ASX 200 flat: Rio Tinto Q3 update, big four banks higher, GUD impresses

National Australia Bank Ltd (ASX:NAB) and Rio Tinto Limited (ASX:RIO) shares are on the move on the ASX 200 on Friday…

Worried young male investor watches financial charts on computer screen

Image source: Getty Images

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 (ASX: XJO) is fighting hard to end the week in positive territory. The benchmark index is currently flat at 6,206.1 points.

Here's what is happening on the market today:

Rio Tinto lower after third quarter update.

The Rio Tinto Limited (ASX: RIO) share price is trading lower on Friday following the release of its third quarter update. For the three months ended 30 September, Rio Tinto reported Pilbara iron ore shipments of 82.1Mt. This was a 5% decline on the prior quarter and a touch lower than expectations. However, it is worth noting that the mining giant has reaffirmed its full year production and cost guidance for iron ore and copper.

Big four banks push higher.

The big four banks are doing their part on Friday and are pushing higher. All four banks are in positive territory at lunch, with the National Australia Bank Ltd (ASX: NAB) share price leading the way with a 0.5% gain. Investors may be pleased with the latest COVID-19 data out of Victoria this morning. Just two new cases were recorded during testing yesterday.

GUD update impresses.

The GUD Holdings Limited (ASX: GUD) share price is storming higher today after investors responded positively to its first quarter update. The products company had a very positive quarter and experienced strong sales growth across both its Automotive and Water divisions. This led to GUD reporting a 14% increase in first quarter group sales. However, due to the uncertainty caused by COVID-19, management hasn't been able to provide any guidance.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Friday has been the Unibail-Rodamco-Westfield (ASX: URW) share price with a 13% gain. Earlier this week the shopping centre operator announced a deal to sell its SHiFT office building in Paris for 620 million euros. Going the other way, the worst performer has been the Atlas Arteria Group (ASX: ALX) share price with a 3% decline. Last night the toll road operator revealed that the Hearing Examiner has recommended no increases to peak tolls on the Dulles Greenway in the United States.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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

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 »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Megaport, Pilbara Minerals, Vysarn, and WiseTech shares are falling today

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

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »