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Here at the Fool, we’ve been taking the liberty of checking out how some of the major ASX share market indices and shares performed over the most recent quarter. FY2022’s first quarter officially ended on 30 September, meaning it’s a great time to check out how things went.

So today, let’s examine the ASX tech sector.

The ASX tech sector is perhaps best represented by the S&P/ASX All Technology Index (ASX: XTX). The XTX Index started the quarter on 1 July at exactly 2,963 points. By the time 30 September rolled around, the XTX was sitting at 3,093.1 points.

That puts this index’s gain at a decent 4.39%. That’s a lot better than what the broader S&P/ASX 200 Index (ASX: XJO) managed. The ASX 200 was only able to add approximately 0.26% over the same period.

So which ASX tech shares were mostly responsible for this outperformance?

WAAAX on for ASX tech shares?

Well, according to the BetaShares S&P/ASX Australian Technology ETF (ASX: ATEC), which tracks the XTX index, its current top 3 holdings are Afterpay Ltd (ASX: APT), Xero Limited (ASX: XRO) and Seek Limited (ASX: SEK).

Well, as we discussed last week, Afterpay had a rather uninspiring quarter, going from $118.17 a share at the start of July to $121.32 by the end of September. That’s a return of 2.67% for investors.

Xero? The cloud-based accounting software provider began FY2021 at $137.10 a share and finished up the quarter at $139 – a gain of 1.39%.

Seek started the financial year at $33.14 but went backwards over the quarter, landing at $31.12 a share at market close on 30 September. That’s a decline of 6.1%.

However, the XTX’s next 2 ASX tech shares by index weighting helped carry the weight for the quarter. Computershare Ltd (ASX: CPU) shares went from $16.90 to $18.22 over the quarter, a gain of just over 7.8%.

But WiseTech Global Ltd (ASX: WTC) did one better. This WAAAX darling started July at $31.93, but ended up finishing last month at $53.65. That’s a whopping gain of just over 68%.

So it turns out WiseTech was the real ASX tech share winner over the FY22 first quarter. Who knows what surprises this quarter will bring!

The post Why did ASX tech shares just have such a good FY22 first quarter? appeared first on The Motley Fool Australia.

More reading

• Xero (ASX: XRO) subsidiary inks new partnership with CBA
• Why Afterpay, Platinum, Star, & Strike Energy shares are sinking
• ASX 200 (ASX:XJO) midday update: Star shares crash, tech shares tumble
• Why the Afterpay (ASX:APT) share price is down 3% today
• Here’s what happened to the Afterpay (ASX:APT) share price in the FY22 first quarter

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. owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and Xero. The Motley Fool Australia has recommended SEEK 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 QBE Insurance Group Ltd (ASX: QBE) have spent all day in the red, closing 2.37% lower at $11.94 apiece.

The QBE share price was down today amid news that relates to a second business interruption test case heard in the Federal Court of Australia last Friday.

Here are the crucial details.

What went down to get us here?

To set the scene, we need to revisit the onset of the COVID-19 pandemic, when business and industry were forced to close due to government lockdown mandates.

The insurance industry has long distanced itself from paying up on its liabilities when it comes to pandemics. According to the Insurance Council of Australia, the industry believes “pandemics are not intended to be covered under most business interruption policies”.

But it came as a big surprise last year when policyholders found out they were ineligible for cover under their business interruption policies, as the insurers sought to exclude cover for pandemics.

The insurers’ group refused to act on its liabilities through a reference to the Quarantine Act. However, this legislature was repealed in 2016 and replaced by the Biosecurity Act.

Due to the discrepancies, a test case was held in 2020 to establish key definitions and criteria on how the new legislature would be applied in its first real-world case.

Back then, the NSW Court of Appeal heard the case and ruled in favour of policyholders, a decision upheld again in June 2021 by the High Court. Both agreed there were grounds to claim on business interruption.

As such, insurers can no longer rely on references to the Quarantine Act to deny liabilities as in the first test case, as it is an outdated piece of legislature.

QBE share price sinks after Federal Court judgement

Due to some confusion remaining from the first test case, a second test case was established to provide further clarification around the matter.

It seems as if the insurers’ wanted more clarity around what terms a business could claim under during a pandemic, particularly if a lockdown-based claim was substantiated.

From the Court’s rulings on Friday, it is now clear that businesses essentially cannot be compensated for losses that were sustained from the government lockdown only.

The Court ruled in favour of 8 out of 9 of the matters submitted by the insurers’, and upheld only 1 of the arguments put forward by the policyholders.

QBE has yet to formally comment on the matter. However, fellow insurance giant Insurance Australia Group Ltd (ASX: IAG) released a statement earlier today, stating it would review the judgement to determine whether an appeal was necessary.

Time has been set aside in November to hear any appeal in the Full Court to reach a final decision before the end of this year.

The QBE share price has been trading flat this past month, after gaining 40% this year to date and 30% in the past year.

The post QBE (ASX:QBE) share price slips following Federal Court judgement appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 shares surging this week despite inflation worries
• The most important catalyst for outperforming ASX shares: fund manager
• Why this broker sees 20% upside in the QBE (ASX:QBE) share price
• Broker names 2 blue chip ASX 200 shares to buy
• 5 things to watch on the ASX 200 on Friday

The author Zach Bristow 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 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) started the week off with a negative session. The benchmark index slipped 0.28% lower to 7,299.8 points.

In early trade, the Aussie index took a tumble below 7,260 points. However, throughout the afternoon ASX shares recovered somewhat from the fall. Unfortunately, tech shares were out of form on Monday, with Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) falling 4.16% and 3.95% respectively. This was partially balanced out by strong showings among the miners and energy shares.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Yancoal Australia Ltd (ASX: YAL) was the biggest gainer today. Shares in the coal producer soared 11.6% as energy crisis fears linger. Find out more about Yancoal Australia here.

The next biggest gaining ASX share today was Whitehaven Coal Ltd (ASX: WHC). Much like its larger-sized coal competitor, Whitehaven rallied 6.5% as investors look to take advantage of strengthening coal prices. Uncover the latest Whitehaven Coal details here.

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

ASX-listed company	Share price	Price change
Yancoal Australia Ltd (ASX: YAL)	$4.04	11.6%
Whitehaven Coal Ltd (ASX: WHC)	$3.44	6.50%
Fortescue Metals Group Ltd (ASX: FMG)	$15.03	5.47%
Coronado Global Resources Inc (ASX: CRN)	$1.595	4.93%
Zimplats Holdings Ltd (ASX: ZIM)	$20.46	4.28%
Liontown Resources Ltd (ASX: LIO)	$1.485	4.21%
Iluka Resources Ltd (ASX: ILU)	$9.40	3.87%
Insurance Australia Group Ltd (ASX: IAG)	$5.37	3.47%
New Hope Corporation Ltd (ASX: NHC)	$2.675	3.28%
Champion Iron Ltd (ASX: CIA)	$4.75	3.26%

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

• Here are the 3 heaviest traded ASX 200 shares on Monday
• Which ASX 300 shares are making headlines on Monday?
• ASX 200 (ASX:XJO) midday update: Star shares crash, tech shares tumble
• 5 things to watch on the ASX 200 on Monday
• Here’s what happened to the CSL (ASX:CSL) share price in the FY22 first quarter

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Insurance Australia Group Limited, and 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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The Wesfarmers Ltd (ASX: WES) share price struggled today amid the latest news about the ongoing takeover fight for Australian Pharmaceutical Industries Ltd (ASX: API).

What’s going on?

The Wesfarmers share price went down more than 1% today. That’s on the same day that the S&P/ASX 200 Index (ASX: XJO) went down around 0.3%.

Both Wesfarmers and Sigma Healthcare Ltd (ASX: SIG) are interested in buying API. Each business has a different offer for the company.

Sigma has previously submitted an offer that was conditional, non-binding and indicative to merge with API. Sigma thinks that the rationale for a combination of API and Sigma is “highly compelling” with significant benefits accruing to both sets of shareholders.

Under the proposal, API shareholders would receive a consideration of 2.05 Sigma shares and $0.35 cash for each API share held. This put the total bid at a value of $1.57 per API share, before the expected synergies. The API shareholder base would own just under half of the business if the deal were to go through.

Sigma is bullish on what a combination of the two businesses could mean. Management think it would result in the diversification of revenue streams, product and customer. Another benefit could be significant synergies and other efficiencies being available for shareholders. It could create a stronger platform to operate in a changing industry landscape. An enlarged Sigma could also benefit from greater scale and balance sheet capacity.

According to reporting by The Australian, Sigma and its advisers are thinking about “a raid” on API. The newspaper noted that Sigma could buy a “large” stake in the business by acquiring shares on the market. It also suggested that Sigma is thinking about increasing its takeover offer for API.

Where does this leave Wesfarmers and the share price?

Last week, Wesfarmers acquired 19.3% of API from Washington H. Soul Pattinson and Co. Ltd (ASX: SOL).

As part of the announcement, it noted it’s still committed to buying API, with an offer of $1.55 cash per API share on the table. It’s currently progressing with its confirmatory due diligence to support its proposal.

Wesfarmers said it has the view that its proposal is superior to the Sigma proposal and is in the best interests of API shareholders. The retail conglomerate does not intend to support or vote its 19.3% holding of API in favour of the Sigma proposal.

Rob Scott, the Wesfarmers managing director, said the proposal would deliver an attractive premium and certain cash return to API shareholders:

Wesfarmers continues to see opportunities to invest in and strengthen the competitive position of API and its community pharmacy partners. Exercising our option to acquire 19.3% of API reflects the group’s commitment to the transaction and the continued progress of the Wesfarmers proposal.

Wesfarmers thinks that buying API would give it the basis of a new healthcare division and a platform from which to invest and develop capabilities in the growing health, wellbeing and beauty sector.

The post Wesfarmers (ASX:WES) share price struggles amid latest API speculations appeared first on The Motley Fool Australia.

More reading

• API (ASX:API) share price lifts following guidance upgrade
• Can the Wesfarmers (ASX:WES) share price reach $60 by Christmas?
• Wesfarmers (ASX:WES) share price lifts in latest push for API
• Australian Pharmaceuticals (ASX:API) share price lifts following Wesfarmers 19% stake
• The final Wesfarmers (ASX:WES) dividend will be paid out today. Here’s what you need to know

Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company 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 shares of and has recommended Washington H. Soul Pattinson and Company 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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The Webjet Limited (ASX: WEB) share price has performed exceptionally over the past 6 months. Although the digital travel business has continued to be suppressed by restrictions imposed as a result of the COVID-19 pandemic, the company’s shares have surged.

Presently, shares in the $2.36 billion company are up 17% in the last 6 months. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has climbed a steady 4.6% over the same timeframe.

Considering that Webjet’s revenue remains severely impacted by the pandemic, investors are likely wondering why the Webjet share price is outperforming the index. While the exact answer is up for interpretation, there are a few likely influencing factors.

The reopening trade

Essentially, investors are beginning to see the light at the end of the tunnel for travel shares as vaccination rates near reopening levels. In fact, today marks ‘Freedom day’ for residents of New South Wales after the state batten down the hatches for 107 days.

This comes as NSW reaches 90.3% of the over 16-year-old NSW population receiving their first dose. Likewise, over 60% of Australians over 16 are now fully vaccinated. For reference, at 80% fully vaccinated, domestic travel restrictions will not apply to vaccinated residents. Additionally, outbound travel restrictions will be removed for those inoculated against the virus.

This daily infographic provides the total number of vaccine doses administered in Australia as of 8 October 2021

Stay up to date with COVID-19 vaccine information here: https://t.co/lsM33j9wMW pic.twitter.com/HtXuAozYh5

— Australian Government Department of Health (@healthgovau) October 9, 2021

https://platform.twitter.com/widgets.js

As a result, ASX-listed travel shares have gotten a boost recently as investors eye the eventual reopening of domestic and international travel. While the Webjet share price may have outperformed the benchmark index, other travel companies have outdone its performance in the past 6 months.

• Flight Centre Travel Group Ltd (ASX: FLT) up 22.6% to $22.35
• Corporate Travel Management Ltd (ASX: CTD) up 22.8% to $23.36
• Helloworld Travel Ltd (ASX: HLO) up 41.2% to $2.89

Webjet share price gets a buy rating

It is often supportive of a higher share price whenever an analyst considers it a ‘buy’. In this case, analysts at UBS recently rated the Webjet share price a buy with a price target of $6.85.

According to the note, the broker expects pent-up demand for travel will be considered once restrictions are lifted. Hence, UBS’ target suggests a potential 9.6% upside from the travel company’s current share price.

The post Why the Webjet (ASX:WEB) share price has beaten the ASX 200 in the last 6 months appeared first on The Motley Fool Australia.

More reading

• Can the Webjet share price fly to $7 by the end of 2021?
• It hasn’t been a great week so far for the Webjet (ASX:WEB) share price
• These are the 10 most shorted ASX shares
• Why ASX 200 travel shares are having a bumper day
• Up 5%, the Webjet (ASX:WEB) share price is back to March 2020 levels. Here’s why

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 shares of and has recommended Helloworld Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited, Helloworld Limited, and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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 Santos Ltd (ASX: STO) share price has been on fire lately, rising 25% since the start of September.

The energy producer’s shares finished Tuesday up another 1.49% to $7.49 apiece.

What’s driving Santos shares higher?

Investors have been buying up Santos shares after they were trading as low as $5.99 last month.

Santos updated the ASX regarding its merger plans with energy peer Oil Search Ltd (ASX: OSH) on 10 September. It advised that the two companies entered into a definitive agreement to combine in an all-scrip transaction.

Oil Search shareholders are set to receive 0.6275 new Santos shares for each Oil Search share held. Upon completion, this would give Oil Search shareholders a 38.5% stake in the newly merged entity. Santos shareholders will retain the remaining 61.5% interest.

The merged group will become the ASX’s largest oil and gas company and a top 20 global player. In essence, this would give the merged company a diversified portfolio of long-life and low-cost assets with significant growth options.

It is expected that the implementation date will be 16 December 2021.

Another reason why Santos shares are moving higher is the rising price of the West Texas Intermediate (WTI). From 20 September, the WTI has surged from trading around US$70.14 per barrel to now US$80.87 per barrel. This represents an increase of about 15% over the past 3 weeks.

What do the brokers think?

A number of brokers have weighed in on the Santos share price last month following its merger update.

Swiss investment firm UBS raised its price target by 2.4% to $8.65 for Santos shares. Meantime, JPMorgan also lifted its outlook. The multinational investment bank improved its view by 0.6% to $8.05 per share.

Both brokers’ assessments on the current Santos share price imply an upside of around 18% and 10%, respectively.

About the Santos share price

It’s been a strong 12 months for Santos shares, rising to almost 46% with year-to-date up 19% so far. It’s worth noting that the company’s share price is nearing its 52-week high of $7.84 achieved earlier this year.

Based on today’s price, Santos commands a market capitalisation of roughly $15.58 billion and has approximately 2 billion shares outstanding.

The post How did the Santos (ASX:STO) share price perform in the last quarter? appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares rise amid market sell-off
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• Why A2 Milk, Magellan, Santos, & Whitehaven Coal shares are falling
• ASX 200 energy shares pull back as oil prices take a breather

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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Xero Ltd (ASX: XRO) is partnering up with Commonwealth Bank of Australia (ASX: CBA).

To be precise, fintech company Waddle – Xero’s subsidiary, acquired by the cloud accounting giant in October 2020 – is inking the partnership deal.

Here’s why.

What partnership was announced?

CBA continues to march forward with its rapid pace of digitalisation and cloud migration.

And it’s now enlisting Xero for the company’s fintech knowhow.

In a release today, the bank reported on its new digital lending solution, Stream Working Capital, which is set to launch across Australia in October.

The program enables companies to use their outstanding invoice balances as loan securities to access new funds.

According to CBA, 55% of businesses surveyed currently considered invoice financing as a last resort. And 71% said they had “limited knowledge” about how it all worked.

The survey, conducted by House of Brand, polled 406 Aussie business owners and executives at the end of September.

Commenting on the new program, CommBank’s executive general manager of business lending, Clare Morgan, said:

Stream Working Capital sees us effectively lending against invoices, so businesses are seeing credit limits adjust in real time based on the value of current outstanding invoices. As the solution is digital end-to-end and integrated with cloud based accounting software such as Xero, a lot of customer pain points are removed.

She said the turnaround time using Stream Working Capital was 72 hours, “compared to an industry standard of several weeks”.

CBA said that partnering with Xero’s Waddle would enable automation of much of the working capital finance process. That includes credit assessment, underwriting and monitoring.

Xero share price snapshot

The Xero share price is sliding today, down 3.9% at $133.85 in late afternoon trade.

It’s not just Xero in the red today though. The S&P/ASX 200 Index (ASX: XJO) is down 0.4% at this same time.

And tech shares are having an even harder time of it, with the S&P/ASX All Technology Index (ASX: XTX) down 2.0%.

Xero’s shares are up 16% over the past 12 months and down 9% over the last month.

The post Xero (ASX: XRO) subsidiary inks new partnership with CBA appeared first on The Motley Fool Australia.

More reading

• CBA (ASX:CBA) share price edges higher amid legal proceedings
• CBA (ASX:CBA) share price slips as bank spruiks carbon credit opportunity
• How did ASX bank shares perform in the last quarter?
• Why do Pilbara Minerals (ASX:PLS) shares keep topping the volume charts?
• Could the CBA (ASX:CBA) share price hit $120 by the end of 2021?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of 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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The oOh!Media Ltd (ASX: OML) share price experienced a pretty significant wobble today despite no news having been released by the company.

The out-of-home advertising products company (think, billboards, public transport advertisements, and digital media) had a brilliant morning on the ASX before plunging into the red.

In fact, the oOh!Media share price clocked up a new 52-week high when it hit $2.04 in intraday trade.

However, at market close, the company’s stock was trading for $1.92. That’s 1.54% lower than its previous closing price and 5.88% lower than its shiny new 52-week high.

So, what might have spurred the advertising company’s stock to jump then fall on Monday? Let’s take a look.

What might be driving oOh!Media on the ASX?

The oOh!Media share price struggled during the afternoon despite having a great, but equally unexplained, start to the day

However, the oOh!Media share price’s surge might have been in reaction to the easing of COVID-19 restrictions in some parts of Australia.

Generally, more people moving about outside means more eyes on oOh!Media’s products.

As of today, fully vaccinated people in New South Wales can live life with fewer restrictions.

Now, 10 vaccinated people in NSW can gather at home, 30 can get together outdoors, and 100 people can attend weddings and funerals.

Additionally, travel is opening back up to regional NSW, though not for holidays just yet.

Today is also a good day for those in some regional Victorian areas who might also be seeing a few more out-of-home advertising products.

The Victorian government kicked off its ‘Vaccinated Economy Trial’ today.

There are 14 businesses in 6 regional areas taking part in the trial.

The areas selected for the trial are those with high vaccination rates and few COVID-19 cases. They include the Bass Coast Shire, Warrnambool, Buloke, Greater Bendigo, Pyrenees, and East Gippsland.

oOh!Media share price snapshot

Despite today’s dip, the oOh!Media share price has been performing well on the ASX lately.

It has gained 15% since the start of 2021. It is also 34% higher than it was this time last year.

The post Why did the oOh!Media (ASX:OML) share price just hit a 52-week high? appeared first on The Motley Fool Australia.

More reading

• Which shares are set to finish the week as the top movers on the ASX 300?
• 2 ASX shares that won’t stay cheap: fund manager

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 oOh!Media 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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The S&P/ASX 200 Index (ASX: XJO) is not having a fantastic start to the trading week so far this Monday. At the time of writing, the ASX 200 is down by 0.36% to 7,294 points. But one ASX share is faring far worse. That would be WAM Research Ltd (ASX: WAX).

The WAM Research share price is currently trading at $1.72 a share. That’s down more than 3.6% from where this Listed Investment Company (LIC) closed at last Friday. Operated by the famous Wilson Asset Management (the WAM in WAM Research), this ASX LIC focuses on investing in a portfolio of small to mid-cap ASX shares with an industrial bent.

Some of its most recently disclosed holdings include Webjet Limited (ASX: WEB), Bega Cheese Ltd (ASX: BGA) and Myer Holdings Ltd (ASX: MYR). 

WAM Research has also been one of the best performing LICs on the ASX in recent years. Since mid-2010, it has averaged an annual performance of 16.8% per annum (before fees and taxes). 

So why is this WAM LIC trailing the ASX 200 so comprehensively today?

WAM Research trails ASX 200 after going ex-dividend

Well, fortunately for investors, there is a simple and perhaps even welcome reason. WAM Research has just traded ex-dividend on the ASX boards today. Yes, from today, new shareholders won’t be entitled to WAX shares’ upcoming final dividend.

This company is scheduled to fork out its second and final dividend of the year on 22 October, in 10 days time. Eligible shareholders will receive a dividend of 4.95 cents per share, fully franked. That’s a small but still bankable increase from the final dividend of 4.9 cents per share last year.

Like many of WAM’s ASX LICs, WAM Research has amassed a reputation as a heavyweight when it comes to dividend income. But let’s see what this share price drop does for its yield.

So at an annualised payment of 9.9 cents per share against the current WAM Research share price of $1.72, this dividend is worth a yield of 5.76%. If we include the value of WAM Research’s full franking credits, this yield grosses-up to a hefty 8.23%.

No one likes to see the value of their shares go down. But what has happened today to the WAM Research share price on the ASX is one of the best reasons to see a drop in value. I’m sure shareholders won’t be complaining in 10 days time!

The post WAM Research (ASX:WAX) dividend hits 8% after share price drop appeared first on The Motley Fool Australia.

More reading

• These 7 ASX shares are going ex-dividend this week
• 2 ASX dividend shares with fully franked yields of more than 5% today
• These 2 ASX shares have been named as good opportunities

Motley Fool contributor Sebastian Bowen owns shares of WAM Research 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 shares of and has recommended Webjet 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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In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.3% to 7,296.9 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 4% to $117.80. This follows broad weakness in the tech sector. A disappointing finish to the week on Wall Street’s tech-focused Nasdaq index appears to be behind these declines. Afterpay is falling more than most due to the Square share price dropping over 4% on Friday night. It is currently in the process of acquiring Afterpay in an all-scrip deal.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is down 5% to $3.22. This appears to have been driven by the release of another disappointing funds under management update after the market close on Friday. One broker that wasn’t impressed was Credit Suisse. In response, the broker retained its underperform rating and cut its price target of $3.20.

Star Entertainment Group Ltd (ASX: SGR)

The Star share price is down 22% to $3.33. Investors have been selling this casino and resorts operator’s shares following media reports alleging money laundering, organised crime, large-scale fraud, and foreign interference. Star has responded stating that it “is concerned by a number of assertions within the media reports that it considers misleading.”

Strike Energy Ltd (ASX: STX)

The Strike Energy share price has sunk 16% to 23.5 cents. This follows the release of its maiden Perth Basin Gas Reserve. According to the release, 300 petajoule (PJ) 2P and up to 372 PJ 3P gross gas Reserves at the West Erregulla gas field in the Kingia Sandstone have been certified. This appears to have fallen well short of the market’s expectations.

The post Why Afterpay, Platinum, Star, & Strike Energy shares are sinking appeared first on The Motley Fool Australia.

More reading

• Here are the 3 heaviest traded ASX 200 shares on Monday
• Which ASX 300 shares are making headlines on Monday?
• Why is the Star Entertainment (ASX:SGR) share price plunging 19%?
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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 shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T 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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