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ASX 200 Top movers: Boss Energy soars, Graincorp climbs, Megaport dips

Published 29/04/2024, 01:33 pm
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Investing.com - Boss Energy Ltd (ASX:BOE) emerged as the standout performer on the ASX 200 on Monday, surging by 7.9%. The company's surge followed the release of its inaugural quarterly report since it began uranium production at its Honeymoon project in South Australia.

Healthcare technology firm, Resmed Inc (ASX:RMD), also saw a significant uptick, advancing by 3.1%. The company's robust performance was attributed to an increase in profits and revenue, as indicated in its most recent quarterly results.

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Graincorp Ltd (ASX:GNC) also experienced a boost, with its shares rising by 1.5%. The growth came after ASX activist fund HMC Capital Ltd (ASX:HMC) revealed a 5% stake in the grain handling company, acquired after the close of trading last Friday.

In contrast, Megaport Ltd (ASX:MP1), a tech company, faced a downturn, with its shares falling by 3.8%. Despite raising its FY24 EBITDA guidance to a range of $56 million to $58 million, the company's recurring revenue and key performance indicators for the quarter fell short of analyst expectations, leading to the share price drop.

TPG Telecom Ltd (ASX:TPG) saw a 4.1% rise following the announcement of a network agreement with fellow telecommunications company, Optus. The deal, expected to cost TPG Telecom $1.17 billion over 11 years, will dramatically extend TPG Telecom's 4G and 5G mobile network coverage to reach 98.4% of Australians by more than tripling its regional mobile sites.

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Lastly, Star Entertainment Group Ltd (ASX:SGR) experienced a 2.6% boost. This came after Chairman David Foster stepped down from the troubled casino operator, with board member Anne Ward taking over the role.

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