ASX 200 up, Zip rises, Aristocrat Leisure reports

The S&P/ASX 200 Index (ASX:XJO) went up by 0.2% today. Zip Co Ltd (ASX:Z1P) revealed some acquisitions, sending the share price higher.

| More on:

Image source: Getty Images

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

The S&P/ASX 200 Index (ASX: XJO) went up by 0.2% today to 7,046 points.

Here are some of the highlights from the ASX:

Zip Co Ltd (ASX: Z1P)

The Zip share price rose around 1% today after revealing some global acquisitions.

It's buying the European buy now, pay later (BNPL) provider Twisto Payments and it has also entered into an agreement to acquire the Middle East, UAE-based BNPL leader Spotii.

Zip said these strategic transactions will enable it to respond to the increase demand from merchants for a single global BNPL solution across multiple markets with a consistent global service quality.

The ASX 200 BNPL business already owns some shares of these two businesses, so whilst they are worth $180 million, the transactions will cost a combined amount of $160 million.

Twisto has over 1 million customers that have transacted on the platform with an annual run-rate of $12 million revenue and $230 million total transaction value (TTV) as well as 14,000 merchants. Some merchants include Pizza Hut, Gap and Under Armour.

Spotii is operational in both the Kingdom of Saudi Arabia and UAE. It's poised to expand further in the region.

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat Leisure share price was flat after reporting its FY21 half-year result.

The ASX 200 business said that its operating revenue fell by 1% to $2.23 billion. Normalised earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 6% to $750.3 million. It also reported that normalised net profit after tax (NPAT) rose by 18.4%.

However, looking at the reported result, profit after tax fell 73.5% to $346.5 million. The reported result for the prior corresponding period included the significant item of a deferred tax asset of approximately $1.1 billion which is expected to generate long-term cash tax savings.

Aristocrat Leisure CEO and managing director Travor Croker said:

The results are reflected in the share growth and margin expansion achieved across digital and key gaming segments in the six months to 31 March 2021 and the double-digit increased it normalised NPATA delivered in the same period.

We expect uncertain and volatile conditions to continue near term, and we are closely monitoring key factors including consumer sentiment and gaming venue patronage.

Nevertheless, we enter the second half of fiscal 2021 with excellent momentum, resilience and confidence with a strong balance sheet to continue to invest organically to grow share and accelerate growth through M&A in line with rigorous criteria.  

New Hope Corporation Limited (ASX: NHC)

The New Hope share price rose by by 0.4% today after giving its quarterly update.

The coal miner reported that its total saleable coal production for the three months to 30 April 2021 was down 3.3%. For the nine months to April 2021, total saleable coal production was down 20.4%.

It generated EBITDA of $101 million with "strong" cash generation for the quarter resulting from consistent production combined with improved realised prices. The Newcastle coal price has increased by 78% since September 2020. The mining company expects pricing will continue to improve, the company is well placed to finish the year with a solid financial result. Increased economic activity in Asia and cooler than expected temperatures has translated into stronger pricing and demand.

Tristan Harrison 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 has no position in any of the stocks mentioned. 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

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

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

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »