The S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a very positive note. At the time of writing the benchmark index is up 0.75% to 5,798.7 points.

Four shares that have not been able to follow the market higher today are listed below. Here’s why they are dropping lower:

The A2 Milk Company Ltd (ASX: A2M) share price is down 2% to $17.34. This decline appears to have been caused by profit taking after some very strong gains in 2020. Even after today’s decline, a2 Milk Company’s shares are up almost 24% since the start of the year. Investors have been buying the company’s shares after it reported strong sales growth during the pandemic.

The Freedom Foods Group Ltd (ASX: FNP) share price is down almost 5% to $3.54. The diversified food company’s shares have come under pressure since the release of a trading update at the end of last week which revealed weaker than expected sales. In addition to this, the company warned that its margins had been negatively impacted by an unfavourable sales mix.

The Scentre Group (ASX: SCG) share price has fallen 3.5% to $2.17. A number of real estate shares have come under pressure today. This appears to have been caused by an announcement by Vicinity Centres (ASX: VCX). The shopping centre operator is raising $1.4 billion to help it navigate the pandemic. It also warned that preliminary asset revaluations indicate an aggregate reduction in asset value of up to $2.1 billion.

The TPG Telecom Ltd (ASX: TPM) share price is down over 3% to $8.22. This appears to be down to profit taking after a strong share price gain over the last month. Investors have been buying TPG Telecom’s shares amid optimism that its merger with Vodafone Australia will be a success. It also plans to rewards shareholders with a special dividend ahead of the merger.

More reading

• 5 ASX 200 winners and 3 losers from last week
• Will the A2 Milk share price hit $20 in 2020?
• How to be an ASX 200 share millionaire in 15 years
• How you can get very rich with ASX 200 shares
• 10 top ASX growth shares to buy in June for strong returns

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Freedom Foods Group Limited and Scentre Group. 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 Why a2 Milk, Freedom Foods, Scentre, & TPG Telecom are dropping lower appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2XN5Jgr

After a poor start to the day, the S&P/ASX 200 Index (ASX: XJO) has bounced back and is pushing higher at lunch. At the time of writing the benchmark index is up 0.6% to 5,790.4points.

Here’s what is happening on the market today:

Big four banks push higher.

The big four banks are pushing higher on Monday and helping drive the ASX 200 higher. The best performer in the group has been the National Australia Bank Ltd. (ASX: NAB) share price with a 1.6% gain. This latest gain means that NAB’s shares are now up 37% from their 52-week low.

Qantas ACCC investigation.

The Qantas Airways Limited (ASX: QAN) share price is pushing higher today despite the ACCC providing an update on its investigation into the airline’s acquisition of a 19.9% stake in Alliance Aviation Services Ltd (ASX: AQZ). The ACCC’s investigation will now focus on the competitive dynamics between Qantas and Alliance. It will examine whether the stake affects Alliance’s ability to raise funds, consider takeovers, or participate in commercial ventures.

Pro Medicus update.

The Pro Medicus Limited (ASX: PME) share price is on the rise on Monday after it announced a major contract win with Northwestern Memorial HealthCare. According to the release, Pro Medicus has signed a five-year, A$22 million deal with the Chicago-based healthcare company for its Visage 7 technology. Management also revealed that its business has not been impacted materially by the pandemic.

Best and worst ASX 200 performers.

The Adbri Ltd (ASX: ABC) share price is the best performer on the ASX 200 on Monday with an 8.5% gain. This is despite there being no news out of Adbri, which was formerly known as Adelaide Brighton. The worst performer on the index has been the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price with a 5% decline. This appears to have been driven by valuation concerns.

More reading

• 3 things that could impact ASX 200 shares this June
• Afterpay share price rockets 50% in May, is it in the buy zone?
• 3 best stocks for ASX 200 investors in retirement to buy now
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why this exciting ASX 200 tech share is pushing higher on Monday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. 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 0.6%: NAB charges higher, ACCC investigates Qantas acquisition appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/36NYKbb