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:
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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.
