ASX 200 lunch update: WiseTech Global higher, NAB & Xero lower

National Australia Bank Ltd (ASX:NAB), WiseTech Global Ltd (ASX:WTC), and Xero Limited (ASX:XRO) shares have been on the move on the ASX 200 on Wednesday…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At lunch on Wednesday the S&P/ASX 200 index is on course to follow the lead of U.S. markets and record a decline. It is down 0.3% at 6,650 points at the time of writing.

Here's what has been happening on the market today:

Bank shares lower.  

The main drag on the market today has been the banking sector. All of the big four banks are trading lower at lunch. The worst performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a decline of 0.7%.

WiseTech Global returns.

The WiseTech Global Ltd (ASX: WTC) share price has returned from its trading halt and pushed higher. It appears as though investors were pleased with the way the logistics solutions company refuted the latest short seller report. It also reiterated its guidance for FY 2020.

Tech shares sinking.

Not all tech shares have been able to follow WiseTech Global higher today. A number of popular tech shares have come under pressure and are sinking lower. This includes healthcare technology company Pro Medicus Limited (ASX: PME) and accounting and business software provider Xero Limited (ASX: XRO). They are down 6% and 4%, respectively, at lunch.

Costa remains suspended.

The Costa Group Holdings Ltd (ASX: CGC) share price will remain suspended for a further five trading days following a request by the horticulture company this morning. It needs this time to prepare a trading update. The general view is that this is yet another guidance downgrade from the embattled company.

Best and worst performers.

The Gold Road Resources Ltd (ASX: GOR) share price is the best performer on the benchmark index today with a gain of 12.5%. This morning analysts at Macquarie slapped an outperform rating and $1.60 price target on the gold miner's shares. The worst performer has been the Pro Medicus share price with a 6% decline on no news. I suspect profit-taking could be behind this share price weakness.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of WiseTech Global and Xero. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia owns shares of National Australia Bank Limited. The Motley Fool Australia has recommended Pro Medicus Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Broker Notes

3 of the best ASX 200 shares to buy in 2025

Let's see why analysts at Bell Potter are bullish on these shares next year.

Read more »

People of different ethnicities in a room taking a big selfie, symbolising diversification.
Opinions

Want diversification? Get it instantly with these ASX 200 shares

Some businesses offer a lot more diversification than others.

Read more »

A happy man and woman on a computer at Christmas, indicating a positive trend for retail shares.
Opinions

2 ASX 200 shares I'd want to receive as a present today

Merry Christmas! Are there any stocks under your tree?

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Avita Medical, GenusPlus, Mesoblast, and Polynovo shares are storming higher

These shares are having a better day than most today. But why?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Charter Hall Retail, DroneShield, FBR, and St Barbara shares are tumbling today

These shares are having a tough time on Tuesday. But why?

Read more »

Contented looking man leans back in his chair at his desk and smiles.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these stocks.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

2 of the best ASX shares to buy in 2025

Bell Potter is feeling bullish on these shares as the new year approaches.

Read more »

A happy man and woman on a computer at Christmas, indicating a positive trend for retail shares.
Share Market News

5 things to watch on the ASX 200 on Tuesday

Will the market give investors a little Christmas present today?

Read more »