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ASX 200 lunch time report: Eclipx, NAB, & Westpac lower

James Mickleboro
stock market

At lunch on Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its poor run and is down a further 0.25% to 6,150.5 points.

Here’s what has been happening on the index today:

Banks edge lower.

Westpac Banking Corp (ASX: WBC) shares have given back their morning gains and edged lower at lunch. Fellow bank National Australia Bank Ltd (ASX: NAB) has also dropped lower along with CYBG PLC (ASX: CYB).

Nufarm shares rebound.

The Nufarm Limited (ASX: NUF) share price has bounced back from yesterday’s selloff and is up 5.5% at lunch. Investors appear to believe that the crop protection and specialist seed company’s shares were oversold on Wednesday following the release of its half year results. Nufarm suspended its dividend and cut it full year guidance.

Eclipx shares continue to sink.

The Eclipx Group Ltd (ASX: ECX) share price has continued its slide and is down a further 7% at lunch on Thursday. The fleet management company’s shares have plunged 59% in the space of two days following its trading update and the breakdown of merger talks with McMillan Shakespeare Limited (ASX: MMS).

Gold miners rise.

Australian gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) are on the rise on Thursday after the spot gold price pushed higher overnight. The price of the precious metal climbed higher after the U.S. Federal Reserve signalled that it would not increase rates any further in 2019. The S&P/ASX All Ords Gold index is up 0.9% at lunch.

Best and worst performers.

The Nufarm share price is the best performer on the ASX 200 at lunch with its 5.5% gain. Some distance behind is the WiseTech Global Ltd (ASX: WTC) share price which is 2% higher despite there being no news out of the logistics platform provider. Going the other way is the Eclipx share price with its 7% decline. Not far behind is the Emeco Holdings Limited (ASX: EHL) share price which has dropped 5.5% lower.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of 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. 2019