Category: Stock Market

The Creso Pharma Ltd (ASX: CPH) share price isn’t going anywhere on Thursday. This comes after the cannabis and psychedelics company requested a trading halt in the minutes during market open.

As such, Creso Pharma shares are frozen at 13 cents apiece. It’s worth noting the company’s shares have gained 13% in the past week.

Why are Creso Pharma shares in a trading halt?

Creso Pharma shares were placed in a trading halt this morning pending an important announcement from the company.

In a statement to the ASX, Creso Pharma said the announcement is regarding the receipt of a material licence from Health Canada.

While no further details have been given, Creso Pharma’s wholly-owned subsidiary, Mernova, was yesterday granted a licence extension to sell medicinal cannabis in Canada.

The news sent the Creso Pharma share price as high as 14 cents, however some profit taking occurred. Its shares ended the day 4% higher at 13 cents.

The green light allows Mernova to expand its sales base by entering the medicinal cannabis market in Canada. In May 2020, the company had received a recreational market licence from Health Canada.

Under the new licence, Mernova can sell its products directly to consumers who are licenced to obtain cannabis for medical purposes. In the past, Health Canada had only allowed the company to sell its medicinal products through wholesalers.

The shares will remain in pre-open until an official announcement is made or the start of trade on Monday 16 August, the company said.

Creso Pharma share price summary

Since this time last year, the Creso Pharma share price has risen sharply by more than 200%. However, in 2021, the company’s shares paint a different picture for investors, down almost 30%.

Creso Pharma has a market capitalisation of roughly $155.5 million with approximately 1.2 billion shares on its registry.

The post The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s why the Creso Pharma (ASX:CPH) share price is up 8% today
• Here’s why the Creso Pharma (ASX:CPH) share price is up 7%
• Why the Creso Pharma (ASX:CPH) share price is soaring 9% higher today
• Here’s why the Creso Pharma (ASX:CPH) share price is surging 15% higher

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 Antipa Minerals Ltd (ASX: AZY) share price is marching higher today, up 1% after earlier posting gains of more than 4%.

Below we take a look at what’s driving investor interest in the ASX resource explorer.

What did Antipa announce?

The Antipa share price is gaining today after the company reported more high-grade gold results at its 100% owned, Minyari Dome Project in Western Australia.

The company has received assays from 11 drill holes. Among the highlighted results, one of the drill holes returned copper and gold intersections including:

28.0m at 1.63 grams per tonne of gold and 0.18% copper from 161.0 metres down hole including:

– 14.0m at 2.67 g/t gold and 0.32% copper from 173.0m, also including:

• 0m at 4.11 g/t gold and 0.38% copper from 176.0m; and
• 0m at 7.88 g/t gold and 0.40% copper from 186.0m

Antipa reported it has now completed 21,400 metres of Resource infill, Resource extensional and brownfield discovery in its Phase 1 drilling campaign. It’s still awaiting assays for 14,000 metres.

Commenting on the new results, Antipa’s managing director, Roger Mason said:

Resource definition drilling continues to intersect strong gold mineralisation over wide intervals which will support a revised resource estimate and project development studies.

At Minyari, high‐grade gold and copper mineralisation has been intersected along 500 metres of strike, down to 600 metres below the surface and across a horizontal width of up to 275 metres, and mineralisation remains open in several directions.

Mason said the company’s Phase 2 drill program has been expanded towards resource extension targets. Those include Minyari East and “a number of high priority greenfield targets”.

These are all within 3 kilometres of Antipa’s existing Minyari and WACA resources.

The company currently has 3 drill rigs on site and expects its Phase 2 drill program to finish in October.

Antipa Minerals share price snapshot

The Antipa Minerals share price is up 23% over the past 12 months, largely in line with the 25% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Antipa Minerals share price is also up 23%.

The post Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today appeared first on The Motley Fool Australia.

More reading

• Why the Antipa Minerals (ASX:AZY) share price is surging today

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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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up a few points to 7,587.9 points.

Here’s what is happening on the ASX 200 today:

Telstra shares hit 52-week high following results

The Telstra Corporation Ltd (ASX: TLS) share price climbed to a new 52-week high this morning following the release of its full year results. Investors have been bidding the Telstra share price higher after the telco giant achieved its FY 2021 guidance, maintained its dividend, and announced a $1.35 billion on-market share buyback. Also getting investors excited was management’s positive outlook. It is guiding to underlying EBITDA growth of 4.5% to 9% in FY 2022.

NAB Q3 update

The National Australia Bank Ltd (ASX: NAB) share price is trading flat today following the release of its third quarter update. According to the release, the banking giant reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion for the quarter. This was broadly in line with the quarterly average achieved during the first half of FY 2021.

QBE half year results impress

The QBE Insurance Group Ltd (ASX: QBE) share price is storming higher after investors responded positively to its strong first half result. The insurance giant returned to form in the first half and reported strong gross written premium (GWP) and profit growth. QBE achieved GWP growth of 26.9% to US$10,203 million and an adjusted cash profit after tax of US$463 million. The latter compares to a US$66 million loss in the prior corresponding period.

Best and worst ASX 200 performers

The GrainCorp Ltd (ASX: GNC) share price is the best performer on the ASX 200 on Thursday with a 14% gain. This morning the integrated grain and edible oils company upgraded its guidance. The worst performer has been the Rio Tinto Limited (ASX: RIO) share price with a 7% decline. This morning the mining giant’s shares went ex-dividend.

The post ASX 200 midday update: Telstra, NAB, & QBE results appeared first on The Motley Fool Australia.

More reading

• QBE (ASX:QBE) share price up 7% after dividend boost
• Telstra (ASX:TLS) share price lifts off after dividend announcement
• Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback
• Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
• GrainCorp (ASX:GNC) share price jumps 12% on guidance upgrade

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns 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 BHP Group Ltd (ASX: BHP) share price is marginally down as Bloomberg reports a group of shareholder activists are pushing the multinational mining giant to keep and close its fossil fuel assets rather than sell them.

BHP confirmed last month it was looking to exit the oil and gas sector. Woodside Petroleum Limited (ASX: WPL) is the rumoured front runner to acquire these assets globally.

At the time of writing, the BHP share price is trading at $52.61 – up 0.17%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.04% higher.

Let’s take a closer look.

“Companies…can no longer get away with green-washing”

Market Forces, a group that aids shareholders in pushing companies on climate change, has tabled a resolution for the annual general meeting (AGM) on behalf of 100 small investors to “wind down production (of fossil fuels) in line with international targets” rather than sell them to other businesses.

In a statement, the group said:

By providing a leading example of responsibly managing down fossil fuel assets, BHP can preserve and realise the genuine value that exists in these assets, align with global climate goals, and support its workers in the transition to a decarbonised economy.

BHP has already begun divesting from thermal coal, with the first deals announced in late June. The BHP share price fell 0.87% on the day this news was announced.

Climate activists previously wanted companies like BHP to sell their high polluting assets. They have changed course over concerns buyers will be less transparent than the original owner, according to Bloomberg.

As well, by selling the assets instead of shutting them down, they will still emit greenhouse gases – it just won’t be on the books of the sellers.

Combined, these shareholders make up less than 0.01% of the ownership of BHP’s ASX shares and less than 0.006% of the entire company. BHP is also listed on the London Stock Exchange. BHP’s board will respond to the resolution before the AGM.

BHP share price snapshot

Over the past 12 months, the BHP share price has increased 31.8%. The ASX 200 is up 23.8% over the same time.

BHP has a market capitalisation of around $244 billion.

The post BHP (ASX:BHP) share price lifts amid activist calls to halt fossil fuel asset sales appeared first on The Motley Fool Australia.

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• How do you value the BHP (ASX:BHP) share price?
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• How does the Rio Tinto (ASX:RIO) dividend compare to the materials sector?
• 2 ASX 200 dividend shares named as buys
• BHP (ASX:BHP) share price struggles amid renewed climate pressure

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 Xero Limited (ASX: XRO) share price opened weaker on Thursday after the company released its 2021 annual meeting chair and CEO address.

At the time of writing, shares in the account software company have pulled back 1.74% to $143.01.

Xero annual meeting highlights

Digitisation tailwinds

Xero chair David Thodey commented on the “significant shift in the way business is conducted, as digitisation accelerates across industries and small businesses adopt cloud technologies as part of their core business toolkit”.

Thodey pointed to a number of government measures driving business digitisation including:

• UK Government’s push to digitalise its tax system and digitally enable small businesses.
• The Australian Government’s $1.2 billion investment into its ‘digital economy’ to lift digital capability and adoption.
• US President Joe Biden’s executive order suggesting consumers should be allowed to access their banking data, likely a move towards open banking.

Xero believes it is strongly positioned for this accelerating global trend, with the opportunity to serve the global small business community.

Management reiterated the strong progress the company has made, with a record number of new subscribers in the second half of the year.

Focus areas

As Xero continues to expand as a global accounting platform for small businesses, Thodey shed light on some key areas.

One aspect was the continued use of mergers and acquisitions to add to the company’s capabilities.

The optimisation of Xero’s operational and financial structure was another factor. The company pointed to its convertible note refinancing as a “great example” which allowed it to deploy funds for three acquisitions made during the year.

The company also highlighted the importance of risk management, particularly around the area of cyber risk.

No update for FY22

Xero CEO Steve Vamos said there would be no update in today’s announcement. However, he reiterated a few elements from the company’s FY21 results.

He said FY22 total operating expenses as a percentage of operating revenue should in the range of 80% to 85%.

Additionally, the Planday acquisition is expected to contribute approximately three percentage points of additional operating revenue growth in FY22.

Xero share price snapshot

The Xero share price hasn’t really gone anywhere, edging 3.7% lower year-to-date.

The main driver of Xero’s recent underperformance could be the company’s full-year FY21 results on 13 May. These triggered a sharp 11% selloff on the day of the announcement.

The post Xero (ASX:XRO) share price edges lower after annual meeting appeared first on The Motley Fool Australia.

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

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The QBE Insurance Group Ltd (ASX: QBE) share price has jumped into the green from the market open, now exchanging hands at $12.39 apiece, a 7% climb.

QBE shares are on the move after the insurance giant upgraded its dividend schedule in its FY21 half year earnings report.

Let’s investigate further.

QBE’s dividend

Historically QBE has exhibited a rather flat level of annual growth in its dividend schedule.

For instance, from October 2015 – April 2020, QBE increased its dividend from 20 cents per share, to 27 cents per share, a compound annual growth rate (CAGR) of around 6%. Then, QBE gave its dividend a large haircut to 4 cents/share in September 2020.

In its FY21 half-year results, QBE confirmed its board had “declared an interim dividend of 11 cents per share, up from 4 Australian cents per share in the prior period”.

The insurance heavyweight scaled up its payout on the back of “strong first half growth”, that saw gross written premium (GWP) increase by around 27%, and net earned premium (NEP) rise roughly 9%.

Moreover, it recognised an underwriting result of US$642 million, which came through to an adjusted cash profit of $463 million, versus a loss of US$66 million. QBE recognised an 11.9% return on equity as a result.

What does this mean for investors?

The step-up in QBE’s dividend normalises the payout shareholders will receive back towards historical averages. In addition, restoration of a company’s dividend schedule is a sign of confidence from its management on the future trajectory of its earnings curve.

Furthermore, equally as assuring is when a company does so coming out of a period of economic uncertainty. It gives a clear impression of the company’s financial health, in terms of liquidity and assets. Moreover, it demonstrates a company is generating a high amount of free cash flow and cash from operations, on healthy margins through its profit and loss statement.

We see evidence of the same in QBE’s half-year results, particularly in cash flow metrics such as net profit after tax (NPAT), which grew from a loss of $712 million in June 2020 to a profit of $441 million this year.

Compounding this, QBE realised a more favourable expense ratio, down to 13.7% from 14.3% a year prior. In addition, QBE’s debt to equity ratio compressed to 31.1%, down from 34.8% a year ago.

Given these growth levers in the company’s growth engine, QBE undoubtedly believes the dividend is well covered as we walk through the coming periods.

Therefore, it stands to reason that investors have favoured the news coming out of QBE’s camp this morning. Shareholders can expect the 11 cents per share dividend to arrive in their bank accounts franked at 10%, as per the release.

QBE share price snapshot

The QBE share price has posted a year to date gain of 45%, extending the previous 12 month’s climb of 23%.

Both of these results have outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of around 25% over the past year.

Over the past month alone, QBE shares have climbed 18% into the green.

The post QBE (ASX:QBE) share price up 7% after dividend boost appeared first on The Motley Fool Australia.

More reading

• Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
• QBE (ASX:QBE) share price in focus after delivering strong first half growth
• How did the QBE (ASX:QBE) share price respond last earnings season?
• Here are the 10 top moving ASX shares on Monday
• Here’s why the QBE (ASX:QBE) share price is up 27% so far in 2021

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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The Telstra Corporation Ltd (ASX: TLS) share price is moving higher this morning, up 3%.

This comes following the release of the ASX telco’s full year results for the 2021 financial year (FY21).

We recap a few highlights below.

What dividend payment did Telstra announce?

Telstra shares could be getting a boost today after the company reported it will pay a final dividend of 8 cents per share, fully franked.

That brings Telstra’s full year dividend to 16 cents per share.

At the current price of $3.94 per share, that works out to a trailing dividend yield of 4.06%.

Bearing in mind that this comes with tax credits at the company’s corporate rate, and that term deposits in Australia are paying in the range of 1% without tax credits, income investors could be helping push the Telstra share price today.

What else did the results reveal?

For the Motley Fool’s detailed coverage of Telstra’s FY21 results, you can follow the link up towards the top.

We’ll just quickly recap 2 key takeaways here that also look to be boosting Telstra’s share price in early trade.

First, while underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 9.7% to $6.7 billion, this was right within the company’s guidance of $6.6–6.9 billion.

While falling earnings aren’t the most welcome of news, investors tend to reward companies that achieve guidance.

Second, Telstra announced a $1.35 billion on-market share buyback. When a company repurchases its shares, existing shareholders often benefit.

Telstra share price snapshot

Over the past 12 months, Telstra is up 16%, trailing the 24% gains posted by S&P/ASX 200 Index (ASX: XJO).

Year-to-date, Telstra’s share price has outperformed the benchmark, up 31% in 2021.

The post Telstra (ASX:TLS) share price lifts off after dividend announcement appeared first on The Motley Fool Australia.

More reading

• Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback
• Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
• Telstra (ASX:TLS) share price on watch after hitting guidance & $1.35bn buyback
• 5 things to watch on the ASX 200 on Thursday
• Telstra (ASX:TLS) FY 2021 results preview

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 Telstra Corporation Ltd (ASX: TLS) share price is moving upwards in morning trade on Thursday following the release of its full-year results. At the same time, the company unveiled a juicy $1.35 billion share buyback for Telstra shareholders.

It appears the market is sufficiently pleased with the increase in earnings from the telco giant compared to the previous year. As a result, shares in one of Australia’s largest companies are currently fetching $3.95 apiece.

What is getting investors excited?

Despite total income falling 11.6% to $23.1 billion for the company, investors seem relatively pleased with today’s results. Cost reductions and increased revenue from its mobile business helped Telstra along to a slight increase in the bottom line.

Moreover, the commentary from CEO Andy Penn was rather positive. For instance, Penn noted that Telstra delivered on its guidance, marking a turning point in its financial trajectory.

An important one for long-term shareholders, the CEO suggested that Telstra’s underlying business would return to full-year growth in FY22.

The Telstra share buyback

Drawing much excitement for shareholders, Telstra also announced it would be undertaking a $1.35 billion share buyback as a means of returning capital from the InfraCo Towers transaction. The cash splash is undoubtedly lighting up dollar signs in investor’s eyes this morning.

Furthermore, the buyback will be conducted on-market during FY22. However, the exact dollar figure and timing is said to be dependent on market conditions.

Commenting on the capital return, Penn said:

When we launched T22, we committed to establishing a standalone infrastructure business unit for three reasons: to give transparency of those assets, to bring a harder commercial edge to how we operationalise them, and to create optionality with a view to maximising shareholder value.

This share buy-back is a clear demonstration of how we are creating additional long-term value for our shareholders.

The proposed start date was specified as 17 September 2021 in another document released to the ASX.

At the time of writing, the Telstra share price is trading at $3.95, representing an increase of 3.13%.

The post Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price lifts off after dividend announcement
• Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
• Telstra (ASX:TLS) share price on watch after hitting guidance & $1.35bn buyback
• 5 things to watch on the ASX 200 on Thursday
• Telstra (ASX:TLS) FY 2021 results preview

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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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In late morning trade, the S&P/ASX 200 Index (ASX: XJO) has given back most of its morning gains and is trading just a fraction higher. At the time of writing, the benchmark index is up slightly to 7,585.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are on fire:

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price has jumped 13% to $6.20. Investors have been fighting to get hold of the integrated grain and edible oils company’s shares after it upgraded its guidance. According to the release, GrainCorp now expects its underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to be in the range of $310 million to $330 million in FY 2021. This is up from its previous guidance of $255 million to $285 million. It is also a material increase on FY 2020’s underlying EBITDA of $108 million.

Myer Holdings Ltd (ASX: MYR)

The Myer share price has stormed 8.5% higher to 51 cents. The catalyst for this was the release of a solid trading update by the department store operator. According to the release, Myer expects to report a 5.5% increase in sales to $2,658.3 million for FY 2021. This follows a 38.3% jump in second half sales compared to the prior corresponding period. This is expected to underpin a full year net profit after tax of $47 million to $50 million. In FY 2020 Myer posted a loss of $11.3 million.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price has jumped 8% to $12.52. This follows the release of a first half result which revealed strong gross written premium (GWP) and profit growth. QBE revealed GWP growth of 26.9% to US$10,203 million and an adjusted cash profit after tax of US$463 million. The latter compares to a US$66 million loss in the prior corresponding period.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price is up 3.5% to $3.97. Investors have been buying the telco giant’s shares after it achieved its FY 2021 guidance, maintained its dividend, and announced a $1.35 billion on-market share buyback. Another big positive was management guiding to underlying EBITDA growth of 4.5% to 9% in FY 2022.

The post Why GrainCorp, Myer, QBE, & Telstra shares are storming higher appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price lifts off after dividend announcement
• Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback
• Myer share price leaps 7% on positive trading update
• GrainCorp (ASX:GNC) share price jumps 12% on guidance upgrade
• QBE (ASX:QBE) share price in focus after delivering strong first half growth

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns 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 Myer Holdings Ltd (ASX: MYR) share price is soaring this morning after the company announced it expects to report a profit for the second half of the 2021 financial year, a feat it hasn’t managed since 2017.

The positive news came in the form of a trading update from the retailer this morning. The update detailed some of the company’s unaudited results for the financial year just been.

The Myer share price has gained 8.51% on the back of the news. Shares in the company are currently swapping hands for 51 cents apiece.

Let’s take a closer look at today’s news from the formerly-embattled department store operator.

Its a good day for Myer

The Myer share price is being boosted by the company reporting a likely green balance sheet.

The last time Myer reported a profit for the second half of any financial year was 4 years ago.

The good news comes despite the company having been hit with COVID-19 travel restrictions and lockdowns over the fourth quarter.

Its unaudited results for the last 6 months of the financial year just been saw it with net profits after tax of between $4 million and $7 million.

Additionally, Myer has brought in around $2.65 billion in sales over the 53 weeks ended 31 July. That represents a 5.5% increase on the financial year prior.

It also plans to report earnings before interest, tax depreciation, and amortisation (EBITDA) of between $174 million and $179 million. For comparison, last financial year the company reported an EBITDA of $93.5 million.

That figure has seen the company with a net profit after tax of between $47 million and $50 million.

As of 31 July, Myer could boast a bank balance of around $112 million – $104 million more than it could at the same point of 2020.

It has also bargained for an extension of its finance facility, which is now due in November next year.

Commentary from management

Myer’s CEO John King commented on the results boosting the company’s share price:

Our Customer First Strategy continues to gain momentum, delivering a significantly improved full year profit result, despite the ongoing COVID impacts in FY21. We will provide further detailed commentary at our audited results announcement in September.

Myer share price snapshot

It’s been a good year so far for the Myer share price.

It has gained 68% since the start of 2021. It is also 152% higher than it was this time last year.

The company has a market capitalisation of around $386 million, with approximately 818 million shares outstanding.

The post Myer share price leaps 7% on positive trading update appeared first on The Motley Fool Australia.

More reading

• ASX 200 edges higher, Crown falls, Pointsbet rises
• Myer (ASX:MYR) share price rallies to 52-week high despite lockdowns

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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