It turned out to be a pretty decent day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) on Monday. By market close, the ASX 200 had picked up a healthy 0.59%, putting the index at just over 7,150 points. But it was a different story for the AMP Ltd (ASX: AMP) share price.

AMP shares had a shocker today. In direct defiance of the broader market’s good mood, the AMP share price lost a nasty 4.17%, leaving the financial services company at $1.27 a share.

So why were investors singling out AMP for some punishment today?

Well, it probably had something to do with the announcement the company put out this morning before market open.

AMP share price hits a snag over Collimate sale

This announcement is related to the deal AMP has inked with Dexus Property Group (ASX: DXS) for the sale of its Collimate Capital funds management business. The original deal was subject to a number of conditions being fulfilled by 27 January, one being the approval of regulators in China.

This is proving to be a sticking point, with AMP admitting that “there is uncertainty around achieving this date”.

As such, “AMP and Dexus have agreed to extend the date for satisfaction or waiver of conditions precedent to 28 February 2023″.

However, both parties have also agreed upon the following:

If the conditions precedent are not satisfied or waived by 26 January 2023, the base purchase price will be reduced by A$25 million to A$225 million, and the remaining potential funds under management (FUM) based earnout (currently A$26 million) will be forfeited.

So this is probably what weighed on the AMP share price today. It’s certainly not the news shareholders were probably hoping to hear when they woke up this morning. We’ll have to see what the rest of the week (and month) hold in store for AMP shares.

AMP had a cracking year in 2022, rising by 30.7%. But it remains a long way from its turn-of-the-century glory days when it was fetching upwards of $13 a share.

The post Why did the AMP share price crumble 4% on Monday? appeared first on The Motley Fool Australia.

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More reading

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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.

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The S&P/ASX 200 Index (ASX: XJO) traded in the green on Monday, closing 0.59% higher at 7,151.3 points.

It followed a strong Friday session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) closed last week with a 2.1% gain, the S&P 500 Index (SP: .INX) lifted 2.3%, while the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) rose 2.6%.

Interestingly, however, the S&P/ASX 200 Information Technology Index (ASX: XIJ) dragged on the Aussie bourse today. It fell 0.6% amid a 5.5% tumble posted by the Computershare Limited (ASX: CPU) share price.

On the other hand, the S&P/ASX 200 Energy Index (ASX: XEJ) posted a 1.4% gain, while the S&P/ASX 200 Materials Index (ASX: XMJ) lifted 1%.

All in all, nine of the ASX 200’s 11 sectors closed higher on Monday. But which stock posted the biggest gain? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 share was Paladin Energy Ltd (ASX: PDN).

Stock in the uranium explorer and producer gained 9.9% today to close at 74.8 cents despite the company’s silence.

These shares made today’s biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
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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 positions in and has recommended Block and Megaport. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Commonwealth Bank of Australia (ASX: CBA) shares have always been a popular choice for ASX investors seeking dividend income. No doubt this trend will continue in 2023. But should it?

Since we are at the start of the year, it might be a good chance to examine some ASX articles of faith such as these and see if they still hold true. So let’s check out what might be in store for CBA’s dividend this year and beyond.

So let’s start at the beginning. Last year, Commonwealth Bank shares paid out two dividends. The first was the interim dividend of $1.75 per share that investors received in March. The second was the final dividend of $2.10 per share that was doled out in September.

Both dividends, as is typical with CBA, came fully franked.

Commonwealth Bank shares were trading at $103.47 each, up 0.31% at the market close today. At this pricing, those two dividend payments give the CBA share price a trailing dividend yield of 3.72%. That grosses up to 5.31% with the full franking.

So that’s where we’re starting out at. If an investor picks up CBA shares at this price today, and the bank manages to pay out exactly the same dividends in 2023 as it did in 2022, then investors can expect to receive a yield of 3.72% on their capital.

That’s decent, but arguably nothing spectacular. Many savings accounts and term deposits offer better yields in this era of rising interest rates.

But what if CBA juices up its dividends this year? Well, if that happened, investors would enjoy an even greater yield on cost.

ASX broker tips higher dividends from CBA shares

ASX broker Morgans reckons CBA will indeed be in a position to give income investors a dividend pay rise. As my Fool colleague covered late last month, the broker expects CBA shares to pay out a total of $4.10 in dividend income per share in FY2023.

Even better for investors, Morgans reckons CBA will up its game again in FY2024, with total dividends per share of $4.55.

If these scenarios were to be realised, these dividends would give CBA shares a forward yield of 3.96% and 4.4%, respectively, on the current CBA share price.

So if these numbers turn out to be accurate, CBA could indeed be a solid buy for ASX dividend income in 2023. But we shall have to wait and see what CBA pulls out of its dividend hat.

The post Are CBA shares worth buying for dividend income in 2023? appeared first on The Motley Fool Australia.

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More reading

• How different is the Vanguard Australian Shares Index ETF (VAS) now compared to a year ago?
• Will 2023 get better for ASX 200 shares?
• ASX 200 shares to rise by up to 7% in 2023: CBA
• ASX financial shares lifted the ASX 200 today
• Here’s how I plan to recession-proof my ASX share portfolio this year

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.

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While the market volatility has been disappointing for investors over the last 12 months, it has potentially created some great buying opportunities for investors.

Two ASX shares that have fallen heavily and could be worth considering are listed below. Here’s what experts are saying about them:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first beaten down ASX share to look at is Domino’s. This pizza chain operator’s shares have lost 40% of their value over the last 12 months.

This has been driven by concerns over the impact of inflationary pressures on both consumers and its margins.

The team at Morgans appears to believe that this is a temporary issue and remains very positive on the long term. Particularly given the company’s bold expansion plans. In light of this, the broker has put an add rating and $90.00 price target on its shares.

Morgans commented:

Cost inflation and adverse FX movements present significant challenges to earnings at present, as evidenced by EBIT margins, which fell from 13.4% in FY21 to 11.5% in FY22. […] We believe these pressures are transitory in nature. In our opinion, now is the best time to consider an investment in a quality business like DMP that is facing headwinds that will reverse in time.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price has been hammered over the last 12 months and has lost over half of its value. This has been driven by a de-rating of tech shares amid rising interest rates and global economic growth concerns.

Goldman Sachs appears to believe this has left the online furniture and homewares retailer’s shares trading at a very attractive level. In fact, it has put a buy rating and $7.50 price target on the company’s shares, which implies over 50% upside.

Thanks to the shift online and its strong market position, Goldman is expecting Temple & Webster to grow its EBITDA at a rapid rate over the next decade. It commented:

We view TPW as one of the strongest long term structural growth opportunities in our coverage and forecast a +22% EBITDA CAGR over the next 10 years. Despite the pull forward in online penetration, TPW still only has c.3.5% population penetration and c.2% share of the total category which provides a long term runway for growth. We believe the market is underestimating the long term potential of this business given near term macro headwinds across the category.

The post These beaten down ASX shares are cheap buys: experts appeared first on The Motley Fool Australia.

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More reading

• 3 ASX growth shares to buy with huge upside potential – analysts
• 2 excellent ASX growth shares that analysts say are buys in January
• 3 of the best ASX shares I’d buy now for a stock market rally in 2023
• Here’s how I’ll be investing my money in ASX shares in 2023
• 23 ASX shares to buy in 2023 – brokers

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Domino’s Pizza Enterprises and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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