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The S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is charging higher. In afternoon trade, the benchmark index is up 0.75% to 7,311.7 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 5% to $40.14. This is despite there being no news out of the biopharmaceutical company. However, its shares are up 75% in 2021 even after this decline. In light of this, some investors could potentially be taking a bit of profit off the table today.

EML Payments Ltd (ASX: EML)

The EML Payments share price is down 15% to $3.15. Investors have been selling this payments company’s shares following an update on regulatory action by the Central Bank of Ireland (CBI). According to the release, the CBI is planning to take action against its PFS Card Services (Ireland) business. Management has warned that the potential directions “could materially impact the European operations of the Prepaid Financial Services (PFS) business.”

Regal Investment Fund (ASX: RF1)

The Regal Investment share price has fallen 4% to $4.29. This morning the company announced that it has raised $97.9 million via an institutional entitlement offer. These funds were raised at $3.79 per new share, which represents a 15% discount to its last close price.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has continued its slide and is down a further 4.5% to $3.19. Investors have been selling this coal miner’s shares this week after thermal coal prices weakened. According to CommSec, on Wednesday night the thermal coal price fell a sizeable 10.2% to US$242.00 per tonne. It then followed this up with 4.2% decline to US$231.90 per tonne during overnight trade.

The post Why Clinuvel, EML, Regal, & Whitehaven Coal shares are sinking appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are the most popular by trading volume today
• ASX 200 (ASX:XJO) midday update: EML crashes, mining shares rise
• EML (ASX:EML) share price plunges 13% following regulatory update
• How did ASX fintech shares perform in the FY22 first quarter?
• 5 things to watch on the ASX 200 on Friday

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 EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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) looks like it will end the trading week on a positive note this Friday. At the time of writing, the ASX 200 is up a healthy 0.76% to 7,308 points.

But let’s dig a little deeper and check out which ASX 200 shares are topping the charts today in terms of trading volume, according to investing.com.

The 3 ASX 200 shares most heavily traded today

Whitehaven Coal Ltd (ASX: WHC)

Our first ASX 200 share is the coal miner Whitehaven. So far today, Whitehaven has seen a hefty 16.02 million of its shares traded.

There are no major news pieces or announcements out of the company today, so we can probably put this high volume down to movements in the Whitehaven share price.

The company has taken a mighty beating today, with Whitehaven shares down by 4.49% to $3.19 at the time of writing. This is the probable cause of the elevated trading volumes we are seeing.

EML Payments Ltd (ASX: EML)

Our second ASX 200 share makes a rare guest appearance on the list. EML Payments has seen a sizeable 17.81 million of its shares bought and sold so far today. We can almost certainly lay the blame for this at the feet of EML’s market-moving announcement this morning.

EML told investors that its Irish subsidiary PFS Card Services is facing further regulatory pressure from the Central Bank of Ireland.

This has seen the company lose a massive 14.32% from its share price so far today, with EML shares asking $3.17 apiece at the time of writing. It’s no surprise such a large share price loss has seen so many shares traded this Friday.

Pilbara Minerals Ltd (ASX: PLS)

Our third and final ASX 200 share today is none other than lithium producer Pilbara Minerals, a frequenter of the ASX 200’s top volume spot. Pilbara has seen a whopping 24.03 million of its shares swap hands so far today. No news is out from the company so far.

However, Pilbara Minerals seems to be having the same problem as EML, albeit on a far smaller scale. Pilbara shares are currently down by a not-insignificant 2.3% today to $1.95 a share. This is probably the reason behind so many shares trading today.

The post These 3 ASX 200 shares are the most popular by trading volume today appeared first on The Motley Fool Australia.

More reading

• Why Clinuvel, EML, Regal, & Whitehaven Coal shares are sinking
• Why do Pilbara Minerals (ASX:PLS) shares keep topping the volume charts?
• How did ASX lithium shares perform in the FY22 first quarter?
• 2 ASX 200 shares surging this week despite inflation worries
• US warns Evergrande crisis could affect ‘entire world’

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 EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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 Transurban Group (ASX: TCL) share price has fallen by 3% since 4 October 2021, with that decline occurring with a string of consecutive days of declines.

Whilst there haven’t been any material announcements this week, Transurban did make a major announcement on 20 September 2021.

WestConnex acquisition

A few weeks ago, Transurban announced that Sydney Transport Partners (STP) will acquire the remaining 49% of WestConnex from the NSW Government for $11.1 billion. After the deal is done, STP will own 100% of WestConnex.

If you’re wondering what Transurban’s relationship with STP is, the ASX share owns half of the business, alongside strategic partners, including new partner Caisse de depot et placement du Quebec.

WestConnex has almost 40 years of concession life remaining.

The additional ownership in WestConnex, including the extension of the M5 West concession from 2026, extends Transurban’s weighted average concession life to approximately 30 years.

Transurban said that WestConnex’s free cash generation, underpinned by “strong asset fundamentals” with potential upside from future infrastructure development and economic growth across Greater Sydney, is expected to support long-term group free cashflow generation and distribution for investors.

To fund the acquisition, Transurban said it was going to raise $4.22 billion at a Transurban share price of $13, which was an 8.3% discount to the previous closing price of $14.18.

The toll road operator also referenced capital releases. It currently expects to receive more than $600 million of potential capital releases until FY25 resulting from its increased stake in WestConnex. This is on top of more than $2 billion of potential capital releases expected to be achieved between FY21 and FY25 from a number of assets across Transurban.

Management are expecting the acquisition to add to free cash per security over the near-term, medium-term and long-term when including capital releases. In the near-term, it’s expected to be slightly dilutive when excluding capital releases because of the timing of the acquisition and capital raising.

How big is WestConnex?

Transurban pointed out that WestConnex is one of the largest road infrastructure projects in the world with an enterprise value of $33 billion.

It will form an approximate 70km network linking Sydney’s west with the Sydney CBD, Sydney Airport and Port Botany. By 2031, 40% of the Sydney population is expected to live within 5km of WestConnex.

Construction is nearing completion with 82% of projected capital expenditure spent to date.

Transurban said WestConnex is expected to benefit from traffic uplift from future road infrastructure investment across Sydney, including new major projects which will link into the asset over time.

Distribution guidance

Transurban provided distribution guidance for the six months ending 31 December 2021 of $0.15 per security. This compares to a $0.15 per security distribution for the first half of FY21.

Free cash for the first half of FY22 could be higher or lower than the distribution guidance because of COVID-19 uncertainty. The total FY22 distribution is still expected to be in line with FY22 free cash, excluding capital releases.

Including that interim distribution guidance and the final distribution from FY21, that puts the distribution yield at the current Transurban share price at 2.6%.

The post Why is the Transurban (ASX:TCL) share price struggling lately? appeared first on The Motley Fool Australia.

More reading

• 2 quality ASX dividend shares analysts rate as buys
• Transurban (ASX:TCL) share price slides as truckies push back on tolls
• 2 leading infrastructure ASX shares to consider
• Is the Transurban (ASX:TCL) share price a buy after the WestConnex acquisition?
• Top brokers name 3 ASX shares to buy next week

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 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 Westpac Banking Corp (ASX: WBC) share price is in the red on Friday. This comes as additional pressure is applied to the big four ASX 200 banks by climate activist group Market Forces.

At the time of writing, shares in $94 billion bank are down 0.3% to $25.93. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.83% higher on Friday.

In its latest campaign, Market Forces has lodged new resolutions for the upcoming annual general meetings of Westpac, Australia and New Zealand Banking Group Ltd (ASX: ANZ), and National Australia Bank Ltd. (ASX: NAB). These resolutions seek to eliminate, or at least constrain, the expansion of fossil fuel lending among the ASX 200 banks.

Climate fight against Westpac and other ASX big banks heats up

Initiatives to tackles climate change at a boardroom level has become highly topical. Since the unveiling of the Intergovernmental Panel on Climate Change’s (IPCC) damning report, a renewed thrust has come about to address the bellowing climate calamity in the room. One such group grabbing the big banks by the horns is Friends of the Earth affiliate, Market Forces.

Specifically, the resolutions lodged with ANZ, NAB, and ASX-listed Westpac call for an end to funding fossil fuel growth projects. This follows a year of increased lending to the coal, oil, and gas industry — despite the same banks committing to net zero emissions by 2050.

A report referenced by Market Forces, produced by the International Energy Agency (IEA), suggested the big four loaned as much as $8.9 billion to the fossil fuel industry in 2020. Remarkably, this represented an 18% increase in the amount loaned in 2019.

Inadvertently, Westpac and the other ASX big four constituents had enabled an additional 1.1 billion tonnes of CO2 production. Hence, activist groups like Market Forces believe the bank’s commitments are meaningless without addressing its lending.

Furthermore, Market Forces warned that uncapped lending to fossil fuel companies will result in emissions equal to 146 times Australia’s annual carbon footprint.

What about CBA?

For Commonwealth Bank of Australia (ASX: CBA) shareholders, Market Forces announced tabled resolutions for the CBA annual general meeting back in August. At this stage, CBA is recommending shareholders vote against the resolution.

Commenting on the move, Australian campaigns coordinator Jack Bertolus stated:

Continued large-scale lending to fossil fuels is not only exposing these banks and their shareholders to increasing levels of climate risk, it’s also undermining our chances of getting the climate crisis under control.

Finally, according to the ASX, Westpac will hold its annual general meeting on 15 December 2021. Meanwhile, NAB will hold its AGM 2 days later on 17 December. To cap it off, ANZ will conduct its AGM in between these two on 16 December.

The post Westpac and other ASX 200 banks face renewed shareholder pressure over climate policies appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: EML crashes, mining shares rise
• ANZ (ASX:ANZ) share price flat despite BNPL plans
• What to expect from the ANZ (ASX:ANZ) FY 2021 result this month
• How did the Westpac (ASX:WBC) share price perform in the last quarter?
• What happened for the ANZ share price in the FY22 first quarter?

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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Most days, the Motley Fool takes a look at the most traded ASX 200 shares that are bouncing around the markets each day. Recently, a very clear trend has emerged. That trend is Pilbara Minerals Ltd (ASX: PLS).

Pilbara Minerals, more often than not, has found its way into the top 3 most traded shares on the entire ASX 200. Not only that, the lithium producer is often the chart-topper, coming in at the No. 1 spot.

At first glance, this might seem rather strange. Pilbara Minerals is not an insignificant company on the ASX boards. But it still happens to be roughly the 83rd largest company on the ASX 200 by market capitalisation (that’s according to ETF provider iShares).

So you would think some of the ASX 200’s larger and more well-known shares might be more traded than Pilbara Minerals on average. What about Commonwealth Bank of Australia (ASX: CBA)? BHP Group Ltd (ASX: BHP)? CSL Limited (ASX: CSL)? Or Woolworths Group Ltd (ASX: WOW)?

But no, Pilbara Minerals tends to beat all of these companies more often than not when it comes to trading volume. Just yesterday, we discussed how Pilbara was topping the volume charts, pipping every other ASX 200 share, including all of those just listed.

So why is this the case?

Well, there are a few possible reasons we can look to.

Why do Pilbara Minerals shares consistenly top the charts?

The first is pure mathematics. Pilbara Minerals has a relatively low numerical share price ($1.94 at the time of writing). Contrast that with many other ASX 200 blue chips, and the picture is quite different. Woolworths shares are presently going for $39.96 each. BHP is trading at $37.95. CBA is asking $103.72, while CSL is commanding a price of $291.77 per share.

Think about this. If an investor had $10,000 to spend on ASX shares, this would get them roughly 5,000 Pilbara Minerals shares on current pricing. However, the same amount of money would only buy 250 Woolies shares, 263 BHP shares, 96 CBA shares, and 34 CSL shares. So you can see why Pilbara might have a naturally higher than average share volume count.

Pilbara Minerals has also released quite a few business updates and developments over the past few weeks that might be contributing. Just this week, the company announced one of its mines has entered the commissioning phase.

Last month, the company also announced it was upgrading its mineral resource estimates for another project. And back in late August, we saw Pilbara deliver its FY21 earnings report which was very well received at the time.

Lithium is a space on the ASX in which investors have already shown an enormous level of interest, and this interest seems to have been steadily growing in 2021.

Combining the sentiment for lithium shares in general, together with the number of developments and news that keep coming out of Pilbara, and we have another potential reason why Pilbara Minerals shares are consistently topping the trading volume charts.

At the current Pilbara Minerals share price, this company has a market capitalisation of $5.76 billion.

The post Why do Pilbara Minerals (ASX:PLS) shares keep topping the volume charts? appeared first on The Motley Fool Australia.

More reading

• How did ASX lithium shares perform in the FY22 first quarter?
• 2 ASX 200 shares surging this week despite inflation worries
• Could the CBA (ASX:CBA) share price hit $120 by the end of 2021?
• US warns Evergrande crisis could affect ‘entire world’
• ASX 200 (ASX:XJO) midday update: EML crashes, mining shares rise

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 CSL Ltd. 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 Metal Hawk Ltd (ASX: MHK) share price is set to finish Friday’s trading session on a high note. This follows the mineral exploration company’s latest update on its capital raising efforts.

At the time of writing, Metal Hawk shares are up 15.31% to 56 cents apiece.

Details of the placement

Investors are snapping up Metal Hawk shares after they came out of a trading halt today.

According to the company’s release, Metal Hawk has received firm commitments from investors to raise $2.4 million by way of a placement.

Both new and existing institutional and sophisticated investors supported the offer. It’s worth noting that established nickel miner Western Areas Ltd (ASX: WSA) also participated in the placement by maintaining its 6.6% interest.

Metal Hawk listed an issue price of 45 cents, which is an 8.2% discount to the last trading price on 5 October. Metal Hawk will create roughly 5.39 million shares using its 15% placement capacity under listing rule 7.1. The rule allows up to 15% of the company’s shares to be issued without shareholders’ approval.

Metal Hawk will use the net proceeds of the placement to accelerate drilling at its Berehaven Nickel Project.

Located about 20 kilometres southeast of Kalgoorlie in the West Australian goldfields, Metal Hawk recently discovered massive high-grade nickel sulphides at the Commodore prospect.

Metal Hawk managing director Will Belbin commented:

We’ve had a huge level of support for this raising which enables us to aggressively ramp up exploration drilling at Commodore. We look forward to following up the successful maiden RC campaign with deeper diamond drilling and downhole electromagnetics to get a better grasp on the project’s true potential.

About the Metal Hawk share price

In addition to today’s significant price rise, Metal Hawk shares have risen by almost 120% over the past year.

Metal Hawk commands a market capitalisation of about $22.65 million. It has approximately 40 million shares on its books.

The post Metal Hawk (ASX:MHK) share price rockets 15% on capital raising update appeared first on The Motley Fool Australia.

More reading

• Metal Hawk (ASX:MHK) share price rockets 27% on high grade discovery
• Metal Hawk (ASX:MHK) share price jumps following investor update
• Metal Hawk (ASX:MHK) share price closes 265% higher on action-packed day
• Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery

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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Yesterday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why these brokers are bearish on them:

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

According to a note out of UBS, its analysts have retained their sell rating and NZ$22.65 (A$21.50) price target on this medical device company’s shares. UBS was pleased to see the company release the Evora Full sleep apnoea mask. It notes that this new design is in line with current industry trends. However, it isn’t enough for a change of rating. UBS continues to believe its shares are overvalued at the current level. The Fisher & Paykel Healthcare share price is trading at $28.77 today.

Magellan Financial Group Ltd (ASX: MFG)

Another note out of UBS reveals that its analysts have retained their sell rating and cut their price target on this fund manager’s shares to $29.00. This follows the release of Magellan’s latest funds under management update, which revealed further fund outflows. The broker believes this is being driven by the poor performance of its flagship Global Fund. Unfortunately, the broker suspects that there could be further outflows to come. Particularly on the retail side due to its underperformance and high fees. The Magellan share price is fetching $33.65 today.

Mineral Resources Limited (ASX: MIN)

Analysts at Morgan Stanley have retained their underweight rating and $41.00 price target on this mining and mining services company’s shares. While the broker notes that the company is working towards restarting its Wodgina lithium operation, it doesn’t expect this to happen until the second half of next year. For now, the broker believes the company’s shares are overvalued. Particularly given its exposure to low grade iron ore. The Mineral Resources share price is trading at $43.55 today.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• Why Fletcher Building, Magellan, Sezzle, & Starpharma are racing higher
• Here’s why these top brokers reckon the Magellan (ASX:MFG) share price is cheap
• Why A2 Milk, Magellan, Santos, & Whitehaven Coal shares are falling
• Top brokers name 3 ASX shares to buy today
• Why A2 Milk, CBA, Flight Centre, & Magellan’s shares are sinking

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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The De Grey Mining Limited (ASX: DEG) share price is in the green this afternoon and is now trading 0.83% higher at $1.22.

Shares in the gold exploration company are on the move despite there being no market-sensitive news out of its camp today.

At one point, to start the day, the gold explorer’s shares were in the red, hitting an intraday low of $1.17. They stepped into the money just after 11am, where they have stayed since.

What’s happening with De Grey today?

The De Grey Mining share price is just behind the S&P/ASX All Ordinaries Gold Index (ASX: XGD) today which has climbed 1.05% into the green since the opening of trade.

This indicates there may be strength across the broader ASX gold sector today that may be helping the company’s price action.

The De Grey Mining share price has risen 26% in the past week, leading the ASX Gold index’s gain of 6%.

Also rallying this past week is the price of gold, which has shot up US$30/t.oz since 30 September, hitting a high of US$1,768/t.oz on 4 October.

The recent gains are a reversal of a longer-term downward trend that had been in place since June, where the price of the yellow metal bottomed on 29 September.

As of today it is trading 0.3% higher, commanding US$1,760/t.oz at last check, not far off its recent tops.

De Grey’s industry is in a unique position, in that participants on the supply side must accept prices that are offered in the spot and futures markets on the commodity it is exposed to – gold.

This means the markets dictate what price the company gets for its hard-earned labour. As such, it is considered a price taker, and its share price can and does fluctuate with the price action in the broader gold markets.

Two recent updates appear to have excited investors. De Grey announced a positive scoping study and drill results that indicate a high gold production at two of the company’s sites.

The De Grey Mining share price has shot up 28% from a previous low of 93 cents following the release of both announcements this past week.

De Grey Mining share price snapshot

The company’s shareholders have endured a wave-like journey over the past 12 months. The De Grey Mining share price is down 0.2% in this time. However, it has managed to climb 20% this year to date.

It’s also rallied almost 11% this past month and has risen 26% in the last week, despite today’s selling pressures.

For comparison, the S&P/ASX 200 (ASX: XJO)’s benchmark index has returned around 20% over the past 12 months.

The post Why is the De Grey Mining (ASX:DEG) share price higher on Friday? appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are leading the way in the ASX 300 today?
• Which shares are the biggest winners and losers on the ASX 300 today?
• Why De Grey Mining, Gold Road, Nick Scali, & Redbubble shares are racing higher
• De Grey (ASX:DEG) share price jumps 4% on gold project update
• Why the De Grey (ASX:DEG) share price is lifting today

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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The Regional Express Holdings Ltd (ASX: REX) share price is slipping into the red in afternoon trade today. At the time of writing, it is trading down 3% at $1.60.

Rex shares are leading the broader sector’s decline today with the S&P/ASX 200 Hotels Restaurants & Leisure Index (AXHRJD) sliding 1.55% from market open today as well.

Whilst there’s been no market sensitive news out of the airline’s camp today, it’s worthwhile seeing what’s led us to this point.

What’s up with the REX share price lately?

September saw the regional airline carrier’s share price takeoff from the runway, shooting up almost 30% to a high of $1.70 on October 4.

The onset of this move coincided with Qantas’ announcements last that it intends to start travel to some destinations from mid-December.

Despite this, REX announced extended reductions to its staff headcount and further downsizing of its service offerings at the end of the month.

It also advised that its services will remain suspended until 31 October, where it then expects all relevant staff to be double-vaccinated against COVID-19.

In fact, as more and more news comes out regarding the vaccine statistics of Australian’s, travel and leisure names share in the good fortune.

The ASX Hotels & Leisure Index has climbed over 12% since mid-August, on optimism of Australia’s domestic and international border reopening.

According to the Department of Health, 60.2% of people aged 16 and over are double vaccinated as of 7 October, and 81.5% have had at least one dose.

That means 12.423 million of us are fully vaccinated against COVID-19 here in Australia after another 330,600 doses were recorded in the last 24 hours.

As vaccination rates approach the desired 80% mark, former New South Wales Premier Gladys Berejiklian recently resigned, after a corruption probe.

That was a week ago, and REX shares started trading this week with a sharp nosedive, a trend that has continued until today.

The same phenomenon was observed in the broader travel sector as we walk through to finish this week of trading.

Investors appear uncertain about the roadmap out of lockdown given the former Premier’s resignation. The resignation has been felt throughout the public and private markets in the past week since it was announced.

REX share price snapshot

The REX share price has been plagued by the pandemic itself this year to date and is in the red from January 1.

The recent momentum hasn’t been enough to salvage the REX share price. It has posted a loss of 22% since January 1. Yet, it has gained 16% in the past 12 months, around half that of the S&P/ASX 200 index (ASX: XJO)’s climb of about 25% in this time.

The post Why is the Regional Express (ASX:REX) share price sliding 3% today? appeared first on The Motley Fool Australia.

More reading

• The Regional Express (ASX:REX) share price is booming 8%. Here’s why
• Why has the REX (ASX:REX) share price gained 6% so far this week?
• Regional Express (ASX:REX) share price takes flight despite extended stand-downs

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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The Tesserent Ltd (ASX: TNT) share price is surging today despite no news being released by the company.

However, only minutes before yesterday’s close, Tesserent announced it had completed its acquisition of Australian cybersecurity firm, Loop Secure.

Tesserent spent around $13.5 million to acquire Loop, using a mix of cash and scrip to pay.

At the time of writing, the Tesserent share price is 24.2 cents, 10% higher than its previous close.

Let’s take a closer look at the most recent news from the internet security-as-a-service provider.

Tesserent finalises Loop acquisition

The Tesserent share price is gaining today despite no news from the cybersecurity and cloud services company. However, its recently finalised acquisition is a potential catalyst.

Yesterday, Tesserent announced it had completed its acquisition of Loop Secure. While investors’ enthusiasm for Tesserent shares may have been spurred by this today, the acquisition has been a long time coming.

Tesserent first announced its plan to acquire Loop on 19 August.

Back then, the market was seemingly indifferent to the announcement. The Tesserent share price finished that session exactly where it had ended the previous one.

According to Tesserent, its purchase of Loop adds an additional $18 million of unaudited revenue to its books. Loop also has $2.25 million of sustainable earnings before interest, tax, depreciation, and amortisation (EBITDA).

Additionally, Loop’s security services will strengthen Tesserent’s Cyber 360 capabilities and deliver significant synergy and cross-selling benefits.

Tesserent previously said the acquisition would see it paying $7 million of cash on completion. It expects to pay another $2 million over the following 12 months.

Tesserent share price snapshot

Today’s gains haven’t been enough to boost the Tesserent share price back into the green.

The company’s stock value has fallen 30% since the start of 2021. It is almost 7% lower than it was this time last year.

The post Why is the Tesserent (ASX:TNT) share price climbing 11% on Friday? appeared first on The Motley Fool Australia.

More reading

• Tesserent (ASX:TNT) share price struggles amid investor update
• Tesserent share price slumps 6% following capital raise
• Why the Tesserent (ASX:TNT) share price is frozen today
• Why is the Tesserent (ASX:TNT) share price down 22% in a 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 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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