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

The ASX 200 is in the red on Wednesday…
The post ASX 200 (ASX:XJO) midday update: Afterpay hits 52-week low, energy shares rise appeared first on The Motley Fool Australia. –

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 amid broad weakness in the tech and healthcare sectors.

The post ASX 200 (ASX:XJO) midday update: Afterpay hits 52-week low, energy shares rise appeared first on The Motley Fool Australia.

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More reading

LNG hit record highs in 2021 so why did the Santos (ASX:STO) share price struggle?

Afterpay (ASX:APT) share price sinks 5% to new 52-week low

These were the 5 worst performing ASX hydrogen shares of 2021

5 things to watch on the ASX 200 on Wednesday

Here are the top 10 ASX shares today

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.

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