ASX 200 lunch update: NAB lower, GrainCrop & NEXTDC higher

GrainCorp Ltd (ASX:GNC), National Australia Bank Ltd (ASX:NAB) and NEXTDC Ltd (ASX:NXT) shares are making waves on the ASX 200 on Friday

| More on:
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 Friday the S&P/ASX 200 index is on course to finish the week on a high. The benchmark index is currently up a solid 0.5% to 6,764 points.

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

Bank shares lower.  

The big four banks are acting as a drag on the market on Friday with three of the four in the red. The worst performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a 1.3% decline. This morning the bank released its annual review and pillar 3 report. The Commonwealth Bank of Australia (ASX: CBA) share price is the best performer in the group with a solid 0.8% gain on Friday.

GrainCorp charges higher.

The GrainCorp Ltd (ASX: GNC) share price has surged higher on Friday. This follows news that the Australian Competition and Consumer Commission will not oppose the proposed sale of its Australian Bulk Liquid Terminals business to ANZ Terminals.

NEXTDC rated as a buy.

The NEXTDC Ltd (ASX: NXT) share price has been on form on Friday thanks to a broker note. According to the note, Goldman Sachs has retained its buy rating and lifted the price target on its shares to $7.70. This follows reports that NEXTDC has won a major contract from the Bureau of Meteorology. Its shares are up 4.5% at lunch.

Best and worst performers.

The best performer on the ASX 200 at lunch is the GrainCorp share price with a gain of over 7%. Investors appear pleased that its divestment looks set to go ahead now, pending certain approvals. Going the other way, the worst performer for a second day in a row is the G8 Education Ltd (ASX: GEM) share price. The childcare centre operator's shares have been sold off this week after a disappointing trading update. They are down 3% at lunch.

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. 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

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's when Westpac says the RBA will now cut interest rates

Will borrowers need to wait until the middle of next year for relief? Let's find out.

Read more »

Boys making faces and flexing.
Opinions

3 ASX 300 shares to buy and hold for the long run

I believe these stocks have loads of growth potential.

Read more »

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Record Highs

The ASX 200 Index is on its way to another all-time high today. Here's why

These blue chip stocks are driving the index towards a new record today...

Read more »

Group of friends trading stocks on their phones. symbolising the 3 most traded ASX 200 shares today
Share Market News

3 ASX mining stocks topping the most-traded list in October

Chinese stimulus news and company announcements likely contributed to the higher trading activity.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

Two people tired and resting after sports race.
Broker Notes

Fundie rates 2 ASX 200 stocks in short-term pain but with long-term gain potential

Blackwattle Investment Partners sees these 2 ASX 200 stocks as worthy of a buy and hold strategy.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »