Insights

ASX 200 down 1.2%: Blackmores jumps, Bendigo and Adelaide Bank’s update, Zip sinks

Blackmores Limited (ASX:BKL) and Zip Co Ltd (ASX:Z1P) shares are making a splash on the ASX 200 on Tuesday…
The post ASX 200 down 1.2%: Blackmores jumps, Bendigo and Adelaide Bank’s update, Zip sinks appeared first on Motley Fool Australia. –

couple opening mail and looking distressed at contents representing market crash

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) has followed the lead of international markets and is sinking lower. The benchmark index is currently down 1.2% to 6,081.5 points.

Here’s what is happening on the market today:

Blackmores jumps on AGM update.

The Blackmores Limited (ASX: BKL) share price is jumping higher today after the release of the health supplements company’s annual general meeting update. That update reveals that management continues to expect profit growth in FY 2021. Though, this will come predominantly from the second half of the financial year. Management also advised that its restructuring is set to deliver $15 million of gross annualised savings from the second half.

Bendigo and Adelaide Bank impresses.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is pushing higher today following the release of a trading update. For the first quarter, the regional bank achieved total lending growth of 11% and residential lending growth of 16.1%. Management notes that these are both well above system growth. The bank also recorded a small increase in its net interest margin.

Gold miner updates galore.

Gold miners Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST), and Ramelius Resources Limited (ASX: RMS) shares are all trading lower following the release of their respective quarterly updates. Not even Ramelius revealing that it smashed its production and costs guidance was able to prevent its shares from dropping lower. The S&P/ASX All Ordinaries Gold index is down 1% at lunch.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Tuesday has been the Blackmores share price with a 4% gain. This follows the release of its annual general meeting update. Going the other way, the worst performer has been the Zip Co Ltd (ASX: Z1P) share price with a decline of over 5%. This appears to have been driven by a selloff of tech stocks today following a weak night of trade on the Nasdaq index.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. 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 post ASX 200 down 1.2%: Blackmores jumps, Bendigo and Adelaide Bank’s update, Zip sinks appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!