ASX 200 (ASX:XJO) midday update: AGL and Novonix shares shoot higher

The ASX 200 is having a subdued start to the week…

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. The benchmark index is currently down 0.1% to 7,445.7 points.

Here’s what is happening on the ASX 200 today:

AGL’s shares shoot higher

The AGL Energy Limited (ASX: AGL) share price has been a very strong performer on Monday. Its shares are shooting higher after reportedly being upgraded by analysts at Credit Suisse. According to the Australian, the broker has upgraded the energy retailer’s shares to an outperform rating from neutral.

Pro Medicus shares upgraded

Another share that has been upgraded today is Pro Medicus Limited (ASX: PME). Less than a week after downgrading the health imaging technology company’s shares to a reduce rating, Morgans has upgraded them to a hold rating. Morgans made the move after a sizeable selloff last week post-downgrade left its shares trading at a fairer level. This hasn’t stopped the Pro Medicus share price from sinking today.

Novonix aiming to join the Nasdaq

The Novonix Ltd (ASX: NVX) share price is surging higher today after announcing plans for a secondary listing on the Nasdaq index on Wall Street. The battery materials company hopes that listing on the famous stock exchange will allow US investor and fund managers the opportunity to invest in the growing company.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the AGL share price with a 7.5% gain following the aforementioned broker note out of Credit Suisse. The worst performer on the index has been the Reliance Worldwide Corporation Ltd (ASX: RWC) share price with a 4.5% decline. This is despite there being no news out of the plumbing parts company.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Pro Medicus Ltd. and Reliance Worldwide Corporation Limited. The Motley Fool Australia owns and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. 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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