Well, we’re officially in spring and the S&P/ASX 200 Index (ASX: XJO) has certainly sprung today, up 0.89% at the time of writing to 6,113.50 points. With the turn of the month and the season, I’m taking a good look at my portfolio and wondering which ASX shares I would love to add this month, at the right price of course. So here are the top 3 ASX shares I would love to buy this September (not in any particular order):

3 ASX shares I’d like buy this month

Telstra Corporation Ltd (ASX: TLS)

Telstra shares have just had a shocker of a month, falling 15% over August. The catalyst for this dive was Telstra’s FY2020 earnings report, which wasn’t exactly optimistic about how much money the company will be earning in FY2021. Even so, Telstra reaffirmed its generous 16 cents per share dividend, which on current prices offers a trailing yield of 5.48%. Investors clearly aren’t too certain that Telstra will continue to be able to fund this dividend beyond next year, but I beg to differ. Telstra has more than enough free cash flow to keep the dividend going in my view. As such, I think Telstra is a buy at these near 52-week lows we are seeing today.

2) MFF Capital Investments Ltd (ASX: MFF)

MFF is a listed investment company (LIC) that I would also love to add to my portfolio this September. MFF mostly invests in United States-listed shares that it aims to hold long term. Payments companies Mastercard Inc (NYSE: MA) and Visa Inc (NYSE: V) currently top MFF’s portfolio, but it also includes Home Depot Inc and Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A)(NYSE: BRK.B) among others. I like MFF as its managers aren’t afraid to go against the crowd. The portfolio currently holds more than 38% of its assets in cash, which should give the company plenty of ammunition if the share market drops again in the next few months. Because of this defensiveness, I’m looking to add more MFF to my portfolio this September.

3) BetaShares FTSE 100 ETF (ASX :F100)

My last share is this exchange-traded fund (ETF) from BetaShares. F100 tracks the 100 largest companies listed on the London Stock Exchange (LSE). The LSE has a similar reputation to the ASX in that British companies tend to offer large dividends. Some of the top stocks in this ETF are Unilever, AstraZeneca, BP, GlaxoSmithKline, HSBC Holdings plc (LSE: HSBA) and British American Tobacco. I like this ETF as it still looks fairly cheap to me right now. Since 23 March, F100 units are ‘only’ up around 11%, compared to the ASX 200, which is up more than 33%. Currently, this ETF is offering a trailing distribution yield of 2.6%, which I think will rise even higher in a few years’ time once the coronavirus pandemic is (hopefully) history.

More reading

• UBS picks the best and worst ASX stocks from the reporting season
• Should you buy Telstra and these beaten down ASX shares?
• The Telstra share price just hit a 52-week low: Is it time to buy?
• 2 ASX dividend growth shares I would buy right now
• Here’s why the Telstra share price fell 15% in August

Sebastian Bowen owns shares of Magellan Flagship Fund Ltd, Mastercard, Telstra Limited, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Berkshire Hathaway (B shares), Mastercard, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends HSBC Holdings and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short September 2020 $200 calls on Berkshire Hathaway (B shares). The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended Berkshire Hathaway (B shares) and Mastercard. 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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Oil Search Limited (ASX: OSH) shareholders haven’t had the best of years. The Oil Search share price has been pummelled by falling energy prices as COVID-19 ushered in a big drop in demand for oil and gas.

From its 2020 high on 15 January until the low on 23 March, the Oil Search share price crashed 76%. Although it’s come roaring back from that low, up 75%, the share price is still down 58% from its 2020 peak.

At time of writing, the share price is down 0.8% in intraday trading. A fairly muted reaction in light of the latest sabre rattling from Papua New Guinea’s prime minister.

What does Oil Search do?

Oil Search was established in Papua New Guinea in 1929 and began trading on the ASX in 1999. The company operates all of PNG’s oil fields. It owns 29% of the ExxonMobil-operated PNG LNG Project, a major exporter to Asian markets. The company also holds interests in the Elk-Antelope and P’nyang gas fields.

The company is part of the S&P/ASX 200 Index (ASX: XJO).

How is PNG’s prime minister impacting the Oil Search share price?

As a company that holds all of its oil and gas fields in PNG, Oil Search’s share price depends on a good relationship with the local government just as much as it depends on a profitable price for oil and LNG.

And in a statement to parliament yesterday, Prime Minister James Marape threw down the gauntlet to international energy and mining companies, demanding a larger share of the resources they extract from PNG.

According to Bloomberg,

Marape said that the state must take a 60% to 65% share of revenue from future projects, up from just 40% on recent petroleum ventures. His government also wants to see the financial benefits flow through to the state coffers quicker, and for developers to commit to using local labor, goods and services in their operations wherever possible…

PNG “has been unfairly held to ransom” by Exxon and its partner Oil Search Ltd., Marape said.

Exxon stated that negotiations were ongoing and it was hopeful for a positive outcome, while Oil Search has not yet commented on the latest developments.

Although I believe the Oil Search share price represents good long-term value at its current price of $3.22 per share, the situation in PNG is a good reminder for investors to take sovereign risk into account when investing in shares operating internationally.

More reading

• Why the Oil Search share price is a great opportunity for long-term investors
• Where to now for the ASX energy shares?
• Oil Search share price rises after interim half year result

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

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A long-term study has found family-owned listed companies have thoroughly outperformed non-family businesses.

Credit Suisse Global Research on Thursday revealed companies in its international Family 1000 database outperformed the rest of the market over 14 years by an annual average of 370 basis points.

Family-owned businesses in Asia returned 500 more basis points per year than their rivals, while in Europe it was 470. The gap was far narrower in North America, where it was 260 basis points per annum.

Six Australian companies are in the Family 1000: Fortescue Metals Group Limited (ASX: FMG), Crown Resorts Ltd (ASX: CWN), TPG Telecom Ltd (ASX: TPG), Flight Centre Travel Group Ltd (ASX: FLT), Seven Group Holdings Ltd (ASX: SVW) and WiseTech Global Ltd (ASX: WTC).

Those businesses have collectively returned an “exceptional” 23% per annum since 2006, according to Credit Suisse.

Family businesses also shined through COVID-19

The “Credit Suisse Family 1000: Post the Pandemic” report showed that even through the COVID-19 downturn, family-owned businesses have fared better.

“In previous work, we highlighted that family-owned companies tend to have above-average defensive characteristics that allow them to perform well, particularly during periods of market stress,” the report stated.

“Return data for the first six months of this year supports that view, given an overall year-to-date outperformance of around 300 basis points relative to non-family-owned companies.”

Why do family companies do so well?

There is a theory that family-owned and run businesses take a longer-term investment view than listed companies owned and run by “independents”.

“Family-owned companies have lower gearing ratios than non-family-owned companies, implying that they fund their operations more through internal funds rather than debt,” stated the Credit Suisse report.

“We also observe that family-owned companies tend to focus more on research and development, which is arguably a long-term indicator.”

Over the 14 years of the study, revenue growth from the Family 1000 companies was more than 200 basis points greater than other businesses.

Family companies are more profitable as well.

“Average cash flow returns are around 200 basis points higher than those generated by non-family-owned companies. These superior returns are observed across all regions globally,” read the report.

A more recent pattern is that family-owned businesses rate better on environmental, social and governance (ESG) issues than its competitors.

But not on all three.

“This overall better performance is mostly led by better environmental and social scores as family-owned companies appear to lag their non-family-owned peers in terms of governance,” said the report.

“What is interesting in our view is that relative performance appears to have been a more recent phenomenon and has been strengthening over the past four years.”

What family businesses fail on

While family-owned companies have outperformed over the past 14 years, there are weaknesses that could leave them exposed in the future.

One area Credit Suisse identified was diversity and social justice.

“Our survey shows that, compared to non-family-owned companies, family-owned companies on average have less-diverse management boards, fewer of them have support groups for the lesbian, gay, bisexual and trans (LGBT) and black, Asian and minority ethnic (BAME) communities, or have made public statements concerning respect for human rights or the related United Nation principles,” stated the report.

“The growing relevance of ESG investing is likely to put increased pressure on corporates to address these issues.”

In order for a publicly listed company to make Credit Suisse’s Family 1000 database, it must meet one or both of these conditions:

• The founder or her/his family owns at least 20% of shares
• The founder or her/his family controls at least 20% of voting rights

There are now 1,061 companies in the database, with almost half located in Asia.

More reading

• How household savings could boost these ASX share prices
• ASX 200 up 1%: Big four banks charge higher, SKYCITY impresses, Xero tumbles
• Why Bubs, Perseus, WiseTech, & Xero shares are dropping lower
• WiseTech Global share price lower after CEO sells $10m of shares and plans even more sales
• Strike Resources share price wanes despite moving closer to an off-take agreement

Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia has recommended Crown Resorts Limited and Flight Centre Travel 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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It was another great day for global share markets yesterday.

Here in Australia the S&P/ASX 200 Index (ASX: XJO) closed 1.8% higher. And it’s off to another strong start today, up 1.0% in late morning trade.

But it wasn’t just ASX share prices running higher. Every major exchange in the US and Europe finished in positive territory, as did the major Asian exchanges.

At the risk of sounding like a broken record, the 1.0% gain on the Nasdaq Composite Index (NASDAQ: .IXIC) brings the tech-heavy index to another new record high. It also brings its 1-year gains to a whopping 53.1%.

The ASX 200 is still 14.9% down from its February 20 highs. And with the latest quarterly economic figures in from the Australian Bureau of Statistics (ABS) you might think that record is out of reach for the foreseeable future.

But there’s a silver lining in the data that could provide a big tailwind for more ASX share price gains.

Saving like it’s 1974

I won’t delve into all the details of the ABS quarterly report, which covers the period from March through June. (You can find that here.)

The headline-making news is the big hit the coronavirus pandemic delivered to the Aussie economy. Over the quarter, GDP fell 7.6% in seasonally adjusted current price measures.

Though that’s certainly bad news, it was widely expected. What was unexpected was the huge surge in household savings.

Yes, savings had been forecast to rise as the virus restricted the amount of money people are spending on travel, leisure and dining out. This saw household spending fall $35.2 billion in the quarter. But the extent of the savings rise – driven in part by government JobKeeper and boosted JobSeeker payments – surprised most analysts.

According to the ABS, net household savings reached $59.5 billion in the June quarter, an increase of $42.0 billion. That saw household saving grow to 19.8%, up from 6.0%. You have to go back to 1974 to find more frugal Aussie households. And this savings rate doesn’t include the money people have withdrawn via the early superannuation access scheme. If you include that, the savings rate works out to 24.8%.

This silver lining in the ABS report – coupled with continuing stimulus from the Reserve Bank of Australia (RNA) and the government – should spell good news for ASX share prices.

The spending trigger that could boost select ASX share prices

With Aussie households cashed up and itching to travel, eat out and spend money on the leisure activities they’ve been denied, an effective vaccine or other means to control the coronavirus is likely to see a surge in spending.

That could well see a shift in the big share price gains witnessed in technology shares and online retail favourites like Kogan.com Ltd (ASX: KGN), whose share price is up 190% year-to-date.

While the well-placed tech shares should continue to do well, when people re-emerge from their COVID-cocoons ,it’s some of today’s still depressed shares that could enjoy the biggest boost.

Yet, as L1 Capital co-founder Mark Landau points out, most investors aren’t giving enough weight to the fact that an effective vaccine may well be on the near to mid-term horizon. And the impact this will have on today’s still depressed energy and travel shares.

According to Landau (as quoted by the Australian Financial Review):

We think that a lot of the COVID hit stocks are still not reflecting any improvement in the likelihood of a vaccine and we think that that represents by far the best risk-reward that we can see in the market at the moment

So whether it’s travel stocks or casinos or shopping centres or oil stocks – they all are clear COVID losers. And many of them are trading 50 per cent lower than where they were trading back in January, so the nice thing about maths is that means 100 per cent upside…

We’ve been consistently saying that we think the likelihood of a safe and effective vaccine is much better than I guess the consensus opinion.

As one example, retail property giant Scentre Group‘s (ASX: SCG) share price is still down 41% in 2020.

And then there’s Crown Resorts Ltd (ASX: CWN), one of Australia’s largest entertainment groups, which owns and operates hotels, casinos and restaurants. Year-to-date Crown’s share price is still down 23%.

As for Qantas Airways Limited (ASX: QAN), its share price is down more than 44% since 2 January.

Now there’s no proven vaccine out there yet. But once there is, it’s shares like these that have the potential to see their share price soar as cashed up households go out and spend big.

More reading

• The one type of ASX company that outperforms all others
• ASX 200 up 1%: Big four banks charge higher, SKYCITY impresses, Xero tumbles
• Why a recession shouldn’t matter for the ASX share market
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 rises 1.8%, Afterpay had a volatile day

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Crown Resorts Limited and Kogan.com 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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I recently decided to buy more of ASX share WAM Microcap Limited (ASX: WMI) for my portfolio.

A quick overview of WAM Microcap

WAM Microcap is a listed investment company (LIC). The job of a LIC is to invest in other ASX shares with market capitalisations under $300 million at the time of acquisition.

The LIC is run by the investment team at Wilson Asset Management (WAM), a high-performing investment outfit.

What has happened recently?

WAM Microcap has had a very strong recovery from the COVID-19 crash.

The WAM Microcap portfolio returned 23.6% over the three months to 31 July 2020 before expenses, fees and taxes. That gross return was 13.7% better than the S&P/ASX Small Ordinaries Accumulation Index’s return of 9.9%.

In July 2020 alone WAM Microcap’s gross portfolio return was 6.7%, which was 5.3% better than its benchmark.

The LIC recently reported its FY20 result. Over the 2020 financial year, WAM Microcap’s portfolio outperformed the benchmark by 17.5% with an increase of 11.8%.

In that result the ASX share’s board decided to declare a fully franked final dividend of 3 cents per share, bringing the full year ordinary dividend to 6 cents per share – an increase of 33%.

WAM Microcap also declared a fully franked special dividend of 3 cents per share due to the strong performance of the LIC since inception. Indeed, at 31 July 2020 WAM Microcap’s gross portfolio return since June 2017 has been an average of 17.8% per annum.

Why I decided to buy shares

WAM Microcap recently decided to do a capital raising. Aside from scale benefits, a major benefit from the capital raising is that it will gain additional access and exposure to market opportunities such as capital raisings and pre-IPO investments.

I took part in that capital raising. It was priced at $1.379 per new share, which was the net tangible assets (NTA) value at the end of July 2020. A clear immediate benefit by taking part was the discount between the raising price and the traded share price. Using the current share price of $1.46, I’m already up about 6% if I were to sell today.

But I don’t have plans to sell any time soon. Indeed, I want to hold WAM Microcap shares for at least the next decade.

I’m not a big fan of ASX blue chip shares like Westpac Banking Corp (ASX: WBC) or Telstra Corporation Ltd (ASX: TLS) because I don’t think they offer much long-term growth potential.

However, smaller ASX shares have much more growth potential. WAM Microcap has proven to be one of the best investment teams at identifying those opportunities over the past few years. It is (or was) invested in high growth ASX shares like City Chic Collective Ltd (ASX: CCX), Redbubble Ltd (ASX: RBL) and Temple & Webster Group Ltd (ASX: TPW).

WAM Microcap offers investors high returns but it’s also diversified. At 30 June 2020 it was invested in 66 different companies. During FY20 it was invested in 221 individual companies.

Dividends

I like that WAM Microcap is committed to paying a high level of dividends to shareholders each year. It’s nice to benefit from the strong returns with cash payments. Those dividends can be used to buy more WAM Microcap shares, buy other (ASX) shares, sit in cash for a while or just paying for life expenses.

At the current WAM Microcap share price it offers an (ordinary) grossed-up dividend yield of 5.8%. That’s not as high as it was a few months ago, but it’s still solid in this era where the RBA official rate is just 0.25%.

Is the ASX share a buy today?

We’ll have to see what the WAM Microcap’s NTA per share at the end of August 2020 was, but I’d guess it’s now trading at a premium to the NTA. I only like buying LICs at their NTA, or preferably at a discount. WAM Microcap fell heavily during the COVID-19 crash because small caps usually fall more, so the next large market drop could be the best time to buy more of this ASX share.

Whilst I’ve bought enough WAM Microcap shares for my portfolio for now, if I didn’t own any I’d be happy to buy a small parcel today and buy more on weakness.

More reading

• 3 ASX shares I’d buy if the share market crashes again
• Are ASX banks or miners buys for dividends?
• 5 top ASX dividend shares you should never sell
• 3 must-have ASX income shares for your portfolio
• 2 easy ASX shares to buy for small cap exposure

Tristan Harrison owns shares of WAM MICRO FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended Temple & Webster Group 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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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. At the time of writing the benchmark index is up 1% to 6,121.7 points.

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

The IOOF Holdings Limited (ASX: IFL) share price is up 2% to $3.65. This appears to have been driven by a broker note out of Ord Minnett. Its analysts have upgraded the financial services company’s shares to a buy rating with a $4.15 price target. Ord Minnett notes that IOOF will become the largest superannuation company following the acquisition of MLC Wealth.

The SKYCITY Entertainment Group Limited (ASX: SKC) share price is up 7.5% to $2.48. Investors have been buying the casino and resorts operator’s shares following its FY 2020 results. Included with the results was a surprisingly positive trading update. SKYCITY revealed that local gaming in Auckland and Hamilton was ahead of pre-COVID levels. Furthermore, local gaming in Adelaide is now consistent with pre-COVID 19 levels. In light of this, it expects to deliver profit growth in FY 2021.

The Starpharma Holdings Limited (ASX: SPL) share price has stormed 5% to $1.71. This morning the dendrimer products developer revealed that it has been awarded $1 million in funding from the Federal Government’s Medical Research Future Fund to develop a nasal spray for the treatment of COVID-19. The nasal spray will utilise its proprietary dendrimer, SPL7013.

The Telix Pharmaceuticals Ltd (ASX: TLX) share price stormed 6.5% higher to $1.82. This morning the clinical-stage biopharmaceutical company announced that has entered into a strategic collaboration agreement with Palo Alto-based Varian Medical Systems. The agreement will see the two parties evaluate the use of advanced prostate cancer imaging within Varian’s radiation treatment planning platform.

More reading

• Starpharma share price jumps 5% on funding for COVID-19 nasal spray
• ASX 200 up 1%: Big four banks charge higher, SKYCITY impresses, Xero tumbles
• SKYCITY share price on watch after FY 2020 result and positive trading update
• ASX 200 jumps 1.6%: Afterpay tumbles, IOOF crashes, CBA pushes higher
• Why Afterpay, IOOF, Redbubble, & Zip shares are dropping lower

James Mickleboro owns shares of TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. and Starpharma Holdings 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 CV Check Ltd (ASX: CV1) share price stormed more than 35% higher in early trade today after the company released an operational update.  

Details on CV Check’s update

In the operational update, CV Check reported the company had been able to maintain solid order flow in July and August. CV Check said new customer wins, especially in the buy now, pay later (BNPL) sector, had allowed the company to offset impacts of the COVID-19 pandemic.

The company’s management said new client wins in the BNPL sector had helped CV Check regain momentum. In addition, CV Check also noted a strong rise in revenue for July and August from integrations with other HR platforms.

The company said its notable clients from the BNPL sector included Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P) and Openpay Group Ltd (ASX: OPY).

What does CV Check do?

CV Check offers online background screening and verification services. The company’s multi-check technology platform provides check products to employers, industry associations and individuals.

Late last month, CV Check released its annual report for FY20. The company reported a revenue of $12.4 million for the year, with a record $6.6 million generated in the first half of FY20. CV Check assured investors that new client wins through the final quarter of FY20 had led to a recovery in the company’s revenue.

For FY21, CV Check said the company was focused on driving organic growth from higher repeat business customers. Key macro drivers in the world economy had also been identified that could drive business. These factors include the shift to a digitally delivered service-based economy. CV Check said its $3.1 million capital raise in August 2019 would help the company accelerate business growth.  

The CV Check share price is currently trading more than 20% higher at the time of writing. Shares in CV Check were up more than 35% earlier today after hitting an intra-day high of 13 cents.

More reading

• Starpharma share price jumps 5% on funding for COVID-19 nasal spray
• ASX 200 up 1%: Big four banks charge higher, SKYCITY impresses, Xero tumbles
• Why Bubs, Perseus, WiseTech, & Xero shares are dropping lower
• 3 ASX growth shares to buy with $3,000
• Why the Bubs share price crashed 10% lower today

Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Starpharma Holdings Limited (ASX: SPL) share price was up 5.52% at the time of writing to $1.72. This came after the company announced a funding award to develop a COVID-19 nasal spray. 

What was in the announcement?

Starphama said it had been awarded $1 million in funding from the Federal Government’s Medical Research Future Fund to develop a nasal spray for the treatment of COVID-19. The nasal spray would utilise its proprietary dendrimer, SPL7013.

The company said its patented SPL7013 nasal spray had the potential to prevent both acquisition and transmission of SARS-CoV-2. In addition, its broad spectrum antiviral activity could also play a role for other respiratory viruses and preparedness for future pandemics. SARS-CoV-2 is the virus that causes COVID-19.

The product could be used as an additional line of defence in combination with personal protective equipment. It would have applications for the general public including frontline workers such as doctors and nurses along with those exposed to crowded and high risk environments including public transport, airlines and aged care.

Starpharma said that since the SPL7013 development program started in April, the nasal spray has been reformulated into several formulations and a manufacturer identified. In addition, pilot manufacturing has been undertaken and work has started on compiling regulatory documentation for submission. Additionally, the company is in confidential commercial discussions with interested pharmaceutical companies in a number of geographic markets.

Starpharma CEO Dr Jackie Fairley said the funding award to develop Starphama’s program recognised “its near term potential and the global relevance of the SPL7013 COVID-19 nasal spray”.

About the Starpharma share price

Starpharma is a biotechnology company that develops and licenses treatments for various common health problems. It has agreements with a number of pharmaceutical giants and has been listed on the ASX since 2000.

The Starpharma share price is up 177.4% since its 52-week low of 62 cents. It has returned 40.98% since the beginning of the year. The Starpharma share price is up 49.57% since this time last year. 

More reading

• Why Lendlease, Redbubble, SeaLink, & Starpharma shares are pushing higher
• Starpharma share price rockets to record high on DEP remdesivir COVID-19 news
• Starpharma share price rockets to 52-week high on full year update
• Starpharma share price bolts 14% on COVID-19 nasal spray
• The Starpharma share price jumps on new partnership deal

Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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 Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record its second consecutive day of gains. The benchmark index is currently up 1% to 6,121.9 points.

Here’s what is happening on the market today:

Big four banks charge higher.

The big four banks are all charging higher today and underpinning the ASX 200’s positive performance. At lunch, the best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price with a gain of over 2%. This follows news that Australia recorded a trade surplus of $4.6 billion in July, well ahead of expectations.

SKYCITY impresses.

The SKYCITY Entertainment Group Limited (ASX: SKC) share price is storming higher today after the release of its FY 2020 results and a surprisingly positive trading update. In respect to the latter, SKYCITY revealed that local gaming in Auckland and Hamilton was ahead of pre-COVID levels. Furthermore, local gaming in Adelaide is now consistent with pre-COVID 19 levels. In light of this, it expects profit growth in FY 2021.

Insider selling galore.

The founders of both WiseTech Global Ltd (ASX: WTC) and Xero Limited (ASX: XRO) have been selling a considerable number of shares. In respect to WiseTech, CEO Richard White offloaded $10 million shares over the last few trading days. As for Xero, the business and accounting software provider’s founder, Rod Drury, is understood to have offloaded almost $200 million worth of shares this week. Both WiseTech and Xero are trading lower at lunch.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Thursday has been the SKYCITY share price following its positive update with its full year results. The casino and resorts operator’s shares are up 8%. The worst performer has been the Spark Infrastructure Group (ASX: SKI) share price with a 5% decline. This morning the utility infrastructure company’s shares traded ex-dividend for its 7 cents per share interim dividend.

More reading

• Why Bubs, Perseus, WiseTech, & Xero shares are dropping lower
• WiseTech Global share price lower after CEO sells $10m of shares and plans even more sales
• SKYCITY share price on watch after FY 2020 result and positive trading update
• Why a recession shouldn’t matter for the ASX share market
• 5 things to watch on the ASX 200 on Thursday

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 WiseTech Global and Xero. The Motley Fool Australia has recommended Sky City Entertainment Group 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 ASX 200 up 1%: Big four banks charge higher, SKYCITY impresses, Xero tumbles appeared first on Motley Fool Australia.

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In late morning trade the S&P/ASX 200 Index (ASX: XJO has followed the lead of U.S. markets and is charging higher. At the time of writing the benchmark index is up 0.5% to 6,096.2 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

The Bubs Australia Ltd (ASX: BUB) share price has dropped 5.5% to 86.5 cents. Investors have been selling the infant formula company’s shares after it successfully completed its institutional placement. Bubs has raised $28.3 million (before costs) at a 12.5% discount of $0.80 per share. These funds are being used largely to support its growth plans in the China market. This includes buying an interest in a manufacturing facility in the country.

The Perseus Mining Limited (ASX: PRU) share price has tumbled 4.5% to $1.39. The catalyst for this decline appears to have been a pullback in the spot gold price overnight. The price of the precious metal dropped lower amid a strengthening U.S. dollar and optimism over the global economic recovery. At the time of writing, the S&P/ASX All Ordinaries Gold index is down 1.1%.

The WiseTech Global Ltd (ASX: WTC) share price has fallen 2% to $28.79. Investors have been selling the logistics solutions company’s shares after it revealed that its CEO and Founder, Richard White, was selling down his stake. Mr White has offloaded $10 million worth of shares in the last few days and plans to keep selling through to 31 December. He remains the company’s largest shareholders by some distance.

The Xero Limited (ASX: XRO) share price has dropped 3.5% lower to $99.25. This also appears to have been driven by insider selling. Although the business and accounting software company has yet to confirm it, there are reports that its founder, Rod Drury, has offloaded almost $200 million worth of shares. According to the AFR, the shares were believed to have been offered at a 3.9% discount of $99.00 per share.

More reading

• Why the Bubs share price crashed 10% lower today
• WiseTech Global share price lower after CEO sells $10m of shares and plans even more sales
• 5 things to watch on the ASX 200 on Thursday
• Some ASX winners and losers from a high Aussie dollar
• Xero share price higher after chairman buys $400k worth of shares

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

The post Why Bubs, Perseus, WiseTech, & Xero shares are dropping lower appeared first on Motley Fool Australia.

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