Jun.14 — China has reported 49 new coronavirus cases as fears mount of a second wave. 36 of those cases are in Beijing linked to a market which is now closed. Bloomberg’s John Liu reports on “Bloomberg Daybreak: Asia.”
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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing the benchmark index is down 0.25% to 5,833.3 points.
Four shares that have fallen more than most today are listed below. Here’s why they are dropping lower:
The ASX Ltd (ASX: ASX) share price is down 1.5% to $84.10. This appears to have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the stock exchange operator’s shares to a lighten rating with a $78.00 price target. It believes trade volumes may have peaked and appears concerned over futures volumes.
The Domain Holdings Australia Ltd (ASX: DHG) share price has fallen 5.5% to $3.14. Investors have been selling the property listings company’s shares despite auction clearance rate improving in Melbourne and Sydney last week. According to CoreLogic, combined capital city preliminary auction clearance rate hit 63.3% last week. It was also the busiest week for auctions in almost two months. Investors may have been anticipating an even stronger clearance rate.
The Tyro Payments Ltd (ASX: TYR) share price has fallen almost 6% to $3.58. This follows the release of its latest weekly update. According to the release, as of June 12, Tyro Payments’ transaction value was up 6% month to date compared to the prior corresponding period. Investors may have been expecting a bigger jump in volumes now restrictions are easing.
The Wesfarmers Ltd (ASX: WES) share price has dropped over 2.5% to $41.32 despite there being no news out of the conglomerate. However, prior to today, the Wesfarmers share price was up 12% in the space of a month. This may have led to some investors deciding to take a bit of profit off the table today.
Need a lift after these declines? Then you won’t want to miss the recommendations below…
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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 Tyro Payments. The Motley Fool Australia owns shares of Wesfarmers 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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At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) has failed to follow the lead of international markets and is dropping lower. The benchmark index is down 0.3% to 5,831.3 points currently.
Here’s what has been happening on the market today:
The big four banks have had a subdued start to the week. At lunch just the Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher with a 0.15% gain. Whereas the worst performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a 0.15% decline. Investors appear undecided on where the banks are going from here after a volatile few weeks.
The Healius Ltd (ASX: HLS) share price has surged higher on Monday after announcing the sale of its medical centres to BGH Capital. According to the release, the healthcare company has agreed a fee of $500 million with the private equity firm. Completion of the transaction is expected to occur before the end of 2020. However, it remains subject to a number of conditions, including approval by the Foreign Investment Review Board.
The Super Retail Group Ltd (ASX: SUL) share price was placed in a trading halt this morning. The retail group requested the halt while it launches an underwritten accelerated pro-rata non-renounceable entitlement offer to raise approximately $203 million at $7.19 per share. Management believes this equity raising will allow the company to continue to execute its strategy and pursue strategic growth initiatives. Super Retail also revealed that its like for like sales rebounded strongly in May.
The Healius share price is leading the way on the ASX 200 on Monday with a sizeable 11% gain. Investors appear to see value in its plan to sell its medical centres to BGH Capital. The worst performer on the index has been the Domain Holdings Australia Ltd (ASX: DHG) share price with a 5% decline. This is despite auction clearance rates improving in Melbourne and Sydney at the weekend.
3 “Double Down” Stocks To Ride The Bull Market
Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon three under-the-radar stock picks he believes could be some of the greatest discoveries of his investing career.
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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 Super Retail Group 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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The end of the financial year is a little more than a week off and there’s one tax tip that could save you thousands if you act quick.
This often overlooked exercise is to maximise your concessional superannuation contribution, and this financial year could be a particularly important time to undertake this review for many investors.
For many, things were going well prior the COVID-19 crisis. Jobs were relatively easy to find, the economy was strong and the S&P/ASX 200 Index (Index:^AXJO) was trading at record highs.
Things looks a little more challenged for FY21 and things may not be quite as good as it was this financial year.
If you share a similar outlook, then it especially makes sense to see if you can reach your concessional super cap before June 30.
Just remember, this article isn’t tax advise and is only general information. You should check with your accountant to see if it’s right for you.
Many do not think about super because – let’s face it, it’s boring. Also, people tend to think this is only something to worry about in the distant future as you can’t access it till you retire.
So, if you don’t know what concessional contributions are, you won’t be alone!
The most common type of concessional contribution is the super paid by your employer. While the amount makes up part of your total remuneration package, you don’t pay personal income tax on your super contribution.
But you can contribute more to your super on your own (called personal contribution), as long as you follow the rules.
Individuals are allowed to put in up to $25,000 a year into their super and deduct that from their taxable income. The contribution is taxed in the super fund at 15%.
As most taxpayers have a marginal tax rate in excess of 15%, the tax savings can be substantial, particularly since you can carry-forward unused concessional contributions limits if your super balance is under $500,000.
This carry-forward feature is only available from 1 July 2018 onwards and it’s on a five-year rolling basis. After which, unused carry forward “credits” that are unused will expire.
So, if you’ve received nothing in your super in FY19, you can put up to $50,000 into your super under the concessional scheme and deduct that from your taxable income.
Depending on your marginal rate, this could shave thousands off tax bill.
You can find out more information at the ATO website.
But as I mentioned earlier, you must check with your tax professional to see if this strategy works for you.
One trick to potentially generating life-changing wealth from the stock market is to buy early-stage growth companies when their share prices still look dirt cheap.
Motley Fool’s resident tech stock expert Dr. Anirban Mahanti has identified 5 stocks he thinks are screaming buys. And you can buy them now for less than $5 a share!
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Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. Connect with me on Twitter @brenlau.
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 Vocus Group Ltd (ASX: VOC) share price fell as low as $1.80 in mid-March. Since then the company’s share price has rallied strongly, regaining a substantial portion of its losses since late February.
Vocus has been working hard to turn around its business after a challenging few years.
So does the Vocus share price make it a solid long-term buy right now?
Let’s first take a recap on exactly how Vocus fits into the Aussie telco landscape.
Vocus is a specialist fibre and network solutions provider. Its services include broadband, fibre, data centre services and Unified Communications.
The telco mainly targets the enterprise, government, wholesale and small business markets. It also has a smaller presence in the residential sector offering fixed broadband.
Vocus operates fibre networks connecting most regional centres in Australia, which then connect with Asia. Vocus also operates a network in New Zealand.
Founded in 2008, Vocus grew significantly in scale during 2015 and 2016. During that time, it merged with retail telco M2 Communications and also acquired Amcom and Nextgen Networks. Both of these telcos target the corporate market.
The last few years have been challenging for the company. The Vocus share price rose strongly through the last decade up until mid 2016. However, it subsequently dropped sharply over the following 12 months into 2017. Since then, it’s never really recovered to its previous highs.
Vocus reported a 7% decline in total revenue to $902 million for H1 FY2020. Retail in particular was hit hard, suffering a 12% decline to $382 million. The Retail business was impacted by a loss of market share in its National Broadband Network (NBN) segment.
Over the past few years Vocus’s retail division has struggled. This has been mainly due to the tight margins offered to retail fixed broadband operators under Australia’s NBN.
Despite this performance, I believe the company is now becoming better positioned for solid growth over the next few years which could be good news for the Vocus share price. The group is just beyond the mid-point of a 3-year turnaround strategy. This includes investments in new capabilities to grow its Network Services division. This division has continued to see strong sales momentum through a solid pipeline of new opportunities.
EBITDA for H1 FY 2020 increased by 2% to $179.3 million for H1 FY2020, driven by a stronger performance in its Network Services and New Zealand businesses. Vocus is also providing stimulus to its retail segment to help turn it around.
On another positive note, Vocus recently reiterated its FY 2020 guidance. The group expects its FY 2020 EBITDA to be in the range of $359 million to $369 million. Vocus also expects its core Network Services business to deliver EBITDA growth of 10% in FY 2020.
As a specialist fibre and network services provider, I believe that Vocus is well positioned to capitalise on the rollout of 5G services over the next few years. Also, moving forward, NBN Co will place greater emphasis on making efficient use of existing fibre infrastructure. Vocus is well placed to capitalise on this opportunity which it could potentially exploit by using its existing telco networking infrastructure to partner with NBN Co.
However, the company’s retail division still faces challenges, despite encouraging signs of revenue stabilisation. In addition, the Vocus share price has rallied strongly since mid-March.
Having said that, on balance, I still think Vocus offers investors a reasonably solid, long-term buy and hold opportunity.
For some more ASX bargain shares you might want to check out today, take a look at the report below!
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
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Motley Fool contributor Phil Harpur 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 Stavely Minerals Ltd (ASX: SVY) share price is flying higher today after the miner reported “another monster copper-gold hit” at its flagship project in western Victoria.
At the time of writing, Stavely Minerals shares are surging by 33.33% after being up by as much as 44.44% in early trade.
Stavely Minerals is a small-cap ASX mineral exploration company. It was formed in 2014 to acquire early to advanced-stage exploration projects with demonstrated high potential for additional discovery.
The company’s assets are located in Victoria, Queensland, and Tasmania. Its flagship project is the Stavely Project in western Victoria where the company is targeting a Cadia-style gold-copper porphyry and Lake Cowal-style gold mineralisation.
This morning, Stavely Minerals reported new assay results from the ongoing resource drilling program at the Thursday’s Gossan prospect, part of the company’s flagship copper-gold Stavely Project.
The drilling program is aimed at uncovering high-grade, near-surface copper-gold-silver mineralisation over a significant strike extent in the Cayley Lode.
Standout results from diamond drill hole SMD087 in the northern part of the Cayley Lode include:
The drilling returned individual interval grades of up to 24.1% copper, 10.05 g/t gold and 249 g/t silver.
Meanwhile, the base of the 24-metre interval hosted strong polymetallic mineralisation. This graded at 2 metres at 9.95% copper, 0.71 g/t gold, 107 g/t silver, 3.87% zinc, 1.18% lead, 0.89% nickel, 0.90% chromium and 0.05% cobalt.
In addition, diamond drill hole SMD085, the south-easternmost drill hole drilled so far in the Cayley Lode, returned:
According to the company, the intercept in SMD085 increases the defined strike extent of the Cayley Lode to 1.5 kilometres, with the deposit remaining open along strike in both directions and down-dip.
Stavely Minerals noted that the resource drill-out at the Cayley Lode is progressing well and is now more than 50% complete. This paves the way for a maiden JORC Mineral Resource estimate targeted for the second half of 2020.
Commenting on these latest results, executive chair Chris Cairns said:
“We continue to be surprised by the incredible consistency and continuity of mineralisation in the Cayley Lode, with the results reported today including significant intervals of strong copper-gold mineralisation in the northern portion of the deposit.”
“Due to the large overall interval of strong copper, gold and silver mineralisation in SMD087 and the significant gold grades in the high-grade sub-intervals, we consider this intercept to be on a par with the assays from the discovery drill hole SMD050,” he added.
Mr Cairns closed out his comments by saying, “the drilling continues to reveal local variations in the widths of the mineralisation, as we expected from the outset, but generally speaking the deposit is behaving exactly as we had hoped – with the resource drill-out now well advanced and generating some excellent data that will feed into our maiden JORC Mineral Resource estimate later this year.”
With a share price of 72 cents at the time of writing, Stavely Minerals’ current market capitalisation is sitting at around $154 million.
Looking to invest in larger and more liquid companies? Check out the exciting ASX growth shares in the free report below.
3 “Double Down” Stocks To Ride The Bull Market
Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon three under-the-radar stock picks he believes could be some of the greatest discoveries of his investing career.
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Motley Fool contributor Cathryn Goh 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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Australia’s tech sector is tiny and relatively immature compared to the much larger US tech sector market. However, Australia has some vibrant and fast-growing techs listed on the ASX including Redbubble Ltd (ASX: RBL), Nearmap Ltd (ASX: NEA), and Sezzle Inc (ASX: SZL) shares.
These companies have seen strong share price gains over the past few weeks – up to a 50% increase, in fact.
The share price of fast-growing aerial imagery and specialist location data company, Nearmap has grown strongly over the past few months. Over the past 4 weeks alone, this ASX tech share has seen its share price increase by 32.5%.
In a May market update, Nearmap noted that it is continuing to grow its subscriber base. This is particularly the case in the North American market. The company’s subscription revenue per subscriber also continues to rise. This trend is leading to improving overall margins.
Nearmap has also recently launched its new artificial intelligence (AI) product to subscribers in Australia and North America.
Another ASX tech share to watch out for is Redbubble. It owns and operates a leading global marketplace for independent artists. Its share price has risen by an impressive 36.8% over the past 4 weeks. This follows on from a share price rally that began in late March.
In a market update back in early April, Redbubble revealed that it believes it is well placed to endure the coronavirus outbreak. In a further market update in late April, Redbubble revealed that its marketplace revenue totalled $246 million for the year-to-date. That amounted to an impressive year-on-year growth of 25%. Redbubble is benefiting from the trend of consumers moving to the online environment for their shopping experience.
Speaking of another company benefitting from consumers shopping online, Sezzle is a buy-now-pay-later fintech provider listed on the ASX but based in the US. Its main competitors include Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P).
Sezzle shares have grown by 50.2% in the past 4 weeks. In addition, they’ve grown by over 500% since late March.
During the quarter containing March, underlying merchant sales (UMS) surged 321% year-on-year. April was a particularly strong month for Sezzle. UMS came in at $57.9 million, a monthly record, despite the challenge of the coronavirus pandemic.
Sezzle mainly targets the Gen Z and millennial consumer demographics. Both these large and fast-growing age segments are very tech-savvy. Therefore, this type of online lending appeals to them.
In addition, Sezzle added 114.4K active customers in April. In further positive news, merchant fees remained resilient during that month.
Top recent performing categories for Sezzle include leisure, outdoor, electronics, sport and medical.
For more shares worth looking at for your portfolio, check out our free Fool report below.
3 “Double Down” Stocks To Ride The Bull Market
Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon three under-the-radar stock picks he believes could be some of the greatest discoveries of his investing career.
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Phil Harpur owns shares of AFTERPAY T FPO and Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Nearmap Ltd., REDBUBBLE FPO, and 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) has given back its earlier gains and dropped lower. At the time of writing the benchmark index is down 0.5% to 5,817.1 points.
Four shares which haven’t let that hold them back are listed below. Here’s why they are racing higher:
The Appen Ltd (ASX: APX) share price is up 3.5% to $30.48. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has commenced coverage on the artificial intelligence company with an outperform rating and $38.00 price target. Macquarie believes that Appen’s Relevance segment is well placed for strong long term growth.
The Healius Ltd (ASX: HLS) share price has jumped 11% to $2.81. This follows an announcement by the healthcare company this morning which revealed that it has agreed to sell its medical centres to BGH Capital. Healius has agreed a fee of $500 million with the private equity firm. Completion of the transaction is expected to occur before the end of 2020. It remains subject to a number of conditions including approval by the Foreign Investment Review Board.
The IDP Education Ltd (ASX: IEL) share price is up 2% to $16.66. Investors have been buying the student placement and language testing company’s shares after analysts at Morgan Stanley retained their overweight rating and $17.50 price target. It appears confident in its long term outlook despite the difficult trading conditions it is currently experiencing.
The Propel Funeral Partners Ltd (ASX: PFP) share price is up 3% to $2.97 after the funeral company released a trading update. According to the release, Propel experienced an 8% increase in its average revenue per funeral metric during the month of May. This follows the easing of social distancing limits. As a result, the company is on track for another record year and expects revenue of $110 million and operating earnings of $32 million in FY 2020.
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We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
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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 Idp Education Pty Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Propel Funeral Partners 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.
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