Insights

ASX 200 up 0.7%: Afterpay (ASX:APT) higher, QBE Insurance (ASX:QBE) lower on UK update

Afterpay Ltd (ASX:APT) and QBE Insurance Group Ltd (ASX:QBE) shares are on the move on the ASX 200 on Wednesday…
The post ASX 200 up 0.7%: Afterpay (ASX:APT) higher, QBE Insurance (ASX:QBE) lower on UK update appeared first on Motley Fool Australia. –

Investment stock market Entrepreneur Business Man discussing and analysis graph stock market trading,stock chart concept

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. The benchmark index is currently up 0.7% to 5,937.3 points.

Here’s what is happening on the market today:

QBE’s UK update.

The QBE Insurance Group Ltd (ASX: QBE) share price is trading lower today. This morning the insurance giant revealed that the High Court of England and Wales has ruled in favour of policyholders in respect to one of QBE’s notifiable disease policy wordings. This means some of the company’s policyholders are entitled to claim an insurance payout for business losses suffered when the UK went into lockdown between March and June because of COVID-19. QBE is considering its options to appeal that decision.

Tech shares rebound.

The likes of Afterpay Ltd (ASX: APT) and Nearmap Ltd (ASX: NEA) are helping to drive the ASX 200 higher today. This follows another very positive night of trade on the technology focused Nasdaq index. It rose a solid 1.2% during overnight trade. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is up 2.5%.

Big four banks drag on ASX 200.

The big four banks are acting as a drag on the ASX 200 again on Wednesday. At lunch, three of the big four banks are in the red. The only bank in positive territory at the time of writing is Commonwealth Bank of Australia (ASX: CBA). The CBA share price is currently up 0.2% to $65.18.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the SEEK Limited (ASX: SEK) share price with a 9% gain. This appears to have been driven by positive economic data out of China today. The worst performer has been the Whitehaven Coal Ltd (ASX: WHC) share price with a 3% decline. This may be down to profit taking after a solid gain over the last few trading days.

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 owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Nearmap Ltd. and SEEK 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 up 0.7%: Afterpay (ASX:APT) higher, QBE Insurance (ASX:QBE) lower on UK update 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!