Tag: Motley Fool

The Imdex Limited (ASX: IMD) share price has started the day off in the green and is climbing 2% higher at $2.68.

Imdex shares have rallied 13% this past week, and another 13% this month as well.

That’s well ahead of the S&P/ASX 200 index (ASX: XJO) which has posted a loss of 3% in that time.

Why is the Imdex share price gaining ground lately?

Imdex shares had been trading sideways since the company released its FY21 earnings report.

At that time, the provider of technology and equipment to the mining industry’s share price popped 11% on the day, but returns had been fairly uninteresting from that point.

That is however until we finished the walk through September, where investors began to show love for Imdex in the markets again.

Despite no price-sensitive news, bullish investors began driving the price action from $2.32 to $2.45 per share in the first week of October.

Then, yesterday, the company announced some positive updates from its annual general meeting (AGM), noting it had made a positive start to FY22.

It stated that Q1 FY22 revenue was already up 41% from the same time last year, and 13% higher than the previous quarter.

This is the highest Q1 top-line earnings result the company has achieved since 2018 by at least $18 million, per the AGM presentation.

Can Imdex keep up the momentum? One leading broker seems to think so. Let’s take a look at what investment firm Jeffries is saying about the Imdex share price.

Can Imdex keep growing its earnings?

Jeffries certainly believes it can, especially given the company’s record quarterly revenue result. The broker has updated its modelling and raised its earnings outlook for Imdex from the company’s updates.

As such, it reiterated its buy recommendation on Imdex shares, which implies analysts see further growth potential as a possibility.

The broker feels there are upcoming catalysts investors might want to consider as well too, as “the pace of recovery continues to surprise to the upside”, referring to broad ASX earnings growth and the recovery of the real economy.

With this in mind, it “expect(s) the next catalyst to be earnings and the inherent operating leverage that would drive further upgrades”, which it says could be bolstered by product development after the pandemic.

With FY22 revenue coming in so strong this early in the year, the broker lifted its FY22-24 estimates on Imdex’s EBITDA by 13-15% and its net profit after tax (NPAT) forecasts by 18-20%.

As The Motley Fool reported in August, some fund managers are seeing this upside in Imdex shares too, with Fairmont Equities managing director providing an optimistic look on the company’s shares in a note to clients.

Imdex share price snapshot

The Imdex share price has climbed 55% this year to date and has posted a return of 98% in the last 12 months.

These outsized gains have outpaced the broad index’s 12 month return of around 25%.

The post What this broker is saying about the Imdex (ASX:IMD) share price appeared first on The Motley Fool Australia.

More reading

• The Imdex (ASX:IMD) share price leaps 7% following AGM

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Imdex Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Woolworths Group Ltd (ASX: WOW) share price is gaining this morning after the company settled a class-action lawsuit brought about by its employees.

A class action against Woolworths was filed to the Federal Court of Australia in 2019 after the supermarket found it had underpaid around 5,700 employees.

Today, the retail giant announced it has provisionally settled the class action. The company has also agreed to pay a $2,500 ex-gratia payment plus superannuation to around 20,000 current and former employees.

At the time of writing, the Woolworths share price is $39.86, 0.4% higher than its previous close.

That’s roughly in line with the broader market’s movements. Right now, the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) have gained 0.16% and 0.21% respectively.

Let’s take a closer look at today’s non-price-sensitive news from Woolworths.

A quick refresher

Woolworths has been battling against the now-settled class action for nearly 2 years. In October 2019 a review found Woolworths had underpaid some of its salaried employees.

Around a month later, employees filed a class action lawsuit against the company to the Federal Court of Australia.

Woolworths has since repaid what was owed to affected employees, including interest and superannuation. The remediation payments have pulled around $370 million from Woolworths’ coffers so far.

However, the company believes the underpayments began in 2010. That’s beyond the time period the supermarket keeps records of rosters. Therefore, it’s unclear as to whether employees were underpaid between 2010 and 2013.

Today’s news

The Woolworths share price is up amid news the company has settled a class-action lawsuit brought against it.

Additionally, Woolworths has agreed to provide around $50 million worth of ex-gratia payments to previously underpaid employees.

Unfortunately for Woolworths, it no longer has records of employee rosters from between 2010 and 2013. That means the company can’t verify if employees were indeed underpaid during that time.

However, the underpayments likely stem from the 2010 implementation of the modern General Retail Industry Award.

As a result, the company will provide every employee who was potentially affected by the underpayments from 2010 until 2013 with a $2,500 payment, plus superannuation.

Woolworths’ CEO Brad Banducci commented on the news released today:

We said at the outset that we would extend our review beyond our legal obligations and look back to 2010. With detailed analysis challenging in the earlier years, we felt an equal and broad-based payment to all potentially impacted team members was a fair and equitable way to approach remediation for this period.

Woolworths share price snapshot

Today’s gains for the Woolworths share price have added to its already strong performance.

The company’s share price has gained 17% since the start of 2021. It is also 24% higher than it was this time last year.

The post Woolworths (ASX:WOW) share price gains amid class action settlement appeared first on The Motley Fool Australia.

More reading

• The final Woolworths (ASX:WOW) dividend will be paid today. Here’s what you need to know
• 5 things to watch on the ASX 200 on Friday
• 3 ASX shares protected from rising inflation and interest rates
• 5 defensive ASX shares to guide you through the market correction
• What happened for the Woolworths (ASX:WOW) share price in the FY22 first quarter?

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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The Webjet Limited (ASX: WEB) share price could be one to watch for the rest of this year. Could the ASX travel share rise to $7 by the end of 2021?

One broker has a positive price target for the company.

UBS rates Webjet as a buy

Webjet is rated as a buy by the broker UBS, with a price target of $6.85. That suggests the broker believes Webjet shares can rise by not far off 10%. However, a price target is for a period of 12 months, not just for the next quarter. It may take a bit longer than December 2021 to get to $7.

Increasing vaccine coverage is helping increase UBS’ belief in the company’s prospects. It noted that the ASX travel share was doing well when there weren’t so many COVID restrictions. Once borders open again, the broker is positive on Webjet’s future, with a lot of expected demand waiting to be unleashed.

What has the ASX travel share said?

Webjet said in an update the WebBeds business was profitable in July and August and is well on track to be profitable in September. It has seen “strong demand” as travel restrictions ease in North America and Europe, suggesting “significant upside” as more international markets reopen.

The company’s online travel agency business was profitable for the period from April to July, though the lockdowns in Australia and New Zealand impacted that. Online Republic was also profitable in April and May, but was also impacted by the lockdowns. Management said the company is confident that both businesses will return to profitability as soon as the Australian and New Zealand markets reopen.

The Webjet share price could be in focus when borders do open.

Management also said:

We see a world of opportunity for Webjet. All our businesses have significant potential to grow market share by expanding into new market segments and benefiting from consumers shifting to buy travel online. Transformation initiatives are underway and we are on track to reducing costs by at least 20% once the company gets back to scale. As a result, as conditions normalise, we believe our Webjet businesses will have higher market share, lower costs and greater profitability.

While the exact timing is uncertain as our growth opportunities are driven by the opening of borders, we know demand for travel will return and we are absolutely ready to capture it.

What is the UBS valuation on the Webjet share price?

The broker thinks that Webjet is going to get back to making profit in FY23.

Based on the UBS earnings estimate for the 2023 financial year, Webjet shares are valued at 20x FY23’s projected profit.

UBS has also pencilled in that Webjet could pay a dividend in FY23. How much? Not a big one, the estimate is 12.7 cents per share. Excluding franking credits, that translates to a dividend yield of 2%.

The post Can the Webjet share price fly to $7 by the end of 2021? appeared first on The Motley Fool Australia.

More reading

• 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
• Here’s why the Webjet (ASX:WEB) share price gained 29% last quarter

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 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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The NIB Holdings Limited (ASX: NHF) share price is in the green this morning.

The private health insurer has revealed it will pay employees $1,200 annually plus a one-off $300 to work from home.

According to NIB chief people officer Martin Adlington, the payments will compensate staff for “renting” their homes for work.

“While nobody celebrates the misery and disruption caused by COVID-19, it has presented a unique opportunity to us to re-think old work practices and design principles and ultimately redefine work at NIB,” Adlington said.

“We moved quickly to transition our people to remote working at the start of the pandemic, but since then we’ve spent months planning and consulting with our people to better understand how they like to work and how we can best support them.”

The private health insurer is encouraging employees to telecommute for a minimum of 4 days each week, and only come into the office for meetings and social events.

The NIB share price is up 0.14% to $7.03 in early trading on Friday and up 16.39% year to date.

Paying staff to telecommute attracts superior talent

Many employers have already adopted working from home as a permanent post-pandemic practice, which saves them office maintenance costs. 

But this is understood to be the first time an Australian company has redirected some of those savings to staff, who bear the expenses of conducting business at home.

The scheme, called Life at NIB, came about after 79% of the insurer’s 1,200-strong workforce indicated they did their best work from home.

“Our $1,200 annual allowance will help cover some of the costs of working in a remote environment while new employees will also receive a one-off reimbursement of $300 to help them set up their workstation at home, in addition to the tech kit we supply them,” Adlington said.

“Each employee can come to an agreement with their leader on what works best for them in terms of hours and location.”

Adlington added that the flexible working policy has already helped NIB attract new talent.

“Our teams are starting to be made up of a mix of people from all different locations which is great for encouraging diversity of thought.”

OHS at home

NIB is also putting in programs to assist employees’ mental and physical health while working from home.

“In the past 12 months, we’ve learnt that just having mental health resources available is not enough and creating proactive internal marketing campaigns that leverage a range of communications channels and formats, has the most impact,” Adlington said. 

“It’s why we’ve focused on delivering experiences that foster connections and camaraderie across NIB like physical challenges, panel discussions and buddy programs.”

Establishing a “safe space” for staff to start conversations is a vital part of the telecommute policy, too.

“We are very conscious of employees continuing to experience those informal workplace connections with their colleagues and we’re constantly looking for new ways to support this, particularly during lockdown.”

NIB share price snapshot

The NIB share price has gained 62.65% over the past 12 months. This far outpaces the S&P/ASX 200 index (ASX: XJO), which is up 19.25%.

The post ASX 200 company pays staff $1,500 to work from home appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• NIB (ASX:NHF) share price struggles despite big profits in FY21
• Why the NIB (ASX:NHF) share price is heading south today
• Why this analyst is bullish on the NIB (ASX:NHF) share price
• 2 small-cap ASX shares with an edge over rivals

Motley Fool contributor Tony Yoo 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 NIB 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 Kogan.com Ltd (ASX: KGN) share price is heading in the right direction again on Friday morning.

At the time of writing, the ecommerce company’s shares are up over 1% to $9.87.

However, despite this morning’s gain, the Kogan share price is still down over 6% since the end of last week.

This may be due to concerns over the impact that proposed strikes by transport operators could have on online shopping during the peak Christmas season.

Is the Kogan share price good value?

One leading broker that appears to see a lot of value in the Kogan share price is Credit Suisse.

According to a recent note, the broker currently has an outperform rating and $14.06 price target on the company’s shares.

Based on the latest Kogan share price, this implies potential upside of 42% over the next 12 months.

What did the broker say?

Credit Suisse acknowledges that it remains unclear how quickly the company can reduce its cost base to normal levels after a disastrous FY 2021.

Due to the company’s excess inventory, Kogan reported a significant increase in storage costs. It also led to Kogan spending more on sales and marketing to help shift it. This weighed heavily on its margins and limited its full year profit to just $3.5 million from gross sales of almost $1.2 billion. This was down 86.8% year on year.

Nevertheless, Credit Suisse feels investors should look beyond the short term and focus more on its long term growth potential. This is being underpinned by Kogan’s strong market position, the shift to online shopping, and its growing private label business.

Overall, based on this, the broker feels the Kogan share price is trading at an attractive level for investors and it retains its outperform rating.

The post Top broker tips Kogan (ASX:KGN) share price to rise 42% appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• 3 fantastic ASX growth shares to buy in October
• 2 beaten-up ASX shares that could be buys in October 2021
• 2 founder-led ASX shares to buy now
• These are the 10 most shorted ASX shares

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 Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com 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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ASX uranium shares are again finding a footing on Friday after rallying to multi-year highs in mid-September.

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN), opened 5.63% higher to 75 cents before its gains faded to a rise of 1.69%, or 72 cents.

Emerging producer Boss Energy Ltd (ASX: BOE) is catching bids today. It was up 4.26% to 24.5 cents in early trade before slipping back slightly to 24 cents.

Explorers including Peninsula Energy Ltd (ASX: PEN), Lotus Resources Ltd (ASX: LOT) and Vimy Resources Ltd (ASX: VMY) are also trading higher, up 4.76%, 2%, and 7.5% respectively.

Advanced uranium explorer Deep Yellow Limited (ASX: DYL) fell slightly before bouncing back to 93 cents, up 2.2%. However, recently listed 92 Energy Ltd (ASX: 92E) is down 2.13% to 69 cents.

Upbeat news for ASX uranium shares overnight

The Global X Uranium exchange-traded fund (ETF) rallied strongly overnight, up 3.9%.

The uranium ETF provides investors with access to a broad range of global companies involved in uranium mining and the production of nuclear components.

Another likely catalyst for the rise in ASX uranium shares on Friday was an announcement out of the world’s largest physical uranium fund, the Sprott Physical Uranium Trust (SPUT).

The fund actively invests in physical uranium. It takes supply off the spot market and stores it in secured locations with highly reputable uranium operators.

On 17 September, the fund had accumulated 27.7 million pounds of uranium. By comparison, uranium investment firm Yellow Cake PLC reported total spot volume for 2020 of 92.2 million pounds.

This morning, Sprott’s Twitter revealed the fund had exceeded the 30 million pounds mark.

Sprott Physical Uranium Trust exceeds 30 MILLION pounds of physical #Uranium!

300k lbs added today and 11.8 MILLION lbs added since August 17! #SPUT $U.UN $U.U $SRUUF #Lowcarbon #Nuclear

For more information and disclosures, please visit https://t.co/PcaG53VfN5 pic.twitter.com/l3JTNeewkv

— Sprott Asset Management (@Sprott) October 7, 2021

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

Sprott’s buying frenzy has been viewed as the catalyst that pushed uranium prices from US$30/lb in mid-August to 9-year highs of approximately US$50/lb by 17 September.

Uranium prices have since cooled off, trading around US$40/lb.

Morgan Stanley isn’t convinced the supply-demand fundamentals have changed in a manner to justify the recent price rise.

While experts are divided on current uranium prices, there’s no denying that more countries are showing interest in nuclear reactors.

The post Why ASX uranium shares are bouncing back on Friday appeared first on The Motley Fool Australia.

More reading

• What’s going on with the Deep Yellow (ASX:DYL) share price today?
• Boss Energy (ASX:BOE) share price wobbles after operational update
• Deep Yellow (ASX:DYL) share price slides 4% despite major ore reserve milestone
• Which ASX 300 shares are on the move for the start of the week?
• Which ASX shares are set to finish the week as the top movers on the ASX 300?

Motley Fool contributor Kerry Sun 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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It was a mottled start to the new financial year for the ASX-listed fintech shares. Many outperformed the S&P/ASX 200 Index (ASX: XJO) over the 3-month period. However, some went on a wayward path that led investors to no avail.

Many so-called ‘fintechs’ are categorised by the Australian Stock Exchange as either information technology shares or financial shares. Taking a look at both these sectors, these two dominant sectors were the third and fifth-best performing at the end of the first quarter — delivering 4.1% and 3.4% respectively.

Hence, it is worth a closer inspection to understand where the winners and losers were located.

Winning ASX fintech shares in the first quarter

Let’s start off with the good news — there were plenty of market-beating returns to be had across the sector. Potentially investors are gearing up for the reopening of the economy as vaccination targets draw closer.

As more money circulates through the economy, many fintech companies will be clipping the ticket on transactions. This brings us to the top-performing ASX fintech share during the quarter — EML Payments Ltd (ASX: EML).

Shares in the payments company rallied through August following an update on its regulatory concerns. EML disclosed it had reached an agreement on a remediation plan to address the discrepancies present in PFS Card Services (Ireland) Limited (PCSIL).

This gave shareholders reassurance during the quarter that the worst may be behind it. Although, an announcement released late yesterday afternoon indicates that the Central Bank of Ireland has proposed certain limits to PCSIL programs.

Moving along, the second-best performing ASX fintech share in the first quarter was none other than Tyro Payments Ltd (ASX: TYR). The payment company, which specialises in payment terminals, delivered a record full-year result in August.

In FY21, Tyro processed a record $25.5 billion in transactions across its network. Meanwhile, revenue increased 13% year on year to $238.5 million. This milestone achievement resonated well with investors, resulting in the Tyro share price being bid up.

Losers of the first quarter

It appears the last quarter was a challenging one for the buy now, pay later (BNPL) sector. Out of all the fintech shares in the All Ordinaries Index (ASX: XAO), two of the worst performing were Afterpay Ltd (ASX: APT) and Sezzle Inc (ASX: SZL).

Firstly, it was a volatile quarter for the Afterpay share price. The biggest BNPL company on the ASX endured erosion to its value throughout July. That was until it announced Square Inc‘s (NASDAQ: SQ) plan to acquire the ASX fintech share. In turn, the company’s share price rebounded to finish the quarter 1.91% higher.

On the other hand, US-based payment company Sezzle suffered a deep drop in its share price throughout the first quarter. In August, the Sezzle share price took a dive following the release of its half year report.

Investors were unimpressed with the company’s net loss of US$30.4 million. This was more than triple of FY2020’s first half loss, putting a dent in sentiment.

The post How did ASX fintech shares perform in the FY22 first quarter? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• EML Payments (ASX:EML) share price on watch with CBI update
• Here’s why ASX 200 tech shares are surging today
• Which ASX 300 shares are the biggest winners and losers on Thursday?
• Why Collins Foods, Pilbara Minerals, Sezzle, & Super Retail are pushing higher

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO and EML Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, EML Payments, and Tyro Payments. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and EML Payments. The Motley Fool Australia has recommended Tyro 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 BHP Group Ltd (ASX: BHP) share price is in the green this morning after the company’s boss outlined its future plans yesterday.

BHP’s CEO Mike Henry reportedly told a conference the company expects big things for its future trade with China.

Additionally, Henry revealed the company hopes to expand its activities into new jurisdictions in a quest for more nickel, copper, and potash.

At the time of writing, the BHP share price is $37.41, 2.1% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.77% this morning.

While the effect of the news on the BHP share price is likely negligible, it’s an interesting insight into what BHP’s business may look like by the end of the decade.

Let’s take a closer look at the revelations reportedly made by BHP’s CEO.

Will these changes drive the future BHP share price?

The BHP share price is gaining today amid reports of Henry’s optimistic comments. The BHP boss made the comments at yesterday’s Financial Times’ 2021 Mining Summit.

According to the Australian Financial Review (AFR), Henry told the conference the “complementarity” between the economies of Australia was strong. Therefore, he believes recent political tensions between both nations will dwindle in the future.

Further, he noted the relationship between BHP and its Chinese suppliers and customers is better than ever. Finally, Henry reportedly said: “We do believe that there is a pretty strong growth outlook for China.”

Additionally, the Financial Times has reported Henry used the conference to comment on the company’s expansion plans.

He is said to have outlined his hopes that half of BHP’s revenue will come from future-facing commodities by 2030.

To reach that goal, BHP will look at growing into “tougher jurisdictions” in an attempt to seek out more of the commodities. However, the Financial Times quoted Henry as saying:

I want to be clear, we don’t see exploration success as being confined to moving into new jurisdictions. We know there is more copper to be found in the areas we like but it is going to be harder to find and perhaps deeper, which is going to bring different technological and financial challenges.

The company already mines minerals for the future economy, notably nickel and copper. In fact, just yesterday the Motley Fool Australia reported BHP recently signed another agreement to supply nickel for electric vehicle batteries.

Henry’s comments are unlikely to be the cause of the BHP share price gains on Friday. Still, they may have pricked the ears of investors interested in BHP’s future.

The post BHP (ASX: BHP) share price gains amid CEO’s ‘strong growth outlook for China’ appeared first on The Motley Fool Australia.

More reading

• CBA (ASX:CBA) warns iron ore price will fall by 27% in the next year
• Own BHP shares? Here’s the latest on the miner’s nickel and EV battery play
• What is the BHP (ASX:BHP) share price outlook?
• These were the 5 worst performing ASX shares in September
• Why is the BHP (ASX:BHP) share price trading at 10-month lows?

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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The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is having a mixed morning on Friday.

In morning trade, the banking giant’s shares are up ever so slightly to $27.83.

This compares to a 0.7% gain by the S&P/ASX 200 Index (ASX: XJO).

Why is the ANZ share price underperforming the ASX 200?

The ANZ share price isn’t the only one in the banking sector underperforming the ASX 200 today.

Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) shares are actually dropping today despite the market’s solid gains.

This mirrors what happened on Wall Street overnight. Although the Dow and Nasdaq stormed higher, the financial sector acted as a drag on proceedings.

BNPL news

Not even the announcement of plans to take on Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) in the buy now pay later (BNPL) market has been able to boost the ANZ share price higher.

This morning ANZ announced that it will partner with Visa to launch a new feature for credit card customers.

Once it is launched in 2022, the new Visa Instalments feature will provide ANZ credit card customers with an option at the checkout or online to make purchases through interest free instalments across a wide range of terms.

ANZ’s Head of Cards and Personal Lending, Mike Shurlin, said: “We want to provide our customers with flexibility in how they manage their purchases, which is why we are pleased to work with Visa on launching this new feature.”

“We know many of our customers will use this option for certain purchases while choosing a standard credit card transaction for other items. Having that choice with no need for additional steps means they have a simple and secure feature through their existing card.”

“We have partnered with Visa many times in the past and share a focus on building features that make customers’ lives easier while maintaining high security standards,” he concluded.

The ANZ share price is up 21% in 2021.

The post ANZ (ASX:ANZ) share price flat despite BNPL plans appeared first on The Motley Fool Australia.

More reading

• What to expect from the ANZ (ASX:ANZ) FY 2021 result this month
• What happened for the ANZ share price in the FY22 first quarter?
• ASX 200 bank shares fall flat amid flurry of new regulations
• Why the ANZ (ASX:ANZ) share price has lagged the ASX 200
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD 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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The Starpharma Holdings Limited (ASX: SPL) share price is on course to end the week on a positive note.

In morning trade, the dendrimer products developer’s shares are up 4.5% to $1.25.

Why is the Starpharma share price rising?

The catalyst for the rise in the Starpharma share price on Friday has been the release of an announcement relating to its Viraleze antiviral nasal spray.

According to the release, the company has signed a sales and distribution agreement for Viraleze with Admenta Italia Group. It is a leading pharmaceutical retail and wholesale distribution company in Italy.

The company notes that the Italian over the counter (OTC) pharmaceutical market is the third largest in Europe after Germany and the UK. Admenta is a leader in the market operating over 260 pharmacies under its LloydsFarmacia brand, including 13 parapharmacies and 50 franchising pharmacies.

The release explains that the Viraleze product is expected to be available to Italian consumers in stores and via LloydsFarmacia’s online platform this quarter. Under the agreement, Starpharma will supply Viraleze and Admenta will be responsible for distribution, sales, and marketing of the product in the country.

What is Viraleze?

Viraleze is a broad-spectrum antiviral nasal spray which is applied in the nose to provide a physical barrier between viruses and the nasal mucous membrane. The product traps and irreversibly inactivates virus, including SARS-CoV-2.

Positively, the antiviral agent in Viraleze, known as SPL7013, has been shown in laboratory studies to have potent antiviral and virucidal activity in multiple respiratory viruses and multiple variants of SARS-CoV-2. This includes the inactivation of >99.9% of the highly infectious Delta variant.

Starpharma’s CEO, Dr Jackie Fairley, commented: “We are very pleased to have partnered with Admenta in Italy and we look forward to having Viraleze available soon to Italian consumers, through pharmacies as well as through the leading LloydsFarmacia online platform.”

The post Here’s why the Starpharma (ASX:SPL) share price is charging 4% higher today appeared first on The Motley Fool Australia.

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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 Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma 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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