CBA half year update, IAG impresses, Zip shoots higher

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is bouncing back from yesterday’s decline. The benchmark index is currently up 0.35% to 6,845.3 points.

Here’s what is happening on the market today:

Commonwealth Bank half year result

The Commonwealth Bank of Australia (ASX: CBA) share price is trading lower today following the release of its half year results. For the six months ended 31 December, the banking giant reported a 0.5% decline in operating income to $11,961 million and a 10.8% decline in cash net profit after tax from continuing operations to $3,886 million. Excluding COVID-19 impacts and remediation costs, the bank’s cash profit would have been broadly flat. Commonwealth Bank declared a fully franked…