Tag: Motley Fool Australia

The Openpay Group Ltd (ASX: OPY) share price jumped as much as 29.07% in morning trade today after the company announced a new funding facility and record results for the month of May.

Openpay is a small-cap buy now, pay later (BNPL) provider that made its debut on the ASX in December 2019. If offers payment plans up to $20,000 over 2 to 24 month periods.

Where rival Afterpay Ltd (ASX: APT) focuses on the retail sector, Openpay targets 3 verticals that historically lacked BNPL solutions – automotive, healthcare and home improvement. Leading merchants offering Openpay include Bupa, Bunnings Warehouse, Spotlight, Smiggle and Repco.

New funding facility

This morning, Openpay announced it has secured a £25 million debt funding facility with Global Growth Capital. From this, Openpay will immediately have £10 million available to support its fast-growing UK business. The UK business is currently operating online in the retail vertical and recently achieved a major milestone after launching with JD Sports in mid-May.

This new UK funding facility is on top of the company’s existing $75 million debt facilities, of which $45 million remains undrawn.

Commenting on the new funding facility, CEO Michael Eidel said:

“Openpay UK is emerging as a significant contributor to our Total Transaction Value. This funding facility with Global Growth Capital adds strength to our strong balance sheet and provides us with ample funding to support the delivery of our current growth objectives in the UK.”

Record month of May

Openpay also provided a trading update this morning following its Q3 FY20 results released in April. The company declared May 2020 as its strongest month in history, with key highlights including:

• Active plans totalling 739,000, up 220% from 231,000 in May 2019;
• 293,000 active customers, up 131% from from 127,000 in May 2019;
• 2,096 active merchants, up 50% from 1,396 in May 2019; and
• Total transaction value (TTV) of $170 million year to date, up 95% from $87 million in May FY19 year to date.

Growth in active plans, active customers and TTV were all record results. This performance was primarily driven by ‘OpenMay’, a month of special promotions with merchant partners across all industry verticals.

Importantly, the company noted its underlying loan book credit quality remains strong, while the number of weekly COVID-19 hardship requests continues to decline. Additionally, the incidence of fraud is also continuing its downward trend as a result of recent technology upgrades to Openpay’s platform.

At the time of writing, the Openpay share price is sitting 15.5% higher for the day at $1.49, taking its current year-to-date gains to 19.2%.

More reading

• This ASX fintech share is up 489% since March
• Why Nearmap’s share price surged by 50% in May
• Real wealth from 3 roaring mid caps in May
• Afterpay share price rockets 50% in May, is it in the buy zone?
• Why these 3 ASX 200 blue chips could be set for growth this week

Motley Fool contributor Cathryn Goh owns shares of AFTERPAY T 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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Southern Cross Media Group Ltd (ASX: SXL) shares rocketed over 80% higher in May but is the Aussie media group in the buy zone with its current share price?

Why the Southern Cross Media share price surged in May

Southern Cross completed an equity raising and provided a trading update on 6 May. The Aussie media group launched a fully underwritten equity raising which included an institutional placement and a 1.75-for-1 pro-rata, non-renounceable entitlement offer. This raised $169 million at 9 cents per share for Southern Cross and helped to strengthen the balance sheet.

The trading update provided some good news with the group achieving positive earnings before interest, tax, depreciation and amortisation (EBITDA) in April. Significant operating cost reductions helped to offset the decline in revenues.

The Southern Cross Media share price was volatile in May and regularly featured in the week’s biggest movers. However, the Aussie media group moved the most last week when it rocketed over 70% higher. Last week’s share price gains were so strong that the media group was even sent an ASX Price Query. Southern Cross advised the securities exchange operator that it could not explain why its share price had risen so much.

Is the ASX media group in the buy zone?

Southern Cross Media shares are now trading at $0.23 per share. That gives the Aussie media group a $613 million market capitalisation but it was worth 4 times that much back in July 2019.

This says to me that COVID-19 hasn’t been the only factor weighing on the group’s share price. Regional television and radio has been doing it tough for a while but the pandemic certainly hasn’t helped with revenues.

I still think the Aussie media group’s shares are a speculative buy right now. There’s a lot of volatility in the share price and still more uncertainty in the months ahead.

Foolish takeaway

The Southern Cross Media Group share price could be cheap at $0.23, but I won’t be buying in just yet.

More reading

• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000
• These were the best performing ASX 200 shares in May
• These were the best performing ASX 200 shares last week
• 3 ASX 200 shares to buy for a Goldilocks-style bounce back
• ASX 200 up 0.1%: Big four banks rocket, Afterpay sinks lower

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.

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a very positive note. At the time of writing the benchmark index is up 0.75% to 5,798.7 points.

Four shares that have not been able to follow the market higher today are listed below. Here’s why they are dropping lower:

The A2 Milk Company Ltd (ASX: A2M) share price is down 2% to $17.34. This decline appears to have been caused by profit taking after some very strong gains in 2020. Even after today’s decline, a2 Milk Company’s shares are up almost 24% since the start of the year. Investors have been buying the company’s shares after it reported strong sales growth during the pandemic.

The Freedom Foods Group Ltd (ASX: FNP) share price is down almost 5% to $3.54. The diversified food company’s shares have come under pressure since the release of a trading update at the end of last week which revealed weaker than expected sales. In addition to this, the company warned that its margins had been negatively impacted by an unfavourable sales mix.

The Scentre Group (ASX: SCG) share price has fallen 3.5% to $2.17. A number of real estate shares have come under pressure today. This appears to have been caused by an announcement by Vicinity Centres (ASX: VCX). The shopping centre operator is raising $1.4 billion to help it navigate the pandemic. It also warned that preliminary asset revaluations indicate an aggregate reduction in asset value of up to $2.1 billion.

The TPG Telecom Ltd (ASX: TPM) share price is down over 3% to $8.22. This appears to be down to profit taking after a strong share price gain over the last month. Investors have been buying TPG Telecom’s shares amid optimism that its merger with Vodafone Australia will be a success. It also plans to rewards shareholders with a special dividend ahead of the merger.

More reading

• 5 ASX 200 winners and 3 losers from last week
• Will the A2 Milk share price hit $20 in 2020?
• How to be an ASX 200 share millionaire in 15 years
• How you can get very rich with ASX 200 shares
• 10 top ASX growth shares to buy in June for strong returns

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Freedom Foods Group Limited and Scentre 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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After a poor start to the day, the S&P/ASX 200 Index (ASX: XJO) has bounced back and is pushing higher at lunch. At the time of writing the benchmark index is up 0.6% to 5,790.4points.

Here’s what is happening on the market today:

Big four banks push higher.

The big four banks are pushing higher on Monday and helping drive the ASX 200 higher. The best performer in the group has been the National Australia Bank Ltd. (ASX: NAB) share price with a 1.6% gain. This latest gain means that NAB’s shares are now up 37% from their 52-week low.

Qantas ACCC investigation.

The Qantas Airways Limited (ASX: QAN) share price is pushing higher today despite the ACCC providing an update on its investigation into the airline’s acquisition of a 19.9% stake in Alliance Aviation Services Ltd (ASX: AQZ). The ACCC’s investigation will now focus on the competitive dynamics between Qantas and Alliance. It will examine whether the stake affects Alliance’s ability to raise funds, consider takeovers, or participate in commercial ventures.

Pro Medicus update.

The Pro Medicus Limited (ASX: PME) share price is on the rise on Monday after it announced a major contract win with Northwestern Memorial HealthCare. According to the release, Pro Medicus has signed a five-year, A$22 million deal with the Chicago-based healthcare company for its Visage 7 technology. Management also revealed that its business has not been impacted materially by the pandemic.

Best and worst ASX 200 performers.

The Adbri Ltd (ASX: ABC) share price is the best performer on the ASX 200 on Monday with an 8.5% gain. This is despite there being no news out of Adbri, which was formerly known as Adelaide Brighton. The worst performer on the index has been the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price with a 5% decline. This appears to have been driven by valuation concerns.

More reading

• 3 things that could impact ASX 200 shares this June
• Afterpay share price rockets 50% in May, is it in the buy zone?
• 3 best stocks for ASX 200 investors in retirement to buy now
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why this exciting ASX 200 tech share is pushing higher on Monday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus 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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Most of the attention and headlines are focused on the large blue chips. In my experience, real wealth, the wealth that lasts a lifetime, comes from well-selected mid-cap shares. Shares with a lot of growth still in them. Investors in Amazon.com, Inc. (NASDAQ: AMZN) made more if they bought in 2012 than if they bought in 2018. 

This is, of course, fraught with danger. Mid-caps are inherently more volatile. They rise and fall quickly. The dynamics of a growth share also make them very hard to value.

Real wealth builders

The fintech sector has come out of nowhere with companies like Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) dominating the sector. Nevertheless, there is a collection of 4 roaring mid-caps that have also exploded into the scene over the past 4 years.

Of these, I like Zip Co Ltd (ASX: Z1P). The Zip Co share price grew by 69.9% over May alone. The company has a market cap of $1.46 billion. This makes it a little more than 8 times the size of its buy-now-pay-later rival, Afterpay. Like most growth shares, Zip Co has negative earnings. But it has an average annual sales growth of 71.6%. In my view, this company clearly has a long way to grow and has a deeper consumer credit offering than others in the sector. 

I think Kogan.com Ltd (ASX: KGN) is another of the real wealth-building shares on the ASX today. In the few years since its initial public offering, the company has delivered some really outstanding results. In May the Kogan share price rose by 44.34%.

The company’s share price is currently trading at a price to earnings ratio (P/E) of 57.91. This is way above its P/E 3-year average. Still, I think the market has got it right. Kogan is a growth share. It is founder-led and I believe it will flourish should Amazon ever really ramp up in Australia. 

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has leapt 21% during May. I think this is another great company for building real wealth.  Reliance manufactures and sells fittings and technological solutions in the plumbing space. It has brands and branches in the UK, the USA and Australia. This provides access to the mighty US residential housing market. Interestingly, over the past 4 years since its initial public offering, the company has achieved an average 46.5% growth in annual sales. 

More reading

• Afterpay share price rockets 50% in May, is it in the buy zone?
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why these ASX retail shares surged over 25% in the past 2 weeks
• 5 ASX 200 winners and 3 losers from last week
• ASX investors brace to ride the next wave of “irrational exuberance”

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Reliance Worldwide Limited and ZIPCOLTD FPO and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended Amazon and Reliance Worldwide 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 S&P/ASX 200 Index (ASX: XJO) had an amazing month in May, rising more than 9% for the month. So much for ‘sell in May and go away’.

But as we start a new month and a new season, I think it’s still a time to be very cautious as we climb ever further from the lows we saw ASX 200 shares hit in March.

So here are 3 things that I think we should all look out for this June on the share market.

1) The spread of the coronavirus

Of course, this is the primary concern for all investors, as well as all Australians. The share market has been rallying in recent weeks mostly due to the fact that economic restrictions are being lifted in this country as a result of our collective effort to keep the number of coronavirus cases at a minimum.

We have seen just this week that (according to reporting from the Sydney Morning Herald) South Korea has had to re-tighten restrictions after an uptick in coronavirus cases. If this were to occur in Australia (fingers crossed it doesn’t come to this), it would be bad news for ASX shares.

2) Government assistance

As Reserve Bank of Australia governor Philip Lowe pointed out last week, the damage that the coronavirus has done to our economy hasn’t been as nasty as we all first feared.

Despite this, Dr Lowe also made comments suggesting that government assistance such as the JobKeeper program might have to be expended in order to further insulate the economy. If the government chooses not to go down this path, I think it would be detrimental for the whole economy, and by extension the share market. As such, I think it’s well worth keeping an eye on this space in June.

3) The almighty USA

We don’t like to admit it here in Australia, but the direction of most share markets around the world (including the ASX) is really determined by what’s happening over in the good ol’ United States of America. As the old saying goes, if America sneezes, the rest of the world catches a cold.

Right now, the US government is pumping an extraordinary level of monetary stimulus into the US share markets, which is partly to thank for their (and our) bountiful 2 months of gains since March.

But if things were to go south Stateside, I fear the effects would spill over to our own ASX. Thus, the US is definitely worth watching as we journey into June.

More reading

• ASX 200 up 0.6%: NAB charges higher, ACCC investigates Qantas acquisition
• Afterpay share price rockets 50% in May, is it in the buy zone?
• 3 best stocks for ASX 200 investors in retirement to buy now
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why the price of these ASX travel shares soared over 30% since mid-May

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

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The OneVue Holdings Ltd (ASX: OVH) share price is flying higher this morning, up by as much as 60.42% on the back of a takeover deal by Iress Ltd (ASX: IRE).

OneVue is a provider of superannuation, funds management and investment solutions, supporting financial services by providing technology and service solutions to its clients. It competes with larger ASX players Netwealth Group Ltd (ASX: NWL) and Praemium Ltd (ASX: PSS) in the independent specialist platform space.

Why the OneVue share price is skyrocketing

This morning, OneVue announced it has entered into a binding scheme implementation agreement with Iress at 40 cents cash per share. This represents a 66.7% premium to OneVue’s last closing price of 24 cents on Thursday.

The agreement remains subject to certain conditions, including an independent expert concluding that the scheme is in the best interest of OneVue shareholders, an ACCC statement that it does not oppose the scheme, and approval by the court.

The OneVue board unanimously recommends that shareholders vote in favour of the scheme if these conditions are satisfied.

Subject to ASIC registration and court approval, the scheme booklet is expected to be distributed to OneVue shareholders in early August 2020. Following this, shareholders will meet to vote on the scheme in early September 2020.

Commenting on the takeover, OneVue managing director Connie Mckeage said:

“We are pleased to have entered into an agreement with Iress to acquire OneVue. The offer represents a significant premium to our current share price and a full cash offer provides compelling certainty for our shareholders. Iress is a company we have significant respect for and we know they are committed to delivering high levels of service to our clients and are looking forward to working more closely alongside our clients and partners.”

Connie Mckeage will play an important role during the transition period and will consult Iress on growth, strategy, and clients after completion.

Why Iress is acquiring OneVue

Explaining the strategic rationale behind the acquisition, Iress chief executive Andrew Walsh said:

“The combination of OneVue’s strength and position in administration of managed funds, superannuation, and investments, with Iress’ strength in software and data will drive innovation through technology. This includes the development of software and services that brings advice and investments closer together, resulting in greater efficiency and productivity for professional advisers and businesses in Australia.”

Iress also announced an equity raising this morning to strengthen its balance sheet and partly fund the $107 million OneVue acquisition.

This will consist of a fully underwritten placement of $150 million to institutional and sophisticated investors, as well as a non-underwritten share purchase plan to raise approximately $20 million. The placement will be conducted at $10.42 per share, representing a 7% discount to Iress’ last closing price of $11.21 on Friday.

More reading

• In a post-COVID world, could Australia be the next superpower?

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The Afterpay Ltd (ASX: APT) share price has been a hot commodity in 2020. In fact, shares in the buy-now-pay-later leader surged 51.96% last month as investors scrambled to buy in while the S&P/ASX 200 Index (ASX: XJO) jumped 4.22% higher.

Why did the Afterpay share price surge 50% higher in May?

The company announced it reached 5 million active customers in the USA during May. Afterpay now has nearly 9 million customers in the US with a 30-40% increase in the weekly run rate from January and February. 

More than 15,000 brands now offer, or are in the process of offering, Afterpay to their customers. Afterpay also reported 15 million app and site visits in April 2020 which was good news for shareholders and the company’s share price.

The positive update was just one factor pushing the group’s shares higher. Chinese internet giant Tencent Holdings purchased a 5% stake in the Aussie company for $300 million. This could provide an opening to the lucrative Chinese market for Afterpay in the years ahead.

These were just a couple of the catalysts pushing Afterpay’s value past $12 billion. I also think momentum was a huge contributing factor following on from the strong surge its share price enjoyed in April 2020.

This momentum helped push the Afterpay share price to a new all-time high of $50.01 in May before it closed the month at $47.41 per share. If the strong growth continues in 2020, I can see Afterpay climbing inside the ASX 50 before the year is out.

Should you buy into Afterpay?

It’s hard to bet against an ASX 200 share that is up 435% since 23 March. However, the Afterpay share price is hot property right now and I think it could be dislocated from fundamentals.

This means I see Afterpay as a speculative buy. It could provide great growth potential and be a strong share to buy in 2020. However, there is still competition and regulatory risk that threaten Afterpay’s potential growth.

More reading

• 3 best stocks for ASX 200 investors in retirement to buy now
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why the price of these ASX travel shares soared over 30% since mid-May
• 3 top ASX dividend shares to buy now
• 3 ASX 200 shares to watch this week

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of 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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S&P/ASX 200 Index (ASX: XJO) investors in retirement will likely need dividend income to live off. Along with this, a priority should be protecting capital and de-risking your portfolio. However, it is important not to lose sight of the magical power of compounding at high rates of return. In my opinion, all ASX investors should target the maximum total return they can achieve for their risk profile.

Investors in retirement

As investors, we’re a motley crew. We all have motley goals, motley resources and motley risk appetite. Because of this, it is important to understand your own personal circumstances and invest accordingly. The below ASX stocks will be fantastic options for most investors in retirement, but not for all. 

I am a big fan of writing everything down so that you can refer back to your notes. Take the time to think about what you want to achieve by investing in ASX stocks. It will be much clearer if the following stocks are for you.

3 best ASX 200 stocks to buy now

Duxton Water Ltd (ASX: D2O)

Duxton Water is an alternative business, betting on the long-term value of water entitlements in Australia. The company owns a number of entitlements in various regions and leases these out to the agriculture industry. Management has forecast that the dividend can grow every 6 months for the next 2 years. 

Duxton is priced at a large discount to its monthly net tangible assets (NTA). At current prices, the stock should be able to weather more rain in the short term. Over the long term, the scarcity and price of water is expected to rise.

Duxton has a dividend yield of 4% or 5.7% grossed-up.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

This ETF holds a basket of 62 of the ASX’s best dividend-paying stocks. The composition of holdings has changed recently in line with market and economic conditions. The ETF has sold down the banks in order to buy more reliable dividend stocks.

Two of the top holdings now include BHP Group Ltd (ASX: BHP) and Wesfarmers Ltd (ASX: WES). Given the large number of delayed payments and cancelled dividends, a forward dividend estimate is more reliable than a trailing yield. Vanguard estimates a forward yield of 6.2% or 8.48% grossed-up.

Macquarie Group Ltd (ASX: MQG)

Macquarie may perform better than the other big ASX banks given its diversified operations. The group has significant operations in investment banking and asset management. Investment banking is often the most profitable during downturns, where there is a lot of capital raising and takeovers.

For FY21, Macquarie offers investors an estimated 3.91% partially franked dividend yield.

Foolish bottom line

Retirement is an opportunity to benefit from all your hard work and sacrifices. Selling down a portion of your portfolio in high-valued markets, mixed with taking dividends in cash during bear markets is a great way to fund your lifestyle as an investor in retirement.

More reading

• Afterpay share price rockets 50% in May, is it in the buy zone?
• Why these 3 ASX 200 blue chips could be set for growth this week
• Why the price of these ASX travel shares soared over 30% since mid-May
• 3 top ASX dividend shares to buy now
• 3 ASX 200 shares to watch this week

Motley Fool contributor Lloyd Prout has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended DUXTON 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) has bounced back from a poor start and is pushing higher. At the time of writing the benchmark index is up 0.25% to 5,770.9 points.

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

The Austal Limited (ASX: ASB) share price is up over 5% to $3.52. Investors have been buying the shipbuilder’s shares after it upgraded its FY 2020 guidance at the end of last week. One broker that has responded positively to this upgrade was Citi. This morning the broker retained its buy rating and lifted the price target on Austal’s shares to $4.05.

The CSL Limited (ASX: CSL) share price is up 3% to $284.46. Investors appear to be taking advantage of the biotherapeutics company’s recent share price weakness to top up positions. Even after today’s gain, CSL’s shares are down 17% from their 52-week high. Concerns over the pandemic’s impact on plasma collections has been weighing on the company’s shares.

The Fortescue Metals Group Limited (ASX: FMG) share price is up 3% to $14.30. The catalyst for this gain has been a jump in iron ore prices on Friday night. The spot benchmark iron ore price climbed above US$100 a tonne amid concerns over supply disruptions in Brazil because of the pandemic. According to CommSec, iron ore rose by US$4.50 or 4.7% on Friday to US$100.90 a tonne.

The Star Entertainment Group Ltd (ASX: SGR) share price has stormed almost 6% higher to $3.12. This follows the release of two announcements on Monday by the casino and resorts operator. The first was a new long-term gaming tax agreement with the New South Wales government. The other was the announcement that its Star Sydney business will reopen today. This will see private gaming rooms open and up to 12 food and beverage venues within the complex.   

More reading

• 3 top ASX dividend shares to buy now
• 5 ASX 200 winners and 3 losers from last week
• Why ASX iron ore miners may outperform this morning
• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000
• 5 things to watch on the ASX 200 on Monday

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 Austal Limited and CSL Ltd. 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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