ASX 200 (ASX:XJO) midday update: Zip’s record month, Domino’s crashes

It has been another positive day for the Australian share market…

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on form again and pushing higher. The benchmark index is currently up 0.3% to 7,415.6 points.

Here’s what is happening on the ASX 200 today:

Zip trading update

The Zip Co Ltd (ASX: Z1P) share price is trading flat today despite revealing a record performance during October. At its annual general meeting, Zip’s Managing Director and CEO, Larry Diamond, advised that total transaction value (TTV) increased 94% over the prior corresponding period in October to over $770 million. This represents a 24% month on month increase and annualises at over $9 billion.

Square shareholders approve Afterpay takeover

The Afterpay Ltd (ASX: APT) share price is rising today after its takeover by Square took a major step towards completion. This morning the payments company revealed that Square’s shareholders have voted in favour of the deal. Afterpay advised that it expects the transaction to complete within the first quarter of calendar year 2022.

Domino’s shares crash

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is crashing on Thursday after investors responded negatively to its trading update. That update revealed a severe deterioration in the performance of the Domino’s Japan business once COVID restrictions lifted. As a result, management warned that it can no longer forecast whether FY 2022 Japan sales and earnings would surpass those recorded in FY 2021.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the NIB Holdings Limited (ASX: NHF) share price with a 5% gain. This follows the release of the private health insurer’s annual general meeting update. The worst performer has been the Domino’s share price with a 13% decline following its trading update.

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Motley Fool contributor 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 and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and NIB Holdings Limited. 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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