Category: Stock Market

It has been a disappointing finish to the week for the S&P/ASX 200 Index (ASX: XJO). Following a poor night of trade on Wall Street, the benchmark index is down 0.5% to 7,257.4 points.

While this means the ASX 200 is down over 4% year to date, some ASX 200 shares are faring even worse.

Three ASX 200 shares that have tumbled to 52-week lows are listed below. Here’s what’s happening with them today:

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

The Soul Patts share price hit a 52-week low of $25.37 this morning. This means that the investment house’s shares have now fallen 17% since the start of 2022. While it remains a little unclear why its shares are falling, it could potentially be due to expectations that its earnings peak in FY 2022 and then halve in FY 2023.

Xero Limited (ASX: XRO)

The Xero share price dropped to a 52-week low of $101.51 on Friday. This latest decline means the cloud accounting platform provider’s shares are now down 30% since the start of the year. This appears to have been driven largely by concerns over tech valuations amid the prospect of rising interest rates. Goldman Sachs is likely to see this as a buying opportunity. It has a buy rating and $158.00 price target on Xero’s shares.

Zip Co Ltd (ASX: Z1P)

The Zip share price is out of form yet again and has tumbled to a new 52-week low of $2.53. This latest decline means the buy now pay later (BNPL) provider’s shares are down over 40% since the turn of the year. Investors continue to sell down BNPL shares amid concerns over regulatory risks, valuations, and increased competition and marketing costs.

The post The ASX 200 is awash with 52-week lows on Friday. Here are some of the biggest names growing smaller 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. owns and has recommended Washington H. Soul Pattinson and Company Limited, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Washington H. Soul Pattinson and Company Limited and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Rural Funds Group (ASX: RFF) share price is rising today after the agricultural real estate investment trust (REIT) released its latest half-yearly results.

Within the results, the REIT announced additions to its property portfolio.

At the time of writing, the Rural Funds share price is 3.94% higher at $2.90.

Let’s take a look at what the company announced.

What did Rural Funds report?

Highlights of Rural Funds’ HY22 financial results (ending 31 December 2021) included:

• Total net profit after tax of $38.2 million (against its prior corresponding period of $58.4 million)
• Property revenue up 12%, or $3.8m, to $34.8 million
• Balance sheet capacity “within target range”, with gearing at 33%
• Distributions “in line” with forecast at 5.87 cents

During the half-year period, the company made some substantial additions to its property portfolio. As of December 2021, the group’s total assets were at $1.25 billion, up from $1.04 billion in June 2021.

Among these additions was a $100 million entitlement offer achieved back in August, used “to fund the developments of 1,000 hectares of macadamia orchards, the purchase of an 8.3 GL water entitlement and for additional asset acquisitions”.

In November, the company acquired “three cattle and cropping properties” that totalled 33,926 hectares and three mature macadamia orchards.

What else did Rural Funds report?

The company also confirmed a forecasted adjusted funds from operations (AFFO) of 11.9 cents per unit (cpu) and distributions of 11.73 cpu for the second half of FY22. This increase is expected with funds from the J&F Guarantee and acquisitions.

Looking forward to its FY23 distributions, it estimates a 4% increase on FY22 at 12.20 cpu, including franking credits.

Looking forward to the next half, Rural Funds aims to focus on two main strategies to increase investor earnings:

Firstly, the conversion of assets to higher and better use, specifically within the macadamia sector.

The second strategy, improving the productivity of natural resource assets, is being deployed on existing cattle and cropping assets within the portfolio.

Rural Funds share price snapshot

Since the beginning of the year, the Rural Funds share price has dropped 8%. In comparison, the S&P/ASX 200 Real Estate Index (ASX: XRE) has fallen nearly 9%.

Over the last 12 months, Rural Funds shares have increased by 22%.

The company has a market capitalisation of $1.13 billion.

The post Rural Funds (ASX:RFF) share price jumps on first-half financials appeared first on The Motley Fool Australia.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Goodman Group (ASX: GMG)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this integrated property company’s shares to $29.50. This follows the release of a half year result that came in ahead of Citi’s expectations. The broker remains positive on the Goodman’s outlook thanks to strong demand for industrial properties. It also believes that management’s full year guidance is conservative. The Goodman share price is trading at $23.24 on Friday.

South32 Ltd (ASX: S32)

Another note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this mining giant’s shares to $5.00. Citi notes that South32 delivered a half year result in line with expectations. And while it isn’t immune from cost pressures, the broker expects higher commodity prices to offset this and has upgraded its earnings forecasts. The South32 share price is fetching $4.56 today.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Morgans have retained their add rating and $4.56 price target on this telco giant’s shares. Morgans was pleased with Telstra’s half year results. The broker notes that they came in slightly ahead of expectations and its full year guidance has been reiterated. Having looked through the result, its analysts believe under the hood things are looking good. It also believes sector dynamics look positive and value realisation is possible. The Telstra share price is trading at $3.96 on Friday afternoon.

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

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• Are TPG Telecom (ASX:TPG) shares gearing up for a demerger?
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• Telstra (ASX:TLS) share price slides 3% despite ‘strong mobile beat’
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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 owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The TPG Telecom Ltd (ASX: TPG) share price is in focus today on news of a potential demerger of its business.

There are several different parts of TPG’s business. It operates many different telecommunication brands including Vodafone, TPG and Lebara.

It also owns and operates nationwide mobile and fixed networks that are used to connect Australians.

Potential TPG demerger?

It’s the infrastructure side of the business that could be separated.

According to reporting by The Australian, TPG has chosen Bank of America to help it with the sale of its telco tower portfolio worth $1 billion.

But the newspaper also reported on speculation that a demerger could mean all of its infrastructure assets being divested which could also include the fibre network. Only the operating company might remain. If this option were to be pursued then it could mean those TPG assets being sold/divested for “billions of dollars”.

Potential investors might be interested in TPG’s assets because its fibre network is new and advanced after a period of recent construction.

If some sort of deal were to happen, The Australian suggested that TPG would still keep holding a stake in the demerged entity.

Is there any precedent for this sort of deal?

There has been a lot of merger and acquisition activity over the last year. Telco rival Telstra Corporation Ltd (ASX: TLS) has already done somewhat of a similar move.

At the end of June 2021, Telstra announced it was selling 49% of its towers business for $2.8 billion. The sale was to a consortium consisting of the Future Fund, Commonwealth Superannuation Corporation and Sunsuper.

Telstra’s towers business is the largest mobile tower infrastructure provider in Australia with approximately 8,200 towers. That transaction valued the Telstra InfraCo Towers business at $5.9 billion.

It was also reported that AustralianSuper agreed last year to pay Singtel’s Optus $1.9 billion to own 70% of the telecom towers business.

TPG share price snapshot

Over the last month the TPG share price has fallen over 8%. In the last 12 months it has declined by 17.6%.

The post Are TPG Telecom (ASX:TPG) shares gearing up for a demerger? appeared first on The Motley Fool Australia.

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• Brokers give their verdict on the Telstra (ASX:TLS) share price post-results
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• Telstra (ASX:TLS) share price slides 3% despite ‘strong mobile beat’
• ASX 200 (ASX:XJO) midday update: Telstra, Wesfarmers, and Woodside report
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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 owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Origin Energy Ltd (ASX: ORG) share price is plunging lower on Friday despite a top broker predicting big things to come.

UBS has retained its bullish view of the stock despite its first half earnings detailing a rough period for the company.

At the time of writing, the Origin share price is $5.74, 6.74% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently also down, having slipped 0.5%.

Origin’s dip follows today’s non-price sensitive announcement from the company stating it has completed a sale of a 10% interest in Australian Pacific LNG (APLNG).

Here’s what UBS analysts are saying about the energy stock’s future.

What does UBS think of Origin’s first half earnings?

The Origin share price is suffering despite UBS’ positivity on its future.

Origin released its earnings for the first half of financial year 2022 yesterday.

Within them, it announced its statutory net profit after tax (NPAT) had risen to $248 million – notably below UBS’ guidance.

As The Australian reports, the broker expected the company’s half year profits to reach $354 million.

Additionally, analysts Tom Allen and Joseph Wong were disappointed Origin hadn’t increased its Energy Markets guidance and provided lower-than-expected guidance for its stake in APLNG.

Its Energy Market’s guidance for financial year 2022 is still $450 million to $600 million of earnings before interest, depreciation, amortisation, and tax (EBITDA).

Meanwhile, Origin expects to receive $1.1 billion of cash flows from APLNG.

However, UBS isn’t worried. The publication quoted the analysts as saying the company’s earnings “appeared positive overall.”

Additionally, the broker is excited about yesterday’s major news from Origin.

What will Eraring’s closure mean for Origin shares?

Origin has decided to close the doors of its Eraring coal-fired power station in 2025 – 7 years earlier than previously expected.

In its place, Origin will build what could be a 700-megawatt battery.

The UBS analysts said the plan will likely “create value for shareholders”.

“[T]he prevailing economics for Eraring face significant headwinds from increased renewable generation capacity, and thermal coal price exposure,” they said.

As more renewable generation capacity enters the market, volatility in intraday price spreads increases. This means the economics for baseload coal-fired generators, like Eraring, will be increasingly challenged as they cannot react to the low wholesale prices during the middle of the day.

What does the broker expect from the Origin share price?

UBS has retained its high expectations of the Origin share price despite its softer-than-expected first half.

It still rates the stock as a ‘buy’ and has slapped it with a price target of $6.65.

That represents a 15.8% upside on the currently Origin share price.

The post Origin (ASX:ORG) share price slides 7% but UBS is still bullish. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Bruce Jackson.

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The Ethereum (CRYPTO: ETH) price is down more than 8% over the past 24 hours, currently trading for US$2,885 (AU$4,024).

The overnight loss is enough to send the Ethereum price down by more than 6% since this time last week.

While the majority of cryptos in the top 100 list (by market cap) are in the red over the past seven days amid the current hefty sell-off, a few have managed to hold on to some outsized gains.

Rally crypto surges 25% this week

Despite plunging 17% in the past 24 hours, Rally (CRYPTO: RLY) remains up 25% for the full week.

While we weren’t able to find any direct reason for Rally’s, erm, rally this week, Twitter posts suggest that some deep-pocketed crypto investors have been buying the token over the past few days. Though those same investors may well be the ones hitting the sell button today, driving down the Rally price, the Ethereum price, and most of the top cryptos.

So what exactly is Rally?

According to CoinMarketCap:

Rally is a social token-oriented protocol that allows creators to launch their own token and build a digital economy around their work. In this way, creators … can tap into their communities and offer benefits and perks to recruit, retain and monetize their following in a frictionless manner. Each creator on Rally receives a fully customizable, branded cryptocurrency they can use however they deem fit.

With a total market valuation of US$744 million, Rally counts as the 96th biggest crypto in virtual circulation.

Why is the Ethereum price tumbling?

While Rally’s outsized gains of the past few days leave it up for the week, it hasn’t been immune to the same forces pulling down the Ethereum price.

As with the tumbling Bitcoin price, today’s sell-off is predominantly driven by investor jitters over a possible Russian incursion into Ukraine. While Russian officials deny any intent to invade, the United States is warning that Russian forces could attack at any moment.

That geopolitical uncertainty has sent most risk assets – like high growth tech shares and cryptocurrencies – deep into the red.

While the fortunes of even the biggest cryptos, like Ethereum, have joined the risk-off sentiment, investors seeking haven assets are driving up the price of gold. That’s seeing ASX gold shares post outsized gains today, even as the All Ordinaries Index (ASX: XAO) remains down 0.6%.

The post The Ethereum (CRYPTO:ETH) price tanked this week while this crypto rallied 25% appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

 

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The St Barbara Ltd (ASX: SBM) share price is in positive territory on Friday.

At the time of writing, the gold miner’s shares are trading for $1.49, up 1.71%. This means in the past week, its shares have accelerated by 7%.

Let’s take a closer look at some of the factors that are influencing St Barbara shares.

What’s happening at St Barbara?

The St Barbara share price is being pumped up today as the price of gold has surged to US$1,900 an ounce. This follows the tense stand-off between the West and Russia over NATO’s expansion and Ukraine’s potential membership in the alliance.

In times of uncertainty, investors traditionally run to safe-haven assets like gold which has spiked around 5.5% since early February.

In addition, the company released its ore reserves and mineral resources update to the ASX early this morning.

St Barbara highlighted the following:

Total ore reserves are estimated at: 97.8 Mt (million tonnes) @ 1.8 g/t Au (grams of gold per tonne) for 5.8 Moz (million ounces) of contained gold, comprising:

• Leonora Operations: 12.9 Mt @ 5.1 g/t Au for 2.1 Moz of contained gold
• Simberi Operations: 36.7 Mt @ 1.8 g/t Au for 2.1 Moz of contained gold
• Atlantic Operations: 48.2 Mt @ 1.0 g/t Au for 1.6 Moz of contained gold

In summary, the company’s ore reserves have decreased by 460koz (thousand ounces) since 30 June 2021. This was due to adopting an open-pit mining approach to its Tower Hill project in Western Australia and thus removing its underground reserves.

St Barbara advised Tower Hill’s ore reserves will be adjusted following the completion of a pre-feasibility study in Q1 FY23.

Furthermore, the mineral resources statement is listed below:

Total mineral resources are estimated at: 215.8 Mt @ 1.9 g/t Au for 13.5 Moz of contained gold, comprising:

• Leonora Operations: 67.2 Mt @ 3.4 g/t Au for 7.3 Moz of contained gold
• Simberi Operations: 90.0 Mt @ 1.5 g/t Au for 4.2 Moz of contained gold
• Atlantic Operations: 58.6 Mt @ 1.1 g/t Au for 2.0 Moz of contained gold

The company’s mineral resources have increased since the beginning of the new financial year. The change of mining approach for Tower Hill led to the inclusion of additional mineral resources following the net mining depletion.

About the St Barbara share price

Over the past 12 months, St Barbara shares have plummeted around 28%, with year-to-date up marginally by 2%. The company’s share price reached a 52-week high of $2.16 in early 2021 before treading on a downward path.

Based on today’s price, St Barbara commands a market capitalisation of roughly $1.06 billion, with approximately 709.53 million shares outstanding.

The post Here’s why the St Barbara (ASX:SBM) share price is climbing 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 Bruce Jackson.

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The Nickel Mines Ltd (ASX: NIC) share price has been struggling lately despite releasing a barrage of seemingly good news.

Over the last 30 days, it released news of a solar deal, an acquisition, and its quarterly activities report.

Sadly, over the same period, the Nickel Mines share price has tumbled 15.09% to trade at $1.37.

For context, the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) have both slipped 2% over the last month.

Let’s take a look at what exactly has been dragging the nickel explorer and developer’s stock lower over the last month.

Here’s what’s driven the Nickel Mines share price lately

It’s been a busy month for Nickel Mines. And while it’s been releasing numerous announcements, the market has been bidding its share price lower.

The first dip came on 19 January when the company released news of a deal that could see a 200-megawatt peak solar farm built within the Indonesia Morowali Industrial Park.

Power from the solar farm would be able to power Nickel Mine’s processing activities.

Shortly after, the company released its quarterly activities report.

Over the 3 month period ended 31 December, the company’s production and earnings before interest tax, depreciation, and amortisation (EBITDA) were relatively flat with the previous quarter’s.

While January was tough on Nickel Mines’ stock, February brought plenty more drama.

The Nickel Mines share price was put in the freezer on 9 February. It was thawed after the company released news of a US$225 capital raise.

As part of the raise, shares in the company were offered for $1.37 apiece in two placements – each worth $148 million – and an ongoing share purchase plan – worth $18 million.

The funds raised will go towards the acquisition of a 30% stake in the Oracle Nickel Project.

The company announced today that it has paid US$53 million for an initial 10% stake. The other 20% is expected to be acquired by June.

Eventually, it hopes to hold a 70% interest in the project for a total cost of US$525 million.

Nickel Mines said the acquisition “represents [its] next wave of growth” and “provides a clearly defined growth path to the company becoming a top-10 global nickel producer”.

Unfortunately, despite all its seemingly positive news, the company’s stock has only spent 8 trading days in the last month in the green.

Though, the Nickel Mines share price is still 4.5% higher than it was this time last year.

The post Why has the Nickel Mines (ASX:NIC) share price dumped 15% in a month? appeared first on The Motley Fool Australia.

More reading

• Nickel Mines (ASX:NIC) share price slides despite ‘clear endorsement’
• ‘Building a Nickle Empire’: Nickel Mines (ASX:NIC) seizes future-facing nickel opportunities
• Here’s why the Nickel Mines (ASX:NIC) share price is on ice 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 Bruce Jackson.

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The Whitehaven Coal Ltd (ASX: WHC) share price is on course to end the week on a positive note.

In afternoon trade, the coal miner’s shares are up 4% to $3.14.

Why is the Whitehaven share price charging higher?

Investors have been bidding the Whitehaven share price higher today after brokers responded positively to its half year results.

In case you missed it, the coal miner reported a 106% increase in revenue to $1.44 billion and a 1,600% jump in EBITDA to a record of $632 million. This strong result was driven by high prices for thermal coal and allowed the company to announce a $400 million share buyback.

What was the response?

The response to its half year results was very positive from brokers, with a large number reiterating their buy ratings and price targets that are notably higher than current levels.

One of those was Goldman Sachs. This morning the broker retained its buy rating and lifted its price target on the company’s shares to $3.90.

Based on the current Whitehaven share price, this implies potential upside of 24% for investors over the next 12 months.

And with Goldman forecasting dividends per share of 29 cents in FY 2022, which equates to a 9% yield, the total potential return stretches to 33%.

What did Goldman say?

Goldman said: “WHC is a compelling de-gearing and capital returns story in our view. We see the value accretive buyback (GSe NAV A$3.66/sh) as a change in capital allocation towards shareholder returns as the #1 priority, then brownfield expansions (Maules Creek to 16Mtpa) and lastly greenfield projects (Vickery).”

In addition, the broker highlights that the thermal coal price outlook is positive in 2022.

It said: “The thermal coal market remains tight due to supply side issues in Indonesia, Australian & Russia. WHC’s realised thermal coal prices will likely flip from a 15% discount to benchmark in 1H FY22 to in-line with benchmark or a premium in 2H FY22.”

“We upgrade our FY22/23/24 EPS by +27%/+122%/+106% after upgrading our coal price forecasts (thermal & met) by US$30/t for 2022&2023 due to ongoing market tightness,” Goldman concludes.

The post Whitehaven (ASX:WHC) share price tipped as a buy amid ‘compelling de-gearing and capital returns story’ 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 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 Bruce Jackson.

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The IGO Ltd (ASX: IGO) share price is in the green today as the exploration and mining company receives key support to acquire nickel producer, Western Areas Ltd (ASX: WSA).

The IGO share price is currently $12.37, a 1.23% gain.

Let’s take a look at what the explorer announced.

Key backing on nickel acquisition plan

IGO has received support from Andrew “Twiggy” Forrests’ Wyloo Consolidated Investments for the acquisition of Western Areas.

Wyloo has 31,509,769 shares in Western Areas, equating to a 9.8% stake in the company. As part of the deal, Wyloo will vote in support of the acquisition.

Wyloo has also agreed not to acquire or dispose of any shares prior to the scheme implementation. Wyloo is a wholly-owned subsidiary of Wyloo Metals, which is a business division of Twiggy’s Tattarang Group.

The details of the $1 billion takeover were shared with the market in December. The Western Areas board is recommending that shareholders vote in favour of IGO acquiring a 100% stake in the company for $3.36 per share.

Commenting on the announcement today, IGO CEO Peter Bradford said: “Our transaction to acquire Western Areas is on strategy and a sensible consolidation of Western Australian nickel production assets.”

Perpetual Limited (ASX: PPT), which owns 14.7% of Western Areas shares, has previously indicated its intention to vote in favour of the nickel acquisition.

Deal to study nickel processing opportunities

In a separate deal, IGO and Wyloo Metals have agreed to study nickel downstream processing opportunities in Australia. IGO will fund 70% of the study and Wyloo Metals will cover 30% of it.

After the study is complete, the companies may form a joint venture to build a nickel downstream processing facility.

Commenting on this new nickel study, Bradford said:

Looking forward, our agreement with Wyloo Metals to investigate and, if economically feasible, advance
development of a downstream nickel processing facility represents a great opportunity to progress Australia’s
relevance in the battery metals supply chain.

IGO and Wyloo Metals have each had an aspiration to evaluate the potential for downstream nickel processing in Australia and our joint initiative is a step towards realising the ambitions of both companies.

IGO share price snapshot

The IGO share price has surged by 80% over the past year. In 2022, the shares are up by around 4%. For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the past year.

IGO has a market capitalisation of roughly $9.25 billion based on today’s share price.

The post IGO (ASX:IGO) share price lifts as Twiggy greenlights nickel acquisition appeared first on The Motley Fool Australia.

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• IGO (ASX:IGO) share price lower as revenue slides 18%
• Why Beach, Jumbo, Premier Investments, and Western Areas are pushing higher

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 Bruce Jackson.

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