Australia Markets closed

ASX 200 lunch update: Altium, NAB, & WiseTech lower

James Mickleboro
Stock market chart or graph in red falling downward bear market.

At lunch on Tuesday the S&P/ASX 200 index is on course to finish the year on a very disappointing note. The benchmark index is down 1.4% to 6,711.6 points at the time of writing.

Here’s what is happening on the market today:

Bank shares tumble.

The big four banks are weighing heavily on the S&P/ASX 200 index on Tuesday. All four have dropped deep into the red at lunch. The worst performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a decline of 1.45%.

Tech shares sink lower.

Australian tech shares are ending the year deep in the red. The likes of Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) are all trading notably lower. This follows a disappointing night of trade on the technology-focused Nasdaq index. It tumbled lower amid end of year profit taking from U.S. investors. The S&P/ASX 200 Info Tech index is down a sizeable 2.4% at the time of writing.

Gold miners race higher.

The mini market meltdown has sent many investors to safe haven assets like gold and the gold miners on Tuesday. This has led gold miners such as Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) storming higher. As a result, the S&P/ASX All Ords Gold index is up 1.2%

Best and worst performers.

The best performer on the ASX 200 index on Tuesday has been the Saracen Mineral share price with a gain of 3%. A rise in the gold price and increasing demand for safe haven assets have been the catalysts for this strong share price gain. Going the other way, the Technology One Limited (ASX: TNE) share price is the worst performer with a 4.75% decline. A sell off of tech shares on Tuesday is behind this sizeable decline.

The post ASX 200 lunch update: Altium, NAB, & WiseTech lower appeared first on Motley Fool Australia.

Blue chips to buy in 2020.

The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2020. So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered! Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!


More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium, National Australia Bank Limited, and WiseTech Global. 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.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020