ASX 200 up 0.4%: Bank shares lower, Xero shares upgraded

Australia and New Zealand Banking GrpLtd (ASX:ANZ) and Xero Limited (ASX:XRO) shares are on the move on the ASX 200 on Tuesday…
The post ASX 200 up 0.4%: Bank shares lower, Xero shares upgraded appeared first on The Motley Fool Australia. –

ASX 200 shares

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record its second successive day of gains. The benchmark index is currently up 0.4% to 6,779.8 points.

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

Bank shares lower

The big four banks are out of favour today and trading lower. While all four banks are in the red and acting as a drag on the ASX 200, the worst performer has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price. Its shares are down 0.5% at the time of writing on no news.

Xero shares upgraded

The Xero Limited (ASX: XRO) share price is pushing higher on Tuesday thanks to a broker note out of Credit Suisse. According to the note, the broker has upgraded the business and accounting platform provider’s shares to an outperform rating with an improved price target of $136.00. Its analysts were pleased with its Planday acquisition. In addition to this, its research indicates that Xero has continued to deliver strong revenue growth in recent months.

Healthcare shares rise

The healthcare sector is outperforming on Tuesday and helping to drive the ASX 200 higher. Solid gains are being recorded by the likes of Healius Ltd (ASX: HLS), ResMed Inc (ASX: RMD), and Sonic Healthcare Limited (ASX: SHL). This has led to the S&P/ASX 200 Health Care index rising by over 0.85% so far today.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the AGL Energy Limited (ASX: AGL) share price with a 5% gain. This is despite there being no news out of the energy company. The worst performer has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 3.5% decline. A number of travel shares are tumbling lower today.

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.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, ResMed Inc., and Sonic Healthcare 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 0.4%: Bank shares lower, Xero shares upgraded appeared first on The 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!