The Sandfire Resources Ltd (ASX: SFR) share price was a positive performer on Wednesday.

The copper miner’s shares ended the day almost 3% higher at $5.77.

This compares favourably to the ASX 200 index, which closed the day almost 0.9% higher at 7,015.6 points.

Can the Sandfire share price keep rising?

One leading broker that believes this copper miner’s shares have plenty left in the tank is Morgans.

According to a note from the start of this month, the broker has put an add rating and $6.50 price target on its shares.

Based on the current Sandfire share price, this implies potential upside of almost 13% over the next 12 months.

Past the point of peak investor concern

While Morgans acknowledges that things have been tricky for Sandfire over the last 12 months, it believes the worst is now behind it. The broker commented:

SFR has been a complex proposition as it navigates major change to its production base/geographic exposure, balance sheet and share register. The halving in European power prices (from peak), strong execution at Motheo (mitigating ‘Africa risk’) and the shoring up of the balance sheet suggests SFR is well past the point of peak investor concern, reflected in recent strength.

Another positive, according to Morgans, is that the ASX 200 index will soon lose a fellow copper miner, OZ Minerals Limited (ASX: OZL). It is in the process of being acquired by BHP Group Ltd (ASX: BHP).

If this deal completes, it will leave Sandfire as the only major copper producer on the ASX 200 index. It suspects that this could lead to “the likely re-cycling of copper hungry funds out of OZL by mid-year – support ongoing interest/ price performance in SFR.”

A final positive is that with the broker forecasting an improvement in margins in the near future, it believes that dividends could be back on the menu soon. It adds:

We forecast growth in MATSA’s margins into FY24 and in group EBITDA through to FY25, supporting incremental de-gearing and the ability to re-consider dividends from FY24.

All in all, the broker appears to believe this makes the Sandfire share price good value at current levels.

The post Here’s what Morgans is saying about the Sandfire share price appeared first on The Motley Fool Australia.

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More reading

• 3 top ASX mining shares I’d buy right now
• Here are the top 10 ASX 200 shares today
• 3 ‘quality’ ASX shares to buy now before they rocket: experts
• Sandfire share price slides as profits turn to losses

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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The Xero Limited (ASX: XRO) share price has seen plenty of pain since inflation and interest rates went crazy. It’s still down more than 40% compared to its November 2021 price.

However, in the last 12 months, Xero shares are only down by 9%. The company’s share price has been rising in recent weeks as the business revealed its plans to become more profitable. That’s one of the main reasons why I think Xero shares can do better than the market this year, next year, and beyond.

Rising profit margins

One of the big things that many investors are typically hoping for is profit growth from their investments.

Xero has made very little profit since it listed on the ASX. For a long time, the ASX tech share hasn’t been bothered about trying to make a profit. It has focused on long-term growth and global expansion. And that has been a worthwhile activity.

But, while Xero has been achieving a strong gross profit margin for some time, it also wants to improve its operating profit margins as well.

Earlier in March, the company announced a plan to reduce costs and drive “disciplined growth”. This will involve reducing its job count by between 700 to 800 roles.

In FY23, it’s expecting its operating expenses as a percentage of operating revenue to be “towards the lower end of a range” between 80% to 85%. That excludes restructuring charges associated with the program of between $25 million to $35 million.

Management is targeting an operating expense-to-revenue ratio in FY24 of around 75%. With that in mind, FY24 could show a big improvement in profit.

I think that a demonstration of improving profitability will encourage investors and send the Xero share price even higher.

Strong revenue growth

I also think one of the biggest drivers of the Xero share price will be its ability to keep growing revenue.

Increasing scale can have such a positive effect on a business with a gross profit margin of around 87%.

In the FY23 first half, it saw operating revenue increase by 30% to $658.5 million. This was partly driven by a 16% increase in total subscribers to 3.5 million, while average revenue per user (ARPU) grew by 13% to $35.30.

It helps that the business has been able to increase subscription prices. In November 2022, it reported that its annualised monthly recurring revenue (AMRR) had grown 31% year over year to $1.48 billion. This suggests that some revenue growth is already locked in for the next result.

The global economy is a big place for the ASX tech share to expand into. Indeed, there are still many more businesses in Australia, the UK, South Africa, and so on that could go digital.

High levels of customer loyalty

However, I don’t think there’s much point in winning lots of subscribers if the business loses them quickly afterwards — that’s essentially a waste of marketing resources.

But, if a business has a high retention rate, then that bodes well. If a company had a retention rate of 80%, meaning it loses 20% of its customers in a year, it would need to replace the equivalent of its whole customer base after five years. A retention rate of 90% would mean losing 10% of its customer base, so it’d have to replace its customer base every 10 years.

In the FY23 half-year result, Xero said its retention rate was over 99%.

This high level of customer loyalty means Xero’s customers seem to love its software, and that Xero can implement profit-boosting price increases with little negative effect.

Xero share price snapshot

Since the start of the year, the Xero share price has risen by 28% and I think it can comfortably beat the market from here to the end of 2024 because of all the factors above.

The post 3 reasons why I think the Xero share price is a top buy today appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 5 of the best ASX tech shares to buy now
• Brokers name 3 ASX shares to buy now
• 3 ASX All Ords tech shares rebounding strongly from the SVB fallout (and 2 still tumbling)
• If I’d invested $5,000 in Xero shares a week ago, here’s how much I’d have now!
• Top ASX 200 tech shares to buy right now: Morgans

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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There are plenty of ASX dividend shares to choose from on the Australian share market.

Two that have been given the approval from brokers are listed below. Here’s what you need to know:

Centuria Industrial Reit (ASX: CIP)

The first ASX dividend share to consider is Centuria Industrial.

It is an industrial-focused property company that owns a portfolio of high quality industrial assets. This comprises 88 high-quality, fit-for-purpose industrial assets worth a total of $3.9 billion. These assets are situated in key in-fill locations and close to key infrastructure.

One top broker that is a fan of Centuria Industrial is UBS. It likes the company due to its exposure to the logistics sub-sector and suspects it could help it outperform guidance in FY 2023.

As for dividends, the broker is forecasting dividends per share of 16 cents in FY 2023 and FY 2024. Based on the current Centuria Industrial share price of $3.03, this represents yields of 5.3% in both financial years.

UBS also sees plenty of upside for its shares with its buy rating and $3.68 price target.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share to look at is property company HomeCo Daily Needs. It is focused on convenience-based assets across the target sub-sectors of Neighbourhood Retail, Large Format Retail and Health & Services.

The team at Morgans is positive on the company. It highlights that HomeCo Daily Needs has a significant development pipeline valued at over $500 million and expects this to be supportive of solid growth in the future.

In respect to dividends, Morgans is forecasting dividends per share of 8.3 cents in FY 2023 and 8.4 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.20, this will mean dividend yields of 6.9% and 7%, respectively.

Morgans has an add rating and $1.50 price target on its shares.

The post Get a passive income boost with these ASX dividend shares: experts appeared first on The Motley Fool Australia.

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More reading

• Buy NAB and this ASX passive income share: analysts
• ASX investors: How to earn $533 each month in passive income
• My 3 best forms of passive income for 2023
• Experts name 2 ASX All Ords shares to buy after their excellent results
• These excellent ASX dividend shares are buys: Morgans

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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The Zip Co Ltd (ASX: ZIP) share price is storming ahead on the market today.

Zip shares are currently up 7.29%, trading at 51.5 cents a share. For perspective, the S&P/ASX 200 (ASX: XJO) is 0.92% in the green today.

Let’s take a look at what could be lifting the Zip share price.

What’s going on?

Zip is not the only ASX buy now, pay later (BNPL) charging higher today. The Block Inc (ASX: SQ2) share price is 4.11% higher, while Sezzle Inc (ASX: SZL) shares are gaining 4.72%.

ASX BNPL shares appear to be following in the footsteps of their United States counterparts. Overnight, Affirm Holdings Inc (NASDAQ: AFRM) shares surged 13.02% on the NASDAQ, while Block’s New York Stock Exchange listing Block Inc (NYSE: SQ) jumped 3.97%. Paypal Holdings Inc (NASDAQ: PYPL) shares also rose 4.79%.

ASX financial shares are having a good day on Wednesday, with the S&P/ASX 200 Financials Index (ASX: XFJ) up 1.15%.

This follows a surge in bank stocks overnight ahead of the US Federal Reserve’s decision on interest rates, due on Wednesday US time (early Thursday morning Australian time). The US S&P 500 Index lifted 1.3%.

Standard Chartered head of G10 FX research Steve Englander, cited by Reuters, said:

The banking sector’s near-death experience over the last two weeks is likely to make Fed officials more measured in their stance on the pace of hikes.

Meanwhile, Zip co-founder Peter Gray recently revealed the company has a “very strong platform” to accelerate, during an interview with my Foolish colleague James. He said, “We remain confident that we have sufficient liquidity and funding to see us through to group positive cash EBTDA during H1 FY24.”

Broker Shaw and Partners has recently reiterated a buy rating on Zip shares with a $2.02 price target.

Zip share price snapshot

The Zip share price has fallen 66.3% in the last year. However, it has lifted 7.29% in the last week.

Zip has a market capitalisation of about $394 million based on the current share price.

The post Why is the Zip share price soaring 7% today? appeared first on The Motley Fool Australia.

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More reading

• Why New Hope, Pilbara Minerals, Westpac, and Zip shares are pushing higher
• Here are the 10 most shorted ASX shares this week
• ‘Very strong platform to accelerate’: Has the Zip share price been oversold?
• 3 ASX All Ords tech shares rebounding strongly from the SVB fallout (and 2 still tumbling)
• Zip ‘is resilient and stands up well’

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Affirm, Block, PayPal, and Zip Co. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended PayPal. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Shares in National Australia Bank Ltd (ASX: NAB) are shimmering a pleasant shade of green on Wednesday.

Their positive move mirrors the reception US bank stocks received during trade on Wall Street overnight, as fears of more bank runs temper. Deposit outflows from regional banks are believed to be ‘stabilising’, thanks to the US Federal Reserve’s freshly instituted lending facilities.

However, the fate of Credit Suisse — formerly Switzerland’s second-largest bank — has already been sealed. After succumbing to a liquidity crunch, Credit Suisse is now being engulfed by the larger Swiss investment bank, UBS, for 3 billion Swiss Francs (A$4.8 billion).

Now, a handful of people are ruminating on the future of Credit Suisse’s private banking arm in Australia.

Could NAB take a bite of the fallen giant?

The dust has hardly settled on UBS’s takeover of Credit Suisse and already there are more questions than answers. One of which is: what will happen to the bank’s operations in Australia?

It is uncertain whether UBS will retain all of the baggage that comes along with the deal. Some are speculating that sales could be made to fortify the merged business. Especially in Australia due to UBS already holding a prominent position in the market.

In an interview with The Australian, NAB private wealth executive Michael Saadie suggested that a deal for the local private bank arm of Credit Suisse isn’t out of the question. In fact, Saadie implied it would be ignorant to not consider it, stating:

If they were put on the market, it would be remiss of me and the leadership team not to be lifting the bonnet on it. I can’t really comment but they’re [Credit Suisse’s Australian private bank] the sorts of opportunities that I think all players would have to have a look at.

Credit Suisse wouldn’t be the first acquisition of a foreign bank’s Australian operations if it were to eventuate. In June 2022, the Aussie banking major added Citigroup’s consumer business for $1.2 billion, sending NAB shares higher on the day.

It is believed the Swiss bank held an estimated $28 billion of assets under advice in Australia. However, that figure may have altered as some clients look to take their money elsewhere amid the turbulence.

How are NAB shares travelling so far this year?

The big four bank constituent is down 3.7% since the start of 2023, making it the second worst-performing member of the bunch. The only major with a more disappointing return so far is Westpac Banking Corp (ASX: WBC), which is down 4.8%.

However, NAB’s first-quarter update in February was rather positive. The release showed cash earnings had grown 18.7% and the bank’s net interest margin inched another 12 basis points higher to 1.79%.

The post Could owning NAB shares soon include a slice of Credit Suisse? appeared first on The Motley Fool Australia.

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More reading

• Online trading in these ASX 200 bank stocks is surging. Here’s why
• Which ASX 200 big four bank share could be the safest to hold?
• ASX 200 bank shares shrug off global banking turmoil to leap higher
• Why I’d be happy to invest in these ASX 200 bank shares today
• ASX 200 bank stocks lift after Credit Suisse share price soars 19%

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 has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Next week, the latest Fortescue Metals Group Ltd (ASX: FMG) dividend will be paid to eligible shareholders.

When the mining giant released its half-year results last month, it reported a 4.7% decline in net profit after tax to US$2.37 billion. This was driven by weaker iron ore prices, which offset record half-year iron ore shipments.

In light of its softer profits, the Fortescue board elected to cut its interim dividend by 12.8% to 75 Australian cents per share. It is this dividend that will be hitting shareholder bank accounts next Wednesday.

What’s next for the Fortescue dividend?

According to a note out of Goldman Sachs, it expects strengthening iron ore prices to be supportive of a bigger final dividend.

The broker expects a full-year fully franked dividend of US$1.18 (A$1.76) per share in FY 2023. This implies a final dividend of A$1.01 per share.

And based on the current Fortescue share price of $20.93, this equates a generous 8.4% dividend yield for investors.

What about FY 2024?

Unfortunately, it appears that the good times could soon be coming to an end for the Fortescue dividend due to its decarbonisation plans.

With Fortescue planning to spend billions on its Fortescue Future Industries business, this is expected to eat into its free cash flow and put pressure on its dividend payments.

For example, Goldman Sachs expects the Fortescue dividend to more than halve in FY 2024 to 62 US cents (93 Australian cents) per share. This will mean a more modest fully franked yield of 4.4% for investors if Goldman’s forecast proves accurate.

It is partly because of this that Goldman Sachs currently has a sell rating and $15.50 price target on its shares. This suggests potential downside of 26% over the next 12 months.

The post How big will the Fortescue dividend be in 2024? appeared first on The Motley Fool Australia.

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• Guess which ASX All Ords mining share Fortescue’s Twiggy Forrest is eyeing off for $760m
• Is the Fortescue share price a buy at $21?
• How to generate $10,000 of passive income from Fortescue shares
• Is it time to buy ASX 200 iron ore shares right now?
• Fortescue share price marching higher as green hydrogen plans heat 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. 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 Scott Phillips.

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The Qantas Airways Limited (ASX: QAN) share price is in the air on Wednesday amid the company’s latest update – and, boy, is it a milestone one.

After returning to profit last half, the national carrier is setting its sights on a COVID recovery in the April quarter. That’s when its Australian capacity is expected to finally surpass 2019 levels. And that’s just the start.

The Qantas share price is up 1.03% right now, trading at $6.395. That’s more than 170% higher than it was when it found itself in the pits of pandemic despair almost three years ago to the day.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.96% at the time of writing.

Let’s take a look at the steps the now-profitably airline is taking to grow.

All aboard! Qantas eyes major capacity growth

Owners of Qantas shares, rejoice! The airline is on an upwards trajectory and flying on schedule.

Its latest industry update comes just weeks after the flying kangaroo posted a $1 billion profit for the six months ended December. It also reduced its debt levels by $1.5 billion over the half, ending the period at $2.4 billion.

Turning to 2023, Qantas said it recorded the most on-time arrivals of any Australian airline in February.

That’s after the airline saw just 18.3% of flights arriving late in January, according to Australian Competition & Consumer Commission (ACCC) data, compared to peers Virgin Australia – 26.2% of flights arrived late – and Regional Express Holdings Ltd (ASX: REX) – 18.9% of flights ran late. Though, Qantas’ budget leg Jetstar saw 34.6% of its January flights arriving later than scheduled.

Such recent “strong operational performance” means Qantas is confident to launch more planes, according to today’s release.

The group expects its domestic capacity to reach 102% in the April quarter. That’s up from 98% in the current quarter. Meanwhile, it will expand many of its international services next week.

Looking further ahead, it plans to grow its domestic and international flying capacity by around 15% over the next six months.

Not to mention, Qantas and Jetstar are expecting to fly “several million” travellers in the Easter school holiday period, with more than 700,000 flying over the long weekend.  

Australian flight prices ease from record highs

All that comes as ACCC data finds the cost of flying has eased from record highs posted in December amid lower jet fuel prices.

Australian discount fares fell 34% in January, but average revenue per passenger remained 13% higher than pre-pandemic levels.

Qantas share price outperforms ASX 200

The Qantas share price has outperformed in recent months, gaining 7.4% year to date. It’s also 27.1% higher than it was this time last year.

Comparatively, the ASX 200 has gained 1% since its first close of 2023 and has fallen 4.4% over the last 12 months.

The post Refuelled with profits, how ASX 200 favourite Qantas plans to stick the landing on growth appeared first on The Motley Fool Australia.

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More reading

• Why Adairs, Liontown, Qantas, and Synlait shares are dropping today
• Qantas share price takes a dive amid more takeover delays
• Top brokers name 3 ASX shares to buy next week
• What’s with the Qantas share price on Thursday?
• 7 ASX shares flying under the radar to buy now: Goldman Sachs

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 Scott Phillips.

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If you’re not keen on stock picking in the current environment of heightened volatility, then exchange traded funds (ETFs) could be a good alternative.

That’s because ETFs allow investors to buy large groups of shares through a single investment.

But which ETFs could be worth considering right now? Two quality ETFs that might be considered safe options for investors are listed below. Here’s what you need to know about them:

iShares Global Consumer Staples ETF (ASX: IXI)

The first ETF for investors to look at is the iShares Global Consumer Staples ETF.

As its name indicates, this ETF provides investors access to a large group of consumer staple companies. These companies could be great for investors with a lower risk appetite.

That’s because consumer staples companies provide products that are in demand with consumers whatever happens in the economy. This means they are likely to continue growing through most cycles. They also tend to have strong pricing power, which offers some protection from inflation.

Among the ETF’s holdings are many of the world’s largest global consumer staples companies such as Coca-Cola Company, Nestle, PepsiCo, Procter & Gamble, Unilever, and Walmart.

iShares S&P 500 ETF (ASX: IVV)

Another ETF for investors to look at right now is the iShares S&P 500 ETF.

It is a case of safety in numbers with this ETF. That’s because it gives investors easy access to 500 of the top listed companies in the United States.

This means you’ll be buying a slice of a diverse group of shares from different industries and sectors.

Among its holdings are household names such as Amazon, Apple, Disney, Facebook, JP Morgan, Johnson & Johnson, Microsoft, Tesla, and Visa.

The post 2 safe ETFs for ASX investors to buy amid the market volatility appeared first on The Motley Fool Australia.

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• 3 reasons not investing at all could be riskier than trying to invest
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• Here’s how I would secure monthly dividends in the 2024 financial year with these ASX stocks
• S&P 500 could rally for next 8 weeks: Wall Street analysts
• I’d invest $20 a week the Warren Buffett way as I aim to build wealth

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended iShares International Equity ETFs – iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended iShares S&p 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) gold stocks have been unusually volatile over the past week and a half.

The big Aussie gold miners are enjoying some outsized gains one day, only to fall sharply the next.

And then repeat the pattern again.

Today, it’s another down day after some sizzling gains on Monday and a mixed performance yesterday.

Here’s how some of the leading ASX 200 gold stocks are tracking in early afternoon trade today:

• Northern Star Resources Ltd (ASX: NST) shares are down 3.7%
• Newcrest Mining Ltd (ASX: NCM) shares are down 1.9%
• Evolution Mining Ltd (ASX: EVN) shares are down 2.8%
• Gold Road Resources Ltd (ASX: GOR) shares are down 4.9%

So, why are ASX 200 gold stocks on a rollercoaster of late?

ASX 200 gold stocks rocked by shifting global sentiment

While a lot of factors impact their performance, the gold miners tend to see their share prices go up and down with any big moves higher or lower in the gold price.

Investor expectations of how bullion will track into the future also play an important role.

The gold price tends to do well amid rising uncertainty and fear, which sees an increase in demand for gold due to its historic haven status.

Gold enjoyed some big price increases amid the banking crisis unfolding in the United States and Europe.

The day before news hit the wires that Silicon Valley Bank was teetering on the brink of collapse, gold was trading for US$1,814 per ounce (on 9 March). That’s 7% below today’s level.

Gold, and ASX 200 gold stocks, also moved higher when the banking crisis spread to Europe, pushing Credit Suisse to the brink.

But good news tends to placate investor fears and pressure the gold price.

Hence, bullion dropped on news that the Federal Reserve is providing billions of dollars in funds to support US banks.

Gold also dropped lower after the Swiss government engineered the UBS takeover of Credit Suisse.

Today, ASX 200 gold stocks are in the red largely because the gold price tumbled 2.0% overnight to US$1,944 per troy ounce.

This comes as optimism is running high that the worst of the European and US banking crises may already be behind us.

The post Why are ASX 200 gold stocks on a rollercoaster lately? appeared first on The Motley Fool Australia.

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More reading

• Why ASX 200 gold shares could see the yellow metal hit new record highs: expert
• 5 things to watch on the ASX 200 on Wednesday
• Why A2 Milk, Accent, Northern Star, and Select Harvests shares are dropping
• ‘Increasing demand’: Expert picks 2 ASX 200 mining shares to buy (not BHP)
• 5 things to watch on the ASX 200 on Tuesday

SVB Financial provides credit and banking services to The Motley Fool. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SVB Financial. The Motley Fool Australia has recommended SVB Financial. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 1% to 7,022.9 points.

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

Latitude Group Holdings Ltd (ASX: LFS)

The Latitude share price is down 6% to $1.13. Investors have been selling this lender’s shares after reporting a cybersecurity incident. This has led to over 300,000 customer documents being accessed, which includes approximately 100,000 copies of driving licences.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is down 9.5% to 91 cents. This has been driven by the department store operator’s shares trading ex-dividend today. Earlier this month, Myer released its interim results and reported the doubling of its profits. This allowed the Myer board to declare total dividends of 8 cents per share. This comprises a fully franked 4 cents per share dividend and a special fully franked 4 cents per share dividend.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 5.5% to $1.78. Investors have been selling Regis Resources and other ASX gold mining shares today after the spot gold price pulled back. This follows improvements in investor sentiment, which reduced demand for the safe haven asset. In addition, traders may be concerned that the US Federal Reserve will raise rates again tonight.

Service Stream Ltd (ASX: SSM)

The Service Stream share price is down over 2% to 66.5 cents. Like Myer, this has also been driven by its shares going ex-dividend today. Last month, the integrated services provider released its half-year results and declared a fully franked 0.5 cents per share dividend. This will be paid to eligible shareholders on 6 April.

The post Why Latitude, Myer, Regis Resources, and Service Stream shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Latitude shares are back on the ASX, but why are they falling 8% today?
• Why is the Myer share price crashing 10%?
• 4 ASX All Ordinaries shares trading ex-dividend on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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