Fortescue rockets, Afterpay sales explode, Westpac APRA update

At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. The benchmark index is currently up 0.3% to 6,610.3 points.

Here’s what is happening on the market today:

Iron ore producers storm higher.

The resources sector is playing a key role in driving the ASX 200 higher on Thursday. A solid rise in the spot iron ore price overnight has led to the likes of BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) storming higher today. The latter is up a massive 11.5% at the time of writing. According to CommSec, the benchmark iron ore price is trading at a six-year high of US$136.75 a tonne.

Afterpay update.

The Afterpay Ltd (ASX: APT) share price is dropping lower today despite the…