The Electro Optic Systems Holdings Ltd (ASX: EOS) share price is in the red today.

Meanwhile, the company’s founder and CEO, Dr Ben Greene, has reportedly made note of overlooked advantages of the newly formed AUKUS pact.

At the time of writing, the Electro Optic share price is trading at $3.42, 0.29% lower than its previous close.

That’s a better performance than the broader market. Right now, the S&P/ASX 200 Index (ASX: XJO) is down a massive 2.2% while the All Ordinaries Index (ASX: XAO) has fallen 2%.

Let’s take a closer look at the comments attributed to the communication, defence, and space technology company’s boss.

A quick refresher

Australia, the United States, and the United Kingdom recently announced a new security pact between the 3 nations. The pact will see them jointly patrolling the Indo-Pacific region.

The nations announced the pact on 16 September. At the time, ABC News reported the deal would see the trio bolstering Australia’s defence capabilities.

The headline news included a fleet of nuclear-powered submarines. The submarines will join Australia’s defence arrangements, courtesy of the alliance.

Electro Optic CEO bullish on AUKUS pact

The Electro Optic share price is slipping today amid reports the company’s leader is bullish on the benefits of the AUKUS alliance.

According to a report in The Australian, the veteran CEO said most people were focusing on Australia’s plan for nuclear-powered submarines.

However, the pact would also boost Australia’s defence exports and its strategic positioning.

Greene reportedly made the comments recently at a celebration of the anniversary of the ANZUS treaty. The Australian quoted him as saying:

There is a significant growth element for Australian defence industry where they have the tech base to be able to contribute…

The Australian defence ­industry ecosystem is on the small side but has wonderful technology. This is an opportunity for some companies to be given growth opportunities so they can achieve much greater levels of scale and revenue.

Greene also said the pact would create opportunities for smaller defence companies to grow at never-before-seen speed, noting he believed the next military frontier would be space:

There will be a huge emphasis in acceleration in the intelligent use of space to make more cost-­effective defence programs on the ground and in the air.

Electro Optic share price snapshot

Today’s slight dip has worsened the company’s unfortunate year on the ASX.

Right now, the Electro Optic share price is trading for 42% less than it was at the start of 2021. It has also fallen 36% since this time last year.

The post Electro Optic Systems (ASX:EOS) share price dips as CEO spruiks AUKUS 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. owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings 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 Commonwealth Bank of Australia (ASX: CBA) share price is down on Friday as the S&P/ASX 200 Index (ASX: XJO) was quick to reverse yesterday’s gains.

At the time of writing, the CBA share price is down 4.33% to $99.75, bringing its returns for the past month to -1.21%.

Today’s losses greatly overshoot the broader ASX 200, which is currently down 2.08% to a 4-month low of 7,182.

What’s driving the CBA share price lower?

The Australian Bureau of Statistics (ABS) released fresh data this morning about new borrower-accepted finance commitments for housing, personal and business loans for August.

The report flagged that new loan commitments, from a month-on-month perspective:

• Fell 4.3% for housing
• Fell 2.5% for personal fixed term loans
• Plunged 26.4% for business construction

Breaking down housing finance, the report flagged that owner-occupier housing fell 6.6%, the largest decline since May 2020. While investor housing itched 1.5% higher.

Overall, total housing fell 4.3%, which again, is the largest fall since the pandemic outbreak.

Total housing finance has boomed off the back of solid economic recovery and a red hot housing market. To add some perspective, new loan commitments for housing, seasonally adjusted, doubled from May 2020 lows of $16.66 billion to a peak of $32.56 billion by May 2021.

During this time, the CBA share price rallied more than 50% from pandemic lows of $60 to well over $100 by mid-June this year.

But it looks like the CBA share price has hit a wall amid a slowdown in demand for loans.

The Reserve Bank of Australia noted similar trends in its September monetary policy meeting with members flagging that the “current lockdowns were likely to affect demand for new loans in the coming months.”

Members also added that “given the environment of rising housing prices and low interest rates, members continued to emphasise the importance of maintaining lending standards and carefully monitoring trends in borrowing.”

The post Why the CBA (ASX:CBA) share price is down 4% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 Boss Energy Ltd (ASX: BOE) share price has taken a tumble over the last fortnight despite no news having been released by the uranium producer.

The company’s stock is dipping alongside the price of uranium. The commodity’s spot price peaked 2 weeks ago today and has been falling since.

In a similar pattern, Boss Energy’s shares hit a new 52-week high of 58 cents on 16 September. In fact, over the 30 days ended 17 September, Boss Energy’s stock gained a massive 150%.

However, Boss Energy’s stock’s value has fallen 30.88% over the last fortnight.

At the time of writing, the Boss Energy share price is 24 cents, having gained 2.1% so far.

Let’s take a look at what’s been driving Boss Energy’s stock down lately.

Why is the Boss share price falling?

The Boss Energy share price is dipping as uranium’s day in the sun seemingly comes to a close.

The uranium spot price reached US$50.80 – its highest price since 2013 – on 17 September.

Uranium’s surge seemed to have been spurred by Canadian Fund, Sprott Physical Uranium Trust. The trust has been snapping up huge amounts of the commodity off the spot market.

Additionally, as the Wall Street Journal reported, nuclear energy, of which uranium is the key, might have a part to play in decarbonisation.

The commodity could have been boosted by the same influences that saw copper, nickel, and lithium prices surge recently.

Unfortunately, since the spot price of uranium peaked on 17 September, its bullish run has seemingly ended. It has since fallen 18% to US$43.

The Boss Energy share price isn’t the only uranium-focused stock that’s been dipping over the last 14 days.

Those of fellow uranium explorers Deep Yellow Limited (ASX: DYL) and Peninsula Energy Ltd (ASX: PEN) have fallen comparable amounts over the last 2 weeks.

The post Why has the Boss Energy (ASX:BOE) share price tanked 30% in 2 weeks? appeared first on The Motley Fool Australia.

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• Why ASX uranium shares are diving double-digits on Monday

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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The ASX share market is struggling today as the S&P/ASX 200 Index (ASX: XJO) seals its first monthly decline since September 2020.

It appears Wall Street has paved the way for today’s sharp decline, with its major indices opening slightly higher before fading heavily by market close.

The S&P 500 Index (SP: .INX), Dow Jones Industrial Average Index (DJX: .DJI) and Nasdaq Composite Index (NASDAQ: .IXIC) all closed near session lows, down 1.19%, 1.59% and 0.44% respectively.

At the time of writing, the ASX 200 is down 2.11% at 7177 points. Let’s look at some of the factors that might be weighing the market down today.

Why the ASX share market is struggling to bounce

Interest rate hikes on the horizon

The US Federal Reserve signalled last week that it may begin raising the benchmark interest rate in late 2022.

Equity markets, more notably tech and richly valued growth shares have thrived under ultra-low interest rates.

With potential looming interest rate hikes on the horizon, investors have been quick to rotate away from these sectors.

In the last week, the S&P/ASX Information Technology (INDEXASX: XIJ) and S&P/ASX Health Care (INDEXASX: XHJ) have logged hefty declines, tumbling 6.41% and 6.09% respectively.

Iron ore woes continue

ASX 200 iron ore heavyweights BHP Group Ltd (ASX: BHP), Fortescue Metals Group Ltd (ASX: FMG) and Rio Tinto Limited (ASX: RIO) have weighed on the broader commodities sector as iron ore plunged from May all-time highs of US$230 a tonne to around US$120 a tonne this week.

The iron ore majors continue to bleed amidst weak economic data from China, with all three iron ore majors falling between 2.4% and 3.5% on Friday.

Lending indicators plateau

Australia’s lending indicators for new borrower-accepted finance commitments for housing doubled between March 2020 lows and June 2021.

But the once bullish lending indicators might have hit a near-term top with the latest figures from the Australian Bureau of Statistics (ABS) signalling a broad pullback in new loan commitments.

New borrower-accept loan commitments for housing declined 4.3% month-on-month while personal fixed-term loans also declined 2.5%.

This might also be a reason why the Commonwealth Bank of Australia (ASX: CBA) share price has plunged 4.29% to $98.85 at the time of writing.

The post What is weighing the ASX share market down today? appeared first on The Motley Fool Australia.

More reading

• Why has the Boss Energy (ASX:BOE) share price tanked 30% in 2 weeks?
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• Why is the Li-S Energy (ASX:LIS) share price sliding 9% today?

Motley Fool contributor Kerry Sun 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 Virgin Money UK CDI (ASX: VUK) share price has been a particularly poor performer on Friday.

In afternoon trade, the UK bank’s shares are down 6% to $3.79.

Why is the Virgin Money UK share price tumbling?

There appear to have been a couple of catalysts for the weakness in the Virgin Money UK share price on Friday.

One is broad market weakness, which is being felt more than most in the banking sector. For example, the Commonwealth Bank of Australia (ASX: CBA) share price is down 4% at the time of writing.

Another potential catalyst for the Virgin Money UK share price weakness could be the release of an announcement after the market close on Thursday.

What did Virgin Money UK announce?

According to the release, Virgin Money UK has decided to accelerate its digital strategy in order to enable greater efficiency and drive up levels of digitisation across the bank. This is with the aim of further developing a strong, scalable platform for future growth.

This plan is going to come at a cost, though. The release explains that restructuring charges for FY 2021 are now expected to be ~GBP145 million in total with an additional ~GBP45 million booked in the fourth quarter.

Where do the new charges come from?

Part of the strategy will see the bank close almost a fifth of its branches in the coming months. Virgin Money UK has identified 31 stores out of the 162 in its network which will be closed. This is expected to cost ~GBP25 million.

The bank will also be embracing the work from home initiative. This will result in lower office space requirements, with infrastructure and office hubs re-purposed to fit new ways of working.

After applying valuation adjustments and including other operating model changes, the bank expects to incur a ~GBP20 million restructuring charge in the fourth quarter from these changes.

However, management believes these costs will be worth it in the long run.

It explained: “The Group’s digital strategy will further develop a strong, scalable platform for future growth. In the near term, cost savings from improved productivity delivered by Virgin Money UK’s digital initiatives will be reinvested into the business to further accelerate the pace of platform development. Virgin Money UK will also leverage the capabilities of its key strategic partnerships, such as those announced with Global Payments and Capita, to deliver additional features and differentiated propositions for customers.”

The Virgin Money UK share price is up 61% in 2021 despite recent weakness.

The post Why the Virgin Money UK (ASX:VUK) share price is sinking 6% 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. 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 Flight Centre Travel Group Ltd (ASX: FLT) share price is currently up as international borders may reportedly open sooner than expected. That compares to the S&P/ASX 200 Index (ASX: XJO) which is currently down around 2.2%.

What’s happening with international borders?

It is being reported across the major media outlets, such as the Australian Financial Review, that Prime Minister Scott Morrison is going to announce that international travel is soon going to open up for fully vaccinated Aussies.

The reporting says that Australians will be able to leave Australia. People stuck in other countries will also be able to return easier.

However, this is only when the double vaccination rate of 80% has been reached. The international borders will lift on a state by state basis when that region reaches its own 80% level. NSW and ACT are expected to be the first two places to reach the required vaccination rate to allow international travel.

The plan is that the international border is going to be open before Christmas. Part of the plan could include arrivals going through home quarantine rather than hotel quarantine.

The Flight Centre share price is still down almost 40% from the pre-COVID level, so international travel may have its part to play in a recovery.

Not all state leaders have signed up to the international travel plan just yet.

The Guardian quoted Queensland Premier Ms Palaszczuk from her news conference, she said:

I’m not going to agree to anything when I haven’t seen any formal paperwork. It would be irresponsible and I think that Queenslanders would expect me to see some paperwork, to understand the issues before an announcement is made. So it’s a bit disappointing that we haven’t been given that due courtesy before National Cabinet.

What I’ve said clearly and Dr Young has said this and the Health Minister has said this. We need to be in a situation where every eligible person, so every eligible person in that cohort is offered a vaccine.

How is Flight Centre’s profit going?

There wasn’t a profit in FY21. It made an underlying loss of $507 million, with almost $4 billion of total transaction value (TTV).

However, it did say that the recovery is gaining momentum, particularly in the corporate sector and in the US. In its FY21 result, it said that it was seeing month-on-month sales revenue growth despite lockdown and heavy restrictions, ending with a COVID-period record in June 2021.

By the year end, corporate TTV was tracking at 40% of pre-COVID levels globally.

Flight Centre is targeting a return to monthly profitability in both corporate and leisure during FY22. The company is looking to the resumption of further global international travel, with a potential material benefit from the trans-Atlantic route opening.

Its profitability hopes rely on vaccination efficacy, governments reopening borders and keeping them open.

Is the Flight Centre share price a buy?

Citi isn’t sure that it is, with a neutral rating and a price target of $16.94. That suggests the broker thinks Flight Centre shares could fall around 20% over the next 12 months.

Whilst Citi is expecting Flight Centre to benefit from the travel recovery, it doesn’t think the old Flight Centre model will be as effective.

The post The Flight Centre (ASX:FLT) share price is in the green today. Here’s why 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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel 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 NIB Holdings Limited (ASX: NHF) share price is sliding today and currently trades 2.87% down at $6.77 apiece.

NIB shares are struggling in early trade after the insurance giant released its FY21 annual report before the market’s open.

The company had already released its FY21 earnings in August, however, a more detailed overview of FY21 operations is contained in NIB’s annual report.

NIB share price slides despite strong profit growth in FY21

It was a strong year for NIB’s operating performance, as it recognised growth across all measures of profitability in FY21.

Its premium revenue came in at $2.2 billion for the year, up almost 5% from FY20. This was backed by investment income growth of 212%, which contributed a healthy $51.8 million to its earnings.

Underlying operating profit gained almost 40% to $205 million, which carried through to an 85% year on year gain in net profit after tax (NPAT).

Another takeout from its annual report is that NIB generated a return of 7.9% on the capital it invested throughout the year. That’s a total of $19.1 million, and in line with the figure for FY19.

That’s important to know because it’s well above the $2 million annual interest expense NIB has on its debt.

With this momentum, the board was able to declare a 14 cents per share final dividend.

This brings the full year dividend for FY21 to 24 cents per share, with NIB paying out 68% of NPAT in dividends to shareholders.

Investors will realise this dividend into their brokerage accounts on 5 October, or participate in the dividend reinvestment plan (DRIP), if eligible.

Aside from this, NIB also remains committed to sustainability, by taking a number of steps to improve its ESG framework.

For instance, it has invested over $2.7 million in community funding, including “a $1 million NIB foundation investment towards chronic disease prevention”.

It also developed a Responsible Investment Policy that aims to improve how the company screens sustainability factors in its investment portfolio.

What’s next for NIB?

NIB has committed to becoming carbon neutral by the end of FY22, by reducing its overall carbon emissions.

It also sees continuing challenges over the next year, as the COVID-19 pandemic continues to mark uncertainty for the company.

As such, the company has revised its forecasts on its travel business, due to ongoing uncertainties on border restrictions.

Its set revenue forecasts are in line with external industry forecasts and federal budget expectations. NIB assumes a gradual recovery in travel volumes, with a “full return to pre-COVID levels in FY24”.

NIB shares have climbed 14% this year to date, and have edged almost 0.5% higher this past month.

The post NIB (ASX:NHF) share price struggles as despite big profits in FY21 appeared first on The Motley Fool Australia.

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The author Zach Bristow 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 recommended NIB Holdings 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 Li-S Energy Ltd (ASX: LIS) share price is tumbling again today despite no news having been released by the ASX newbie.

Li-S Energy floated on the ASX on Tuesday, gaining a massive 175% on the day of its initial public offering (IPO).

It gained another 3.85% on Wednesday before falling 14.8% yesterday.

The plunge is continuing into today’s session. At the time of writing, the Li-S Energy share price is $1.90, 8.21% lower than its previous close.

However, that’s still 123% higher than its prospectus’ offer price of 85 cents per share. That offer price saw Li-S Energy raise $34 million through its IPO.

Let’s take a closer look at the lithium-sulphur battery technology company’s first week on the ASX.

What’s up with the Li-S Energy share price?

Li-S Energy’s shares are in the red for the second day in a row despite the company’s silence.

Li-S Energy debuted on the ASX on Tuesday, delighting market watchers when its stock’s value soared to finish its first day’s trade at $2.34.

In fact, the company’s stock set its first, and so far only, record high of $3.05 in intraday trade on Tuesday.

However, the market might have since calmed down from its initial excitement. The Li-S Energy share price has tumbled on Thursday and Friday, though it’s still miles above its offer price.

Currently, Li-S Energy has a market capitalisation of around $1.2 billion. That’s impressive considering the company has anticipated it would float with a market capitalisation of around $544 million.

Oddly enough, the company from which Li-S Energy spawned – PPK Group Limited (ASX: PPK) – has been struggling on the ASX this week.

The PPK share price has been falling all week despite Li-S Energy’s successful float. PPK owns 45.4% of Li-S Energy’s stock.  

The PPK share price is currently 18% lower than it was at last Friday’s close.

The post Why is the Li-S Energy (ASX:LIS) share price sliding 9% today? 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 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 AGL Energy Limited (ASX: AGL) share price had yet another disappointing month, falling to a multi-decade low of $5.22. Investors have continued to dump the energy company’s shares leading to a 10% loss for September.

At the time of writing, AGL shares are adding more pain to shareholder portfolios, down 0.26% to $5.77 apiece.

What’s happening with AGL lately?

It’s been a relatively quiet couple of months for the company, with its last market-sensitive news being its full-year results.

However, a catalyst dragging down AGL shares might be tough conditions for the national electricity market along with unstable electricity prices.

The company previously noted that a sharp decline in wholesale prices for electricity and renewable energy certificates affected its financial performance.

AGL regards the energy market in the 2021 financial year as one of the most difficult on record.

In addition, the increased demand to decarbonise its operations has impacted Australia’s largest carbon emitter. Nonetheless, management plans to turn things around as AGL becomes a more agile business.

At its Annual General Meeting (AGM) last week, the majority of shareholders voted in favour of AGL setting emissions targets. This is in accordance with the Paris Agreement which sets out a global framework to avoid dangerous climate change.

Shareholders strongly opposed the AGL board’s recommendation to vote against adopting decarbonisation targets.

In other news, AGL plans to transform the Liddell coal-fired power station into a hydro and solar energy facility after Liddell’s shutdown in 2023.

Only time will tell if the AGL share price can recover to its pre-COVID highs of about $20.

About the AGL share price

In 2021, the AGL share price has continued to plummet in value, losing more than 50% for investors. Over the past 12 months, its shares are deeper in the red and down almost 58%.

On valuation grounds, AGL presides a market capitalisation of approximately $3.8 billion, with approximately 658 million shares on its books.

The post Why did the AGL share price have such a lousy month in September? appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Thursday night to discuss the best day in 10 months on the ASX (but the first negative month in a year), plus the bounce in banking and resources, and Zip Co Ltd (ASX: Z1P) inking a deal with Microsoft Corporation (NASDAQ: MSFT).

The post The best day in 10 months, and Zip’s Microsoft deal. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Scott Phillips 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 Microsoft and ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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