The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price lost 5.1% last month. Shares closed October trading for $28.14 and finished November worth $26.70

By comparison, November saw the S&P/ASX 200 Index (ASX: XJO) down 0.9%.

Below, we take a look at some of the factors moving the ANZ share price last month.

What happened to the ANZ share price in November?

ANZ kicked off November with a strong calendar year behind it. Having recovered from some tough times in 2020, the ANZ share price was up 24% year to date on 1 November.

While 2020 saw the bank cut its full year dividend to 60 cents, it paid an interim dividend of 70 cents per share, fully franked, in July this year. The move would have been welcomed by investors.

Although shares finished the month down, analysts over at Macquarie came out with a positive outlook for the bank.

As The Motley Fool reported on 4 November, Macquarie cited better-than-expected margins and income from markets in ANZ’s 2H FY21 results. Acknowledging that home lending figures were below expectations, the analyst said this news has likely already been priced into the market. The broker retained its outperform rating, with a $29.50 target for the ANZ share price.

Share prices tend to drop ex-dividend

One of the factors pulling down the ANZ share price in November was that the bank went ex-dividend on 8 November. The bank will pay a final dividend of 72 cents per share, 100% franked, on 16 December. But only to shareholders who held shares on or before 7 December.

It’s quite standard for a company’s share price to drop by a similar amount to its upcoming dividend payment on the day it goes ex-dividend.

Finally, the ANZ share price didn’t appear overly impacted by news of a lawsuit brought by the Australian Securities and Investment Commission (ASIC) and reported on 26 November.

As my Foolish colleague Tristan Harrison wrote on the day, “ASIC has launched a civil penalty proceeding relating to three unlicensed third parties providing home loan application documents to ANZ lenders, including in connection with ANZ’s home loan introducer program.”

From the release of that announcement on 26 November through to the end of the month, shares in ANZ lost 2.1%.

The post Why did the ANZ (ASX:ANZ) share price struggle last month? appeared first on The Motley Fool Australia.

More reading

• ANZ Bank (ASX:ANZ) spruiks $400m tech rebuild with mortgage approval in 10 min
• What happened for the ANZ (ASX:ANZ) share price in November?
• Can NAB (ASX:NAB) shares ever close in on CBA’s market cap?
• Leading brokers name 3 ASX shares to buy today
• Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks

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 Bruce Jackson.

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Ask A Fund Manager

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, Alphinity Investment Management client portfolio manager Alfreda Jonker picks the ASX share that you’d sleep well holding for 4 years.

The ASX share for a comfortable night’s sleep

The Motley Fool: If the market closed tomorrow for 4 years, which stock would you want to hold?

Elfreda Jonker: I have to go with a good old favourite that’s been in our funds for many years. It’s Goodman Group (ASX: GMG).

This is just a business that, over the last 10 years, that’s just consistently been in an earnings upgrade cycle. What they do, I’m sure most people know it… it’s an industrial and logistics property group. 

Effectively they’re the major asset manager. So they don’t actually own these properties, but they do manage it. Their assets under management is sitting at around $60 billion at the moment, and they’ve got a substantial work-in-progress pipeline of around another $5 billion. So they are really expanding that balance sheet.

They largely do work for all these big e-commerce companies. So the increasing requirement from Amazon.com Inc (NASDAQ: AMZN) and the likes, that just keep on requiring bigger spaces, they manage a lot of those logistics properties for them. 

Besides that, they’re also doing just a global expansion. It’s really one of those Australian companies that’s managed to expand globally very well. There’s very few competitors with their size and scalability. 

So for us at the moment, the reason why we particularly like it now is [that] at the recent results they announced that their earnings growth would be around 10% for the next year, which was a bit lower than what the market expected and I think a little bit disappointing. But then, literally a few months later [for] the first quarter, they just lifted that to 15%. 

So it just shows the massive confidence that they have to generate that sort of earnings growth over the next year.

For us, it’s just been one of those stories that, not only is it an incredibly well-run business with a very strong balance sheet and a fantastic management team, it’s probably one of the highest-rated teams in our view in the market. 

We also see that there’s just one of these thematics playing out — the world going online — and they are right there at the cusp and have the availability of the properties, and the skillset that others don’t. 

For us, this is certainly the stock that you can close your eyes, buy for 4 years, and you know in 4 years’ time, it’s going to be there and will be even stronger.

The post ‘Close your eyes’: ASX share you can buy and forget appeared first on The Motley Fool Australia.

More reading

• 3 strong blue chip ASX 200 shares to buy
• What do Wesfarmers (ASX:WES) and Amazon.com have in common?
• Analysts rate these ASX 200 shares as buys
• If this is volatility, bring it on
• Here’s why the Goodman Group (ASX: GMG) share price just hit an all-time high

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tony Yoo owns shares of Amazon. 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 Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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With savings accounts and term deposits still providing very low interest rates, the share market arguably remains the best place to earn a passive income.

But which ASX dividend shares should you consider buying? Two to consider are listed below:

Commonwealth Bank of Australia (ASX: CBA)

The first ASX dividend share to look at is Commonwealth Bank. This banking giant’s shares have pulled back significantly recently due to the release of a disappointing first quarter update which revealed margin pressure from intense competition for home loans.

One broker that is sticking with Australia’s largest bank is Bell Potter. In response to the release, its analysts retained their buy rating but trimmed their price target to $111.00.

Bell Potter likes CBA due to its position as the leader in home lending and retail deposits, its strong balance sheet with significant surplus capital and opportunities to add value via SME banking, wealth management, and selective Asian expansion.

As for dividends, the broker is forecasting fully franked dividends per share of $3.94 in FY 2022 and $4.15 in FY 2023. Based on the current CBA share price of $97.95, this will mean yields of 4% and 4.2%, respectively.

Transurban Group (ASX: TCL)

Another ASX dividend share for income investors to look at is Transurban. It is a toll road operator with a collection of important roads in Australia and North America. It also has a number of development projects that look set to underpin its growth in the next decade.

The team at Morgans is a fan of Transurban and notes that the company provides investors with exposure to regional population and employment growth and urbanisation.

Morgans currently has an add rating and $14.79 price target on the company’s shares.

In respect to dividends, the broker has pencilled in dividends per share of 39 cents in FY 2022 and then 57 cents in FY 2023. Based on the current Transurban share price of $13.98, this will mean yields of 2.8% and 4.1%, respectively.

The post Why CBA (ASX:CBA) and this dividend share could be buys appeared first on The Motley Fool Australia.

More reading

• ANZ Bank (ASX:ANZ) spruiks $400m tech rebuild with mortgage approval in 10 min
• 5 things to watch on the ASX 200 on Wednesday
• RBA maintains interest rate but removes 2024 reference. What could this mean for ASX shares?
• CBA share price struggling today amid sliding home buying intentions
• Leading brokers name 3 ASX shares to sell 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 Bruce Jackson.

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If you’re investing in ASX shares and want to outperform the average punter, or indeed the index, you need to do something different.

So it’s sometimes worthwhile opening your horizons and considering businesses that don’t make daily headlines in the newspapers (or websites).

Here are 3 examples of such ASX shares that the team at Market Matters reckons are ripe for buying:

Can this software firm return to its glory days?

Shares for software maker Gentrack Group Ltd (ASX: GTK) traded in the $6s and high $5s only a couple of years ago.

As of Wednesday’s close, they were going for $1.755.

Shaw and Partners analyst Jules Cooper reckons Gentrack is “a quality business led by a credible team” that can return to glory.

“It is the darkest hour, and the stock is capitalising that into its valuation,” he told a Market Matters video.

“We think this stock can more than double.”

The resurrection may have already started, with a positive financial update a fortnight ago pushing the shares up 7.6% on the day.

Market Matters chief James Gerrish agreed with Cooper.

“We like this pick and believe you can play Gentrack with less than 10% risk, which is fairly conservative at this end of town.”

All this data isn’t going to hold itself

Global Data Centre Investment Fund (ASX: GDC) has much going for it, not least the worldwide thirst for data and the demand for physical locations to house it all.

But the share price has gone nowhere since listing in late 2019, trading at $1.85 as at Wednesday’s close.

Shaw and Partners senior analyst Jonathan Higgins revealed that his team rates the stock as a “buy” with a price target of $3.03.

“We think it’s one of the clearest valuation arbitrages in the market,” he said.

“In the data centre space, we’re seeing significant tailwinds. We’re seeing the likes of the Googles, the Amazons, the Facebooks and the Microsofts of the world growing in this space anywhere from 40% to 50% per annum.” 

According to Gerrish, the market has been reluctant to “push the stock too hard too fast”.

“We like the thesis but would be nervous if the stock failed to hold the $1.75 area.”

This ASX share has already rocketed since these comments

Audinate Group Ltd (ASX: AD8) makes audio networking technology, which has a flagship product named Dante.

Dante is fast becoming the default networking protocol pre-installed into audio equipment such as musical instruments.

According to Gerrish, such a lead in the industry is a great omen for the future.

“The $695 million business holds a comforting $65 million in cash and enjoys gross margins above 75%,” he said.

“It certainly looks poised to go from strength to strength during the COVID re-opening period.”

His team likes it as a buy around the $9 mark.

“But we would question what was unfolding under the hood if the stock fell under $7.50,” he said. 

“We recently bought Audinate in the Emerging Companies portfolio at $8.93.”

Audinate shares have exploded almost 8% in the past 48 hours to close at $9.72 on Wednesday.

The post 3 ASX shares you’ve never heard of that experts love appeared first on The Motley Fool Australia.

More reading

• 3 hot ASX shares to buy right now: advisor
• 2 ASX shares rated as strong buys by top brokers
• Gentrack (ASX:GTK) share price leaps 8% on EBITDA surprise

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was a strong performer again and continued to charge higher. The benchmark index rose 1.25% to 7,405.4 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to give back some of its recent gains on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.55% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones down 0.1%, the S&P 500 up 0.1%, and the Nasdaq up 0.4%.

Oil prices rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.7% to US$72.54 a barrel and the Brent crude oil price is up 0.7% to US$75.97 a barrel. Traders continue to buy oil amid easing concerns over the Omicron threat.

Santos to sell Barossa stake

The Santos share price will also be on watch today after announcing an agreement to sell a 12.5% interest in the Barossa project to JERA for a consideration of approximately US$300 million. This will reduce Santos’ stake in the project to 50%. Barossa is one of the lowest cost, new LNG supply projects in the world.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,786.5 an ounce. The gold price rose after the US dollar softened overnight.

Webjet rated a buy

The Webjet Limited (ASX: WEB) share price remains in the buy zone despite the emergence of the Omicron variant according to Goldman Sachs. This morning the broker retained its buy rating, albeit with a trimmed price target of $6.90. It said: “We continue to see a long term growth story in this business and view WEB as net beneficiaries of the post COVID recovery.”

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• Santos (ASX:STO) share price climbs as merger clears key PNG hurdle
• Here are the top 10 ASX shares today
• Woodside (ASX:WPL) share price rises on $5 billion new energy plan
• ANZ Bank (ASX:ANZ) spruiks $400m tech rebuild with mortgage approval in 10 min
• Why has the Woodside (ASX:WPL) share price had such a slow start to December?

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 recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re a fan of tech shares, then you may want to look closely at the two listed below.

Both shares are rated highly by the team at Goldman Sachs. Here’s what the broker thinks about them:

Hipages Group Holdings Ltd (ASX: HPG)

The first ASX tech share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with over 30,000 trusted tradies.

Goldman Sachs is very bullish on Hipages’ growth prospects. As a result, it currently has a buy rating and $4.95 price target on its shares.

The broker commented: “In our view, the opportunity for HPG is similar to REA/CAR, which are now the leading online platforms in their respective industries. There is a meaningful growth runway for HPG from here: it currently captures only 2.4% of industry GMV; of the GMV it does service, the take rate is low compared to other vertical marketplaces. We forecast 22% revenue CAGR from FY21-FY24E and despite near term reinvestment generating a flat margin profile over our forecast period, we expect solid operating leverage over the long term with our terminal year (FY31E) EBITDA margin reaching 46%.”

PointsBet Holdings Ltd (ASX: PBH)

Another ASX tech share to look at is PointsBet. It is a sports betting and iGaming provider with operations in the ANZ and US markets. At the end of FY 2021, the company had grown its active clients to 196,585 in Australia and 159,321 in the US.

Goldman Sachs is also very positive on PointsBet’s outlook. This is due largely to its massive opportunity in the US market. The broker has a buy rating and $14.75 price target on its shares.

It commented: “Overall we remain positive on PBH, with our thesis underpinned by i) PBH’s leverage to the burgeoning US Sports Betting and iGaming market, which we forecast to be a >US$50 bn TAM opportunity at maturity, ii) our view that PBH remains well-placed to capitalise given its in-house tech stack, iii) upside risk to long-run sustainable margins in Aus and the US, and iv) scalability benefits ahead from NBCUniversal leads and broader coverage from state roll outs.”

The post Goldman Sachs loves these ASX tech shares appeared first on The Motley Fool Australia.

More reading

• 3 fantastic ASX growth shares to buy right now
• 10 ASX shares to buy in 2022
• Goldman sees “significant upside opportunity” for the PointsBet (ASX:PBH) share price
• 3 top ASX growth shares to get bullish on
• Top ASX shares to buy in December 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Insurance Australia Group Ltd (ASX: IAG) share price was on form on Wednesday.

The insurance giant’s shares ended the day almost 3% higher at $4.48.

However, despite this gain, the IAG share price is still down a disappointing 5% in 2021.

Is the IAG share price in the buy zone?

While the IAG share price performance this year has been disappointing, analysts at Morgans appear to believe this could be a buying opportunity.

In response to the company’s strategy update this week, the broker has put an add rating and $5.31 price target on its shares.

Based on the current IAG share price, this implies potential upside of 18.5% over the next 12 months. And with Morgans forecasting an 18.2 cents per share dividend in FY 2022, this 4% yield stretches the total potential return to 22.5%.

What did the broker say?

Morgans appears pleased that IAG held firm with its medium term targets at its strategy event.

The broker commented: “IAG has held a business update focusing on its 5 year strategy. Medium term targets remain unchanged, e.g. targeting a cash ROE of 12%-13%, an insurance margin of 15%-17% and a growth profile. IAG’s FY22 guidance for a 10%-12% reported insurance margin and low single-digit GWP growth was also re-affirmed.”

And while Morgans has a few nagging doubts, it was largely pleased with its strategy.

It explained: “IAG’s overall strategy sounds logical, although history shows it is one thing improving margins in IIA and another thing being able to maintain them. We are probably most sceptical on whether IAG can grow customer numbers by 1m over 5 years as planned, noting IAG has been losing share in personal lines in recent times. However, positively, it does appear that IAG has already made a significant start on executing its plans in FY22.”

Overall, the broker believes the IAG share price is cheap for patient investors.

Morgans concluded: “We believe for the patient investor the stock is cheap trading on ~13x FY23F earnings, and we expect continuing insurance price increases, combined with management’s strategy to improve performance, to drive improved profitability over time. ADD maintained.”

The post Why the IAG (ASX:IAG) share price could be cheap for patient investors appeared first on The Motley Fool Australia.

More reading

• IAG (ASX:IAG) share price on watch following trading update
• What happened to the IAG (ASX:IAG) share price last month?
• Own IAG (ASX: IAG) shares? Here’s why the company is facing a shareholder class action
• With the IAG (ASX:IAG) share price trading around decade-lows, is now the time to buy?
• November hasn’t been a great month so far for the IAG (ASX:IAG) share price

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The KGL Resources Ltd (ASX: KGL) share price soared 34% after the company revealed record copper results.

Shares in the mineral exploration company were swapping hands at 64.5 cents at market close, up 34.38%.

KGL Resources is focused on exploring and developing the Jervois Base Metal Project in the Northern Territory.

Record results

In today’s announcement, KGL Resources reported a mammoth assay of 61.4% copper within the Rockface diamond drill hole located at the Jervois project.

The miner said this percentage was within an intercept of 20.5% copper and 302 grams per tonne of silver across 4.21 metres.

The company also revealed it has discovered two new massive sulphide deposits.

In total, six drill intercepts have been found to contain massive sulphides across a distance of more than 160m. Mass sulphides are discoveries that could be rich in metal including copper.

As previously reported by Motley Fool Australia, the KGL Resources share price soared to a 5-month high in November on the back of initial assay results from the Rockface drill hole.

The company will continue drilling at Rockface and assessing the results.

Management comment

Commenting on the copper update, KGL managing director Simon Finnis said:

The new record copper assay from hole D6 at Rockface is extraordinary. Mineralogically, it represents 97% pure bornite and confirms the previous visual estimate.

More importantly, together with previous results and the new visual mineral intersections announced here, they demonstrate that the high-grade shoot of massive sulphides has significant dimensions and grades that bode
well for the future.

SKGL Resources share price snapshot

In the past 12 months, the KGL share price has soared more than 124%. The company’s share price reached a 52-week high of 84.5 cents in April. The yearly low was 25 cents in December last year.

KGL Resources commands a market capitalisation of roughly $253 million at the time of writing.

The post KGL Resources (ASX:KGL) share price rockets 34% on copper update appeared first on The Motley Fool Australia.

More reading

• Why is the KGL (ASX:KGL) share price up over 14% today?

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

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The Pure Hydrogen Corporation Ltd (ASX: PH2) share price finished flat today following an investment update.

After hitting a 59.5 cent high in early trading, shares in the hydrogen company had retreated to their opening price of 52 cents apiece by the close of trade this afternoon.

Pure Hydrogen is intent on developing clean energy and tapping into the net-zero emissions market.

What did Pure Hydrogen announce today?

In today’s update, Pure Hydrogen provided an investment summary of its fuel cell technology, hydrogen operations and fuel cell mobility.

This follows the Pure Hydrogen shares surging to incredible highs yesterday, finishing the day up 22.89% on the previous close.

To recap, Pure Hydrogen advised the market yesterday it had released several hydrogen fuel cell power generation units to the market in partnership with H2X Global Limited.

In today’s announcement, Pure Hydrogen predicted demand for Hydrogen could increase 10-fold by 2050.

Hydrogen, it explained, was the no-emissions replacement fuel for diesel.

The company predicted global demand for hydrogen would top 500 million tonnes by 2050.

With this in mind, Pure Hydrogen International plans to develop four large scare hydrogen plants on the east coast of Australia — in Gladstone, Mackay, Newcastle and Port Anthony.

Pure Hydrogen share price snapshot

The Pure Hydrogen share price has rocketed a whopping 526.5% in the past 12 months and is up almost 491% this year to date. The range between its 52-week high and low is extreme: from as low as 8 cents per share to as high as 83 cents apiece.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned nearly 11% in the past year.

Based on its current share price, Pure Hydrogen commands a market capitalisation of roughly $176 million.

The post What happened with the Pure Hydrogen (ASX:PH2) share price today? appeared first on The Motley Fool Australia.

More reading

• These were the 5 best-performing ASX hydrogen shares of November
• Why the Pure Hydrogen (ASX:PH2) share price is powering 22% ahead today?
• Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’
• Why are ASX hydrogen shares tumbling today?
• Pure Hydrogen (ASX:PH2) share price rebounds 5% on project upgrade

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

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Shares in hydrocarbons giant Santos Ltd (ASX: STO) finished 2.28% in the green at $6.73 on the cusp of the company’s planned merger.

Santos shares were catching bids today as its proposed merger with Oil Search Ltd (ASX: OSH) enters into its final stages. Let’s take a closer look.

What was announced today?

Santos advised it had received the necessary clearance from the Independent Consumer and Competition Commission (ICCC) of Papua New Guinea (PNG) to cement its merger with Oil Search.

The pair were required to satisfy this caveat, which was labelled clause 3.1(e) of the merger implementation deed.

As such, the condition set out in the clause has now been satisfied, as confirmed by both parties in separate announcements today.

The next stage of the deal is to be heard in a PNG court tomorrow, 9 December. A National Court of PNG will hear from both parties in the merger, and how both intend to tackle identifiable risks, amongst other factors.

The merger must still satisfy or waive (where capable) additional customary conditions outlined in the implementation deed.

What’s next?

The confirmation today follows further affirmation by PNG’s Securities Commission yesterday, which also gave its approval for the merger.

This came on the same day that Oil Search shareholders voted with an overwhelming majority for the merger to proceed to form an oil and gas powerhouse in the region.

The vote of approval from Oil Search’s equity holders adds another layer of credibility to the deal. Some expert analysis had felt the company is bringing more value to the table for its roughly 38% share of the newly-formed entity.

However, the same analysis also concluded Oil Search would benefit more from completing the merger than if it remained a standalone entity.

More details are sure to come following the court hearing tomorrow where, if successful, the effective implementation date will be on 17 December. After that, the new Santos shares will begin trading on 20 December on an ordinary settlement basis.

Santos shares are up marginally in the past 12 months having gained just over 4.5% in that time. Year to date, the Santos share price has climbed more than 7% but is down almost 1.5% in the last month.

The post Santos (ASX:STO) share price climbs as merger clears key PNG hurdle appeared first on The Motley Fool Australia.

More reading

• Why Life360, Oil Search, Telix, and Zip shares are storming higher
• 5 things to watch on the ASX 200 on Wednesday
• Oil Search (ASX:OSH) shareholders give green light for Santos merger
• ASX 200 (ASX:XJO) midday update: Zip update impresses, BOQ rises
• Why is the Santos (ASX:STO) share price climbing today?

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

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