The Ansell Limited (ASX: ANN) share price climbed 5% in early morning trade. This comes after the company announced a trading update and upgraded guidance for FY21.

At the time of writing, the safety products company’s shares have retreated slightly, trading for $41.18, up 4.7%.

What did Ansell announce?

Investors are driving Ansell shares higher after digesting the company’s latest positive announcement.

According to its release, Ansell advised that it’s continuing to see strong global demand for its personal protection equipment (PPE). Key capacity expansions remain on track to meet the increasing need for PPE as COVID-19 still dominates the world today.

The company revealed that since January 2021, financial metrics have been better than expected. As a result, Ansell highlighted its operational performance for the period as:

• Successful management of COVID-19 at all manufacturing locations resulting in limited downtime or employee disruption to date.

• Increases in raw material and outsourced supplier costs for Exam/SU has been well managed.

• Mechanical and Surgical SBUs continuing to recover faster than previously foreseen, and Chemical and Life Sciences are performing well.

• Customers receiving products despite constraints in raw material supply and disruptions in ocean freight capacity, resulting in delayed transportation transit times.

• Lower than anticipated travel and marketing spend due to travel restrictions remaining in place.

Based on the above developments, the company is projecting the second-half of FY21 year-on-year sales growth to be robust. Current estimates put the business to record a 24.5% growth in sales over the prior period (H1 FY21).

In addition, full-year earnings per share (EPS) is predicted to be in the range of US$1.92 to US$2.02. This is a significant lift from the previous guidance of US$1.60 to US$1.70 announced in mid-February.

Ansell will release its full-year results along with its FY22 guidance on 24 August 2021.

About the share price

The Ansell share price has been a stellar performer in the last 12 months, rising 34%. While most of these gains are attributed to the early part of May 2020, year-to-date gains sit at around 13%.

Based on the current share price, Ansell presides a market capitalisation of approximately $5.05 billion, with 128.5 million shares outstanding.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell 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.

Cathie Wood’s focus on disruptive technology has made her one of the most-watched investors in the industry. Her firm, ARK Invest, operates several exchange-traded funds (ETFs) based on this philosophy, and one of the top holdings in Wood’s Ark Fintech Innovation ETF, at right around 4%, is PayPal Holdings (NASDAQ: PYPL).

Despite being a household name, PayPal is still growing, and 2020 was its best year on record. The pandemic showed more consumers the value — and necessity — of digital payments, and PayPal was well-positioned to benefit from that trend. While many companies may find 2021 challenging as they lap ultra-high pandemic-related growth, this fintech giant is likely to continue its growth streak, and it’s a stock you should consider.

Fintech for everyone

PayPal is the original online peer-to-peer payments service, and individual accounts make up one segment of the company’s operations. It has made a string of acquisitions over the past few years, and now owns popular peer-to-peer payments app Venmo and price comparison plug-in Honey. Its other segment is merchant accounts, which powers credit card and other payments.

PayPal ended 2020 with 377 million active accounts (that’s more than the U.S. population) and 29 million merchant accounts. Total payment volume (TPV) was $936 billion, as compared with competitor Square‘s $112 billion. But there’s good reason to believe that there’s more to come.

In 2020, TPV  increased 31% and sales increased 21%. Earnings per share rose 71%, and the company added more than 73 million net new accounts. Management is expecting TPV growth to be in the high 20’s, and revenue to increase 19% in 2021. It sees revenue more than doubling by 2025 to $50 billion, with a total addressable market of $110 trillion.

PayPal doubled its active accounts in the five years ending with 2020. Even if it doesn’t match that in the coming five years, it is expecting to add 50 million new accounts in 2021, and more and more people are catching on to digital shopping and mobile wallets. And the company added thousands of new merchants who now offer PayPal checkout. In an internal survey, PayPal found that that 54% of customers are more likely to complete a purchase if PayPal is an option, and 59% have abandoned a transaction because PayPal wasn’t an option.

Of course, this happened during a pandemic year when shoppers and individuals needed to rely on digital forms of payment. But all data indicates that the trend will continue. McKinsey research found that customers have been increasingly moving toward digital payments, with the biggest growth in people using more than one digital payment type. And PayPal knows it. Earlier this year, CFO John Rainey said, “The next five years will be very different than the last five, and we’re striving to shape that outcome … where e-commerce and digital payments are not just a fallback … but instead a necessity, a necessity that is sought out as the preferred way for people to transact every single day.” 

Between these tailwinds and PayPal’s position as the dominant player in the industry, there’s a lot to expect from PayPal in the coming years.

Cryptocurrency and more 

Last week, PayPal launched cryptocurrency trading on Venmo. This is a direct response to Square’s Cash App, which offers cryptocurrency and stock trading. But it’s also an important move to get more value out of the app. Internal data found that 30% of Venmo users already trade cryptocurrency, and now PayPal gets a piece of the pie.

Cryptocurrency trading has gained in popularity, and the price of Bitcoin increased to nearly $64,000 before falling back this week. (By the way, Cathie Wood is also bullish on Bitcoin — three Ark funds hold a combined 2.4 million shares of cryptocurrency exchange Coinbase Global, which just went public two weeks ago.) And Venmo has played an important role in PayPal’s success, with TPV growing 60%. Account holders can now use a Venmo card, and the company has otherwise improved the Venmo experience.

In general, PayPal innovates regularly and easily. This is one of the keys to its success both past and future. Each new feature PayPal develops goes into its millions of customers’ accounts and adds so much more value to the company. It already has a broad suite of products and services, and it envisions an “inclusive digital currency ecosystem.” 

PayPal stock has gained more than 120% over the past year, and between its huge and growing customer base and new features, investors can expect more growth in the future.

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

More reading

• PayPal will target cross-border payments in China
• Square’s ready to take on PayPal
• Afterpay (ASX:APT) share price sinks despite new product launch

Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin, PayPal Holdings, and Square and recommends the following options: long January 2022 $75 calls on PayPal Holdings. The Motley Fool Australia has recommended PayPal Holdings. 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.

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The SG Fleet Group Ltd (ASX: SGF) share price is on the move in early trade. Shares in the Aussie fleet management and novated leasing company are steady this morning despite a capital raising update before the bell.

Why is the SG Fleet share price worth watching?

SG Fleet this morning announced the successful completion of its retail capital raising. The company raised $15 million under the 1 for 7.44 pro rata, accelerated, non-renounceable offer announced on 31 March 2021.

That money was raised at $2.45 per share with a take-up rate of approximately 78%. The SG Fleet share price is steady at $3.02 right now despite the steep discount on the capital raise.

Including the institutional component, SG Fleet’s capital raise netted the company $86 million. Approximately 6 million new shares will be issued and allotted on Friday under the Retail Entitlement Offer.

The SG Fleet share price has been steady in early trade and will be one to watch throughout the day.

How has the company performed recently?

Prior to the market open, SG Fleet had a market capitalisation of $880.1 million and boasted a 3.4% dividend yield.

Shares in the Aussie fleet manager have surged higher in 2021, climbing 26.4% through to yesterday’s close. Those gains have come despite a disappointing half-year result which saw the company shed 7% of its market value in one day.

However, the company’s planned acquisition of LeasePlan ANZ has helped turn things around in 2021. Funds from this capital raise will go towards the $387 million purchase of the company.

SG Fleet expects the acquisition to be earnings per share (EPS) accretive in FY2022 and FY2023.

The Aussie fleet manager is targeting an enterprise value of $1.5 billion following the LeasePlan ANZ acquisition.

The SG Fleet share price is one to watch throughout the year following the takeover which will increase its fleet to approximately 103,000 vehicles across 9 locations in Australia and New Zealand.

More reading

• Why the SG Fleet (ASX:SGF) share price surged 10% today
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Motley Fool contributor Ken Hall 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 Kogan.com Ltd (ASX: KGN) share price is pushing higher on Wednesday after providing more details on its third quarter update.

At the time of writing, the ecommerce company’s shares are up 3% to $10.43.

What did Kogan announce?

This morning Kogan released a response to an ASX query.

Judging by the contents of the release, it appears as though the share market regulator was unimpressed with some of the vague statements in Kogan’s third quarter update last week.  

In case you missed it, Kogan released its third quarter update and revealed that:

• Gross Sales grew by more than 47%
• Revenue grew by more than 65%
• Gross Profit grew by more than 54%
• Adjusted EBITDA declined by more than 24%

What did the ASX say?

Listed below are a selection of ASX queries and Kogan’s answers.

“Please clarify the measured percentage increase in Gross Sales for 3QFY21 by providing the actual amount of Gross Sales separately for Kogan.com and Mighty Ape in 3QFY21, and the actual amount of Gross Sales for Kogan.com in the prior corresponding period 3QFY20”

Kogan revealed that gross sales grew 47.7% to $271.5 million during the third quarter. This comprised a 32.8% increase in gross sales from Kogan.com and the addition of $27.5 million sales from the acquired Mighty Ape business.

“Please clarify the measured percentage decrease in Adjusted EBITDA in 3QFY21 by providing the actual Adjusted EBITDA amount for the Kogan Group in 3QFY21, and the actual amount of Adjusted EBITDA in 3QFY20.”

The company advised that adjusted EBITDA fell 24.8% to $7.2 million. This comprises $5.5 million EBITDA from Kogan.com (down 42.7%) and $1.7 million of EBITDA from Mighty Ape.

Kogan was also asked to provide details on the adjustments it referenced. These adjustments include $0.1 million of unrealised FX losses, $6.3 million in equity-based compensation, $3.9 million for demurrage, and $5.1 million relating to the Mighty Ape acquisition.

“Please clarify the measured percentage increase in Revenue in 3QFY21 for Exclusive Brands; Third Party Brands; Market Place; and Kogan Mobile, by providing the actual amount of Revenue in each category in 3QFY21 and 3QFY20.”

This was an interesting one as details on these revenues are hard to come by.

Kogan revealed that Exclusive Brands revenue grew 63.9% to $88 million, Third-Party Brands revenue increase 13.6% to $60.1 million, Kogan Mobile revenue rose 23.8% to $3.5 million, and Kogan Marketplace revenue rose by 104% to $5.1 million.

Despite today’s rebound in the Kogan share price, it is still down by almost 60% from its high. 

More reading

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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 Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com 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 Premier Investments Limited (ASX: PMV) share price is on the move on Wednesday morning.

At the time of writing, the retail conglomerate’s shares are up 1% to $26.09.

Why is the Premier Investments share price on the move?

This morning Premier Investments announced the appointment of the new Chief Executive Officer (CEO) of its core Premier Retail business.

According to the release, the company has poached Richard Murray from rival retailer JB Hi-Fi Limited (ASX: JBH) on a $2 million a year salary.

Mr Murray is currently Group CEO of JB Hi-Fi and has over 25 years’ experience in retail and finance.

He joined JB Hi-Fi as Chief Financial Officer in 2003 and took the business through the IPO process. After which, he was appointed to the Board in June 2012 and became CEO in 2014.

Mr Murray will be replacing Mark McInnes, who announced his exit from the role in January after 10 years at the helm.

Mr McInnes will commence gardening leave following the completion of the 2021 full year trading period. Under the terms of his employment contract, Premier has elected to exercise a 12-month restraint ending in January 2023 and is entitled to exercise a further 12-month restraint through to January 2024.

“A new chapter”

Premier Investments’ Chairman, Mr Solomon Lew, said: “On behalf of the Board, I am delighted to announce Richard’s appointment to the role of CEO Premier Retail. Richard is unquestionably one of the best retailers in Australia, having delivered significant growth, transformation and shareholder value during his career at the JB Hi-Fi Group. Richard’s appointment continues Premier’s track record of recruiting and retaining the best executives in the industry.”

“The appointment of Richard, announced today, will enable the Board and senior leadership team to plan for a smooth and seamless transition. The Board is immensely proud of its highly skilled senior leadership team who remain fully focussed on continuing to deliver for all stakeholders. We look forward to welcoming Richard to our strong and committed team of more than 9,000 people.”

“This is the beginning of a new chapter for Premier as the Group continues to grow its brands both locally and globally while carefully managing through continued pandemic conditions across numerous jurisdictions. With a very strong balance sheet Premier is exceptionally well placed to continue to grow our existing businesses and seek out new opportunities into the future,” he concluded.

More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments 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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In morning trade, the Airtasker Ltd (ASX: ART) share price is charging notably higher.

At the time of writing, the local services online marketplace provider’s shares are up a sizeable 12% to $1.43.

Why is the Airtasker share price climbing higher?

Investors have been bidding the Airtasker share price higher today following the release of its third quarter update.

According to the release, the company’s performance was ahead of expectations and prospectus assumptions during the third quarter.

As a result, management is confident that it will exceed its prospectus forecasts and has upgraded its FY 2021 gross marketplace volume (GMV) and revenue forecasts accordingly.

Third quarter performance

For the three months ended 31 March, unaudited GMV came in at $41.2 million. This represents 57.9% of the second half FY 2021 prospectus forecast of $71.3 million.

As a result, it has lifted its full year FY 2021 GMV guidance to between $148 million and $152 million from $143.7 million.

In respect to revenue, this increase in GMV led to unaudited quarterly revenue of $7.1 million. As a result, revenue guidance has now been upgraded to between $25.5 million and $26 million from its prospectus forecast of $24.5 million.

This was driven partly by an increase in customers. Airtasker revealed that its cumulative paying customers now exceed 1 million.

Lower costs

Also giving the Airtasker share price a boost today was news that the company’s costs were below forecast during the third quarter. This led to Airtasker generating $2.1 million of positive operating cash flow for the quarter (excluding IPO costs).

Following today’s gain, the Airtasker share price is now up 120% from its IPO listing price of 65 cents.

However, it is still trading some distance from its 52-week high. Investor excitement shortly after its IPO led to the Airtasker share price rocketing as high as $1.97 in March.

More reading

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Motley Fool contributor James Mickleboro 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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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.

Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) crushed Wall Street’s estimates with Tuesday’s first-quarter earnings report, driving stock prices to fresh all-time highs.

First-quarter revenue rose 34% year over year, landing at $55.3 billion. Earnings jumped from $9.87 to $26.29 per diluted share. Your average analyst would have settled for earnings near $15.88 per share on top-line sales of roughly $51.7 billion. The targets themselves have been moving up recently. Consensus earnings estimates for this period sat at $13.84 per share three months ago, before 11 analyst firms boosted their projected earnings.

Behind the headline numbers

Some of the bottom-line gains came from an accounting adjustment. Alphabet extended the useful lives of its server hardware from three to four years while stretching the useful life of some networking equipment from three to five years. These adjustments increased diluted earnings by $0.95 per share.

The rest of the positive surprises rested on strong business results. First-quarter sales surged at least 33% higher in each of Alphabet’s four geographic regions, led by a 44% gain in the Asia-Pacific region. YouTube ad sales rose 49% to $6.0 billion and Google Search revenues increased by 30% to $31.9 billion. But in general, Google search has simply become even more popular during the pandemic.

“People have turned to Google Search more than ever since the pandemic began,” CEO Sundar Pichai said on the earnings call. “We see hundreds of millions of searches every day for COVID and related health information. People are also searching for jobs. To help them, job seekers can now use search to quickly and easily find roles that do not require a college degree. We are working together with top employment websites to make this service even better.”

Both Class A and Class C shares of Alphabet traded 4.6% higher at 5 p.m., EDT. At these prices, the pair of FAANG stocks have gained approximately 88% in 52 weeks.

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

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). 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.

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The Suncorp Group Limited (ASX: SUN) share price is on watch this morning after the company shared news it is selling its superannuation products. Suncorp Portfolio Services Limited, the company’s superannuation portfolio, will soon have a new home with LGIAsuper.

The Suncorp share price was swapping hands for $10.41 apiece at yesterday’s close.

Let’s take a closer look at today’s news from Suncorp.

Suncorp super sale

According to Suncorp’s release, the sale of Suncorp Portfolio Services Limited was proposed in the company’s recent strategic review.

Suncorp says the sale will simplify the company’s portfolio and expects it will have little impact on its profits.

LGIAsuper will pay an estimated $45 million for Suncorp’s super assets. That figure includes a fixed amount of $26.6 million, plus regulatory capital.

LGIAsuper is soon to merge with Energy Super. After the merger and the sale of Suncorp’s wealth business, the two Queensland-based businesses will have approximately $28 billion of super under administration and around 250,000 members.

The sale is expected to be completed in the 2022 financial year.

Suncorp’s CEO Steve Johnston said the sale of Suncorp’s wealth business was a good outcome for Suncorp’s 137,000 superannuation members. The company currently manages $6.4 billion of its members’ super. It was awarded the best performing balanced super investment fund for 2020.

As part of the sale agreement, Suncorp will continue to offer superannuation products to customers for 18 months after the assets are handed to LGIAsuper.

LGIAsuper will offer jobs to approximately 130 employees who are currently working directly or indirectly with the wealth business.

Suncorp expects to be saddled with around $14 million of annualised stranded costs from the sale until the end of the 2023 financial year. It expects this to be offset by traditional services fees.

Commentary from management 

Johnston stated that his goal as CEO was to improve the way Suncorp delivered insurance and banking to its customers.

This approach is already delivering results, and the wealth sale will allow the bank team to focus exclusively on the priorities we outlined at the interim result in February.

Suncorp Banking & Wealth CEO Clive van Horen added:

After extensive engagement with a number of potential acquirers, we believe that LGIAsuper is best placed to deliver sustainable member outcomes.

The values and purpose of LGIAsuper, which is also headquartered in Queensland, align closely with those of Suncorp.

Suncorp share price snapshot

Today’s news puts the Suncorp share price front and centre as investors eye the reaction. Currently, Suncorp shares are up 5% year to date and have lifted 17% over the last 12 months.

The company has a market capitalisation of around $13.3 billion, with 1.2 billion shares outstanding.

More reading

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• Why the Suncorp (ASX:SUN) share price is on watch
• Credit Clear (ASX:CCR) share price jumps 10% on Q3 update and Suncorp contract win
• 5 things to watch on the ASX 200 on Thursday
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Motley Fool contributor Brooke Cooper 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 AnteoTech Ltd (ASX: ADO) share price will be one to watch when it returns to the ASX boards. It comes after a capital raising and trading update from the Aussie biotech company prior to the market open.

Why is the AnteoTech share price on watch?

AnteoTech shares haven’t traded since closing at 42 cents per share last Friday. The company requested a trading halt pending a capital raising update which has been provided early on Wednesday morning.

AnteoTech reported firm commitments to raise $12 million by issuing 46.2 million new fully paid ordinary shares at 26 cents per share. That represents a 20.3% discount to the 10-day volume-weighted average price (VWAP). 

Funds from the placement will be used to scale up the rollout of its proprietary EuGeni reader and COVID-19 in vitro Antigen Rapid Test test (COVID-19 ART). The new capital will also help accelerate the pipeline of other assay tests and for working capital purposes.

The update is sure to have investors watching the AnteoTech share price in early trade. It comes as AnteoTech looks to accelerate its COVID-19 Saliva and COVID-19 Flu A/B test for commercialisation in late 2021. The company is targeting clinical trials in late 2021 for its early-stage sepsis detection test.

AnteoTech CEO Derek Thomson said:

AnteoTech now has the necessary financial flexibility to scale up operations and accelerate the rollout of its EuGeni reader platform and COVID-19 ART test, as well as our growing pipeline of other assay tests which will provide us with a considerable competitive advantage in the current market.

The company is also launching a Share Purchase Plan (SPP) to raise more capital to fund development and growth. The company is looking to raise an additional $4 million from eligible, existing shareholders at that same AnteoTech share price of 26 cents.

Foolish takeaway

AnteoTech closed on Friday at $0.42 per share with a $777.7 million market capitalisation. That means the AnteoTech share price will be one to watch as it returns to trading for the first time this week following the update.

More reading

• ASX stock of the day: AnteoTech (ASX:ADO) shares top ASX
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• The Anteotech (ASX:ADO) share price is surging. Here’s why.
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Motley Fool contributor Ken Hall 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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ASX iron ore miners are poised to outperform the market this morning after the price of the commodity hit a record high.

The steel-making ingredient jumped to US$193.85 a tonne in overnight trade on the S&P Global Platts index, reported the Australian Financial Review.

That’s US85 cents above the previous record set on 15 February 2011.

Big ASX mining shares set to outperform

The S&P/ASX 200 Index (Index:^AXJO) is expected to open with a 0.3% gain but ASX iron ore miners could outperform.

The spotlight is on the Fortescue Metals Group Limited (ASX: FMG) share price, BHP Group Ltd (ASX: BHP) share price and Rio Tinto Limited (ASX: RIO) share price this morning.

Iron ore can set new record highs

This is particularly because experts believe there is more room for the commodity to rally even after its spectacular run.

“The red dirt has seen its price more than double over the past 12 months from $US83.40 a tonne on April 27, 2020,” the AFR quoted S&P Global Platts as saying.

“And as the world turns to infrastructure to stimulate its post-COVID-19 recovery, and as other industrial metals show comparable rises, it could indeed be reasonable to ask how much further this rally could go.”

Why the “supercycle” is more enduring this time

The wave of infrastructure stimulus is a key difference between this iron ore rally compared to the last one in 2011.

Back then, China was the single driving force behind the surging iron ore price. This time, the bull run could be more enduring as is coming from other major economies, including China.

Another reason why experts believe the iron ore price has not peaked is because of high steel prices. Steel mills, the consumers of iron ore, have reported bumper profits in the first quarter.

Make hay while the sun shines

The record price for iron ore is unlikely to dampen demand when steel producers are rushing to make hay while the sun shines.

But there are two potential headwinds facing our iron ore producers. The first is growing calls for the Chinese government to step in to restrict speculators. Steel mills are blaming these short-term traders from driving the iron ore price above fundamentals.

The other is expectations by some that the profit boom for steel mills is starting to slow. If their profit margins come under pressure, this will likely drag on the iron ore price too.

For now at least, the iron ore bulls are firmly in control.

More reading

• 2 fantastic blue chip ASX 200 shares for your portfolio
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 falls, BHP rises, Afterpay sinks
• Up 12% in April – what’s driving the Rio Tinto (ASX:RIO) share price?
• 2 high-quality ASX 200 shares to buy today

Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited, Fortescue Metals Group Limited and Rio Tinto 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 Bruce Jackson.

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