Here’s a look at the top movers among the ASX 300 index today.
The post Who’s starting the week off as the biggest mover on the ASX 300 today? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is in reverse today after reaching a record high of 7,625 points on Friday.
At the time of writing, the ASX 300 is trading around 7,592 points, down 0.39%.
Let’s take a look at the biggest movers on the ASX 300 this Monday.
Who are the biggest gainers today?
PPK Group Ltd (ASX: PPK)
Despite no news being released, the best performer on the ASX 300 today is PPK Group. The technology and mining equipment company provided its last update on Thursday. PPK Group revealed its 60% owned subsidiary, White Graphene, is assembling its initial production module prior to commission for full-scale production.
At the time of writing, PPK Group shares are up 14.54% to $16.70. It’s worth noting that the company’s share price reached an all-time high of $16.97 during midday trade.
A2 Milk Company Ltd (ASX: A2M)
Next up, A2 Milk shares have catapulted higher following talks about the company being a potential takeover target. Speculation is rife about global food and beverage giant Nestle considering buying out the infant formula business.
Although, according to The Australian, an offer won’t be made until after A2 Milk releases its full-year results later this month.
A2 Milk shares are currently rocketing 13.76% higher to $6.78 apiece.
Liontown Resources Ltd (ASX: LTR)
Coming in third place is emerging lithium producer Liontown Resources. The company’s shares soared 5.76% to $1.01 earlier today before settling at 96.7 cents at the time of writing.
While Liontown hasn’t provided any price-sensitive announcements since last Tuesday, it appears investors are reacting to a broker note released today.
According to Bell Potter, its analysts raised the 12-month price target for Liontown shares by an astonishing 118% to $1.33. This implies an upside of roughly 31% based on the current share price.
And the biggest fallers?
Bendigo and Adelaide Bank Ltd (ASX: BEN)
Heading south today is Bendigo and Adelaide Bank shares. The regional bank is down a sizeable 9.46% to $10.05.
This follows the company’s release of its FY21 full-year results. Bendigo and Adelaide Bank reported a relatively solid year with cash earnings surging 52% over the prior corresponding period. However, it appears investors may be concerned about the company’s net interest margin falling 7 basis points over the 12 months.
Accent Group Ltd (ASX: AX1)
The last big mover for the day is Accent Group shares, down 9.4% to $2.41.
While the company hasn’t provided the market with any price-sensitive news, a broker downgrade from Citi last week could be a catalyst.
The global investment house cut its rating of Accent shares to “sell” from neutral, with a reduction of 19% to $2.50 on its shares.
The post Who’s starting the week off as the biggest mover on the ASX 300 today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras owns shares of A2 Milk. 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 recommended A2 Milk and Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.