Category: Stock Market

Last month, The Motley Fool readers loved seeing which ASX shares professional investors wanted to keep in their portfolios for 5 years.

This is because even though retail investors are told to look to the long term, fund managers behave in the opposite way. 

Their performances are judged on a weekly, monthly, quarterly and yearly basis, which is not necessarily conducive for holding onto a stock for several years.

This is why during each interview for our Ask A Fund Manager series, The Motley Fool refreshingly asks ‘If the market closed tomorrow for 5 years, which stock would you want to hold?’

Here are 4 more ASX shares that the pros would be happy to hold onto until 2026:

ASX tech share that founder still holds after 30+ years

NAOS Asset Management portfolio manager Robert Miller picked Objective Corporation Limited (ASX: OCL), which has been listed on the ASX for more than 20 years.

The share price has multiplied 21 times over that time.

Objective Corp makes enterprise software for governance and workflow, which is primarily used by public sector organisations.

“The business was founded by Tony Walls, who founded it over 30 years ago now. He’s still the CEO and the major shareholder. He still owns over 65% of the shares on issue,” Miller told The Motley Fool. 

“They haven’t raised capital since back in 2000.”

Miller likes how Objective Corp keeps putting money back into the business to grow it.

“They are continually reinvesting in the product and the software offering to make it a benefit for their customers, which in turn drives growth, which they in turn reinvest back in the businesses, and it becomes a bit of a perpetual cycle like that,” he said.

“Very much if the market closed tomorrow … happy to hold this for that period of time.”

Internet connection is a utility now

The last 18 months of one and off COVID-19 lockdowns has really brought home the fact that internet connectivity is now as basic as water or electricity.

This is why 1851 Capital portfolio manager Martin Hickson reckons connectivity wholesaler Uniti Group Ltd (ASX: UWL) is one to hold for the next 5 years.

The network infrastructure company was the fund’s largest position back in June.

“Reason is 90% of their earnings are recurring — so there’s not a lot of risk around that,” he told The Motley Fool.

“They’re providing data to their customers. And so they’re participating in that thematic of increased data usage, demand for high speeds, and that’s not going away over the next 5 years.”

SG Hiscock portfolio manager Hamish Tadgell told The Motley Fool in January that Uniti had a comfortable position in the market.

“Our view is that Uniti is now the number 2 player in what is essentially a duopoly market with NBN.”

Uniti shares are up a stunning 188% over the past 12 months.

ASX share that’s not too hot, not too cold

Sage Capital portfolio manager Sean Fenton thought 5 years is an eternity for ASX shares and the economy.

“Inflation could go up, interest rates could be structurally higher, it might get lower or could be all great,” he told The Motley Fool.

“I don’t think you want to go for a stock that’s got too much growth, that would be pressured by rising yields. And you don’t want to go for something that’s too cheap… or too cyclical because the cycle could have turned within 5 years.”

So the stable choice for him was Metcash Limited (ASX: MTS).

“That’s one where we see some operational improvement come into the business.”

Like other supermarkets, the company has been a COVID beneficiary. But Fenton reckons eating-in will be a lasting trend as working from home or regional areas become more prevalent going forward.

“That benefits Metcash and their IGA network being more exposed to suburban regional areas, less CBD-style areas.”

Metcash is also set to benefit from a surge in building and renovations.

“They’ve also been moving more into hardware — so from Mitre 10 to buying Home Timber & Hardware from Woolworths Group Ltd (ASX: WOW) and Total Tools recently, that’s an area that’s really benefiting.”

Shares for Metcash have risen 17.4% this year.

‘Australia’s major defence stock’

Defence, in more ways than one, is the best 5-year bet for Monash Investors co-founder and director Simon Shields.

“Electro Optic Systems Holdings Ltd (ASX: EOS) [is] Australia’s probably major defence stock, and fantastic technology in laser targeting for use in space communications, tracking satellites, space junk, and by the military,” he told The Motley Fool.

“It’s just got a very long pipeline of contracts that it’s going to be bidding on and almost certainly likely to win a very large percentage of those, given its leadership in those areas.”

EOS shares are in a dip at the moment. They’ve sunk more than 36% for the year so far, despite rising 177% over the past 5 years.

The post 4 ASX shares to hold for 5 years appeared first on The Motley Fool Australia.

More reading

• ASX 200 falls, Metcash down, 4DMedical drops
• ASX 200 midday update: Metcash update, Wesfarmers goes ex-div
• Metcash (ASX:MTS) share price drops following trading update
• Electro Optic Systems (ASX:EOS) share price falls despite revenue growth
• These are the 10 most shorted ASX shares

Motley Fool contributor Tony Yoo 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 Electro Optic Systems Holdings Limited and Objective Corporation Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3zNEjsR

Our largest telco is the latest major company getting in on the act to encourage COVID-19 vaccinations, and the Telstra Corporation Ltd (ASX: TLS) share price is holding up despite the controversy from its campaign.

The Telstra share price inched up 0.1% to $3.86 in after lunch trade. That may not be much of a move, but it’s a positive sign as the S&P/ASX 200 Index fell 0.3%.

Investors are unperturbed by the backlash from some of Telstra’s customers to its “LetsVaxx” campaign, reported News.com.au.

Telstra share price inches up as vaccination campaign draws heat

The telco is offering fully vaccinated customers bonus Telstra Plus Points and it has put “#LetsVaxx” on every customers mobile phone.

However, some customers have reacted angrily to the message. They either believe its an invasion of their privacy and/or do not believe in getting vaccinated.

“Hey Telstra stick your #letsvaxx hashtag that you’ve stuck at the top of my device fair up ya clacker,” one customer wrote, according to News.com.au.

Some are even threatening to terminate their Telstra service unless the company removed the hashtag.

Telstra standing firm

But that isn’t likely to happen. For one, it appears most people support Telstra’s move as several have applauded the company for encouraging people to get the jab.

Our political leaders believe vaccination are the only way for life to return to any kind of normality.

Telstra has also stood by its campaign. It said it respected everyone’s right to choose whether to get vaccinated and pointed out that all Telstra Plus customers will be eligible for bonuses regardless of their vaccination status.

The bonuses include free movie, food delivery discounts, and discounts on items in its rewards store.

Paying employees to get the jab

What’s more, Telstra has hired satirist Mark Humphries for a social media campaign to bust common COVID myths.

“Mark’s sharp satire successfully busted conspiracy theories around 5G and now we’re calling on him to help cut through the noise and debunk Covid-19 vaccination myths,” News.com.au reported Telstra’s chief executive Andy Penn as saying.

The company is also offering employees $200 to get the shots and more than 5,500 of them have taken up the offer.

Other ASX 200 shares backing COVID vaccinations

But Telstra isn’t the only one on the ASX 200 share benchmark to encourage vaccinations. Qantas Airways Limited (ASX: QAN) is offering to reward its customers who are fully vaccinated and requires all customer facing staff to be immunised.

Others jumping in on the act include the Transurban Group (ASX: TCL) share price, National Australia Bank Ltd. (ASX: NAB) share price and Bapcor Ltd (ASX: BAP) share price.

The post Telstra (ASX:TLS) share price withstands its LetsVaxx campaign backlash appeared first on The Motley Fool Australia.

More reading

• Why the Evolution Mining (ASX:EVN) share price is leaping higher today
• The Qantas (ASX:QAN) share price is having a great start to the week
• Leading brokers name 3 ASX shares to buy today
• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Nuix (ASX:NXL) faces yet another indignity

Motley Fool contributor Brendon Lau owns shares of National Australia Bank Limited and Telstra Corporation Limited. 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 Bapcor and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3thQcok

The ResMed Inc. (ASX: RMD) share price is in the green today after it was boosted into the S&P/ASX 50 Index (ASX: XFL).

The respiratory medical device company focused on the treatment of sleep-apnoea is now officially one of ASX’s largest companies, and the market is seemingly pleased with its recognition.

Right now, the ResMed share price is $39.55, 0.64% higher than its previous close.

Let’s take a closer look at ResMed’s new spot among the exchange’s top dogs.

ResMed joins the ASX’s top 50

The ResMed share price is gaining today as the company moves in with ASX’s big wigs.

S&P Dow Jones Index’s quarterly rebalance of the S&P/ASX indices dropped after Friday’s close.

It saw ResMed and Tabcorp Holdings Limited (ASX: TAH) added to the ASX 50. Sadly, A2 Milk Company Ltd (ASX: A2M) and AGL Energy Limited (ASX: AGL) were shown the door. As was Ampol Ltd (ASX: ALD).

Those interested in how other S&P/ASX index’s faired through the rebalance can find The Motley Fool Australia’s in-depth report on all the changes here.

It’s no wonder the healthcare company has wiggled its way into a higher class. The ResMed share price has gained an impressive 64% over the last 6 months.

For comparison, the S&P/ASX 200 Index (ASX: XJO) increased just 11% in the same time frame.

ResMed’s stock isn’t only gaining today, it’s also flying off the shelf.

An average month sees 906,863 of the company’s shares swap hands. Today, more than 1.4 million of ResMed’s securities have been traded. That represents more than $55 million worth of ResMed stock.

ResMed share price snapshot

The ResMed share price has gained 43% year to date. It has also increased 66% since this time last year.

The company has a market capitalisation of around $57 billion.

The post Here’s why the ResMed (ASX:RMD) share price is in the green today appeared first on The Motley Fool Australia.

More reading

• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200
• How to turn $20,000 into $475,000 in 10 years with ASX shares
• If you invested $1,000 in ResMed (ASX:RMD) shares a decade ago, here’s what they would be worth now
• 3 top ASX 200 shares that could be buys
• Will the ResMed (ASX:RMD) share price continue its massive bull run?

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 recommended ResMed. The Motley Fool Australia has recommended A2 Milk and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3zN7ufq

The S&P/ASX 200 Index (ASX: XJO) has not had a great start to the trading week this Monday so far. At the time of writing, the ASX 200 is down 0.35% to 7,496 points. However, the same cannot be said of the Evolution Mining Ltd (ASX: EVN) share price.

Evolution Mining shares are currently up a very healthy 4.36% to $4.07 a share. That comes after this ASX gold miner closed at $3.89 a share on Friday and opened at $3.96 this morning.

So why are Evolution shares shooting so convincingly higher today when the broader market is having a pullback?

Well, there are no major news or announcements out of Evolution today, so we can rule that out.

But we do see some similar moves from many of Evolution’s gold mining peers today. The ASX’s largest gold miner Newcrest Mining Ltd (ASX: NCM) is also on the rise today, up 2.91% so far to $25.29 a share. Likewise, Northern Star Resources Ltd (ASX: NST) is up 2.36% to $9.99 a share. And Gold Road Resources Ltd (ASX: GOR) has enjoyed a 2.8% rise today to $1.29 a share.

So this is definitely a sector-wide trend we are seeing. And that points to one thing in the ASX gold mining space – the price of gold itself. Certainly, looking at the gold price, we can see a very obvious trend.

According to Bloomberg, the yellow metal is currently priced at US$1,829 an ounce. Just a few days ago, it was at US$1,815 an ounce. Around 3 weeks ago, it was at US$1,725.

That’s some significant price appreciation there and likely explains today’s bullishness in ASX gold mining shares.

Could the Evolution Mining share price be a buy today?

Such a healthy leap in the Evolution share price might be drawing some investors’ attention today. So could this ASX gold miner be a buy at current pricing?

Well, one broker who doesn’t think so is investment bank Goldman Sachs. Goldman currently rates Evolution shares as a ‘sell’ with a 12-month share price target of $3.90 a share. That implies a potential downside of more than 4% over the next year.

Goldman doesn’t rate Evolution shares at the current level due to valuation concerns. It points out that the miner is facing “higher corporate costs [and] provisions” and risks in the company’s growth plans.

At the current Evolution Mining share price, the company has a market capitalisation of $7.46 billion and a dividend yield of 2.95%.

The post Why the Evolution Mining (ASX:EVN) share price is leaping higher today appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price withstands its LetsVaxx campaign backlash
• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Nuix (ASX:NXL) faces yet another indignity
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
• Will ASX 200 shares be rocked by RBA taper talk tomorrow?

Motley Fool contributor Sebastian Bowen owns shares of Newcrest Mining Limited. 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.

from The Motley Fool Australia https://ift.tt/3yOkcZW

The S&P/ASX 200 Index (ASX: XJO) is off its intraday lows but remains on course to start the week with a decline. In afternoon trade, the benchmark index is down 0.3% to 7,500.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price has crashed 19% to $2.00. Investors have been selling the sports betting company’s shares after it was dealt another blow with its US expansion plans. On advice from the regulator, Virginia Lottery, BlueBet has withdrawn its application for a Sports Betting Permit in the US State of Virginia. All application fees will be refunded.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has crashed 10.5% to $18.64. The iron ore giant’s shares have come under significant pressure on Monday after they traded ex-dividend for its fully franked $2.11 per share final dividend. Eligible shareholders can now look forward to receiving this dividend on 30 September.

Hansen Technologies Limited (ASX: HSN)

The Hansen share price has tumbled 9% to $5.61. Investors have been selling the billing technology company’s shares after BGH Capital withdrew its takeover proposal. While the private equity firm didn’t provide a reason for withdrawing its offer, it comes following the conclusion of its extensive due diligence.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price has dropped 5% to $59.00. The catalyst for this was news that the health imaging company’s shares have been downgraded by a leading broker. According to a note out of Goldman Sachs, it has downgraded the company’s shares to a sell rating with a $54.00 price target. The broker made the move on valuation grounds. It believes it is hard to justify the premium the Pro Medicus share price is trading on.

The post Why BlueBet, Fortescue, Hansen, & Pro Medicus shares are sinking appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are leading the way on the ASX 300?
• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Hansen (ASX:HSN) share price sinks 13% after withdrawn acquisition proposal
• Why the Fortescue (ASX:FMG) share price is crashing 11% today
• Pro Medicus (ASX:PME) share price down 5% on broker downgrade

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 Hansen Technologies and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended BlueBet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3jIj6L7

The Greenvale Mining Ltd (ASX: GRV) share price has slipped into the red on Monday.

Greenvale shares are trading down today despite the company making an announcement on its maiden drilling program in NT.

Let’s investigate further.

A quick recap on Greenvale Mining

Greenvale Mining is an international energy company. It is in the business of exploiting oil shale deposits.

The company owns the Alpha oil shale deposit in Qld and the Georgina Basin IOCG project in NT.

At the time of writing, Greenvale has a market capitalisation of $170 million.

What did Greenvale announce?

Greenvale advised that it was “on track” to start its “maiden diamond drilling program” at its Georgina Basin Iron Oxide Copper Gold (IOCG) project” by around 15 September.

The project is located in Australia’s “East Tennant district”, which was recently labelled as “one of Australia’s ‘hot spots’” as per the release.

Greenvale also announced that all site preparations are complete, and the field team is now in place.

From its preliminary studies, Greenvale has obtained “encouraging preliminary results” which point to “large-scale” IOCG deposits in a zone known as the “twin peaks”.

This twin peaks section will be targeted by Greenvale’s “initial phase of drilling”. As such, the company has also made significant investment in the specialised mine equipment for drilling and the exploration camp. These factors demonstrate the company’s “commitment to being a long-term player in broader East Tennant area”, as per the announcement.

In addition to these updates, Greenvale also announced it has an “initial four diamond holes” planned across “Eastern and Western targets” at the site.

This coincides with a “high-resolution 12,168–line kilometre airborne, radiometric and geophysical survey” which Greenvale plans to start in the next few weeks.

Investors haven’t bought the news on Monday, and have pushed the Greenvale Mining share price lower on the day.

Greenvale shares are now changing hands at 40.5 cents apiece, an almost 6% drop from the open.

What did management say?

Commenting on the announcement, Greenvale’s managing director, Neil Biddle said:

Our initial program will focus on the large-scale magnetic and gravity targets which we call the ‘Twin Peaks’. The recently completed ground-based gravity program has helped us to refine these targets, which will be tested initially by four deep diamond holes commencing in the middle of this month.

Greenvale Mining share price snapshot

The Greenvale Mining share price has posted a year to date return of 212%. This extends the previous 12 month’s mammoth gain of 820%.

Both of these results have far outpaced the S&P/ASX 200 index (ASX: XJO)’s return of 25% over the past year by a country mile.

The post Greenvale (ASX:GRV) share price slides 6% despite project update appeared first on The Motley Fool Australia.

More reading

• Why BlueBet, Fortescue, Hansen, & Pro Medicus shares are sinking
• The Qantas (ASX:QAN) share price is having a great start to the week
• Why the Pushpay (ASX:PPH) share price is edging higher on Monday
• Why AnteoTech, Appen, Aussie Broadband, & Tyro shares are charging higher
• Here’s why the Tyro (ASX:TYR) share price is leaping 5% today

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.

from The Motley Fool Australia https://ift.tt/3BK8e5z

The Qantas Airways Limited (ASX: QAN) share price is starting the week on the right foot.

The airline’s shares are in the green today, despite not releasing any news.

Right now, the Qantas share price is $5.39, 0.84% higher than its previous close.

The gains come at the same time Singapore – one of the first stops Qantas is planning to make in coming months – is preparing to open a travel bubble with vaccinated Europeans.

Let’s take a look at the latest step towards potential global travel.

Singapore-Europe travel bubble to open

The Qantas share price is on the rise today amid reports that could bring a tear to many a traveller’s eye.

A travel bubble between Germany and Singapore is expected to open this week. It’s the first travel bubble in which vaccinated travellers could travel relatively freely between Singapore and Europe.

Singapore is also expected to open a bubble between it and Brunei this week. Though, Brunei has placed limits on tourism.  

According to Bloomberg, Singapore and Hong Kong were previously planning to allow free travel between them. However, Hong Kong has since tightened its entry requirements.

The publication states the travel bubble between Germany and Singapore will be testing the risks of travelling between 2 highly vaccinated nations.

It might map out a blueprint for Qantas’ planned restart to international travel in December. The Qantas share price boosted 2% on the back of its plans to restart international flights.   

According to Singapore Airlines Ltd., people looking to travel between Germany and Singapore must have had 2 shots of a COVID-19 vaccine.

Additionally, those travelling to Singapore must have been in Germany for the 21 days before their flight. They must also undergo one COVID-19 test 48 hours before take-off and another upon landing.

Travelling to Germany is simpler. Travellers to Germany need to be fully vaccinated and have avoided places where COVID-19 variants of concern exist.

Qantas share price snapshot

Today’s boost included, the Qantas share price has gained 11% since the start of 2021. It has also increased by 38% since this time last year.

The post The Qantas (ASX:QAN) share price is having a great start to the week appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
• If you invested $1,000 in Qantas (ASX:QAN) shares a decade ago, here’s what they would be worth now
• Qantas (ASX:QAN) share price falls while international ‘Points Planes’ considered
• Here’s why the Qantas (ASX:QAN) share price rallied 10% in August
• ASX 200 company bosses lobby for reopening plan

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.

from The Motley Fool Australia https://ift.tt/3kUDwQE

The Pushpay Holdings Ltd (ASX: PPH) share price is tinkering slightly higher today following the company’s senior leadership change.

During mid-afternoon trade, the donor management platform provider’s shares are up 0.30% to $1.685. In comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.62% to 7,476 points.

Pushpay appoints new interim CFO

In a statement to the ASX, Pushpay advised it has appointed Richard Keys as the new interim chief financial officer.

Effective today, Mr Keys will replace current CFO, Shane Sampson, who is scheduled to depart at the end of September. Mr Keys will join the company on a consultancy basis.

With over 30 years experience in healthcare and management, Mr Keys has worked for both public and private organisations. This includes a number of executive and non-executive roles such as CEO of Abano Healthcare Group from 2005 to 2021.

In addition, Mr Keys also served as chief operating officer (2011 to 2015) and CFO (2003 to 2011) during his tenure at Abano Healthcare Group.

Mr Keys is a member of the New Zealand Markets Disciplinary Tribunal, a member of the chartered accountants Australia and New Zealand, and a chartered member of the Institute of Directors in New Zealand. He holds a Bachelor of Commerce from the University of Auckland.

Management noted that its search for a permanent United States-based CFO is progressing well. A market update will be provided in due course once a suitor has been selected.

Pushpay share price snapshot

In 2021, Pushpay shares have gone on a mini-rollercoaster ride to register a 5% loss for the 9 months. When looking at pre-pandemic levels, the company’s share price is up around 50%, highlighting gradual growth over a longer term.

Current, the Pushpay share price is sitting in the lower-mid area of its 52-week range of $1.405 to $2.25.

Pushpay commands a market capitalisation of $1.92 billion and has more than 1.13 billion shares on its books.

The post Why the Pushpay (ASX:PPH) share price is edging higher on Monday appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares with strong growth potential
• 3 excellent ASX growth shares for September
• 3 exciting ASX growth shares for smart investors
• 2 great ASX shares to consider
• Pushpay (ASX:PPH) share price higher on US$150 million Resi Media acquisition

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. owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3yQQ4x8

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 7,484.6 points.

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

AnteoTech Ltd (ASX: ADO)

The Anteotech share price is up 6% to 18 cents. This morning the surface chemistry company announced the signing of a distribution agreement in Turkey with Pera Medikal Anonim Sirketi. This deal is for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test (RDT) in the country.

Appen Ltd (ASX: APX)

The Appen share price is up 4% to $10.93. This is despite there being no news out of the artificial intelligence data services company today. However, with its shares down heavily in 2021, some investors may believe that they have fallen into the bargain bin now. One broker that appears to believe this is the case is Citi. Late last month it put a buy rating and $18.80 price target on its shares.

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price has climbed 4.5% to $4.49. Investors have been buying the broadband provider’s shares after it announced a 10-year deal with VicTrack. This deal will see the two companies swap access to their respective fibre networks. Aussie Broadband expects the agreement to significantly increase the geographic reach of its fibre network, especially into regional Victoria.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is up 6% to $3.99. This appears to have been driven by a positive weekly update and news that the payments company will be added to the ASX 200 at the next rebalance. The latter means that index tracking funds will have to buy its shares. It also brings it onto the radar of fund managers with strict investment mandates.

The post Why AnteoTech, Appen, Aussie Broadband, & Tyro shares are charging higher appeared first on The Motley Fool Australia.

More reading

• Here’s why the Tyro (ASX:TYR) share price is leaping 5% today
• Which ASX shares are leading the way on the ASX 300?
• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Up 9%, the Aussie Broadband (ASX:ABB) share price hits all-time high
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up

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 Appen Ltd, Aussie Broadband Limited, and Tyro Payments. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3zNvsqR

The Tyro Payments Ltd (ASX: TYR) share price is a top performer today, rallying 5.87% to $3.97.

What’s lifting the Tyro share price on Monday?

Weekly COVID-19 trading update

Tyro has been providing weekly transaction value updates since March 2020. This measure was introduced to provide transparency as to the impact of COVID-19 on its EFTPOS machines business.

This week’s update highlighted a 28% increase in date-on-date transaction values to 3 September of $219 million.

While September year-to-date figures were up 23% to $4.579 billion.

Tyro’s transaction value has remained buoyant despite prolonged lockdowns taking place across Victoria and New South Wales.

Tyro joins the ASX 200

S&P Dow Jones Indices announced a rebalance on Friday 3 September. The rebalance will be effective before market open on 20 September.

The Tyro share price, in addition to Lifestyle Communities Limited (ASX: LIC), Pinnacle Investment Management Group Ltd (ASX: PNI) and SeaLink Travel Group Ltd (ASX: SLK), will be added to the S&P/ASX 200 Index (ASX: XJO).

While weak performers G8 Education Ltd (ASX: GEM), NRW Holdings Limited (ASX: NWH), Nuix Ltd (ASX: NXL) and Westgold Resources Ltd (ASX: WGX) will be removed from the index.

Tyro shares performing strongly post-FY21 results

The Tyro share price has rallied 10.5% since releasing its FY21 results on Thursday 26 August.

Despite terminal connectivity issues in January and rolling COVID-19 lockdowns across major cities, the company delivered a well-rounded result.

The payment solutions company delivered a 26% increase in transaction values to a record $25.5 billion and a 13% increase in revenue to $238.5 million.

The company’s bottom line showed signs of improvement with earnings before interest, taxes, depreciation and amortisation (EBITDA) of $14.2 million compared to a $4.4 million loss in FY20. This is in addition to a normalised net loss before tax of $10.9 million, compared to a $25.9 million loss in FY20.

The post Here’s why the Tyro (ASX:TYR) share price is leaping 5% today appeared first on The Motley Fool Australia.

More reading

• Why AnteoTech, Appen, Aussie Broadband, & Tyro shares are charging higher
• Which ASX shares are leading the way on the ASX 300?
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Kerry Sun 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 PINNACLE FPO and Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended PINNACLE FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3l1wlpN