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

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

3 small-cap ASX healthcare shares 'with strong prospects'

Fund manager IML discusses why these 3 ASX healthcare shares are likely to rise in value.

Read more »

Magnifying glass on a rising interest rate graph.
Share Market News

Will the RBA finally cut interest rates next week?

Let's see what economists are saying about the central bank's meeting.

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

a man wearing old fashioned aviator cap and goggles emerges from the top of a cannon pointed towards the sky. He is holding a phone and taking a selfie.
Broker Notes

7 ASX All Ords shares elevated to 'strong buy' status in October

The brokers turned bullish on these ASX companies last month.

Read more »

A businessman compares the growth trajectory of property versus shares.
Share Market News

How ASX shares vs. property performed in October

The national home value rose for the 21st consecutive month while the ASX 200 dipped.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A female Woolworths customer leans on her shopping trolley as she rests her chin in her hand thinking about what to buy for dinner while also wondering why the Woolworths share price isn't doing as well as Coles recently
52-Week Lows

Why is the Woolworths share price at its lowest point since 2020?

We haven't seen Woolies shares this low since COVID.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »