The S&P/ASX 200 index has returned from the public holiday and is trading lower at lunch. At the time of writing the benchmark index is down 0.1% to 6,377.9 points.
Here's what has been happening on the market today:
Bank shares higher.
The majority of the big four banks look set to end the week on a positive note. Three of the big four banks are trading higher at lunch, with Westpac Banking Corp (ASX: WBC) shares leading the way with a gain of 0.3%. The only one heading lower is the National Australia Bank Ltd (ASX: NAB) share price with a 0.25% decline.
Flight Centre shares crash lower.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has crashed 12.5% lower on Friday after the travel agent giant downgraded its full year guidance due largely to weakness in its Australian leisure business. Flight Centre now expects to post a disappointing 10% drop in earnings in FY 2019.
Bellamy's sinks lower.
After a positive start to the day, the Bellamy's Australia Ltd (ASX: BAL) share price has given back its gains and more. At lunch the infant formula company's shares are down 3%. Investors may be taking profit after a stellar share price rally this week and a lukewarm response to its latest development by brokers.
Gold miners charge higher.
An increase in the gold price and a decreasing appetite for risk has led to Australia's leading gold miners pushing higher on Friday. At lunch the Newcrest Mining Limited (ASX: NCM) share price is up 2.5% and the Saracen Mineral Holdings Limited (ASX: SAR) share price is 4.5% higher. This has helped take the S&P/ASX All Ords Gold index 2% higher on Friday.
Best and worst performers.
The best performer on the benchmark index on Friday has been the Saracen share price with a gain of 4.5%. Going the other way is of course the Flight Centre share price with its sizeable decline, followed by the Fortescue Metals Group Limited (ASX: FMG) share price with a decline of 4.5% following a pullback in iron ore prices.
