ASX 200 up 0.1%: Tech shares rise, Ansell names new CEO

Here’s what is happening on the market on Tuesday…

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is bouncing back from yesterday’s decline. The benchmark index is currently up 0.1% to 7,290.5 points.

Here’s what is happening on the market today:

Tech shares rise

Tech shares such as Pro Medicus Limited (ASX: PME) and WiseTech Global Ltd (ASX: WTC) are pushing higher today and helping drive the S&P/ASX All Technology Index (ASX: XTX) up 0.7%. Investors have been buying tech shares following another positive night on the Nasdaq index. The tech-heavy index recorded a 0.5% gain during overnight trade. This compares to a 0.35% decline by the Dow Jones.

Travel shares rebound

News that Victoria will be ending its lockdown on Thursday has gone down well with the market and particularly the travel sector. The likes of Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) shares are pushing higher today, with investors seemingly banking on this giving the domestic travel market a big boost in the coming weeks and months.

Ansell names its new CEO

The Ansell Limited (ASX: ANN) share price is trading lower despite announcing its new CEO. This morning the health and safety products company announced that Neil Salmon will become its new Managing Director and CEO on 1 September. This follows a comprehensive internal and external search for a successor. Mr Salmon is currently the company’s President of the Industrial Global Business Unit. He will be replacing the retiring Magnus Nicolin.

Best and worst ASX 200 performers

The EML Payments Ltd (ASX: EML) share price is the best performer on the ASX 200 on Tuesday with a 4.5% gain. This morning UBS responded to the payments company’s trading update by retaining its buy rating and $5.30 price target. The worst performer has been the Infratil Ltd (ASX: IFT) share price with a 2.5% decline on no news.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell Ltd, EML, Flight Centre, Pro Medicus and Webjet. 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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