Which ASX shares are leading the way on the ASX 300?

The ASX 300 is starting the week in negative territory.
The post Which ASX shares are leading the way on the ASX 300? appeared first on The Motley Fool Australia. –

The S&P/ASX 300 Index (ASX: XKO) is off to a poor start on Monday, erasing all of last week’s gains.

During morning trade, the ASX 300 is down 0.66% to 7,478 points. Currently, the index is around 2.2% off its all-time high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the biggest movers today.

Alumina Limited (ASX: AWC)

The Alumina share price soared 9.27% to $2.18 in early morning trade, despite no market-sensitive news out of the company today.

The alumina producer released its half-year results to the market late last month, highlighting record bauxite and alumina production.

However, after the company’s shares reached a 52-week high of $2.18 today, investors have been quick to take profit. At the time of writing, Alumina shares are trading at $2.075, up 4%.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is storming higher with a 5.47% gain to $1.06.

The emerging lithium producer will be added to the ASX 300 index after surging in value due to investor interest. This will occur on 20 September.

Liontown Resources is focusing on developing its world-class Kathleen Valley Lithium Project.

Tyro Payments Ltd (ASX: TYR)

Another strong mover for the start of the week is the Tyro share price, up 4.13% to $3.90.

The payments company provided its weekly trading update to the ASX, revealing an increase in revenue for August. As such, earnings for last month have grown 20% to $2.048 billion compared to the prior corresponding period.

Management also noted that the strong tailwinds have continued into FY22, with September revenue up 13% on September 2020’s result.

Tyro Payments will be included in the ASX 200 index.

And which ASX 300 companies are heading the other way?

Hansen Technologies Limited (ASX: HSN)

Freefalling today is the Hansen share price, down 8.75% to $5.63.

The billing technology company advised that BGH Capital has withdrawn its offer to acquire 100% of the shares in Hansen.

Previously, BGH Capital tabled an offer to buy each Hansen share at $6.50 apiece.

The decision to withdraw from the proposal followed the conclusion of BGH’s extensive due diligence. However, no particular reason was given to the market.

Fortescue Metals Group Limited (ASX: FMG)

Also being weighed down by investors today is the Fortescue share price, down 9.26% to $18.92. The iron ore mining giant is trading ex-dividend today.

This means that investors who held Fortescue shares beforehand could sell their holding now and still be eligible for the upcoming dividend.

The board declared a fully-franked final dividend of $2.11 per share, which will land in shareholder accounts on 30 September.

The post Which ASX shares are leading the way on the ASX 300? appeared first on The Motley Fool Australia.

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More reading

ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise

Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
Hansen (ASX:HSN) share price sinks 13% after withdrawn acquisition proposal
Why the Fortescue (ASX:FMG) share price is crashing 11% today
ASX 200 Weekly Wrap: ASX puts earnings season to bed with another rise

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hansen Technologies and Tyro Payments. 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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