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ASX 200 set to rise – Z1P, ALL & FMG shares in focus

The S&P/ASX 200 (ASX: XJO) managed to finish just 0.2% higher on Monday as strength in the banking sector including the Commonwealth Bank of Australia (ASX: CBA) offset weakness in materials.

CBA is once again trading at an all-time high and just $1.24 short of the $100 mark.

CBA share price chart

Source: Rask Media 1-year CBA share price chart

Iron ore price slides

Iron ore and commodities were the talk of the day, however, with the iron ore price falling 5.3% overnight and sending the likes of Fortescue Metals Group Limited (ASX: FMG) down over 4%.

The key driver was a stern announcement from the Chinese Government that speculation in key commodity and futures markets would not be tolerated, suggesting this had been the driver behind recent record prices.

BHP Group Ltd (ASX: BHP) was relatively immune, falling only 1.8% on the news.

Zip keeps buying

Zip Co Ltd (ASX: Z1P) announced that it would be taking full control of Spotii Holdings and Twisto Payments for $160 million as the pursuit of global domination continues.

Spotii is a BNPL player based in the United Arab Emirates and Twisto in Europe, with Zip having already held minority stakes in each business.

The acquisition aims to ensure its offering is able to span borders for major merchant customers. Zip shares finished 0.8% higher.

Aristocrat profit slashed

Pokie machine designer Aristocrat Leisure Limited (ASX: ALL) announced half-year results, reporting a 73.5% fall in statutory profit to $346 million. However, on a normalised basis the result was actually an 18% increase due to large one-off gains in 2020.

Revenue was remarkably resilient in the six months to March 2021, falling just 1% to $2.22 billion with an expansion in margin to 33.7% offering operating leverage.

Of most concern was the near halving of cash flow, down 42.2% to $358 million with continued R&D required.

Shares were just 0.1% higher despite the company reinstating a dividend of 15 cents per share.

Featured video: How to analyse a financial report

Freedom Foods returns gathers steam

Cereal maker Freedom Foods Group Ltd (ASX: FNP) is nearing a recovery, announcing the successful raising of $265 million to ‘wholesale’ investors.

The raising was made as a secured and convertible note which will likely act to further dilute long-term shareholders when actioned. Freedom Foods shares finished 3.5% higher.

Kogan share price bounces back

Kogan.com Ltd (ASX: KGN) jumped 14.7% as it starts to recover from the week from hell whilst the end of financial year sales on its website ramp up.

Hotel Property buys up

Hotel Property Investments Ltd (ASX: HPI) remained flat despite announcing the acquisition of seven new pubs for $32 million all leased to Australian Venue Co.

ASX 200 today

Looking ahead, the ASX 200 is expected to follow US markets higher at the open on Tuesday. The Nasdaq was a standout, jumping 1.4%. For all the latest, check out Rask Media’s US stock market report.

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Are you stuck wondering where to invest right now? Have you got cash 'sitting on the sidelines'? Are you looking for dividend income AND growth but don't know where to start? Rask's expert ASX analyst team has just released a full report, detailing where we'd invest $10,000 right now.

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So, whether you have $2,000 or $50,000, our brand new analyst report could help transform your watchlist. Right now, you can get the full analyst report emailed to you for FREE by CLICKING HERE NOW.

Disclosure: At the time of publishing, Drew owns shares in Zip.

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