Category: Stock Market

ASX lithium share Winsome Resources Ltd (ASX: WR1) is marching higher on Tuesday.

Again.

The lithium explorer was up more than 8% in earlier trading and remains up 4% at $2.08 per share, at the time of writing. That puts the Winsome Resources share price up an eye-popping 428% since this time last year.

Here’s what’s spurring investor interest today.

What did the ASX lithium share report?

The Winsome Resources share price is marching higher after the ASX lithium share announced another round of promising assay results from drilling at its Adina project in Quebec, Canada.

The company highlighted some of the impressive lithium mineralisation results including 1.28% lithium oxide (Li2O) over 93.5 metres from 3.0m, and 1.52% Li2O over 23.9m from 4.6m.

Amongst the exceptionally high-grade zones, one hole returned results of 4.19% Li2O over 4.1m from 73.1m.

Winsome has now received assays from six of the 32 drill holes completed to date. Results from the remaining 26 drill holes are pending. The miner said its expanded exploration program at Adina is well-funded following the capital raising earlier this month.

Commenting on the results sending the ASX lithium share higher today, managing director Chris Evans said:

These results are just as impressive as our initial assays from drill hole AD-22-005 and confirm the high-grade nature of the lithium mineralisation at the Adina Main Zone. They also give us encouragement for the numerous other intersections which are currently being logged, sampled, assayed and interpreted.

Winsome is also progressing towards a resource estimate at Adina.

“We look forward to further results delineating the high-grade zones of lithium mineralisation at Adina as well as building up the geological interpretation with the aim of starting resource estimation work later in the year,” Evans said.

Winsome Resources share price snapshot

As mentioned up top, the Winsome Resources share price, pictured below, has leapt a remarkable 428% over the past 12 months.

The ASX lithium share has continued to outperform in 2023, up 68% since the closing bell on 30 December.

The post Up 428% in a year, here’s why this ASX lithium share is gaining again on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Why is ASX lithium stock Winsome Resources on ice?

Motley Fool contributor Bernd Struben 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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When it comes to dividends, one of my favourite options in the market right now is Accent Group Ltd (ASX: AX1).

It is the footwear and fashion retailer behind a collection of popular store brands.

Among its growing stable of brands are Glue Store, HypeDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete’s Foot.

And while the retail sector is not an easy place to operate given the cost of living crisis, Accent is a bit of an exception. This is due to its focus on younger consumers which have less exposure to rising mortgage payments and more exposure to increases in the minimum wage.

In fact, Goldman Sachs estimates that its target demographic will have an additional $1 billion in spending capacity in 2023, which bodes well for Accent’s brands. It commented:

In aggregate, we believe this cohort has an additional ~A$1bn in spending capacity: the combination of minimum wage uplifts and limited inflationary pressures has resulted in an additional ~A$570-930 in annual spending capacity (per person) among the cohort of young adults who work and live at home.

But a positive outlook is nothing for income investors if the Accent dividend is on the slender side.

A growing ASX share with a big dividend yield

The good news is that the Accent dividend is expected to be on the larger side of town in FY 2023 and then grow from there.

For example, Goldman Sachs is forecasting a fully franked 12.2 cents per share dividend this year. Based on where this ASX share was trading at yesterday’s close, this equates to an almost 6% yield.

This means that if you invested $10,000 into Accent’s shares, you would generate approximately $600 in dividends over the next 12 months.

But it gets better! With Goldman Sachs forecasting sales growth of 12.5% per annum (and even stronger earnings growth) through to 2025, it is conceivable that Accent could pay a dividend of 16 cents per share in FY 2025. That would represent a yield of almost 8%, which would pay shareholders a further $800.

And if we assume average dividend growth of 5% per annum through to 2033 as the company expands its store network and grows its online business, Accent’s dividend would be nearing 24 cents per share a decade from now. This represents an 11.6% yield if bought at yesterday’s close price.

This means that if we were to add all those forecast dividends together, the total comes to almost $9,000. That would be a 90% return on your original investment in dividends alone and excludes any potential share price gains.

And while a lot can change in the space of 10 years and forecasts are not guarantees, I believe this is achievable and demonstrates why Accent could be a great ASX share to buy and hold for the next decade.

The post 6% dividend yield! An ASX share to buy in February and hold for 10 years appeared first on The Motley Fool Australia.

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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 Accent 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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The Flight Centre Travel Group Ltd (ASX: FLT) share price is once again having a rosy day so far this Tuesday. After yesterday’s pleasing and market-bucking performance, this ASX 200 travel share is once again in the green today.

At the time of writing, Flight Centre shares are up by 0.33% to $18.31 each. Perhaps investors have been buoyed by some heavy buying into the company this week.

Yesterday, we covered the emerging news that a monster trade had taken place with Flight Centre shares.

There were early indications that a massive block of 1.2 million shares had changed hands, which was worth around $22.1 million. In fact, 1.2 million shares are worth 0.7% of all the Flight Centre shares on the market, so this was a big move to see for the company.

The transaction took place at a share price of $18.45 each but for now, this is all we know.

Today, some more information has come to light about Flight Centre shares.

The company has just released some details about another dramatic transaction of Flight Centre shares. But this time, it’s a sell.

According to the release, investment bank and broker JP Morgan has sold more than two million Flight Centre shares.

This sale was reported as taking place on 9 February (last Thursday) and resulted in JP Morgan reducing its holdings from approximately 13.14 million shares down to 10.98 million shares.

That takes the broker’s voting power in the company down from 6.56% to 5.17%.

So there have certainly been some whales making some big moves when it comes to Flight Centre shares of late.

Flight Centre share price snapshot

The Flight Centre share price has had an incredibly strong start to the year. In 2023 so far, this ASX 200 travel share is now up a healthy 27.3%. Saying that though, the company still remains down by 9.6% over the past 12 months.

Factoring in the new shares issued during 2020, Flight Centre shares are also still down more than 70% from their pre-COVID highs of more than $61 each.

At the current Flight Centre share price, this ASX 200 travel share has a market capitalisation of $3.89 billion.

The post Are whales dipping in and out of this ASX 200 travel share? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares just upgraded by brokers, one with 50% upside
• Here are the top 10 ASX 200 shares today
• Someone just bought $22 million of Flight Centre shares. Here’s what we know
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Deadline coming: 3 ASX 200 shares to buy now before dividend payouts

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 recommended Flight Centre Travel 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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Those invested in CSL Limited (ASX: CSL) shares officially have another dividend coming their way, and this one’s a whopper.

The Biotechnology giant dropped its first-half earnings this morning, as The Motley Fool Australia reports.

Within them, it revealed a US$1.07 per share dividend – the largest interim dividend ever declared by the company.

The CSL share price is well and truly in the green right now, jumping 1.78% to trade at $310.43.

Here’s everything investors need to know about the S&P/ASX 200 Index (ASX: XJO) staple’s upcoming offering.

CSL bolsters interim dividend

CSL investors, rejoice! The company revealed a US$1.07 per share interim dividend this morning – a 2.9% increase on that of the prior comparable period.

It came on the back of a US$1.6 billion net profit after tax (NPAT) – an 8% year-on-year fall, driven by currency headwinds and costs related to its acquisition of Vifor Pharma.

Meanwhile, CSL posted US$7.2 billion of total revenue for the period – a 19% improvement.

The upcoming dividend represents around 32% of the company’s basic earnings per share (EPS) for the period, which came in at US$3.37 ­– marking a 12% year-on-year fall.

Investors eager for the upcoming payout might want to quell their excitement, however. CSL’s interim dividend won’t start hitting bank accounts until 5 April.

Leading up to that, the stock will trade ex-dividend on 9 March.

The official conversion rate to Australian Dollars will then be confirmed on 14 March. Right now, the company has pencilled in the payout to be worth around $1.55 Australian, according to its website.

The interim offering is unfranked, unlike CSL’s most recent final dividend.

CSL also reiterated its financial year 2023 guidance this morning. It now expects to post US$2.7 billion to US$2.8 billion of net profit after tax and amortisation.

CSL share price snapshot

Today’s gains included, the CSL share price has lifted 10% year to date. That’s compared to the ASX 200‘s 7% year to date rise.

The healthcare stock is also currently 27% higher than it was this time last year, while the index has gained 3%.

The post Everything you need to know about the boosted CSL dividend appeared first on The Motley Fool Australia.

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• CSL share price lifts on half-year earnings beat
• CSL share price on watch amid US$1.6b profit
• 5 things to watch on the ASX 200 on Tuesday
• How I’d generate a $10,000 second income from CSL shares
• 5 ASX 200 shares I would buy if I was starting from scratch: expert

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 CSL. 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 iron ore price is currently US$126 per tonne after an 0.55% gain overnight.

However, the price is 13.4% lower than this time last year, according to Trading Economics data.

In March 2022, the iron ore price reached its highest level for the year at about US$160 per tonne.

Movements in the iron ore price have a direct impact on ASX mining share prices.

So, let’s see what CBA has to say about the commodity’s value in 2023.

What’s happening with the iron ore price in 2023?

The iron ore price rallied 10% in January after China reopened its economy. This prompted increased demand for steel as the manufacturing and construction sectors recommenced normal activity.

This was a continuation of a rally that began in November when China eased its COVID restrictions and then dumped its COVID-zero policy altogether in December.

The iron ore price rose from a low of about US$80 per tonne in November to a seven-month high of $130 per tonne on 30 January.

Chinese manufacturing is rebounding and the government is stimulating construction activity through liquidity injections and new credit lines for developers.

China’s reopening has lifted many ASX mining shares, particularly the iron ore pure-play Fortescue Metals Group Limited (ASX: FMG). The Fortescue share price is up 8.3% in the year to date.

Fellow ASX iron ore shares are also up.

The BHP Group Ltd (ASX: BHP) share price is up 5.8% in the year to date. The Rio Tinto Limited (ASX: RIO) share price is up 6.2%. Junior iron ore explorer Grange Resources Limited (ASX: GRR) is up 28%.

The iron ore price has come off a bit in February, with the value now up 3.3% over the past 30 days.

What is CBA’s prediction for the iron ore price?

According to reporting in The Australian, CBA analysts expect the iron ore price to fall to US$100 per tonne over the coming months. They reckon the recent rally is unsustainable.

CBA commodity strategist Vivek Dhar said he expects Chinese steel demand to continue to accelerate in 2023 but the risk of a property market downturn remains.

Dhar said:

It is still anticipated that steel demand from China’s property construction sector will contract notably again in 2023 and the extent of contraction is expected to be steep enough to bring down China’s total steel demand by up to 2 per cent in 2023.

Weaker Chinese steel demand should weigh on China’s steel output and iron ore consumption.

Dhar also expects a modest increase in seaborne iron ore supply during 2023. This will impact the supply and demand equation and potentially reduce the iron ore price as well.

Government expects higher exports but lower earnings

As we’ve previously reported, Australia’s three biggest miners — BHP, Rio Tinto and Fortescue — are ramping up production at the new mines they’ve built in recent years.

According to the Department of Industry, Science and Resources, Australian iron ore exports are forecast to increase by 2.5% in 2022–23 to 896 million tonnes, and by 2.7% to 920 million tonnes in 2023–24.

Despite this, the government expects lower earnings due to lower iron ore prices. Earnings are expected to fall from $133 billion in 2021–22 to $113 billion in 2022–23, and then to $95 billion in 2023–24.

In 2022, 82% of Australia’s iron ore export earnings came from China.

The post Here’s the iron ore price forecast for 2023: CBA appeared first on The Motley Fool Australia.

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More reading

• Own Rio Tinto shares? Here’s what the market is expecting from its FY 2022 results
• Better buy: Fortescue vs BHP shares
• Own Fortescue shares? Here’s what the market expects from its half year results
• ASX 200 shares: How to invest $10,000 to get $910 per year in passive income
• Own BHP shares? Here’s what the market expects from its half year results

Motley Fool contributor Bronwyn Allen has positions in BHP Group, Commonwealth Bank Of Australia, and Fortescue Metals Group. 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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ASX gold share Falcon Metals Ltd (ASX: FAL) is off to the races today.

Shares in the gold miner entered a trading halt on Friday afternoon, pending an announcement relating to exploration results at its Pyramid Hill Gold Project, located in Victoria.

Falcon exited that trading halt this morning. And as we head into the lunch hour, the ASX gold share is up a whopping 28.6%, having earlier posted gains just north of 30%.

Here’s what the gold miner announced.

What did the ASX gold share report?

The Falcon Metals share price is rocketing after the ASX gold share reported on promising assay results for 57 aircore holes at the Ironbark East Prospect, within its Pyramid Hill Gold Project.

According to the release, the results included multiple gold intercepts within weathered diorite, associated with quartz veining, arsenopyrite and pyrite.

Falcon Metals also noted that one of the aircore holes delivered the highest-grade gold intercept to date at Pyramid Hill. That hole returned results of 40 metres at 2.8 grams of gold per tonne from 50 metres, which included several one-metre intercepts above 10g/t Au.

Commenting on the results sending the ASX gold share surging today, managing director Tim Markwell said:

Intersecting high-grade mineralisation at Ironbark East over a 400 metres strike length is a great result and provides us with encouragement ahead of the commencement of our diamond drilling program later this month.

Following on the strong results, the explorer plans to kick off a diamond drill program at the site later this month.

“The results at Ironbark confirm the potential of diorite to host economic zones of mineralisation, especially with the intersection of a new zone at Ironbark Central announced earlier this month,” Markwell said.

“Our success to date gives us the confidence to further ramp up our activity at Pyramid Hill.”

Aircore drilling is continuing at Ironbark East, with two rigs testing the strike extent of the mineralised trend.

Falcon Metals share price snapshot

The Falcon Metals share price declined for much of the past 12 months.

As you can see below, with today’s big leap factored in, the ASX gold share is now trading right about where it commenced 2023.

The post Guess which ASX gold share just surged 30% on a new discovery appeared first on The Motley Fool Australia.

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More reading

• Here’s the iron ore price forecast for 2023: CBA
• 3 ASX All Ordinaries shares rocketing over 5% on strong earnings updates
• Own Rio Tinto shares? Here’s what the market is expecting from its FY 2022 results
• Appen shares dive again. Are they cheap enough to buy?
• Breville share price tumbles 4% as revenue growth slows

Motley Fool contributor Bernd Struben 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 All Ordinaries Index (ASX: XAO) is back in the green today, helped along by these three shares. They’re each leaping as high as 13% on news of their first-half performances.

Right now, the All Ordinaries is up 0.35%, trading at just over 7,640 points.

Let’s take a look at the stocks roaring higher on the back of earnings updates.

3 ASX All Ordinaries shares soaring on earnings updates

First up is All Ordinaries share Sims Ltd (ASX: SGM). It rocketed nearly 9% to trade at $15.95 earlier today despite the metal recycling company revealing tumbling profits.

However, reports UBS has upped its price target for Sims stock to $16 might also be bolstering it on Tuesday.

The company’s underlying post-tax profit for the first half came in at $53 million. That marks an 80.3% fall on that of the prior comparable period (pcp).

Its sales revenue also dropped 10% to $3.8 billion. Meanwhile, its interim dividend was slashed by 66% to 14 cents per share.

CEO and managing director Alistair Field said the downturn was driven by lower steel prices and weakening customer demand, while high fuel prices and decelerating economic activity saw scrap volumes slump.

Meanwhile, investors in All Ordinaries fleet management solutions company SG Fleet Group Ltd (ASX: SGF) will likely be happy with the news driving its share price higher. The stock leapt to a high of $2.36 earlier today, representing a 13% gain.

The company posted a $41.9 million post-tax profit for the first half – marking a 41% year-on-year improvement.

It also declared an 8.91 cents per share interim dividend – a 7.1% increase on last year’s.

All that was despite continuous supply chain difficulties, which will likely push benefits forward to be realised in coming periods.

Finally, All Ordinaries retailer KMD Brands Ltd (ASX: KMD) technically didn’t release earnings today. However, its share price is soaring on an update on its first-half trading, peaking at $1.03 – a 6% gain.

The company is behind brands Kathmandu, Rip Curl, and Oboz.

It announced record first-half sales of around $546 million today – a 34% increase on that of the pcp.

Its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for the half year is expected to come in at $45 million.

The company will post its audited results on 22 March.

The post 3 ASX All Ordinaries shares rocketing over 5% on strong earnings updates appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares just upgraded by brokers, one with 50% upside

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.

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The Breville Group Ltd (ASX: BRG) share price is tumbling on Tuesday after the company dropped its earnings for the first half.

Shares in the S&P/ASX 200 Index (ASX: XJO) appliance developer are currently down 3.78%, trading at $20.88.

Breville share price plummets as debt grows in the first half

• $888 million of revenue – a 1.1% increase on that of the prior comparable period (pcp)
• Gross profit climbed 3.8% to $311.3 million at a 35.1% margin
• Earnings before interest and tax (EBIT) of $121.1 million – a 7.6% improvement
• 15 cents per share interim dividend declared – flat on that of the prior year
• Ended the period with a $212.2 million debt position – down from a $31.7 million net cash position

Breville posted record sales last half, growing its revenue by 1.1%, but that’s nothing compared to the growth the market is accustomed to seeing from the small appliance icon. The last three financial years have seen its revenue grow between 19% and 25% annually.

The company’s debt levels also soared last half as it bolstered inventory and forked out $84 million to acquire LELIT Group. It currently holds excess inventory as a hedge against supply chain disruptions but plans to transition to a normal inventory flow model in the second half.

Finally, it highlighted headwinds from shipping and freight costs, as well as a strong US Dollar. Fortunately, those were offset by price rises in its premium global segment, a slight benefit in the mix, and a normalising promotional cadence.

What else happened in the first half?

Revenue in Breville’s global product segment grew 5% to $770.7 million last half. That was despite revenue from Europe, the Middle East, and Africa (EMEA) tumbling 22% to $156.6 million, reflecting retailer destocking.

On the other hand, revenue in its distribution segment fell as the business struggled to recover cost increases. Much of that was due to the Nespresso product line, which faced supply disruptions.

The company said its new product development launches were well received last half, while its investment in its digital platform “paid dividends” as direct-to-consumer sales grew more than 66%.

What did management say?

Breville CEO Jim Clayton commented on “a solid half of performance” wherein the company delivered growth despite “a challenging and dynamic backdrop”, saying:

The strength of our product portfolio, coupled with the maturity and agility of our underlying acceleration platform, cut through the macro-economic headwinds of the [first half].

We grew gross profit by tacking into our areas of strength: we managed price to counter material input and logistics cost inflation as well as negative currency swings; we leaned on our geographic diversification to deflect the impact of EMEA retailers buying much less than they were selling; we aligned our supply chain and go-to-market to take advantage of the trending tailwinds of “air frying” and “café quality coffee at home”; we executed a much improved new product launch process that accelerated revenue; and, we captured the benefit from the investments we’ve made in our digital execution and geographic expansion.

What’s next?

Breville expects the future to bring a more benign inflationary environment for its products, which should support gross margins. It’s also aiming to reduce its debt position amid its inventory transition.

It forecasts its full-year EBIT to come in at between $165 million and $172 million – representing 5% to 10% of potential annual growth.

For comparison, the company’s EBIT grew 15% year-on-year in financial year 2022 and 40% year-on-year in finanical year 2021.

Breville share price snapshot

Despite today’s tumble, the Breville share price has outperformed so far this year.

The stock has risen 13% year to date while the ASX 200 has lifted just 7%.

Over the last 12 months, however, Breville shares have dumped 24% while the index has risen 3%.

The post Breville share price tumbles 4% as revenue growth slows appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Buy and hold these ASX 200 shares: experts
• 10 ASX stocks to buy before they report this earnings season: Goldman
• A new bull market is coming: 3 ASX shares I’d load up on before it gets here
• Goldman reveals the ASX shares that could surprise to the upside (and downside) this reporting season

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.

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The Challenger Ltd (ASX: CGF) share price soared by 7% in early trading after the investment management company released its FY23 half-year results.

The Challenger share price opened at $7.45 and quickly rose to a high of $7.77, up 7% on yesterday’s close. It is now trading at $7.63, up 5.1%.

Challenger share price rockets as dividend is raised

Here are the highlights for the six months ending 31 December 2022:

• Normalised net profit before tax (NPBT) of $250 million, up 5% on the prior corresponding period (pcp) of 1H22
• Normalised net profit after tax (NPAT) of $167 million, down 1% pcp
• Statutory NPAT of $123 million, down 56% due to largely unrealised investment market movements
• Total assets under management of $99.4 billion, down 14% pcp (reflecting the sale of Whitehelm Capital in 2H FY22 and the market sell-off in 2022)
• Interim dividend 12 cents per share fully franked, up 4% pcp.

What else happened in 1H FY23?

The company reported a record half-year for its retirement income business, Challenger Life, with $5.5 billion in sales, up 11% pcp.

This was driven by record annuity sales growth of 41%, with particularly strong retail growth of 89%.

The life book grew in value by $1 billion, reflecting 5.5% book growth in 1H FY23.

In its statement, the company said the life business is “benefitting from a more favourable macroeconomic environment, with higher interest rates helping to accelerate annuity sales and expand margins”.

In October, Challenger announced the $36 million sale of Challenger Bank to Heartland Group
Holdings Ltd (ASX: HGH). Pleased investors pushed the Challenger share price 4.6% higher on the day.

The bank is well-capitalised and Challenger expects about $100 million to be returned upon completion.

What did management say?

Managing director and CEO, Nick Hamilton said:

Our strong performance over the half year again demonstrates the resilience we have embedded
through our diversified business model, enabling us to capture opportunities in all market
conditions.

We have positioned the business to benefit from rising interest rates, which have stimulated strong demand for retail annuities, particularly longer dated products.

What’s next?

Challenger expects profit growth to continue and reaffirmed its FY23 full-year guidance. It’s expecting normalised NPBT of between $485 million and $535 million.

Challenger share price snapshot

The Challenger share price is up 22% over the past 12 months.

This compares to a 3% bump for the S&P/ASX 200 Index (ASX: XJO).

The post Challenger share price screams 7% higher on half-year results appeared first on The Motley Fool Australia.

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More reading

• Why I think the Challenger share price could be a top performer in 2023
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Motley Fool contributor Bronwyn Allen 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 Challenger. 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 Westpac Banking Corp (ASX: WBC) share price is pushing higher on Tuesday.

In morning trade, the banking giant’s shares were up as much as 1.5% to $24.10.

Why is the Westpac share price rising?

The Westpac share price is lifting on Tuesday largely due to solid gains across the banking sector.

In addition, the company has made an announcement that could be giving Australia’s oldest bank’s shares an extra boost.

According to the release, Westpac is looking to disrupt the buy now pay later (BNPL) market with a new offering that allows credit card holders to pay in four instalments.

In the coming months, Westpac credit card customers will be able to link their existing credit card to a new PartPay digital card that allows them to split their purchases into an initial instalment, with a further three fortnightly instalments to follow.

Westpac’s Consumer and Business Banking chief executive, Chris de Bruin, revealed that the new feature is about giving its customers more control. He explained:

We want to give our customers greater flexibility by providing different payment options to suit their changing circumstances. We know our customers want more choice when it comes to their finances and this new feature will put them in the driver’s seat.

The payment landscape has changed and customers have told us they like the option of making payments in instalments. This new feature provides that flexibility in a fast and convenient way, via a digital card that can be downloaded in the Westpac app.

PartPay complements Westpac’s existing offers for customers including our partnership with ShopBack to reward customers with bonus cashback when they make purchases using their Westpac debit and credit card

Is it the same as BNPL?

The new PartPay offering is similar to what other BNPL providers such as Zip Co Ltd (ASX: ZIP) and Afterpay offer but with a few subtle differences.

Purchases must be $100 or more, no interest or fees are charged to use PartPay, and no late payment fees will be charged for missing an instalment.

However, if a customer misses a payment, the instalment will then be transferred to their Westpac credit card balance and standard interest rates will then apply.

The post Westpac share price higher amid latest BNPL moves appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Westpac Banking. 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 Westpac Banking. 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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