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The Aurizon Holdings Ltd (ASX: AZJ) share price has struggled through 2021 and one expert is predicting it might be in for more trouble in the new year.

The rail freight operator moves around half the country’s coal exports. It hauled 202 million tonnes of the commodity in financial year 2021.

But with big banks turning away from coal, the head of Australian equities at Tyndall, Brad Potter, believes the cost of capital could soon increase for the haulage company.

At the time of writing, the Aurizon share price is $3.44, 0.15% higher than its previous close. For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.21% right now.

Let’s take a look at Potter’s prediction for the future of the rail freight operator’s shares.

Aurizon share price could suffer alongside coal in 2022

Potter recently told Livewire he believes the coal industry will begin to struggle in the coming years, and Aurizon won’t be immune to the pain.

Livewire quoted Potter as saying:

In our view, companies such as Aurizon Holdings that own and operate coal haulage operations in both Queensland and New South Wales are likely to have availability of funding reduced, and they are also likely to find asset owners excluding them from their investable universe.

Even if Aurizon manages to dodge the potential carnage, a spin away from the commodity by super funds will likely reduce the availability of equity.

Additionally, Potter said Australian banks are beginning to turn their backs on coal, potentially leaving companies digging for the black rock looking internationally for funding.

Challenges for coal producers could impact the Aurizon share price as the company’s income is largely dependent on the commodity. In its most recent financial year results, it reported a drop in volumes across its coal network substantially impacted its finances.

The Aurizon share price has been suffering lately. It has fallen around 12% since the start of 2021. However, it has gained around 2% over the past month.

The post Could the Aurizon (ASX:AZJ) share price be in for more pain in 2022? appeared first on The Motley Fool Australia.

More reading

• Why has the Aurizon (ASX:AZJ) share price had such a lacklustre start to December?
• Why is the Aurizon (ASX:AZJ) share price hitting 9-year lows today?
• Why has the Aurizon (ASX:AZJ) share price struggled this month?

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 Aurizon Holdings 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 Woolworths Group Ltd (ASX: WOW) share price is up 0.5% in early trading. The CEO of Woolworths is trying to convince Australian Pharmaceutical Industries Ltd (ASX: API) pharmacists to back the proposed takeover.

Woolworths CEO turns on the charm

Woolworths CEO Brad Banducci has written a letter to the pharmacists of API, which was published in the Pharmacy Daily.

It is down to the API board and shareholders that will decide which offer to accept – the one from Woolworths or from Wesfarmers Ltd (ASX: WES). However, both Woolworths and Wesfarmers want to win over the approval of pharmacists because they are key stakeholders.

In that letter, Mr Banducci aimed to “allay misplaced fears” about the company’s intentions.

He said in the letter published on Pharmacy Daily that he understood that pharmacists had concerns about the bid considering the history of “perceived rivalry” between pharmacies and supermarkets. Mr Banducci said that the company will not look to change pharmacy location and ownership rules under his leadership.

Mr Banducci also wrote:

We are not here to disrupt the sector. We are here to help strengthen it. We strongly believe that a strong local community pharmacy health model is key to the health and wellbeing of our local communities and nation overall.

Through our proposal to acquire API, we are committed to helping those in the sector successfully operate their independently owned businesses.

Our investment revolves around bringing a set of capabilities we believe can help strengthen the existing vital role you play in the community for the benefit of both patients and customers.

Pharmacy Daily noted that the Woolworths CEO did not directly address concerns about how it would manage data from the Priceline Sister Club loyalty scheme, though Mr Banducci said the company would use its “extensive experience in areas such as digital, loyalty, payments, analytics and importantly, privacy.”

The battle continues

According to reporting by The Australian, the Wesfarmers boss Rob Scott recently wrote to Trent Twomey, the president of the Pharmacy Guild, saying how it was committed to the community pharmacy model. Wesfarmers thinks it can deliver even better products and services to community pharmacists and Priceline franchisees that will help them be more competitive and create value over time.

Both Wesfarmers and Woolworths have lobbed bids for API. Woolworths’ non-binding proposal is a cash offer of $1.75 per API share, which is $0.20 per share (or 12.9%) higher than the price that was agreed between API and Wesfarmers.

Both of them have outlined they will utilise their powerful logistics and other scale benefits to help API improve.

Woolworths share price snapshot

Over the last month, Woolworths shares have dropped around 5%.

The post Woolworths (ASX:WOW) share price rises as boss courts API pharmacists appeared first on The Motley Fool Australia.

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• Fed up with term deposits? How to get 10% income from ASX shares
• What experts are saying about the Woolworths (ASX:WOW) share price in 2022
• Wesfarmers (ASX:WES) share price rises amid latest push for API
• How will ASX retail shares go in 2022?
• Broker gives its verdict on the Woolworths (ASX:WOW) share price after 8% decline

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended 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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Shares in Magellan Financial Group Ltd (ASX: MFG) were dealt a diabolical blow by the market yesterday.

The ASX-listed investment manager bled nearly a third of its value after announcing the loss of its mandate with UK-based fund manager St James’s Place (SJP). While the client represented only 12% of revenues, the actions of shareholders indicate there’s some concern for a snowball effect.

In early morning trade, Magellan shares are shining a little brighter at $20.39, up 3.5% from yesterday’s closing price.

What is the damage toll from SJP’s exit?

For some shareholders, yesterday’s collapse in Magellan shares on the ASX was overdone. Others are cautious of the potential for more fallout. But, what are the quantifiable measures of the termination?

According to the announcement, the loss of SJP’s mandate will equate to an approximate 6% reduction in revenue for FY22. Interestingly, the Magellan board considered this to be an “immaterial” impact.

In an internal memo, Magellan chair Hamish Douglass shared an optimistic take on the events. Though the loss of the mandate was disappointing for the fund founder, Douglass said, “[We have] a very strong business that is very well diversified.” Unfortunately, these supportive statements did little for ASX-listed Magellan shares yesterday.

Additionally, this is supported by the fund’s largest client now representing around 3% of Magellan’s revenue. However, Macquarie equities analyst Brendan Carrig has run the numbers on what he believes is the possible dent in earnings following SJP’s exit.

According to the analyst, the estimated value of the SJP mandate could have been around $23.3 billion worth of funds. As such, Carrig estimates the damage to net after-tax profits to be $66.5 million. In other words, a reduction of 15% from what it would have been.

For context, Magellan posted earnings of ~$265 million in FY21.

What’s next for ASX-listed Magellan?

Douglass is taking the news in his stride and is already looking at the company’s next steps. In his internal memo, the fund manager said:

We have been closed to new institutional mandates for many years and this will enable us to reopen our global strategy to the institutional market in the years ahead. This will of course take some time.

No doubt the global fund’s manager will be looking to plug the holes in the Magellan ship. From here, the truth of whether the selloff in Magellan shares was overdone will rest upon client actions. If the SJP termination turns out to be a red herring, then investors might look to take advantage.

Conversely, if other exits come to follow, then the Magellan share price could come under further pressure.

The post Magellan (ASX:MFG) shares just lost $1.8b of market cap. What now? appeared first on The Motley Fool Australia.

More reading

• Why Audio Pixels, CIMIC, Magellan, and St Barbara shares are tumbling
• ASX 200 (ASX:XJO) midday update: Magellan shares crash 28%, CIMIC tumbles
• Magellan (ASX:MFG) share price crashes 23% after losing major contract
• 5 things to watch on the ASX 200 on Monday
• The Magellan (ASX:MFG) share price just got halted. What’s going on?

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. 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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The BWX Ltd (ASX: BWX) share price has been a relatively poor performer in 2021.

Since the start of the year, the personal care products company’s shares have risen almost 4% to $4.29.

This compares to a gain of 9.6% by the S&P/ASX 200 Index (ASX: XJO) over the same period.

Where next for the BWX share price?

The good news for investors is that one leading broker believes the BWX share price is primed to leap higher in 2022.

According to a recent note out of Bell Potter, its analysts have picked the Sukin manufacturer as one of their top picks for next year.

Bell Potter has put a buy rating and $6.10 price target on the company’s shares. Which, based on the current BWX share price, implies potential upside of 42% for investors over the next 12 months.

Why is Bell Potter bullish?

The broker notes that BWX has been busy expanding its distribution footprint in the natural beauty and wellness market. So much so, the broker expects the company’s footprint to grow by ~42% year on year in FY 2022.

And while it acknowledges that COVID-19 lockdowns have impacted its retail sales, Bell Potter was pleased to see channels return to normal in November.

All in all, its analysts believe the company is well-placed for the future and see a lot of value in the BWX share price.

Bell Potter commented: “On a look through basis, we believe BWX is well placed to deliver strong Underlying Revenue & EBITDA growth in FY22 (weighted to 2H22) as retail trade normalises and sell-through improves. This should be supported by BWX’s recent acquisition of 51% of Go-to Skincare which is tracking +13% vs. PcP in 1Q22, and manufacturing synergies over the medium term as BWX phases in the use of its purpose built facility in CY22. We believe the market has recently priced in expectations for a soft 1H22, which presents a compelling buying opportunity at current levels.”

The post Top broker tips BWX (BWX) share price to leap 42% in 2022 appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BWX 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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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.

What happened

As the world’s largest cryptocurrency by market capitalization, and still the most influential token in the crypto market, Bitcoin (CRYPTO: BTC) continues to generate a tremendous amount of attention. The direction this token moves on a given day often sets the tone for the entire market. Such appears to be the case today.

As of noon ET, Bitcoin has declined 1.5% over the past 24 hours. This move has coincided with an overall market decline of 2.7% over this same time frame. While Bitcoin has seen smaller declines than many of the higher-risk altcoins today, investors appear to be pointing to trading volumes and a relatively high concentration of Bitcoin being held by a few individuals as reasons to be cautious today.

So what

Volume is an interesting metric to follow, both in the crypto market and stock market. Investors and traders alike tend to want to know what’s driving various moves, and volume can provide some insight into the shorter-term price action of a given asset. In the case of Bitcoin, various significant sell-offs in recent years have been tied to mass selling. The good news: We haven’t seen a significant volume spike coinciding with a major decline this year. However, should volumes pick up, and this sell-off continue, a momentum-driven move to the downside could incite more selling than Bitcoin bulls would like to see.

Additionally, a report from The National Bureau of Economic Research has some investors on edge today. This report suggests that a very small fraction (0.01%) of all Bitcoin holders control 27% of the supply of this top cryptocurrency. Concentrated ownership of any asset provides increased risk for those holding smaller stakes. In the case of crypto, these risks are amplified, as it’s impossible to know for sure who owns these tokens, and what their intentions are with respect to holding these tokens long-term.

Now what

It’s worth noting that Bitcoin is still up significantly on a year-to-date basis. This token is up approximately 60% since the beginning of the year, outpacing the returns of the stock market and providing investors with a tangible diversification thesis to own this token.

That said, it’s clear that investors of all stripes are looking to de-risk their portfolios today. Given the inherent volatility that’s materialized with Bitcoin over the past decade, investors may be looking to reduce exposure to high-risk assets, and focus on adding heavier exposure to more defensive assets.

Today’s report on the relatively high concentration of Bitcoin ownership, along with various volume-related concerns, appear to have investors on edge. Perhaps these concerns will dissipate over the longer term as Bitcoin’s investor base broadens and the crypto market continues to mature. However, over the short term, it appears more volatility could be on the horizon for Bitcoin and other tokens as well. 

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

The post 2 reasons why Bitcoin is down today appeared first on The Motley Fool Australia.

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Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Bitcoin. 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.

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

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Shares for investment bank Macquarie Group Ltd (ASX: MQG) have gone gangbusters this year.

The stock price is up almost 47% in 2021. That’s despite a 7% fall late last month as news of COVID-19 Omicron hit the headlines. Although, that has been mostly regained since.

Macquarie’s valuation has ballooned to the point that it’s now the fourth-largest bank in Australia, technically kicking out Australia and New Zealand Banking Group Ltd (ASX: ANZ) from the big four.

So is this wunderkind now fully priced? What does 2022 have in store for Macquarie shares?

Holding into 2022, but looking for dips before buying

Medallion Financial managing director Michael Wayne told The Motley Fool that his team continues to hold Macquarie shares for many clients.

“It has been a good performer over a long period of time.”

But with the current price near its all-time high, he’s not sure that he’d actively buy the stock right now.

“It is hard to be a buyer at these levels, and our preference would be to buy after a decent pullback,” he said.

“In the event of a considerable market pullback, this is definitely one we’d have on the watchlist.”

Marcus Today founder Marcus Padley last week named Macquarie as an ASX share he’d hold onto forever.

“In the US, the competition among investment banks is just vicious. Here, if you are a smart, finance-orientated, want-to-be-in-the-market graduate, where’d you go and work?” he posed to Livewire.

“You go and work at Macquarie, you don’t go and work in a very institutionalised bank. You work in a bank that has got 14,000 of the smartest financial brains in Australia with one goal in mind: make money. And I think that’s a pretty good investment.”

Analysts bullish on Macquarie shares 

According to CMC Markets, seven out of 14 analysts rate Macquarie shares as a strong buy.

If you include the two who rate it as a moderate buy, that becomes nine of 14 who think investors should buy Macquarie stocks right now. Four rate it as a hold, while just one person is urging clients to sell.

Alphinity Investment Management client portfolio manager Elfreda Jonker told The Motley Fool earlier this month that Macquarie is one of her fund’s biggest holdings.

“Even after the last big run-up that we’ve had, we very much view it as a longer-term quality holding in our portfolio overall,” she said.

“It’s trading on a PE [ratio] of around 19 times, so that’s ahead of its long term average of around 16. But in our view, we do think that the way they are busy changing the business model and really just expanding the different business avenues that they’re in, we think this company can continue to generate really strong earning scores.”

Macquarie shares closed Monday at $202.50.

The post Where are Macquarie (ASX:MQG) shares headed in 2022? appeared first on The Motley Fool Australia.

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• The Altium (ASX:ALU) share price has risen 20% this year. What’s the outlook for 2022?
• Frontrunners emerge in Macquarie (ASX:MQG) VicRoads play
• Why ASX 200 shares could add ~$70bn during the Santa Rally
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Tony Yoo owns Macquarie Group 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 recommended Macquarie 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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Shares in Beach Energy Ltd (ASX: BPT) have been on a lumpy run these past 3 months. Prices have come off a high of $1.50 and are trading at $1.22 at the time of writing. That’s up 0.41% on yesterday’s close.

As such, shares are now trading in line with July 2021 ranges and are down around 32% this year to date. Oil prices have been equally as volatile these past few months. That downward pressure has been spilling over into adjacent markets and ASX resource players such as Beach Energy.

Even with the recent pullback in share price, several analysts remain constructive on Beach Energy coming into 2022. So is it a buy? Let’s take a closer look.

Is Beach Energy a buy in 2022?

Interestingly, the team at Macquarie reckons that 30% shareholder Seven Group Holdings Limited (ASX: SVW) could obtain control over the entire business, which should be factored into the investment debate.

Macquarie notes “it would not be a stretch for Seven to obtain control (circa $500 million to $600 million additional stock)”.

It also notes that Seven has historically shown “an appetite to act rapidly, where it sees opportunity to add value from obtaining control of underperforming portfolio companies”.

Macquarie believes Beach’s gas-oriented portfolio is resilient to what it dubs “the energy transition”, however, it remains neutral on the shares at a $1.40 valuation.

Checking the spread of analysts provided by Bloomberg Intelligence, the sentiment appears overwhelmingly bullish on Beach Energy coming into 2022.

Specifically, 14 analysts — or around 74% of the list — reckon that Beach Energy is a buy, while just 3 have it as a hold and 2 as a sell.

According to the list, the consensus price target for the next 12 months is $1.64, implying an upside potential of 35% at the time of writing.

However, the sentiment shows significant spread, with the distance between the highest and lowest price targets spanning 159% from $2.70 to $1.04.

Plus, even if these forecasts play out and the stock gains 35% to the consensus price target, Beach Energy would still just be reclaiming its losses of 34% made over the last 12 months.

Moreover, Beach Energy has missed 6 out of its last 8 earnings per share (EPS) estimates and trades at a forward price to earnings (P/E) of 6.26x at the time of writing. That’s below the S&P/ASX 300 Metals and Mining Index (ASX: XMM)’s trailing P/E of 15.2x.

Beach Energy share price summary

The Beach Energy share price has lost momentum these past 12 months and is down 34% in that time after losing a further 33% this year to date.

The downward pressure has continued this last month with shares down more than 2% in that time.

The post What are these top brokers betting for Beach Energy (ASX:BPT) shares in 2022? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Wednesday
• Why did the Beach Energy (ASX:BPT) share price lift today?
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Wednesday

The author has no positions 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 Macquarie 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 Insurance Australia Group Ltd (ASX: IAG) share price is moving in circles on Tuesday. This comes as the insurance giant revealed a reshuffle in the senior management team.

At the time of writing, IAG shares are down 0.12% to $4.225 apiece. It’s worth noting that in the past month, its shares have fallen by more than 6%.

IAG finds CRO replacement

In a statement to the ASX, IAG advised it has appointed Peter Taylor as the new group chief risk officer (CRO).

Mr Taylor brings an extensive wealth of knowledge into the role, having held various titles with large organisations. 

His previous experience includes 11 years in risk-focused roles at Commonwealth Bank of Australia (ASX: CBA). Mostly comprising under the banner of EGM and chief risk officer through various departments.

Currently, Mr Taylor is serving as general manager of enterprise risk at Westpac Banking Corp (ASX: WBC). He is responsible for group-wide aspects of risk management, assurance and governance.

IAG managing director and CEO, Nick Hawkins commented:

Peter has more than 30 years of corporate experience including several enterprise risk roles with large financial services companies, with 10 years working with regulators, Boards and management. The combination of his skills with his passion for risk means he is extremely well equipped to take on this hugely important role for IAG.

Mr Taylor will join IAG in the middle of 2022, provided his appointment secures the necessary regulatory approvals. In the interim, Tim Plant who is chief insurance and strategy officer will take over as acting group chief risk officer.

The inclusion comes as IAG’s former chief risk officer, David Watts handed his resignation from IAG in September. Mr Watts is due to formally leave IAG on 11 February 2022.

In addition, group executive strategic projects, Craig Olsen will depart the company on 28 February 2022.

IAG share price snapshot

Over the last 12 months, the IAG share price has lost around 12%, with year-to-date down 10%. The company’s shares have lost 50% of its wealth since July 2019, particularly when COVID-19 hit.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has gained 9% from this time last year and is up 10% year-to-date. The ASX 200 also reached a record high of 7,632 points in mid-August.

Based on today’s price, IAG presides a market capitalisation of roughly $10.43 billion, with approximately 2.47 billion shares on issue.

The post Why is the IAG (ASX:IAG) share price heading south today? appeared first on The Motley Fool Australia.

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• What are experts saying to expect for the IAG (ASX:IAG) share price in 2022?
• It’s trading at around 9-year lows, could the IAG (ASX:IAG) share price be a takeover target?
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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 owns and has recommended Insurance Australia Group Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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 Race Oncology Ltd (ASX: RAC) share price is climbing today on the back of the company’s latest capital raise.

During morning trade, the pharmaceutical company’s shares are up 3.64% to $3.42 apiece.

What did the company announce?

Investors are driving up the Race Oncology share price following the company’s strongly supported share purchase plan (SPP).

According to its release, Race Oncology advised it has successfully completed its SPP, raising $29.7 million after a scale back. This represents around 6.6% of the company’s issued capital as of today. The offer received strong support from 2,340 shareholders, who applied for more than $43.9 million under the SPP.

The retail component of the company’s equity raising efforts will see 9.9 new million shares created at $3 each.

The funds raised will go towards a number of company programs. These include:

• Phase 1b/2 FTO solid tumour clinical trial ($8 million);
• Cardio-protection Phase 2b clinical trial in breast cancer patients ($7.5 million);
• Phase 2 EMD AML/MDS clinical trial in Europe ($9.2 million);
• Improved formulations of Zantrene ($3.2 million);
• Preclinical cardio-protection studies ($1 million); and
• Development of new molecules ($0.8 million).

The SPP shares are expected to be issued today, and be available for trading from tomorrow.

Race Oncology managing director and CEO Phil Lynch commented:

The number of applications reflects enthusiasm for the significant potential of our lead drug Zantrene, and this enables us to implement our planned clinical and drug development plans across the three-pillar program. We move into 2022 in an exceptional position, with many critical, reportable milestones ahead of us.

Race Oncology share price snapshot

The Race Oncology share price has gained more than 97% in the past 12 months and is up by 95% year to date.

Based on today’s price, Race Oncology has a market capitalisation of about $493 million, with 149.54 million shares on issue.

The post Here’s why the Race Oncology (ASX:RAC) share price is edging higher appeared first on The Motley Fool Australia.

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• Here’s why the Race Oncology (ASX:RAC) share price is climbing today
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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 Bruce Jackson.

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The AMP Ltd (ASX: AMP) share price is falling this morning amid news the company is ditching the New Zealand Exchange (NZX) prior to its demerger next year.

The company will delist from the country’s exchange in February and all shares traded there will be automatically moved to the ASX.

At the time of writing, the AMP share price is 90.7 cents, 1.41% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.03% this morning.

Let’s take a closer look at today’s news from the financial services company.

AMP share price falls amid plan to leave the NZX

Come early February, AMP will be a sole listed company, with its shares only available to trade on the ASX.

According to the company, delisting from the NZX will help it simplify its shareholder administration. In a letter to New Zealand-based shareholders, AMP says:

The number of AMP shareholders who hold shares on the New Zealand exchanged has significantly reduced over time. Given the accessibility of the ASX to New Zealand-based shareholders, AMP considers delisting from NZX is an appropriate step.

After the company leaves the NZX, AMP’s New Zealand investors will need to approach a broker with the ability to buy and sell on the ASX in order to trade their shares.

The AMP share price opened 1.03% lower in New Zealand today and has been trading flat since.

The delisting will go ahead prior to the company’s planned demerger during which its Private Markets business will be split from the company. That’s expected to go ahead in the first half of 2022.

According to the company, NZX Regulation Limited, an entity charged with the NZX’s regulatory functions, has approved the delisting.

Though, it’s still subject to AMP meeting certain conditions. Investors who trade the company’s stock through the NZX don’t need to do anything ahead of the delisting.

AMP plans to stop the trading of its shares on the NZX at 5 pm on Wednesday 2 February. It will delist on 4 February.

Any formerly NZX-listed stock will trade on the ASX from 7 February.

Following the delisting, AMP will still offer its dividend in New Zealand Dollars. It also offers dividends in Great British Pounds.

The post AMP (ASX:AMP) share price slides amid NZ delisting news appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for the AMP (ASX:AMP) share price in 2022?
• Why has the AMP (ASX:AMP) share price fallen 20% in a month?
• November was a rollercoaster month for the AMP (ASX:AMP) share price. Here’s why
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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