In morning trade the Iress Ltd (ASX: IRE) share price is pushing higher after providing an update on its potential takeover of Onevue Holdings Ltd (ASX: OVH).

At the time of writing the financial technology company’s shares are up 2% to $9.72 and the OneVue share price is up 7.5% to 42.2 cents.

What did Iress announce?

This morning Iress announced that it is making its best and final offer to acquire OneVue.

According to the release, Iress has increased the consideration under the proposed scheme of arrangement from 40 cents per share to 43 cents per share.

The two parties have subsequently entered into an amended scheme implementation agreement which reflects the increased consideration.

Iress’ chief executive, Andrew Walsh, revealed that the company decided to increase its offer following feedback from OneVue shareholders.

He commented: “The original offer price of 40 cents per share was unanimously recommended by the OneVue Board. It was towards the upper end of the independent expert’s valuation range and represented a 67% premium to OneVue’s closing share price on 28 May 2020.”

“While overall feedback from OneVue shareholders has been very positive regarding the Scheme, Iress has considered all shareholder feedback and decided to increase consideration to 43 cents per share to give the Scheme the greatest chance of success. This revised price is at the top of the independent expert’s valuation range of 36 cents to 43 cents per OneVue share and represents a 79% premium to the 28 May 2020 closing share price,” he added.

What now?

OneVue directors continue to unanimously recommend that its shareholders vote in favour of the scheme. This is in the absence of a superior proposal and subject to the independent expert continuing to conclude that the scheme is in their best interests.

They also note that the independent expert has warned that there could be significant downside risk for OneVue shares if the scheme is unsuccessful.

This was echoed by Iress’ chief executive.

Mr Walsh concluded: “If OneVue shareholders view the offer as attractive, we encourage them to vote in favour. If the Scheme is unsuccessful, the independent expert has indicated there is a risk that the OneVue share price will fall below our original offer. On 28 May 2020, OneVue was trading at 24 cents per share.”

More reading

• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended IRESS 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.

The post OneVue (ASX:OVH) share price zooms higher after Iress (ASX:IRE) increases takeover offer appeared first on Motley Fool Australia.

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It certainly hasn’t been a great month for the Sezzle Inc (ASX: SZL) share price.

Prior to today, the buy now pay later provider’s shares were down a very disappointing 42.2% since the start of the month.

This decline has been driven by concerns over the imminent launch of a buy now pay later product by payments giant PayPal in the United States and a profit-taking tech selloff on the Nasdaq index.

Fortunately for its shareholders, the Sezzle share price is heading in the right direction on Monday.

At the time of writing the company’s shares are up 4.5% to $6.82.

Why is the Sezzle share price shooting higher on Monday?

As well as getting a boost from a strong night of trade on the Nasdaq index on Friday, investors have responded very positively to the release of an announcement this morning.

That announcement reveals that the Afterpay Ltd (ASX: APT) rival has signed a proof of concept agreement with one of the world’s largest retailers.

According to the release, Sezzle has commenced a proof of concept with US$77 billion retailer, Target Corporation. This will see the company’s buy now pay later platform used for limited tests with a small portion of Target.com guests in two product categories. 

The trial is being undertaken to evaluate the efficacy of the Sezzle platform for Target’s retail operations.

However, management has warned investors not to get too excited with this news.

It warned: “The POC is preliminary in nature and does not represent any guarantee of a future commercial contract. Sezzle will provide a further update to the market at the conclusion of the POC, with the timing of this not yet known.”

Should you invest?

While this is a promising development, I feel it is far too soon to consider it as part of an investment thesis.

I would suggest investors keep their powder dry until the company releases an update following the conclusion of the trial.

More reading

• ASX 200 jumps 2.4% higher, numerous shares rise
• Why Afterpay, Nufarm, PolyNovo, & Sezzle shares are racing higher today
• Sezzle (ASX:SZL) share price on watch after announcing Ally Lending partnership
• The Sezzle (ASX:SZL) share price is up 15% this week
• How an ASX share turns $100 into $1,000

James Mickleboro has no position in any of the stocks mentioned. 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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The ASX share market has rebounded quite strongly from March to June this year. The S&P/ASX 200 Index (ASX: XJO) saw its value plummet 36% as COVID-19 impacted in March. It is now sitting half-way between its 52-week high and low range.

However, the share market has stagnated of late. And despite many ASX shares recovering from their ultra-low share prices, there are still companies that are bargain buys.

I think it’s possible that the market has seen its absolute bottom and will now continue to rise. Here’s my pick of 3 top ASX shares that I believe are in the buy zone today.

Credit Corp Group Limited (ASX: CCP)

COVID-19 wreaked havoc on Australia’s largest debt buyer and collector. The Credit Corp share price has tumbled more than 55% since February, to $16.46. Economic uncertainty has cast a slowdown in customers committing to long-term debt arrangements.

While government stimulus packages have provided relief to consumers until March, recent data shows that unemployment levels are easing. Credit Corp is in a unique position to benefit from the pandemic with higher debt volumes for sale.

At this price, I think Credit Corp shares are good value for patient investors. The company is an established market leader and has a strong business model that will grow its books.

Nearmap Ltd (ASX: NEA)

Nearmap is a leading specialist in high-resolution aerial imagery and location data. Early in the month, Nearmap surprised investors with a capital raise to fund growth opportunities. This sent the Nearmap share price south from reaching a 52-week high of $3.22 in late August to $2.23 today.

No doubt, the forthcoming dilution of shareholder value led the 30% fall in the Nearmap share price.

The extra liquidity will be used to increase investment in sales and marketing for its North American segment. In addition, Nearmap will also look to speed-up its HyperCamera3 system that will enable expansion into new geographical markets. Both these initiatives are projected to boost revenue by a decent margin.

I would consider Nearmap a buy at its current share price. I think this ASX growth share is undervalued and could soar in the near-future.

Woodside Petroleum Limited (ASX: WPL)

Australian oil and gas company Woodside has been heavily sold off by investors this year. This was the result of both the impact of coronavirus on the global economy and a pricing war between Russia and Saudi Arabia. The knock-on effects sent the price of oil into negative territory for the first time in history.

The price of crude oil has now stabilised around US$40, a long way off from its US$76 high in June 2018.

The Woodside share price has tanked from its 52-week high of $36.28 to Friday’s market close of $18.32. This represents a discount of 50%, which is why I think it’s trading at attractive levels for a long-term investor.

Oil is known as the lifeblood of industrialised nations. Global traffic will eventually resume, with international travel and logistical supply chains set to renew demand for the precious resource.

More reading

• 3 ASX shares with dividend yields above 10%
• How to make money by investing in ASX 200 shares
• Westpac (ASX:WBC) and 2 more ASX 200 shares to watch this week
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• 5 things to watch on the ASX 200 on Monday

Aaron Teboneras owns shares of Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Nearmap 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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The PointsBet Holdings Ltd (ASX: PBH) share price could be on the move on Monday after releasing an update on its U.S. operations.

What did PointsBet announce?

This morning the sports betting company announced that it has launched retail sports betting operations in the State of Illinois and has now taken the first retail bet at the Hawthorne Race Course. This follows the launch of online operations in the state earlier this month.

In addition to this, the company revealed that it has signed a deal in the state with the Chicago Bears NFL franchise.

PointsBet is the first official sports betting partner of the Chicago Bears and will gain usage of trademarks and logos. It will also have sponsorship opportunities and brand visibility across various digital assets.

Further NFL deal.

The Chicago Bears isn’t the only team that PointsBet has just signed up.

The company advised that it has entered into a deal which will see it become an official sportsbook partner of the Indianapolis Colts NFL franchise.

As with the Chicago Bears deal, PointsBet will gain usage of trademarks and logos, as well as sponsorship opportunities and brand visibility across digital assets.

One such sponsorship opportunity it has seized is the Official Colts Podcast, which is circulated across the team’s various digital assets.

PointsBet has also been given access to mobile app push notifications for Indianapolis Colts regular season games prior to kick off.

Johnny Aitken, PointsBet USA’s CEO, was very pleased with these deals.

He commented: “The PointsBet team is incredibly excited to become a sportsbook partner of both the Bears and Colts. We are teaming up with first-class organizations, supported by extremely passionate fans.”

“Since launching our fast and differentiated mobile sports betting app in Indiana and Illinois, we’ve been thrilled by the reception of local sports bettors in both states. We’ve always viewed Indiana and Illinois to be significant markets for the PointsBet brand, and we look forward to increasing our presence alongside famed partners in the Indianapolis Colts and the Chicago Bears,” he concluded.

More reading

• Is it too late to buy the PointsBet (ASX:PBH) share price? 
• PointsBet (ASX:PBH) share price higher on U.S. expansion news
• Should you buy the PointsBet (ASX:PBH) share price after its capital raising? 
• Why Accent, Afterpay, Nine, & PointsBet shares are dropping lower today
• Why the PointsBet (ASX:PBH) share price tumbled 21% lower today

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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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 PointsBet (ASX:PBH) share price in focus after U.S. update appeared first on Motley Fool Australia.

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Everyone wants to make money in the sharemarket. ASX 200 shares have been volatile in recent times which can make it hard to see where and how to invest. 

The S&P/ASX 200 Index (ASX: XJO) jumped 1.5% higher last week and now could be a good time to buy.

Here are a few of my top tips that I think can help Fools make money by investing in top-quality shares today.

How to make money by investing in ASX 200 shares

1. Decide on an investment strategy

The average “retail” or individual investor can be their own worst enemy. Too often I have sold out of strong ASX 200 shares because I’m worried about potential losses.

People tend to be loss averse but risk-seeking. Those two concepts don’t really match up because you need to take some risk to get strong returns but don’t want to see your investments fall.

The best way to combat this is by creating your own investment strategy. I like to set targets for when I would buy and sell a particular ASX 200 share. That could mean if it gets to a particular price target I sell and if it falls more than 20% I sell, or I’m only allowed to invest 5% of my portfolio in small cap shares.

It doesn’t really matter what the rules are as long as you stick to them and get out of your own way!

2. Buy for the long-term (don’t gamble!)

I think this is really critical. One of the mistakes I made early on in my investing journey was chopping and changing too much.

 Of course, not all of your investments will pan out. There will be ASX 200 shares that rocket higher like Afterpay Ltd (ASX: APT) and those that crash and burn.

The key is to try and minimise the losers while giving the potential winners time to run. Buying and selling over short time horizons is a good way to lose a lot of money in tax and transaction costs.

Rather than constantly buying the next hot stock, I think it’s best to have a diversified portfolio of growth and dividend shares across a number of sectors.

3. Invest in high-quality ASX 200 shares

This follows on from the point above. Buying high-quality ASX 200 shares is the key to building long-term wealth.

It’s best to drown out the noise regarding the next hot tip from your friend or the local taxi driver. Do your research and invest in companies with a strong competitive “moat” around their business and real long-term growth potential.

There are a few ASX 200 shares that I’ve got my eye on at the moment. For non-cyclical exposure I like Coles Group Ltd (ASX: COL) while I think Transurban Group (ASX: TCL) shares could be a secret cash cow.

More reading

• Westpac (ASX:WBC) and 2 more ASX 200 shares to watch this week
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• 5 things to watch on the ASX 200 on Monday
• 10 fantastic ASX shares to buy in October
• 5 things to watch on the ASX 200 next week

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO, COLESGROUP DEF SET, and Transurban Group. 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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Every Monday I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Webjet Limited (ASX: WEB) remains the most shorted ASX share by some distance after its short interest rose to 17.7%. It appears as though short sellers believe Webjet shares are vastly overvalued at the current level given the weak outlook for travel markets.
• Speedcast International Ltd (ASX: SDA) has short interest of 11.15%. This communications satellite technology provider’s shares have been suspended almost all year whilst it undertakes its chapter 11 recapitalisation. When it eventually returns to trade, short sellers will no doubt be cashing in greatly.
• Myer Holdings Ltd (ASX: MYR) has seen its short interest rise to 11%. The department store operator’s short interest has risen consistently since the release of its full year results. Myer posted a 41.6% decline in EBITDA to $305.3 million. Short sellers don’t appear confident FY 2021 will be any better.
• InvoCare Limited (ASX: IVC) has short interest of 9.9%, which is up week on week once again. This funerals company has come under attack from short sellers since the release of its weak half year result. It appears as though they expect the difficult trading conditions to persist.
• Inghams Group Ltd (ASX: ING) has 8.3% of its shares held short, which is up slightly week on week. This poultry company has been battling with higher input costs and an unfavourable shift in its sales mix.
• FlexiGroup Limited (ASX: FXL) has 8% of its shares held short, which is down slightly week on week. The financial services company posted a 62% decline in cash profit during FY 2020. Judging by its high level of short interest, short sellers may be expecting another poor result in FY 2021. 
• CLINUVEL Pharmaceuticals Limited (ASX: CUV) has seen its short interest fall to 7.8%. The biopharmaceutical company recently announced plans to extend the use of its SCENESSE product to treat xeroderma pigmentosum. This may have led to some short sellers closing positions.
• Bank of Queensland Limited (ASX: BOQ) has seen its short interest rise again to 7.7%. Short sellers have been going after this regional bank after it warned that difficult trading conditions were likely to persist over the near term. Though, I suspect that recent changes to responsible lending rules may cause a rethink from some short sellers.
• Corporate Travel Management Ltd (ASX: CTD) has entered the top ten with short interest of 7.4%. Rising coronavirus cases globally appear to be the catalyst for this.
• Flight Centre Travel Group Ltd (ASX: FLT) is another new entry to the top ten with 7.1% of its shares held short. As with Corporate Travel Management, this appears to be related to the bleak outlook for travel markets due to rising coronavirus cases.

More reading

• Will the Corporate Travel (ASX:CTD) share price surge in 2021?
• Top brokers name 3 ASX shares to sell next week
• ASX 200 finishes the week with a bang
• ASX 200 jumps 2.4% higher, numerous shares rise
• Why the Flight Centre (ASX:FLT) share price and Webjet (ASX:WEB) share price are taking off

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended FlexiGroup Limited, Flight Centre Travel Group Limited, and InvoCare 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.

The post These are the 10 most shorted ASX shares appeared first on Motley Fool Australia.

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It was a positive week for ASX 200 shares as the S&P/ASX 200 Index (ASX: XJO) jumped 1.7% higher to 5,964.90 points.

That was largely driven by something of a tech rebound while the Aussie banks also propelled the benchmark index to a strong close on Friday.

Looking at the week ahead, it could be another big one. Victoria is looking to ease restrictions while there could be some adjustments in other ASX shares that have rocketed higher.

Here are three of my top ASX 200 shares that I’ll be watching in the week ahead.

Westpac and 2 more ASX 200 shares to watch this week

I’m watching the Westpac Banking Corp (ASX: WBC) share price after its 7.4% surge to end last week’s trade. 

Westpac shares rocketed higher as the Federal Government looked to ease responsible lending laws and help kickstart the economy. That’s good news for potential bank earnings which saw ASX 200 bank shares become four of the top five performers on Friday.

Metcash Limited (ASX: MTS) shares fell 2.1% on Friday and are now up 12.6% for the year. I think there are a couple of things that are starting 

Metcash owns and operates a number of retailers including IGA, Mitre 10 and Home Timber & Hardware. The Metcash share price performed well during the March bear market as supermarket and home improvement sales surged.

That optimism has subsided although the ASX 200 retail share has still strongly outperformed. I think the Metcash share price is worth watching this week to see how investors think the Victorian easing restrictions could impact on its value.

Another retail-related share I’ve got my eye on is Scentre Group (ASX: SCG). Shares in the Aussie real estate investment trust (REIT) are down 42.9% for the year thanks to the coronavirus pandemic. 

However, the potential light at the end of the tunnel for Victorians could be good news for the Scentre share price. More freedom of movement and a step closer to shopping centres reopening is good news for Scentre’s tenants and therefore Scentre as a landlord.

Foolish takeaway

These are just a few of the ASX 200 shares I’ve got my eye on in the week ahead.

More reading

• How to make money by investing in ASX 200 shares
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• 5 things to watch on the ASX 200 next week

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Westpac (ASX:WBC) and 2 more ASX 200 shares to watch this week appeared first on Motley Fool Australia.

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The Corporate Travel Management Ltd (ASX: CTD) share price has been smashed this year but could it be set to surge in 2021?

Why the Corporate Travel share price has been smashed

The coronavirus pandemic has been the big factor here. ASX travel shares have been hit hard by border restrictions and the reduced ability to travel both domestically and internationally.

In fact, the Corporate Travel share price has now fallen 21.7% lower in 2020. That’s compared to a 10.8% drop in the S&P/ASX 200 Index (ASX: XJO) over that same time.

However, the ASX travel share has had something of a recovery in recent months and rocketed 85.1% higher since the start of August.

Will the ASX travel share surge in 2021?

I think there’s a bit to like about the Corporate Travel share price in 2021.

Restrictions are easing in Victoria which is good news for domestic travel at least. I think there’s a lot of political will to avoid another lockdown which should hopefully mean more certainty for businesses going forward.

With those falling case numbers across the country comes a potential re-opening of domestic borders. On top of that, Trade Minister Simon Birmingham is hoping for an Australia-New Zealand travel bubble to be in place by Christmas.

All of this points to the fact that the Corporate Travel share price could be worth a look right now. I think much hinges on how much government and business travel continues to pick up in 2021.

Foolish takeaway

With a strengthened balance sheet and prudent capital management in the short-term, things are looking up. I do think Corporate Travel is a better bet than rivals like Webjet Limited (ASX: WEB) given its focus on business-related travel rather than leisure.

If Corporate Travel can surprise with higher traffic and therefore higher earnings, I think it could shoot higher next year.

More reading

• Top brokers name 3 ASX shares to sell next week
• Why the Flight Centre (ASX:FLT) share price and Webjet (ASX:WEB) share price are taking off
• ASX 200 falls 0.7%, UK and travel shares drop
• Why the Regional Express (ASX:REX) share price is taking off today
• Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet 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 Will the Corporate Travel (ASX:CTD) share price surge in 2021? appeared first on Motley Fool Australia.

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The S&P/ASX 200 Index (ASX: XJO) shook off the malaise that has recently dominated market sentiment and delivered a 1.71% gain last week. It was the best week the ASX 200 has had in a month and a half and pulled the ASX 200 back towards the 6,000 point mark that it deserted earlier this month.

ASX bank shares go bananas

It was another topsy turvy week for the ASX 200, which saw the index down by 1.4% by the end of trading on Tuesday. But then a series of strong market rallies turned things around, including a massive day on Friday, which saw ASX 200 shares gain 1.5% on that day alone. This session was dominated by the big four ASX banks, most of which saw share price rallies of more than 6% on Friday. The Commonwealth Bank of Australia (ASX: CBA) share price was the outlier with a more muted 3% gain.

The catalyst for this major share price push was the decision by the government to weaken financial consumer protection laws, which (if proceeded with) will take the banks off the hook if any would-be borrowers give the banks false information relating to loan applications. Evidently, investors saw this as a major boon for the banks’ profits which led to this significant re-rating of bank shares. As the big four are all major top ten constituents of the ASX 200, this move in the banks’ share prices was largely behind the overall index’s positive performance last week.

It was an especially remarkable performance from Westpac Banking Corp (ASX: WBC) shares. Thursday saw an announcement that Westpac would have to foot a record $1.3 billion fine from AUSTRAC (the largest corporate fine in Australian history), which subsequently pushed Westpac shares to their lowest level in four months. But this was all forgotten on Friday when the Westpac share price rallied 7.4%.

In other news, ASX tech shares also had a positive (albeit patchy) week after some recent volatility. The S&P/ASX All Technology Index (ASX: XTX) was up 0.9% for the week, with sharp moves at market open on both Wednesday and Thursday — one up, one down. This was purely reflecting what was happening in US markets overnight, which seem to be the main source of direction for ASX tech shares these days.

How did the markets end the week?

Although the ASX 200 Index had a strong week, starting at 5,864.5 points and finishing up at 5,964.9 points for a week-to-week gain of 1.71%, it wasn’t a smooth line up over the week. Monday started the week off on a sour note with a 0.7% fall for the ASX 200. Then Tuesday doubled down with another 0.7% drop. Wednesday really turned things around with a 2.4% gain, which was blunted somewhat with a 0.8% drop on Thursday. However, it was Friday’s powerful 1.51% gain which sealed the good news for ASX investors for the week.

Over on the All Ordinaries Index (ASX: XAO), investors also had a good week. The All Ords started the week off at 6,057.6 points and finished up at 6,140.5 points for a week-to-week gain of 1.37%. Interestingly, Tuesday saw the All Ords dip below 6,000 points for the first time since late June.

Which ASX 200 shares were the biggest winners and losers?

Time now for some tea and biscuits as we pour over the Foolish gossip pages of last week’s biggest winners and losers. As always, we’ll start with a look at the losers:

Worst ASX 200 losers	% loss for the week
Ramelius Resources Limited (ASX: RMS)	(17%)
Gold Road Resources Ltd (ASX: GOR)	(13.02%)
St Barbara Ltd (ASX: SBM)	(12.76%)
Unibail-Rodamco-Westfield (ASX: URW)	(8.21%)

Last week’s wooden spoon went to gold miner Ramelius. All ASX gold miners, including Gold Road and St Barbara, were sold off last week as a consequence of the gold price sharply dropping to a two-month low, partly on the back of a stronger US dollar. Needless to say, with three of the four losing spots this week, it wasn’t a good week to own gold shares.

Also making the list was embattled real estate investment trust (REIT) Unibail-Rodamco-Westfield. Together with the next loser in line from last week — Virgin Money UK (ASX: VUK) — URW’s fall was likely due to the company’s connections to the United Kingdom. The UK is currently battling a second wave of coronavirus infections and this obviously doesn’t bode well for a shopping centre operator (or a bank). Investors have reacted accordingly.

With the losers out of the way, let’s now check out last week’s winners:

Best ASX 200 gainers	% gain for the week
Washington H. Soul Pattinson & Co. Ltd (ASX: SOL)	14.35%
Whitehaven Coal Ltd (ASX: WHC)	13.48%
Service Stream Limited (ASX: SSM)	12.22%
Abacus Property Group (ASX: ABP)	11.65%

Last week’s winning spot went to industrial conglomerate Soul Patts. Investors were very excited over the company’s full-year results which were released to the market on Thursday morning. These results included Soul Patts’ 20th consecutive annual dividend increase, a feat unmatched by any other ASX 200 company. No surprise investors chose to award high marks.

Next up we had coal miner Whitehaven, which coincidentally forms a large holding in Soul Patts’ portfolio. This increase appears to be the result of some positive broker coverage.

Service Stream was also in investors’ good books last week due to the government’s announcement of an additional capital allocation to the national broadband network (NBN). Since Service Stream is an almost-direct beneficiary of NBN spending, clearly investors weren’t letting this one get away.

What does this week look like for the ASX 200?

It will be very interesting to see if investors abrupt change in sentiment surrounding the big ASX banks holds up when trading resumes today. As I mentioned earlier, the big four are major components of the ASX 200, so these moves will likely set the tone for the market’s opening salvo.

In other news, there are a few major ASX blue chip shares that will be paying out dividends this week, which I’m sure will be welcomed by all eligible investors. These include bank shares CommBank and ANZ as well as Coles Group Ltd (ASX: COL) and Fortescue Metals Group Limited (ASX: FMG).

In other news, we also have the first US Presidential debate on Tuesday (US time) between President Donald Trump, and challenger and former Vice President Joe Biden. The US elections are just around the corner and are highly anticipated by investors — so we might see a market move if one of the candidates lands a rhetorical knock-out punch. And, as ever these days, I’ll be keeping a firm eye on the US markets in general for a heads up on our own ASX.

Before you go, here’s a look at how the major ASX 200 blue chips are looking as we start another week on the markets:

More reading

• 5 things to watch on the ASX 200 on Monday
• 3 of the best ASX healthcare shares to buy and hold
• Why I would buy Commonwealth Bank (ASX:CBA) and this ASX dividend share
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Sebastian Bowen owns shares of National Australia Bank Limited, Newcrest Mining Limited, Telstra Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited, Telstra Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Transurban Group, Wesfarmers Limited, and Woolworths Limited. 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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The Synlait Milk Ltd (ASX: SM1) share price will be on watch on the Monday following the release of its full year results.

How did Synlait Milk perform in FY 2020?

For the 12 months ended 31 July 2020, the dairy processor reported a 27% increase in revenue to NZ$1.3 billion.

This was driven by a 15% increase in consumer-packaged infant formula sales to 49,180 MT and a 46% lift in lactoferrin sales to 30 MT.

Margin contraction from a higher cost base led to Synlait’s earnings before interest, tax, depreciation, and amortisation (EBITDA) not increasing in line with sales. It rose 13% to NZ$171.4 million in FY 2020.

Things were worse on the bottom line, with the company’s net profit after tax falling 9% to NZ$75.2 million.

Resilient performance.

Synlait’s Chair, Graeme Milne, commented: “Synlait’s financial performance was resilient when viewed against the backdrop of COVID-19. The company remains solid and highly profitable with EBITDA growing strongly demonstrating the strength of our core infant and lactoferrin businesses.”

Mr Milne notes that its profits were down in FY 2020 due to the company investing in its future growth. He appears confident these investments will create long term value for shareholders.

He explained: “Our NPAT performance did reduce reflecting investments made in new facilities and acquisitions over the past two years to achieve our growth ambitions. We are however well positioned to grow earnings off our current asset base.”

The company’s CEO, Leon Clement, echoed this sentiment and appears positive on the future.

Mr Clement commented: “Synlait is focused on building a sustainable, diverse and recurring earnings base that comes from multiple customers, sites, markets and categories.”

“We are achieving this while balancing the needs of people, planet and profit in our decisions, and responding to changing customer demand against the backdrop of COVID-19. Our strategy to create a strong, diverse company, is more relevant than ever given the uncertain world ahead. Our team delivered a strong result in an exceptional year,” he added.

Outlook.

In light of the uncertain economic environment, at this point the company is targeting a similar or slightly improved profit result in FY 2021.

A further update will be provided at Synlait’s half year result in March 2021.

Elsewhere in the industry, this morning A2 Milk Company Ltd (ASX: A2M) warned of tough trading conditions in the daigou channel for infant formula sales. It is one of Synlait’s largest customers.

More reading

• Why the A2 Milk (ASX:A2M) share price can outperform in 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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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