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.
Hereâs 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 companyâs remediation programme for its European operations. The bank identified âshortcomingsâ 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 companyâs 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 agentâs guidance update. Going the other way, the EML share price has been the worst performer by some distance on Monday. The embattled payments companyâs shares are down 20% at lunch following its Ireland update.
The post ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade appeared first on The Motley Fool Australia.
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More reading
- EML share price crashes 22% on Ireland warning
- South32 share price higher on solid Q4 update
- Flight Centre share price storms 5% higher on guidance upgrade
- Up 10% so far in July, is the CSL share price heading back above $300?
- 5 things to watch on the ASX 200 on Monday
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. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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