At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a strong gain. The benchmark index is currently up 1.6% to 6,686.1 points.
Here's what is happening on the ASX 200 today:
Metcash jumps on FY 2022 results
The Metcash Limited (ASX: MTS) share price is storming higher today after the wholesaler smashed the market's FY 2022 earnings estimates. Metcash reported an 18.6% increase in underlying net profit after tax to $299.6 million. This compares favourably to the market consensus estimate of an underlying profit of $279 million. Solid growth from all sides of the business drove the strong result.
Imugene shares rocket on study results
The Imugene Limited (ASX: IMU) share price is rocketing higher today following the release of study results. This morning the immuno-oncology company revealed positive final overall survival data from its Phase 2 study of HER-Vaxx following the analysis of safety and efficacy data. This study was in Her-2/Neu overexpressing advanced/metastatic gastric/GEJ cancer.
Evolution shares crash on third FY22 guidance downgrade
The Evolution Mining Ltd (ASX: EVN) share price is having a day to forget. This gold miner's shares have been crushed after it downgraded its FY 2022 guidance yet again. Evolution now expects FY 2022 gold production to be around 640,000 ounces. This compares to its original guidance of 700,000 to 760,000 ounces, which was then reduced twice, most recently to 650,000 ounces. Costs are also expected to be higher than expected and future production will be lower than guided to.
Best and worst ASX 200 performers
The best performer on the ASX 200 index on Monday by some distance is the Imugene share price with a 40% gain. This follows the release of positive study results. Going the other way, the Evolution share price is far and away the worst performer with a 20% decline. This has been driven by its bleak guidance update.
