The S&P/ASX 200 Index (ASX: XJO) is enjoying a second consecutive day in the green on Monday with the help of these shares.
Right now, the index is recording a 1.26% gain, led by the tech sector. The S&P/ASX 200 Information Technology Index (ASX: XIJ) is up 4.06% right now.
But which stocks ASX 200 are truly outperforming today? Let's take a look.
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3 ASX 200 shares leaping higher on Monday
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up 9.49% to trade at $4.73 at the time of writing after reaching an intraday high of $4.85. That's despite no news coming from the company.
In fact, the last peep of price-sensitive news issued by the ASX 200 share was released in February.
However, there is one event that could go some way to explaining the stock's gains today.
Its ASX-listed peer Bubs Australia Ltd (ASX: BUB) has penned an agreement with the United States government to provide 1.25 million tins of baby formula in an effort to abate a shortage.
The news may have bolstered hopes of higher demand for A2 Milk's baby formula products.
Block Inc (ASX: SQ2)
Shares in ASX 200 tech giant Block are also taking off on Monday. Right now, they're swapping hands for $128.25, 9.52% more than they were at the end of Friday's session.
Like A2 Milk, there's been no word from the company to explain the surge. However, the tech-heavy Nasdaq Composite gained 3.33% on Friday amid news inflation in the United States appears to have steadied.
Additionally, the company's New York listing – Block Inc (NYSE: SQ) – gained 8.52% on Friday.
Novonix Ltd (ASX: NVX)
The final ASX 200 share to be launching upwards on Monday is Novonix. Its share price has lifted 9.65% today to trade at $4.09 at the time of writing.
Once again, there's no clear reason behind the company's gains. However, it did tumble 9.25% last week as the company announced a major change to its board.
Additionally, the battery technology and materials share is part of the ASX 200 tech index. In fact, it's the sector's best performer today.
