Category: Stock Market

When it comes to investing in international shares on the ASX, investors often turn to exchange-traded funds (ETFs). ETFs like the Vanguard MSCI International Shares Index ETF (ASX: VGS) can be an easy and cost-effective way to add some diversification to one’s portfolio.

This is especially useful regarding shares listed outside the ASX, which can often be complicated to invest in on an individual share basis.

Indeed, the VGS ETF is one of the first choices for ASX investors interested in international shares. It is currently the second-most popular international shares index fund on the ASX, behind the iShares S&P 500 ETF (ASX: IVV).

Unlike IVV, which invests only in US companies, VGS is a truly international fund, offering exposure to more than 20 countries and their share markets. It has close to 1,500 individual shares within it, most of which hail from the United States.

As such, it is the most significant US shares such as Apple Inc, Amazon.com Inc and Microsoft Corporation that dominate this ETF’s holdings.

But you’ll also find companies from other countries such as France, Canada, Japan, Switzerland, Hong Kong and the United Kingdom in this ETF as well.

So, is VGS really the best ETF out there for international shares, as its popularity suggests?

Well, let’s get under the hood of this ETF.

Performance matters

Arguably the best way to measure an ETF’s quality is to look at its returns and fees compared to its rivals.

In VGS’s case, this ETF has returned an average of 7.89% per annum over the past three years (as of 30 June). Over the past five, it has returned an average of 10.2% per annum.

Looking at fees, VGS charges a management fee of 0.18% per annum. That’s $18 per year for every $10,000 invested.

But let’s now compare these metrics to one of VGS’s rivals in the ASX international shares ETF space – the iShares Global 100 ETF (ASX: IOO). IOO is an ETF that also offers ASX investors exposure to international shares. But it does so in a very different way.

Instead of the almost 1,500 individual shares in VGS’s portfolio, IOO only invests in 100 of the largest companies in the world. These are pulled from a similar geographic range as the VGS portfolio, with economies from Europe, Asia and North America all represented.

But it’s the performance and fees that differentiate the iShares Global 100 ETF from the Vanguard International Shares ETF.

IOO charges a management fee of 0.4% per annum or $40 a year for every $10,000 invested. So already, it is behind VGS in the fees arena.

But let’s see if IOO’s performance can make up for this.

IOO vs. VGS: Which ASX ETF is best?

Over the past three years, IOO has returned an average of 11.87% per annum. Over the past five, it has clocked an annual average return of 13.18%. Both metrics compare favourably against VGS, which has only managed 7.89% and 10.2%, respectively.

That outperformance makes up for IOO’s slightly higher management fee, at least over those periods.

Of course, past performance is no guarantee of future returns, so there’s no way of knowing whether the iShares Global 100 ETF will continue to outperform the Vanguard International Shares ETF. But I know which one I would rather have owned over the past five years.

The post Is VGS the best international shares ETF on the ASX? appeared first on The Motley Fool Australia.

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• What dividend yield is the Vanguard MSCI Index ETF offering to ASX investors?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Amazon, Apple, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Apple, Microsoft, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Amazon, Apple, Vanguard MSCI Index International Shares ETF, and iShares Trust – iShares Core S&P 500 ETF. 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 Tabcorp Holdings Limited (ASX: TAH) share price has outperformed the S&P/ASX 200 Index (ASX: XJO) over the last 12 months while seemingly offering an impressive dividend yield.

The provider of gambling and entertainment services’ stock has lifted around 7.5% over the last 12 months – adjusted for the recent demerger of its lottery and Keno business. It’s currently trading at $1.01.

Meanwhile, the ASX 200 has tumbled nearly 8% since this time last year.

Potentially making the company’s performance even more impressive is the 13.5 cents of dividends it’s paid out in that time. But such offerings likely won’t hold up in the future.

Let’s take a closer look at what’s going on with the ASX 200 consumer discretionary stock’s current dividend yield.

Tabcorp shares offer 13% dividend yield, for now

The Tabcorp share price is currently trading with a 13.3% dividend yield. But that might change in the future following its split from its lottery and Keno business.

The business was spun out into The Lottery Corporation Ltd (ASX: TLC) in May of this year.

It’s also worth noting that, on the eve of their split, the Tabcorp share price closed at $5.34. That saw it offering a dividend yield of 2.5%.

The Lottery Corporation’s assets brought in around 55% of Tabcorp’s earnings before interest, tax, depreciation, and amortisation (EBITDA) in financial year 2021.

Of course, that means it brought in a lot of the cash that made up Tabcorp’s dividends.

Thus, Tabcorp’s future dividends will likely be notably smaller, in line with its new targeted payout ratio of 50% to 70% of its post-demerger net profit after tax (NPAT). Though, there’s no need for immediate worry.

Tabcorp’s final dividend for financial year 2022 is expected to include five months of The Lottery Corporation’s earnings, as well as its own half-year earnings. It will aim to pay out the earnings in line with its previous payout ratio of 70% to 80% of NPAT.

Additionally, many Tabcorp shareholders will now have holdings in a strong dividend-paying stock.

Tabcorp investors received one Lottery Corporation share for each Tabcorp share held as part of the demerger.

The Lottery Corporation is aiming to pay out between 70% and 90% of its NPAT, with its first dividend targeted for March 2023.

The post Is the Tabcorp share price really trading on a 13% dividend yield right now? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• 2 ASX shares that could be takeover targets: expert
• Own Tabcorp shares? Here’s the company’s plan to step up against the competition
• 5 ASX dividend shares with the highest yields in FY22
• 5 best ASX All Ordinaries shares in June

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 Sayona Mining Ltd (ASX: SYA) share price is rangebound today and trades in the green.

At the time of writing, the share is trading 1% higher at 19.3 cents apiece on no news. Sayona has extended gains today and is now up more than 57% over the past month of trade.

Meanwhile, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) is down less than 1% today

What’s up with the Sayona Mining share price?

Sayona has caught a bid this week despite no market-sensitive updates from the company. Noteworthy however, is that the price of lithium continues to remain buoyant.

Whilst most commodity sectors sold off in the period over the past 2 months, lithium carbonate has remained top heavy and now trades in line with February 2022 levels at A$101,654 per tonne.

In that regard, lithium miners like Sayona have gained in strength relative to their counterparts in markets like gold, for instance.

Meanwhile, mining shares have strengthened since 15 July, reversing a downtrend.

The mining benchmark is now up less than 1% for the week, after rolling down to 3-month lows from a peak of 6,220 on 8 June.

Both the Sayona share price and the index are correlated and seem to move in a similar fashion, as plotted below for the past 6 months.

The Sayona share price has held onto a 150% gain over the past 12 months to date and is now surging more than 48% higher for this YTD.

The post Why is the Sayona Mining share price up 35% this week? appeared first on The Motley Fool Australia.

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• Why is the Sayona Mining share price tumbling 6% today?
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The Race Oncology Ltd (ASX: RAC) share price is climbing higher on Friday after the drug developer revealed its June quarter activity report.

At the time of writing, shares in the company are trading 5.4% higher to $2.15 after initially having a slow start to the day.

The significant move is in contrast with an underwhelming performance from the S&P/ASX 200 Index (ASX: XJO) today, with the benchmark inching only 0.06% ahead.

Race Oncology share price boosted by progress

Here are some of the main highlights from Race Oncology’s latest quarterly activities report:

• Completion of Phase 1b involving relapsed Acute Myeloid Leukaemia trial of Zantrene
• Moving to Phase 2 efficacy study with plans to recruit 17 patients
• Positive findings for heart protection from chemotherapy treatment
• On-market share buyback for up to 4 million shares
• Net cash outflow of $2.14 million during the quarter
• Cash position of $33.54 million at the end of June

What else happened in the quarter?

The three-month period was a pivotal time of progress for the company’s Zantrene drug. In addition to successfully completing its Phase 1b trial, Race made several other important findings involving the treatment.

For example, on 22 June, Race announced interim results from its preclinical melanoma research program. Based on the data, Zantrene was found to improve cancer immunotherapy in three key ways. These are the direct killing of melanoma cells, activation of immune cells, and reducing immune evasion genes.

Moreover, the company informed shareholders of findings suggesting heart protection from the damaging effects of chemotherapy when using Zantrene. This information was disclosed to the market on 30 June, followed by a 13% jump in the Race Oncology share price the next day.

What did management say?

In light of the reassuring results, Race Oncology management shared a positive sentiment with shareholders today.

Commenting on the quarter, Race CEO Phillip Lynch said:

We were particularly pleased to see the human heart cell data corroborated in a whole mouse model, confirming that Zantrene when used with doxorubicin protects from cardiac damage, while also improving anti-cancer efficacy. We are now developing clinical programs as we pursue realisation of this high-value opportunity for Zantrene.

What’s next?

Looking to the future, investors can expect more information regarding drug development efforts during the half. Specifically, the company will progress with preclinical in vitro for breast cancer, multiple myeloma, and kidney cancer.

Furthermore, preclinical in vivo (in animal) studies will commence for the same diseases. However, results are said to be shared once relevant IP protections are in place.

Lastly, clinical trials are expected to take place in this year’s third quarter.

Race Oncology share price snapshot

While the Race Oncology share price has been on a winning streak in the last month, rising 30%, the year-to-date performance is less impressive.

Since 2022 began, shares in the company have fallen 40% in value. For reference, 15 June 2022 marked a 52-week low, as the Race Oncology share price hit $1.45.

The post Race Oncology share price leaps 5% on quarter of ‘major advances’ appeared first on The Motley Fool Australia.

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More reading

• Up 38% in a month, what’s sparking the recent Race Oncology share price run-up?
• ASX 200 healthcare shares provided some pain relief today. Here’s why
• Why is the Race Oncology share price soaring 13% today?

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.

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The Humm Group Ltd (ASX: HUM) share price is under pressure on Friday.

In afternoon trade, the financial services company’s shares are down 7% to 47 cents.

Why is the Humm share price sinking?

Investors have been selling down the Humm share price on Friday amid concerns over its exposure to the alleged fraud of Forum Finance.

Last year Humm revealed that the company’s decommissioned Managed Services business provided equipment finance to Forum Finance between 2016 and 2018.

However, following the shutdown of the business, the majority of these assets were sold to a third party and transferred off the company’s balance sheet in 2018.

An initial review estimated the maximum historical exposure to Forum Finance including receivables on-sold to be $12 million post tax.

This morning the company released an update on its potential exposure to Forum Finance. Positively, management confirmed that it “remains of the view that its estimate of the extent of the exposure is reasonable.”

So why are its shares falling?

Although Humm appears confident that its impact from the potential fraud, including receivables that were sold on, is $12 million post tax, one of the buyers of these receivables disagrees.

Today’s announcement confirms reports that Sumitomo Mitsui Banking Corporation has lodged a statement of claim in relation to a potential exposure to Forum Finance.

News Corp media is reporting that Sumitomo Mitsui Banking Corporation is chasing Humm for ~$34 million. It alleges that the company was negligent in selling it items linked to the Forum Group and misled the bank.

Following today’s disappointing decline, the Humm share price is now down by approximately 50% in 2022.

The post Why is the Humm share price slumping 7% on Friday? 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 Humm 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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The Insurance Australia Group Ltd (ASX: IAG) share price is currently down 1.87% to $4.19 after the insurance giant reported its preliminary FY22 results and revealed guidance for FY23.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.2%.

FY22 result

The prelim results have failed to impress investors, judging by the IAG share price. So let’s have a quick recap of what the company reported.

IAG revealed a reported insurance profit of $586 million, representing a margin of 7.4%, down from 13.5% in FY21, and below the FY22 guidance range of between 10% to 12%.

This included a net perils cost of $1.1 billion, $354 million above the original allowance of $765 million, though it was consistent with the expectations announced in March 2022.

IAG told investors about a reported net profit after tax (NPAT) of $347 million, up from a $427 million loss in FY21.

It included a $200 million pre-tax release from the business interruption provision but also included a “challenging operating environment” with a high incidence of natural perils, volatile investment markets and a higher inflationary environment.

Gross written premium growth was 5.7%, up from 3.8% in FY21.

The full-year announcement will be revealed on 12 August.

FY23 guidance

IAG said that “strong underlying business momentum” is reflected in its guidance for FY23. Expectations about the next 12 months can have an impact on the IAG share price.

Gross written premiums (GWP) are expected to again grow in the “mid to high” single digits, primarily driven by cover claims inflation, higher reinsurance costs, and an increased natural peril allowance. Modest volume growth and an increase in customer numbers are also expected.

The natural peril allowance is increased to $909 million, post quota-share. That’s an increase of around 19% on the FY22 allowance.

IAG share price snapshot

Since the start of 2022, the IAG share price has fallen by 6%.

It is also down by more than 13% over the past year and 2% over the past month.

The post IAG share price drops despite ‘strong momentum’ for FY23 appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
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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 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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The Macquarie Group Ltd (ASX: MQG) share price has dropped 16% so far in 2022.

However, interestingly, over the past month, Macquarie shares have risen by 9%. Today, they are up just over 1% at $176.68.

Investors may be getting more confident about the company’s prospects. But is that growing optimism well-founded?

Let’s look at some expert views.

Broker price targets

A price target is the level at which an expert thinks the share price will be in 12 months from the time of that opinion.

As reported by The Australian, the broker Morgan Stanley recently decided to reduce its price target on the business to $218, which implies a possible rise of more than 20%.

The reason for the reduction was that the FY23 first half could be “more challenging” in asset management and investment banking due to the slowdown in economic activity.

However, it predicted that earnings per share (EPS) would fall by 16% on “better commodities, strong long growth, solid demand for infrastructure and renewable energy assets and lower Aussie dollar”. It also made small upgrades to its profit expectations in FY24 and FY25.

Even so, the broker is still ‘overweight’ — which is similar to a buy rating — on the “quality of growth options”.

The Australian reported that the broker believes Macquarie will say the FY23 first quarter is down compared to the strong FY22 first quarter. But, the broker suggested this is priced in with the fall of the Macquarie share price.

After the FY22 result, the broker Morgans upgraded its rating to add with a price target of $215 after a good performance in Macquarie Capital and commodities and global markets (CGM). It increased its earnings expectations for FY23 and said the FY22 result was essentially strong all around.

Macquarie share price valuation

Morgans is expecting more profit from Macquarie than Morgan Stanley. The Morgans profit estimate puts the Macquarie share price at under 16x FY23’s estimated earnings.

Morgan Stanley’s projection for FY23 puts the Macquarie share price at more than 17x FY23’s estimated earnings.

Outlook comments

While warning of a number of potential factors that could impact its FY23 performance, such as market conditions, global inflation and geopolitical events, Macquarie said that it continues to maintain a cautious stance, with a conservative approach to capital, funding and liquidity, which it said positions it well in the current environment.

Macquarie managing director and CEO Shemara Wikramanayake said:

Macquarie remains well-positioned to deliver superior performance in the medium term. This is due to our deep expertise in major markets, strength in business and geographic diversity and ability to adapt the portfolio mix to changing market conditions, an ongoing program to identify cost-saving initiatives and efficiency, a strong and conservative balance sheet, and a proven risk management framework and culture.

Despite all of the volatility over the past year, Macquarie shares are up 12% over the last 12 months.

The post What’s the outlook for the Macquarie share price in FY23? appeared first on The Motley Fool Australia.

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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 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.

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The market may be edging higher today, but the same cannot be said for the travel sector which has been a sea of red on Friday.

The likes of Corporate Travel Management Ltd (ASX: CTD), Flight Centre Travel Group Ltd (ASX: FLT), Qantas Airways Limited (ASX: QAN), and Webjet Limited (ASX: WEB) have all tumbled lower and are underperforming the market.

Here’s a summary of how they are performing today:

• The Corporate Travel Management share price is down 5%
• The Flight Centre share price is down 3%
• The Qantas share price is down 2%
• The Webjet share price is down 6%

Why are travel shares sinking today?

The catalyst for the weakness in the travel sector today has been the release of a couple of disappointing airline results on Wall Street last night.

Both American Airlines and United Airlines released their quarterly updates and disappointed the market.

While American Airlines delivered its first profit since the pandemic began during the second quarter, its earnings per share were a touch short of consensus estimates.

In addition, capacity concerns overshadowed its return to profit and led to its shares descending deep into the red. Management advised that it expects flight capacity to be between 8% and 10% lower in the third quarter due to higher fuel and labour expenses.

It was a similar story over at United Airlines, which has cut plans to grow flight capacity because of ongoing macroeconomic challenges. In addition, the airline operator’s second-quarter earnings per share fell short of expectations by a wider margin.

This has sparked fears that the travel market recovery may take longer than hoped, which could weigh on the earnings of Flight Centre, Webjet, and other ASX travel shares.

The post Why are Flight Centre, Webjet, and other ASX travel shares sinking today? appeared first on The Motley Fool Australia.

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• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
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• Food, money and travel: 3 ASX shares experts rate as buys right now
• Qantas share price dips amid record delays
• Will the Qantas share price fly higher in FY23?

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 Corporate Travel Management Limited, Flight Centre Travel Group 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.

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Shares in Global Lithium Resources Ltd (ASX: GL1) are on the move today following the company’s latest drilling results.

At the time of writing, the lithium explorer’s share price is travelling 5.94% higher to $1.16 apiece.

Let’s take a closer look at what the Western Australia-based lithium company announced.

Global Lithium strikes ‘significant lithium bearing pegmatites’

In its release, Global Lithium advised it has received encouraging results from the current drilling program at the Manna Lithium Project.

The site is located 100 kilometres east of Kalgoorlie in the infrastructure rich Goldfields region of Western Australia. Global Lithium holds an 80% interest in the project.

The diamond drilling campaign confirmed that lithium bearing pegmatites extend up to 150 metres down dip past the current resource.

Notably, a hole drilled from the reverse circulation (RC) campaign returned multiple wide lithium-cesium-tantalum (LCT) pegmatite intercepts of more than 10 metres.

The RC program is tasked with drilling the diamond pre-collar holes before moving on to targeting the pegmatite.

Some of the assay results included the following:

• 10 metres at 1.21% lithium oxide (Li2O) from 50 metres
• 12 metres at 1.71% Li2O from 75 metres
• 11 metres at 1.31% Li2O from 225 metres
• 6 metres at 1.26% Li2O from 251 metres

Global Lithium stated that the Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt at 1.14% Li2O.

Once the drilling campaign is wrapped up, the company will incorporate the results into an updated Mineral Resource later this year.

What did management say?

Head of geology for Global Lithium, Stuart Peterson commented:

It’s very encouraging to see these great results at such an early stage of the drilling program and they further cement the Company’s decision to acquire an 80% interest in the Manna Lithium Project.

The addition of the double shift for the Mt Magnet diamond drilling crew will speed up the flow of results from this program and enable early planning for the upcoming metallurgical test work. Further deeper diamond drilling will allow the Lithium bearing pegmatites to be targeted to a depth that has never been reached before at Manna, and potentially add critical mass to the size of the deposit which is due to be updated later this year.

Global Lithium share price snapshot

The Global Lithium share price has fallen almost 60% since reaching its all-time high of $2.79 in April.

However, despite being down in the short term, the share is up 340% since its listing in May 2021.

Global Lithium presides a market capitalisation of roughly $173.77 million.

The post ‘Great results’: Here’s why the Global Lithium share price is leaping 6% today appeared first on The Motley Fool Australia.

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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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This week is proving to be monumental for the Zip Co Ltd (ASX: ZIP) share price. The S&P/ASX 200 Index (ASX: XJO) buy now, pay later (BNPL) favourite is racing towards the finish line in a blur of green.

At the time of writing, the Zip share price is 90.5 cents. That’s 17% higher than its previous close and 59% higher than it was at the end of last week.

For context, the ASX 200 has fallen 0.04% today and is currently 2.8% higher than it was at last Friday’s close.

Let’s take a closer look at what’s been going on with the ASX BNPL share this week.

Why has the Zip share price rocketed 59% this week?

The Zip share price is leaping higher on Friday, topping off an incredible week’s trade. There has only been one announcement from the BNPL stock this week, and boy did it get the market in a spin.

Zip released its results for the final quarter of financial year 2022 yesterday, detailing a 27% jump in quarterly revenue compared to the prior corresponding period.

The company’s quarterly transaction numbers also lifted 37% year-on-year, while its bad debts in Australia and New Zealand increased 42 basis points quarter-on-quarter.

Interestingly, Zip co-founder and CEO Larry Diamond said the company’s decision to scrap its planned merger with Sezzle Inc (ASX: SZL) earlier this month will see it reach profitability earlier.

The Zip share price gained 13% amid anticipation of the results on Wednesday and launched 17% following their release on Thursday. Thus, today’s gains might be yet another reaction to the company’s quarterly results.

The post Up 59% this week: Why is the Zip share price surging another 17% today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
• Why Kelsian, Link, Liontown, and Zip shares are racing higher
• ASX 200 midday update: ANZ’s capital raising, Link jumps, Zip’s Q4 update
• Zip share price up 5% following Q4 update
• 5 things to watch on the ASX 200 on Thursday

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 ZIPCOLTD FPO. 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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