Month: May 2022

Today, the S&P/ASX 200 Index (ASX: XJO) followed Wall Street off the edge of a cliff. Investors exited retailers amid concerns of earnings pressure from inflation after a disappointing first quarter result from Target. At the end of the session, the benchmark index finished 1.65% lower at 7,064.5 points.

To the disappointment of shareholders, there were minimal glimmers of green in the Australian share market today. The sole sector managing to catch a bid and stay above the red sea was healthcare. Meanwhile, the rest of the index felt the pain of pessimism on Thursday.

In a rare sight to see, consumer staples fell more than tech. The sector, which is typically considered more stable, was trodden on amid concerns the broader retail sector could be adversely affected by inflation.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Aristocrat Leisure Ltd (ASX: ALL) was the biggest gainer today. Shares in the gaming technology company jumped 6.74% after publishing cracking half year results and announcing a $500 million share buyback. Find out more about Aristocrat Leisure here.

The next best performing ASX share across the market today was Evolution Mining Ltd (ASX: EVN). The gold miner moved 2.04% ahead as the gold price inched higher in the last 24 hours. Uncover the latest Evolution Mining details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Aristocrat Leisure Ltd (ASX: ALL)	$33.73	6.74%
Evolution Mining Ltd (ASX: EVN)	$3.50	2.04%
Genesis Energy Ltd (ASX: GNE)	$2.46	1.65%
Northern Star Resources Ltd (ASX: NST)	$8.71	1.63%
Webjet Ltd (ASX: WEB)	$5.87	1.38%
Pro Medicus Ltd (ASX: PME)	$40.76	1.32%
Skycity Entertainment Group Ltd (ASX: SKC)	$2.54	1.20%
Meridian Energy Ltd (ASX: MEZ)	$4.21	0.96%
Challenger Ltd (ASX: CGF)	$7.47	0.81%
Ebos Group Ltd (ASX: EBO)	$35.28	0.77%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Has the ANZ dividend been growing?
• These 3 shares are topping the ASX 200 volume charts on Thursday
• 3 ASX 200 shares defying today’s carnage to climb higher
• Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher
• Zip share price dives to yet another multi-year low

Motley Fool contributor Mitchell Lawler has positions in Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Challenger Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/wGJ9bUs

The Imugene Limited (ASX: IMU) share price took off today despite the company’s silence.

However, today’s gains might have been a belated reaction to the news the company announced to the ASX yesterday.

As of Thursday’s close, the Imugene share price is 20 cents. That’s 17.65% higher than it was at the end of Wednesday’s session. It reached an intraday high of 21.5 cents today, representing a 26.47% gain.

For context, the S&P/ASX 200 Index (ASX: XJO) finished the day 1.6% lower.

Let’s take a closer look at the latest news from the clinical-stage immuno-oncology company.

Did this drive the Imugene share price today?

The Imugene share price leapt higher today as the healthcare sector outperformed.

In fact, the stock’s sector, represented by the S&P/ASX 200 Health Care Index (ASX: XHJ), was the only one in the green today. It closed 0.1% higher and was, perhaps unsurprisingly, led by Imugene.

The stock’s movement comes one day after the company announced the first patient has been dosed in its phase 1 clinical trial of its cancer-killing oncolytic virus CF33-hNIS, Vaxinia.

The trial is the first time the virus has come up against tumours in humans.

It has previously been shown to shrink colon, lung, breast, ovarian, and pancreatic cancer tumours in preclinical laboratory and animal models.

The study is being run in partnership with City of Hope. That’s the cancer treatment and research organisation that developed the virus. The study aims to recruit 100 patients across Australia and the United States.

The Imugene share price gained 3% yesterday. Though, the stock has notably underperformed throughout 2022 so far.

It is 53% lower than it was at the start of 2022. It has also fallen 50% since this time last year.

The post Imugene share price surges 18% to lead the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• 2 ASX All Ordinaries shares having a cracking day, despite the carnage
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• Here’s why the Imugene share price just got a boost
• Why Imugene, Integrated Research, Monash IVF, and Step One shares are sinking
• ASX 200 midday update: Brambles rockets, Goodman upgrades guidance

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/hx9Miks

It’s been a good year for commodities in general with prices reaching all-time highs. Both ASX lithium shares and oil producers have benefited from the prevailing supply and demand dynamics, making investors wealthy in the process.

Oddly enough, both commodities could be considered in competition with each other: oil being the old energy, and lithium the new. However, recent events have demonstrated there can be room for both to perform.

But which segment of energising ASX shares has outdone the other in the past 12 months?

Compare the pair

First of all, it can be difficult to compare entire segments of the stock market with each other. The timeframe and the sample of companies being weighed against each other can be manipulated to show different findings.

So, it’s important to note that this comparison looks at the performance over the last year with a handful of the largest lithium and oil companies.

A little hypothesis to start with… the performance of companies operating in commodities tends to be linked to the price of the underlying commodity itself. Based on this, we could assume the companies that have likely performed the best are the ones with the better performing commodity.

According to Trading Economics, the price of crude oil is up approximately 78% year on year, now hovering around US$110 per barrel. This is a substantial one-year price increase for crude oil.

However, the increase in the price of oil looks paltry compared to the approximate 410% increase in lithium carbonate prices. The expectation of future demand outstripping supply for the electric battery commodity led to an explosion in the lithium price.

But, how does this comparison play out in terms of ASX lithium and oil shares?

As shown in the chart above, both new and old energy shares have performed well in the last year. The least impressive return on our list is oil and gas giant Santos Ltd (ASX: STO). Whereas, the home run of the bunch is lithium explorer Liontown Resources Limited (ASX: LTR).

Are ASX lithium shares the victors?

The referenced chart indicates the top three best performers for the last 12 months are lithium shares. These are Liontown Resources, Pilbara Minerals Ltd (ASX: PLS), and Allkem Ltd (ASX: AKE). Impressively, all three delivered returns in excess of 100%.

Comparatively, oil producers such as Woodside Petroleum Limited (ASX: WPL) and Beach Energy Ltd (ASX: BPT) only conjured up gains of 33% and 28% respectively.

It is worth noting that many of the superior performing ASX lithium shares came off a lower base. In other words, it is easier to grow 100% when the company’s market capitalisation is $2 billion instead of $20 billion.

Nonetheless, it looks like lithium shares were the better bet for investors over the last year.

The post New or old energy: Have oil producers bested ASX lithium shares? appeared first on The Motley Fool Australia.

More reading

• These 3 shares are topping the ASX 200 volume charts on Thursday
• 5 things to watch on the ASX 200 on Thursday
• What’s dragging on ASX 200 energy shares like Santos today?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• ASX 200 energy shares in focus amid frightening global supply crisis

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/rAhyKmD

Fortunately for income investors, there are countless dividend shares for them to choose from on the Australian share market.

But with so many options, it can be hard to decide which ones to buy. To narrow things down, I have picked out three ASX dividend shares brokers think investors should buy:

BHP Group Ltd (ASX: BHP)

According to a note out of Macquarie, its analysts have retained their outperform rating and $60.00 price target on this mining giant’s shares. This follows the company’s presentation at a major industry conference this week. Macquarie came away from the event feeling confident in the Big Australian’s outlook, highlighting its potash plans and iron ore expansion options. As for dividends, Macquarie expects the miner to pay fully franked dividends of $5.01 per share in FY 2022 and $3.67 per share in FY 2023. Based on the current BHP share price of $46.23, this will mean yields of 10.8% and 7.9%, respectively.

Healius Ltd (ASX: HLS)

Another note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed their price target on this healthcare company’s shares to $5.20. The broker remains positive on Healius due to its valuation and expectation for a recovery in pathology volumes in FY 2023. In respect to dividends, Macquarie has pencilled in fully franked dividends of 17.3 cents per share in FY 2022 and 18 cents per share in FY 2023. Based on the current Healius share price of $4.19, this will mean yields of 4.1% and 4.3%, respectively.

Mineral Resources Limited (ASX: MIN)

Analysts at Credit Suisse have commenced coverage on this mining and mining services company’s shares with an outperform rating and $73.00 price target. Credit Suisse is positive on Mineral Resources due to its exposure to iron ore and particularly lithium. It also expects its pipeline of mining projects to support its growth in the coming years. And while the broker is only forecasting an 86 cents per share dividend in FY 2022, it expects a big increase to $4.41 per share in FY 2023. Based on the latest Mineral Resources share price of $59.33 this will mean fully franked yields of 1.45% and 7.4%, respectively.

The post Top brokers name 3 ASX dividend shares to buy today appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares rated as buys by experts amid inflation volatility
• Own BHP shares? Here’s what you need to know about the commodity predicted to be bigger than petroleum for the mining giant
• Why is the BHP share price charging 3% higher today?
• Top brokers name 3 ASX shares to buy today
• Macquarie reveals 2 sectors where bargain ASX shares still exist

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/D7bOgdz

The Little Green Pharma Ltd (ASX: LGP) share price avoided the market selloff on Thursday.

The vertically integrated medicinal cannabis company’s shares jumped 23% to 40 cents.

Why did the Little Green Pharma share price rocket higher?

Investors were bidding the Little Green Pharma share price today after the cannabis company released a positive update.

According to the release, the company has entered into a two-and-a-half year take-or-pay contract with new distribution partner, Four 20 Pharma, for the exclusive supply of the high-THC (25% THC) SMS strain into Germany.

The release notes that the agreement represents a minimum take-or-payment commitment of at least $7.5 million over 30 months. It also includes the payment of a development fee to help defray strain development costs.

Management isn’t resting on its laurels, though. The company revealed that it now intends to seek similar agreements for other new strains, as well as roll out the SMS strain into other jurisdictions.

Management commentary

Little Green Pharma’s Chief Executive Officer, Fleta Solomon, was pleased with the agreement. Solomon commented:

We are very excited by our new SMS strain as well as the opportunity to be partnering with Four 20 Pharma, one of the largest medicinal cannabis operators in Germany and with a highly successful track record of supplying its 420 Natural brand cannabis products into the German market.

The Agreement represents another significant milestone in LGP’s continued growth of its Danish Facility, as well as an exciting development in LGP’s supply processes that promises to dramatically shorten LGP’s supply timelines for future key strains.

We look forward to working closely with Four 20 Pharma to bring this highly-prospective new strain to market as quickly as possible.

Despite today’s strong gain, the Little Green Pharma share price has still lost a third of its value in 2022.

The post Why did the Little Green Pharma share price flame 23% higher today? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX dividend shares to buy today
• Has the ANZ dividend been growing?
• Why was the Pendal share price in freefall on Thursday?
• 2 ASX dividend shares rated as buys by experts amid inflation volatility
• 2 ASX All Ordinaries shares having a cracking day, despite the carnage

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/PIoXCgA

As an ASX 200 banking share, the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price arguably has some expectations to fill when it comes to paying dividends.

The big four ASX banks are staples of ASX investors’ share portfolios, and have been for decades. A large part of this fondness for bank shares is the banks’ proclivity to pay large, fully franked dividend payments.

On the surface, ANZ shares seem to be filling this implicit obligation with gusto today. As the bank currently stands, it has a fully franked dividend yield of 5.69% (or 8.13% grossed-up with the full franking) on the table.

But has the ANZ dividend been growing? After all, a growing dividend is a lot more valuable to an investor over a long period of time than a stagnant one.

Well, let’s look at the facts, shall we?

Is the ANZ dividend a grower?

ANZ’s current dividend yield comes from the bank’s two most recent dividend payments.

The first of these was the fully franked final dividend of 72 cents per share that investors saw paid out back in December. The second is the interim dividend of 72 cents per share (again fully franked) that investors will receive on 1 July later this year. ANZ shares traded ex-dividend for this payment on 9 May.

But how do these dividends compare to those investors have received in recent years?

Well, last year’s interim dividend was only worth 70 cents per share. So there has been a 2.86% year-on-year increase there. And last year’s final dividend of 72 cents was an even bigger jump against 2020’s final payment of 35 cents per share.

But that was in the midst of the initial COVID crisis, so arguably this comparison doesn’t count for too much.

Let’s go back to the pre-COVID world of 2019 then. Back in 2019, ANZ paid out two dividends worth 80 cents each. This was a repeat of the dividends that ANZ paid out back in 2018, 2017, and 2016. In 2015 the bank doled out an interim dividend of 86 cents per share and a final dividend of 95 cents.

So yes, the ANZ dividend has increased this year compared to last. But you don’t have to go back too far to see dividends from ANZ shares that were far higher than those on offer today. Make of that what you will.

The post Has the ANZ dividend been growing? appeared first on The Motley Fool Australia.

More reading

• These 3 shares are topping the ASX 200 volume charts on Thursday
• 3 ASX 200 shares defying today’s carnage to climb higher
• Zip share price dives to yet another multi-year low
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• These ASX 200 companies just lost market share to a small-cap rival

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/zP2oIid

Pendal Group Ltd (ASX: PDL) shareholders might be wondering why the share price plummeted 7.1% to $4.84 today.

Well, it’s a simple case of the fund manager’s shares going ex-dividend. This means any shares sold today did not carry with them the entitlement to the next dividend payment.

Pendal released its half-year results on 10 May, reporting growth across key financial metrics.

In turn, the board elected to ramp up its interim dividend by 23.5% to eligible investors.

Shareholders eye the Pendal interim dividend

The Pendal share price was in reverse due to the company’s shares trading ex-dividend today.

Typically, the ex-dividend date is one business day before the record date. Investors who wanted to receive the dividend needed to buy Pendal shares before the ex-dividend date.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.

When can shareholders expect to be paid?

Shareholders will receive a payment of 21 cents per share on 1 July. The dividend is partially franked at 10%, which means investors will receive some tax credits to help reduce their annual income tax liability.

While Pendal does have a dividend reinvestment plan (DRP), the board decided to keep it inactive for the interim dividend.

Management noted that the latest dividend is within the group’s annual payout ratio of 80% to 95% of underlying profit after tax.

Pendal share price summary

Since the beginning of 2022, Pendal shares have lost 16.2% on the back of weakened ASX investor sentiment. The S&P/ASX 200 Financials Index (ASX: XFJ) is down 2.6% over the same time frame.

Pendal shares reached a 52-week low of $4.04 in March before rebounding despite inflationary movements and market volatility.

Based on today’s price, Pendal commands a market capitalisation of almost $2 billion. It has a trailing dividend yield of 8%.

The post Why was the Pendal share price in freefall on Thursday? appeared first on The Motley Fool Australia.

More reading

• Why Nufarm, Pendal, Wesfarmers, and Westpac shares are sinking
• 5 things to watch on the ASX 200 on Wednesday
• Why GrainCorp, Link, NAB, and Pendal shares are sinking today
• Time is running out to secure dividends from these 3 ASX 200 shares
• Why EOS, Pendal, PolyNovo and Xero shares are charging higher

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/PBIAc0t

There are some ASX dividend shares that may be able to provide attractive cash returns for investors amid the ASX share market volatility.

While any business can fall during widespread falls, some businesses still show a gain over the last six months. These companies are also expected to pay sizeable dividends in the next few results.

With that in mind, here are two ASX dividend shares that experts currently rate as buys:

BHP Group Ltd (ASX: BHP)

While the BHP share price closed down by 1.66% at $46.23 today, it is still up by around 26% over the last six months.

Higher inflation may be a tricky thing for some sectors to deal with. However, 2022 has largely been a strong year for commodity prices, which has helped the related resource companies.

BHP is on the verge of divesting its petroleum business to Woodside Petroleum Limited (ASX: WPL). This will leave BHP with exposure to iron ore, copper, nickel, coal, and potash.

BHP thinks that decarbonisation will be helpful for copper, nickel, and potash demand over time. Indeed, the miner is looking to accelerate its potash plans amid the Russian invasion of Ukraine.

The iron ore price has drifted lower over the last few weeks amid the lockdowns in China. However, the iron price remains higher than it was in the last quarter of the 2021 calendar year.

Morgans currently rates the ASX dividend share as a buy with a price target of $54.30. That implies a possible double-digit return of the BHP share price, after a 12% decline over the last month.

Morgans’ dividend estimates imply that the grossed-up dividend yield will be 12.2% in FY22 and 9.1% in FY23.

Metcash Limited (ASX: MTS)

Metcash is a business with multiple segments.

It has a liquor segment that is a large supplier of liquor to independently owned liquor retailers in Australia. Some of the brands it supplies include Cellarbrations, The Bottle-O, IGA Liquor, Duncans, Thirsty Camel, Big Bargain, and Porters.

Metcash has a food division that supplies IGA and Foodland supermarkets.

In its hardware division are Mitre 10, Home Timber & Hardware, and Total Tools.

Despite a heavy fall of 6.54% today to $4.29, the Metcash share price is still up more than 4% in the last six months.

The ASX dividend share has been busy in May. Earlier this week, it extended the agreement to supply Drakes Supermarkets in Queensland for a further five years to June 2029.

At the start of May, it announced it had entered into an agreement with Australian United Retailers to supply its national network of supermarkets and convenience stores, including its FoodWorks bannered supermarkets, for a further five-year period, starting July 2022. Sales to FoodWorks in FY21 accounted for around $900 million of the total $9.4 billion Metcash food sales.

It’s currently rated as a buy by the broker UBS with a price target of $5. The broker is expecting Metcash to pay a grossed-up dividend yield of 6% in FY22 and 6.3% in FY23.

The post 2 ASX dividend shares rated as buys by experts amid inflation volatility appeared first on The Motley Fool Australia.

More reading

• Own BHP shares? Here’s what you need to know about the commodity predicted to be bigger than petroleum for the mining giant
• Why is the BHP share price charging 3% higher today?
• Macquarie reveals 2 sectors where bargain ASX shares still exist
• Experts name 2 ASX dividend shares to buy with big fully franked yields
• 2 ASX shares I have supreme confidence in: fund manager

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/keQE40p

Markets may be tanking but there are two ASX shares on the All Ordinaries Index (ASX: XAO) that are shooting the lights out on Thursday.

The two have surged by more than 10% each – an impressive gain on any day. But it’s particularly notable today when the broader market is losing 1.6% due to a brutal sell-off on Wall Street overnight.

All Ordinaries biotech share gets extra shot in the arm

One of the outperformers is the Imugene Limited (ASX: IMU) share price, which rallied 20.59% to 20.5 cents at the time of writing.

The biotech is still basking in the glow of yesterday’s Phase 1 clinical trial update. The first patients with advanced solid cancers have been dosed with Imugene’s CF33-hNIS (Vaxinia).

The trial is being undertaken at City of Hope, one of the largest cancer research and treatment organisations in the United States.

Preclinical tests have shown the treatment can shrink colon, lung, breast, ovarian, and pancreatic cancer tumours.

However, even with today’s big surge, the Imugene share price is still 45% underwater over the last 12-months.

Junior mining share hitching a lift from Hyundai

Meanwhile, the Arafura Resources Limited (ASX: ARU) share price has rocketed up 14.29% to 40 cents at the time of writing.

Investors are excited that the rare earths miner signed a memorandum of understanding (MoU) with Hyundai Motor Company.

The MoU clears the way for Arafura and Hyundai to negotiate an offtake agreement for the ASX miner’s NdPr Oxide sourced from its Nolans Project.

The All Ordinaries share is hoping to sell 1,000 to 1,5000 tonnes a year of NdPr oxide to Hyundai, which will use it to make natural magnets for electric vehicles.

The MoU is non-binding, which means there is nothing stopping Hyundai from walking away. But it’s always exciting for a junior ASX miner to be courted by a global customer.

The significant jump in the Arafura share price today means it is up 136% over the past 12 months.

In contrast, the All Ordinaries has only managed a gain of 2% over the same period.

The post 2 ASX All Ordinaries shares having a cracking day, despite the carnage appeared first on The Motley Fool Australia.

More reading

• Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• Arafura share price surges 18% on Hyundai deal
• Here’s why the Imugene share price just got a boost
• Battery-powered! 3 ASX mining shares up more than 50% in 2022

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/KJnlMD3

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.65% to 7,063.9 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Nufarm Ltd (ASX: NUF)

The Nufarm share price is down 7.5% to $6.14. This follows the release of the agricultural chemicals company’s half-year results. For the six months ended 31 March, Nufarm reported a 41% increase in underlying EBITDA to $330 million. This was in the middle of the company’s guidance range of $320 million to $340 million. Some investors may have been expecting Nufarm to hit the top end of its range.

Pendal Group Ltd (ASX: PDL)

The Pendal share price is down 7% to $4.84. This has been driven by the fund manager’s shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving the company’s interim 21 cents per share partially franked dividend on 1 July.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down over 7% to $46.15. Investors have been selling Wesfarmers and other retail shares after the release of very disappointing results from a couple of major retailers in the United States overnight. Target Corp saw its shares crash 25% lower on Wall Street last night after rising inflation dented customer spending.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is down 4% to $23.38. As with Pendal, the majority of this decline is attributable to the banking giant’s trading ex-dividend this morning for its interim dividend. Australia’s oldest bank will be paying its 61 cents per share fully franked interim dividend next month on 24 June.

The post Why Nufarm, Pendal, Wesfarmers, and Westpac shares are sinking appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 retail shares getting hammered on Thursday?
• Why is the Wesfarmers share price tanking 7% on Thursday?
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• Why is the Westpac share price sliding lower today?
• Nufarm share price tumbles despite huge first-half profit growth

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/J960GUk