The EML Payments Ltd (ASX: EML) share price is soaring on Thursday morning.

In morning trade, the payments company’s shares are up 17.8% to $3.24. Although, it remains a distant 45% away from its 52-week high of $5.89.

Let’s take a look at what is creating excitement among EML investors today.

Thumbs up for Ireland operations sends EML share price flying

In its latest update, EML Payments has informed investors of recent dialogue from the Central Bank of Ireland (CBI). This follows months of uncertainty for the company following the initiation of an investigation after CBI found regulatory concerns within the PFS Card Services (Ireland) Limited (PCSIL) business.

According to the release, CBI has advised it will allow PCSIL to sign new customers and launch new programs whilst staying within the material growth restrictions. Positively, PCSIL expects it can meet the obligations. This removes any previous concern of EML’s subsidiary losing the ability to continue expansion.

Additionally, broad-based reductions in limit controls on programs will not be imposed. This is also beneficial for the value of transactions processed by the company. Furthermore, CBI will continue to work with PCSIL to agree on appropriate limits under its risk management and controls framework.

Lastly, the central bank intends to impose a material growth limitation over PCSIL’s total payment volumes. This will be in place for 12 months with the potential of it being removed earlier following third-party verification of PCSIL implementing its remediation plan effectively.

The news has been well received by the market today, with EML Payments’ share price breaking above $3 again.

What’s next?

Following this, EML’s PCSIL intends to submit documentation to work with CBI on growth limits. The Ireland subsidiary intends to do this by 30 November 2021.

Notably, the update also indicated PCSIL’s remediation plan is on track. The card services business has been high volume-low yielding programs to comply with a material growth restriction.

Despite today’s recovery, the EML Payments share price is still down 22% year-to-date.

The post EML (ASX:EML) share price rockets 17% on new programs green light from regulator appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of EML Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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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Analysis from Commonwealth Bank of Australia (ASX: CBA) suggests that ASX retail shares may be about to enjoy an important bump in sales for Black Friday.

CBA has been looking at its merchant data over the four days from Black Friday to Cyber Monday in previous years to get a sense of how much sales might grow.

In 2020, spending over the four days (27 November to 30 November) increased by 14% compared to the prior week.

It was a similar story in 2019. In the four days of Black Friday sales (29 November to 2 December), sales also increased by 14% compared to the same four days of the prior week.

It’s true that Black Friday sales in both 2019 and 2020 saw a bump compared to normal trading, but CBA also said it was interesting to note that overall spending increased by 10% in 2020’s Black Friday period compared to the 2019 Black Friday event.

This might suggest good news for ASX retail shares.

Does this mean 2021 Black Friday sales are going to be strong?

Head of Consumer and Diversified Industries in CBA’s Business Banking division, Jerry Macey thinks that the upcoming Black Friday sales could be good for both customers and businesses:

The increase in sales in 2020 in comparison to 2019 bodes well for the Black Friday sales this coming weekend. Shoppers across the country are increasingly taking advantage of the recent move towards pre-Christmas discounting and we would expect this trend to continue this year.

Businesses are viewing the Black Friday and Cyber Monday weekend period as an opportunity for them to grow their customer base as spending patterns and behaviours change. It also presents an opportunity for retailers to bring forward sales, optimise their inventory and enhance performance for the year if they manage these sales events well.

CommBank research shows that the majority of customers are keen to take advantage of discounted products and services. Those CBA shopping insights show 82% of Aussies will try to “make the most of any discount or rewards available to them”, whilst 80% said they are “encouraged to shop again at those retailers offering discounts or rewards.”

Which ASX retail shares could see a bump of sales?

There are plenty of retail shares on the ASX like Wesfarmers Ltd (ASX: WES), Harvey Norman Holdings Limited (ASX: HVN) and Adairs Ltd (ASX: ADH).

CBA said that judging by spending trends of previous years, the big winners this year are expected to be clothing and cosmetic retailers (which saw growth of 34% and 46% respectively). In those spaces are ASX shares like Premier Investments Limited (ASX: PMV), City Chic Collective Ltd (ASX: CCX), Adore Beauty Group Ltd (ASX: ABY) and Australian Pharmaceutical Industries Ltd (ASX: API).

Furniture and electronic retailers saw sales growth of 33% and 26% respectively in 2020. Temple & Webster Group Ltd (ASX: TPW) and Nick Scali Limited (ASX: NCK) are two of the largest furniture retailers whilst Kogan.com Ltd (ASX: KGN) and JB Hi-Fi Limited (ASX: JBH) are two large players in the electronics retailing sector.

New CBA shopping offering

CBA is also spruiking its new shopping offering for consumers which includes the newly launched deal discovery app, Cheddar, investment in gift card disrupter, Karta, its partnership with online shopping hub, Little Birdie, and its cashback program, CommBank Rewards.

The post ASX retail shares in focus as CBA forecasts bumper Black Friday weekend appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended ADAIRS FPO, Kogan.com ltd, and Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO, Harvey Norman Holdings Ltd., Kogan.com ltd, and Wesfarmers Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Premier Investments Limited, and Temple & Webster Group 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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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.

What happened

Today, investors in Avalanche (CRYPTO: AVAX) are seeing some pretty consistent declines. Over the past 24 hours, the AVAX token had dropped more than 8% as of 1:30 p.m. ET on Wednesday. 

Today’s move is a continuation of yesterday’s decline, which has seen AVAX drop from its high of more than $146 per token on Monday, to around $117 at the time of this writing.

This decline comes on the heels of a widespread crypto market sell-off that many are linking to today’s news that India is moving forward with a bill to officially ban cryptocurrencies in that key market.

So what

Avalanche has been one of the fastest-rising cryptocurrencies of late. On Monday, this token took the No. 10 spot in the cryptocurrency rankings, before falling to 11th today after its latest declines.

The key catalyst for Avalanche in hitting new all-time highs earlier this week was a high-profile partnership with consulting firm Deloitte. It appears Deloitte is fond of Avalanche’s underlying blockchain technology, and has sought it out as its partner of choice to support its work with the Federal Emergency Management Agency (FEMA).

What Deloitte is looking to do is find a way to aggregate and validate FEMA’s claims. Using blockchain technology, this is the latest value-added vertical that investors have pointed to as validation that blockchain creates real-world utility outside of being a decentralized means of transferring money.

Now what

This is certainly a big-name partnership. Avalanche’s profile in the crypto community is rightly elevated by this deal. Accordingly, there’s a tremendous amount of excitement building around Avalanche and the AVAX token right now.

Today’s decline appears to be a more-technical, market-driven move. Thus, those looking for exposure to Avalanche have what appears to be a juicy dip to buy here.

Ultimately, time will tell if this dip was one worth buying. But it sure looks attractive to those who think they might have missed the boat on Avalanche this past week. 

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

The post Avalanche crypto just dipped 8%. Is it a buy? appeared first on The Motley Fool Australia.

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• Here’s why the Serko (ASX:SKO) share price is crashing 10% lower today
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Chris MacDonald 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.

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

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The Serko Ltd (ASX: SKO) share price is back from its trading halt and deep in the red.

At the time of writing, the travel booking technology company’s shares are down 10% to $6.65.

Why is the Serko share price tumbling lower?

The weakness in the Serko share price today has been driven by the completion of the company’s NZ$75 million placement.

According to the release, the placement was fully subscribed at NZ$7.05 per share, representing a 10.2% discount to the closing price of NZ$7.85 on 23 November.

Management advised that the placement was well supported, attracting bids well in excess of the NZ$75 million total offer amount from institutional and other select investors in both local and offshore markets.

Serko will now push ahead with a retail offer aiming to raise a further NZ$10 million from retail shareholders.

Why is Serko raising funds?

Serko launched its capital raising to raise funds for three particular activities. These are investing for growth with Booking.com for Business, developing a global marketplace strategy, and for potential acquisitions that accelerate its global expansion opportunities.

In respect to the former, the company notes that following the successful migration of Booking.com business customers onto the new Zeno powered Booking.com for Business platform, Serko will undertake targeted investment to optimise customer engagement and extend the offering across global markets to maximise the potential of the opportunity.

As for the global marketplace strategy, Serko intends to transform from an online booking tool into a distributed marketplace. This will create an ecosystem of travel content suppliers and business travel market segments connected through the Zeno platform.

Serko’s CEO, Darrin Grafton, was pleased with the success of the capital raising.

He commented: “The capital raising enables Serko to continue to invest to capture the growth opportunities across key markets, and realise our vision of transforming from an online booking tool into a global marketplace. We are pleased with the level of support received for the raise from new and existing investors.”

The post Here’s why the Serko (ASX:SKO) share price is crashing 10% lower today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Serko Ltd. The Motley Fool Australia has recommended Serko 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 Biotron Limited (ASX: BIT) share price is rocketing upwards today after the company announced its lead clinical asset successfully treated COVID-19 symptoms in mice as part of a study.

In the study, the drug, BIT225, was found to reduce viral load in the lungs when administered orally. BIT225 has also undergone a successful cell-based study, exhibiting its effectiveness against the virus.

At the time of writing, the Biotron share price is 8.7 cents, 70.6% higher than its previous close. However, earlier this morning it reached 9.5 cents – representing an 86% gain.

Let’s take a look at today’s news from the biotechnology company.

Biotron share price leaps on positive COVID studies

The Biotron share price is surging higher on news its drug – which is at mid-stage development for the treatment of HIV-1 and Hepatitis C virus – has demonstrated the ability to battle COVID-19 in animal and cell-based studies.

As part of the studies, mice infected with COVID-19 were given BIT225 orally.

The mice treated with BIT225 were found to have a significantly reduced virus load in the lungs and blood compared to the study’s controls.

The drug was also shown to reduce the ‘cytokine storm’ associated with COVID-19. Generally, pro-inflammatory cytokines are linked to severe illness and death in people infected with COVID-19.

Finally, treating COVID-19-infected mice with BIT225 was found to stop weight loss generally associated with COVID-19 infections in mice. In fact, the animals treated with BIT225 gained weight in line with growth expectations through the course of the study.

Additionally, BIT225 has been tested in cell cultures to determine its effectiveness against COVID-19’s Delta strain.

The data from the in-vitro study found BIT225 reduced the Delta virus in cell cultures by more than 99.99%.

Biotron is now talking with its United States-based advisors and consultants to expedite BIT225’s progression into human trials for the treatment of COVID-19.

BIT225 is an oral drug, suitable for once-a-day dosing, and has a well characterised safety profile. Formal pre-clinical studies have assessed safety over 24 weeks of dosing.

Right now, the Biotron share price is around 8% higher than it was at the start of 2021.

The post The Biotron (ASX:BIT) share price just exploded 86% on COVID drug update appeared first on The Motley Fool Australia.

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• Here’s why the Serko (ASX:SKO) share price is crashing 10% lower today
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• Here’s why the Adairs (ASX:ADH) share price is rocketing 8% this morning

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

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Copper shares have been a winning investment for shareholders so far this year. The combination of an increased push towards clean energy technology and a constrained supply has resulted in upwards momentum in the copper price.

Since the beginning of the year, ASX-listed companies such as OZ Minerals Limited (ASX: OZL), Sandfire Resources Ltd (ASX: SFR), and 29Metals Ltd (ASX: 29M) have all rode the copper wave. To the delight of shareholders, this has meant returns in excess of the S&P/ASX 200 Index (ASX: XJO).

Recently, one Sydney-based fund manager shared their optimism for copper shares with investors. In its October report, Perennial Partners highlighted their forecast of a positive outlook for copper in the long term. A key reason for this estimation is the growing push behind the green energy transition.

Do copper shares still have room to grow?

Perennial Partners have been managing money for over 20 years, endeavouring to deliver market-beating returns through its numerous funds. In the October report for the Perennial Value Australian Shares Trust fund, the team shared their take on the reddish-brown metal.

During the month, the fund saw gains of more than 10% in its holdings of OZ Minerals and 29metals. Additionally, South32 Ltd (ASX: S32) gained 1.1% in October after it took a 45% stake in the Sierra Gorda mine in Chile. Despite the strong performance, the fund has maintained its overweight exposure to the materials sector relative to the index.

The fund manager informed its investors that it is expecting a long-term positive outlook for copper shares. This is driven by an underlying increase in the demand for the metal due to the electrification theme. At the same time, Perennial expects supply will remain tight.

Supporting this belief, research conducted by Jefferies analyst Christopher LaFemina, indicated marginal copper production growth in the September quarter. Of the mining giants that have reported production numbers, supply had increased only 0.9% year-on-year.

Sharing in Perennial Partners’ assessment, LaFemina said:

We are bullish copper over the medium term due to growing global demand and underappreciated supply constraints.

In the short term

Copper shares have largely traded sideways since October on demand fears stemming from China. The downfall of property development in the region has weighed on the metal.

China is the world’s largest consumer of copper, with the real estate sector accounting for a significant portion of this use. Uncertainty around how China’s Evergrande fallout will play out has likely compounded these worries.

The post Investing for the future: why this fundie is optimistic on copper shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Imugene Limited (ASX: IMU) share price is flat at 52.5 cents in early trade today after finishing 4.5% in the red yesterday.

However, shares in the biopharma company have climbed 17% in the past month. They are also up 81% since the start of August, adding to their impressive run in the last year.

A string of fundamental updates from the company has investors placing bids to secure a spot in Imugene. Let’s take a closer look at what’s been driving returns lately.

What’s up with Imugene lately?

The Imugene share price started rising again in mid-October, bouncing off a low of 39.5 cents. Back then the company released an investor presentation on its technology and treatment platforms.

Even with the company’s operations and clinical trial milestones on full display, investors had a dull reaction to the update.

Although, investors have been rewarding ASX health care shares these past few months, indicating strengths in the broad sector. For instance, around the same time in October, the S&P/ASX 200 Health Care index (ASX: XHJ) also sprung off its low and accelerated north.

Imugene then announced its strategic partnership with clinical-stage biotechnology company Eureka Therapeutics on November 1. The pair are set to explore the therapeutic potential of combining technologies for the treatment of solid tumours. The Imugene share price jumped on the news.

Following this, Imugene advised of a new clinical supply agreement with pharmaceutical giants Merck KGaA (ETR: MRK) and Pfizer Inc (NYSE: PFE).

Merck has been on the quest to develop novel treatment solutions in oncology over the past few years, so too has Pfizer. As such, the trio will investigate Imugene’s HER-Vaxx therapy in combination with Avelumab, co-developed by Pfizer and Merck.

Whereas HER-Vaxx is specifically designed to treat tumours, Avelumab works by blocking a certain molecule that suppresses the immune system.

The Phase 2 trial will investigate how effective HER-Vaxx and Avelumab are as a combination therapy with chemotherapy versus placebo with a certain type of gastric/gastroesophageal cancer.

Imugene share price snapshot

After closing as high as 60.5 cents on 9 November, the Imugene share price has cooled off and marched back to its current levels.

Imugene shares have soared more than 377% in the past 12 months and 425% this year to date.

Despite this, they have levelled off in the past 2 weeks and are down around 3% in the past week. It hasn’t been all downhill in this time, however, with the share still closing on top on a number of trading days.

For context, the S&P/ASX 200 index (ASX: XJO) has gained around 10% over the past 12 months and 12% this year to date.

The post The Imugene (ASX:IMU) share price has rocketed 80% since August. Here’s why appeared first on The Motley Fool Australia.

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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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The Life360 Inc (ASX: 360) share price has returned from its trading halt and is tumbling lower.

In early trade, the mobile app maker’s shares were down as much as 9% to $12.33.

Why is the Life360 share price sinking on Thursday?

The catalyst for the weakness in the Life360 share price on Thursday has been the completion of the institutional component of its fully underwritten A$280 million capital raising.

According to the release, Life360 has raised A$88.7 million via its institutional entitlement offer and a further A$160.2 million through an institutional placement at $12.00 per new share. This represents an 11.1% discount to the Life360 share price prior to its trading halt.

Management advised that the capital raising received strong demand from both existing and new investors.

A fully underwritten retail entitlement offer, which will raise approximately A$31.1 million, will open on Tuesday 30 November.

Why is Life360 raising funds?

The proceeds from the capital raising will be used to acquire 100% of items tracking company Tile for a purchase price of up to US$170 million plus up to US$35 million in retention awards, representing a total consideration of up to US$205 million. This is the equivalent of approximately A$282.8 million.

Management notes that the combination of Life360 and Tile creates an integrated market leader in location solutions for all life stages. This enables a seamless experience for families that integrates people, pets and things.

It also highlights that Life360 will be the only vertically integrated, cross-platform solution of scale in the market and will be well-placed to take advantage of the growing location solutions category.

Life360’s Founder and CEO, Chris Hulls, commented: “We are delighted with the overwhelming institutional take up of our entitlement offer for the acquisition of Tile. We are grateful for the support of our existing shareholders, and pleased to welcome new shareholders to the register. Together they have demonstrated pleasing confidence in our vision of integrated location solutions for all life stages, enabling a seamless experience for families that integrates people, pets and things. We are excited to welcome the Tile team into the Life360 circle and look forward to working together to deliver our market leading solutions so that families can live fully.”

Are Life360’s shares in the buy zone?

The team at Morgan Stanley was pleased with the acquisition. In response, the broker retained its overweight rating and lifted its price target to $16.50.

Based on the current Life360 share price, this implies upside of ~33% over the next 12 months.

The post Why the Life360 (ASX:360) share price is sinking 9% today appeared first on The Motley Fool Australia.

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The Adairs Ltd (ASX: ADH) share price is rocketing in morning trade, up 8%.

Below we look at the acquisition announcement from the ASX home furnishings company that looks to be driving investor interest.

What acquisition was announced?

The Adairs share price is soaring after the company reported it is acquiring Aussie furniture retailer Focus on Furniture for an Enterprise Value (EV) of $80 million.

The debt free acquisition will see Adairs pay $74 million in cash alongside a $6 million share placement to Focus’ CEO, Rob Santalucia, who will remain at the helm of Focus.

Focus has 23 stores in Australia with revenue of more than $150 million in the 2021 financial year (FY21). The current management team will remain with Focus and the store network will operate independently of Adairs.

The Adairs share price may also be getting a boost from the company’s expectation that the acquisition will immediately lead to growth in EPS (earnings per share), forecasting that it will deliver “pro forma double-digit EPS accretion in FY23”, its first full year of ownership.

Commenting on the acquisition, Adairs’ CEO Mark Ronan said:

Focus builds out our product offering in the key area of home furniture and increases the exposure we have to that market by almost three times. The Adairs Group now comprises a highly profitable and aligned portfolio of brands with significant growth potential targeting the middle market in the home category in Australia and New Zealand.

The acquisition will be earnings per share accretive from day one and we see strong growth opportunities that have the potential to drive sales of $250 million plus over the next 5 years.

The company stated that its dividend payout policy would remain at the existing 65–80% of net profit after tax (NPAT) following the acquisition.

Adairs share price snapshot

The Adairs share price has gained 14% over the past 12 months, just edging out the 12% gains posted by the All Ordinaries Index (ASX: XAO) in that same period.

Over the past month Adairs shares are down 3%.

The post Here’s why the Adairs (ASX:ADH) share price is rocketing 8% this morning appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS 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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The Westpac Banking Corp (ASX: WBC) share price is in the red this morning. This comes amid the release of an independent report highlighting “material shortcomings” in the Westpac New Zealand board’s risk governance.

The report has led the Reserve Bank of New Zealand (RBNZ) to criticise the Westpac New Zealand board.

Westpac has accepted the report’s findings. The bank stated it is already addressing the recommendations.

At the time of writing, the Westpac share price is $21.68, 0.55% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is edging 0.01% higher, while the All Ordinaries Index (ASX: XAO) is sporting a 0.06% gain.

Let’s take a look at today’s news.

Westpac share price slumps amid RBNZ criticism

The Westpac share price is slipping amid the bank’s admission its New Zealand board “fell short” in risk governance practices.

The report was commissioned by Westpac New Zealand under instruction from the RBNZ and created by consulting firm Oliver Wyman.

Its creation stemmed from the RBNZ’s concerns over Westpac New Zealand’s material compliance issues. The RBNZ stated the report has confirmed those concerns were warranted.

RBNZ deputy governor and general manager of financial stability Geoff Bascand commented on its findings:

The report’s findings highlighted material risks to effective risk governance and noted that the role played by the board fell short of the standard expected of an organisation of the bank’s scope and scale. In some cases, issues that had been acknowledged by the board for several years had not received due attention or effective remediation.

Bascand also said the report had identified “historic underinvestment in risk management capabilities” at Westpac New Zealand and noted investment appeared to be reactive, not strategic.

What did Westpac say?

In response, Westpac New Zealand chair Pip Greenwood, who took up the role last month, said following through on the report’s recommendations was a priority:

We have always aimed for high standards of risk governance but acknowledge that in the instances identified we fell short…

We’re united in our determination to keep lifting capability in this area and will continue to work constructively with the RBNZ on these matters and ensure they are up to speed with our progress and support our plans.

Since Westpac New Zealand commissioned the review, it has welcomed a new chair and 6 new directors.

A second independent report commissioned by Westpac New Zealand under order of the RBNZ will be published in the first half of 2022. It will assess the actions Westpac New Zealand has taken to improve its liquidity risks.

The post Westpac (ASX:WBC) share price slips amid ‘material shortcomings’ finding appeared first on The Motley Fool Australia.

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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 Westpac Banking Corporation. 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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