ASX 200 down 0.1%: APRA removes bank dividend restrictions, Fortescue slides, Zip higher

Fortescue Metals Group Limited (ASX:FMG) and Zip Co Ltd (ASX:Z1P) shares are making a splash on the ASX 200 on Tuesday…

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to give back some of yesterday's gains. The benchmark index is currently down 0.1% to 6,651.3 points.

Here's what has been happening on the market today:

APRA removes dividend restrictions.

Shareholders of Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four banks were given a lift today after APRA revealed that it will no longer hold banks to a minimum level of earnings retention. This means the big four will be able to pay out as much as their earnings to shareholders as they see fit. Though, APRA has requested the banks be vigilant with their dividend payments.

Iron ore price pulls back.

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares have come under pressure today and are weighing on the ASX 200. Investors have been selling their shares after the price of iron ore pulled back during overnight trade. According to CommSec, the spot iron ore price dropped approximately 3.9% to US$154.50 a tonne.

Zip signs Harvey Norman partnership.

The Zip Co Ltd (ASX: Z1P) share price is pushing higher today after announcing a partnership with the franchisees of Harvey Norman Holdings Limited (ASX: HVN) and its subsidiaries Domayne and Joyce Mayne. The partnership will see the retailers offer their customers the ability to pay with Zip's BNPL payment solutions.

Best and worst ASX 200 performers.

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has been the best performer on the ASX 200 on Tuesday with a 3.5% gain. This is despite there being no news out of the plumbing parts company. The worst performer has been the Mesoblast limited (ASX: MSB) share price with a 12% decline following the release of disappointing trial results.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Reliance Worldwide Limited and ZIPCOLTD FPO. The Motley Fool Australia has recommended Reliance Worldwide Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Broker written in white with a man drawing a yellow underline.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Analysts are expecting outsized returns from these shares in 2026.

Read more »

Farmer with arms folded looking ahead.
Broker Notes

What is Morgans' view on GrainCorp shares after monster sell-off?

Is it time to buy-low after the sell-off?

Read more »

Person handing out $50 notes, symbolising ex-dividend date.
Dividend Investing

Where I'd invest $10,000 into ASX dividend shares right now

I think these businesses are a strong buy for passive income.

Read more »

three men stand on a winner's podium with medals around their necks with their hands raised in triumph.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy end to the trading week this Friday.

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A business person directs a pointed finger upwards on a rising arrow on a bar graph.
Share Gainers

3 ASX 200 stocks storming higher in this week's sinking market

Investors have sent these three ASX 200 stocks soaring this week. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Market News

Why Aeris Resources, Netwealth, Nova Minerals, and Paragon Care shares are dropping today

These shares are under pressure on Friday. Let's find out why.

Read more »