At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run. The benchmark index is currently up 0.35% to 7,540.6 points.
Here's what is happening on the ASX 200 today:
Tabcorp demerger update
The Tabcorp Holdings Limited (ASX: TAH) share price is pushing higher today after the release of a demerger update. The gambling company intends to spin off its lotteries business and retain its wagering businesses. Shareholders will be given one new share in the lotteries business for every Tabcorp share they own. The Tabcorp board determined that the demerger is the most certain and timely path, with lower regulatory impediments, to maximise value for shareholders.
Mining shares storm higher
It has been a great day for ASX 200 mining shares such as BHP Group Ltd (ASX: BHP) and South32 Ltd (ASX: S32). Thanks to a decent rise in base metal prices during overnight trade, these mining giants are recording solid gains and helping to drive the S&P/ASX 200 Resources index 2% higher at lunch.
Tech shares slump
Things haven't been anywhere near as positive in the tech sector today. A poor night of trade on the tech-focused Nasdaq index has led to the S&P ASX All Technology index falling 1% today. Among the worst performers in the sector have been Block Inc (ASX: SQ2) and Xero Limited (ASX: XRO) shares, which are down 4% and 3%, respectively, at lunch.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Champion Iron Ltd (ASX: CIA) share price with a 4.5% gain following a strong night for base metals. The worst performer has been the Harvey Norman Holdings Limited (ASX: HVN) share price with a 6% decline after trading ex-dividend.
