At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has given back its early gains and dropped into the red. The benchmark index is currently down 0.2% to 6,776.6 points.
Here's what is happening on the ASX 200 today:
EML crashes on Ireland update
The EML Payments Ltd (ASX: EML) share price is crashing deep into the red on Monday. This follows news that the Central Bank of Ireland has not approved the company's remediation programme for its European operations. The bank identified "shortcomings" in components of the programme, principally the sequencing and approach taken to the risk assessment of its distributors, corporates and customers.
Flight Centre upgrades guidance
The Flight Centre Travel Group Ltd (ASX: FLT) share price is having a strong day thanks to a guidance upgrade from the travel agent. The company revealed that a strong finish to the financial year means that it expects a lower operating loss than previously guided to. Flight Centre expects to record an underlying EBITDA loss of between $180 million and $190 million in FY 2022. This is an 11.9% improvement on the mid-point of the company's initial FY 2022 guidance.
South32 shares higher on quarterly update
The South32 Ltd (ASX: S32) share price is pushing higher today following the release of a solid production update from the mining giant. Among the highlights were Alumina production up 3% quarter on quarter to 1,361kt and aluminium production up 5% to 255kt. South32 also revealed that it expects to achieve its operating cost guidance for most commodities in FY 2022.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Flight Centre share price with a 5.5% gain. This follows the travel agent's guidance update. Going the other way, the EML share price has been the worst performer by some distance on Monday. The embattled payments company's shares are down 20% at lunch following its Ireland update.
