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ASX coal shares are marching higher in early afternoon trade.

Again.

At time of writing the Yancoal Australia Ltd (ASX: YAL) share price is up 3.9% to $5.87; Whitehaven Coal Ltd (ASX: WHC) shares are up 1.9% to $5.28; and the New Hope Corporation Limited (ASX: NHC) share price is up 3.4% to $3.95.

While those gains may not sound extraordinary, they follow on a string of gains this calendar year.

While the S&P/ASX 200 Index (ASX: XJO) has struggled in 2022, down 5.8%, ASX coal shares have made hay amid soaring prices for the commodity, used to make steel and run power plants.

That’s helped Yancoal gain 110% year-to-date, while Whitehaven shares have soared 91.3%, and the New Hope share price has rocketed 70.3%.

So, why are they gaining once more today?

Coal prices break new records

As The Australian reported this morning, coal prices have set yet another new record high, citing sources who reported a shipment of Aussie sold for US$442.50 yesterday. That’s a premium to the average price for Australian coal this week, which stood at some US$410 per tonne.

Coal prices have been rocketing higher alongside oil and gas as more nations join in banning Russian energy imports following its invasion of Ukraine. Russia is one of the world’s biggest coal producers.

Japan is among the latest major consumers of coal to announce its intentions to stop using Russian sourced coal. In 2021, Russia supplied 12% of Japan’s thermal coal imports.

With supplies of coal already tight amid resurgent post-pandemic demand, cutting Russia out of the loop has led to a series of new all-time highs for coal prices. The situation is unlikely to turnaround rapidly, with many years required to bring a new mine into production.

How have ASX coal shares performed over the past 12 months?

With both thermal and coking coal prices going through the roof, ASX coal shares have been making windfall profits, reflected in their soaring share prices.

Since this time last year, the Yancoal share price has gained 185.9%, the New Hope share price is up 206.6%, and White Haven shares have leapt 275.2%.

For some context, the ASX 200 is up 1.8% in a year.

The post Why are ASX coal shares charging higher again today? appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares smashing multiyear highs on Wednesday
• Here are the best performing dividend shares in the ASX All Ords so far in 2022
• 2 ASX 200 shares smashing multi-year highs today
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
• My fund just went up 51%: This is how I did it

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 last few weeks have been brilliant for the Amcor (ASX: AMC) share price. It’s hit seven all-time highs in that period, reaching as high as $18.98.

Interestingly, it all appears to have been spurred by a single release from the company earlier this month.

At the time of writing, the Amcor share price is $18.47, 1.15% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also up 1.07% on Friday.

Let’s take a look at the release that seems to have kicked off the packaging manufacturer and supplier’s multi-week climb.

What drove the Amcor share price to new heights?

The Amcor share price’s first record high of the last month was reached on 5 May after the company released its earnings for the March quarter.

Within the release, it reported that, while it was impacted by supply shortages and price volatility of materials, energy, fuel, and labour, the quarter was a positive one.

Its sales increased US$501 million to around US$3.7 billion last quarter. That’s 15.6% higher than those it reported for the same quarter of 2021.

Amcor’s gross profit also lifted around 7.2% last quarter, reaching US$731 million.

Though, its operating income as a percentage of net sales dropped to 10% on the back of higher raw material costs.

Finally, Amcor’s diluted earnings per share (EPS) rose 2.9% to 17.8 US cents for the period while its outstanding share count fell 2.8% due to share buyback programs.

And making Amcor’s recent gains more impressive is the fact the company’s home sector has been struggling.

Over the last 30 days, the Amcor share price has surged almost 17%. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) has tumbled by more than 9%.

The Amcor share price has gained 11% since the start of 2022 and 19% since this time last year.

The post The Amcor share price has racked up 7 all-time highs in the past month. What’s going on? appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares smashing multiyear highs on Wednesday
• 2 ASX 200 shares smashing multi-year highs today
• What I love about these ‘boring’ ASX shares: fundie
• 3 ASX All Ordinaries shares hitting multi-year highs on Monday
• Guess which 2 ASX All Ordinaries shares smashed 52-week highs amid today’s carnage

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 positions in and has recommended Amcor Limited. 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 Novonix Ltd (ASX: NVX) share price is flying today, up 15.49% in early afternoon trading to $4.25. Novonix appears to be joining in on today’s market recovery after the savage sell-off yesterday. At the time of writing, the S&P/ASX All Ordinaries Index (ASX: XAO) is also up by 0.29%.

The only news out of the battery materials and technology company today is that Novonix will present at Citi’s 2022 Lithium & Battery Virtual Day on 26 May. Novonix announced that its CEO and co-founder, Dr Chris Burns, and CFO Nick Liveris, will present and hold virtual one-on-one meetings at the event.

The pair will present and participate in a moderated Q&A session from 2 pm to 2.35 pm.

Why is the Novonix share price gaining?

That news aside, today’s gain in the Novonix share price is likely a simple case of catch-up.

Yesterday, Novonix shares were pretty well beaten up — but so was the entire ASX market.

The All Ords fell by 1.46% and Novonix finished the session down 5.37%. At one point, Novonix shares were down 8%.

As my Fool colleague, James explained in his report, the broader market share price declines were “felt particularly hard the further up the risk curve you go”.

He added: “And with Novonix sporting a $2 billion market capitalisation despite recently reporting quarterly revenue of US$2.1 million, it’s about as high risk as it gets for investors.”

ASX technology shares significantly volatile

There is arguably no sector more volatile right now than ASX tech shares.

Technology companies are often the ones with big debt, which they are using to grow their burgeoning businesses. But with interest rates clearly on the move northwards, so are the interest costs of holding debt. So, that’s not great.

Plus, many tech companies are yet to turn a profit, so they’re not so attractive to ASX investors right now.

Investors appear to be favouring value shares, which are typically large, established, and profitable companies, over growth shares right now.

The S&P/ASX 200 Growth Index (ASX: SPAX2GUP) is down 11.37% year-to-date. By comparison, the S&P/ASX 200 Value Index (ASX: SPAX2VUP) is up 1.64%.

The Novonix share price is down 60% year-to-date and up 98% over the past 12 months.

The post Novonix up 15% on Friday as the market recovers appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: BHP, IGO, and Woolworths charge higher
• Why is the Novonix share price sinking 8% today?
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• Novonix share price fights to stay in the green on Monday
• These were the worst performers on the ASX 200 last week

Motley Fool contributor Bronwyn Allen 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 S&P/ASX 200 Index (ASX: XJO) is having a pleasing end to the week so far this Friday. The ASX’s flagship index has recorded a gain of 1% at the time of writing at just over 7,100 points. But one ASX share in particular is smashing the ASX 200 today. That would be the US fintech company Block Inc (ASX: SQ2) share price.

Block, which owes its ASX listing to its new ownership of Afterpay, is on fire today, no way around it. Block shares are presently up a pleasing 9.2% at $126.83 a share after the company closed at $116.10 yesterday and opened at $123.79 this morning.

Block share price rockets more than 9%

So why are Block shares shooting so dramatically higher today? Well, there hasn’t been any news or announcements out of the company itself we can point to.

However, there is a palpable mood on the markets today. And it’s one that is benefiting shares like Block. ASX tech shares are almost all enjoying some strong gains this Friday. We can see this in other tech shares including Zip Co Ltd (ASX: ZIP), Altium Limited (ASX: ALU), and Xero Limited (ASX: XRO).

Further, last night saw Block Inc (NYSE: SQ) – the company’s primary US listing – rocket 6.19% to US$87.14 a share. This came after Block held an investor presentation over in the US on Wednesday.

As our Fool colleagues over in the US covered at the time, one analyst called this presentation “a compelling vision of how various components of its ecosystem will become increasingly connected and synergistic over time”. Another described Block as “on a path to “eventually [becoming] a bank”.

So it’s perhaps no wonder that Block’s ASX listing is also steaming ahead today.

The Block share price is now up 10% since last Friday’s close, but still remains deep in the red over the past month (down almost 25%) and over 2022 so far (down more than 28%).

At the current Block share price, this ASX 200 fintech share has a market capitalisation of US$50.59 billion.

The post Why is the Block share price leaping 9% on Friday? appeared first on The Motley Fool Australia.

More reading

• The Zip share price is rocketing 6% today. Here’s why
• ASX 200 midday update: BHP, IGO, and Woolworths charge higher
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• Has the ANZ dividend been growing?

Motley Fool contributor Sebastian Bowen has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Block, Inc., Xero, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. and Xero. 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 inflation threat that’s rocking global markets is unlikely to go away soon and that will put several ASX shares on the S&P/ASX All Ordinaries Index (ASX: XAO) at risk of a margin squeeze.

The warning comes from UBS as it pointed out that businesses are facing record levels of cost inflation.

ASX All Ordinaries shares resisting inflation pressure

The good news is that most ASX shares can weather the storm and we are already seeing signs of this.

UBS commented:

When we look at how input and output prices have been evolving through the cycle, we still see a picture that broadly supports margins being maintained.

Over the last 18 months, the pricing power beta measure has been showing that companies are upping their sales prices comfortably, even as they report intensifying input costs.

This was evident during the February profit reporting season. There were many examples of ASX All Ordinaries shares easily passing on higher costs to their customers due to strong underlying demand.

Higher input costs yet to be a big threat

It helps that consumers and companies are flushed with cash, and therefore able to stomach rising prices, according to UBS.

On the other hand, companies that can absorb inflationary pressure have the opportunity to win market share.

The broker added:

We surveyed our team of stock analysts across the sectors where COGS inflation is relevant. Aggregating together responses on more than 80 identified companies, we found that freight / shipping costs were most commonly cited as a current input cost concern.

Rising prices of oil and agricultural products were also heavily mentioned as having a meaningful impact on operations. In contrast to many offshore equity markets, rising prices of semiconductors and chips was not a widespread concern for Australian companies.

How long can ASX companies hold out?

But the ability for ASX All Ordinaries shares to lift prices might be waning. UBS noted that the business cycle might be maturing and the peak in margin cyclicality has passed.

This doesn’t mean that all ASX shares are going to face a margin squeeze. This is going to be a case-by-case story. The broker highlighted several that it believes will struggle to pass on the rising cost of goods.

ASX All Ordinaries shares most exposed to inflation risks

This includes ASX building material suppliers like the Adbri Ltd (ASX: ABC) share price, Brickworks Limited (ASX: BKW) share price and Boral Limited (ASX: BLD) share price.

UBS also reckons that food companies like the Collins Foods Ltd (ASX: CKF) share price, Inghams Group Ltd (ASX: ING) share price and Costa Group Holdings Ltd (ASX: CGC) will feel the squeeze.

Other price takers that could suffer are the AMA Group Ltd (ASX: AMA) share price, Kogan.com Ltd (ASX: KGN) share price and Redbubble Ltd (ASX: RBL) share price.

The post These ASX All Ordinaries shares have the greatest margin risks from surging inflation: UBS appeared first on The Motley Fool Australia.

More reading

• Why is the Kogan share price leaping 5% today?
• Calix share price bounces about on $16 million payday
• 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 Brendon Lau has positions in COSTA GRP FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, Collins Foods Limited, Kogan.com ltd, and REDBUBBLE FPO. The Motley Fool Australia has positions in and has recommended Brickworks and Kogan.com ltd. The Motley Fool Australia has recommended COSTA GRP FPO and Collins Foods Limited. 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 back on form and charging higher. At the time of writing, the benchmark index is up 1.1% to 7,141.8 points.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is up 2% to $47.08. This follows confirmation that Woodside Petroleum Limited (ASX: WPL) shareholders have voted in favour of the merger with BHP’s petroleum operations. If all goes to plan, eligible BHP shareholders will be issued one new Woodside share for every 5.534 BHP shares they hold.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 14% to $6.54. Investors have been buying this mineral exploration company’s shares after it revealed that it has received the final outstanding approvals to undertake low-impact exploration drilling at the Hartog-Dampier targets at the Julimar Nickel-Copper-PGE Project. These targets are located to the north of the globally significant Gonneville PGE-Ni-Cu-Co-Au deposit.

IGO Ltd (ASX: IGO)

The IGO share price is up 5% to $11.67. This has been driven by news that the battery materials company has achieved the first and consistent production of battery grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery. IGO described the news as an important milestone for the lithium joint venture between it and lithium giant Tianqi Lithium Corporation. IGO owns 49% of the joint venture.

Life360 Inc (ASX: 360)

The Life360 share price is up 10% to $3.83. A rebound in the tech sector and the release of this location technology company’s annual general meeting update has boosted its shares. That update reveals that the company continues to expect its core Life360 subscription revenue to grow more than 50% in FY 2022.

The post Why BHP, Chalice Mining, IGO, and Life360 shares are storming higher appeared first on The Motley Fool Australia.

More reading

• Here’s why the Life360 share price has done a 180 today
• ASX 200 midday update: BHP, IGO, and Woolworths charge higher
• Here’s why the Chalice Mining share price is jumping 15% today
• BHP share price higher following Woodside shareholder merger approval
• IGO share price surges 7% higher on lithium update

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. 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 Crown Resorts Ltd (ASX: CWN) share price gained ground as shareholders overwhelmingly voted to approve its takeover.

A resounding 99.75% of shareholders voted for the deal, although state regulators have yet to give their blessing, according to the Australian Financial Review.

Shares in the casino operator are up 0.5% to $12.88 at the time of writing, as private equity firm Blackstone Inc (NYSE: BX) cleared another obstacle in its bid for Australia’s largest casino operator.

Crown share price firms as board backs vote

The takeover offer is priced at $13.10 a share via a scheme of arrangement. Crown’s board threw its support behind the deal, pointing out that the independent expert Grant Samuel found the offer to be “fair and reasonable”.

Also, Crown’s board reckoned the offer was priced at a “significant premium”. Some may not quite feel that way given that the private equity giant is offering a 4.8% premium to the $12.50 that the Crown share price was trading at just ahead of the takeover announcement.

But given that Crown was unable to elicit a better counteroffer, I don’t think embattled shareholders wanting out are likely to get a better deal. At least they can take some comfort from knowing that the multiples Blackstone is offering are largely in line with comparable deals.

The further advantage is that post-takeover, Crown’s many regulatory issues become someone else’s problem.

What happens next

If the vote is carried, Crown will ask for a short adjournment at a court hearing on 24 May.

The company will then announce to the ASX Blackstone’s required gaming regulatory approvals and the date for the final court hearing.

The scheme will only be effective when Crown lodges the court orders approving the scheme with the Australian Securities and Investments Commission (ASIC).

It will take around seven days from there for the scheme to be implemented. Crown shareholders can expect their payment following that.

End to a volatile year could be near

Given the time value of money, this probably explains the slim discount to the Crown share price versus the offer price.

It has been a volatile 12 months for the company. The Crown share price had collapsed to a 10-year low of $8.61 in June last year before rallying on the takeover bid to trade flat.

The post Here’s why the Crown share price is climbing higher today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Life360 share price has done a 180 today
• Critical Resources share price jumps 6% on ‘further significant’ lithium find
• Webjet share price tipped to rise: Broker says it ‘hasn’t wasted a crisis’
• The Zip share price is rocketing 6% today. Here’s why
• Johns Lyng share price slides following $13m of insider selling

Motley Fool contributor Brendon Lau 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 Life360 Inc (ASX: 360) share price is back on the horse on Friday after tumbling around 5% yesterday.

Its turnaround comes after the company held its annual general meeting this morning wherein it reaffirmed its previously outlined guidance.

At the time of writing, the Life360 share price is $3.87, 11.53% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 1.1%.

And, as all good things are better shared, it’s worth noting the broader tech sector is having a good day on Friday.

Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up 4.58% and the S&P/ASX All Technology Index (ASX: XTX) is lifting 3.63%.

Let’s take a closer look at today’s news from the software development company.

What’s boosting Life360 stock today?

The Life360 share price is back in the green after the company readdressed its 2022 guidance.

As the company stated in April, it expects its core Life360 subscription revenue ­­– excluding Tile and Jiobit – to grow more than 50% this year.

Life360 is also expecting to report a non-GAAP underlying earnings before interest, tax, depreciation, and amortisation (EBIDTA) loss of US$32 million to US$38 million.

The company predicts it will end 2022 with US$65 million to US$70 million in cash and record a full year of positive operating cash flow in 2024.

Additionally, it noted its monthly active users have continued to grow since it released its latest quarterly results.

Life360 boasted more than 40 million monthly active users at the end of April, 25.6 million of which were in the United States. It also had 1.34 million Paying Circles at the end of April. That’s up from 1.3 million at the end of March.

Life360 share price snapshot

This year has been rough on the Life360 share price.

It has tumbled nearly 60% since the start of the year. Though, it’s fallen just 25% since this time last year.

The post Here’s why the Life360 share price has done a 180 today appeared first on The Motley Fool Australia.

More reading

• 2 beaten down ASX tech shares analysts say have major upside potential
• Top brokers name 3 ASX shares to buy today
• Thursday thrashing: ASX tech shares tumble
• Technophobia? Why ASX 200 tech shares are getting hammered again
• Unprecedented: Does this event mean we’re now in a bear market?

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 positions in and has recommended Life360, Inc. 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.

from The Motley Fool Australia https://www.fool.com.au/2022/05/20/heres-why-the-life360-share-price-has-done-a-180-today/

The Critical Resources Ltd (ASX: CRR) share price is again rebounding higher following the company’s latest update.

At the time of writing, the base metals and lithium exploration company’s shares are surging 6.25% to 8.5 cents.

It’s worth noting that this means Critical Resources shares are now up more than 23% in the past week.

Critical Resources stumbles upon further visual spodumene

Investors are bidding up the Critical Resources share price after the company encountered more visual spodumene at its Mavis Lake Lithium Project.

In its statement, Critical Resources advised it has discovered a further 17.5 metres of visual spodumene in two drill holes.

Below are the following results:

Hole 14

• 17.5 metres of approximately 18% silvery-white, fine to large spodumene laths hosted from 143.25 to 160.75 metres of pegmatite

Hole 15

• 9.7 metres of approximately 5% white-grey, fine to large spodumene laths hosted from 129.1 to 138.8 metres of pegmatite

Critical Resources noted that 14 out of 15 holes have intersected spodumene-bearing pegmatite mineralisation.

Following the current success of its 5,000-metre drill program, work has commenced to extend drilling to 10,000 metres. This includes 28 new targets which have been identified, including 11 high priority targets for exploration activities.

Samples and core from the above completed drill holes have been sent for analysis and are expected in due course.

Critical Resources managing director, Alex Biggs commented:

It is extremely pleasing to see further significant intercepts along strike. These results follow on from our recent 23.1m interception in hole 13 and continues to re-enforce the potential prospectively at Mavis Lake.

We are increasingly excited with what the rest of the drill program will uncover, and we look forward to updating our shareholders as this drill program continues.

Critical Resources share price snapshot

Over the past 12 months, the Critical Resources share price has soared by more than 250% in value.

The company’s shares hit a 52-week high of 14 cents in January, before losing ground in the following months.

Based on valuation grounds, Critical Resources presides a market capitalisation of around $119.01 million.

The post Critical Resources share price jumps 6% on ‘further significant’ lithium find appeared first on The Motley Fool Australia.

More reading

• Critical Resources share price leaps 12% on latest lithium project news

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.

from The Motley Fool Australia https://www.fool.com.au/2022/05/20/critical-resources-share-price-jumps-6-on-further-significant-lithium-find/

The Unibail-Rodamco-Westfield (ASX: URW) share price is down 10% today while the rest of the market recovers from yesterday’s trouncing.

At the time of writing, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 1.06% to 7,380 points. The URW share price is currently trading at $4.86, down 10% on yesterday’s close.

The move follows a news release from the company to the ASX shortly before the market closed yesterday.

In its release, the ASX global real estate developer said it would rebrand as Westfield three flagship shopping centres in Spain, Sweden and Poland.

The centres involved are the most important in their respective markets. They are Parquesur in Madrid, Taby Centrum in Stockholm, and Galeria Mokotow in Warsaw.

The three centres share a number of characteristics. These include excellent locations and public transport, distinctive architecture, and a best-in-class approach to the customer experience.

What did management say?

In a statement, Unibail-Rodamco-Westfield said it was focused on rebranding flagship centres in Europe’s wealthiest cities and catchment areas.

The company said:

The rebranding continues the expansion of the Westfield brand in Europe as the company drives new revenues through media advertising and brand experiences, turning its huge footfall of 550 million visits across its European assets into a qualified audience, while also leveraging the Westfield brand’s significant value to retailers, who see over 20% higher sales at URW’s centres even when compared to other A-category malls.

Unibail-Rodamco-Westfield chief customer officer Caroline Puechoultres added:

The significant opportunity afforded to both retailers and brands by this increasingly digitally linked network of destinations is unparalleled – through Westfield our partners can reach tens of millions of European consumers, driving new possibilities in advertising, brand marketing and retail.

What else is happening at Unibail-Rodamco-Westfield?

The company has a global portfolio of real estate assets worth 54.5 billion euros as of 31 December. About 86% are retail assets, including 84 shopping centres of which 53 in Europe and the United States are considered flagships.

On 28 April, the company released its Q1 FY22 update. It showed a 34.2% lift in turnover compared to Q1 FY21, representing “strong post-COVID-19 recovery and asset deliveries”.

The report revealed tenant sales at 93% of 2019 levels and an improvement in rent collection to 93% for Q1. It also reported “sustained” leasing activity with 521 deals in Q1, up 4% on 2019 and 60% being long-term leases.

URW share price snapshot

The URW share price is down 3% year-to-date. This represents a significant outperformance of the real estate sector’s benchmark index. The S&P/ASX 200 A-REIT Index (ASX: XPJ) has fallen 18% in 2022 so far.

There are mixed results among other property groups with a heavy retail focus. The Scentre Group (ASX: SCG) share price is down 11% in 2022 so far. Vicinity Centres (ASX: VCX) shares are up 6%.

The post Why is the Unibail-Rodamco-Westfield share price tumbling 10% today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 stocks dive 2.4% in worst trading day since Ukraine crisis hit

Motley Fool contributor Bronwyn Allen 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.

from The Motley Fool Australia https://www.fool.com.au/2022/05/20/why-is-the-unibail-rodamco-westfield-share-price-tumbling-10-today/