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ASX Thursday Lunchtime Market Update

Australia’s share market, or the All Ordinaries (INDEXASX: XAO)(ASX: XAO) has not had a good start to the day, it's currently down almost 0.5%.

Australia’s share market, or the All Ordinaries (INDEXASX: XAO)(ASX: XAO) has not had a good start to the day, it’s currently down almost 0.5%.

Three of the four big banks have been knocked down by a decent notch on reports that China might stop buying US bonds. Commonwealth Bank of Australia (ASX: CBA) is down 0.51%, Westpac Banking Corp (ASX: WBC) is down 0.60% and Australia and New Zealand Banking Group (ASX: ANZ) is down 0.8%. National Australia Bank Ltd (ASX: NAB) rounds off the group down only 0.15%.

Further down the market cap list, the Carsales.Com Ltd (ASX: CAR) share price has had a bingle, perhaps on news that diesel car sales could plunge this year or perhaps due to a negative broker note released earlier.

McMillan Shakespeare Limited (ASX: MMS) is the other worst performer in the ASX 200, with the share price packaged down by 4.38% at midday.

JB Hi-Fi Limited’s (ASX: JBH) share price has shot up 5.15% this morning thanks to one of the main brokers releasing a positive note about the company.

At the smaller end of the market, Nearmap Ltd (ASX: NEA) released a positive set of growth numbers this morning, the share price reacted by growing 8.4% so far today.

Finally, cannabis company Creso Pharma Ltd (ASX: CPH) announced it would be starting a joint venture business to sell cannabis-derived drinks. Investors thought this could send Creso to new highs, with the share price up 5.77%.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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