The Wesfarmers Ltd (ASX: WES) share price closed 2% lower today despite a lift in retail trade figures for August.

Shares in the conglomerate that includes such retail names as Bunnings, K-Mart, and Officeworks finished the session at $43.15 apiece.

The S&P/ASX 200 (ASX: XJO) closed 0.53% lower while the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) was today’s third worst performing sector, losing 1.05%.

This is despite the Australian Bureau of Statistics (ABS) reporting a 0.6% increase in seasonally-adjusted retail trade figures today.

Let’s cover the highlights from the report.

What did the report say?

Overall, in-store and online retail sales lifted 0.6% month on month and 19.2% compared to August last year.

However, the ABS attributed most of the rise in retail spending to food-related industries. The Bureau’s head of retail statistics Ben Dorber said:

This month’s rise was driven by the combined increase in food related industries, with cafes, restaurants and takeaway food services up 1.3 per cent and food retailing up 1.1 per cent. While households continue to spend, non-food industry results were mixed and only contributed a small amount to the total rise in retail turnover.

In further bad news for Wesfarmers’ K-Mart and Target businesses, monthly turnover for clothing, footwear, and personal accessory retailing dropped 2.3%.

But on a positive note for its buoyant Bunnings brand, household goods retailing increased by 2.6%.

Some analysts are tipping today’s retail figures will spur the Reserve Bank of Australia to lift interest rates another 0.5% next month in its ongoing bid to curb inflation.

More bad news on the horizon

Certainly, consumer spending is widely anticipated to slow which could put further pressure on Wesfarmers shares, as reported by The Australian

A note by Commonwealth Bank of Australia (ASX: CBA) analysts said rate hikes and the end of fuel excise cuts will further contribute to the slowdown in consumer spending.

Analysts said:

We therefore think that retail spending will ease as the full impact of the RBAs rapid rate hikes of 225 basis points eventually feeds through to household balance sheets and the federal government’s fuel excise cut ends today, adding further pressure to consumer budgets.

Moody’s Analytics associate economist Gabriel Tay also believes rising interest rates could put a damper on sales despite the growth seen in a number of retail segments. He said:

We are only cautiously optimistic about retail sales growth till the end of 2022, as the Reserve Bank of Australia is pursuing the most aggressive monetary tightening cycle in its history to combat inflation.

Wesfarmers share price snapshot

The Wesfarmers share price is down 27% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 13% over the same period.

The company’s market capitalisation is around $49 billion.

The post Why did the Wesfarmers share price get walloped on Wednesday? appeared first on The Motley Fool Australia.

.

More reading

• What might the latest retail sales figures mean for ASX 200 consumer shares?
• Why is everyone talking about pricing power and which ASX shares have it?
• Can Wesfarmers shares ‘ride out pressures on household budgets’?
• 4 reasons I added Wesfarmers shares to my portfolio
• Experts name 2 top ASX dividend shares to buy next week

Motley Fool contributor Matthew Farley 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 Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/AUmyRKE

The FBR Ltd (ASX: FBR) share price bounced 10% on Wednesday after the company came out of a self-requested trading pause to respond to speculation of a potential capital raising or imminent takeover.

According to an article published on afr.com late last night, the bricklaying robotics company has recruited investment and advisory group Jarden Australia to set up meetings with fund managers.

According to the article, the purpose of the meetings is “to talk through the milestones FBR wants to hit over the next 12 months — binding orders for its robots, US and Europe expansion, and new hardware and software”.

The story speculated that this “informal roadshow” might imply that FBR is looking to boost its balance sheet with a capital raising.

Or perhaps Jarden is “angling for a defence mandate” in light of Australia’s biggest brickmaker, Brickworks Limited (ASX: BKW) buying up almost 12% of FBR shares in recent times. Maybe Brickworks is thinking about a takeover bid?

The ASX announced a temporary pause in trading for FBR shares one minute before the market open.

How did FBR and its share price respond?

FBR issued a statement at noon, saying:

The Company is currently planning to undertake a Non-Deal Roadshow following the release of its audited FY22 results.

As a developing company, FBR is periodically engaged in discussions with various parties in relation to strategic and capital raising opportunities however FBR can confirm there is no formal capital raising process currently under way and it has not formally engaged with financial advisers in relation to this.

The ASX share resumed trading shortly after its statement, with the share price leaping 10% to 4.4 cents. It then retreated to close at 4.1 cents, up 2.5% on Tuesday’s closing price.

Why is Brickworks interested in FBR?

As my Foolish colleague Tristan reported recently, FBR is designing, developing, building and operating an automated and stabilised bricklaying robot called Hadrian X.

According to FBR, Hadrian X “builds structural walls faster, safer, more accurately and with less wastage than traditional manual methods”.

So, you can understand why Brickworks is interested in the robot. It could potentially substantially lower costs for a company as large as them. And that would certainly come in handy right about now with global supply constraints causing major dramas and delays in construction.

At the time of Tristan’s report, the speculation was that Brickworks may aim to increase its shareholding to 20% and then attempt a takeover.

On 30 August, Brickworks paid about $6.5 million for more FBR shares, increasing its holding from 7.16% to 11.94%. On 11 August, Brickworks raised its holding from 5.05% to 7.16%.

Brickworks first became a substantial holder (above 5%) back in July when it did a deal with FBR for a $1.93 million share placement.

The placement followed FBR’s successful $4 million capital raising in June.

The post Guess which ASX share leapt 10% today amid renewed takeover rumours appeared first on The Motley Fool Australia.

.

More reading

• Leading brokers name 3 ASX shares to buy today
• Brokers name 3 ASX shares to buy today
• Brickworks has maintained or grown its dividend every year for 46 years. Here’s the latest
• Brickworks share price edges higher on $746 million profit result
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bronwyn Allen 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 Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/5UyP6xI

The A2 Milk Co Ltd (ASX: A2M) share price edged higher today despite the broader market falling wayside.

During the day, shares in the infant formula rose as high as $5.37 but whittled away as the day went on.

However, a strong last-minute finish saw A2 Milk shares close at $5.40, up 0.94%.

For context, the All Ordinaries Index (ASX: XAO) ended 0.55% lower to 6,659.8 points.

Let’s take a look at the recent share buyback that A2 Milk announced at its full-year results.

A2 Milk commences share buyback

Late last month, the company advised it was conducting a NZ$150 million (A$131 million) share buyback to increase shareholder value.

It was considered to be the most appropriate form of capital management amid COVID-19 related disruption and market headwinds.

The buyback programme is expected to commence towards the end of September 2022 and may run for up to 12 months.

A2 Milk noted that it may acquire shares through the NZX and ASX at the market price within the above period.

A maximum of around 37.18 million A2 Milk shares can be bought which represents no more than 5% of the company’s existing shares.

Traditionally, when a company looks to purchase its own stock, this pumps up the earnings per share (EPS) metric.

It also allows the company to take advantage of the share price weakness when it doesn’t reflect the underlying value of the business.

Furthermore, the value of each individual share also increases as there are fewer shares on the company’s registry.

The on-market buyback program does not require shareholder approval and will be executed at the company’s discretion.

A2 Milk share price snapshot

Despite the buyback announcement, it’s been a disappointing 12 months for the A2 Milk share price which has fallen 11%.

Year-to-date, its shares are down by 1%.

A2 Milk commands a market capitalisation of roughly $4.02 billion and has approximately 743.66 million shares outstanding.

The post A2 Milk share price lifts as buyback kicks off appeared first on The Motley Fool Australia.

.

More reading

• The A2 Milk share price has smashed the ASX 200 over the past month. What’s going on?
• Why this expert acquired a thirst for A2 Milk shares following the company’s latest results
• A2 Milk shares: Buy, hold, or fold?
• Could the A2 Milk share price be ready to leave the ‘doghouse’?
• Leading fund manager sees “material upside” to the a2 Milk share price

Motley Fool contributor Aaron Teboneras has positions in A2 Milk. 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 A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/ZQRqzAt

After a promising start to Wednesday’s trade, the S&P/ASX 200 Index (ASX: XJO) handed back its gains to slump lower. The index closed 0.53% lower at 6,462 points.

It followed another rough session on Wall Street. After falling into a bear market on Monday (Tuesday AEDT), the Dow Jones Industrial Average Index (DJX: .DJI) posted a 0.4% fall overnight. Meanwhile, the S&P 500 Index (SP: .INX) slumped 0.2% to its lowest close since November 2020.

Interestingly, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) dodged the suffering to gain 0.2%.

But that wasn’t enough to save the S&P/ASX 200 Information Technology Index (ASX: XIJ) from posting the biggest fall today. The tech sector slipped 1.6% on Wednesday.

Meanwhile the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) slumped 0.4% and the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) dumped 1% amid the latest Australian retail figures.

The Australian Bureau of Statistics found Aussies upped their spending another 0.6% in August, as food retailing climbed and most other retailing fell.

At the end of the day, only two ASX 200 sectors were trading in the green. But which shares outperformed? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top performer was none other than coal stock Coronado Global Resources Inc (ASX: CRN). It joined many of its ASX 200 coal producing peers in the green.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Coronado Global Resources Inc (ASX: CRN)	$1.61	5.92%
Ramelius Resources Limited (ASX: RMS)	$0.645	5.74%
Whitehaven Coal Ltd (ASX: WHC)	$8.78	3.91%
Incitec Pivot Ltd (ASX: IPL)	$3.50	3.55%
Silver Lake Resources Limited (ASX: SLR)	$1.065	3.4%
Clinuvel Pharmaceuticals Limited (ASX: CUV)	$17.66	3.21%
New Hope Corporation Limited (ASX: NHC)	$5.90	2.97%
AGL Energy Limited (ASX: AGL)	$6.60	2.96%
Telstra Corporation Ltd (ASX: TLS)	$3.82	2.69%
De Grey Mining Ltd (ASX: DEG)	$0.975	2.63%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

More reading

• Why Cogstate, Mayne Pharma, Race Oncology, and Whitehaven Coal are charging higher
• AGL share price rallies despite sustained pressure from $68 billion super fund
• Up 200% so far this year, is it too late to buy Whitehaven shares now?
• ‘Willingness to pay a premium’: ASX coal shares boom again on Wednesday
• Up 165% so far in 2022, is the party just kicking off for New Hope shares?

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 positions in 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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/ULPD5kW

A number of S&P/ASX 200 Index (ASX: XJO) consumer shares have seen plenty of volatility this year.

Certainly, the share prices of many ASX retailers have dropped during 2022.

For instance, in the ASX 200, the Wesfarmers Ltd (ASX: WES) share price has fallen 28% this year so far while the Harvey Norman Holdings Limited (ASX: HVN) share price has fallen 19%. Over the same period, the JB Hi-Fi Limited (ASX: JBH) share price has declined 21%, Coles Group Ltd (ASX: COL) has dropped 7% — and is down 14% since 22 August — and the Woolworths Group Ltd (ASX: WOW) share price is down 10%. The list of woe goes on.

So, with all of that pain, you’d think retail sales are plummeting. Not so.

Retail sales grow in August

The Australian Bureau of Statistics (ABS) has reported that seasonally adjusted retail sales for August 2022 rose by 0.6% month over month and were up 19.2% compared to August 2021.

Interestingly, there was quite a mixture of performance when it came to different retail segments.

Month over month, food retail sales increased 1.1%; household goods retailing rose 2.6%; clothing, footwear, and personal accessory sales fell 2.3%, department stores rose 2.8%; ‘other retailing’ decreased 2.5%; while cafes, restaurants, and takeaway food services saw a 1.3% rise.

Bloomberg reporting suggests this is going to mean another 0.5% increase in interest rates by the Reserve Bank of Australia (RBA):

The resilience in consumer spending is likely to bolster expectations the Reserve Bank will raise rates by a half-percentage-point for a fifth straight month on Tuesday to take the cash rate to 2.85%. The RBA has signaled further hikes ahead, prompting money markets to price in a rate of about 3.4% by year’s end.

The RBA maintains that households are in a solid position to weather higher borrowing costs, having used pandemic-era stimulus to build up their savings or make early repayments on their mortgages.

In addition, unemployment of just 3.5% means most Australians have an income to meet their obligations.

While the month-over-month increase indicates that the RBA has more work to do, I think that the year-over-year increase is a positive sign that ASX 200 retail shares can report growth for the first half of FY23. That’s because we are currently cyclical against lockdowns for NSW and Victoria in the first half of FY22.

Are higher interest rates having no effect?

While retail sales are still increasing, there may be signs that the RBA’s efforts could be starting to work.

According to reporting by The Australian, Moody’s thought that monthly retail sales were going to grow by 1.5% in August. It pointed out that food-related industries were important drivers of the monthly numbers, but some of the increase may have been due to food inflation “giving retail value figures an artificial boost”.

But, there is still evidence of strong consumer spending growth, with retail sales in department stores and household goods both growing at least 2.6%.

So, Australia’s retail figures continue to grow. This is positive for ASX 200 retail share revenue as a whole, but it also gives the RBA more impetus to keep raising interest rates to slow the economy.

The post What might the latest retail sales figures mean for ASX 200 consumer shares? appeared first on The Motley Fool Australia.

More reading

• The Coles dividend is hitting bank accounts today. Here’s what you need to know
• Why is everyone talking about pricing power and which ASX shares have it?
• Broker names 2 ASX dividend shares to buy with ~7% yields
• Market volatility getting you down? Analysts name 2 defensive ASX 200 shares to buy
• Own Woolworths shares? Here’s some good news about your dividends

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 Harvey Norman Holdings Ltd. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET, Harvey Norman Holdings Ltd., and Wesfarmers Limited. The Motley Fool Australia has recommended JB Hi-Fi Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/vt34ZT9

It’s been years since those invested in S&P/ASX 200 Index (ASX: XJO) travel giant Flight Centre Travel Group Ltd (ASX: FLT) shares have received a dividend from the company.

That’s despite its ASX 200 peer Corporate Travel Management Ltd (ASX: CTD) offering investors a 5-cent per share final payout for financial year 2022.

But there’s a good reason Flight Centre isn’t offering payouts just yet. The travel agent hasn’t posted a half year’s profit since 2019 after the pandemic took its toll on the travel industry. Thus, it can’t hand out a portion of its profits in the form of dividends.

And the company’s stock has dived alongside its earnings. The Flight Centre share price is currently $15.01. That’s around 60% lower than it was at the end of 2019.

So, when might investors see a dividend from the ASX 200 travel share? Let’s take a look.

When are Flight Centre shares expected to pay a dividend?

Flight Centre shares might not be on the cusp of paying a long-awaited dividend, but patient investors will likely be rewarded in the coming years.

The company’s leisure and corporate businesses both returned to profitability in the second half of financial year 2022. But that wasn’t enough to stop Flight Centre from posting a full-year loss of $272.6 million.

And while its recovery is said to be outpacing that of the industry, the company isn’t expecting to turn things around in financial year 2023.

Though, it does believe it will be tracking close to its monthly pre-COVID total transaction levels by the end of this fiscal year.

Following the release of the company’s expectations, Goldman Sachs voiced its expectations for Flight Centre’s shares to return to dividends.

The broker predicts the company could offer investors a payout in financial year 2024, as my Fool colleague James reports.

If such tips come true, the stock could end up going five years without paying a dividend following the onset of the pandemic.

The post Could dividends be back on the cards for Flight Centre shares soon? appeared first on The Motley Fool Australia.

More reading

• Flight Centre share price tumbles to new 52-week low on Monday
• These are the 10 most shorted ASX shares
• Could this be good news for Flight Centre shares?
• Here are the 10 most shorted ASX shares
• Here’s why the Flight Centre share price isn’t all that it seems

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 recommended Corporate Travel Management Limited and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/ZqGbAht

The Northern Star Resources Ltd (ASX: NST) share price is gaining ground over the ASX 200 on Wednesday.

At the time of writing, shares in Australia’s second-largest gold miner are up 0.56% to $7.15.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is in the red by 0.82% to 6,443.2 points.

Let’s take a look at why Northern Star shares are beating the ASX 200 today.

What’s going on with Northern Star shares?

Investors are bidding up the Northern Star share price after falling to a 2-month low of $6.93 yesterday.

Gold prices have tumbled in the past couple of weeks, hitting a low of around US$1,620 per ounce.

This is a big difference to when the yellow metal was trading above US$2,000 in March when Russia invaded Ukraine.

With the US Fed Reserve raising interest rates aggressively to combat inflation, this put pressure on the gold price.

Consequently, investors traditionally rush to US government bonds as they are considered a safe investment class. Currently, the US two-year treasury bond is swapping hands at a 15-year high of 4.23%.

However, with Northern Star shares trading at attractive levels, it appears investors are seizing up the buying opportunity.

In addition, the company commenced its $300 million share buyback on 15 September which is also likely providing support.

While Northern Star shares are remaining stable for now, it is relatively dependent on the US Fed’s next move.

The central bank is next due to meet at the start of November to decide upon if interest rates will rise again.

Of course, this will be based upon the economic data and inflation numbers that flow through from now until then.

Northern Star share price summary

After sinking 7% in a week, the Northern Star share price is down by 24% in 2022.

This means it’s almost 60% off the all-time high of $17.03 achieved on 9 November 2020.

Based on today’s price, Northern Star commands a market capitalisation of approximately $8.28 billion.

The post Here’s why the Northern Star share price is staging a partial rebound appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Monday
• Why is the De Grey share price struggling this week?
• Gold just hit a 2-year low. What could this mean for the Northern Star share price?
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Aaron Teboneras has positions in Northern Star Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/b3x82DO

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and $43.00 price target on this gaming technology company’s shares. This follows the company’s latest investor roundtable event. Goldman was pleased with what it heard and came away from the event feeling confident that Aristocrat is largely on track to achieve its expectations in the second half. The Aristocrat share price is trading at $32.99 on Wednesday.

BHP Group Ltd (ASX: BHP)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $44.00. Macquarie has upgraded its earnings estimates through to FY 2026 by approximately 5% per annum to reflect stronger thermal coal prices. This is being driven by supply constraints and global energy security risks. The BHP share price is fetching $37.23 today.

Superloop Ltd (ASX: SLC)

Analysts at Morgans have retained their add rating and $1.00 price target on this telco’s shares. This follows news that Superloop has signed an agreement to acquire VostroNet. Morgans views this as a strategically and financially attractive deal. It highlights that it will bolster the company’s existing student accommodation business, adds multi-dwelling units, and leverages its infrastructure assets. The Superloop share price is trading at 69 cents on Wednesday afternoon.

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

More reading

• ‘Willingness to pay a premium’: ASX coal shares boom again on Wednesday
• Why is the BHP share price outperforming the ASX 200 today?
• Morgans names the best ASX mining shares to buy
• Here’s why experts are tipping these ASX shares as buys for October
• ASX 200 iron ore miners rally as market rebounds on Tuesday

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 positions in and has recommended SUPERLOOP FPO. 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.

from The Motley Fool Australia https://ift.tt/kZHP4w9

The Singapore Telecommunications Limited (SGX: Z74), or Singtel, share price is feeling some shockwaves in the wake of Optus announcing it had been hacked.

Singtel shares dipped 1.12% the day after its subsidiary Optus made the announcement on Thursday last week.

In total, the Singtel share price has dropped 2.24% since then, currently fetching SGD$2.62 at the time of writing.

Let’s cover how Singtel’s share price reacted to developments in the Optus breach story and the key highlights.

The attack

My Fool colleague Bernd notes that hackers stole personal information from 9.8 million Optus customers in the attack. The information divulged included dates of birth, names, and potentially details from identification documents such as passports and driver’s licences.

Some sensitive information was said to be spared in the breach, including payment details and user account passwords.

Since the attack, the hacking group has demanded a $1 million ransom not to publish all of the stolen data. To get Singtel to comply with its demands, it released 10,000 customer records, and the group said it would publish a total of 40,000 more records on Tuesday if the ransom went unpaid.

Amid The Guardian reporting news of the demand yesterday, Singtel shares have dipped 0.76% today.

And a regrettable ransom?

However, my colleague Brooke notes that the group may be regretting its act of blackmail. It’s reported an alleged spokesperson from the group said “[they] don’t care anymore” and that it was a “mistake” to publish the stolen records.

If there’s no more release of Optus stolen data, it may relieve Singtel investors’ fears that the worst of the attack is over.

Singtel acquired Optus in August 2001 and traded on the ASX until 2005. Optus brought in $776 million of cash flow to Singtel over the 12 months ended 31 March 2022.

The post How has the Singtel share price responded to the Optus data breach? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why Cedar Woods, Core Lithium, Myer, and Telix shares are sinking
• Want to compound your Rio Tinto dividends? Here’s what you need to know
• Why Cogstate, Mayne Pharma, Race Oncology, and Whitehaven Coal are charging higher
• ASX lithium share QX Resources soars 70% on ex-Lake Resources MD appointment

Motley Fool contributor Matthew Farley 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.

from The Motley Fool Australia https://ift.tt/7bL1scI

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day deep in the red. At the time of writing, the benchmark index is down 0.75% to 6,447 points.

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

Cedar Woods Properties Limited (ASX: CWP)

The Cedar Woods share price is down 8% to $3.96. This has been driven largely by the property company’s shares trading ex-dividend this morning for its latest dividend. Eligible shareholders can now look forward to receiving Cedar Woods’ 14.5 cents per share dividend next month on 28 October.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has continued its slide and is down a further 6% to $1.12. Investors have been selling this lithium developer’s shares despite the release of a positive business update this week. Not even a bullish note out of Macquarie has been able to stop its shares from falling. Macquarie has an outperform rating and $1.80 price target on its shares.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is down over 2.5% to 56.5 cents. This has also been driven by this department store operator’s shares trading ex-dividend this morning. Eligible Myer shareholders will be paid the company’s fully franked 2.5 cents per share final dividend on 7 November.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price has sunk 19% to $4.38. This morning this biopharmaceutical company revealed that it has withdrawn its marketing authorisation application in Europe for its investigational product Illuccix. This followed a late request for more data from regulators that could not be fulfilled.

The post Why Cedar Woods, Core Lithium, Myer, and Telix shares are sinking appeared first on The Motley Fool Australia.

More reading

• Why is the Core Lithium share price sinking 9% today?
• September living up to its ‘worst month of the year’ reputation as ASX 200 finally cracks
• Telix share price sinks 12% on European blow
• Why Core Lithium, Ramsay, Synlait Milk, and Virgin Money shares are dropping
• Core Lithium share price falls despite business update

Motley Fool contributor James Mickleboro has positions in TELIXPHARM DEF SET. 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.

from The Motley Fool Australia https://ift.tt/oGUtWlT