Stock Pick

  • Here are the top 10 ASX 200 shares today

    Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.

    The S&P/ASX 200 Index (ASX: XJO) enjoyed a cracking day this Thursday, leaping higher and erasing much of the negativity from earlier in the week.

    By the time the closing bell rang, the ASX 200 had added a convincing 0.93%, lifting the index up to 7,889.6 points.

    This euphoric Thursday session for most ASX shares follows a similarly bullish night of trading up on Wall Street overnight (our time).

    The Dow Jones Industrial Average Index (DJX: DJI) exploded higher, pushing up a confident 1.09% last night.

    It was even better for the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC), which enjoyed a 1.18% surge.

    But it’s time now to return to the local share market and see just how good today’s trading was for the different ASX sectors this Thursday.

    Winners and losers

    Unsurprisingly, it was all smiles on the ASX today, with every single sector recording a rise.

    The worst place to be (a harsh label in this context) was in ASX utilities shares. The S&P/ASX 200 Utilities Index (ASX: XUJ) came in last today, recording a rise of 0.25%.

    Financial stocks also lagged most other shares, with the S&P/ASX 200 Financials Index (ASX: XFJ) bumping up 0.52%.

    Communications shares did better though. The S&P/ASX 200 Communication Services Index (ASX: XTJ) enjoyed a gain of 0.6% today.

    Consumer discretionary stocks came in better again, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) shooting up 0.87%.

    Its consumer staples counterpart fared similarly. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) saw a value add of 0.88%.

    Industrial shares stepped on the gas, as evidenced by the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.98% great leap forward.

    Energy stocks were on fire today. The S&P/ASX 200 Energy Index (ASX: XEJ) galloped a hefty 1.11% upward.

    As were mining shares, with the S&P/ASX 200 Materials Index (ASX: XMJ) charging up 1.18%.

    Healthcare stocks were the next cab off the rank. The S&P/ASX 200 Healthcare Index (ASX: XHJ) blazed up 1.32%.

    Tech stocks were shining brightly today too, illustrated by the S&P/ASX 200 Information Technology Index (ASX: XIJ)’s 1.46% surge.

    Real estate investment trusts (REITs) got today’s silver medal, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) soaring 1.6%.

    But the gold went to, fittingly, gold shares. The All Ordinaries Gold Index (ASX: XGD) blew it out of the water today, rocketing a whopping 2.16%.

    Top 10 ASX 200 shares countdown

    Today’s top stock came in as healthcare share Telix Pharmaceuticals Ltd (ASX: TLX). Telix stock shot up a happy 10.48% today to $19.39 a share.

    This spike came after the company told investors it would benefit from changes to the United States’ Medicare and Medicaid programs.

    Here’s a look at the rest of today’s most victorious shares:

    ASX-listed company Share price Price change
    Telix Pharmaceuticals Ltd (ASX: TLX) $19.39 10.48%
    Deep Yellow Ltd (ASX: DYL) $1.49 9.16%
    Paladin Energy Ltd (ASX: PDN) $13.98 6.15%
    Boss Energy Ltd (ASX: BOE) $3.98 6.13%
    Perseus Mining Ltd (ASX: PRU) $2.64 5.18%
    Mirvac Group (ASX: MGR) $1.93 4.32%
    Genesis Minerals Ltd (ASX: GMD) $1.955 3.99%
    Arcadium Lithium plc (ASX: LTM) $5.06 3.90%
    Newmont Corporation (ASX: NEM) $67.58 3.78%
    Domain Holdings Australia Ltd (ASX: DHG)
    		 $3.05 3.74%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Boss Resources Limited right now?

    Before you buy Boss Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boss Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    Motley Fool contributor Sebastian Bowen has positions in Newmont. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why did ASX uranium shares like Boss Energy have such a bumper day?

    Two fists connect in a surge of power, indicating strong share price growth or new partnerships for ASC mining and resource companies

    ASX uranium shares were soaring on Thursday, driven by a development that could impact the global uranium market.

    The ASX uranium basket was trading significantly higher today, up around 7-9%. Here is how the main uranium players were faring at the close of trading on Thursday:

    • Boss Energy Ltd (ASX: BOE) shares were up 6.13% to $3.98
    • Deep Yellow Ltd (ASX: DYL) was trading at $1.49 per share, up 9.16%
    • Paladin Energy Ltd (ASX: PDN) shares were 6% higher and swapping hands at $13.98
    • Bannerman Energy Ltd (ASX: BMN) at $3.29 per share, up 7.87%.
    • Peninsula Energy Ltd (ASX: PEN): Up 4.7% to 11 cents apiece.

    What was behind today’s rally?

    The rally in ASX uranium shares is likely due to a significant announcement on Wednesday from Kazakhstan, the world’s largest uranium-producing country.

    Kazakh authorities announced a surprise increase in the mineral extraction tax applicable to uranium.

    Kazatomprom, Kazakhstan’s national operator for the export of nuclear minerals, its subsidiaries, and joint ventures, will pay different mineral extraction tax (MET) rates based on their production volumes and market prices for uranium.

    The tax rate will increase to 9% starting in 2025. From 2026, a new tiered system will be implemented, with rates ranging from 4% to 18% depending on production levels.

    Additionally, further incremental tax rates will apply if the price of natural uranium concentrate exceeds certain thresholds.

    Impact on ASX uranium shares

    This move could impact global uranium supply, a bullish sign for uranium prices. BMO Capital analyst Alexander Pearce noted the new tax rates provided “less incentive for Kazatomprom to increase production”, according to ZeroHedge.

    The new rates are not marginal, thus the new MET penalises large mining assets with potential MET of up to 20.5% (18% for anything over 4ktU, or ~10.4Mlb U3O8, plus an additional 2.5% if the uranium price is >US$110/lb).

    Adding to the bullish sentiment, the US Biden administration banned Russian uranium imports back in May. The new law will take effect on August 11 this year.

    Russia is a major supplier of global uranium, so what this means for the long-term supply — and price — of the energy commodity remains to be seen.

    ASX uranium shares FY25 outlook

    The latest price moves extend rallies in the Aussie uranium basket that have been in situ for some months now.

    Brokers are also bullish on several ASX uranium shares. For one, Bell Potter has buy ratings on both Boss Energy and Paladin Energy.

    For Boss, the broker says its Honeymoon asset “has the capacity to generate strong margins in the current pricing environment”, assigning a price target of $5.90 on the ASX uranium share.

    This represents 48% upside potential at the time of writing.

    Meanwhile, for Paladin, Bell Potter identifies several catalysts behind the stock. These include an increased production estimate at its Langer Heinrich site and the closure of its Fission Uranium site in September.

    It valued Paladin at $15.70 per share, a 12.3% upside potential from the time of writing.

    Meanwhile, consensus has buy ratings on Bannerman Energy, Deep Yellow and Penninsula Energy, according to CommSec.

    Based on these recommendations, analysts’ view on the sector is bullish.

    Foolish takeaway

    Investors are buying ASX uranium shares following a number of market and company updates this year.

    Remember that commodities move in cycles, and there are specific considerations associated with investing in commodity-linked companies.

    The post Why did ASX uranium shares like Boss Energy have such a bumper day? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Bannerman Resources Limited right now?

    Before you buy Bannerman Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bannerman Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    Motley Fool contributor Zach Bristow 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 Scott Phillips.

  • Rich people can buy their way into Hong Kong residency, and the majority of applicants come from 2 tiny countries

    Hong Kong Skyline
    Hong Kong's New Capital Investment Entrant Scheme offers residency for a certain amount of investment.

    Vernon Yuen/NurPhoto via Getty Images

    • Hong Kong's latest residency program has drawn applicants largely from Guinea-Bissau and Vanuatu.
    • Vanuatu's cash-for-residency program has been the subject of international scrutiny.
    • About 100 Guinea-Bissau residents applied for the Hong Kong program this spring, per government data.

    Hong Kong's latest sales pitch involves a cash-for-residency program targeted at wealthy investors — and most of them come from just two countries.

    The plan, which began in March, offers two-year visas in exchange for an investment of 30 million Hong Kong dollars, about $3.8 million, into the city. Investors can extend their visas and eventually apply for permanent residency. It builds on prior investment-for-residency programs offered in the last two decades, which aim to capture foreign capital and talent to boost Hong Kong's economy.

    This version attracted over 250 applicants in March through May, per government data from last month. Nearly 80% of the applicants come from just two countries: Vanuatu and Guinea-Bissau. The countries have long attracted mainland Chinese looking for other residency options, including government officials — a pattern highlighted by Reuters in 2014.

    Few people buy citizenship in Vanuatu or Guinea-Bissau with the intent to move to the countries or even step foot there. Permanent residency instead marks a stepping stone to Hong Kong's residency scheme, which prohibits mainland Chinese residents.

    Vanuatu, a Pacific nation, has a similar immigration program to Hong Kong. The country markets itself as a "business-friendly, tax-free destination" that issues passports to wealthy individuals for an investment of $130,000 into the country.

    A 2021 report from The Guardian identified several controversial figures who gained citizenship through this program, including two founders of Africyrpt, the crypto investment app, who disappeared in 2021 along with billions of dollars in bitcoin, and Hayyam Garipoglu, who was imprisoned for embezzlement in Turkey.

    Vanuatu, a small country of about 350,000 people with few natural resources, relies on residency sales to buoy its economy. Selling citizenships accounted for nearly 50% of the country's revenue, the government said in 2022. Vanuatu citizens can travel to the UK and the European Union, among other destinations, without visas.

    While Vanuatu pledged in 2022 to improve due diligence checks to ensure the legitimacy of potential investors, the nation granted citizenship to multimillionaire Andrew Spira, who had been convicted of using a false passport and drug charges in Australia in 2023, according to a November report from the Australian Broadcasting Corporation.

    Passports from the West African country of Guinea-Bissau have also become somewhat of a hot topic on the Chinese social media platform Xiaohongshu. Dozens of posts viewed by Business Insider promoted the nation's passports, shown to be worth 150,000 to 200,000 yuan, or about $21,000 to $27,000. The posts, which have been viewed over 600,000 times, highlight that the passports qualify for Hong Kong's residency program.

    Screenshot from Xiaohongshu promoting the purchase of Guinea-Bissau passports
    Prices for Guinea-Bissau passports are listed at $27,000 on a Chinese social-media platform.

    Xiaohongshu

    Guinea-Bissau has no known programs offering citizenships in exchange for investments. The West African nation's citizens currently make up the highest proportion of applicants for Hong Kong's New Capital Investment Entrant Scheme — 139 out of 333 applicants, per government data.

    Hong Kong's latest attempt to woo investors comes just as a report by Henley and Partners shows that the city lost 4% of its millionaires from 2013 to 2023.

    The city has tried cash-for-residency programs before. Its last attempt was suspended in 2015. According to Bloomberg at the time, that program brought in over 24,000 new residents, almost 90% of whom were Chinese nationals.

    Read the original article on Business Insider

  • Ukraine’s ambassador accused Russia of serving ‘Chicken Kiev’ at a UN luncheon after bombing a children’s hospital

    A luncheon menu posted by Ukraine's ambassador to the United Nations.
    A luncheon menu posted by Ukraine's ambassador to the United Nations.

    Sergiy Kyslytsya/X

    • Ukraine's envoy to the UN accused Russia of serving Chicken Kiev after missile strikes on the capital.
    • He posted a photo of the luncheon's menu, which came after a Ukrainian children's hospital was hit.
    • The luncheon was related to Russia holding the Security Council president's chair for July.

    Sergiy Kyslytsya, the Ukrainian ambassador to the United Nations, accused Russia on Wednesday of serving "Chicken Kiev" at a luncheon after it attacked a children's hospital.

    He posted a photo of the menu for a Tuesday UN Security Council event hosted by Russia, which includes the item "Chicken Kiev served with Potato Paille."

    https://platform.twitter.com/widgets.js

    Chicken Kiev is a stuffed chicken fillet coated in egg and bread crumbs. It is a dish often eaten in Ukraine and the Soviet Union, though its origins are disputed. Some sources claim it was invented in St. Petersburg, while others say it came from France.

    In a caption to his post on X, Kyslytsya bashed Russia's ambassador to the UN, Vassily Nebenzia.

    "I cannot understand how you can shake his hand and accept an invitation to dine with him, paid for in blood money," he wrote, taking an excerpt from a speech he made on Tuesday.

    Nebenzia holds the president's chair for the Security Council in July as part of the UN's monthly rotation.

    He chaired an emergency meeting on Tuesday condemning a missile strike that destroyed part of the Okhmatdyt Children's Hospital in Kyiv on Monday.

    [youtube https://www.youtube.com/watch?v=59lNLRYIOWk?si=sTZ8Q-EWEOBsLJau&w=560&h=315]

    The strike killed at least two people, Ukrainian authorities said.

    It came amid a wave of Russian missile attacks on Ukraine, which killed at least 47 people and injured 190 more that day.

    At the UN meeting on Tuesday, Kyslytsya slammed Russia and Nebenzia.

    "The question is, what kind of future are we talking about if a murderer feels comfortable sitting here knee-deep in children's blood in the chair of the President of the Security Council?" he said.

    According to the Associated Press, Nebenzia thanked Kyslytysa as part of his duty as rotating president of the security council.

    "In accordance with the traditions of the council presidency, and purely as the president of the council," he said, per The AP, "I am compelled to thank Ukraine for their statement."

    The Russian Foreign Affairs Ministry and the Russian Geneva mission to the UN did not immediately respond to requests for comment sent outside regular business hours by Business Insider.

    Read the original article on Business Insider

  • Clarence Thomas accepted a free yacht trip to Russia and got flown out on a complimentary helicopter ride to Putin’s hometown, 2 Democratic senators say

    Associate justice of the Supreme Court Clarence Thomas and Russian President Vladimir Putin.
    Associate justice of the Supreme Court Clarence Thomas and Russian President Vladimir Putin.

    OLIVIER DOULIERY/Getty Images and Contributor/Getty Images

    • Democratic senators have accused Justice Clarence Thomas of accepting undisclosed gifts and trips.
    • He allegedly accepted gifts like a yacht trip and a chopper ride to St. Petersburg, Putin's hometown.
    • Senators seek investigation into potential tax fraud and financial ties between Thomas and Crow.

    Two Democratic senators have accused Associate Justice Clarence Thomas of accepting free trips to Russian President Vladimir Putin's hometown.

    Sen. Sheldon Whitehouse of Rhode Island and Sen. Ron Wyden of Oregon filed a letter to US Attorney General Merrick Garland on July 3, asking to open an investigation into the SCOTUS judge.

    The letter highlighted the "serious possibility of tax fraud" and accused Thomas of having "secretly accepted gifts and income potentially worth millions of dollars."

    The letter's appendix, which lists 35 undisclosed gifts, shows a "yacht trip to Russia and the Baltics" and a "helicopter ride to Yusupov Palace, St. Petersburg," both listed under the year 2003.

    St. Petersburg is Putin's birthplace and where he grew up. The president currently resides in Moscow.

    The appendix list is titled "Likely Undisclosed Gifts and Income from Harlan Crow and Affiliated Companies." Harlan Crow is a real estate developer and the former chairman and CEO of the Trammell Crow Company.

    The senators cited a ProPublica report from May 2023 detailing Thomas' hushed-up financial ties to Crow.

    The report stated that apart from the Russia trip, Crow also funded Thomas' grandnephew Mark Martin's boarding school fees, which cost "more than $6,000 a month."

    In their letter, the senators wrote that other gifts from Crow included "multiple instances of free private jet travel, yacht travel, and lodging," as well as "gifts of tuition for Justice Thomas's grandnephew," "real estate transactions," "home renovations," and "free rent for Justice Thomas's mother."

    In September 2023, Thomas acknowledged that he had accepted three trips on a private plane owned by Crow. He did not mention any other gifts.

    Whitehouse and Wyden are not the only Democrats who have voiced concerns over Thomas' sketchy financial ties.

    Rep. Alexandria Ocasio Cortez of New York filed articles of impeachment against Thomas and Justice Samuel Alito on Wednesday.

    "Justice Thomas and Alito's repeated failure over decades to disclose that they received millions of dollars in gifts from individuals with business before the court is explicitly against the law," her statement read.

    Representatives for Thomas, Whitehouse, Wyden and Crow didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

    Read the original article on Business Insider

  • Critical Role is branching out further into the podcasting business and putting 2 heavyweight cast members on a new, experimental show

    A composite image with the logo of Critical Role's new podcast show, Moonward, in the middle. To the left is Critical Role creative director Marisha Ray in a blush pink button down and a pearl vest. On the right is Critical Role cast member Liam O'Brien, in a brown jacket and a white round-necked t-shirt.
    Critical Role main cast members Liam O'Brien and Marisha Ray are going all in on the company's new audio drama, "Moonward," a spinoff show from its 2023 podcast acquisition, "Midst."

    Critical Role

    • Critical Role on Wednesday announced "Moonward," a four-part miniseries.
    • "Moonward" follows CR's 2023 acquisition of "Midst," a sci-fi space western audio drama.
    • "Moonward" also stars two heavyweight CR cast members, in a renewed push into the podcasting business.

    Critical Role has been churning out some big productions aside from its long-running main "Dungeons & Dragons" campaigns. Now, they're looking to sink their teeth further into the podcasting business.

    Critical Role creative director Marisha Ray announced the miniseries on a livestream on Wednesday evening. Titled "Moonward," the four-part, stand-alone series is set in the world of "Midst," an experimental audio drama that Critical Role acquired in 2023.

    "Midst," a sci-fi space western set on a desert planet, was originally helmed by three unnamed narrators. Now, its crew — Matt Roen, Sara Wile, and Xen — have come out of anonymity.

    On "Moonward," they're getting experimental on-set with Ray and fellow CR main cast member Liam O'Brien.

    Ray said "Moonward" will be set shortly after the events of "Midst's" three seasons. It will feature a cast of characters "on an expedition to locate the sunken remains of Midst's destroyed moon."

    "We all walked away from the table at the end really attached to the story we told," O'Brien said on Wednesday evening's stream.

    There are no dice and no rules in "Moonward" — unlike the "D&D main campaign" those two cast members are used to. Instead, it will feature just pure roleplay and acting.

    "It's certainly nothing like what we have done here at Critical Role," Ray said, likening the experience to combining roleplaying games with a live jam session.

    This has been a significant year for Critical Role's expansion into the business of nerdworld. The third season of the company's Amazon-backed animation series, "The Legend of Vox Machina," is getting a fall release. The "Mighty Nein" animated series, based on their second long-running "D&D" campaign, is also in the works. And their business expansion continues with two games: the "Daggerheart" open-beta, a game with the potential to rival Hasbro's major moneymakers like "Magic: The Gathering" and "D&D," and "Candela Obscura," CR's gothic horror offering.

    The first full trailer for "Midst" will be released on July 24.

    For now, Critical Role fans can tide over their programming cravings with the start of "Downfall," the long-anticipated blockbuster main campaign arc helmed by "Dimension 20's" Brennan Lee Mulligan.

    "Downfall" kicks off on Thursday night. It will stream on Twitch, YouTube, and Beacon, CR's in-house membership and streaming service.

    Read the original article on Business Insider

  • Russia would need to spend 6% of its entire 2024 budget to pay wounded soldiers and families of dead troops, 2 researchers estimate

    Russian President Vladimir Putin visits servicemen who were wounded during the Russian war in Ukraine, at a military hospital in Moscow on May 25, 2022.
    Russian President Vladimir Putin visits servicemen who were wounded during the Russian war in Ukraine, at a military hospital in Moscow on May 25, 2022.

    MIKHAIL METZEL/SPUTNIK/AFP via Getty Images

    • Two researchers in the US say Russia's promised payouts to its wounded and dead would take $26 billion.
    • That's about 6% of the country's budget for 2024, which is $414 billion.
    • The researchers arrived at the figure through open-source data and Russia's own laws.

    The Kremlin would need to spend some 2.3 trillion rubles, or $26 billion, in promised one-time payouts to wounded soldiers or families of those killed in Ukraine, according to two researchers estimates.

    That's about 6% of Russia's total budget for 2024, which is 36.6 trillion rubles, or $414 billion.

    The figures were calculated by Thomas Lattanzio, a public service fellow at the Johns Hopkins School of Advanced International Studies, and Harry Stevens, a research assistant at the US think-tank Center for the National Interest.

    In a commentary for War On The Rocks, they used estimates from French and British officials to ballpark Russia's casualties from the Ukraine war. They arrived at a total of 400,000 wounded or dead, including 100,000 soldiers killed.

    Russian law entitles families of killed soldiers to a one-time payment of 8.8 million rubles, with another 5 million rubles from a measure passed in 2022 just after the war began.

    Lattanzio and Stevens wrote that stacked with additional payments of between 1 and 3 million rubles from local authorities, most families would receive one-time payments totaling about 14 million rubles, or $158,000.

    Wounded soldiers also receive 3 million rubles, per the 2022 decree.

    "Simple math shows that one-time payments would equate to 900 billion rubles for wounded personnel and at least 1.4 trillion for families of the dead, 2.3 trillion rubles total," wrote Lattanzio and Stevens.

    The cost of the one-time payments would be a "staggering amount," they wrote.

    Representatives for the Russian Ministry of Defense did not immediately respond to a request for comment sent outside regular business hours by Business Insider.

    Still, it's not clear if Russia has consistently been rolling out its one-time payments to its wounded or its deceased soldiers' next-of-kin.

    Reuters reported in June 2022 that some soldiers, including four servicemen interviewed by the outlet, were struggling to receive their compensation after sustaining battlefield injuries.

    In November, Radio Free Europe's Russian investigative unit, Systema, found that multiple Russian contract soldiers and families of those killed were still not receiving their payments despite trying to acquire them.

    In April, Ukraine published what it said was a recording of an intercepted call from a Russian soldier who claimed that Russia designated those killed as "missing in action" so it could deny full payouts to their families.

    Ukraine claimed in June that Russia has suffered 515,000 casualties, while Moscow does not release regular updates on how many of its soldiers were killed or wounded.

    Independent Russian outlet Mediazona, which tracks the names of those killed in the war, estimated in a July 5 update that between 106,000 to 140,000 Russian troops have died, including 39,000 this year.

    Yearly cost of treating PTSD at 2% of budget, researchers say

    Lattanzio and Stevens also estimated the cost of Russia treating Post-Traumatic Stress Disorder among its servicemen, arriving at about $15,000 yearly for each patient treated.

    They used cost figures from the US on its own PTSD treatment, adjusted them for purchasing power parity in Russia, and assumed that 500,000 Russian veterans would acquire some "sort of post-traumatic stress disorder" from the war.

    In total, this amounts to a yearly 660 billion rubles, or $7.4 billion, to treat PTSD from the war, which is about 2% of Russia's total budget.

    Russia plans to spend nearly a third of its total 2024 budget on defense, or about 10.8 trillion rubles, which is $122 billion.

    That's nearly double the amount it spent on defense in 2023, and much of the funds are expected to flow toward weapons production.

    Many observers say such a skew toward military expenditure indicates that Russia intends to fight out the Ukraine war for a prolonged period.

    "By staking everything on rising military expenditure, the Kremlin is forcing the economy into the snare of perpetual war," wrote analysts from the Carnegie Endowment for International Peace's Russia and Eurasia Center.

    Read the original article on Business Insider

  • Very big dividend yields are expected from these ASX stocks

    A young woman with her mouth open and her hands out showing surprise and delight as uranium share prices skyrocket

    Looking for big dividend yields? Then check out these ASX dividend shares listed below.

    As well as potentially being undervalued, analysts are tipping them to provide larger than average yields in the near term.

    Let’s see what they are forecasting from these shares:

    Eagers Automotive Ltd (ASX: APE)

    The first ASX dividend stock that analysts are tipping as a buy is Eagers Automotive. It is the leading automotive retail group in the Australia and New Zealand region with a proud history stretching back over a century.

    The team at Morgans remains positive on the company the tough trading conditions it is facing this year. In fact, it thinks that significant share price weakness has created a compelling buying opportunity for income investors.

    The broker recently put an add rating and $14.35 price target on its shares.

    As well as plenty of upside, its analysts are expecting big yields. They are forecasting fully franked dividends of 72.7 cents per share in FY 2024 and then 74 cents per share in FY 2025. Based on its current share price of $10.21, this represents dividend yields of 7.1% and 7.25%, respectively.

    GDI Property Group Ltd (ASX: GDI)

    Another ASX dividend stock that could provide big dividend yields is GDI Property. It is a property owner and fund manager with investments in Greater Sydney, Brisbane, Perth, South East Queensland, and North Queensland.

    Bell Potter sees a lot of value in its shares at current levels. The broker has a buy rating and 75 cents price target on its shares.

    As for that all-important income, the broker is forecasting dividends per share of 5 cents across FY 2024, FY 2025, and FY 2026. Based on the current GDI Property share price of 57 cents, this implies dividend yields of 8.8% for the next three years.

    Universal Store Holdings Ltd (ASX: UNI)

    A final ASX dividend stock that could provide great option for income investors is Universal Store. It is a youth fashion retailer that operates stores under the Universal Store, Thrills, and Perfect Stranger names.

    Morgans is also positive on the company and believes it is well-placed for growth. It notes that its “growth opportunities are in place” and that “customers continue to respond well to the Universal Store banner.”

    The broker currently has an add rating and $6.50 price target on its shares.

    As for dividends, the broker is forecasting fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on its current share price of $4.99, this will mean yields of 5.2% and 5.8%, respectively.

    The post Very big dividend yields are expected from these ASX stocks appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Eagers Automotive Ltd right now?

    Before you buy Eagers Automotive Ltd shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Eagers Automotive Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Universal Store. 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 Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Up 26% this year, what’s the view on IAG Shares?

    Modern accountant woman in a light business suit in modern green office with documents and laptop.

    Insurance Australia Group Ltd (ASX: IAG) shares have surged 26% this year to date and are trading at $7.16 per share at the time of writing.

    It’s been a blockbuster twelve months for the insurance giant. From July through December 2023, the stock traded in a range of around $5.50 to $6.10 per share.

    But as we rolled into the new year, things changed. It has now rallied from lows of $5.55 in January to its current levels.

    With such impressive gains, you might wonder if it’s too late to buy IAG shares. Let’s dive into what’s driving this performance and what to expect moving forward.

    IAG shares surge this year

    IAG shares are up this year following a number of company-specific updates. The most recent gains are partly due to a $2.5 billion, five-year agreement with Berkshire Hathaway Inc‘s subsidiaries for reinsurance protection.

    This deal provides IAG with up to $680 million in additional protection per annum starting in FY 2025. It aims to cap natural perils costs at $1.28 billion this financial year.

    Investors may have been bullish, given that Berkshire is Warren Buffett’s conglomerate. Or, it may be due to the company’s reinforced position, as its CEO said it plays a “critical role as an economic shock absorber” in Australia and New Zealand.

    IAG’s HY FY24 financials were also reasonably strong.

    Gross written premium (GWP) increased by 12.5% to $7.9 billion, whereas insurance profit rose by nearly 75% to $614 million.

    The company also declared an interim dividend of 10 cents per share and announced a $200 million on-market share buyback. These are shareholder-friendly moves, in my view.

    Investors seem to think so as well. Since the insurer posted its half-year numbers in February, IAG is up by $1.10 per share.

    What’s the view on IAG shares?

    We can never predict the stock market’s future movements. But one thing for sure is that we don’t want to overpay to buy a share.

    IAG shares currently trade on a price-to-earnings ratio (P/E) of 22.6 times. This says that investors are paying $22 for every $1 of the company’s earnings.

    This is more expensive than the 18 times multiple for the iShares Core S&P/ASX 200 ETF (ASX: IOZ), which tracks the benchmark index.

    Therefore, you are paying a premium in buying IAG today.

    What do analysts say?

    Analysts are also split on whether to buy the company now or not.

    Goldman Sachs has a neutral rating on IAG shares and a 12-month price target of $6.72. It notes potential risks like volume loss due to rate increases and persistent claims inflation.

    However, it also acknowledges IAG’s strong rate cycle and capital flexibility. The “operating leverage on its expense ratio” could also drive growth, it says.

    Citi, on the other hand, favours IAG over rival Suncorp Group Ltd (ASX: SUN) due to its cost-cutting opportunities and earnings growth. But it values the stock at $6.75 apiece – around 6% lower than where it currently trades.

    CommSec data indicates that the consensus of analyst ratings for IAG shares is a moderate buy, with 5 buy ratings and 7 hold ratings.

    At the time my colleague Bronwyn covered IAG back in May, this split was 4 rating it a buy, 9 rating it a hold, and 1 analyst rating it a sell.

    As such there is now 1 more firm that rates IAG a buy versus 2 months ago, and none rating it a sell.

    Foolish takeaway

    In my opinion, the view on IAG shares is currently bullish. Although, whilst some brokers are bullish, the stock has rallied past their price targets. There is no saying if they will revise these numbers.

    One thing is true – the stock has several tailwinds behind it. But the risk is in overpaying at a 22 times P/E ratio, which is higher than the ETF tracking the benchmark index.

    Regardless of the outcome, remember to conduct your own due diligence.

    The post Up 26% this year, what’s the view on IAG Shares? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Insurance Australia Group Limited right now?

    Before you buy Insurance Australia Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Insurance Australia Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway and Goldman Sachs Group. The Motley Fool Australia has recommended Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • JB Hi-Fi shares leap to record high despite legal scuffle

    JB Hi-Fi staffer helping customer share price

    JB Hi-Fi Ltd (ASX: JBH) shares are basking in a buying frenzy today, rising to an unprecedented level.

    Australia’s well-known retailer is fetching $65.65 per share, up 2% from yesterday. Yet the most impressive number today is $66.33, JB Hi-Fi’s new all-time high share price.

    The major price milestone is being shared among several ASX 200 companies today, including Commonwealth Bank of Australia (ASX: CBA) and Xero Ltd (ASX: XRO).

    However, if you haven’t already spotted the difference, JB Hi-Fi is the only record-setter that’s also hitting headlines today for being in hot water with the Australian Competition and Consumer Commission (ACCC).

    Promotional problem goes to court

    The corporate watchdog is taking a subsidiary of JB Hi-Fi to Federal Court on allegations of ‘false or misleading’ representations.

    According to the release, the ACCC is pursuing The Good Guys for allegedly misrepresenting store credit promotions that were run between July 2019 and August 2023. The promotions, dubbed ‘StoreCash,’ purportedly failed to give this credit in accordance with their stated requirements.

    Specifically, the ACCC alleges the promotions inferred a ‘qualifying purchase’ was the only condition for store credit despite customers also needing to approve marketing communications.

    The legal headache for the JB Hi-Fi subsidiary doesn’t stop there. Further allegations are levelled at The Good Guys over expiration periods communicated to customers. On this, ACCC chair Gina Cass-Gottlieb states:

    We also understand that, for the majority of promotions, the store credit being offered expired within a very short period of time of ten days or less, which many consumers were unaware of.

    If the allegations are true, the ACCC worries shoppers may have purchased items under false pretences.

    Lastly, the corporate watchdog also alleges that store credits weren’t provided promptly to ‘thousands of eligible consumers’ even when the consumer met all conditions.

    The Good Guys, an electronics and white goods retailer, was acquired by JB Hi-Fi in September 2016 for $870 million.

    The ACCC is seeking consumer redress, penalties, and costs, among other actions, through the Federal Court.

    Why are JB Hi-Fi shares breaking records?

    Despite the worrying legal news, JB Hi-Fi shares are firmly in the green. A tangle with the ACCC appears unable to squash bullish sentiment.

    Today’s optimism is widespread. Only 37 of the top 200 ASX-listed companies are falling in afternoon trade. Moreover, not a single sector is in the red — a telling sign of indiscriminate confidence in the Australian share market.

    Lastly, JB H-Fi addressed the ACCC’s actions with an ASX announcement. The company states it ‘takes its compliance with the law very seriously and has a comprehensive compliance program in place’. Maybe that’s enough to quell any concern among holders of JB Hi-Fi shares for now.

    The post JB Hi-Fi shares leap to record high despite legal scuffle appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Jb Hi-fi Limited right now?

    Before you buy Jb Hi-fi Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Jb Hi-fi Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    Motley Fool contributor Mitchell Lawler has positions in Commonwealth Bank Of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Jb Hi-Fi. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.