The S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO), is currently down 0.41% at lunch.
The All Ordinaries Index (INDEXASX: XAO)(ASX: XAO) is also down by 0.50%.
The big four ASX banks of Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking Group (ASX: ANZ), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) are down 1.44%, 2.01%, 2.22% and 1.83% respectively. They are the biggest reason why the ASX index is down.
Another negative factor is that Bendigo and Adelaide Bank Ltd (ASX: BEN) shares are down 5.5% in response to the community bank’s half year report which showed a fall of profit.
The share price of Amcor Limited (ASX: AMC) is up more than 1% after announcing a multi-year extension so its long term relationship with coffee business Nespresso.
JB Hi-Fi Limited (ASX: JBH) proved the doubters wrong yet again by announcing more sales and profit growth in its half year report. The business also expects profit growth for the full year.