At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is out of form again and trading lower. The benchmark index is currently down 0.2% to 7,319.8 points.
Here's what is happening on the ASX 200 today:
Zip delivers strong second quarter growth
The Zip Co Ltd (ASX: Z1P) share price is trading lower today despite smashing records in the second quarter. The buy now pay later provider reported a 53% increase in transaction volume to a record of $2.6 billion and a 58% lift in quarterly revenue to a record of $167.4 million. A key driver of this growth was a 57% increase in customer numbers to 9.9 million.
Netwealth Q2 update
The Netwealth Group Ltd (ASX: NWL) share price is pushing higher today after reporting a $4.7 billion or 9% quarterly increase in funds under administration (FUA) during the second quarter. The $4.7 billion increase comprises quarterly net inflows of $3.6 billion and $1.1 billion in positive market movements. This took Netwealth's FUA to $56.6 billion at the end of December, which is up 46% year on year.
Santos and Woodside deliver record revenue
Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) had strong fourth quarters. This morning both companies reported record quarterly revenue thanks largely to rising commodity prices. You can read about Santos' performance here and Woodside's here. However, it appears as though the market was expecting even better. Both shares are trading largely flat at lunch.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Evolution Mining Ltd (ASX: EVN) share price with a 9% gain. Investors have been buying gold miners today, driving the S&P/ASX All Ordinaries Gold index 6% higher. The worst performer has been the Premier Investments Limited (ASX: PMV) share price with a 4% decline on no news.
