Category: Stock Market

The Oil Search Ltd (ASX: OSH) share price is pushing upwards today following a positive update by the energy producer.

At the time of writing, Oil Search shares are up 0.7% trading at $4.34.

What did Oil Search announce?

In today’s statement, Oil Search advised it has reached a commercial agreement with its joint venture partners in the PNG LNG project. This is in relation to the redetermination of participating interests.

Currently, the PNG LNG project participants include ExxonMobil (33.2% interest), Oil Search (29% interest), Kumul Petroleum (PNG government) (16.8% interest), Santos (13.5% interest), JX Nippon (4.7% interest), and MRDC (PNG landowners, 2.8% interest).

Following its December 2020 initiation, the parties agreed that the current redetermination process would be discontinued and no adjustment made to the participating interests in the PNG LNG project. In addition, they agreed to cancel all future redeterminations provided for under the PNG LNG Coordinated Development and Operating
Agreement.

Oil Search said it would be entitled to a carried interest of US$176 million as part of the agreement. This will come from particular non-PNG state joint venture partners over the calendar years ending 2022 to 2024.

However, after 31 December 2024, the interest may be reduced or increased depending on the results of future drilling activities.

More on the PNG LNG Project

Since going online in 2014, the project has become a world-class liquefied natural gas development.

Operated by ExxonMobil, the PNG LNG project has consistently operated above its nameplate capacity of 6.9 million tonnes per annum (MTPA). In fact, in 2019, the project recorded its highest annual production of 8.5 MT, 23% above nameplate capacity.

The gas is conditioned in the PNG Highlands and then transported by a gas pipeline to the LNG plant located near Port Moresby. The gas is then liquefied at the LNG plant before being loaded onto tankers and shipped to Asian gas customers.

Approximately 7.9 MTPA of LNG from the project is currently sold under long and medium-term contracts. This represents more than 90% of LNG production from the project, reducing exposure to the weak LNG spot market.

About the Oil Search share price

Over the past 12 months, Oil Search shares have gained more than 60%, with year-to-date hovering close to 20%. 

Based on today’s price, Oil Search presides a market capitalisation of roughly $8.96 billion and has 2 billion shares outstanding.

The post Why the Oil Search (ASX:OSH) share price is edging higher appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the 3 most traded ASX 200 shares so far today
• Here are the top 10 ASX shares today
• Here are the 3 most traded ASX 200 shares so far this Tuesday
• ASX 200 energy shares are surging, crude oil to hit US$90/b by year end: analyst

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 Whitehaven Coal Ltd (ASX: WHC) share price is having a great run on the ASX.

Shortly after open today, the Whitehaven share price is $3.26, which is 16.4% higher than it was 8 trading days ago.

The boost is even more impressive as it’s come about despite no price-sensitive news being released by the company.

Let’s take a look at what might be driving the coal miner’s share price higher.

Price of coal hits record highs

Whitehaven’s annual report was released to the market on Friday, 24 September.

Within it, the company’s directors noted global coal supplies are running short as demand from China is increasing.

In fact, that excess demand has seen the price of coal soaring recently.

According to data from Business Insider, a tonne of coal costs US$210 right now. That’s 40% more than this time last month. It’s also coal’s highest price ever.

The value of coal has been increasing due to demand from China outstripping supply. In fact, the nation is experiencing a shortage of the commodity.

China’s winter is approaching fast, and it needs electricity to heat households and keep its industries up and running.

In 2019, 57.7% of China’s electricity was created by burning coal.

According to reporting by Reuters, several Chinese provinces are currently rationing electricity in peak hours. Some manufacturers have had to slash their output due to the power shortage.

But markets can be cruel. The unfortunate news from China is good news for the Whitehaven share price.

As the ASX’s only pure-play coal producer, Whitehaven is seemingly reaping the rewards of record-high coal prices.

Whitehaven Coal share price snapshot

Recent gains to the Whitehaven share price have added to the stock’s strong performance on the ASX this year.

Right now, the company’s stock is trading for 96% more than it was at the start of the year. It has also gained 210% since this time last year.

The post The Whitehaven (ASX:WHC) share price is up 16% in 8 days. Here’s why. appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are the top movers in the ASX 300 today?
• Here’s what’s driving support for ASX 200 energy shares
• Whitehaven Coal (ASX:WHC) share price on the rise after annual report release
• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• Why the Whitehaven (ASX:WHC) share price is lifting on Tuesday

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 NextDC Ltd (ASX: NXT) share price has been under pressure this week. Shares in the Aussie data centre operator have slumped 10.9% lower in the last 5 days to $12.12 per share.

That’s still in the middle of the company’s 52-week trading range, but investors might be wondering what’s driving NextDC’s valuation right now.

Why the NextDC share price is down 11% so far this week

Interestingly, there has been no price-sensitive news from the ASX tech group this week. That hasn’t stopped investors from selling down their exposures and pushing the NextDC share price lower.

It’s worth noting it hasn’t been a great week in general for tech shares. The Aussie markets have tended to follow Wall Street and the US markets lower following their performance overnight.

That’s certainly been the case in the past week or so. US tech shares have been smashed and we’ve seen a similar thing closer to home on the ASX.

The NextDC share price fell 2.7% lower on Wednesday as growth shares were hammered. Rising bond yields have spooked investors and there has been a pullback from those companies who have a lot of their value tied up in future earnings potential.

Rising bond yields mean higher discount rates. In laymen’s terms, a dollar earned today is worth more than a dollar earned tomorrow due to both risk and inflation.

Companies like NextDC don’t currently deliver significant earnings for shareholders. However, the future potential based on its current growth trajectory is what entices investors.

The NextDC share price slumped in late August despite a record FY21 performance. The data centre operator reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 29% to $134.5 million. Group operating cash flow surged 148% to $133.2 million in a bumper year of growth.

However, high expectations combined with rising interest rate fears have put pressure on the company’s shares and seen them sink 10.9% lower in the past week.

The post Why is the NextDC (ASX:NXT) share price down 11% so far this week? appeared first on The Motley Fool Australia.

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• ASX 200 tech correction? 5 of the worst-hit shares
• Why ASX tech shares are crashing on Wednesday
• Technology shares are dragging the ASX 200 down on Tuesday
• The NextDC (ASX:NXT) share price is down 3% on Monday
• 3 ASX tech shares to buy this week

Motley Fool contributor Ken Hall 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 Zip Co Ltd (ASX: Z1P) share price is moving higher on Thursday. At the time of writing, shares are swapping hands for $7.34, up 5.45%.

This follows the buy now, pay later (BNPL) company announcing a new agreement with US-based tech giant Microsoft Corporation (NASDAQ: MSFT).

What’s sending the Zip share price higher today?

Investors are bidding up shares in the second-largest BNPL company on the ASX on Thursday. This is on the back of an announcement that appears to have caught the attention of the market.

According to the release, Zip has entered into an agreement with the second-largest listed company on the planet by market capitalisation – Microsoft.

This agreement involves the integration of Zip’s technology into the shopping experiences within Microsoft Edge. In turn, shoppers using the web browser will be able to use a digital payment option provided by Zip.

The integration into the company’s web browser will begin rolling out in the United States first.

Clearly, the market is chuffed with the news as the Zip share price pushes higher. As noted in the release, the integration unlocks access to more than 1.3 billion devices running Windows 10.

Management commentary

Commenting on the news, Zip co-CEO Brad Lindenberg stated:

Zip provides customers with a transparent, digital payment option, and we are excited to integrate with the shopping experience in Microsoft Edge. Microsoft Edge is a web browser that is built for shopping, and Zip is built for consumers looking for flexible payment options.

The expansion to Microsoft’s web browser follows news last week of Zip’s entrance into the BNPL market in India. To make this possible, Zip made a strategic investment in leading Indian BNPL operator ZestMoney.

Company snapshot

Despite the recent announcements, the Zip share price is down around 2% over the past 6 months. However, year-to-date the company’s shares have appreciated approximately 26% in value. As a result, Zip now holds a market capitalisation of $3.92 billion.

The post Zip (ASX:Z1P) share price jumps on Microsoft integration agreement appeared first on The Motley Fool Australia.

More reading

• Why the Zip share price plunged 6% this morning
• Afterpay (ASX:APT) and Zip (ASX:Z1P) share price falls as Mastercard opens up the BNPL sector
• Why ASX tech shares are crashing on Wednesday
• The S&P 500 just dropped 2%. Why is this impacting ASX 200 shares?
• 2 fantastic ASX tech shares to buy in October

Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. 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. owns shares of and has recommended Microsoft and 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 Bruce Jackson.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is on fire right now. Shares in the Aussie travel agency have soared 18% higher in the 8 trading days since Monday 20 September.

Flight Centre is up again today and trading at $21.25 shortly after open, which is 0.14% higher than yesterday’s close.

So, with Australia’s two most populous states still hampered by COVID-19 restrictions, how can this ASX travel share be charging higher?

How the Flight Centre share price has soared 18% higher in 8 days

One important factor to remember is that the share market is inherently forward-looking. The March bear market saw many ASX travel shares including Flight Centre get smashed even before earnings were directly affected.

The key, however, is that investors knew future earnings would be impacted. Shareholders are interested in future cash flows, which ultimately drives what a company’s intrinsic value is.

It may seem shocking that an ASX travel share can be outperforming while domestic and international borders remain shut. However, that’s exactly what we’re seeing with the Flight Centre share price right now.

There have been no updates from the Aussie travel group since 20 September, and even longer since any price-sensitive announcements. That hasn’t stopped investors from looking to the future and betting on Flight Centre’s success.

The important news in recent days has been around the reopening of the economy. New South Wales is gearing up to begin easing lockdown restrictions from what looks to be 11 October.

There is also a roadmap out of lockdown that includes talk of international border openings, while hopes remain for an easing of interstate restrictions by Christmas.

All of this is good news for the Flight Centre share price. Investors have been buying up big and pushing the ASX travel share up 18% in the past 8 days.

The post The Flight Centre (ASX:FLT) share price is up 18% in 8 days. How is this possible? appeared first on The Motley Fool Australia.

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• Oil at a 3 year high and travel stocks soar. Scott Phillips on Nine’s Late News
• Here are the top 10 ASX shares today
• Why AVZ, Flight Centre, Fortescue, & Sigma shares are storming higher
• Which ASX 300 shares are leading the way on Monday?
• Why these ASX 200 travel shares are flying this Monday

Motley Fool contributor Ken Hall 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 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 BHP Group Ltd (ASX: BHP) share price is trading at a handy dividend yield right now. Shares in the iron ore mining giant boast an 11.1% yield as at Tuesday’s close.

Most double-digit yields would have income investors licking their lips, but is BHP good value based on its current numbers?

Does the BHP dividend yield make it good value?

Perhaps the best reference point is to compare the “big three” iron ore producers: BHP, Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG).

Shares in all three have struggled throughout 2021, and all three boasts solid dividend yields right now. The big question, however, is whether BHP shares look to be good value at current yields.

Sliding share prices and rising yields are certainly intertwined and one reason why the BHP dividend yield is so high. After all, a dividend yield is simply taking annualised actual or expected dividends and dividing them by the share price.

That means if a company announces a bumper dividend based on last year’s results, and then sees significant share price declines, its dividend yield will be through the roof.

Fortescue shareholders know this better than anyone. The Fortescue share price is down 40.3% in 2021 so far but boasts an impressive 24.2% dividend yield. That came after Fortescue doubled its dividend in its August full-year results after a strong performance in FY2020.

It also goes to show why buying ASX shares simply based on dividend yields can be risky business. A 24.2% yield looks great, but losing $10 in share price losses to gain a $3.58 per share full-year dividend doesn’t seem ideal.

So, BHP’s dividend yield is lower than Fortescue. However, the BHP share price has also lost 15.5% compared to Fortescue’s steep decline. What about Rio Tinto?

Rio shares are down 16.0% in 2021 and trading at a 9.4% dividend yield prior to Wednesday’s open. That means Rio’s share price has fallen more and its yield still remains marginally below BHP’s.

Is the ASX resources share good value?

In terms of value, one broker certainly sees it that way. Analysts from Macquarie Group Ltd (ASX: MQG) currently rate BHP with a ‘buy’ rating and a price target of $56 per share.

Given the current $36.39 price level, that implies significant upside to the Aussie mining share. However, Macquarie things commodities outside of iron ore, such as coal, oil, copper and nickel, as key to its current outlook.

Foolish takeaway

The BHP dividend yield is very healthy right now. However, investors need to consider more than just the yield on offer when deciding whether to buy.

Looking purely at the above numbers, BHP shares appear to be trading at a similar relative position to Rio Tinto. Fortescue seems to be more of an outlier with steeper share price declines and a doubling of its dividend compounding its current yield figures.

The big three iron ore miners have seen steep share price declines in 2021 and all are trading at low dividend yields and price to earnings (P/E) ratios right now.

Investors need to do their research beyond just simple statistics to determine whether or not BHP’s dividend yield makes it good value at the moment.

The post Does the 11% BHP (ASX:BHP) dividend yield make it good value? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• The S&P 500 just dropped 2%. Why is this impacting ASX 200 shares?
• How China’s energy crisis could be good for BHP (ASX:BHP) and Rio Tinto (ASX:RIO)
• 2 beaten-up ASX shares that could be buys in October 2021
• BHP (ASX:BHP) shareholders urged to reject climate action plan

Motley Fool contributor Ken Hall 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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It’s been a good week for the Woodside Petroleum Limited (ASX: WPL) share price. Shares in the Aussie energy producer have climbed 7.1% higher despite a wobble in Wednesday’s trade.

So, what’s pushing the oil and gas producer’s valuation higher to end the month?

Why it’s been a great week for the Woodside share price

One of the biggest factors has been a resurgence in crude oil prices. The past couple of weeks has seen the key commodity rise above US$80 per barrel for the first time in 3 years.

Brent crude, the international benchmark, jumped as high as US$80.69 per barrel yesterday to hit its highest level since October 2018. In fact, the price for Brent crude has been rising for seven consecutive days as an energy crisis rages in Europe.

Natural gas prices are also soaring as demand intensifies and an energy shortage looms. The soaring Woodside share price has reflected the widening demand-supply energy dynamics in recent days.

Wednesday’s wobble was also driven by a slight pull back following a 3-year high. Brent oil dipped lower on Tuesday after topping the $80 mark and investors sold down Woodside as a result.

ASX energy shares were down across the board but are still having a great week on the markets. The Oil Search Ltd (ASX: OSH) share price is up 10% in the last 5 days while Santos Ltd (ASX: STO) shares have gained 8% in the same period.

Foolish takeaway

The unfolding energy crisis in Europe, and looming Australian summer, makes the Woodside share price worth watching in the coming months.

Shares in the energy group have been soaring in the last week and have now managed to climb 1.9% higher this calendar year.

The post It’s been a great week so far for the Woodside (ASX:WPL) share price appeared first on The Motley Fool Australia.

More reading

• These 2 ASX shares have been rated as buys by leading brokers
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 energy shares are surging, crude oil to hit US$90/b by year end: analyst
• Here’s what’s driving support for ASX 200 energy shares
• Why the Woodside (ASX:WPL) share price is up 4% today

Motley Fool contributor Ken Hall 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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If you’re looking for some growth shares to add to your portfolio next month, then the three listed below might be worth considering.

Here’s why these ASX growth shares have been rated as buys recently:

Bapcor Ltd (ASX: BAP)

The first ASX growth share to look at is Bapcor. It is the Asia Pacific region’s leading provider of vehicle parts, accessories, equipment, service and solutions. Last month the company revealed strong sales and profit growth in FY 2021 thanks to positive performances across its business. For the 12 months ended 30 June, the company reported a 20.4% increase in revenue to $1,761.7 million and a 46.5% jump in pro forma net profit after tax to $130.1 million.

Citi is positive on the company’s long term outlook and has a buy rating and $8.25 price target on its shares.

Nearmap Ltd (ASX: NEA)

Another ASX growth share to look at is Nearmap. It is an aerial imagery technology and location data company with operations in Australia and North America. From these markets, Nearmap is aiming to deliver annualised contract value (ACV) growth of 20% to 40% per annum over the long term.

One leading broker that appears confident it will achieve this is Morgan Stanley. It currently has an overweight rating and $3.20 price target on its shares.

Nitro Software Ltd (ASX: NTO)

A final growth share to look at is Nitro Software. It is driving digital transformation in organisations around the world with its Nitro Productivity Suite. This software platform provides integrated PDF productivity and electronic signature tools to customers. During the first half of FY 2021, the company reported a 56% increase in annual recurring revenue (ARR) to $33.8 million.

Bell Potter is a big fan of Nitro Software. So much so, it currently has a buy rating and $4.00 price target on its shares.

The post 3 top ASX growth shares to buy next month appeared first on The Motley Fool Australia.

More reading

• 2 fantastic ASX tech shares to buy in October
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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 shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor and Nearmap Ltd. The Motley Fool Australia has recommended Nitro Software 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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If you’re looking to invest in the banking sector, then the Westpac Banking Corp (ASX: WBC) share price could be worth considering.

This is because one leading broker is tipping the shares of Australia’s oldest bank to shoot higher.

Is the Westpac share price a buy?

According to a recent note out of Citi, its analysts have a buy rating and $30.00 price target on the bank’s shares.

Based on the current Westpac share price of $25.17, this implies potential upside of 19% over the next 12 months.

And that’s before dividends. Citi is forecasting a $1.30 per share fully franked dividend in FY 2022. Adding this into the equation, the potential total return stretches to just over 24%.

That’s a very attractive return. Especially when you consider that the Westpac share price is already up 28% since the start of the year.

Why does Citi like Westpac?

Citi is positive on the Westpac share price due to the bank’s bold cost cutting plans.

The company currently has a cost base of approximately $12.7 billion, but is aiming to reduce this down to $8 billion in the coming years.

Citi expects the bank’s cost cutting to help offset a number of revenue headwinds it is facing. This is particularly the case in its Markets and Treasury segments, which remain under pressure.

Does anyone else like Westpac?

Citi isn’t the only broker that likes Westpac. The team at Morgans are also positive on the bank and have an add rating and $29.50 price target on its shares.

This is due partly to its valuation, balance sheet strength, and the prospect of significant share buybacks.

In the respect to the latter, Morgans is forecasting $8 billion of off-market share buybacks over FY 2022 and FY 2023. It expects the commencement of these buybacks to be announced alongside its result release in November.

The post Top broker sees 19% upside for the Westpac (ASX:WBC) share price appeared first on The Motley Fool Australia.

More reading

• Why this top broker thinks the ANZ (ASX:ANZ) share price is overcooked
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• Why these experts say the Westpac (ASX:WBC) share price could be on the way up
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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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Brokers are constantly on the lookout for ASX share opportunities that may be good value.

Share prices and profit expectations are regularly changing as the months go by. So, sometimes a business can quickly change from being bad value to good value, or vice versa.

A company’s share price can rise and that business could be called cheap. Or, it could fall and actually be expensive.

When multiple brokers believe that a business is good value then that may suggest the ASX share is an opportunity. However, all of those brokers could be wrong at the same time.

With that in mind, here are two ideas that are well liked at the moment:

South32 Ltd (ASX: S32)

South32 is a diversified resources business that’s involved in a number of resources included alumina, aluminium, bauxite, metallurgical coal, lead, nickel, manganese, silver and zinc.

This ASX miner is currently rated as a buy by at least six brokers including Morgan Stanley. The broker has a price target of $4.20 on the business, which suggests that South32’s share price could rise by more than 20% over the next 12 months if the broker is right.

Using the broker’s profit projections, South32 shares are valued at just 6x FY22’s estimated earnings with a forward grossed-up dividend yield of 11%.

South32 is benefiting from high prices and high demand for many of its commodities.

In FY21, the ASX share saw underlying earnings rise by 153% to US$489 million, with underlying earnings per share (EPS) rising by 164% to US 10.3 cents.

This high level of profit growth allowed South32 to increase its ordinary dividend by 133% to US 4.9 cents per share and the board also declared a special dividend of 2 cents per share.

However, Morgan Stanley is expecting the dividend to be reduced in FY23 as profit reduces back down. The FY23 grossed-up dividend yield is expected to be around 8%.

Woodside Petroleum Limited (ASX: WPL)

Woodside is a large oil and gas ASX share.

It’s currently rated as a buy by at least four brokers, including UBS. The rising oil price and stronger expectations are feeding into a rosier shorter-term outlook for the business.

For FY22, the broker is expecting Woodside to pay a grossed-up dividend yield of 12.5%. UBS puts the current Woodside share price at 14x FY22’s estimated earnings.

One of the main developments out of Woodside is that it’s seeking to merge with the oil business of BHP Group Ltd (ASX: BHP).

Management said that the combination of Woodside and BHP’s oil and gas business is expected to deliver substantial value creation for both sets of shareholders from across a range of areas.

One of the main benefits is the greater scale and diversity of geographies, products and end markets through an “attractive” and long-life conventional portfolio.

Another attraction is the estimated synergies of more than US$400 million per year, from optimising corporate processes and systems, leveraging combined capabilities and improving capital efficiency on future growth projects and exploration.

In the first half of FY21, the ASX share saw underlying net profit after tax rise 17% to $354 million, whilst free cashflow grew 18% to $311 million. Reported net profit after tax jumped 108% to $317 million.

The post These 2 ASX shares have been rated as buys by leading brokers appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• 2 ASX 200 mining shares to buy in October
• ASX 200 energy shares are surging, crude oil to hit US$90/b by year end: analyst
• Why the South32 (ASX:S32) share price has surged 16% in a month
• Here’s what’s driving support for ASX 200 energy shares

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 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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