Domino’s delivers, Westpac impresses, Coles sinks

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. The benchmark index is currently down 0.5% to 6,880.7 points.

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

Westpac Q1 update impresses

The Westpac Banking Corp (ASX: WBC) share price is racing higher today. Investors have been buying the banking giant’s shares after its first quarter update impressed. Westpac reported a quarterly cash profit of $1.97 billion for the three months ended 31 December. This was more than double the quarterly average it achieved during the second half of FY 2020. Another big positive was that Westpac has reversed some of its COVID impairments. The bank recorded an impairment benefit of $501…