At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week on a high. The benchmark index is currently up 0.95% to 6,777.5 points.
Here’s what has been happening today:
Tech shares back on form
ASX tech shares such as Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) are pushing higher on Friday following a strong night of trade on the tech-heavy Nasdaq index. It rose 2.5% overnight thanks to solid gains from a number of tech giants such as Amazon and Facebook. This positive form has transferred to the ASX tech sector, leading to the S&P/ASX All Technology Index (ASX: XTX) rising 2.2%.
Westpac APRA update
The Westpac Banking Corp (ASX: WBC) share price is edging lower despite announcing that APRA has closed its investigation into matters related to the AUSTRAC proceedings. The regulator revealed that after carefully considering the results of ASIC’s investigation, it has decided to close its investigation. However, the $1 billion operational risk capital add-on will remain in place until Westpac completes its remediation under a court enforceable undertaking to APRA’s satisfaction.
Qantas shares underperform
The Qantas Airways Limited (ASX: QAN) share price is trading flat today despite being the subject of a couple of positive broker notes. This follows the Federal Government’s announcement of a $1.2 billion stimulus program to support the domestic travel market. Goldman Sachs responded by reiterating its buy rating and $6.38 price target, whereas Citi upgraded Qantas’ shares to a buy rating with a $6.14 price target.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Friday has been the Service Stream Limited (ASX: SSM) share price with a 6% gain. This is despite there being no news out of the essential network services provider. Though, with its shares falling heavily this year, some investors may believe they have been oversold. The worst performer has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 3% decline. This may be due to profit taking after a strong gain on Thursday.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher
- Westpac (ASX:WBC) share price higher following APRA update
- 435,000 Aussies bought their first shares during the pandemic
- 2 of the best ASX 50 shares to buy now
- Can the Flight Centre (ASX:FLT) share price recover in 2021?
Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Service Stream Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post ASX 200 up 0.95%: Afterpay rises, Westpac’s APRA update, Qantas upgraded appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3cmGqct
Leave a Reply