At lunch on Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week on a positive note. At the time of writing the benchmark index is up 0.3% to 6,194.2 points.
Here's what has been happening on the ASX 200 today:
Bank shares push higher.
Australia and New Zealand Banking Group (ASX: ANZ) and the rest of the big four banks are pushing higher at lunch. ANZ is leading the way with a gain of 0.75%, whereas the Commonwealth Bank of Australia (ASX: CBA) share price is just a fraction higher after being downgraded to an underperform rating by analysts at Macquarie.
Vocus has no plans to raise capital.
The Vocus Group Ltd (ASX: VOC) share price is down 3% after media speculation of an impending equity raise. However, the telco company announced this morning that its board and management remain comfortable with its debt position. As such, there is no current intention to raise additional equity.
Gold miners climb higher.
A rebound in the gold price on Friday has led to Australia's leading gold miners pushing higher on Monday. Both Resolute Mining Limited (ASX: RSG) and St Barbara Ltd (ASX: SBM) are 1.5% higher at lunch, leading to the S&P/ASX All Ords Gold index rising 1.1%.
Tech shares rise.
Australian tech shares have followed the lead of their U.S. counterparts and pushed higher today. Bravura Solutions Ltd (ASX: BVS) and WiseTech Global Ltd (ASX: WTC) shares are leading the way with gains of approximately 2.5% and 3%, respectively. On Friday the Nasdaq 100 index closed almost 0.8% higher thanks to renewed optimism on the U.S.-China trade front.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Fortescue Metals Group Limited (ASX: FMG) share price with a 3.5% gain after low grade iron ore prices stormed to multi-year highs. Going the other way is the REA Group Limited (ASX: REA) share price which has fallen 4%. This may have been driven by weak housing market data.
