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ASX 200 up 1.2%: Big four banks rebound, WiseTech CEO dumps shares, Collins Foods impresses

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. The benchmark is currently up 1.2% to 5,886.1 points.

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

Big four banks rebound.

The big four banks have bounced back from yesterday’s sizeable declines with some strong gains. All four banks are pushing higher at lunch and are helping drive the ASX 200 higher. The best performer in the group is the Westpac Banking Corp (ASX: WBC) share price. At the time of writing, the shares of Australia’s oldest bank are up 2%.

Brickworks and Goodman sign deal with Amazon.

Both Brickworks Limited (ASX: BKW) and Goodman Group (ASX: GMG) shares have been pushing higher on Tuesday after announcing that their joint venture has signed a deal with Amazon. The tech giant has agreed a lease pre-commitment for 20 years at the Oakdale West Estate in Western Sydney. The Brickworks and Goodman joint venture will build a new state of the art distribution facility at Oakdale West. This complements a similar agreement with Coles Group Ltd (ASX: COL) at the site.

WiseTech CEO dumps shares.

The WiseTech Global Ltd (ASX: WTC) share price is tumbling lower today after the logistics solutions company revealed heavy insider selling. According to the announcement, over the past few trading days its founder and CEO, Richard White, has sold almost $46 million worth of shares. No explanation was provided. While this was a large sale, the chief executive continues to have voting control over approximately 151 million WiseTech Global shares. This represents approximately 46.9% of the issued capital of WiseTech Global.

Best and worst ASX 200 shares.

The Collins Foods Ltd (ASX: CKF) share price is the best performer on the ASX 200 on Tuesday by some distance. At lunch the quick service restaurant operator’s shares are up 14% following the release of its full year results this morning. The worst performer has been the Saracen Mineral Holdings Limited (ASX: SAR) share price with a decline of almost 3%. This morning Macquarie downgraded the gold miner to a neutral rating.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited and Westpac Banking. The Motley Fool Australia owns shares of and has recommended Brickworks. The Motley Fool Australia owns shares of COLESGROUP DEF SET and WiseTech Global. The Motley Fool Australia has recommended Collins Foods 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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