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The ETFS Battery Tech & Lithium ETF (ASX: ACDC) share price has been struggling this year, but has its downfall presented a buying opportunity?  

Experts flagged the exchange-traded fund (ETF) as worth looking at earlier this year. Let’s take a look at what the ETF has going for it – and against it – right now.

At the time of writing, shares in the ETFS Battery Tech & Lithium ETF will set an investor back $83.30 apiece.

What’s to like about ETFS Battery Tech & Lithium ETF?

The ETFS Battery Tech & Lithium ETF (ASX: ACDC) could be a good entry point for ASX investors interested in getting on board the lithium train without all the hassle.

That’s according to Saxo Markets strategists Jessica Amir, Redmond Wong, and Charu Chanana. They believe the ETF could help investors get an easy foothold in the decarbonisation movement.

“[I]f stock picking is not for you, and if you believe, like we do, that the electric vehicle industry and the critical minerals [and] commodities will continue to see rising demand, and policy support, and also benefit from the world striving to be carbon neutral by 2050, then you could invest or trade in … ETFS Battery Tech & Lithium ETF,” the strategists wrote in March.

However, this week’s ASX lithium sell-off might have some potential investors wary of the ETF.

As The Motley Fool Australia’s James Mickleboro reported this morning, ASX lithium shares’ Wednesday tumble – generally attributed to Goldman Sachs‘ bearish outlook – might have had a more permanent catalyst.

Instead, Chinese electric vehicle manufacturer, BYD, might have been behind much of yesterday’s sell-off.

The company is reportedly snapping up mines to provide all its lithium needs for the next 10 years. That would, presumably, see demand for the ‘white gold’ fall, potentially taking its value with it.

Though, it’s worth noting that the ETFS Battery Tech & Lithium ETF’s biggest holding is in BYD. It currently makes up 4.6% of the fund’s investments.

Therefore, it could be assumed that the bad news for lithium-producing stocks could be, in some way, good for the ETF.

Additionally, only 22.6% of its holdings are in the materials sector. Thus, lithium producers are a minority of its investments.

Therefore, some ASX investors might still agree with Saxo Markets’ view of the ETFS Battery Tech & Lithium ETF despite this week’s lithium sell-off

The post Down 14% in 2022, is the EFTS Battery Tech & Lithium EFT (ACDC) a buy? appeared first on The Motley Fool Australia.

More reading

• These 2 ASX ETFs are focused on ‘green’ technology
• 2 fantastic ETFs for ASX investors to buy next week
• Does the ETFS Battery Tech & Lithium ETF (ACDC) pay dividends?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Zip Co Ltd (ASX: ZIP) share price is facing another rocky day on the market today.

The company’s share price is currently trading at 79.3 cents, a 4.79% fall. For perspective, the S&P/ASX 200 Financials Index (ASX: XFJ) is slipping 1.30% at the time of writing.

Let’s take a look at what might be impacting the Zip share price.

Zip share price falls

Zip shares are falling, but they are not alone in the buy now, pay later (BNPL) sector. Block Inc (ASX: SQ2) is slipping 4.4% today, while Sezzle Inc (ASX: SZL) shares are descending 5.77%. Openpay Group Ltd (ASX: OPY) is sliding 2.17%. In contrast, Beforepay Group Ltd (ASX: B4P) is climbing 1%.

The Zip Co share price also plummeted 8.17% on the Frankfurt Stock Exchange in Europe overnight.

Investors in BNPL shares, including Zip, could be reacting to news out of the United States on Tuesday.

Rising interest rates and late payments are a concern for BNPL shares, the Wall Street Journal reported.

The WSJ highlighted late payments or related losses were “piling up” for the biggest players in the industry, naming Zip specifically.

Interest rate hikes could also pose a problem for these BNPL companies, due to their reliance on credit lines, the publication noted.

Commenting on the outlook for BNPL shares, the WSJ added:

Buy-now-pay-later companies boomed when consumers were flush with cash and buying goods at a feverish pace. How they fare in a downturn, when savings evaporate, spending slows and bad debts mount, is untested.

The young industry finds itself in a tricky spot at a time when the economy is slowing and, some fear, headed for a recession.

Zip shares hit a multi-year low today and based on the current share price, are at their lowest level since May 2018. Zip shares fell 9% yesterday amid broader tech sector weakness.

The company has faced multiple broker downgrades following the company’s third-quarter update, due to slowing growth. Despite this, Zip reported 39% higher revenue and 27% more transaction volumes year on year.

Zip share price snapshot

The Zip share price has fallen 88% on the ASX in the past year, while it has dropped 81% in the year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has shed 1% in the past year.

Zip has a market capitalisation of about $545 million based on the current share price.

The post Why is the Zip share price sinking yet again on Thursday? appeared first on The Motley Fool Australia.

More reading

• Is this a ‘fundamental flaw’ with ASX BNPL shares like Zip
• Why Allkem, Origin, PointsBet, and Zip shares are sinking today
• Why Bubs, PolyNovo, Suncorp, and Zip shares are dropping
• ASX 200 midday update: Beach, Santos rise but EML, Zip tumble
• May was another shocker of a month for the Zip share price. Here’s why

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Shares of Strike Energy Ltd (ASX: STX) have surged more than 10% into the green on Thursday and now trade at 32 cents apiece.

Investors appear to be bidding up the Strike Energy share price in response to a company announcement concerning its South Erregulla gas discovery.

In broad market moves, the S&P/ASX 200 Energy index (XEJ) has also spiked 280 basis points today.

Returns this year to date for both instruments are plotted on the chart below.

What did Strike Energy announce?

The company advised that the multi-rate test it has conducted at its South Erregulla-1 well has delivered positive results “that are reflective of the high-quality gas charged reservoir” observed in the core analysis.

“Testing to date has produced a choke coefficient peak rate of 80 [million standard cubic feet per day] mmscfd and a sustained rate of more than 78 mmscfd on a 78/64” choke with flowing tubing head pressure (FTHP) of 2,590 psi over a 5-hour period,” the company said.

The results indicate that the well could potentially produce “unrestricted rates in excess of 100 mmscfd,” it added.

Strike will now commence preparation for the production test of the South Erregulla-1 over-pressured Wagina gas discovery which will require the mobilisation of a workover rig to isolate and reset the tubing at the Wagina Sandstone interval.

Management commentary

Speaking on the announcement, Strike Energy CEO, Stuart Nicholls said:

This excellent flow testing provides additional confidence that the Kingia gas discovery at South Erregulla is a large, productive source of low-cost, low impurity natural gas, and that it can form the foundation of Project Haber’s globally competitive nitrogen-based urea fertiliser.

In a time where undeveloped sources of gas are nationally and globally short, the significance
of Strike’s Perth Basin success continues to rise.

This year to date, the Strike Energy share price has jumped more than 56% into the green, despite clipping a 7% loss in the past 12 months.

The post Here’s why the Strike Energy share price is zipping 10% higher today appeared first on The Motley Fool Australia.

More reading

• Why Bubs, IGO, Strike Energy, and Woodside shares are pushing higher
• Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher
• Here’s why the Strike Energy share price is avoiding the bloodshed today
• Here’s why the Strike Energy share price is leaping 5% today

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I think there are some great-looking opportunities on the ASX share market this month. If I had $5,000 to invest into some ASX shares, there are some investments I’d choose for the long term.

While some investors may be fearful of volatility, I think there are advantages to investing at times like this. The most obvious one is that investors can buy businesses at lower prices. I like the sound of that.

In my opinion, choosing a good investment at a good price can lead to good returns over time. You never know what share prices are going to do next, but I want to jump on the opportunities when I see them.

With that in mind, I would spend $5,000 like this:

VanEck Morningstar Wide Moat ETF (ASX: MOAT) — $2,500

This is an exchange-traded fund (ETF) that is based on investing in US businesses that are deemed to have competitive advantages — or ‘economic moats’ — that are likely to last for many years into the future.

Economic moats can come in many different forms such as intellectual property, brand power, cost advantages, and so on.

Businesses are only chosen for this ETF’s portfolio if Morningstar analysts believe the economic moat will stay strong for at least the next decade and, more likely than not, the second decade as well.

On top of that, businesses are only picked for the portfolio if they are good value compared to Morningstar’s estimate of fair value.

At the latest disclosure, these are some of the biggest positions in the portfolio: Lockheed Martin, Bristol-Myers Squibb, Altria, Dominion Energy, and Berkshire Hathaway.

I like the idea of this ETF because of the quality across the board that it offers. It also seems to be consistently invested in businesses that are good value because the portfolio changes to the next opportunities.

Lovisa Holdings Ltd (ASX: LOV) – $1,500

Lovisa is a fast-growing ASX share that sells affordable jewellery in multiple countries. The USA is a particularly promising market for the company, which is why it’s working on expanding its store network there.

The business appears to be very scalable, which bodes well for future profitability. In the FY22 half-year result, Lovisa reported that it grew its revenue by 48.3%, while net profit after tax (NPAT) increased by 70.3%.

I think that this ASX share has a compelling future under the new management. There are plenty of other regions that Lovisa can expand to, such as countries in Asia, which will lengthen its growth runway.

Another benefit to the company is that it pays dividends, so shareholders are getting the benefit of the profit generated in the form of cash returns.

I think this ASX share can achieve good compounding for years to come.

Sonic Healthcare Limited (ASX: SHL) – $1,000

Sonic Healthcare is a leading company in the pathology sector. It generates profit from Australia, Europe, and the US – it’s globally diversified.

The company benefits from long-term trends such as aging demographics. This is helping it achieve steadily-rising revenue and profit. I like that the business is quite defensive – people need healthcare whether the economy is booming or stuttering.

Sonic Healthcare is also benefiting from the ongoing level of COVID-19 testing. It has been an important player in helping slow the spread of the pandemic. It has made plenty of cash flow from testing, which the company has been putting towards acquisitions to boost long-term earnings. Canberra Imaging is one example of a recent acquisition.

I’m attracted to the ASX share’s long-term future, even if it hasn’t fallen as much as some other ASX shares in 2022.

The post I’d invest $5,000 into these excellent ASX shares for the long term appeared first on The Motley Fool Australia.

More reading

• 3 top ETFs to today in June
• Analysts name 2 ASX growth shares to buy with major upside potential
• 3 ASX growth shares brokers rate as buys right now
• Is it reasonable to expect share price growth AND reliable dividends from ASX shares?
• 2 ASX shares I’d buy with $1,000

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway (B shares) and Bristol Myers Squibb. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Dominion Energy, Inc and Lockheed Martin and has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Berkshire Hathaway (B shares), Lovisa Holdings Ltd, Sonic Healthcare Limited, and VanEck Vectors Morningstar Wide Moat ETF. 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 a sea of red across the ASX today, the Polynovo Ltd (ASX: PNV) share price is faring no better.

During early afternoon trade, the medical device company’s shares are swapping hands at $1.14, down 4.6%.

This comes despite Polynovo announcing another sizeable share purchase from one of its directors.

For context, the All Ordinaries Index (ASX: XAO) is 0.95% in the red to 7,391.9 points.

Polynovo insider buying action continues

Following the recent market slump, the company’s chair, David Williams has decided to take advantage of the Polynovo share price weakness.

According to its release, Polynovo advised that Mr Williams has bought 79,557 shares at a price of $1.1849 apiece. This was conducted via an on-market trade by Mr Williams’ subsidiary, Lawn Views Pty Ltd.

The transaction equates to a value of more than $94,000.

Following the latest purchase, this means that Mr Williams now has over 23.24 million fully paid ordinary Polynovo shares across all holdings.

The latest buy-in reflects that a number of insiders, particularly Mr Williams believe Polynovo shares are trading at bargain levels.

It is worth noting that at the beginning of May, Polynovo shares touched a 52-week low of 83.5 cents.

It’s also worth noting that Mr Williams has made a number of purchases since the beginning of May 2022. In fact, he has spent around $4.65 million over that time.

Polynovo share price summary

Despite this month’s 19% gain, Polynovo shares have fallen by 55% in the past 12 months.

Year to date, its shares are down roughly 25%.

Based on today’s price, Polynovo presides a market capitalisation of approximately $817.18 million.

The post The director of this ASX company just made another sizeable share purchase appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares in May
• Why Bubs, PolyNovo, Suncorp, and Zip shares are dropping
• These are the 10 most shorted ASX shares
• After its recent surge, the Polynovo share price is down 8% this week. Is it a buy?
• Why Incitec Pivot, Openpay, PolyNovo, and Sayona Mining shares are sinking

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended POLYNOVO FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Ethereum (CRYPTO: ETH) price is down 6% over the past 24 hours.

Halfway through the second day of June, the world’s No. 2 token by market cap is trading for US$1,827 (AU$2,555).

That puts the Ethereum price down 8% since we kicked off the new month.

Following a 27% loss in May, crypto investors are hoping for a turnaround in June.

To get some insight into what investors might expect for the crypto in the upcoming month, we reached out to two industry experts.

A big change is coming

Jonathon Miller, Kraken managing director for Australia, told us: “While price movements matter, it’s important to focus on the innovation happening in the space during these times and it’s quite clear there is still plenty happening and lots more to come.”

On that front, he points out that:

Ethereum is set for a big change in the near future that will see it move away from proof-of-work to a proof-of-stake protocol. This is a very complex transformation and has the potential to impact the entire ecosystem, bringing with it new opportunities and new risks.

While it’s impossible to predict how this will affect the Ethereum price, we should not underestimate the impact of this change. It’s something that a lot of people will be watching very closely.

8 June could see a big move in the Ethereum price

Simon Peters, market analyst at multi-asset trading platform eToro, agrees that one of the biggest factors in play for Ethereum is the upcoming merge, as the shift to proof-of-stake is called.

He said this has been “top of mind for many in the crypto community in recent weeks”.

Peters explained:

Ethereum’s current proof-of-work blockchain will merge with the new proof-of-stake Beacon Chain. This will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake.

The Ethereum price will be one to watch next week, on 8 June.

“The merge is planned for August, but before it happens on the mainnet, a merge will be tested on public testnets. Ropsten testnet merge has been set for 8 June,” Peters told us.

But the merge is likely to throw up both headwinds and tailwinds for the Ethereum price.

According to Peters:

Once the merge is completed on the mainnet, this will effectively unlock the ETH that has currently been staked (and staking rewards earned thus far for validating new blocks on the POS beacon chain), so we could see some selling pressure on ETH trading pairs on crypto exchanges.

At the same time though if the annual staking reward yields increase post merge, this could encourage buying of ETH and in turn potentially push up Ethereum prices.

The post Can the Ethereum price redeem itself in June? Crypto experts weigh in appeared first on The Motley Fool Australia.

More reading

• The Ethereum share price tumbled 27% in May. Here’s why
• One little-known crypto that could benefit from a rebound in the NFT market
• Ethereum sinks 10% on 7-block reorg — Here’s what to know
• This is the top performing crypto in 2022 so far, and it sure isn’t Bitcoin
• Looking to spend your crypto? Here are 5 things you can buy in 2022

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Ethereum. The Motley Fool Australia has positions in and has recommended Ethereum. 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 months of pain, has the Bitcoin (CRYPTO: BTC) price finally made its last walk down despair avenue?

Cryptocurrency investors have received an extended stint of repetitive lashings since late last year. During this time, the Bitcoin price has receded by a tearful 54% from a top of A$91,100. Today, the original decentralised peer-to-peer payment network is fetching a price of A$41,640.

However, with the fear and greed index displaying ‘extreme fear’, has the more than decade-old cryptocurrency reached a floor?

More pain or gain ahead for Bitcoin price?

As always, there are forecasts being hurled by analysts of all shades between green and red. Though, there are a couple of factors that may suggest the original crypto is getting set for an upwards movement.

First of all, Tuesday’s bounce that saw the Bitcoin price surge from A$40,500 to A$44,000 broke a nine-week drought of green weekly returns. Commenting on this, head of technical strategy at Fundstrat Global, Mark Newton stated:

While it might take some time for intermediate-term trends and momentum to improve, it looks right to position long for rallies up to $US34,218 (A$47,783) initially. This marks the first meaningful upside target that also aligns with BTC-USD’s two-month downtrend.

In other positive news, Bitcoin’s scaling solution for processing transactions — also known as a layer-2 protocol — reached a new all-time high for processing capacity. On 27 May, the Lightning Network hit a capacity of 3,915 BTC.

Another indicator that might suggest that the Bitcoin price is nearing a bottom is the disconnect between mining cost and mining rewards. As reported by CoinDesk, the high cost of electricity, paired with falling crypto prices, has resulted in unprofitable operations.

Many Bitcoin mining companies have sold their mined bitcoins in order to sustain operations. This has created downward pressure on the price of the cryptocurrency. In a way, this incentivises further adoption of renewable energy for Bitcoin mining. Which could wash away a pollutant cloud that has hung over Bitcoin’s head.

The post Has the Bitcoin price bottomed? appeared first on The Motley Fool Australia.

More reading

• Why is the Bitcoin price bouncing back this week?
• Down 17%, what went so wrong for the Bitcoin price in May?
• Bitcoin price decouples from tech shares, but not as hoped
• Why Bitcoin, Dogecoin, and Shiba Inu are falling today
• This is the top performing crypto in 2022 so far, and it sure isn’t Bitcoin

Motley Fool contributor Mitchell Lawler has positions in Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. 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’s been a tough 2022 so far for Boral Ltd (ASX: BLD) with shares in the building supplies company down more than 51% in the red this year-to-date.

The Boral share price sank to 52-week lows in February post-dividend when the company returned $3 billion in capital to shareholders. It hasn’t recovered since.

At the time of writing, the Boral share price is down 1.18%, trading at $2.925.

Sentiment appears to be shifting

Analyst sentiment appears to be shifting for Boral, with a string of research notes highlighting impending risks for the company in May.

UBS analyst Lee Power noted last month that Boral had realised a $47 million benefit to costs on diesel from FY19 to FY21. However, he added:

With no hedging for diesel post-April 2022, we think the gains over the past few years will continue to unwind.

We see diesel as more significant than coal and note diesel (net of fuel rebates) represents $59 million of the $130 million in energy and fuel costs in FY21 (versus coal at $14 million).

Another macro-themed report from UBS by Richard Schellbach also said that Boral was one of 19 stocks that might be facing headwinds due to rising input costs.

Meanwhile, analysts at Morgan Stanley reckon the market has already priced in any prospect of improved FY23 earnings.

The broker cut its rating on Boral from equal weight to underweight in a recent note, even though they reckon the company will boost pre-tax earnings.

It now values Boral at $2.80 per share, a shade ahead of bear Credit Suisse at a $2.60 price target.

Following sell ratings from Credit Suisse and Morgan Stanley in May, calls are now evenly split between buys, holds and sells at one-third each, per Bloomberg data.

About the Boral share price

The consensus price target for Boral is $3.35 per share from this list, implying around 13% upside potential at the time of writing.

In the last 12 months, the Boral share price has sunk more than 57% into the red and trades on a book value per share of $3.81 on last check.

The post Will the ‘gains continue to unwind’ for the Boral share price? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• These ASX All Ordinaries shares have the greatest margin risks from surging inflation: UBS
• Why Boral, Eagers Automotive, PolyNovo, and Serko shares are dropping
• ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles
• Boral share price down 3% on earnings hit

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and dropped deep into the red. At the time of writing, the benchmark index is down 1.1% to 7,151.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is up almost 8% to 63 cents. This gain appears to be a bit of an overreaction to an announcement that flights have been scheduled to take Bubs’ infant formula to the United States. No changes have been made to the volumes that were previously announced. Time will tell if this is a temporary sales boost or something greater.

IGO Ltd (ASX: IGO)

The IGO share price is up 3% to $11.52. This is despite there being no news out of the battery metals miner. Though, as its shares were sold off on Wednesday following significant weakness in the sector, some investors may believe a buying opportunity has been created.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 8.5% to 31.5 cents. This follows an update on production testing activities and operations at the company’s South Erregulla gas discovery. Strike has been testing the producibility from perforations across the Kingia Sandstone reservoir and delivered excellent results. Management is confident that this gas discovery is a large, productive source of low-cost, low impurity natural gas.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 5% to $31.76. This gain comes despite two developments that you would expect to weigh on the company’s shares. The first is BHP Group Ltd (ASX: BHP) shareholders now being able to trade the shares they received from the petroleum demerger. The other is a $1.115 billion block trade that was made before the market open at a 3.5% discount of $29.15. It’s possible that the latter has dried up the sell-side in one fell swoop.

The post Why Bubs, IGO, Strike Energy, and Woodside shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• Which ASX lithium shares are rebounding on Thursday, and which are not?
• Why is the ‘new’ Woodside share price leaping 6% today?
• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Bubs share price jumps on first US shipments
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BUBS AUST FPO. 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 Ltd (ASX: ASX) share price is in the red during trade on Thursday.

This comes after the company announced the appointment of its first female CEO.

At the time of writing, the stock exchange operator’s shares are down 1.61% to $80.12 apiece.

ASX welcomes first female CEO

Prior to market open, ASX revealed that Helen Lofthouse would take over the role as managing director and CEO.

Outgoing CEO Dominic Stevens will continue to hold the top position until 31 July 2022. He will remain in an advisory role to ensure a smooth transition before retiring on 30 September 2022.

Ms Lofthouse is currently ASX’s Group Executive Markets which is its largest business by revenue. Her responsibilities include cash and derivatives trading, including equities, interest rates, commodities and energy products, and the benchmark’s business and international sales.

Ms Lofthouse joined ASX in September 2015 as a member of the executive leadership team.

An accomplished financial markets executive with more than 20 years of experience in cash equity and debt markets, Lofthouse will become the company’s first female CEO.

It marks a milestone move for ASX as an increasing number of women are beginning to take the helm.

Prior to joining ASX, Ms Lofthouse was based in London where she was a managing director at UBS.

Before that she worked in various senior roles at JPMorgan.

Commenting on the move, ASX chair Damian Roche said:

Given the high calibre of experienced candidates attracted to the position, we are delighted that the outstanding choice to lead ASX as its new CEO comes from within the organisation.

It is testament to Helen’s qualities and highlights the strength within ASX’s executive ranks. It also reflects the Board’s confidence in the strategy and performance of the company in recent years.

We look forward to the fresh ideas and enthusiasm Helen will bring to the role as our new CEO. Her appointment ensures a smooth and orderly CEO transition. ASX’s exciting future is in strong and capable hands.

ASX share price snapshot

The past 12 months have been a wild ride for investors, with the ASX share price up more than 4.5%.

Year-to-date, its losses are hovering at almost 14%.

Based on the current share price, ASX commands a market capitalisation of around $15.51 billion.

The post ASX share price slips following first female CEO appointment appeared first on The Motley Fool Australia.

More reading

• ‘An easy one’: Expert reveals which ASX share he’d hold for 4 years
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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