At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. The benchmark index is currently down 0.45% to 7,087.4 points.
Here's what is happening on the ASX 200 today:
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ANZ share price falls on Q1 update
The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has tumbled lower today following the release of its first quarter update. While the bank didn't provide the market with financials, it did advise that a poor performance for its Markets business in October is expected to impact its first half results. ANZ also revealed that its net interest margin (NIM) fell 8 basis points during the quarter.
Magellan shares sink
The Magellan Financial Group Ltd (ASX: MFG) share price is crashing lower on Monday following the release of another disappointing funds under management update and news that its Chairman and Chief Investment Officer, Hamish Douglass, is taking a leave of absence. This follows "a period of intense pressure and focus on both his professional and personal life."
James Hardie Q3 update
The James Hardie Industries plc (ASX: JHX) share price is rising today following the release of its third quarter update. The building products company reported a 22% increase in global net sales to US$900 million and a 25% lift in adjusted net income to US$154.1 million. Management advised that this reflects strong price/mix growth in all three regions.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Graincorp Ltd (ASX: GNC) share price with a 13% gain. This morning the grain exporter revealed that it expects FY 2022's underlying net profit after tax to come in at $235 million to $280 million. This is up from $139 million in FY 2021. The worst performer has been the Magellan share price with an 11% decline following its two aforementioned announcements.
