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The Qantas Airways Ltd (ASX: QAN) share price finished lower on Friday but is still taking flight this year.

At the close of trading yesterday, the airline’s shares were down 1.48% at $5.31. For comparison, the benchmark S&P/ASX 200 Index (ASX: XJO) was down 1.02%.

Despite the slip, the Qantas share price remains up 6% since the closing bell on 31 December. That compares to a loss of around 3% posted by the ASX 200 so far in 2022.

The Flying Kangaroo has benefited from the reopening of domestic borders as COVID restrictions are rolled back, with Western Australia the remaining laggard.

Investors have also been bidding up the Qantas share price with an eye on the return of international air travel, slated to occur this Monday, 21 February.

But after trouncing the ASX 200 performance this year, is that Qantas share price still good value?

For some insight into that question, we turn to Shaw and Partners senior investment advisor Adam Dawes.

Jam-packed domestic flights

Qantas was among a small basket of ASX shares that Dawes said he’d buy today for a nice return over the coming months.

Despite the fast spread of the Omicron variant Down Under, Dawes said this hasn’t really dissuaded air travel. “I took a plane ride last week for the first time in 2 years. And let me tell you, these planes are absolutely jam-packed,” he said, adding, “I’m thinking Qantas is a good value play at the moment.”

Now the Aussie government is working towards “living with the virus”, Dawes believes the company’s domestic travel market could see the Qantas share price perform well.

“The stock has been beaten around but they’ve come out of it — they’ve reduced costs, their labour figures are okay,” he said.

A fly in the ointment for the airline is fast rising jet fuel costs. But according to Dawes, this is having a bigger impact on rival airline, Virgin. “Oil is probably a bit of a concern for the input costs,” he said. “But really they’ve left Virgin battered and bruised.”

Qantas also recently announced it would be building a new jet base in Darwin. It will see E190 jets servicing QantasLink routes and a new commercial route between Darwin and Dili.

Qantas share price snapshot

Qantas shares are up almost 14% over the past 12 months, outpacing the 5% gains posted by the ASX 200 over that same time.

Despite rebounding strongly following the initial pandemic-fuelled panic selling, the Qantas share price remains down 25% since the beginning of 2020.

Traditionally a reliable ASX dividend share, Qantas last paid a dividend in September 2019.

The post Up 6% this year, why the Qantas (ASX:QAN) share price is still a ‘good value play’ today: expert appeared first on The Motley Fool Australia.

More reading

• Own Qantas (ASX:QAN) shares? Here’s how Rex plans to turn up the heat
• 3 ASX shares to buy before the market rockets up again
• Why are ASX travel shares taking flight today?
• Border drama: Qantas (ASX:QAN) faces continued challenges on ‘kangaroo route’
• Qantas (ASX:QAN) share price slips amid Bonza plans to launch ‘something very different to the market’

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 Bruce Jackson.

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There has been a lot of volatility this year. Is the ASX share market currently in a correction?

Firstly, let’s talk about what a correction actually is.

What is an ASX share market correction?

A correction relates to the share market falling. For the ASX, this typically might refer to the S&P/ASX 200 Index (ASX: XJO) dropping in value.

A bear market – which isn’t a market where people buy bears – is seen as a bigger and longer decline of the market than a correction.

Motley Fool Australia has a number of handy guides and investing definitions on our website. The difference between a correction and a bear market is defined as this:

A ‘market correction’ is like a bear market but less severe. The technical definition is about a 10% decline in share prices in less than two months.

The idea behind a correction is that because prices rose higher than they should have, falling prices serve the purpose of ‘correcting’ the situation.

One major difference between a bear market and a market correction is the extent to which prices fall. Bear markets occur when share prices drop by 20% or more, whereas corrections typically involve price drops of about 10%.

Furthermore, market corrections tend to last less than two months, whereas bear markets last two months or longer.

Has there been an ASX share market correction?

Between 4 January 2022 and today, the ASX 200 has fallen almost 5%.

However, between 4 January 2022 and 27 January 2022, there was a decline of approximately 10%. But since that bottom, the ASX 200 has risen 5.6%.

Whilst the ASX share market as a whole has recovered some of the lost ground in the correction, there are others that are still ‘corrected’. A few remain more than 20% lower than the start of the year.

For example, the Xero Limited (ASX: XRO) share price is down around 30% since the start of 2022.

The Altium Limited (ASX: ALU) share price is down 23%.

The WiseTech Global Ltd (ASX: WTC) share price has fallen 24%.

Another example is the REA Group Limited (ASX: REA) share price being down 22%.

Why has volatility increased?

There has been a lot of talk about inflation and interest rates.

Interest rates can have a very important impact on asset values. As Warren Buffett once said at a Berkshire Hathaway annual general meeting:

The value of every business, the value of a farm, the value of an apartment house, the value of any economic asset, is 100% sensitive to interest rates because all you are doing in investing is transferring some money to somebody now in exchange for what you expect the stream of money to be, to come in over a period of time, and the higher interest rates are the less that present value is going to be. So every business by its nature … its intrinsic valuation is 100% sensitive to interest rates.

Rudi Filapek-Vandyck wrote on Livewire about what’s happening to the ASX share market:

The change in inflation forecasts over the past five weeks has been nothing short of dramatic… markets are now considering the idea that the Federal Reserve might have waited too long, and will be forced to step on the monetary brakes through accelerated actions. It is this change in projections that is currently feeding into volatility and uncertainty in markets.

In Australia, the general shift is to pull forward the first RBA rate hike to November or August this year.

In the US, forecasts have literally gone into overdrive with all kinds of scenarios being considered, including starting the cycle with 50bp, hiking at every meeting this year, having rate hikes in between meetings, and continuing at full force throughout 2023.

Time will tell what happens next with the ASX share market.

The post What exactly is a share market ‘correction’ and is the ASX in one now? appeared first on The Motley Fool Australia.

More reading

• These were the worst performers on the ASX 200 last week
• Here are the top 10 ASX shares today
• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• This is how long the average investor holds onto their shares
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Tristan Harrison owns Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium, WiseTech Global, and Xero. The Motley Fool Australia owns and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) continued its winning run last week with a small gain. The benchmark index rose 0.1% over the period to end it at 7,221.7 points.

Unfortunately, not all shares were able to climb higher with the market last week. Here’s why these were the worst performers on the ASX 200:

Hub24 Ltd (ASX: HUB)

The Hub24 share price was the worst performer on the ASX 200 last week with a decline of 13.3%. This was despite the investment platform provider completing its acquisition of SMSF software company Class. This appears to have been overshadowed by an underwhelming half year result from rival Netwealth Group Ltd (ASX: NWL).

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price wasn’t far behind with a decline of 13.1% over the five days. This was driven by a softer than expected half year update and weakness in the iron ore price. The latter was driven by Chinese regulators that are aiming to cool the iron ore rally. They certainly achieved their goal, with prices tumbling so much they fell into a bear market. This also impacted the Mineral Resources Limited (ASX: MIN) share price, which dropped 10.2% last week.

EML Payments Ltd (ASX: EML)

The EML Payments share price was out of form and fell 10.2% over the period. This follows the release of a half year result which fell short of expectations on the top line due to Omicron impacts during the holiday shopping period. However, management did reiterate its full year guidance despite this.

Zip Co Ltd (ASX: Z1P)

The Zip share price continued its poor run and dropped a further 9.8%. This means the buy now pay later (BNPL) provider’s shares have now lost almost 80% of their value over the last 12 months. Last week’s weakness appears to have been driven by regulatory concerns and further weakness in the shares of global players such as Affirm.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• What’s going so wrong for ASX BNPL shares this week?
• Why Fortescue, Goodman, Inghams, and QBE shares are dropping
• The ASX 200 is awash with 52-week lows on Friday. Here are some of the biggest names growing smaller
• What is a supercycle and are ASX 200 mining shares at the start of one?

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. owns and has recommended EML Payments, Hub24 Ltd, Netwealth, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended EML Payments and Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Australia’s leading investment experts are always on the lookout for ASX dividend share opportunities that look like they’re good value.

Some businesses are considered as ASX growth shares, like Xero Limited (ASX: XRO) and Altium Limited (ASX: ALU).

However, there are a handful of businesses that are both buy-rated and offer a good potential yield. Here are two of them:

DEXUS Property Group (ASX: DXS)

Dexus describes itself as Australia’s leading fully integrated real estate group, managing a portfolio of Australian property worth $45.3 billion. It directly owns $18.3 billion of office, industrial and healthcare properties.

The ASX dividend share says that its $17.8 billion pipeline provides the opportunity to grow both portfolios and enhance future returns.

Dexus says that it’s benefiting from key megatrends of urbanisation, technology advances and the growth in pension capital flows. Management thinks the business is well-positioned to continue to leverage these trends to support investor returns.

Its goal is to deliver superior risk-adjusted returns from high-quality real estate and seek opportunities that can deliver sustainable income while growing and diversifying the funds management business.

Valuation gains across the total property portfolio for the period to 31 December 2021 helped the 3.1% increase in the net tangible asset (NTA) per security to $11.77.

It’s currently rated as a buy by the broker Morgan Stanley with a price target of $12.57. The broker is expecting Dexus is going to pay a yield of 5% in FY22.

Fletcher Building Limited (ASX: FBU)

Fletcher Building is a manufacturer, home builder, and partner on major construction and infrastructure projects. It has a significant presence in New Zealand but it also has operations in Australia and the South Pacific.

The ASX dividend share recently revealed its FY22 half-year result which saw another period of growth.

Revenue increased 2% to $4.06 billion. Earnings before interest and tax (EBIT) went up 3% to $332 million. Net profit after tax (NPAT) jumped 41% to $171 million.

The second-quarter EBIT was $264 million, up 73% year on year. This offset COVID-19 lockdown impacts of around $105 million of EBIT in the first quarter.

Fletcher Building is expecting the FY22 second half to be “very solid” with forward indicators pointing to continuing volumes.

Beyond this financial year, Fletcher Building thinks it’s very well positioned to drive growth. In New Zealand, it’s investing in its increased manufacturing capacity and driving product and market growth.

In FY23, it’s expecting to further improve BIT margins across the group to 10% in FY23. It has a maturing pipeline of investments that will keep driving growth beyond FY23, according to the company.

Credit Suisse rates Fletcher Building as a buy, with a price target of $9.30. It’s expecting that in FY22, the ASX dividend share will have a yield of 6%.

The post 2 ASX dividend shares to buy this month: experts appeared first on The Motley Fool Australia.

More reading

• Return to the office: Did this decision help boost ASX 200 property shares today?
• Why Dexus, JB Hi-Fi, Seek, and Sims shares are climbing today
• Profit up 82%: Dexus (ASX:DXS) share price steady on active half year results
• Here are the latest broker updates from Macquarie. It’s not all pretty for ASX shares.

Motley Fool contributor Tristan Harrison owns Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium and Xero. The Motley Fool Australia owns and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re a fan of growth shares, then you may want to look closely at the two shares listed below.

Here’s why these could be growth shares to buy:

Altium Limited (ASX: ALU)

The first growth share for investors to consider buying is Altium. It is an electronic design software provider behind the Altium 365 and Altium Designer platforms. These platforms are the leaders in their field and are now aiming to dominate their market. A testament to their quality is that they are used by companies such as Tesla, BAE Systems, Amazon, Facebook, and Dell.

And given the way the Internet of Things (IoT) and AI markets are underpinning an explosion of electronic devices globally, demand for electronic design software is expected to continue to grow at a strong rate for a long time to come. This bodes well for Altium thanks to its leadership position.

The team at Bell Potter is bullish on Altium and believes it could outperform its guidance in FY 2022. It currently has a buy rating and $40.00 price target on the company’s shares.

Megaport Ltd (ASX: MP1)

Another ASX growth share that could be in the buy zone is this leading cloud connectivity and networking solutions provider.

Megaport has been growing at a solid rate for a number of years. This has been driven by its first mover advantage in a market benefiting from two long-term structural tailwinds. These are the adoption of public cloud (and multi-cloud usage) and the transition towards Networking as a Service (NaaS).

The good news is that these structural tailwinds will be blowing for some time to come, giving Megaport a significant market opportunity to grow into. In fact, the team at Goldman Sachs notes that it has exposure to $129 billion per annum spent on fixed enterprise networking across its current geographies.

It is for this reason that the broker recently initiated coverage on Megaport with a buy rating and $20.00 price target.

The post 2 buy-rated ASX growth shares with big futures appeared first on The Motley Fool Australia.

More reading

• Own Altium (ASX:ALU) shares? Here’s what to expect from its half year results
• Are ASX growth shares still worth holding in 2022?
• 2 quality ASX 200 tech shares with ‘years of growth’ ahead: broker
• Goldman Sachs names 2 ASX 200 shares with major upside potential
• 2 ASX tech shares we’re backing through the turmoil: analysts

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. owns and has recommended Altium and MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AMP Ltd (ASX: AMP) share price was in the green today amid news of a potential buyer for its capital arm.

The wealth management company’s shares finished the day at $1.02, a 1.49% gain.

Let’s take a look at what is happening at AMP.

Potential buyer for demerged brand

Singapore-based real estate company CapitaLand is looking at buying AMP’s Capital Private Markets business, The Australian reported.

CapitaLand is one of the biggest diversified real estate groups in Asia. The company’s influence spans more than 250 cities in over 30 countries. While its largest markets are in Singapore and China, it is also looking to expand to Australia, Europe, and the United States.

EIG is also reportedly looking into AMP’s capital spin-off with the help of JP Morgan. If EIG took over the management rights of the demerged business’s infrastructure funds, an Australian-listed real estate trust could look after the property funds.

As my Foolish colleague Bernd reported this week, AMP is planning to demerge AMP Capital Private Markets into a standalone business. In the company’s FY21 full-year results reported last week, AMP indicated the demerger is on track for completion within the first half of this year.

The new business will be known as Collimate Capital. The leadership team for this spin-off has already been established and it is due to list on the ASX in the second half of this year.

AMP reported an underlying net profit after tax (NPAT) of $356 million in FY21, a 53% boost on FY20. However, it also reported a statutory NPAT loss of $252 million.

AMP share price snapshot

The AMP share price has climbed about 1% year to date but has fallen more than 24% in the past 12 months.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the last year.

AMP has a massive market capitalisation of around $67 billion based on today’s share price.

The post AMP (ASX:AMP) share price lifts as new suitor for capital arm emerges appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Here’s why AMP (ASX:AMP) shares are set for a transformation
• Top brokers name 3 ASX shares to sell next week
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, AVZ, Megaport, and NAB shares are pushing higher

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 Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) finished the week on a sour note as investors shied away from risk assets amid the Ukraine-Russia standoff. At the end of the session, the benchmark index finished 1.02% lower at 7,221.7 points.

Not a single sector in the green could be found on Friday afternoon. The best of the disastrous bunch were materials, benefiting from an influx of buying across gold miners. Still, the materials sector finished 0.17% lower, carrying the weight of underperforming iron ore producers. Meanwhile, the worst of the damage could be seen across the healthcare and tech sectors.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Magellan Financial Group Ltd (ASX: MFG) was the biggest gainer today. Shares in the funds management company took flight, soaring 18.45% after reporting a better than expected first-half result. Find out more about Magellan Financial Group here.

The next biggest gaining ASX share today was Netwealth Group Ltd (ASX: NWL). The financial platform provider rallied 5.71% despite there being no announcements released today. Although, the company experienced a substantial fall in its share price two days earlier on its own half-year figures. Uncover the latest Netwealth Group details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Magellan Financial Group Ltd (ASX: MFG)	$21.70	18.45%
Netwealth Group Ltd (ASX: NWL)	$14.06	5.71%
Whitehaven Coal Ltd (ASX: WHC)	$3.14	3.97%
Yancoal Australia Ltd (ASX: YAL)	$3.34	2.45%
Latitude Group Holdings Ltd (ASX: LFS)	$2.04	2.26%
Newcrest Mining Ltd (ASX: NCM)	$24.36	2.14%
Mercury NZ Ltd (ASX: MCY)	$5.66	1.98%
AVZ Minerals Ltd (ASX: AVZ)	$0.805	1.90%
GPT Group (ASX: GPT)	$4.95	1.85%
Uniti Group Ltd (ASX: UWL)	$3.89	1.83%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• This is how long the average investor holds onto their shares
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• 2 ASX dividend shares with BIG yields

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Netwealth. The Motley Fool Australia owns and has recommended Netwealth. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Thursday night to discuss the latest unemployment numbers, tensions in Ukraine, and disappointing results for the Telstra Corporation Ltd (ASX: TLS) and Wesfarmers Ltd (AS X:WES) share price.

The post Telstra, Wesfarmers, oil and unemployment: Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• Why ‘dependable and reliable dividend payers’ could be the antidote to current volatility: expert
• Brokers name 3 ASX shares to buy today
• Are TPG Telecom (ASX:TPG) shares gearing up for a demerger?
• Own Wesfarmers (ASX:WES) shares? Here’s all you need to know about the latest dividend
• Brokers give their verdict on the Telstra (ASX:TLS) share price post-results

Motley Fool contributor Scott Phillips owns Telstra Corporation 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 owns and has recommended Telstra Corporation Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Although it has pulled back on Friday, the Woodside Petroleum Limited (ASX: WPL) share price has been on fire in 2022.

Since the start of the year, the energy producer’s shares have risen over 20%.

Can the Woodside share price keep rising?

The good news for investors is that one leading broker still believes the Woodside share price can rise further.

According to a note out of Morgans, this morning the broker has retained its add rating and put a $30.35 price target on its shares. Based on the current Woodside share price, this implies potential upside of 10% for investors over the next 12 months.

In addition, the broker is expecting a $1.29 per share dividend in FY 2022. If you include this, the total potential return increases to an even more attractive 15%.

What did the broker say?

Morgans was impressed with Woodside’s full year results, which came in well ahead of its expectations.

It commented: “WPL posted FY21 underlying NPAT of US$1,620m (+262% pcp), close to our estimate of US$1,568m but beat consensus of US$1,412m by a handsome +18%.”

But the real reason the broker is bullish on Woodside is its impending merger with the petroleum assets of BHP Group Ltd (ASX: BHP).

The broker explained: “While merger completion is still ~4 months away, we maintain the conviction view that this transformative deal will vastly enhance WPL’s fundamentals and represents material valuation upside risk to current consensus. It will be interesting to see how quickly WPL sinks its teeth into BHP’s growth assets, especially with its large Trion field in the southern Gulf of Mexico due for FID around mid-2022.”

And while Morgans notes that the Woodside share price has risen strongly this year, it still sees room for it to keep rising. In fact, it suspects it could even go beyond its price target.

Morgans concludes: “The recent rise in WPL’s share price has, in our view, been the unfolding of a ‘catch up’ re-rating. Something we have been expecting since WPL/BHP announced the merger and Brent oil pushed through $80/bbl. We expect WPL to make further ground on our $30.35 target price, which still faces further upside risks as the merger progresses and upcycle extends. We maintain our Add rating.”

The post Broker says Woodside (ASX:WPL) share price can keep rising appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• 3 ASX 200 shares hitting 52-week highs today
• ASX 200 energy shares to become ‘cash machines’: broker
• Why Challenger, CSL, NRW, and Woodside shares are pushing higher
• ASX 200 (ASX:XJO) midday update: Telstra, Wesfarmers, and Woodside report

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 Bruce Jackson.

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In late trade, the S&P/ASX 200 Index (ASX: XJO) is ending the week on a disappointing note. At the time of writing, the benchmark index is down 0.6% to 7,252.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3% to $19.90. Investors have been selling this mining giant’s shares since the release of its half year results. Unfortunately, the team at Goldman Sachs believe the company’s shares could continue to slide. Its analysts have put a sell rating and $14.70 price target on its shares.

Goodman Group (ASX: GMG)

The Goodman share price is down 3.5% to $23.17. This decline may have been driven by a broker note out of Ord Minnett. According to the note, the broker has downgraded the integrated property company’s shares to a hold rating with a $25.00 price target. Its analysts made the move on valuation grounds.

Inghams Group Ltd (ASX: ING)

The Inghams share price is down 5% to $3.36. This follows the release of the poultry company’s half year results. For the six months ended 31 December, Inghams reported a 5.9% increase in underlying net profit after tax to $39.7 million. This fell short of the consensus estimate of a net profit of $41.9 million.

QBE Australia Group Ltd (ASX: QBE)

The QBE share price is down over 8% to $11.59. Investors have been selling the insurance giant’s shares after its full year results fell short of expectations. For the 12 months ended 31 December, QBE delivered a 25.7% increase in gross written premium to US$18,453 million and an adjusted net cash profit after tax of US$805 million. The latter was short of the market consensus estimate of US$870 million.

The post Why Fortescue, Goodman, Inghams, and QBE shares are dropping appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• What is a supercycle and are ASX 200 mining shares at the start of one?
• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• Inghams (ASX:ING) share price slumps 5% amid continued COVID impacts
• QBE (ASX:QBE) share price sinks 9% on FY21 earnings miss

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 Bruce Jackson.

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