The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is trading relatively in line with the broader market despite the bank’s latest push to fund Australia’s energy transition.

It’s extended a $200 million funding program with the government’s Clean Energy Finance Corporation (CEFC), offering businesses cheap loans to finance activities designed to reduce carbon emissions.

The ANZ share price is $22.90 at the time of writing. That’s 0.22% lower than it was at Friday’s close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.09%. Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFJ) has slumped by 0.11%.

Let’s take a closer look at today’s news from the smallest ‘big four’ bank.

ANZ to help provide cheap funding for decarbonisation

The ANZ share price appears unfazed by the ASX bank’s latest move to help drive Australia’s decarbonisation transition.

As part of its program with CEFC, ANZ business customers will be able to receive a 0.5% discount on loans of up to $5 million to fund investment in activities designed to cut their emissions.

Such investments could vary from renewable energy to recycling technologies or electric vehicles.

The two entities will each contribute a 0.25% discount to make up the offer.

ANZ managing director of commercial and private banking Isaac Rankin commented on today’s announcement, saying:

We are seeing many of our customers are changing the way their businesses operate, moving towards a more sustainable future. Whether it be an electric truck or solar panels, we want to give Australian businesses access to finance, services, and advice to invest in equipment which will help them shift to low carbon business models and operations that put them on a path to net zero emissions.

ANZ aims to be the leading Australian and New Zealand-based bank when it comes to supporting customers’ transition to net zero.

CEFC CEO Ian Learmonth also commented:

Small to medium businesses are a critical part of Australia’s economy. As the cost of energy and other inputs continues to rise, it is important to help them access the benefits that renewable energy, battery storage, and energy efficient equipment can deliver. 

ANZ share price snapshot

The ANZ share price has been underperforming in 2022 so far.

It has fallen 18% since the start of the year while the ASX 200 has exhibited an 8% tumble.

Over the past 12 months, the bank’s stock has plunged 20%. Meanwhile, the index has dumped 7%.

The post ANZ share price unfazed amid bank’s latest move to finance decarbonisation appeared first on The Motley Fool Australia.

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More reading

• Here is the RBA interest rate outlook according to ASX 200 banks
• Guess how much ANZ shares have paid in dividends over the last 5 years
• ANZ share price best of bad bunch after pocketing extra $2.3b
• How are ASX 200 bank shares responding to the RBA rate increase?
• Is the ANZ share price an ASX banking buy for the next 12 months?

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 7,017.1 points.

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

Appen Ltd (ASX: APX)

The Appen share price is up 10% to $4.84. This morning the artificial intelligence data services company was the subject of a mixed note out of Citi. The broker has looked at the result of rival Telus and suspects that Appen is losing market share. However, it also feels that Appen could still be a takeover target.

Imugene Limited (ASX: IMU)

The Imugene share price is up almost 8% to 28 cents. This follows the release of new data from the non-small cell lung cancer patients in the Phase I IMPRINTER trial at the IASLC 2022 World Conference on Lung Cancer. The clinical stage immuno-oncology company revealed that it is seeing positive signals with correlative biomarker data at an early stage in its PD1-Vaxx Phase I trial.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price has rocketed 35% higher to $25.55. This morning the copper miner revealed that it received and rejected a $25.00 per share non-binding takeover approach from mining giant BHP Group Ltd (ASX: BHP). The OZ Minerals board believes the offer undervalues the company.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is up over 10% to $1.90. This follows news that the company is planning to present data from the open-label phase 2 study of pentosan polysulfate sodium (PPS) for mucopolysaccharidosis type I (MPS-I) at the 2023 ICLD meeting. Management will also provide an update on the ongoing multi-centre double-blind randomised phase 2 study comparing PPS to placebo in mucopolysaccharidosis type VI (MPS-VI) patients.

The post Why Appen, Imugene, OZ Minerals, and Paradigm shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Appen share price jumping 10% on Monday?
• Why is the Paradigm Biopharmaceuticals share price up 12% on Monday?
• ASX copper shares explode by up to 34% following BHP takeover bid
• Why is the Copper Mountain share price surging 30% on Monday?
• The OZ Minerals share price is rocketing 35% after BHP bid

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 Appen Ltd. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Even with the current bear market and fears of a recession, that doesn’t mean you have to abandon stocks entirely, but you should reconsider which types of stocks you own. Small-cap stocks may offer higher return potential, but they’re also way more susceptible to volatility and carry more risk. Mid-cap stocks can often fill that sweet spot — small enough to have room for growth but large enough to weather periods of economic weakness.

Many things in life follow a high-risk, high-reward system but few more so than stock investing. There are no guaranteed returns, and there’s always a chance you could lose a lot of your investment over a short period of time. There are “safe” stocks that offer a greater degree of stability in the long run, but even then, historical performance does not guarantee future results.

Investments like bonds and certificates of deposit (CDs) typically carry less risk, but as a result, their returns may not even be high enough to keep up with inflation, much less provide decent long-term growth. Conventional investment wisdom tells us that in our younger years, we should be comfortable taking on more risk (investing in stocks) to grow our wealth rather than playing it safe (holding bonds, CDs, or cash) and risk falling short of our savings goals for retirement.

But this guidance only applies when you have time on your side to ride out market volatility. Unfortunately, that’s just not the case when you’re close to retirement. With so much uncertainty in the stock market and economy right now, if you have retirement on the horizon, here’s why it’s time to play defense.

You don’t have to ditch stocks

A few decades later, with retirement on the horizon, the above scenario may pose more risk than they want to take on. Instead, their portfolio has gradually evolved with the allocations below:

But as you near retirement, you typically want small-cap and mid-cap stocks to make up less of your portfolio, instead letting large-cap and blue-chip stocks lead the way. Large-cap stocks will be even more stable than mid-cap companies, though that comes at the cost of reduced growth potential. Blue-chip stocks are well established, household names that have stood the test of time as leaders in their industries.

How your stock portfolio might be broken down

You want your overall investment portfolio to become more conservative as you near retirement — more bonds, CDs, cash, etc. — but you want to reallocate the stock portion of your portfolio as well. Remember, though: Just because your focus switches to defense doesn’t mean you have to quit playing offense altogether. To illustrate, someone in their 30s might break down their stock holdings as follows:

• Large cap: 50%
• Mid cap: 15%
• Small cap: 15%
• International: 20%
• Large cap: 70%
• Mid cap: 5%
• Small cap: 5%
• International: 20%

That’s just enough exposure to small-cap and mid-cap stocks that they reap some of the benefits from the greater growth potential, but it’s also small enough that in a down market like the one we’re experiencing in 2022, any losses are unlikely to have an outsized impact on their portfolio or set their retirement plans back tremendously. Any financial setback can be scary, but not all financial setbacks are created equal. By playing defense closer to retirement, you can help ensure your decades of hard work and saving aren’t thrown off by a single bear market.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Now’s the time to play defense if you have retirement on the horizon appeared first on The Motley Fool Australia.

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More reading

• 4 key traits Warren Buffett uses to pick the best stocks
• Why is the Paradigm Biopharmaceuticals share price up 12% on Monday?
• What are you getting when you buy Wesfarmers shares on the ASX today?
• The OZ Minerals share price is rocketing 35% after BHP bid
• Is the Northern Star share price on the way back up?

Stefon Walters 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Arafura Resources Ltd (ASX: ARU) share price is making up some lost ground today.

Shares in the ASX rare earths explorer and near-term producer closed on Friday trading for 28 cents per share and are currently trading for 30 cents, up 9%.

This comes following a 15.6% drop on Friday.

What have ASX investors been considering?

The Arafura share price came under selling pressure on Friday after the mine emerged from a trading halt in the wake of its capital raising announcement.

The miner announced a placement of 156.7 million new shares at an issue price of 26.5 cents to raise $41.5 million.

Before entering the trading halt, Arafura shares closed at 32 cents on Tuesday, 17.2% higher than the new share issue price. Hence Friday’s sell-off.

Today investors are bidding up shares, perhaps taking into account that the miner said it will use the funds to help accelerate the completion of its Nolans Project, located in the Northern Territory.

The miner says that Nolans, which is under development, has the potential to supply “a significant proportion” of global neodymium and praseodymium (NdPr) demand. Some of the new funds will also be deployed to increase Arafura’s capacity to secure neodymium oxide as part of the project.

Arafura share price snapshot

Despite some big ups and downs, the Arafura share price remains up 127% over the past 12 months. That compares very favourably to the 7% full year loss posted by the All Ordinaries Index (ASX: XAO).

The post Arafura share price rebounds 9% following last week’s sell-off appeared first on The Motley Fool Australia.

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More reading

• Why did the Arafura share price plunge 19% today?
• Why Amcor, Arafura, Block, and Janus Henderson shares are dropping
• Why has the Arafura share price jumped 25% so far in July?

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 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 Woodside Energy Group Ltd (ASX: WDS) share price is back with a bang after a mostly downhill run last week. And its rebound likely has the same instigator as its recent falls – oil prices.

The Woodside share price is $31.66 at the time of writing. That’s 1.77% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.01% while the S&P/ASX 200 Energy Index (ASX: XEJ) has lifted 1.26%.

Let’s take a closer look at what’s going on with the ASX 200 oil producer on Monday.

What’s driving the Woodside share price today?

The Woodside share price is lifting on Monday, likely on the back of rising oil prices.

On Friday, Australia woke up to news oil prices had continued their recent falls to reach their lowest point since Russia invaded Ukraine.

But the commodities’ value picked back up after the Australian market closed on Friday.

The Brent crude oil price lifted 0.8% to US$94.92 a barrel in the final session of last week while US Nymex crude oil price rose 0.5% to US$89.01 a barrel.

It’s worth noting that, despite the gains, they still ended 13.7% and 9.7% lower week-on-week.

Comparatively, the Woodside share price got off relatively unscathed. It fell just 2.7% over the course of last week.

And investors will be glad the stock still has a long way to fall before it reaches the long-term red. It’s currently 44% higher than it was at the start of 2022 and almost 44% higher than it was this time last year.

Meanwhile, the ASX 200 has fallen 8% so far this year and 7% over the last 12 months.

The post Why is the Woodside share price having such a strong start to the week? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Sick of high petrol prices? Then buy this ASX share: analyst
• Why is the Woodside share price in a slump on Friday?
• 5 things to watch on the ASX 200 on Friday
• Which ASX 200 shares will prove to be dividend heavyweights this earnings season?

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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Following Friday’s 2.72% gain, the Fortescue Metals Group Limited (ASX: FMG) share price is climbing to an 8-week high today.

This comes despite the iron ore mining magnet not releasing any price-sensitive announcements since its quarterly report in late July.

At the time of writing, Fortescue shares are in the green by 4.24% to $18.91.

Wobbling iron ore prices? No worries for Fortescue

Investors are continuing to bid up the Fortescue share price regardless of iron ore prices tumbling of late.

Currently, the steel making ingredient is fetching for US$111.50 per tonne – a decline of 0.5% from Friday’s trading session.

It appears that iron ore prices are seesawing by lingering concerns regarding a potential global recession and China’s property crisis.

In addition, the recent tensions between the United States and China over Taiwan haven’t helped either.

However, even though Fortescue is closely tied with the movement of iron ore prices, a broader uplift in the sector is providing strong support.

The S&P/ASX 200 Resources Index (ASX: XJR) is up 1.54% to 5,309.6 points.

Shares in other miners, BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are up 0.18% and 1.71%, respectively.

Fortescue boasts one of the lowest costs positions to produce iron ore with C1 costs averaging US$15.91 per wet metric tonne.

Even if the steel making ingredient heads considerably lower, the company will still be churning out a healthy profit.

You might want to keep an eye out on 29 August when Fortescue is scheduled to report its FY22 results.

Fortescue share price snapshot

A volatile 12 months brought on by COVID-19 and depressed iron ore prices led the Fortescue share price to drop 18%.

Although, year-to-date has been far better despite the current external market challenges, down 2%

Fortescue has a price-to-earnings (P/E) ratio of 4.32 and commands a market capitalisation of roughly $55.85 billion.

The post What’s driving the Fortescue share price to an 8-week high today? appeared first on The Motley Fool Australia.

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More reading

• The iron ore price has slumped 10% in 5 days. Here’s how ASX 200 mining shares have responded.
• Up 5% in a month, is the current Fortescue share price a buy or a sell?
• ‘World’s greatest concern’: Can Fortescue really help the planet AND its profit margin?
• Is the iron ore price entering a bear market?
• Why Appen, Credit Corp, Fortescue, and Santos shares are dropping

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

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The Appen Ltd (ASX: APX) share price has been hit hard in 2022, but the technology company has recovered some of that lost ground today.

At the time of writing Appen shares are up 10%.

There hasn’t been any material news released by the company today.

However, the broker Citi recently said its rating on the business is neutral. The price target is $6.60, which implies a possible rise of around 40% over the next year, if the broker ends up being correct.

After looking at the recent result from competitor Telus International, it seems that Appen may be losing ground.

Appen’s recent FY22 update was not ideal.

At the current Appen share price, it could still be an interesting takeover target.

Earnings recap

FY22 half-year group revenue was down 7% to $182.9 million. This was largely due to a lower contribution from the global division. This was the result of weaker digital advertising demand and a resultant slowdown from some of its largest customers.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was down 69% to $8.5 million because of lower revenue and investments.

The company reported a statutory net loss after tax of $9.4 million. That’s down from a net profit of $6.7 million in the prior corresponding period.

However, it is expecting to achieve higher volumes in the latter part of the second half. It puts this down to the delivery of seasonal projects and a ramp-up in existing projects.

But, Appen did say that with no improvement in July trading, there remains “uncertainty about a continued slowdown of spending from global customers and their exposure to weaker digital advertising demand”.

Appen share price snapshot

Appen shares are down 56.5% since the beginning of 2022.

The post Why is the Appen share price jumping 10% on Monday? appeared first on The Motley Fool Australia.

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More reading

• Worried about how ASX 200 tech shares might perform this earnings season? Here’s what to watch
• Why is the Appen share price charging 6% higher?
• Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher
• Why Appen, ASX, Credit Corp, and Newcrest shares are dropping today
• When were insiders last buying up Appen shares?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Appen Ltd. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Warren Buffett has a knack for finding high-return equity investments. Between 1965 and 2020, the holding company Buffett runs, Berkshire Hathaway (NYSE:BRK-B), delivered a compound annual gain of 20%. That’s nearly double the S&P 500‘s annual growth of 10.2% in the same timeframe.

Fortunately for the investment community, Buffett likes to share his methods with the masses. In early 2008, he outlined four traits he and his fellow Berkshire leader Charlie Munger use to identify investable companies:

Charlie and I look for companies that have a) a business we understand; b) favorable long-term economics; c) able and trustworthy management; and d) a sensible price tag.

Below is a closer look at those four traits and how you can apply them to your own investing.

1. A business we understand

Buffett has long expressed the importance of investing within your circle of competence. Investing in a company you understand has these advantages:

1. You have a better sense of that company’s strengths and weaknesses.
2. You can make better, faster decisions and judgments when you receive new information.
3. You are more connected to the investment. Your position is more than something you hope will be profitable; it’s a business you enjoy following.

2. Favorable long-term economics

Favorable long-term economics boil down to strong returns on invested capital today, plus a hefty competitive advantage to protect those returns over time. The advantage could be the industry’s most efficient cost structure or a brand that’s beloved by consumers around the world.

Whatever the advantage, it must be lasting. A competitive advantage that’s easily copied or dismantled fails the long-term test.

This is one reason Buffett prefers stable industries over industries in flux. Change, whether in regulations, demand, or technology, can weaken competitive advantages in ways that are hard to predict.

3. Able and trustworthy management

In the absence of scandal, it’s hard for individual investors to evaluate the trustworthiness of corporate leaders. But you can evaluate a leadership team’s ability, often by way of the company’s results and culture. Questions to research include:

• Has management been consistent and disciplined with respect to growth initiatives?
• Have they executed on stated strategic priorities?
• How has the company performed in economic downturns?
• How does the leadership team protect and enhance the company’s competitive advantage?
• How has leadership addressed the company’s weaknesses?
• What do the employees say about their leaders?

4. Sensible price tag

Buffett is a value investor. He invests in quality businesses when the price tag is lower than the company’s intrinsic value.

As an example, as tech stock prices were falling in the first quarter of 2022, Buffett snatched up 3.7 million shares of Apple Inc (NASDAQ:AAPL). The iPhone maker was already the largest position in Berkshire Hathaway’s portfolio.

Notably, Berkshire Hathaway’s cash on hand had reached $144 billion before the tech sell-off. So Buffett could have easily bought more Apple shares last year, but he chose not to.

In an interview with CNBC, Buffett admitted he’d made the buy after Apple dipped — presumably because it fell into “sensible” territory. He also said he would’ve bought more if the share price hadn’t rebounded.

This aspect of Buffett’s approach is particularly relevant now, as the S&P 500 flirts with a 14% decline on the year. The downturn has likely ushered in lower share prices for some of your favorite stocks, too.

Keep it simple

Buffett likes investing in great companies with good leaders at low prices. Notably, he can also explain what makes a company investable in one sentence. His clarity is as inspiring as his methods.

There’s value in defining your own investment approach in clear, simple terms. It’ll help you stay focused and make more aligned decisions. You’ll need that focus if you’re hoping to make like Buffett and outpace the long-term returns of the S&P 500.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 4 key traits Warren Buffett uses to pick the best stocks appeared first on The Motley Fool Australia.

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More reading

• Why is the Paradigm Biopharmaceuticals share price up 12% on Monday?
• What are you getting when you buy Wesfarmers shares on the ASX today?
• The OZ Minerals share price is rocketing 35% after BHP bid
• Is the Northern Star share price on the way back up?
• Could inflation now be fully priced in to ASX 200 shares?

Catherine Brock 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 Apple and Berkshire Hathaway (B shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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It’s been a day of paltry moves for ASX shares in the All Ordinaries Index (ASX: XAO) so far this Monday. At the time of writing, the All Ords has gained just 0.08% at around 7,256 points after spending most of the morning in red territory.

But that is certainly not the case for the Sayona Mining Ltd (ASX: SYA) share price.

Sayona shares are on fire today. The ASX lithium stock has gained an impressive 15.24% and is now trading at 24 cents per share after closing at 21 cents last week.

So what on earth is going on with this ASX lithium producer today that might be prompting such a decisive push higher?

Why is the Sayona share price on fire this Monday?

Well, it’s unfortunately hard to say. There hasn’t been any fresh news or price-sensitive announcements from Sayona today.

However, we can look to what happened last week for a possible explanation for these Monday moves.

Last Thursday, Sayona came out with an announcement regarding its North American lithium operation, located in Québec, Canada.

As we covered at the time, Sayona revealed that “approximately 30% of plant and equipment upgrades are said to be completed. This is expected to accelerate with the number of construction workers on site set to double to 100 by September”.

Consequently, Sayona’s management expects the project to produce its first lithium spodumene concentrate in the first quarter of 2023.

It’s likely the announcement last Thursday has had some kind of impact on investor sentiment. That’s seeing as Sayona shares have risen more than 22% since the news was made public. So this appears to be what could be driving the Sayona share price higher today.

Other ASX lithium stocks are also enjoying some time in the sun this Monday. Liontown Resources Limited (ASX: LTR) shares are presently up more than 4%. While Core Lithium Ltd (ASX: CXO) shares are up 4.6%.

Pilbara Minerals Ltd (ASX: PLS) shares have gained almost 3% today. So clearly, there is a lot of love for lithium and not just Sayona today.

At the current Sayona mining share price, this ASX lithium stock has a market capitalisation of $1.99 billion.

The post Why is the Sayona Mining share price surging 15% on Monday? appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX tech shares had a cracking day on the ASX today
• Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher
• Sayona share price lights up on ‘rapid progress’ toward production
• Up 33% in July, why did the Sayona share price have such a stellar month?
• The Openpay share price has cratered 40% in 3 days. What’s going on?

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. 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 Macquarie Group Ltd (ASX: MQG) share price is dipping into the red in early afternoon trading.

Macquarie shares closed on Friday at $176.93 each and are currently trading for $176.08 a share, down 0.48%.

The S&P/ASX 200 Index (ASX: XJO) financial share, which also counts amongst Australia’s largest bank shares by market capitalisation, isn’t the only financial share in the red. The S&P/ASX 200 Financials Index (ASX: XFJ) is also down 0.22% at the time of writing.

The Macquarie share price is dipping alongside the broader financial sector amid news hitting the wires about an imminent $3.7 billion acquisition.

Deal could be announced anytime

As Bloomberg reports, Macquarie appears poised to acquire Suez SA’s United Kingdom waste business from Veolia Environnement SA for some 2.5 billion euros (AU$3.7 billion), according to “people with knowledge of the matter”.

As the transaction details for water and waste-treatment business are private, those people requested anonymity.

Veolia is divesting itself of the asset to resolve antitrust concerns raised in May.

At the time, the UK Competition and Markets Authority said Veolia’s acquisition of Suez’s UK-based business could hurt competition and increase prices. Veolia didn’t agree with that assessment but in June said it would divest itself of the asset. The company said the sale would “free up significant cash flow to finance new developments, particularly in the energy sector”.

But Macquarie’s acquisition isn’t quite in the bag yet.

An investor group led by Meridiam SAS and Global Infrastructure Partners has already acquired Suez’s operations in France. According to the people Bloomberg sourced, the investor group can still make a counteroffer to Macquarie’s $3.7 billion bid for Suez’s UK business.

Macquarie has not yet commented on the state of its acquisition bid.

Stay tuned.

Macquarie share price snapshot

The Macquarie share price is up more than 11% over the past 12 months. That compares to a full year loss of 7% posted by the ASX 200.

The post Macquarie share price slips despite rumours $3.7 billion acquisition imminent appeared first on The Motley Fool Australia.

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More reading

• Why has the Macquarie share price had such a lacklustre start to August?
• Morgans names 3 more of the best ASX shares to buy in August
• 5 things to do during ASX results season
• Broker gives its verdict on the Macquarie share price
• Macquarie share price lifts as CEO spruiks ‘very good inflation protection’

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. 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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