ASX 200 lunch update: Westpac higher, Super Retail & NIB lower

NIB Holdings Limited (ASX:NHF), Super Retail Group Ltd (ASX:SUL), and Westpac Banking Corp (ASX:WBC) shares are making moves on the ASX 200 on Monday…

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 Monday the S&P/ASX 200 index has continued its positive run. At the time of writing the benchmark index is up 0.3% to 7,087.3 points.

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

Big four banks continue their charge.       

It has been a positive start to the week for the big four banks. At lunch on Monday all four banks are pushing higher once again. The best performer in the group is the Westpac Banking Corp (ASX: WBC) share price with an 0.7% gain.

Super disappointment.

The Super Retail Group Ltd (ASX: SUL) share price has started the week on a disappointing note. Its shares have tumbled lower after providing an update on its first half performance. Due to the bushfires and higher labour costs, it expects to post EBIT of between $113 million and $115 million in the first half. This compares to earnings before interest and tax of $124.5 million during the first half of FY 2019.

NIB downgrades guidance.

The NIB Holdings Limited (ASX: NHF) share price has dropped lower after the private health insurer downgraded its guidance. An increase in claims expenses means NIB now expects its underlying operating profit (UOP) to be ~$170 million in FY 2020. Previously it was targeting UOP of at least $200 million this year.

Best and worst performers.

The best performer on the ASX 200 on Monday has been the Silver Lake Resources Limited (ASX: SLR) share price with a 6% gain. This morning the gold miner released its December quarterly update and revealed record production of 68,519 ounces gold and 691 tonnes copper. The worst performer on the index has been the NIB share price with a 12.5% decline. Its guidance downgrade has also dragged the Medibank Private Ltd (ASX: MPL) share price 3% lower at lunch.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of Super Retail Group Limited. The Motley Fool Australia has recommended NIB Holdings 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

Woman in celebratory fist move looking at phone
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to almost 30%

Analysts are tipping these shares to deliver big returns over the next 12 months.

Read more »

A young woman carefully adds a rock to the top of a pile of balanced river rocks.
Share Market News

Here's how the ASX 200 market sectors stacked up last week

Energy and utilities stocks led the way last week with 4%-plus gains.

Read more »

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 »