ASX 200 (ASX:XJO) midday update: Afterpay hits 52-week low, energy shares rise

The ASX 200 is in the red on Wednesday…

| More on:
A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements

Image source: Getty Images

At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is giving back some of yesterday’s strong gains. The benchmark index is currently down 0.1% to 7,580.8 points.

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

Afterpay shares hit 52-week low

The Afterpay Ltd (ASX: APT) share price has continued its slide and hit a new 52-week low on Wednesday. This follows another poor performance by the Block share price overnight, which is reducing the value of its takeover proposal for Afterpay. Also falling on Wednesday is the Zip Co Ltd (ASX: Z1P) share price, which is trading just a touch short of its 52-week low. Elsewhere, the Affirm share price sank 10% overnight.

Premier Investments shares fall

The Premier Investments Limited (ASX: PMV) share price is tumbling lower today. However, this decline is largely due to the retail conglomerate’s shares trading ex-dividend this morning. Shareholders of the Peter Alexander and Smiggle operator can look forward to receiving its fully franked 46 cents per share final dividend on 27 January.

Energy shares rise

It has been a good day for energy shares including Santos Ltd (ASX: STO) and Origin Energy Ltd (ASX: ORG). They are pushing higher despite the market weakness thanks to a rise in oil prices overnight. Prices pushed higher despite OPEC revealing that it will go ahead with its plan to raise its output target by 400,000 barrels per day next month.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Sims Ltd (ASX: SGM) share price with a 3% gain on no news. Going the other way, the worst performer has been the Pro Medicus Limited (ASX: PME) share price with a 6.5% decline after being downgraded by Morgans and amid broad weakness in the tech and healthcare sectors.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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 and has recommended Afterpay Limited, Pro Medicus Ltd., and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Afterpay Limited and Pro Medicus Ltd. The Motley Fool Australia has recommended Premier Investments 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

A group of people in suits watch as a man puts his hand up to take the opportunity.
Blue Chip Shares

2 ASX blue-chip shares this top fund manager thinks are good value

Wilson Asset Management offers its thoughts on a couple of blue-chip shares.

Read more »

Illustration of men and women pushing share price graph up
Share Market News

Why are ASX 200 shares rebounding on Friday?

China's COVID-zero policies have slowed its economic growth and impacted its trading partners.

Read more »

Boy looks quizzical standing in front of a graph.
Share Market News

Here are the 3 most traded ASX 200 shares on Friday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

What’s moving the CBA share price higher this week?

Australia's banks are expected to reap higher profits as the RBA increases the official cash rate.

Read more »

a woman in a wheelchair sits at her desk in her home with headphones on and looking at a computer screen of figures. monitoring the CBA share price
Share Market News

ASX 200 midday update: BHP, IGO, and Woolworths charge higher

The ASX 200 is ending the week strongly...

Read more »

A woman wearing a pink blouse and straw hat holds up a cannabis leaf with tall green cannabis plants in the background
Cannabis Shares

Remember when ASX cannabis shares were smoking hot? Where are they now?

Newly legalised recreational and medicinal marijuana markets aren't getting the media hype they once did.

Read more »

Broker looking at the share price on her laptop with green and red points in the background.
Share Market News

5 things to watch on the ASX 200 on Friday

The ASX 200 is expected to have a subdued finish to the week...

Read more »

Top 10 ASX shares today
Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Thursday.

Read more »