The ASX 200 kicked off the week on Monday in style by recording yet another strong start to the trading week.
The S&P/ASX 200 Index (INDEXASX: XJO) climbed 0.34% higher to close at 6,730 points yesterday.
The ASX Energy sector (+1.59%) led the index gainers on Monday while Health Care (-0.80%) was the worst performer.
Here’s a recap of all of the events and announcements that you missed on another big day of ASX 200 trade on Monday.
1. CEO exit sees a2 Milk shares slump lower
Managing director and CEO Jayne Hrdlicka is leaving her post with immediate effect. Hrdlicka will be replaced by former CEO Geoffrey Babidge as the company searches for a permanent replacement.
The outgoing CEO said the increasing demands of the role and forecast growth in the next few years were motivating factors behind the decision to step down.
The ASX 200 stock fell 6% on Monday following the news before closing at $13.97 per share.
2. ASX 200 welcomes EML Payments on Monday
The EML Payments Ltd (ASX: EML) share price edged lower on Monday despite being announced as the latest addition to the ASX 200.
The payments group is the beneficiary from the takeover of Bellamy’s Australia Ltd (ASX: BAL) by China Mengniu Diary Company.
Bellamy’s announced final court approvals for the takeover at the close of yesterday’s trade. This paves the way EML to enter the index and see a potential share price rise from passive investment funds.
The EML share price edged 0.22% lower to $4.47 per share as at yesterday’s close.
3. iSignthis hits out at ASX in latest update
The iSignthis Ltd (ASX: ISX) share price remains suspended as the company slashed its FY20 earnings guidance.
iSignthis cut its EBIT guidance from $10.5 million to $6.5 million and blamed the ASX for its trading suspension.
The ASX 200 stock hasn’t traded since 2 October in what is a particularly unusual absence and that continued on Monday.
The ongoing back and forward between iSignthis and the ASX is continuing in the courts. I’d be keeping an eye out if and when it returns to trade following the earnings downgrade.
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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Emerchants Limited. 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.
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