ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal

Here’s what is happening on the ASX 200 on Friday…

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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to snap its losing streak and end the week on a positive note. The benchmark index is up 0.6% to 7,489.1 points.

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

GrainCorp upgrades guidance

The GrainCorp Ltd (ASX: GNC) share price hit a record high this morning following an earnings guidance update. The release notes that the company has been benefiting from significant ongoing global demand for Australian grain and oilseeds. It also notes that planting conditions for the upcoming east coast Australian winter crop are favourable. All in all, this has led to management upgrading its earnings guidance for FY 2022.

Pro Medicus signs major contract

The Pro Medicus Limited (ASX: PME) share price is rising today. This has been driven by news that the health imaging technology company has won a major new contract. According to the release, the company’s US business, Visage Imaging, has signed a $32 million, eight-year contract with Inova Health System.

Ampol update

The Ampol Ltd (ASX: ALD) share price is pushing higher on Friday. This follows news that the New Zealand Commerce Commission has approved the sale of its Gull NZ business to Allegro. This paves the way for Ampol to complete the acquisition of Z Energy Ltd (ASX: ZEL).

Best and worst ASX 200 performers

The best performer on the ASX 200 has been the Paladin Energy Ltd (ASX: PDN) share price with a 10% gain. Paladin and other uranium shares are charging higher today. Going the other way, the worst performer on the ASX 200 has been the IGO Ltd (ASX: IGO) share price with a 2.5% decline. This morning UBS initiated coverage on IGO with a sell rating and $12.65 price target.

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. The Motley Fool Australia owns and has recommended Pro Medicus Ltd. 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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