At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is off its intraday highs but remains on course to record a positive gain. The benchmark index is currently up 0.4% to 7,325.8 points
Here’s what is happening on the ASX 200 today:
Hamish Douglass resigns as Magellan director
The Magellan Financial Group Ltd (ASX: MFG) share price is trading lower today. This follows news that the embattled fund manager’s founder, Hamish Douglass, has resigned as a director with immediate effect. Douglass took indefinite leave from the role as Chairman last month following a period of intense pressure and focus on both his professional and personal life.
Block share price reaches ASX high
The tech sector has been performing positively on Monday with the Block Inc (ASX: SQ2) share price the highlight. Its shares jumped 11% in morning trade to reach their highest level since listing on the Australian share market. This latest gain means the Block share price is now up over 60% in less than a month. The S&P ASX All Technology index is up 1.9% at the time of writing.
Qube announces $400m share buyback
The Qube Holdings Ltd (ASX: QUB) share price is rising today after the logistics facilities company announced a $400 million off market share buyback. Qube decided to buy back shares following a strong performance during the first half and the completion of the Moorebank Logistics Park transaction.
Best and worst ASX 200 performers
The best performer on the ASX 200 index on Monday has been the Block share price with a gain of almost 9%. This follows a strong rise by its US listed shares on Friday night. The worst performer has been the Atlas Arteria Group (ASX: ALX) share price with a 4% decline on no news. The toll road operator’s shares trade ex-dividend tomorrow but some shareholders aren’t sticking around to qualify for its final dividend.
The post ASX 200 (ASX:XJO) midday update: Hamish Douglass resigns from Magellan, Block jumps appeared first on The Motley Fool Australia.
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More reading
- Block (ASX:SQ2) share price jumps 11% to new ASX high
- Qube (ASX:QUB) share price rises amid $400m off-market buyback
- 5 things to watch on the ASX 200 on Monday
- These were the worst performers on the ASX 200 last week
- Is the bull market over?
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 Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. 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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