At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. The benchmark index is down 0.7% to 7,472.4 points.
Here's what is happening on the ASX 200 today:
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Fortescue shares crash lower
The Fortescue Metals Group Limited (ASX: FMG) share price is trading sharply lower on Monday. However, this has nothing to do with iron ore prices and everything to do with its upcoming dividend. This morning the mining giant's shares traded ex-dividend for its fully franked $2.11 per share final dividend. Eligible shareholders can look forward to receiving this dividend on 30 September.
Gold miners storm higher
One area of the market performing positively today has been the gold sector. Thanks to a solid rise in the gold price on Friday night, the likes of Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) shares are pushing notably higher. The precious metal was given a boost by weak US economic data. This has eased tapering fears and boosted safe haven assets.
Pro Medicus shares tumble
The Pro Medicus Limited (ASX: PME) share price is tumbling lower today after being downgraded by a leading broker. According to a note out of Goldman Sachs, it has downgraded the health imaging company's shares to a sell rating with a $54.00 price target. Goldman made the move on valuation grounds, believing it is hard to justify the premium the Pro Medicus share price is trading on.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Appen Ltd (ASX: APX) share price with a 4.5% gain. This is despite there being no news out of the artificial intelligence data services company. The worst performer has been the Fortescue share price with a 9.5% decline after going ex-dividend.
