At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is tumbling lower. The benchmark index is currently down 0.5% to 7,409.4 points.
Here’s what is happening on the ASX 200 today:
PolyNovo shares rocket
The PolyNovo Ltd (ASX: PNV) share price is rocketing higher today after the release of a first half sales update. According to the release, the medical device company expects to report first half group sales growth of 45% year on year to A$16.28 million excluding Barda revenue and 43% to A$18.04 million including Barda revenue. A strong performance in the US underpinned this growth.
Inghams update disappoints
Investors have been selling down the Inghams Group Ltd (ASX: ING) share price today after the release of a disappointing trading update. The poultry producer revealed that COVID-19 and elevated feed costs are impacting its performance. Management also warned that it is not currently possible to predict how long this disruption will continue.
Ramsay shares higher on NHS agreement
The Ramsay Health Care Limited (ASX: RHC) share price is pushing higher on Tuesday. This follows news that the private hospital operator has signed a new volume-based agreement with NHS England (NHSE). The deal will see the company make its services available to the NHSE and its patients to meet the ongoing demands resulting from the COVID-19 pandemic.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Tuesday has been the PolyNovo share price with a massive 20% gain following its sales update. Going the other way, the Inghams share price is the worst performer on the ASX 200 today. The poultry company’s shares are down 7% at lunch following the release of its trading update.
The post ASX 200 (ASX:XJO) midday update: PolyNovo rockets, Inghams sinks appeared first on The Motley Fool Australia.
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More reading
- Here’s why the PolyNovo (ASX:PNV) share price is jumping 13% today
- Inghams (ASX:ING) share price sinks as Omicron bites
- 2 high-yielding ASX 200 dividend shares to boost income
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX shares today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended POLYNOVO FPO. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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