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ASX 200 midday update: TechnologyOne hits record high, lithium miners rise

Here’s what is happening on the ASX 200 today…
The post ASX 200 midday update: TechnologyOne hits record high, lithium miners rise appeared first on The Motley Fool Australia. –

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week on a positive note. The benchmark index is currently up 0.5% to 7,521.9 points.

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

TechnologyOne’s UK acquisition

The TechnologyOne Ltd (ASX: TNE) share price has climbed to a record high today after announcing an acquisition. The enterprise software company has entered into an agreement to acquire Scientia Resource Management for 12 million pounds (A$22.4 million). Scientia is a United Kingdom-based technology company servicing the higher education sector.

Lithium miners charge higher

One area of the market performing particularly positively today is the lithium sector. The likes of Mineral Resources Limited (ASX: MIN) and Pilbara Minerals Ltd (ASX: PLS) are recording solid gains despite there being no news out either company. Investors appear increasingly bullish on the lithium sector due to rising demand for the battery making ingredient from the electric vehicle market.

Bendigo and Adelaide Bank shares fall

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is tumbling lower today. However, this has nothing to do with the regional bank’s performance. Instead, this decline has been driven by its shares going ex-dividend this morning. Eligible shareholders can now look forward to receiving its fully franked 26.5 cents per share final dividend on 30 September.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Mesoblast limited (ASX: MSB) share price with a 5.5% gain. Investors have been picking up shares after a sizeable decline in August. The worst performer has been the Bendigo and Adelaide Bank share price with a 3% decline after going ex-dividend this morning.

The post ASX 200 midday update: TechnologyOne hits record high, lithium miners rise appeared first on The Motley Fool Australia.

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More reading

ASX Tech shares are lagging behind the ASX 200 on Friday

What shares are moving the ASX 200 on Friday?

The Pilbara Minerals (ASX:PLS) share price is up 5% on Friday
Why the Mineral Resources (ASX:MIN) share price is lifting today
How does the Mineral Resources (ASX:MIN) dividend compare to the materials sector?

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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