Category: Stock Market

The Macquarie Group Ltd (ASX: MQG) share price has had a stellar month thus far.

Since the start of September, shares in the banking giant have soared more than 6.8% higher.

By comparison, the S&P/ASX200 Index (ASX: XJO) has sunk 2% since the start of the month.

It’s not every day that you see a major bank like Macquarie outperform the broader market.

So, what’s been powering the Macquarie share price in September?  

What’s been happening with the Macquarie share price?

Despite being strongly in the green for September, the Macquarie share price has not had a smooth ride in September.

Shares in the bank bolted to record highs at the start of the month, hitting a high of $182.66.

The catalyst that spurred investors was Macquarie’s update on its short-term outlook.

Presenting at the Jeffries Asia Forum, the investment bank anticipates weaker earnings in the first half of FY22.

The bank also anticipates base fees to be in line with last year. However, Macquarie expects other operating income to come in weaker for the first half.

In addition, the bank also acknowledged that competition amongst its peers will continue to drive margin pressure.

Macquarie also cited its commodities income to be lower for the first half following a strong FY21.

Although the bank painted a dour short term outlook, its shares rose as much as 7% on the day.

However, the Macquarie share price fell out of favour among some analysts.

Leading broker Goldman Sachs retained their neutral rating and lifted its price target on Macquarie’s shares to $170.62

 Analysts noted that Macquarie’s share price may have peaked for the time being.

More on the Macquarie share price

Shares in Macquarie have been buoyed recently after emerging as a contender for VicRoads’ registration, licensing, and custom plates services.

Earlier this year, the Victorian government announced plans to turn VicRoads into a joint venture model.

According to an article by my Foolish colleague, Macquarie Infrastructure and Real Assets is favourite to win the bid.

Apart from the bid, brokers remain mixed on the outlook for the Macquarie share price.

Since the start of the year, shares in the bank have soared more than 27.5% for the year.

At the time of writing, the Macquarie share price is slightly higher for the day at around $177.29.

The post September has been a great month for the Macquarie (ASX:MQG) share price appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram 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 shares of and has recommended Macquarie 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 Computershare Ltd (ASX: CPU) has a new yearly-record.

At the time of writing, shares in the information technology (IT) company are trading for $17.74 – up a whopping 4.78%. Earlier today, shares reached an intraday and 12-month high of $17.945 per share. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is down 0.39%.

While the company hasn’t made any market sensitive announcements in over a month, something is clearly exciting investors.

Let’s take a closer look.

One possible reason Computershare is rising

The rising Computershare share price has coincided with the announcement that its founder, Chris Morris, will leave the board come 11 November.

John Nendick, a senior financial executive who, according to the company, “is an expert in new business models, global financial, accounting and audit matters, transactions and technology and Technology, Media and Telecomm (TMT) trends globally,” will replace Morris on the board. He was appointed on 21 September and will seek a full term at the Computershare annual general meeting.

He was, until recently, the Deputy Global Leader of EY’s TMT business and served on EY’s Global Practice Group.

Computershare Chair, Simon Jones, said of Morris’ retiring

Chris was instrumental in taking Computershare from a local player to an international success story – his knowledge, long-term strategic vision and passion for the industry have underpinned Computershare’s evolution into a successful global public company.

Chris has previously managed a seamless transition from CEO to Executive Chairman, Non-Executive Chairman and Non-executive Director, and we will look forward to his ongoing involvement as a Computershare shareholder. We will recognise Chris’s immense contribution to Computershare at the AGM later this year.

Morris added

Little did I know all those years ago that the business I co-founded would go on to be the global success it is today. It’s been an exciting journey and I am really proud of what the team has achieved. It has been great being part of an Australian global success story.

The Company is in very strong and competent hands with an exciting outlook ahead of it and I have confidence it will go from strength to strength. I expect to remain a shareholder to see the benefits of growth strategies and investments come to fruition.

Computershare share price snapshot

Over the past 12 months, the Computershare share price has increased 46.73%. It’s outpaced the ASX 200 by about 21 percentage points. Year-to-date, Computershare’s value has appreciated 23.19%. The ASX 200 has only increased 10% in the same time.

Computershare has a market capitalisation of approximately $10.2 billion.

The post Why the Computershare (ASX:CPU) share price has a new 52-week high appeared first on The Motley Fool Australia.

More reading

• Why Computershare, Lake, Premier Investments, & Woodside shares are rising
• ASX 200 (ASX:XJO) midday update: Telstra buys Vita stores, Cochlear sinks

Motley Fool contributor Marc Sidarous 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 Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is sliding today despite the bank’s announcement of a new partnership.

The bank has partnered with clothing recycler Upparel following a change to its employees’ uniforms.

At the time of writing, the Bendigo Bank share price is $9.31, 0.37% lower than its previous close.

Let’s take a closer look at today’s news from Australia’s fifth largest retail bank.

New partnership to up-cycle old uniforms

The Bendigo Bank share price is in the red despite the bank making another step towards better sustainability practices.

In the wake of the bank reaching carbon neutrality this year, it has partnered with Upparel to recycle old employee uniforms.

Upparel is a Melbourne-based initiative focused on reducing Australia’s textile waste. It up-cycles used clothing, linen, and shoes to create socks and children’s furniture.

Under the partnership, the bank’s employees’ now-outdated uniforms will be transformed into filling for furniture and other products.

Bendigo Bank consumer banking executive Richard Fennell said:

We have forecast that there may be up to 10 kilograms of used uniform textiles per employee in storerooms and cupboards nationwide, so it’s important to us that nothing is dumped or sent off-shore for processing and that this material is sustainably reused.

Employees can also put 10 kilograms of their personal clothing items towards the initiative.

Each kilogram of clothing recycled by Upparel saves between 3 kilograms and 4 kilograms of greenhouse gasses from being released into the atmosphere.

The bank has already committed to using only renewable energy by 2025 and reducing its total emissions to zero by 2030.

Bendigo Bank share price snapshot

This year so far hasn’t been great for the Bendigo Bank share price.

It has fallen 1.2% since the start of 2021. However, Bendigo Bank shares are 53% higher than this time last year.

The bank has a market capitalisation of around $5.2 billion.

The post Bendigo Bank (ASX:BEN) share price slips despite recycling partnership 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 owns shares of and has recommended Bendigo and Adelaide Bank 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 Vita Group Limited (ASX: VTG) share price is sliding today as the company plans to sell assets, giving more than half the profits back to its shareholders.

Vita is selling its retail information and communication technology segment to Telstra Corporation Ltd (ASX: TLS). The sale is expected to bring in a cool $110 million.

At the time of writing, the Vita share price is trading at 88 cents, 4.86% lower than its previous close.

Let’s take a closer look at today’s news from Vita.

Vita’s asset sale

The Vita share price is sinking on news it plans to sell its Telstra-branded stores and Sprout business for $110 million cash.

The cash consideration is still subject to a net working capital and net-debt adjustment. That will be finalised late this month.

Currently, Vita operates 104 Telstra-branded stores. The deal under which Vita operates the shops took a blow in February when Telstra announced it would fully own all Telstra stores by 2025.

It appears that Vita has run out in front, selling the portfolio, alongside its technological accessory brand, Sprout, to Telstra.

Of the $110 million to be received from the sale, Vita will keep $35 million. The remaining sale value – between $65 million and $75 million – is expected to be handed back to shareholders in the form of a special dividend.

The fully franked special dividend will be worth 39 cents to 45 cents per share and paid in 2 payments.

Vita advised that the $35 million kept in the company’s coffers would go towards growing its Artisan Aesthetic Clinics business.

The sale is subject to shareholder approval.

Additionally, Vita has confirmed that none of its employees will lose their jobs due to the sale. They will continue to be employed by the Vita People entity, which will be owned by Telstra.

Vita share price snapshot

Today’s dip is just the latest fall for the Vita share price, which has sunk 18.9% since the start of 2021. Vita shares are also 18.2% lower than this time last year.

The post Vita (ASX:VTG) share price sinks on asset sale and special dividend appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra buys Vita stores, Cochlear sinks
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• 2 ASX shares just had a shocking month but could be bargains now

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 owns shares of 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 Pepinnini Minerals Ltd (ASX: PNN) share price has jumped out of the starting blocks on Friday and is now trading at 61 cents. This is 49% higher than its closing price yesterday.

In earlier trading, it hit an intraday high of 65 cents, up 58% and just 3 cents below its 52-week high.

The impressive surge in the Pepinnini share price has been spurred by the announcement of a new agreement today.

Here’s what’s happening.

What did Pepinnini Minerals announce?

The company advised that it has signed an agreement in Argentina with Litho Minera SA. This is a subsidiary of one of the world’s leading lithium manufacturers, Gangfeng Lithium (HKG: 1772).

Pepinnini entered into the agreement via its own subsidiary, Pepinnini SA for a pipeline to carry lithium brine from Ganfeng’s Mariana Project in Argentina.

This pipeline will basically run from Gangfeng’s project to Pepinnini’s Santa Ines project to the northwest.

It will be a “more environmentally friendly option than road for brine transport”, according to the company.

The pair will also carry out an induced polarisation (IP) geophysical survey on 11 kilometres of Santa Ines. Both parties will cover the survey’s costs.

Pepinnini said the survey will be a useful interpretive tool for the pair. It will begin in October and run for 12 days.

According to a statement released by Pepinnini:

For Pepinnini it will be an exploration tool for copper-gold mineralisation targets for drill testing while it will give Ganfeng reassurance that the pipeline trace will not require relocation in the event of a mineral discovery.

Investors have bought on the news and are continuing to drive the Pepennini share price higher this afternoon.

Pepinnini share price snapshot

It’s been a rocky road for the Pepinnini share price, although it has climbed 74% since 1 January.

Over the past month alone, Pepinnini shares have gained 96% and show no sign of slowing down today.

Study results out of its lithium brine project in Chile have propelled the Pepinnini share price higher this week, too.

The share price is up 408% over 12 months. This compares to about 25% for the S&P/ASX 200 Index (ASX: XJO).

The post The Pepinnini (ASX:PNN) share price jumps 58% on new agreement appeared first on The Motley Fool Australia.

More reading

• Pepinnini Minerals (ASX:PNN) share price rockets 40% on lithium update

The author Zach Bristow has no positions 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 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 have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

AGL Energy Limited (ASX: AGL)

According to a note out of Ord Minnett, its analysts have upgraded this energy company’s shares to a buy rating with a trimmed price target of $7.55. The broker made the move in response to a sharp pullback by the company’s shares this year. Ord Minnett notes that this leaves AGL’s shares trading below its valuation of just its retail business. The AGL Energy share price is changing hands for $6.01 on Friday.

Bapcor Ltd (ASX: BAP)

A note out of Citi reveals that its analysts have upgraded this auto parts company’s shares to a buy rating with an $8.25 price target. Citi upgraded the company’s shares on valuation grounds after a sizeable post-results pullback. In addition, the broker is positive on Bapcor’s outlook due to its store rollout plans and its belief that it will benefit from the opening up of New South Wales and Victoria from lockdowns in the near future. The Bapcor share price is fetching $7.51 this afternoon.

Brickworks Limited (ASX: BKW)

Another note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this building products company’s shares to $30.00. This follows the release of a full year result that was ahead of both the broker’s expectations and the market consensus estimate. Looking ahead, the broker is confident in its outlook and has upgraded its forecasts to reflect this. The Brickworks share price is trading at $25.25 on Friday afternoon.

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

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• Why the embattled AGL (ASX:AGL) share price is surging higher today
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• Why Bapcor, Brickworks, News Corp, & Premier Investments are rising

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 Brickworks. The Motley Fool Australia owns shares of and has recommended Bapcor and Brickworks. 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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Shares in Dimerix Ltd (ASX: DXB) are soaring today, shooting up 9% in early trade. At the time of writing, the Dimerix share price has retreated slightly and is now trading at 30 cents apiece, up 7.4%.

Below we take a look at the clinical-stage biopharmaceutical company’s announcement on COVID-19 treatment that looks to be driving investor interest.

What COVID-19 announcement did Dimerix make?

The Dimerix share price is rocketing after the company reported that Indian regulatory agency – the Central Drugs Standard Control Organization (DCGI) – has formally recommended approval of the DMX-200 clinical study in COVID-19 patients.

DMX-200 is Dimerix’s lead drug candidate, developed to potentially treat focal segmental glomerulosclerosis (FSGS), respiratory problems relating to COVID-19, and diabetic kidney disease.

According to the release, numerous clinical sites in India are ready to start recruitment in the feasibility/Phase 3 clinical study of DMX-200 to treat COVID-related respiratory complications.

The DCGI regulatory approval was the final one required before launching the CLARITY 2.0 study. Dimerix expects the first of what may be 600 participants to be dosed inside the next few weeks. The company is still awaiting receipt of the approval permit to move forward.

What did management say?

Commenting on the progress, Dimerix’s CEO Nina Webster said:

We are extremely pleased to be in a position to potentially treat COVID-19 patients suffering debilitating respiratory complications, through both the CLARITY 2.0 study as well as the REMAP-CAP study currently recruiting in Europe…

[I]f DMX-200 does show benefit in respiratory complications associated with COVID-19, it may also show benefit in respiratory complications associated with other infections too, such as pneumonia and influenza. Thus, this provides an opportunity that could extend well beyond the impact of COVID-19.

The study is being led by Professor Meg Jardine, director of the NHMRC Clinical Trials Centre at The University of Sydney, along with Professor Vivek Jha and The George Institute for Global Health India.

Dimerix share price snapshot

With today’s intraday gains factored in, the Dimerix share price is up 39% over the past 12 months. By comparison the All Ordinaries Index (ASX: XAO) gained 27% over that same period.

Dimerix shares are currently trading 2% higher than this time last month.

The post Dimerix (ASX:DXB) share price soars 9% on COVID-19 news appeared first on The Motley Fool Australia.

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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 Evolution Mining Ltd (ASX: EVN) share price has tumbled again today, hitting a new 52-week low.

The plunge has come despite an announcement that the company’s director bought shares in the company yesterday afternoon.

At the time of writing, the Evolution share price is $3.64, 3.19% lower than its previous close.

However, earlier today, Evolution’s shares were trading for $3.60 – a new 52-week low.

Let’s take a look at the latest news from the gold producer and what might be dragging on its share price.

What’s driving Evolution’s stock down today?

The Evolution share price is in the red again today following its 1% dip yesterday.

Today’s drop coincides with a falling gold price. Right now, the price of gold is down 0.01% to US$1749.60 an ounce.

According to Kitco, sentiment in the United States’ manufacturing and mining segment has seen the gold price “unable to find any bullish traction” lately.

Even news of a director purchase hasn’t been enough to boost the Evolution share price.

Less than 90 minutes before the ASX closed on Thursday, Evolution released news its director, Vicky Bins, had purchased 13,140 shares in Evolution through an indirect trust account for $49,932.

Generally, a director buying into a company is seen as a sign they have confidence in the business and that the company’s stock will gain in the future.

However, the positive indication hasn’t bolstered the market’s confidence in Evolution’s stock, the value of which has now fallen 9.7% since this time last month.

Evolution share price snapshot

2021 hasn’t been a good year for the Evolution share price.

It has fallen a whopping 30% since the start of this year. It is also 34% lower than it was this time last year.

The company has a market capitalisation of around $9.9 billion, with approximately 1.8 billion shares outstanding.

The post Evolution Mining (ASX:EVN) share price hits 52-week low appeared first on The Motley Fool Australia.

More reading

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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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing, the benchmark index is down 0.4% to 7,340.1 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Computershare Ltd (ASX: CPU)

The Computershare share price is up 5.5% to $17.89. This is despite there being no news out of the share registry company. However, speculation that the US Federal Reserve could raise interest rates sooner than anticipated may have given its shares a boost. Low rates have been weighing on Computershare’s margins.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is up 8.5% to 63 cents. Investors have been buying this lithium explorer’s shares this week after it announced a partnership with Lilac Solutions. This partnership is for technology and funding to develop Lake Resource’s Kachi Lithium Brine Project in Argentina. The Lake Resources share price is now up almost 700% in 2021.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is up almost 3% to $28.40. This morning the team at Bell Potter responded positively to the retail giant’s full year results. The broker upgraded its shares to a buy rating with a price target of $31.25. “While we expect a rebase in FY22 earnings, we believe this is already priced in & we now look beyond this and see the resumption of solid growth from FY23 onwards. With an implied Just Group EV/EBITDA (pre-AASB16) ~10x, we upgrade from Hold to Buy,” it added.

Woodside Petroleum Limited (ASX: WPL)

The Woodside Petroleum share price is up 2.5% to $22.33. Investors have been buying Woodside and other energy shares today after oil prices charged higher overnight. Traders were buying oil after growing fuel demand and a draw in U.S. crude inventories led to tight supplies.

The post Why Computershare, Lake, Premier Investments, & Woodside shares are rising appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra buys Vita stores, Cochlear sinks
• Why ASX 200 energy shares are trouncing the index today
• 3 more small-cap ASX shares with a competitive edge
• Brokers give their verdict on the Premier Investments (ASX:PMV) share price
• How do you value the Woodside Petroleum (ASX:WPL) share price?

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 Premier Investments 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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Here are 3 ASX shares to keep an eye on today, as they’re likely to fall for no initially obvious reason. Of course, they are 3 of the shares that will be trading ex-dividend today.

As most market watchers will be aware, shareholders who buy into a company after its ex-dividend date aren’t eligible for its upcoming dividend. Instead, the next dividend will go to the seller of any shares traded from today onwards.

So, which ASX shares might struggle as they surpass that milestone today? Let’s take a look.

ASX shares trading ex-dividend today

Sigma Healthcare Ltd (ASX: SIG)

Financial year 2021 (FY21) was productive for Sigma. The company increased its revenue by 5.5% and upped its underlying net profit after tax by 23.7% compared to FY20.

As a result, the pharmaceutical wholesaler, distributor, and pharmacy franchisor is giving its shareholders a 1 cent fully franked dividend. That leaves Sigma with a dividend yield of around 1.59%.

The company’s upcoming dividend is payable on 8 October.

The Sigma share price has fallen 1.64% to trade at 60 cents at the time of writing.

However, that’s not the only news that could be moving the sigma share price today. The company has announced a new CEO will be taking the reins in February 2022.

Atlas Arteria Group (ASX: ALX)

Atlas posted incredible results for FY21, which included an 845% increase to its net profit after tax (excluding notable items) compared to that of FY20.

As a result, the toll road operator provided a 15.5 cent unfranked dividend to its shareholders, giving it an impressive 3.61% dividend yield.

The company’s dividend will be paid on 5 October.

So far today, the Atlas share price has fallen 3.48% on the back of its ex-dividend date. It is currently trading at $6.65.

BSP Financial Group Ltd (ASX: BFL)

Weathering what could have been an ex-dividend-induced storm is the BSP Financial share price, which hasn’t moved at all today.

BSP Financial is set to provide its shareholders with a 1.5 cent dividend (converted from Papua New Guinean Kina at the current exchange rate of AUD$1 to PGK2.56).

The dividend follows from the company’s productive FY21, over which it increased its net profit after tax by 17.6% on that of FY20.

It will be paid on 18 October.

The post These 3 ASX shares are going ex-dividend today appeared first on The Motley Fool Australia.

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• Which ASX shares are ending the week as the biggest movers 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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