ASX 200 up 0.5%: BHP impresses, NAB rises, Zip rockets

BHP Group Ltd (ASX:BHP) and National Australia Bank Ltd (ASX:NAB) shares are making waves on the ASX 200 on Tuesday…

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At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to build on yesterday’s solid gain. The benchmark index is currently up 0.5% to 6,904.8 points.

Here’s what is happening on the market today:

BHP half year result impresses

The BHP Group Ltd (ASX: BHP) share price is pushing higher today after investors responded positively to its half year results. The mining giant delivered a 15% increase in half year revenue to US$25.64 billion and a 21% jump in underlying EBITDA to US$14.7 billion. This was driven largely by strong profits from its iron ore and copper businesses. And thanks to its strong free cash flow generation, the BHP board declared an interim dividend of US$1.01 per share (~A$1.30 per share). This is up 55% on the prior corresponding period.

NAB share price rises on Q1 update

The National Australia Bank Ltd (ASX: NAB) share price is pushing higher today following the release of its first quarter update. For the three months ended 31 December, NAB reported an unaudited statutory net profit of $1.7 billion and cash earnings of $1.65 billion. The latter was a 1% increase on the prior corresponding period. Another positive was that the bank’s credit impairment charges fell 98% compared with the quarterly second-half average of FY 2020.

Ansell half year update

The Ansell Limited (ASX: ANN) share price is edging lower today following the release of its half year results. For the six months ended 31 December, the personal protection safety solutions provider reported sales growth of 24.5% to US$937.8 million. Thanks to stronger margins, Ansell reported a 61.9% increase in net profit to US$106.5 million. In light of this strong half, the Ansell board raised its interim dividend by 52.6% to 33.2 US cents.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Zip Co Ltd (ASX: Z1P) share price with a 12% gain on no news. The buy now pay later provider’s shares are now up 150% since the start of the year. The worst performer has been the Treasury Wine Estates Ltd (ASX: TWE) share price with a 6% decline. Investors appear nervous ahead of the wine company’s half year results tomorrow.

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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended Ansell Ltd. 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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