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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is pushing higher on Wednesday.

In afternoon trade, the banking giant’s shares are up 0.6% to $27.43.

Why is the ANZ share price pushing higher?

The catalyst for the rise in the ANZ share price today has been the release of a half-year result that revealed earnings ahead of the market’s expectations.

According to the release, the bank reported cash earnings from continuing operations of $3,113 million. This represents a 4% increase over the prior corresponding period but a 3% decline on the second half of FY 2021.

It was also well-ahead of what analysts at Goldman Sachs were expecting from the bank thanks to lower bad and doubtful debts (BDD).

Goldman commented: “ANZ reported 1H22 cash earnings (company basis) from continued operations of A$3,113 mn, which was up 4.1% on pcp and 4.6% ahead of GSe, with the beat driven by outperformance on the BDD charge.”

And while ANZ’s CET1 ratio, which fell 81 basis points to 11.53%, was softer than the broker was expecting, it hasn’t been enough to stop the ANZ share price from rising today.

Finally, ANZ’s fully franked interim dividend of 72 cents per share was in line with expectations.

Analyst call takeaways

Goldman Sachs also released a separate note with key takeaways from its analyst call.

Starting with a positive, ANZ spoke positively about its net interest margin.

Goldman said: “ANZ believes its solid 2H22 margin performance was achieved through discipline in new lending pricing through the half, as well as deposit repricing. While, price competition in AU and NZ remained intense, ANZ saw a material decline of flows into fixed rate lending through (26% in Mar-22 vs period average of 41%). “

A negative, which could impact broker valuations for the ANZ share price in the coming days, related to its cost base.

The broker advised that the bank is effectively scrapping its $8 billion cost base target by FY 2023.

It explained: “ANZ no longer believes the current environment is supportive of having an absolute cost target and so it is effectively walking away from its A$8 bn exit run-rate cost base by FY23E. Furthermore, ANZ expects its 2H22 costs to be about in line with 1H.”

“Management would not be drawn on where both run-the-business and investment spend will ultimately settle at but does expect that the extent to which investment spend is expensed will be more consistent with 1H22 levels (i.e. 88%) than historical levels (70-75%) given the nature of investment going forward will be less about building assets, and focus more on cloud-based enterprises.”

Are ANZ’s shares in the buy zone?

As things stand, Goldman Sachs sees a lot of value in the ANZ share price. It currently has a buy rating and $32.51 price target on the bank’s shares.

However, as mentioned above, once analysts have updated their financial models, this recommendation and valuation could change.

The post ANZ share price rises after half-year earnings beat appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: ANZ higher on results, Flight Centre and JB Hi-Fi sink following updates
• Why ASX 200 bank shares are in the spotlight
• ANZ share price on watch amid $3.1bn half-year cash profit
• 5 things to watch on the ASX 200 on Wednesday
• Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise

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 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Becoming a millionaire may seem like a fantasy when you’re working hard to cover the bills. But the good news is you don’t need a huge paycheck or a winning lottery ticket to amass a seven-figure nest egg by the time you reach retirement age.

In fact, by following just four simple steps, you should be able to save at least $1 million to help support you in your later years. Here’s what those steps are. 

1. Start investing early

It’s much easier to save $1 million if compound growth helps make it happen. When you begin investing, the money you’ve contributed to your account starts to produce returns. Those returns can be reinvested. When that happens, your account balance grows without any further intervention from you.

The sooner you begin investing, the more your returns can multiply over time and grow your balance. Say, for example, you invest $100 and earn a 10% return. By the end of the year, you’d have made $10 and would have $110. The subsequent year, if you earned the same 10% return, you’d make an $11 profit instead of a $10 one because your returns would be earning money for you as well. 

Compound growth is powerful. If you begin investing at age 20 and benefit from 45 years of compounding, you could end up with a $1 million nest egg by contributing just $115.91 per month to your account (if you earned an average 10% annual return). But if you waited until age 40 and had just 25 years of growth, you would have to contribute $847.33 per month to amass $1 million. 

Obviously, you can’t go back in time and begin investing at 20 if you’re already past that age. But if you want $1 million saved, start working on that goal the minute you can. 

2. Calculate how much to invest each month

Breaking big goals down into small ones is the easiest way to accomplish them. So start from the premise that you want $1 million saved by a specific age, such as 65. Then break this big goal down by determining how much to invest each month to reach your target.

Investor.gov has a savings goal calculator that can help you calculate the requisite monthly contributions based on projected returns and the date you want your $1 million to be available. 

3. Automate retirement account contributions

If you want to be sure you reach your savings goal, you must be consistent with investing your target amount. The best way to do that is to make the process automatic so you don’t have to manually make the decision to invest each month.

If you arrange to have contributions taken directly from your paycheck or to transfer the required amount of money directly from your bank to your brokerage firm each day you get paid, this maximizes the chances that you’ll stick with your plan to become a millionaire retiree. You’ll be far less likely to skip a month of saving if it happens without your intervention. 

4. Build a diversified portfolio

Finally, you’ll want to make sure you’re invested in a good mix of different assets that limit your risk while still giving you the potential to earn reasonable returns. If you’re good at selecting stocks, you can build a diversified portfolio yourself by spreading your money around and buying shares of companies across many industries.

If you don’t know how to choose a good mix of varying investments, diversification is easier with exchange traded funds (ETFs). You can select an ETF that gives you exposure to 500 of the largest US companies across all different fields by buying an S&P 500 index fund. Or you can buy several ETFs, including one investing in small companies, another in large ones, a third in bond funds, a fourth in real estate, and a fifth in emerging markets. 

By following these four steps, you can make certain you’re investing enough and earning generous enough returns that becoming a millionaire retiree is easily within reach.

 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post How to all but clinch a millionaire retirement appeared first on The Motley Fool Australia.

More reading

• How is the Origin Energy share price managing to hit multi-year highs today?
• Aussie Broadband share price rallies: Top broker tips 31% upside
• Here’s why the EMvision share price surged 8% on Wednesday
• Brokers name 3 ASX lithium stocks to buy now
• The Zip share price is plunging 9% today. Here’s why

The Motley Fool has a disclosure policy.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Origin Energy Ltd (ASX: ORG) share price surged to a new post-pandemic high today despite the company’s silence.

Making its gains more impressive, the broader market is trading lower this afternoon. Origin Energy’s home sector – the S&P/ASX 200 Utilities Index (ASX: XUJ) – is also in the red.

At the time of writing, the Origin Energy share price is $6.93, 0.29% higher than its previous close.

However, it reached a new multi-year high of $7.08 earlier today, representing a 2.46% gain.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently 0.09% lower.

Let’s take a closer look at what’s going on with Origin Energy and its utility peers on Wednesday.

What’s boosting the Origin share price today?

The Origin Energy share price is in the green alongside some of its ASX 200 peers today.

Of the ASX 200’s 11 sectors, only four are currently trading in the green.

Sadly, the ASX 200 utilities sector isn’t among them. It’s recording a 0.14% slip right now.

The index’s other constituents are recording a poor performance this afternoon.

The share price of APA Group (ASX: APA) has slumped 0.09%. Meanwhile, that of AGL Energy Limited (ASX: AGL) has fallen 1.2%.

This year so far has been a good one for both the Origin Energy share price and the company’s bottom line.

The energy producer and retailer revealed its revenue for the March quarter had more than doubled year-on-year to surpass $2.5 billion last week. The increase was driven by higher commodity prices amid surging demand.

Right now, Origin Energy’s stock is trading for 29% more than it was at the start of 2022. It has also risen 65% since this time last year.

The post How is the Origin Energy share price managing to hit multi-year highs today? appeared first on The Motley Fool Australia.

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• Are Origin Energy shares really trading on a 3% dividend yield?
• Why is the Origin Energy share price having such a dire day?

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 APA Group. 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 Aussie Broadband Ltd (ASX: ABB) share price is edging into the green this afternoon, reversing the trend of seven consecutive day of losses for the ASX telecom company.

At the time of writing, Aussie Broadband shares are 0.76% higher to $3.99 each. It comes after they fell to as low as $3.66 in morning trade.

While most of the recent string of declines have been modest, that wasn’t the case on Monday.

What happened on Monday?

If you’ve tuned into the financial news this week, you’re likely aware of the 28.1% crash in the Aussie Broadband share price on Monday.

This looks to have been driven by a company update that downgraded a number of key metrics.

Among those, the telco reduced guidance for the number of broadband connections in FY 2022. It also reduced guidance for FY 2022 earnings before interest, taxes, depreciation and amortisation (EBITDA) from the previous forecast of $27 million to $30 million down to $27 million to $28 million.

31% upside tipped for Aussie Broadband share price

Following this week’s slide, there could be some significant gains ahead for the Aussie Broadband shareholders.

That’s according to analysts at Jeffries who upgraded the broker’s rating for the stock from a ‘hold’ to a ‘buy’.

As reported by NABTrade, Jeffries cut its target for the Aussie Broadband share price from $5.60 to $5.00. Still, that’s 31% above the current price.

With broadband connections facing headwinds, Jeffries said the company will find growth more difficult to achieve. Aussie Broadband’s recent acquisition of Over The Wire could assist in that growth, but the broker doesn’t expect to see a material impact from that for 18 months.

Jeffries cut its forecast for total broadband subscriptions from the previous 595,000 down to 586,000.

Aussie Broadband share price snapshot

Despite this week’s sharp selloff, the Aussie Broadband shares remain up 33% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) has gained 3% over the 12 months.

The post Aussie Broadband share price rallies: Top broker tips 31% upside appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband 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 EMvision Medical Devices Ltd (ASX: EMV) share price has emerged from a trading halt on Wednesday morning, and shot 8% into the green.

Prior to their halt, EMVision shares closed at $1.94. Upon returning to trade, they have been sitting in the green amid the release of a company announcement. At the time of writing, EMvision shares are swapping hands at $2.05.

What did EMVision announce?

The company advised it has entered into an original equipment manufacturer (OEM) agreement with Keysight Technologies Inc (NYSE: KEYS).

According to the release, “Keysight is the world leader in radiofrequency (RF) test and measurement technology”. Specifically, the company signed its agreement with Keysight’s Australian subsidiary.

Under the agreement, EMvision will receive exclusive supply for ‘fast sweep’ features in the vector network analyser (VNA).

For reference, EMvision says the VNA is a custom solution developed in collaboration with Keysight.

“The VNA is a high performance, lower component count, miniaturised module responsible for accurate signal measurement,” states the release.

“The custom VNA represents a strategic investment by Keysight into the electromagnetic imaging sector.”

Regarding the announcement, EMvision CEO Dr Ron Weinberger says the collaboration “has been first class”.

This Agreement recognises the roles that both parties have played in the development of the bespoke VNA over a period of 3 years. I would like to thank the Keysight team for their concerted work in developing a best-of-breed solution for EMvision and look forward to the commercial phase of our relationship.

Noteworthy is that Keysight is not a medical device manufacturer. However, it does possess “the strongest portfolio of Vector Network Analysers (VNA), which are core to the sensors that are being used inside EMvision’s portable brain scanner,” says the company.

The agreement builds on a relationship that spawned back in 2019. Then, the pair entered into a strategic collaboration to develop “custom healthcare-focused VNA solutions”.

EMvision share price snapshot

In the last 12 months the EMvision share price has fallen more than 38%. Meanwhile, it is 23.5% in the red since trading resumed this year.

Following this announcement, shares have bounced from a low point and are tracking back towards monthly highs.

The post Here’s why the EMvision share price surged 8% on Wednesday appeared first on The Motley Fool Australia.

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• The Zip share price is plunging 9% today. Here’s why
• What is the Vanguard Diversified High Growth Index ETF invested in?
• Here’s why the ARB Corporation share price is plunging 10% today
• Here’s why the Peppermint Innovation share price is flying higher 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 positions in and has recommended EMvision Medical Devices Limited. 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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With electric vehicle and renewable energy adoption growing rapidly, demand for battery materials has been insatiable. This has led to sky high prices for lithium, which bodes well for the ASX lithium stocks listed below.

And while their shares have been on fire over the last 12 months, the good news is that analysts don’t believe it is too late to invest. Here’s what they are saying about these buy-rated lithium stocks:

Allkem Ltd (ASX: AKE)

The first ASX lithium stock to look at is Allkem. It is a lithium giant which owns a collection of world class operations and projects across Western Australia, Argentina, and Canada. Unlike the many explorers on the ASX, Allkem is already benefiting from sky high prices for lithium. In fact, after a big rise in prices during the March quarter, Allkem expects even stronger pricing in the June quarter. It is forecasting an average of US$5,000 per dry metric tonne of spodumene concentrate and US$35,000 per tonne for its lithium carbonate.

Morgans is very bullish on Allkem. It currently has an add rating and $14.83 price target on its shares.

Lake Resources N.L. (ASX: LKE)

Another ASX lithium stock that analysts rate as a buy is Lake Resources. It is developing the Kachi lithium brine project in north-western Argentina near one of Allkem’s operations. This project is aiming to deliver base case production of 50,000 tonnes of lithium carbonate once operational. After which, the company is aiming to take group annual production to 100,000 tonnes by 2030. For now, Lake has signed away all of its initial 50,000 tonnes of lithium product offtake to Hanwa and Ford.

Bell Potter is positive on the company and has a speculative buy rating and $2.83 price target on its shares.

Mineral Resources Limited (ASX: MIN)

A third ASX lithium stock for investors to look at is Mineral Resources. It has exposure to lithium through its Mt Marion Lithium Project and Wodgina Lithium Project. The latter is one of the largest known hard rock lithium deposits in the world with a production life of over 30 years.

Goldman Sachs is very positive on the company’s outlook and is forecasting a more than doubling of group EBITDA to over A$2bn in FY 2023 thanks largely to higher lithium prices. Its analysts currently have a buy rating and $73.80 price target on the company’s shares.

The post Brokers name 3 ASX lithium stocks to buy now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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It’s been another bumpy day for ASX shares so far this Wednesday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is down by a paltry 0.06% after spending most of the morning in green territory. But the Zip Co Ltd (ASX: ZIP) share price hasn’t been nearly as fortunate.

As it currently stands, Zip shares are down by a rather horrible 9.35% at just $1.05 a share. That’s just a whisker off of the company’s 52-week low of $1.

This latest plunge now means the ASX’s largest buy now, pay later (BNPL) share has lost a staggering 75.8% over 2022 thus far.

So what’s causing Zip’s decisive plunge today?

Zip share price plunges amid escrow release

Well, it’s likely to be the ASX announcement the company put out this morning before market open. In this announcement, Zip informed investors that a large volume of shares will be steadily released from voluntary escrow. This will all occur over the next month or so.

Around 7.46 million shares will be released on 12 May. Following this, another 1.5 million or so shares will leave escrow on 23 May. The final tranche of 13.2 million shares is to be released on 1 June.

These tranches of shares correspond to the scrip the company paid for the acquisitions of Twisto Payments, Spotii Holdings and QuadPay Inc respectively.

So it’s very possible that investors are worried that the release of such a large volume of shares will result in a sustained period of selling pressure on the Zip share price. After all, Zip has fallen by such a large margin over 2022 thus far. As such, there’s a fair chance that many of the investors holding these shares will opt to cash them out once they are out of escrow.

So this could be why the Zip share price is plunging today. 

At the current Zip share price, this ASX BNPL share has a market capitalisation of $791.47 million. 

The post The Zip share price is plunging 9% today. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 ZIPCOLTD 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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ASX exchange-traded fund (ETF) provider Vanguard has many popular ETF products on the ASX that are relatively well known. Take the Vanguard Australian Shares Index ETF (ASX: VAS). It is by far the most popular index fund on the ASX. But a lesser-known fund is the Vanguard Diversified High Growth Index ETF (ASX: VDHG).

This ETF currently has just $1.72 billion in funds under management, which is vastly below that of VAS. VAS is sitting at around $10 billion right now. But VDHG is a rather special ETF, so let’s dig into why.

The Vanguard Diversified High Growth Index ETF is a little different to your classic index fund. Whereas an ETF like VAS tracks an index and holds ASX shares within its portfolio, VDHG does neither. It instead functions as an ‘ETF of ETFs’. It includes positions in a number of other Vanguard ETFs to give investors massive diversification.

What exactly does the VDHG ETF invest in?

Let’s break it down. So as it currently stands, 35.9% of VDHG’s portfolio is invested in the Vanguard Australian Index Fund (wholesale), which is essentially an unlisted version of VAS.

Another 26.5% of the fund resides with the Vanguard International Shares Index Fund, with another 16.2% in the version of this fund hedged to Australian dollars.

Then we have a 7.1% allocation to the Vanguard Global Aggregate Bond Index Fund. A further 6.2% goes to the Vanguard International Small Companies Index Fund.

Rounding out the portfolio, we have a 5% weighting to the Vanguard Emerging Markets Shares Index Fund and a 3.1% dedicated to the Vanguard Australian Fixed Interest Index Fund.

So VDHG can be thought of as a mix of various other Vanguard ETFs, all in one investment. It’s a ‘high growth’ fund because this particular ETF has high weightings to ‘risky’ asset classes like small companies and emerging markets, and low weightings to ‘safe’ assets like fixed interest and bond investments.

Vanguard provides other ETFs in this ilk that reverse this weighting. For instance, the Vanguard Diversified Conservative Index ETF (ASX: VDCO) invests in similar underlying investments. But it instead gives far more weight to the bond and fixed interest investments, and less to shares, than VDHG.

So that’s how the Vanguard Diversified High Growth Index ETF puts money to work on its investors’ behalf. VDHG charges a management fee of 0.27% per annum.

The post What is the Vanguard Diversified High Growth Index ETF invested in? appeared first on The Motley Fool Australia.

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• Own the Vanguard Australian Shares High Yield ETF? Here’s what you’re invested in
• Is the Vanguard Australian Shares ETF a good buy at current prices?
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Motley Fool contributor Sebastian Bowen 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 ARB Corporation Limited (ASX: ARB) share price is tumbling on the release of a trading update.

The S&P/ASX 200 Index (ASX: XJO) company outlined its performance for the financial year to date as of 31 March this morning to the apparent disappointment of the market.

At the time of writing, the ARB share price is $33.75, 10.82% lower than its previous close.

Let’s take a look at today’s news from the 4X4 accessories manufacturer and distributor.

What’s weighing on ARB’s stock today?

The ARB share price is in the red after the company updated the market on its performance for the financial year so far. And while its revenue appears to be strong, it’s battling numerous challenges.

ARB is struggling against commodity prices and shortfalls, a global shortage of new vehicles, global logistics and pricing, a labour and skills shortage, and exchange rate volatility.

Despite such trials, the company is expecting to report approximately $700 million of revenue for financial year 2022. That’s nearly 12% more than it brought in last financial year.

Though, its expenses are also forecast to increase. It’s expecting to report expenditure of $57 million this financial year – up from $33.1 million in financial year 2021.

That’s been boosted by costs associated with its factories, as well as upgrades to its retail stores and manufacturing equipment.

Back to more positive news, ARB’s sales revenue has increased 18% over the 9 months ended 31 March compared to the same period of 2021.

It reached $525 million over that time frame, driven by a 28.4% increase in revenue from ARB’s exports market.

The ARB share price might also be suffering on news its Australian new vehicle sales have remained lower than pre-pandemic levels.

Additionally, sales of Toyota Landcruiser wagons – previously one of the company’s most popular vehicles ­– fell considerably. ARB states the drop was due to the changeover from the model’s 200 series to the 300 series.

Still, the company states that its order book remains high, it’s increased its inventory levels to protect against extended lead times, and impacts from new vehicle models haven’t flowed through yet.

ARB also noted it’s working on emerging partnerships with major customers and the development of new products.

ARB share price snapshot

The ARB share price has been struggling in 2022.

Today’s slump included, it has fallen 38% since the start of the year. It’s also 10% lower than it was this time last year.

The post Here’s why the ARB Corporation share price is plunging 10% today appeared first on The Motley Fool Australia.

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• Hoping to pocket the ARB Corporation dividend? Read this

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 recommended ARB Corporation 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 Peppermint Innovation Ltd (ASX: PIL) share price is surging higher today. Today the company emerged from the trading halt it entered on Monday.

At the time of writing, shares in the ASX mobile banking payments provider are up 17.65%. In earlier trade on Wednesday, Peppermint Innovation shares posted gains of more than 23%.

So, what’s piquing investor interest?

What’s this about an electronic money issuer license?

The Peppermint Innovation share price is leaping higher today after the company reported the Central Bank of the Philippines, Bangko Sentral ng Pilipinas, had granted it a license to operate as an electronic money issuer (EMI).

The EMI licence allows Peppermint to deliver e-wallet services through its Bizmoto mobile app. This will enable any Filipino to use its Bizmoto platform to receive digital money and access digital services.

According to the release, some 39 million Filipinos are transacting digitally.

The company said it plans to reach out to farmers, fishermen and entrepreneurs, along with Filipinos living on day-to-day pay cheques. Via Bizmoto they’ll have faster digital access to their salaries, pensions, and any other payments they’re entitled to.

Commenting on the EMI license, Peppermint Innovation CEO Chris Kain said, “We always said one of our operational objectives was to obtain an EMI licence and we’ve now achieved that milestone.”

According to Kain:

The issuance of an EMI licence for Peppermint will, ultimately, deliver significant value to the company and to the communities we operate in. Clearly, the digital revolution is with us and the Bizmoto platform can now facilitate any e-money transaction and service open-loop e-wallet accounts, providing Filipinos with a convenient and secure way to receive digital money and services.

The Peppermint Innovation share price could also be getting a lift from projections by the Central Bank of the Philippines. The bank forecasts that 50% of all retail transactions in the Philippines will be digital by 2023. Further, the central bank believes that 70% of Filipino adults will have formal accounts by next year.

Peppermint Innovation share price snapshot

The Peppermint Innovation share price is up 85% in 2022. That compares to a 4% year-to-date loss posted by the All Ordinaries Index (ASX: XAO).

Peppermint Innovation is a microcap ASX share subject to big share price swings. It has a market cap of $34 million.

The post Here’s why the Peppermint Innovation share price is flying higher today appeared first on The Motley Fool Australia.

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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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