ASX 200 up 0.7%; Zip trading update, Ampol buyback, IAG sinks

At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a positive note. The benchmark index is currently up 0.7% to 6,585.7 points.

Here’s what has been happening on the market today:

Zip Co update.

The Zip Co Ltd (ASX: Z1P) share price is edging lower despite revealing strong growth for the first four months of FY 2021. The buy now pay later (BNPL) provider delivered a 91% increase in BNPL revenue to $96.7 million for the period. Approximately $27.6 million of this was generated in October. Management also revealed that trading had been strong in November, with all regions set to deliver step change month-on-month growth.

Ampol $300 million buyback.

The Ampol Ltd (ASX: ALD) share price is jumping…