ASX 200 midday update: Brambles rockets, Goodman upgrades guidance

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

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has started the week on a reasonably positive note. The benchmark index is currently up 0.3% to 7,096.5 points.

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

Goodman Q3 update impresses

The Goodman Group (ASX: GMG) share price is pushing higher on Monday. This follows the release of the industrial property company’s third quarter update. That update revealed that Goodman has continued its strong form during the period. So much so, it has upgraded its earnings per share growth guidance from 20% to 23% for FY 2022.

Brambles is a takeover target

The Brambles Limited (ASX: BXB) share price is racing higher today after the logistics solutions company confirmed that it is a takeover target. However, while it is in discussions with private equity giant CVC Partners, it hasn’t received a proposal as of yet. At the rate that private equity firms are making deals, there’ll be fewer and fewer quality blue chip options for Australian investors in the coming years.

Tech shares storm higher

A key driver of the ASX 200’s gains on Monday has been the tech sector. Thanks to an explosive night of trade on the Nasdaq index on Friday, the S&P/ASX All Technology Index is up 2.5% today. Appen Ltd (ASX: APX) and Megaport Ltd (ASX: MP1) are among the best performers in the sector today.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Brambles share price with a 10% gain. This follows new of its takeover talks with CVC. Going the other way, the Imugene Limited (ASX: IMU) share price is the worst performer with a 5.5% decline on no news. This leaves the biotech trading within a whisker of its 52-week low.

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. has positions in and has recommended Appen Ltd and MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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