At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. The benchmark index is currently up 0.1% to 7,038.4 points.
Here’s what is happening on the market today:
Aristocrat Leisure half year results
The Aristocrat Leisure Limited (ASX: ALL) share price is trading largely flat on Monday following the release of its half year results. For the six months ended 31 March, the gaming technology company reported a normalised net profit after tax (NPAT) of $362.2 million. This is an increase of 18.4% on the prior corresponding period. The normalised result excludes a $1.1 billion deferred tax benefit from a year earlier. Aristocrat’s profit growth was driven by strong performances from both its Gaming and Digital businesses.
Zip global expansion continues
The Zip Co Ltd (ASX: Z1P) share price is pushing higher today after announcing its expansion into Europe and the Middle East. The buy now pay later (BNPL) provider will achieve this via the acquisition of European BNPL provider Twisto Payments and UAE-based BNPL provider Spotii. Zip had previously bought stakes in both companies. Management notes that the transactions align with Zip’s global expansion plans and the rapidly accelerating global BNPL opportunity.
Iron ore price weighs on mining giants
The BHP Group Ltd (ASX: BHP) share price and the Rio Tinto Limited (ASX: RIO) share price are weighing on the ASX 200 index today. Both mining giants’ shares are underperforming after the spot iron ore price continued its retreat. According to Metal Bulletin, the spot iron ore price fell a sizeable 5.3% to US$200.72 a tonne on Friday.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Corporate Travel Management Ltd (ASX: CTD) share price with a 4% gain. This morning analysts at Macquarie upgraded the corporate travel specialist’s shares to an outperform rating. The worst performer has been the EML Payments Ltd (ASX: EML) share price with a 5% decline. Concerns over its European operations continue to weigh on its shares.