Transurban shares are one of only a handful of ASX 200 stocks gaining today. What’s happening?

a man in a shirt and tie holds his chin in thoughtful contemplation and looks skywards as if thinking about something while a graphic of a road with many ups and downs unfurls behind him.a man in a shirt and tie holds his chin in thoughtful contemplation and looks skywards as if thinking about something while a graphic of a road with many ups and downs unfurls behind him.

The Transurban Group (ASX: TCL) share price is in the green today, and it’s a lucky – and lonely ­– spot to be in.

Most of the toll road operator’s S&P/ASX 200 Index (ASX: XJO) peers are suffering on Friday, with the index tumbling 1.58% at the time of writing.

At the same time, the Transurban share price is trading at $14.09, 0.97% higher than its previous close.

Let’s take a closer look at what’s going on with the market on Friday.

Transurban shares afloat in a sea of red

The ASX 200 is plunging from yesterday’s eight-month high – and near all-time high – amid news the United States Federal Reserve could be considering a rate hike next month.

The chair of the nation’s central bank, Jerome Powell, signalled talk of a 0.5% increase to rates on Thursday (Friday, AEDT), reports the Wall Street Journal.

Seemingly in response to the international rates talk, the ASX 200 is recording its worst day since February’s 2.99% tumble.

At the time of writing, only 34 of the ASX’s top 200 companies are gaining. That leaves 83% of the ASX 200 in the red.

Leading the index on Thursday is the United Malt Group Ltd (ASX: UMG) share price. It’s currently up 1.79%.

The share prices of CSL Limited (ASX: CSL), JB Hi-Fi Limited (ASX: JBH), Coles Group Ltd (ASX: COL), and Ramsay Health Care Limited (ASX: RHC) are also in the green.

They’ve joined the Transurban share price in avoiding today’s carnage. There’s no news from the toll road operator to explain why its stock is moving higher on Friday.

Additionally, 10 of the ASX 200’s 11 sectors are trading lower right now.

Only the S&P/ASX 200 Health Care Index (ASX: XHJ) is up. It’s recording a 0.49% gain.

Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) is the worst performing sector, tumbling 3.31%.

The post Transurban shares are one of only a handful of ASX 200 stocks gaining today. What’s happening? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/Ifd7QwE

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