Category: Stock Market

The Iluka Resources Ltd (ASX: ILU) share price set a new 52-week high today, reaching a top of $9.27 intraday before pulling back slightly.

At the time of writing, Iluka shares are swapping hands for $9.01, 10% in the green.

Today’s gains build on an extended run for Iluka shares in 2021 so far, which have posted a return of 36% at the time of writing, compared to the S&P/ASX 200 Index (ASX: XJO)’s 9.9%.

So what has Iluka been up to lately?

There has been no market-sensitive news for Iluka today that can be attributed directly to today’s share price movements.

However, Bloomberg LP reports that shares in the international sands and minerals producer have jumped this morning on the back of Rio Tinto Limited (ASX: RIO)’s force majeure on customer contracts at its Richards Bay Minerals interests, due to escalating safety concerns.

Both companies are among the world’s biggest producers of titanium dioxide, and according to Bloomberg, today’s jump in Iluka’s share price reflects expectations Iluka may benefit from Rio’s downtime.

In addition, Bloomberg LP also reports that JP Morgan’s Global Natural Resources Fund added Iluka to its investments back on 22 June.

The Global Natural Resources Fund has returned 34% in the past year, and added 639,590 Iluka shares as shown by its disclosure.

Moreover, on 28 June, Vysarn Ltd (ASX: VYS) said in a statement that its subsidiary Pentium Hydro had secured a goods and services contract with Iluka, valued at $1.7 million.

The contract is a variation to the original drilling services contract announced back in January 2020.

Iluka share price snapshot

The Iluka share price has gained 107% in the last 12 months, and on current prices the company has a market capitalisation of more than $3.4 billion.

Iluka shares have a 52-week range of $4.50–$9.27, a spread of more than 100%.

Iluka shares also trade at a price-to-earnings ratio (P/E) of around 33, and the company pays an annual dividend of 10 cents per share.

The post Iluka (ASX:ILU) share price boosts 10%, hits new 52-week high appeared first on The Motley Fool Australia.

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• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak

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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Cryptocurrency enthusiasts and exchange-traded fund (ETF) lovers might have something in common today – mutual disappointment. That’s because the Australian Securities and Investments Commission (ASIC) delivered some bad news for anyone hoping to access Bitcoin (CRYPTO: BTC), or any other cryptocurrency for that matter, through an ETF.

ETFs have long been used to access investments that normally wouldn’t trade on a share market. Units of the ETFS Physical Gold ETF (ASX: GOLD), for example, represent ownership of physical gold bullion. The BetaShares Crude Oil Index ETF (ASX: OOO) represents exposure to crude oil futures contracts.

But up until now, cryptocurrencies like Bitcoin have not been available via the share market. Sure, would-be crypto investors can use specialised cryptocurrency exchanges to buy whole or fractional coins. But not on the share market. And this situation looks like it will continue for some time. According to a media release today, ASIC has comprehensively poured cold water on the notion of an ASX Bitcoin ETF.

A Bitcoin ETF on the ASX?

The corporate regulator stated that the prospect of a Bitcoin exchange-traded fund would create a “real risk of harm to consumers and markets if these products are not developed and operated properly”.

Although ASIC noted that the potential of cryptocurrency-based ETFs is attracting “significant attention globally”. ASIC also said it is aware of “interest in, and demand for, domestic crypto-asset ETPs”. It stated the following:

ASIC considers that crypto-asset ETPs have novel and unique features that require consideration of whether such products can support fair, orderly and transparent markets and comply with our regulatory framework.

So that looks like a hard no, at least for now. In saying that, ASIC did add a caveat:

The way in which crypto-assets themselves are classified and regulated in Australia is a matter for Government. ASIC notes the Senate Select Committee on Australia as a Technology and Financial Centre is considering this issue, and the proposals in this paper do not seek to pre-determine any decision the Committee may make.

Earlier this week, we actually discussed the possible emergence of a Bitcoin ETF over in the United States. Cathie Wood’s ARK Invest (a US ETF provider) is currently actively exploring launching a Bitcoin-backed fund for the Nasdaq. Perhaps this new fund, if it gets going at all, will set the standard for a global acceptance of this idea. We’ll just have to wait and see. ASIC doesn’t sound like it’s in a hurry to give a green light though.

The post ASIC just poured cold water on an ASX Bitcoin ETF appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 Bitcoin. 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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Shares in Strategic Elements Ltd (ASX: SOR) are flying today following news the company has managed to power a Bluetooth sensor device with moisture. At the time of writing, shares in Strategic Elements are up 13% – swapping hands for 25 cents apiece.

The milestone is part of the innovation company’s quest to develop a moisture-powered battery that can receive charge from humidity in the air or human skin.

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

Technological milestone

Strategic Elements has successfully used its moisture-charged battery to power a Bluetooth sensor.

The feat involved an electronic control board, a Bluetooth communication module, a temperature sensor and a humidity sensor.

The device successfully communicated real time humidity and temperature data to a laptop over a 5-hour period, using power generated from the air around it.

According to the company, the technology has the power to be used for internet of things (IoT) devices. IoT devices are those people don’t directly interact with but that can communicate with other devices over the internet. One example is a garage door that automatically opens when its owner’s car approaches.

The battery uses Strategic Elements’ graphene oxide-based battery ink technology. The technology can create extremely thin batteries that can be printed onto surfaces such as glass or flexible plastic.

According to Strategic Elements, its moisture powered batteries are more environmentally friendly than traditional batteries as graphene oxide is widely available, as is the humidity needed to power them.

Additionally, the company said scaling down batteries can significantly increase their output capacities.

The company plans to test its technology on a prototype of a scaled down, printed battery in the coming weeks.

If that test is successful, Strategic Elements intends to develop a prototype battery pack capable of producing more than a milliamp of electrical current in the coming quarter.

Strategic Elements share price snapshot

Today has boosted the Strategic Elements share price back into ASX green.

Currently, Strategic Elements shares have gained 6.2% since the start of 2021. They’ve also gained 264.2% since this time last year.

The company has a market capitalisation of around $85 million, with approximately 388 million shares outstanding.

The post Strategic Elements (ASX:SOR) share price soars with air-powered battery appeared first on The Motley Fool Australia.

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• This ethical ASX ETF has doubled the ASX 200 in 2021 so far
• Why the IODM (ASX:IOD) share price surged 32% higher 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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Have you got room for a blue chip or two in your portfolio? If you do, then take a look at the blockbuster blue chip shares listed below.

Here’s why they are rated as buys:

Goodman Group (ASX: GMG)

Goodman Group is a leading integrated commercial and industrial property company with $52.9 billion of total assets under management globally. Among its portfolio are warehouses, large scale logistics facilities, and business and office parks. These are leased to high quality companies including Amazon, Coles Group Ltd (ASX: COL), DHL, Showpo, and Walmart.

At the end of the third quarter, the company’s occupancy rate stood at 98% and its net property income was up 3.3% over the prior corresponding period. Management notes that this reflects the strong demand for its properties, which continues to be driven by increased intensification of use, long-term supply chain requirements, tight supply in urban infill locations and the quality of its assets.

In addition to this, the company has $9.6 billion of development work in progress. These developments are expected to underpin further solid income growth over the coming years.

Morgan Stanley is a fan of the company and believes it is well-placed for growth. It recently put an overweight rating and $23.00 price target on its shares.

Xero Limited (ASX: XRO)

Another blue chip ASX 200 share to consider buying is Xero. It is a leading provider of a cloud-based business and accounting solution to small and medium sized businesses. At the last count, the company’s platform was being used by 2.74 million businesses globally. This comprises 1.56 million in the ANZ region and 1.18 million internationally.

Clearly, given the size of the ANZ market compared to the rest of the world, Xero has a very large global market opportunity to grow into over the next decade. In addition to this, it has the opportunity to squeeze more and more revenue out of its users via its burgeoning app ecosystem. It is due partly to the potential of its app ecosystem that Goldman Sachs believes Xero has a multi-decade runway for strong growth.

In light of this, Goldman Sachs is very positive on the company’s prospects. It has a buy rating and $151.00 price target on its shares at present.

The post 2 quality blue chip ASX 200 shares for investors in July appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns 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 Humm Group Ltd (ASX: HUM) share price is in positive territory during mid-afternoon trade. This comes after the company announced it has launched its buy-now, pay-later (BNPL) product into the United Kingdom market.

At the time of writing, Humm Group shares are up 1% to $1.005.

Humm Group expands BNPL offering

Investors appear pleased with the company’s latest update to the ASX, sending its shares higher.

According to its release, Humm Group advised its BNPL product is now live in the United Kingdom (UK). This will give customers the opportunity to shop in-store and online and pay over instalments. Repayments consist of interest-free payment options from 10 weeks to 60 months.

The company noted the expansion strategy will use its existing retail partnerships in Ireland to also service the UK market. Currently, the Humm Group has over 1600 merchants on its books in Ireland.

Humm Group estimates an annual spend of around $200 billion per year across 4 target verticals for the UK market. They are Home and Home Improvement ($74.3 billion), Health ($63.8 billion), Automotive ($51.7 billion), and Luxury ($7.4 billion).

The retail spend in the UK is roughly $778 billion per year. This represents a sizeable market opportunity for the company to tap into other verticals.

Humm Group CEO, Rebecca James commented:

We’re delighted that customers in the UK will now be able to humm their purchases, giving them more choice, transparency and flexibility over how and when they pay. UK customers want to shop smart and we’re here to make that easier. With humm you can take your purchase home today, pay it off over five fortnights, have all your transactions and data digitally in one place, and all the while pay no interest.

In addition to the announcement, Humm Group reshuffled its UK board with three new appointments. The company stated that Mr Stephen Kirkpatrick took the role of chair and non-executive director, with Ms Helene Brichet and Mr Tim Turner also joining as non-executive directors.

Humm Group share price summary

Despite today’s rise, Humm Group shares have had a disappointing run over the past 12 months. The company’s share price is down close to 10% from this time last year, and 12% year-to-date.

On market capitalisation terms, Humm Group is valued at around $490 million.

The post Why the Humm Group (ASX:HUM) share price is climbing today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Humm 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 S&P/ASX 200 Index (ASX: XJO) is back on form on Wednesday. In afternoon trade, the benchmark index is up 0.65% to 7,347.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower today:

AGL Energy Limited (ASX: AGL)

The AGL share price has sunk 9% to $8.30. This follows the release of an update on the energy company’s demerger plans. AGL Energy is planning to become Accel Energy, an electricity generation business focused on the accelerating energy transition. It will then demerge a new entity, AGL Australia, which will be a multi-product energy-led retailing and flexible energy trading, storage and supply business. In light of these plans, the company has terminated its special dividend program.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is down 4% to $11.52. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has downgraded the KFC operator’s shares to a hold rating with a $12.82 price target. It made the move partly on valuation grounds and also due to its softening Australian growth.

Kogan.com Ltd (ASX: KGN)

The Kogan share price has fallen 7.5% to $11.84. With no news out of the ecommerce company, today’s decline appears to have been driven by a combination of tax-loss selling and profit taking. Tax-loss selling involves selling shares that have incurred a capital loss, which may then offset capital gains realised throughout the financial year. As for the latter, prior to today, the Kogan share price was up 25% since the start of June.

Nuix Ltd (ASX: NXL)

The Nuix share price has crashed 13% lower to $2.20. Investors have been selling the company’s shares after its former chief financial officer, Stephen Doyle, became the subject of a criminal investigation into insider trading. Nuix chair, Jeffrey Bleich, said: “We are genuinely disturbed by the allegations concerning Mr Doyle and will fully assist ASIC in getting to the bottom of that matter.”

The post Why AGL, Collins Foods, Kogan, & Nuix shares are tumbling lower appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd. 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 Kogan.com ltd. The Motley Fool Australia has recommended Collins Foods Limited and Nuix Pty Ltd. 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 BetaShares Global Sustainability Leaders ETF (ASX: ETHI) is an ASX exchange-traded fund (ETF) that you might not have heard of. But its performance in 2021 so far perhaps necessitates a rethink.

This environmental, social and corporate governance (ESG)-focused fund is not your standard index fund that follows a ‘warts and all’ index like the S&P/ASX 200 Index (ASX: XJO).

Most benchmark indexes, like the ASX 200, list companies based on market capitalisation alone. Whether a company is a bank, a coal miner, an alcohol seller or a purveyor of gaming and gambling services, it can join the ASX 200.

It just needs a market cap in the top 200 companies of the ASX. That’s regardless of how good, bad or ugly the company’s business may be.

Well, this ETHI ETF doesn’t quite work this way. The BetaShares Global Sustainability Leaders ETF, according to its issuer, has a different approach:

ETHI aims to track the performance of an index (before fees and expenses) that includes a portfolio of large global stocks identified as “Climate Leaders” that have also passed screens to exclude companies with direct or significant exposure to fossil fuels or engaged in activities deemed inconsistent with responsible investment considerations.

What’s in an ETHI-cal ETF?

So this fund holds a basket of companies from around the world that, as you might have gathered, can be classed as ‘climate leaders’. As one might imagine, there are no miners here.

Instead, ETHI’s top holdings include the likes of Apple Inc (NASDAQ: AAPL), Visa Inc (NYSE: V), NVIDIA Corporation (NASDAQ: NVDA) and PayPal Holdings Inc (NASDAQ: PYPL). It also holds Adobe Inc (NASDAQ: ADBE), American Express Company (NYSE: AXP) and Toyota Motor Corp (NYSE: TM).

The ETF is weighted 39.4% towards information technology. A further 16% is towards healthcare, 16% towards financials and 13.9% in consumer discretionary shares.

Geographically, 68.8% of its holdings are from the US markets, with 8.7% from Japan, and 3.9% from the Netherlands.

But let’s get to performance. This ETHI ETF’s unit price has returned 17.01% in 2021 so far. And that’s not even including the distribution payment that came investors’ way back in January.

That compares pretty well against the ASX 200 which has returned 9.87% in growth over 2021 so far. That’s almost double in fact (as the headline told you).

Over the past 3 years, ETHI has returned an average of 23% per annum. It’s also given investors an average of 21.61% per year since its inception in January 2017.

For ethically-minded investors, it might be nice to see a fund that can put its money where its mouth is and give an index-beating performance.

Past performance is no guarantee of future success of course. But this ETF certainly gives us a good look at what ethical investing can do.

The post This ethical ASX ETF has doubled the ASX 200 in 2021 so far appeared first on The Motley Fool Australia.

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American Express is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen owns shares of American Express and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Apple, NVIDIA, PayPal Holdings, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adobe Systems and has recommended the following options: long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Adobe Systems, Apple, NVIDIA, and PayPal Holdings. 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 IODM Ltd (ASX: IOD) share price is flying 32% higher today.

Shares in the software company are flying after announcing a material contract earlier today.

At the time of writing, the IODM share price has been sold down and is trading around 14% higher for the day at around 25.5 cents. Shares in the company were flying 32% higher earlier today after hitting an intra-day high of 29 cents per share.

Lets take a look at what IODM announced and why investors are rushing to buy shares in the company.

IODM share price surges on first Education client in UK

Earlier today, IODM announce that the company has signed its first client in the UK.

According to the announcement, the transactional contract represents more than 30% of the company’s last reported full year revenue. IODM reported revenue in FY20 of approximately $0.645 million.  

The service level agreement which focuses on the education sectors is set for a term of up to 5 years. IODM noted that the signing comes via the Global Partnership agreement with Western Union Business Solutions (WUBS).

The new contract will allow WUBS to provide the IODM platform to existing and new clients in the Education sector in the UK.

According to the announcement, the total assessable market for the education sector is worth an estimated $118.6 million in revenue per annum. IODM noted that the company’s target market, being WUBS existing business, has an achievable revenue market of $57.7 million per annum.

IODM’s management noted that the announcement reflects the long-term positioning of the company’s accounts receivable (AR) solutions. In addition, the company will continue to market its services in other sectors which includes healthcare and related industries.

More on IODM

IODM software solutions uses digital technology to optimise automation.

The company’s software solutions provide an end-to-end AR process that supports customers with invoicing, query management, payment reminders and analytics. IODM’s solutions are customisable, allowing for increased client productivity and timely payments while reducing costs and minimising human error.

The IODM share price has performed strongly in 2021. Including today’s price action, the IODM share price is up more than 55% for the year.

The post Why the IODM (ASX:IOD) share price surged 32% higher today 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 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 Calix Ltd (ASX: CXL) share price is gaining today. At the time of writing, shares in the technology company are trading for $2.69 – up 4.67%.

The positive price movement comes after Calix announced a project it’s involved in will receive nearly $40 million in government funding.

Let’s take a closer look.

Calix share price boosts on government funding

In a statement to the ASX, Calix says it will receive a share of $39 million in government funds for its role in “a low carbon research project.”

Calix is a key partner in the Heavy Industry Low-carbon Transition Cooperative Research Centre (HILT CRC). The Centre aims to reduce carbon emissions in Australia’s heavy industries.

The government funding will boost the research group’s coffers to more than $210 million in cash and in-kind contributions over the next 10 years.

Calix says it will continue to produce technologies to bring down emissions in cement and bauxite production as part of its work with the group.

Industrial partners in the project include Boral Limited (ASX: BLD), Fortescue Metals Group Limited (ASX: FMG) and South32 Ltd (ASX: S32).

The big cash boost seems to be interesting investors, thus, lifting the Calix share price.

Management commentary

Calix Managing Director Phil Hodgson said:

We are excited to be a key partner in the HILT CRC and welcome today’s funding from the Australian government. It will provide opportunities for Calix to grow our expertise and network with some of Australia’s largest heavy industrial and mining companies, while helping to develop CO2 hubs, fast track projects and Australia’s long-term capability for low-carbon projects.

More specifically, it is a chance for us to demonstrate the technology developed for CO2 mitigation in the production of cement and lime through our European LEILAC-1 and 2 projects in an Australian setting, as well as explore other more sustainable applications for our technology in heavy industry, backed by this impressive team of researchers and industrial participants.

Calix share price snapshot

During the past 12 months, the Calix share price has increased by more than 250%. In fact, in just the last 6 months, shares in the company have increased in value by 149%.

Calix has a market capitalisation of $425 million.

The post The Calix (ASX:CXL) share price is rising 5% today. Here’s why 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.6% to 7,346.2 points.

Four ASX shares that are climbing more than most are listed below. Here’s why they are charging higher:

Life360 Inc (ASX: 360)

The Life360 share price has jumped 5% to $6.58. Investors have been buying the app maker’s shares after it announced the creation of a Family Advisory Council that will bring together well-known celebrities and influencers to help shape the company’s product and marketing strategy. Life360 also revealed that it expects its annualised monthly revenue to land towards the higher end of its guidance of US$110 million to US$120 million in 2021.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is up over 7% to $2.08. This follows an update on its Investigational New Drug (IND) application to the US Food and Drug Administration (FDA). Paradigm has responded to the FDA’s questions about its application, stating that it consulted with multiple experts for its responses. This includes a United States board-certified pre-clinical toxicologist and a former FDA physician. Management is optimistic the FDA will be satisfied with its responses and be able to proceed to the next steps of the process.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 15% to 8.5 cents. This morning the lithium explorer revealed that it has been granted approval for the acquisition of Quebec-based North American Lithium (NAL) with Piedmont Lithium Inc (ASX: PLL). Sayona’s Mining’s Managing Director, Brett Lynch, believes this is a key milestone for the company, its partner Piedmont Lithium, and the city of Quebec.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price is up 4.5% to $3.76 after announcing the sale of a 49% interest in Telstra InfraCo Towers. The telco giant is selling the assets to the Future Fund, Commonwealth Superannuation Corporation, and Sunsuper. Telstra expects to receive $2.8 billion after transaction costs, with approximately 50% of net proceeds to be returned to Telstra shareholders in FY 2022.

The post Why Life360, Paradigm, Sayona Mining, & Telstra shares are charging higher appeared first on The Motley Fool Australia.

More reading

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• Telstra (ASX:TLS) share price leaps on $2.8 billion sale
• Why the Paradigm (ASX:PAR) share price is edging higher today
• Life360 (ASX:360) share price up 206% in last 12 months
• Why the Sayona Mining (ASX:SYA) share price is up 27% today and 750% in 2021

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 recommended Life360, Inc. 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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