Category: Stock Market

The Novonix Ltd (ASX: NVX) share price is tumbling lower today despite no news having been released by the battery materials and technology company.

It’s in the red alongside many of its tech and battery metals peers today after surging nearly 11% on Thursday.

The Novonix share price is currently trading at $3.09, 5.5% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slumped 0.5% so far today.

Let’s take a closer look at what’s going on with the ASX 200 tech stock and its peers on Friday.

What’s weighing on the Novonix share price today?

The Novonix share price is plummeting on Friday, making it the worst performer in its sector.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently down 1.2%.

Alongside Novonix, the sector is being weighed down by shares in Megaport Ltd (ASX: MP1), Block Inc (ASX: SQ2), and Altium Limited (ASX: ALU). They’ve fallen 4%, 4%, and 3% respectively right now.

On top of that, some ASX 200 battery materials shares are also underperforming today.

Some lithium stocks, including Lake Resources N.L. (ASX: LKE), Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR), have broken a multi-session green streak to weigh on the market.

Today’s fall included, the Novonix share price is 71% lower than it was at the start of 2022 and 25% lower than it was this time last year.

Meanwhile, the ASX 200 has fallen 7% year-to-date. It is also down 7% over the last 12 months.

The post Novonix share price tumbles 6% on Friday. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price leaping 11% on Thursday?
• Why is the Novonix share price having such a lousy start to the week?
• These 3 ASX tech shares had a cracking day on the ASX today
• Here are the top 10 ASX 200 shares today

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 Altium, Block, Inc., and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO. 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 Magnis Energy Technologies Ltd (ASX: MNS) share price is soaring today on lithium battery production news.

Shares in the ASX lithium company have leapt 35.6% and are now trading at 49.5 cents. In comparison, the S&P/ASX 200 Materials (ASX: XMJ) is down 0.54% at the time of writing.

Let’s take a look at what Magnis Energy reported today.

Lithium news

Magnis announced commercial production has started at the Imperium3 New York lithium-ion battery manufacturing plant (iM3NY) in New York.

Magnis and joint venture partner Charge CCCV LLC (C4V) are the major shareholders in iM3NY, a New York-based independent lithium-ion cell manufacturer.

The plan is to produce several thousand lithium-ion cells in the next month for quality assurance. By the end of 2023, annual production levels are expected to jump to 1GWh.

This will climb to 15,000 cells per day when the plant hits a capacity of 1.8GWh.

The factory floor is about 22,000 sqm — equivalent to more than the size of three soccer fields.

Management commentary

Magnis chair Frank Poullas welcomed the news, saying:

After many years of hard work by everyone involved, today represents a momentous
occasion for Magnis, its partner C4V and the wider iM3NY team.

With previously announced binding sales agreements, I look forward to updating the market as we move towards generating revenues and increasing the capacity of the plant to meet some of the huge demand currently experienced for lithium-ion batteries especially in the United States.

iM3NY CEO Chaitanya Sharma added:

The iM3NY team has put in a huge effort to achieve this major milestone of commercial
production with iM3NY being North America’s only pure home-grown battery plant.

Magnis share price snapshot

The Magnis share price is down 14% year to date, although it has climbed 23.7% in the past 12 months.

Magnis shares have surged more than 65% in the past month.

Based on the current share price, Magnis has a market capitalisation of around $475 million.

The post Magnis share price rockets 36% on New York lithium battery plan appeared first on The Motley Fool Australia.

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More reading

• Woolworths share price slides following MyDeal ACCC nod
• ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year
• Guess which ASX 300 share Fortescue’s Twiggy just loaded up on
• Obscure ASX mining share surges 29% following OZ Minerals copper deal update
• Lake Resources share price finally slumps after jumping 72% this week

Motley Fool contributor Monica O’Shea 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 Woolworths Group Ltd (ASX: WOW) share price is slipping today amid an announcement that its proposed acquisition of online retailer MyDeal.Com.Au Ltd (ASX: MYD) is unopposed by Australian market regulators.

At the time of writing, Woolworths shares are swapping hands for $37.90 apiece, down 0.32% on Thursday’s closing price.

In contrast, the MyDeal share price is currently up 0.97% to $1.045.

For comparison, the S&P/ASX 200 Consumer Staples (ASX: XSJ) index is down 0.2%. The S&P/ASX 200 Index (ASX: XJO) is doing slightly worse, recording a 0.59% loss.

Let’s take a look at what the Australian Competition & Consumer Commission (ACCC) announced today.

ACCC gives green light to acquisition 

In a decision released this morning, ACCC Commissioner Lisa Carver said:

Following our review and feedback from market participants, we do not consider that Everyday Market from Woolworths is a significant competitor to MyDeal or other online marketplaces and consequently, this acquisition is unlikely to substantially lessen competition.

Furthermore, the ACCC found that it was “unlikely” that the merger between Woolworths retail and MyDeal’s online presences could lead to anti-competitive practices in the future.

“Woolworths would continue to face significant competition from online marketplace platforms available to third-party sellers,” Ms Carver added. 

My Foolish colleague Brooke Cooper reported in May that the supermarket offered to acquire MyDeal for $1.05 per share, or a 62.8% premium on the company’s closing share price.

Once the deal closes, Woolworths will own 80.2% of the online retailer, with 19.8% held personally by upper management. Woolworths CEO Sean Senvertne will hold a vast majority of this amount with a stake of 18.9%.

Woolworths confirmed the acquisition would be subject to approval from MyDeal shareholders at a scheme of arrangement meeting scheduled for 6 September and court approval.

Woolworths share price snapshot

The Woolworths share price is down 7% over the past year and 0.8% this year to date. However, it has gained 3.5% over the past month.

Woolworths has a market capitalisation of $46.15 billion. 

The post Woolworths share price slides following MyDeal ACCC nod appeared first on The Motley Fool Australia.

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More reading

• Top ASX dividend shares to buy in August 2022
• ASX 200 better buy: Wesfarmers or Woolworths?
• Guess how much Woolworths shares have paid in dividends over the last 5 years
• 3 reasons this broker says Woolworths shares are a strong buy
• The Woolworths share price leapt 5% in July, what’s in store now?

Motley Fool contributor Matthew Farley 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 Stanmore Resources Ltd (ASX: SMR) share price is in the green on Friday following the release of its half yearly results for the period ending 30 June 2022.

At the time of writing, Stanmore is trading 6% higher at $2.14 apiece, a shade from its intraday high of $2.26 per share.

Stanmore share price lifts on strong half-year

Key takeouts include:

• Fully consolidated underlying EBITDA of US$726 million
• Operating cash flow generated of US$563 million
• Acquisition of 80% interest in BHP Mitsui Coal Pty Ltd (BMC) completed on May 3 2022
• Consolidated half year Run Of Mine (ROM) production of 3.9 million tonnes (Mt) and saleable production of 2.8Mt
• Net debt of US$258 million with cash position of US$546 million at end of half year

What else happened last half for Stanmore?

The company saw benefits from the acquisition of the South Walker Creek and Poitrel mines. Sales
volumes increased by 2.09 million tonnes compared to the corresponding period.

The volume increase coincided with an increase in average realised coal sales price to US$377/tonne. As a result, it recorded an all-time high EBITDA of US$726 million.

Adverse weather events impacted operations in relation to haulage and coal mining, yet, the company still achieved its production targets.

It also drew down the full amount of its US$795 million debt facility and completed a US$506 million equity raise to acquire the assets of BHP Mitsui Coal Pty Ltd (BMC).

Management commentary

Speaking on the results, Marcelo Matos, Chief Executive Officer and Director of Stanmore said:

This has truly been an exciting period for Stanmore. We completed the acquisition of the South Walker Creek and Poitrel mines and welcomed their employees and contractors into the Stanmore family, completed the transition of the dragline to Isaac Downs which coincided with commencement of a new mining services operator and commenced operating our CHPP at Isaac Plains.

Stanmore share price snapshot

In the past 12 months, the Stanmore share price has jumped more than 211% into the green, or more than 125% this year to date.

The post ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

Motley Fool contributor Zach Bristow 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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Those looking at what “smart money” investors are buying for clues on where bargains might lie may be interested in this S&P/ASX 300 Index (ASX: XKO) share.

Andrew “Twiggy” Forrest from Fortescue Metals Group Limited (ASX: FMG) just pumped in another $13 million plus into the Austal Ltd (ASX: ASB).

He did this through his investment vehicle Tattarang Ventures, which now owns 15.4% of the shipbuilder. This is up from its previous holding of 13.8%.

The ASX 300 share that’s in the money for Twiggy

Tattarang started its latest on-market purchase on 18 June and it seems to have picked a good time to make the purchase.

The average price Twiggy paid in the latest round is circa $2.29. The Austal share price is currently trading down 0.74% at $2.68.

Meanwhile, the ASX 300 benchmark is shedding 0.57% of its value.

Timing is everything, or is it?

Perhaps Twiggy’s growing stake in the Austal share price is bolstering investor confidence during these volatile times. Austal hasn’t issued any market-sensitive news recently and Twiggy’s increased investment comes ahead of the company’s full year results.

You would think that one would wait for a company to hand in its earnings report card before committing many more millions to the investment.

But Tattarang tend to be long-term shareholders and Austal is facing several medium to longer-term tailwinds.

Rising tide lifts this ASX 300 share

Not least is the increase global defence spending due to rising geopolitical tensions in Europe and in our neck of the woods. There’s no need to mention names here.

While concerns about Austal’s sales pipeline had sunk the ASX 300 share to the depth of $1.80 on June 30 this year, management has managed to win back investors.

It announced last month that the US Navy awarded it a US$156.2 million ($225.5 million) contract to build two Navajo-class Towing, Salvage, and Rescue Ships.

Significantly, these are steel hull ships. There were concerns that Austal might miss out on more US Navy contracts if the customer looked to build more of such ships. Austal’s legacy has arguably been in the construction of lighter aluminium hulled vessels.

Further, Austal also announced in July this year that it was awarded a contract that could be worth as much as US$3.3 billion. This time, the contract is for the design and construction of up to 11 Offshore Patrol Cutters for the United States Coast Guard.

Other ASX shares that Twiggy has been buying

Maybe these developments were enough to convince Twiggy to up his investment in the ASX 300 share.

After all, Tattarang is no stranger to investing in ASX shares. It also has substantial holdings in the likes of Bega Cheese Ltd (ASX: BGA) and Swoop Holdings Ltd (ASX: SWP), among others.

The post Guess which ASX 300 share Fortescue’s Twiggy just loaded up on appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX All Ordinaries shares hit new 52-week highs on Monday
• These were the best performing ASX 200 shares in July
• 2 ASX 300 shares rocking new 52-week highs on Monday

Motley Fool contributor Brendon Lau has positions in Austal Limited and Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Austal Limited. 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 Havilah Resources Ltd (ASX: HAV) share price has jumped out of the gate on Friday.

At the time of writing, the ASX mining share is trading 28.57% higher at 36 cents following a company announcement this morning.

The gains bring its total return to more than 100% over the past three months.

While the announcement itself isn’t price sensitive, its contents in some ways are, seeing as it relates to the potential disposal of a key asset.

In broad market moves, S&P/ASX 300 Metals and Mining Index (ASX: XMM) is currently down 0.25%.

What’s up with this ASX mining share?

Pending the final transaction of its deal with OZ Minerals Limited (ASX: OZL), Havilah advised today that it will hold a general meeting for shareholders on 31 August.

Recall that Havilah and OZ announced back in May the pair had signed a term sheet granting the latter an option to buy the Kalkaroo copper-gold-cobalt project.

The duo then signed definitive agreements on 26 July. However, there’s one final step left in the process and that’s to seek approval from the company’s shareholders.

Havilah’s board supports the proposed transaction as it believes the $205 million offer “produces a significantly better financial outcome and lower risk alternative” than if it were to mine the Kalkaroo deposit itself.

In today’s release, it said:

The contingent consideration, of up to $200 million, [also] provides Havilah with exposure to future Kalkaroo Project upside in the event of mineral resource upgrades and/or copper prices above US$10,000 per tonne.

The Strategic Alliance is a potential catalyst for development of a major new copper mining region in the northeast of South Australia on Havilah’s extensive tenement holdings in the Curnamona Province.

The market has certainly voted in favour of the announcement today and shares have spiked on a volume approximately seven times that of the four-week average.

In the past 12 months, the Havilah share price has gained around 69%.

The post Obscure ASX mining share surges 29% following OZ Minerals copper deal update appeared first on The Motley Fool Australia.

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More reading

• What’s so good about copper anyway?
• How are ASX copper shares performing after Monday’s surge?
• What could another acquisition mean for BHP shares?
• OZ Minerals ‘completely in play’: Broker on BHP takeover bid
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Zach Bristow 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 Lake Resources NL (ASX: LKE) share price astounded many market watchers after it rocketed 72% over the first four sessions of this week.

But the lithium stock’s green streak appears to have ended on Friday, as the company trades in the red for the first time since 3 August.

At the time of writing, the Lake Resources share price is $1.48, 7.4% lower than its previous close. However, that still sees it 60% higher than it was at the final close of last week.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is also in the red today, falling 0.4% to trade 0.1% higher than it closed last week. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.04% today and has lifted 2.3% in the last five sessions.

Let’s take a closer look at what’s been going on with ASX 200 lithium share Lake Resources lately.

What was driving the Lake Resources share price this week?

This week brought a resurgence for the Lake Resources share price after a disastrous few months on the market.

The stock was caught up in June’s major lithium sell-off. It tumbled 49% that month.

Then, in July, it was hit by a short seller attack. That saw its share price fall a further 10% following a trading halt.

Following this week’s surge, the Lake Resources share price is now roughly flat with the levels it was trading at in May.

It’s also worth noting the company hasn’t been alone in the green through most of this week.

Fellow ASX 200 lithium shares Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR) have both lifted around 15% since last Friday’s close.

Their gains came amid news China saw record electric vehicle (EV) sales in June – with 571,000 EVs driving away in the nation – while the United States moved to provide greater incentives for EV manufacturers.

That likely points to higher demand for EVs in the future and, as a result, higher demand (and potentially higher prices) for lithium.

Of course, signs pointing to higher lithium prices often spell good news for ASX lithium shares like Lake Resources.

The post Lake Resources share price finally slumps after jumping 72% this week appeared first on The Motley Fool Australia.

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More reading

• New records and looming deficits. Why ASX lithium stocks are in the spotlight
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Block, Lake, Mirvac, and QBE shares are racing higher
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?

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 Insurance Australia Group Ltd (ASX: IAG) share price is lifting in early trade after it reported FY22 earnings today.

The ASX finance share darted higher from the open and nudged an intraday high of $4.72 – its highest mark in three months — before levelling off.

Returns for the past 12 months are seen below.

What’s got the IAG share price lifting?

IAG came in with mixed results, printing a 5.7% gain in gross written premium to $13.3 billion.

Net insurance profit narrowed by around 42% to $586 million, and its underlying insurance margin also contracted by about 14.5%.

But its net profit after tax (NPAT) stretched up to $347 million from a $427 million loss in FY21.

This, on earnings per share (EPS) of 13.33 cents. It now forecasts an insurance margin of 16% at the upper end of guidance and return on equity (ROE) of 12-13%.

Despite this, the IAG share price has caught a bid from the open and is now up 130 basis points to $4.67 in morning trading.

Volume was thin to start the session, with approximately 865,000 shares swapping hands at the time of writing, off a 4-week average of 6.6 million.

The question now becomes if IAG can sustain this rally. It first started on 17 June, when shares reversed off a low of $4.14.

Broker opinion is mixed on the matter, with seven out of 11 analysts covering the share still rating it a buy, according to Refinitiv Eikon data.

However, there are two hold and two sell ratings from the same list, and the consensus price target is $4.99 per share, just a small fraction of upside.

In the last 12 months, the IAG share price has dropped 14%, but is up around 10% this year to date.

The post IAG share price lifts despite mixed FY22 earnings results appeared first on The Motley Fool Australia.

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More reading

• IAG share price on watch as company reports $347 million in earnings
• 5 things to watch on the ASX 200 on Friday
• IAG share price seesaws amid class action news
• Looking for value: The ASX shares this fundie is holding amid rising inflation
• Is the IAG share price a buy following the insurer’s latest update?

Motley Fool contributor Zach Bristow 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 positions in and has recommended Insurance Australia Group Limited. 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 lithium stocks just put in a great month.

Looking at some of the top lithium shares, here are how the share prices have moved since the opening bell on 12 July (as of yesterday’s closing price), using the All Ordinaries Index (ASX: XAO) as our benchmark.

• All Ordinaries up 7.9%
• Core Lithium Ltd (ASX: CXO) shares up 76.2%
• Allkem Ltd (ASX: AKE) shares up 30.8%
• Lake Resources NL (ASX: LKE) share price up 161.5%

See what we mean.

And these are all multibillion-dollar companies, mind you.

ASX lithium stocks have been soaring again, following a brief retrace from May into mid-June, as investors mull over the supply and demand dynamics for the lightweight, highly conductive metal.

Demand for lithium is booming alongside rocketing growth in electric vehicle (EV) production. Lithium is a critical element in both EV and grid storage batteries.

With demand outstripping supply over the past year, lithium prices have rocketed more than 400% over 12 months, providing some gale-force tailwinds for ASX lithium stocks.

Clearly, the lithium price has a material impact on the share prices of the miners that produce it.

The question facing ASX investors now is, how are the supply and demand dynamics shaping up for the coming years?

Will there be a glut in lithium supply?

For some insight into that question, we turn to the analysts at S&P Global Market Intelligence.

In 2022, S&P Global forecasts that demand for lithium will continue to outpace supply growth, a scenario that should continue to support ASX lithium stocks.

“The magnitude of the deficit depends on producers’ ability to execute projects, according to their existing plans,” the analysts said.

“Lithium raw material supply is likely to improve especially from the September quarter onward, when the bulk of this year’s new additions is scheduled to reach the market.”

Looking further ahead, S&P Global forecasts:

The visible lithium supply pipeline could be sufficient to meet demand in 2023. The lithium market is likely to return to a deficit from 2024, which is forecast to deepen over 2024-26, as demand growth once again outpaces that of supply.

ASX lithium stocks eyeing new Chinese record

June saw a record number of EVs sold in China — a record ASX lithium stockholders may wish to note.

The world’s second-biggest economy and most populous nation recorded 571,000 EV sales in June, according to the China Passenger Car Association (CPCA). That’s a massive 141% increase from the number sold in June 2021.

As for the full year, the CPCA expects to see total Chinese EV sales increase 84% in 2022, reaching 5.5 million vehicles.

While China is a major lithium producer, Australia leads the globe, producing almost half the world’s total output in 2020.

With EV sales going hyperbolic in China, ASX lithium stocks could enjoy some sustained demand growth.

The post New records and looming deficits. Why ASX lithium stocks are in the spotlight appeared first on The Motley Fool Australia.

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More reading

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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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Suncorp Group Ltd (ASX: SUN) shareholders might be wondering why the share price has fallen 2.07% to $11.35 today.

The insurance giant released its FY2022 scorecard on Monday, reporting a mixed performance across its key financial metrics.

In turn, the board elected to significantly reduce its upcoming final dividend by 65% as a result of the challenging year.

Let’s take a look below at why Suncorp shares are falling during mid-morning trade.

Shareholders set eyes on the Suncorp dividend

The Suncorp share price is in reverse following the company’s shares trading ex-dividend today.

The ex-dividend date is particularly important as it determines which shareholders will receive the company’s latest dividend.

If you held Suncorp shares at yesterday’s market close, you will be eligible for the final dividend.

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?

For those eligible for Suncorp’s final dividend, shareholders will receive a payment of 17 cents per share on 21 September.

The dividend is fully franked which means investors will receive tax credits to put to their next tax bill.

Management noted that the full-year dividend payout of 75% of cash earnings is towards the top of the target payout ratio range of 60% to 80%.

You can also elect for the dividend reinvestment plan (DRP) which will add a portion of shares to your portfolio instead. This will be based on a 10-day volume-weighted average price (VWAP) from 18 August to 31 August.

There is no DRP discount and the last election date to opt in is on 16 August.

Suncorp share price summary

For 2022, Suncorp shares have gained around 2% despite being heavily impacted by inflationary movements and market volatility.

The S&P/ASX 200 Financials (ASX: XFJ) sector has treaded the other way, down 2% over the same timeframe.

Based on today’s price, Suncorp commands a market capitalisation of approximately $14.46 billion and has a trailing dividend yield of 5.67%.

The post Why is the Suncorp share price slipping today? appeared first on The Motley Fool Australia.

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More reading

• Why Alliance, Aurizon, MVP, and Suncorp shares are dropping today
• Suncorp share price slides following softer-than-expected FY2022 results
• Suncorp share price on watch after FY22 profit falls 34%
• 5 things to watch on the ASX 200 on Monday
• Why has the Suncorp share price gone backwards since the ANZ takeover news?

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.

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