The Indoor Skydive Australia Group Ltd (ASX: IDZ) share price is surging today, up 300%. The rocketing share price comes after the microcap company released a progress report to the ASX market this morning.

What does Indoor Skydive Australia do?

Established in 2011, Indoor Skydive Australia Group shares first began trading on the ASX in 2013. The adventure and leisure company specialises in experiential, training and simulation solutions. It counts tourists, thrill seekers and the military among its clients.

The company has two indoor skydiving facilities; iFLY Downunder in Penrith New South Wales and iFLY Gold Coast in Queensland. Additionally, Indoor Skydive Australia owns and operates FREAK Entertainment, specialising in virtual reality (VR).

Why is the Indoor Skydive share price rocketing up today?

The company announced this morning that its FREAK Entertainment branch was opening a third venue. The new venue, FREAK Westfield Bondi Junction, is scheduled to open by mid-November.

The company has signed agreements with Scentre Group (ASX: SCG) for an initial 14-month pilot program. The goal is to expand into additional retail sites in New South Wales in 2021.

Scentre Group’s Bondi Junction shopping mall has an annual turnover of more than $1 billion. The new 211sq m facility includes 2 of FREAK’s signature free-roam VR ‘Arena’ spaces, marking Westfield’s first free-roam VR centre in Australia.

The technology is provided by HP and HTC, which the company reports having formed strategic partnerships with over the last year.

Commenting on the new venue opening, Indoor Skydive chief executive officer Wayne Jones said:

This is a significant step forward for FREAK Entertainment to be moving into Westfield Centres, with the first location being a prominent position within one of the most successful centres being Bondi Junction. The team at FREAK have been working extremely hard with the other two sites to ensure the product is ready for the high throughput expected.

Lyn Hutcheson of Scentre Group also welcomed the move:

We are excited to be working with ISA Group through FREAK Entertainment to bring free-roam virtual reality into our Westfield Living Centres. Our customer-focused strategy means we are always seeking to partner with innovative retailers to offer new and engaging experiences in our centres. This is a great example of this in action.

More reading

• Why you may not need ASX REITs for dividends
• Could industrial REITs be the best ASX shares to buy for dividends?
• Are these 3 ASX shares strong recovery opportunities?
• Why Mirvac (ASX:MGR) and these ASX REITs could boom in 2020
• The ASX shares that fund managers were buying this month

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The AGL Energy Limited (ASX: AGL) share price has not been a solid performer as of late. At the time of writing, AGL shares are trading for just $13.54. We haven’t seen the market assign such a low price to this power company since December 2014. With the energy giant basically sitting at its 52-week low today, is the AGL share price a buy?

Why are AGL shares hated right now?

With the current share price, plus the fact that AGL has fallen more than 50% in value since 2017, I think it’s fair to say AGL shares are pretty much hated by the market right now.

But why? AGL, as a gas and electricity company, should be a pillar of strength for ASX investors, given that these kinds of companies offer enormous certainty for investors in a year full of uncertainty. We all need electricity to work and live, pandemic or no. Many people also need gas for heating and cooking.

Well, all of this is true to an extent. But that doesn’t mean AGL isn’t in trouble right now. In its earnings report for the 2020 financial year, AGL told investors that its profits after tax had dipped 22%. It gets better: AGL also said that it expects things to get worse before they get better in the coming years. No wonder investors hit the sell button!

A silver lining?

But one thing stood out in AGL’s earnings report: its commitment to paying out dividends. Normally, AGL has a ‘payout ratio policy’ for its dividends, meaning it aims to pay out a set proportion of its earnings each year (75% in this case). But given that AGL is not forecasting much in the way of earnings in FY2021 or FY2022, it has given a commitment to investors that it intends to pay out an additional 25% of earnings over FY21 and FY22 in the form of special dividends. In effect, this means AGL will be paying out 100% of its earnings. 

Unfortunately, these dividends won’t be coming with any franking credits attached. AGL is instead focusing on utilising historical tax losses over this time, which won’t generate franking credits. But it hopes to return to paying a franked dividend by FY2023.

So even though AGL is not in a comfortable situation right now, I think the company is virtually guaranteeing that the 98 cents per share that it paid out in 2020 will continue in FY21 and FY22. 

On current pricing, that would give AGL shares a forward dividend yield of 7.24%. 

Foolish takeaway

Personally, I wouldn’t be buying AGL shares today with any expectation of capital growth over the coming 3 to 5 years. Even so, I think AGL is offering a relatively sustainable dividend yield of 7.24%, which would certainly come in handy if dividend income is an important objective of your ASX share portfolio. Thus, I think AGL is a great buy for income investors today (if not for everyone else).

More reading

• Top brokers name 3 ASX shares to sell next week
• 3 ASX renewable energy shares to buy for 2021
• 3 reasons I like the AGL Energy (ASX:AGL) share price today
• Why AGL Energy (ASX:AGL) and these ASX shares just hit new lows

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Botanix Pharmaceuticals Ltd (ASX: BOT) share price is soaring higher today following the release of its September quarter update.

At the time of writing, the synthetic cannabinoid company’s shares are up 15% to a year-high of 11.5 cents.

What did Botanix announce?

Botanix recorded strong results for the period ending 30 September, the first quarter of FY21. During the quarter, net cash flows equated to $2.56 million, with $2.3 million invested in research and development activities.

Botanix reported a strong financial position, holding a cash balance of $22.1 million. Most notably, this represents more than 2 years of financing the company’s ongoing operations.

In addition, Botanix president Vince Ippolito participated in a company presentation at the 2020 ASX Small & Mid-Cap virtual conference last month. The presentation provided an overview of its development programs as well as new data supporting Botanix’s antimicrobial platform. The company said it was continuing to explore funding opportunities and partnerships that would help in the development of antimicrobial treatments.

Clinical development programs

BTX 1801

Botanix advised it was well-advanced for the recruitment of its BTX 1801 phase 2a clinical study. The trial will seek to evaluate the safety, tolerability and efficiency of BTX 1801 for the prevention of surgical site infections.

The enrolment will consist of 60 volunteers who will undergo twice-daily treatments across a five-day period. Botanix said the study would be done in a cost-effective manner, with target completion later this year.

BTX 1503

The company noted its BTX 1503 acne program achieved an important drug development milestone in July. The successful end of its phase 2 meeting with the United States Food and Drug Agency (FDA) highlighted the safety profile of BTX 1503. This allowed several waivers for studies that are normally required for dermatology drug registration.

Botanix said it was currently reviewing the timetable for its phase 3 study, pending the completion of its BTX 1702 phase 2 trial, and lifting of COVID-19 restrictions.

BTX 1702

Travel restrictions have temporarily halted the BTX 1702 rosacea program. Botanix said once borders were eased between Australia and New Zealand, recruitment would begin. The six-week randomised study will aim to evaluate patients with moderate to severe papulopustular rosacea.

Given the overlapping characteristics between rosacea and acne, the study will also provide supporting information for the BTX 1503 program.

Botanix share price summary

The Botanix share price has performed strongly since the market meltdown in March. The synthetic cannabinoid company’s shares are up 500% for the period, from 2.3 cents to today’s price of 11.5 cents.

The company has a market capitalisation of $107 million, and still has a long way to go to reach its 52-week high of 26 cents.

More reading

• Why I think these small cap ASX shares will perform in 2021

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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One of the best performers on the S&P/ASX 200 Index (ASX: XJO) on Tuesday has been the Afterpay Ltd (ASX: APT) share price.

The payments company’s shares have continued their positive run and charged higher today.

In fact, at one stage the Afterpay share price was up 4.5% to a new record high of $96.08.

When its shares hit that level, it meant they were up an impressive 214% since the start of the year.

Why is the Afterpay share price at a record high?

There appears to be a few catalysts for Afterpay’s recent share price gains. These include a broker note out of Goldman Sachs, a quarterly update from rival Sezzle Inc (ASX: SZL), and a strong recovery by the Nasdaq index.

In respect to the latter, after a sharp pullback in September, the technology-centred Nasdaq index has been staging its recovery this month and now has its all-time high back in its sights.

This has given the local tech sector a big lift and helped drive tech shares higher. Incidentally, both NEXTDC Ltd (ASX: NXT) and Xero Limited (ASX: XRO) have reached record highs of their own today.

What about the broker note?

Last week Afterpay was the subject of a broker note out of Goldman Sachs.

Although the broker held firm with its neutral rating, its price target of $93.45 was around 17% higher than where its shares were trading at the time of release.

This, combined with some very positive comments by the broker, appears to have also boosted investor sentiment.

Goldman Sachs believes Afterpay had its strongest month of app downloads in history in the United States in September with approximately ~330,000 downloads. Based on this, the broker estimates that the company now has a user base of ~6.7 million in the country, which is up from 5.6 million at 30 June 2020.

Sezzle update.

Finally, an update by Sezzle last week confirmed that the buy now pay later industry is continuing to grow rapidly.

For the three months ended 30 September, Sezzle reported a massive 231.5% year on year increase in underlying merchant sales (UMS) to US$228 million (A$318 million).

This was driven by a 178.1% year on year increase in active customers to 1.79 million and a 178.3% lift in active merchants to 20,890.

Pleasingly, management also advised that “leading loss indicators have stabilized to better than pre-COVID levels.”

Is it too late to invest?

While Afterpay carries higher than normal risk due to its valuation, I still believe its shares offer value for long-term focused investors.

This is due to its leadership position in a rapidly growing industry and its international expansion plans. In light of this, I feel it could be a good idea to add Afterpay to a balanced portfolio today.

More reading

• Zip and Estrella Resources were among the most traded shares on the ASX last week
• ASX 200 up 0.9%: Telstra dividend update, Afterpay & Xero hit record highs
• Why Afterpay, HUB24, NEXTDC, & Telstra shares are storming higher
• The Zip (ASX:Z1P) share price soars as Citigroup says 1Q update to surprise
• Ignore EBITDA and P/E ratios? This fundie does

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I think there are some great S&P/ASX 200 Index (ASX: XJO) growth shares that are worth buying for your portfolio.

There aren’t many shares in the ASX 20 that display good growth potentials, though I did choose one for this article.

Here are three good ASX 200 growth shares worth buying today:

Magellan Financial Group Ltd (ASX: MFG)

Magellan is one of the best fund managers in Australia in my opinion. It is good at producing solid investment returns. The underlying business also has very good management that are always looking for further opportunities to grow the business.

Over the past decade it has grown its funds under management (FUM) to more than $100 billion thanks to the good investment performance as well as a good inflow of funds.

Magellan had a strong FY20 result. Revenue increased by 12.4% and adjusted net profit after tax (NPAT) grew by 20.3%.

As the ASX 200 growth share continues to grow its FUM, its profit can continue to rise at a pleasing rate.

The move to combine three of its funds into one seems like a smart move, locking in more funds while giving investors the chance to buy more closed-ended fund units. This should be good for long-term profit.

I also like the recent move to invest in new investment bank Barrenjoey, which is getting a lot of quality people on board which should be attractive to prospective clients.

At the current Magellan share price it’s trading at 20x FY23’s estimated earnings. Magellan currently offers a grossed-up dividend yield of 4.8%.

Service Stream Limited (ASX: SSM)

Service Stream describes itself as a leading essential network services company. It is involved with the design, build and maintenance of various networks including water, gas, electricity, renewable energy and telecommunications.

Indeed, today it announced another win from the NBN which could be worth many millions of dollars.

The ASX 200 growth share delivered a solid FY20 result, with earnings before interest, tax, depreciation and amortisation (EBITDA) from operations rising by 15.9%.

Infrastructure spending will help Australia’s recovery from COVID-19 impacts, and Service Stream could be one of the better ways to play that theme.

At the current Service Stream share price it’s trading at under 15x FY22’s estimated earnings. It also offers a grossed-up dividend yield of around 6%.

CSL Limited (ASX: CSL)

CSL has been one of the best ASX 200 growth shares over the past decade. The CSL share price has gone from around $33 to today’s $300.

The company keeps delivering strong long-term profit growth. In FY20 it grew its net profit after tax by 17% to US$2.1 billion in constant currency terms, with revenue rising by 9%.

CSL is going to be a key part of Australia’s ability to recover from COVID-19 because it has been tasked by the Australian government to manufacture both the Oxford vaccine as well as the University of Queensland vaccine.

In FY21 CSL is expecting profit to grow by up to 8% to US$2.265 billion, though the bottom end of the guidance range was US$2.1 billion of net profit – this would mean profit would be flat for the year.

The ASX 200 growth share consistently invests into new products and this helps unlock future earnings streams for the healthcare giant. It’s this investment in new products that makes me confident for CSL’s future profit growth. It is currently spending around 10% of its revenue on research & development.

At the current CSL share price it’s trading at 34x FY23’s estimated earnings.

Foolish takeaway

I believe that each of these ASX 200 growth shares have good growth credentials over the next three to five years. Growing dividends could also be good.

Out of the three options I’d probably go for Magellan because of its diversifying earnings and its rising profit margins. Fund managers are very scalable businesses.

More reading

• The Unibail (ASX:URW) share price is climbing today. Here’s why.
• ASX 200 up 0.9%: Telstra dividend update, Afterpay & Xero hit record highs
• Service Stream (ASX:SSM) share price higher on NBN update
• $10,000 invested in the CSL (ASX:CSL) IPO is worth how much now?
• 5 things to watch on the ASX 200 on Tuesday

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 CSL Ltd. The Motley Fool Australia has recommended Service Stream Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Do you remember when the tech boom was over? When would-be pundits were coming out of the woodwork proclaiming that the share price gains investors enjoyed during the tech-led share market recovery had run their course?

Those pundits are still out there. But they’ve gone suspiciously quiet.

To be fair, technology shares did, by and large, race ahead of the pack following the pandemic fuelled market rout. And fears that valuations were stretched did see tech share prices retrace.

In Australia, the S&P/ASX All Technology Index (ASX: XTX) — which tracks 50 of Australia’s leading and emerging technology shares — peaked on 25 August. At that point it was up 116% from the 23 March low. Then the index slid 11% through to 14 September. And the tech bears predicted more pain to come.

But, as you probably know, that didn’t happen.

Since 14 September, the All Tech Index is up 17% (at the time of writing). It hit new, all-time highs last Thursday 8 October. And it’s kept gaining since then, currently up 5% from its 25 August peak and an eye-popping 127% from the 23 March low.

Investors piling into cashed up tech shares

It’s the same story across most of the globe, just on a slightly different timeline.

In the United States, the NASDAQ-100 (NASDAQ: NDX) didn’t peak until 2 September, up 77% from 23 March. By 23 September, it was down 13% from that peak, putting the index well into technical correction territory. And again, the tech bears forecast more share price losses to come.

But, following yesterday’s (overnight Aussie time) 3% gain, the Nasdaq 100 has instead climbed 12% since 23 September. That puts it only 3% below its 2 September all-time highs.

And that high looks like it won’t hold the record for long.

Deutsche Bank AG (NYSE: DB), among others, is upping its bullish outlook for some of the biggest technology shares. With an eye on the growth potential in digital advertising, the bank upgraded its outlook for Twitter Inc (NYSE: TWTR), Facebook, Inc. (NASDAQ: FB) and Google’s parent company, Alphabet Inc Class A (NASDAQ: GOOGL).

Keith Gangl, a portfolio manager of Gradient Investments noted that (quoted by Bloomberg), “People are going back to the trade that’s worked, and that’s the growth trade. People are worried about missing out, so they are going right to the tech leaders.”

Now there are all kinds of great technology shares on the All Ordinaries Index (ASX: XAO). But if you want exposure to the top US tech shares, you may want to consider the Betashares Nasdaq 100 ETF (ASX: NDQ).

The exchange-traded fund (ETF) is meant to mirror the returns of the Nasdaq 100. And it comes pretty close. The ETF is up 31% so far in 2020, compared to a 36% gain for the Nasdaq 100.

PC demand is booming

Sticking with technology, personal computer (PC) shipments increased 3.6% in the third quarter of 2020, reaching 71.4 million units. That’s according to preliminary results by research and advisory company Gartner Inc (NYSE: IT).

According to Mikako Kitagawa, research director at Gartner:

This quarter had the strongest consumer PC demand that Gartner has seen in five years. The market is no longer being measured in the number of PCs per household; rather, the dynamics have shifted to account for one PC per person…

Mobile PC demand in the U.S. market surged as the shift from desktop to mobile PCs became a common practice across public and private businesses, even with many companies partially bringing their workers back to the office. PC demands in the U.S. were also backed by the gradual economic recovery throughout the quarter, including a rebound in employment and an improved consumer confidence index.

Gartner does not include Chromebook shipments in its traditional PC market results. (Chromebooks run on Google’s Chrome operating system and are generally less expensive than most traditional PCs.)

If you include the 90% surge in Chromebook shipments in the third quarter, Gartner indicated the total worldwide PC market grew 9% year on year. Which hardly sounds like the end to the tech share boom.

The government’s recovery budget and ASX tech shares

We’ll wrap this up today with a look at how the government’s proposed instant asset write-off measures could impact ASX technology share prices.

For that, we turn to Fiona Hindmarsh, chief executive of venture capital firm Significant Capital Ventures. According to the Australian Financial Review, Hindmarsh believes the budget will increase the demand for high-tech equipment. She says:

This budget is a powerful confidence boost. The tax write-off won’t directly impact the start-ups that are sourced and funded by Significant as they are typically not yet profitable. It will however have a dramatic impact on the speed and scale of adoption of these technologies through industry engagement and investment…

Owners of heavy equipment are all seeking technology that will enable them to make autonomy in the field of construction, mining, remote environments a reality. The cost of taking on and accelerating this type of radical technology innovation is reduced with the tax benefits enabling more effective industry partnerships.

All of this doesn’t mean that tech share prices won’t fall again on any given day or week. But the growth outlook for well-placed technology shares remains robust.

More reading

• Where will Facebook (NASDAQ:FB) be in 5 years?
• Is the Nearmap share price a buy after the tech sell-off?
• Why it is important to diversify your ASX portfolio and how you can do it
• 3 five-star ASX shares to buy next week
• 3 ASX shares to buy in a US election selloff

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Bernd Struben 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 Alphabet (A shares), Facebook, and Twitter. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BETANASDAQ ETF UNITS. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Gartner. The Motley Fool Australia has recommended Alphabet (A shares), BETANASDAQ ETF UNITS, and Facebook. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Unibail-Rodamco-Westfield CDI (ASX: URW) share price is climbing today after the company announced the sale of a major office building in France. The Unibail share price is currently trading 6.76% higher at $3.00.

What does Unibail do?

Unibail is the largest listed real estate company in Europe. The company is classified as a retail real estate investment trust (REIT) on the S&P/ASX 200 Index (ASX: XJO).

Unibail focuses its operations on big shopping centres in major European cities, including the large office buildings in the heart and west of Paris, France, and major convention and exhibition venues in and around Paris.

Why happened today?

Unibail announced a deal this morning to sell the SHiFT office building in Paris for 620 million euros. The sale price represents a premium on the 30 June book value. However, shareholders should note that the transaction is subject to standard conditions and is expected to be completed by January 2021.

The SHiFT office building is located in the business district of Issy-les-Moulineaux (Paris) with a total area of 47,200 sqm. The property is currently leased to Nestlé for its French headquarters on a 12-year agreement.

What now for the Unibail share price

The transaction is part of the REIT’s 9 billion euro reset plan to strengthen the group’s balance sheet in response to COVID-19. On completion of the sale, the group will have generated 5.3 billion euros of net disposal proceeds since June 2018.

The Unibail share price has been on a downward spiral since the start of the pandemic. Despite this rare uptick in share price, shareholders are likely to be wary of the damage rising numbers of COVID-19 cases in Europe may have on the company’s shares.

The Unibail share price has fallen a huge 73% since the start of 2020.

More reading

• ASX 200 up 0.9%: Telstra dividend update, Afterpay & Xero hit record highs
• 5 things to watch on the ASX 200 on Tuesday
• The Zip (ASX:Z1P) share price soars as Citigroup says 1Q update to surprise
• ASX 200 ends higher, Link (ASX:LNK) share price shoots 24% higher
• Why ASX oil stock laggards are well placed to bounce in the COVID recovery trade

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This morning Australia’s leading investment platform provider CommSec released data on the most traded ASX shares on its platform from last week.

While there are once again some familiar faces, there are also a couple of very surprising additions to the top five this week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

This buy now pay later provider was the most popular share on the CommSec platform last week and accounted for 3.7% of total trades. Although just 44% of these trades came from the buy side, it was enough to lift the Zip share price by a sizeable 16.5%. The catalyst for this was news of tax cuts and a positive update from rival Sezzle Inc (ASX: SZL).

Mesoblast limited (ASX: MSB)

Mesoblast shares were popular with retail investors last week. The biotech company’s shares were responsible for 2.7% of trades on the platform. Almost two-thirds of these trades came from buyers, who may believe that a recent crash in the Mesoblast share price has created a buying opportunity. That decline was driven by an unfavourable decision by the US FDA at the start of the month. Mesoblast shares rose 5.6% last week.

American Rare Earths Ltd (ASX: ARR)

The first surprise addition to the top five was this small mineral resources company. It accounted for 1.8% of trades on the CommSec platform. The catalyst for this was news that US President Donald Trump had signed an Executive Order which declared it a national emergency for the US to increase its rare earths mining and processing capacity. The American Rare Earths share price rocketed 160% higher over the week.

Estrella Resources Ltd (ASX: ESR)

This junior exploration company is another surprise addition to the top five this week. Its shares were in demand with investors last week after announcing a significant nickel sulphide discovery at its Carr Boyd nickel project in Western Australia. Estrella Resources shares accounted for 1.6% of trades on the platform, with 60% coming from buyers. Those buyers will be pleased to learn that the Estrella Resources share price recorded a weekly gain of over 350%.

Afterpay Ltd (ASX: APT)

Afterpay was popular with investors again last week and was responsible for 1.5% of trades on the CommSec platform. And despite almost two-thirds of these trades coming from sellers, it couldn’t stop the Afterpay share price from surging over 12% higher over the five days. A strong update from Sezzle and a favourable Federal Budget appeared to give its shares a lift.

More reading

• ASX 200 up 0.9%: Telstra dividend update, Afterpay & Xero hit record highs
• Why Afterpay, HUB24, NEXTDC, & Telstra shares are storming higher
• The Zip (ASX:Z1P) share price soars as Citigroup says 1Q update to surprise
• Ignore EBITDA and P/E ratios? This fundie does
• 3 reasons I still think the Zip (ASX:Z1P) share price is a buy

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) has continued its remarkable run and is on course to record another strong gain. The benchmark index is currently up 0.9% to 6,187 points.

Here’s what is happening on the market today:

Telstra annual general meeting update.

The Telstra Corporation Ltd (ASX: TLS) share price is pushing higher on the day of its annual general meeting. Ahead of the virtual meeting, Telstra released its presentations. These included a summary of its performance in FY 2020, the progress it is making with its T22 strategy, and an update on its dividend. It is the latter which appears to have really caught the eye today. Telstra’s chairman advised that the Telstra board is looking into ways to maintain its 16 cents per share dividend in FY 2021 and beyond.

Tech shares hit record highs.

A very strong night of trade on the technology-focused Nasdaq index has given the local tech sector a big lift on Tuesday. This has led to the S&P/ASX All Technology Index (ASX: XTX) charging higher and taken a few tech shares to record highs. Two of note that have achieved this feat are payments company Afterpay Ltd (ASX: APT) and cloud-based business and accounting software provider Xero Limited (ASX: XRO).

Coal miners under pressure.

Australian coal miners such as Whitehaven Coal Ltd (ASX: WHC) have come under pressure today amid reports that the Chinese government has told state-owned energy companies not to buy Australian coal. One Chinese analyst told the AFR that he believed the move is “a political sanction against Australia.”

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Tuesday has been the Unibail-Rodamco-Westfield (ASX: URW) share price with a 6% gain. This morning the shopping centre operator announced an agreement to sell its SHiFT office building for 620 million euros. The worst performer on the index is the Whitehaven Coal share price following the alleged Chinese ban on Australian coal.

More reading

• Why Afterpay, HUB24, NEXTDC, & Telstra shares are storming higher
• Why Austal, Challenger, Orocobre, & Whitehaven Coal are dropping lower
• New Chinese government threat leaves these ASX mining stocks on tenterhooks
• Telstra (ASX:TLS) share price in focus after AGM dividend update
• Telstra share price and 1 other ASX telecom trading near all time lows

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 Xero. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 up 0.9%: Telstra dividend update, Afterpay & Xero hit record highs appeared first on Motley Fool Australia.

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The S&P/ASX 200 Index (ASX: XJO) is on course to maintain its impressive winning streak on Tuesday. In late morning trade the benchmark index is up a sizeable 0.9% to 6,188.8 points.

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

The Afterpay Ltd (ASX: APT) share price has climbed almost 4% to $95.49. Investors have been buying the payments company and other tech shares on Tuesday following a very strong night of trade on the tech-focused Nasdaq index. This has helped drive the S&P/ASX All Technology Index (ASX: XTX) 1.5% higher at the time of writing.

The HUB24 Ltd (ASX: HUB) share price is up 2% to $21.17. This follows the release of the investment platform provider’s first quarter update this morning. HUB24 revealed that its strong has form continued in FY 2021, with record first quarter inflows of $1.36 billion. Together with positive market movements of $436 million, this increased the company’s Funds Under Administration to a massive $19 billion. This is a solid 32% increase on the prior corresponding period.

The NEXTDC Ltd (ASX: NXT) share price has risen 2% to $13.42. This appears to have been driven by a broker note out of UBS this morning. According to the note, its analysts have retained their buy rating and lifted their price target on the data centre operator’s shares to $15.25 following its debt update on Monday. It notes that NEXTDC’s shares are still attractively priced in comparison to its global peers.

The Telstra Corporation Ltd (ASX: TLS) share price is up almost 2.5% to $2.85. Investors have been buying the telco giant’s shares after the release of its annual general meeting presentation. That presentation revealed that the Telstra board is looking into ways to maintain its 16 cents per share dividend in FY 2021 and beyond.

More reading

• Why the HUB24 (ASX:HUB) share price surged to a record high today
• Telstra (ASX:TLS) share price in focus after AGM dividend update
• Telstra share price and 1 other ASX telecom trading near all time lows
• Why NEXTDC (ASX:NXT) and these ASX 200 shares just hit record highs
• The Zip (ASX:Z1P) share price soars as Citigroup says 1Q update to surprise

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Hub24 Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Afterpay, HUB24, NEXTDC, & Telstra shares are storming higher appeared first on Motley Fool Australia.

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