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The Splitit Ltd (ASX: SPT) share price is pushing higher on Wednesday morning.

In early trade, the buy now pay later (BNPL) provider’s shares are up 2.5% to 60 cents.

Why is the Splitit share price rising today?

The catalyst for the Splitit share price rise on Wednesday has been the release of an announcement this morning.

That announcement reveals that Splitit is following the lead of industry giant Afterpay Ltd (ASX: APT) by launching in-store in the United States and globally.

According to the release, the company will launch Splitit InStore in August, allowing shoppers to pay in instalments using Splitit at participating merchants.

Splitit InStore’s initial focus is on larger value purchases such as home furnishings, jewellery, luxury retail and sporting goods. It has signed up a number of notable merchants, which are estimated to add over US$1 billion in combined addressable sales volume. These include La-Z-Boy Furniture Galleries, Gem Shopping Network, PROCAM, Fabergé, KEF and Aftershock PC Australia.

Splitit’s CEO, Brad Paterson, commented: “The recent shift to online has increased shopper expectations of flexible payment options at checkout. As we see a return to in-store spending in many countries, the number one request of our customers has been to provide an omnichannel experience.”

“Splitit InStore was developed with our target shopper in mind, empowering our merchant customers to initiate a seamless instalment payment offering that allows shoppers to pay in a frictionless way. The addition of Apple Pay and Google Pay adds to this by creating an even simpler payment experience,” concluded Mr Paterson.

What impact will this have on its sales?

Splitit has warned that the short-term economic materiality of the launch of Splitit InStore is unknown. This is due to the contingent nature of results that may be generated.

However, management considers the launch of Splitit InStore to be of strategic significance due to the importance of the in-store channel. It also notes that it widens Splitit’s addressable market opportunity.

The Splitit share price is down 55% since the start of the year.

The post Why the Splitit (ASX:SPT) share price is pushing higher today appeared first on The Motley Fool Australia.

More reading

• Got Sezzle (ASX:SZL) shares? What’s in store for FY22?
• Here are the 5 best performing ASX 200 tech shares from FY21
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• Top brokers name 3 ASX shares to sell next week
• The Afterpay (ASX:APT) share price is slipping today while the ASX 200 gains

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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The Mydeal.ComAu (ASX: MYD) share price is on the move on Wednesday morning.

At the time of writing, the ecommerce company’s shares are up 20% to 77 cents.

Why is the MyDeal share price charging higher?

Investors have been bidding the MyDeal share price higher today following the release of an update on its performance in FY 2021.

According to the release, the company achieved gross sales of $218.1 million for the 12 months ended 30 June. This represents a 111.1% increase over the prior corresponding period. Management advised that this was driven by an 83.1% increase in customer numbers to 894,225 and significant momentum in private label sales. The latter contributed $8.8 million to gross sales in FY 2021 following a soft launch late in FY 2020.

MyDeal’s CEO, Sean Senvirtne, notes that MyDeal is growing at above industry rates. He believes this is being driven by the company continually building on its value proposition of providing superior value to customers and marketplace sellers.

He added: “We have placed ourselves in an enviable position to harness the increased demand and ongoing transition to e-commerce, with active customers now exceeding 894,000. Growing the active customer base signifies the trust consumers have placed in our products, brands and shopping experience.”

Mr Senvirtne also revealed that the launch of its mobile app has been a success and expects it to support its future growth.

He said: “Since the launch of the MyDeal app in May, it has been extremely well received, being highly rated and highly utilised. We already see a higher customer conversion rate coming through, which makes me very excited about the future of this platform and its contribution to our growth.”

“Our Private Label business has delivered a strong Gross Sales contribution and continues to grow. We remain focussed on building and augmenting our proprietary technology platform which is proving to be a core scalable asset of the business, and have invested in securing high calibre talent across all teams. The future of MyDeal is brighter than ever,” he concluded.

The post Why the MyDeal (ASX:MYD) share price is jumping 20% today appeared first on The Motley Fool Australia.

More reading

• Why the Splitit (ASX:SPT) share price is pushing higher today
• Leading broker names 3 blue chip ASX shares to buy
• 2 top ASX tech shares rated as buys by brokers
• 2 exciting small cap ASX shares that could be buys
• How does the ATO know how much money I made from cryptocurrencies?

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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Having a few quality blue chip shares can be a great way to firm up a portfolio. But with so many to choose from, it can be hard to decide which ones to buy over others.

To narrow things down, I have picked out three top blue chip shares that one leading broker rates as buys. Here’s what you need to know:

Cochlear Limited (ASX: COH)

The first blue chip to look at is Cochlear. It is one of the world’s leading hearing solutions companies and has a long track record of delivering earnings growth. While the pandemic has been weighing on its performance, demand has been rebounding and looks set to continue growing over the long term. This is thanks to the ageing populations tailwind and its industry leading products.

Last month analysts at Macquarie put an outperform rating and $264.00 price target on its shares. This followed a survey of US audiologists which highlighted solid trading conditions and a growing preference for Cochlear’s products.

Fortescue Metals Group Limited (ASX: FMG)

Another blue chip to consider is Fortescue. Through its operations across the Pilbara region in Western Australia, Fortescue is one of the world’s largest producers of iron ore. And what a time to be one! With the spot iron ore price currently hovering around the US$220 a tonne mark, Fortescue is generating significant free cash flow even from its lower grade ore. Especially given that its C1 costs guidance for FY 2021 is US$13.50 to US$14.00 per wet metric tonne.

Macquarie currently has an outperform rating and $27.00 price target on the company’s shares. The broker is also forecasting huge fully franked dividends with double digit yields over the next two years.

ResMed Inc. (ASX: RMD)

A final blue chip share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market. Thanks to its industry-leading products, wide distribution network, and successful acquisitions, ResMed has been growing at a very strong rate over the last decade. Pleasingly, ResMed still has a significant market opportunity to grow into because of the growing prevalence of sleep disorders.

Macquarie is positive on ResMed’s growth prospects. So much so, last month the broker upgraded its shares to an outperform rating with a $34.85 price target.

The post Leading broker names 3 blue chip ASX shares to buy appeared first on The Motley Fool Australia.

More reading

• The Cochlear (ASX:COH) share price drops 3% today
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• The ResMed (ASX: RMD) share price was up 20% in June. Here’s why
• 2 ASX 200 dividend shares rated as buys
• 2 ASX 200 shares that might be buys for growth

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 Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. 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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Brokers are constantly looking for opportunities and this article is about two ASX tech shares that are buy-rated.

Technology businesses are able to grow quickly and achieve relatively high profit margins because of the low cost nature of software.

Here are two ASX tech shares that brokers like right now:

Hub24 Ltd (ASX: HUB)

Hub24 is one of the leading financial technology businesses on the ASX with a market capitalisation of around $1.9 billion.

It has the Hub24 platform and HUBconnect business offerings. The platform offers advisers and their clients a range of investment options, such as managed portfolio solutions and extensive transaction and reporting functionality.

There are at least four brokers that like Hub24 at this share price, including Credit Suisse which rates the ASX tech share as a buy with a price target of $31.50. The broker points to a stronger profit outlook and a confidence that Hub24 will see profit increase from higher interest rates in the future.

In April 2021, Hub24 revealed that it achieved record quarterly net inflows of $1.9 billion in the three months to 31 March 2021, which was an increase of 41% year on year and $0.2 billion higher than last quarter.

Total funds under administration (FUA) reached $51.4 billion, including Xplore Wealth which contributed $17.2 billion as at 31 March 2021, with platform FUA of $35.6 billion as at 31 March 2021 (up 136% year on year).

In the FY21 half-year result the ASX tech share’s achieved platform segment revenue growth of 25% to $43.8 million, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 41% to $16.4 million and underlying net profit after tax (NPAT) after tax growth of 39% to $7.5 million.

Nextdc Ltd (ASX: NXT)

Nextdc is a data centre business. Its pitch is that it’s building the infrastructure platform for the digital economy, delivering the critical power, security and connectivity for global cloud computing providers, enterprise and government.

Its cloud centre partner ecosystem is a large digital marketplace, comprising more than 600 carriers, cloud providers and IT service providers, enabling local and international customers to source and connect with cloud platforms, service providers and vendors.

Nextdc is achieving growth in financial terms. In the first half of FY21, it saw data centre revenue rise 27% to $121.6 million. Underlying EBITDA grew 29% to $14.9 million and operating cashflow went up 219% to $44 million.

The ASX tech share’s operational numbers continue to grow as well. For the 12 months to 31 December 2020, contracted utilisation grew 33% to 71MW and the number of customers increased 16% to 1,465.

At the half-year result, it said it was expecting more contract wins in the second half of FY21. It’s expecting underlying EBITDA to be in the range of $130 million to $133 million.

The post 2 top ASX tech shares rated as buys by brokers appeared first on The Motley Fool Australia.

More reading

• 2 high quality ASX shares that could be buys
• The Hub24 (ASX:HUB) share price took a hit today
• Meet the best performing ASX 200 shares of FY21. Are yours on the list?
• 3 high quality ASX growth shares analysts love
• 3 ASX shares ready to go off this year: experts

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. owns shares of and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There are a number of very interesting and exciting small cap ASX shares that could be worth looking into.

Businesses that are smaller may have more growth potential simply because of how small they are starting from. It’s easier to double a $500 million business to $1 billion, than doubling a $50 billion business to $100 billion.

These two businesses are delivering growth and could be worth a spot on an investor’s watchlist:

Healthia Ltd (ASX: HLA)

Healthia is a small cap ASX share with a few different divisions – ‘feet and ankles’, ‘bodies and minds’ and ‘eyes and ears’.

Those are represented by a number of different businesses including myFootDr, The Optical Co and All Sports Physiotherapy. It continues to make acquisitions to expand its network in each of those segments.

For example, two of its latest acquisitions include Bernie Lanigan Optometrist in Townsville and The Eyecare Place in Abbotsford, Victoria.

It aims for an earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of between 3x to 4.5x for acquisitions. It expects to deploy a minimum of $20 million of capital for new businesses over the next 12 months. Acquisitions are just one part of the strategy though. 

It has developed a clinically focused growth model which aims to drive organic growth and retain clinicians. Healthia has a number of centralised support functions, such as coaching, marketing and client retention strategies. It’s introducing additional services too.

Healthia also owns and operates iOrthotics, DBS Medical (an allied health supplies business) and a wholesale eyewear frame distributing business. There are margin improvements to this vertically integrated model, according to management.

In the FY21 half-year result, it saw underlying EBITDA rise 90.7% to $11 million and underlying net profit go up 103.6% to $5.8 million. The underlying EBITDA margin increased 486 basis points to 17.87%.

Propel Funeral Partners Ltd (ASX: PFP)

Propel is the second largest funeral operator in Australia and New Zealand. It has around 140 locations, over 30 cremation facilities and approximately 10 cemeteries. But it still counts as a small cap ASX share.

One of the growth trends that management morbidly point to is that the number of deaths is expected to grow in the coming decades.

Death volumes in Australia are expected to increase by 2.7% per annum from 2019 to 2030 and then 2% per annum from 2030 to 2050 according to the ABS.

Propel says that the number of deaths is the most significant driver of revenue in the death care industry.

In the 2020 calendar year, Propel had grown its Australian market share to around 7%.

It also continues to see steady growth of its average revenue per funeral. In the first half of FY21, this was $5,874, which was a 3.6% increase on FY20 overall and a 2.1% increase on the pre-COVID-19 period of the first three quarters of FY20.

In the first half of FY21, it showed that whilst revenue was up just 3.5%, operating net profit after tax (NPAT) grew 7.6% and operating earnings per share (EPS) went up 7% to 8.5 cents. This allowed the board to pay an interim dividend that was 50% higher to 6 cents per share.

Propel says that recent trading indicates that death volumes may be reverting to long-term trends and there is still the growing and ageing population in Australia and New Zealand that could boost long-term revenue.

The post 2 exciting small cap ASX shares that could be buys appeared first on The Motley Fool Australia.

More reading

• What’s driving the Propel (ASX:PFP) share price today?

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 recommended HEALTHIA FPO and Propel Funeral Partners 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 biggest advantage that cryptocurrency advocates have spruiked from the start is that all transactions are decentralised.

That is, there is no ‘middle man’ facilitating the transfer of Bitcoin (CRYPT: BTC) or Ethereum (CRYPTO: ETH) between the sender and receiver.

No big brother government or government looking over your every move, the libertarians say with glee.

“The benefit is greater access, faster transactions and, in some cases, lower transaction costs,” said The Motley Fool US’s Adam Levy this week.

“The ability to exchange currency and send money quickly and inexpensively holds a lot of promise for a global economy, and that’s why DeFi [decentralised finance] could play a significant role in our financial systems in the future.”

What’s more, cryptocurrency blockchains don’t record anyone’s names for ownership. Whoever holds the secure key to the digital coin is the de facto “owner”.

So, with no middle man and no names recorded, how would the Australian Tax Office (ATO) know whether you made hundreds, thousands or millions from cryptocurrencies?

The Motley Fool asked a tax expert to settle this once and for all.

Cryptocurrencies are not anonymous

According to H&R Block Inc (NYSE: HRB)’s Australian tax communications director Mark Chapman, one big myth about digital money must be dispelled.

“Cryptocurrency is not really anonymous,” he told The Motley Fool.

“The ATO receives data from Australian designated service providers (DSP’s) which enable it to identify the name of the cryptocurrency investor, date of birth, addresses, ABN (if applicable), email address, contact phone numbers and social media accounts.”

How does the ATO know all this when transactions don’t record any of this data?

Australian cryptocurrency exchange platform Coinjar explained in an email to users this week.

“The ATO is very interested in your crypto transactions and will find out about them because they use sophisticated tracking software that has already helped them find hundreds of thousands of non-reporters.”

The platform, therefore, reminded its customers that every transaction made in the 2021 financial year is “a taxable event” that must be reported. 

“This includes everything from regular selling and trading through to airdrops, staking, ICOs, futures trading and DeFi liquidity mining.”

Chapman said that as well as basic personal information, the tax office already has data on individual crypto accounts and transactions — such as linked bank accounts, wallet address, unique identifier, transaction date and time, type of currency, amount, transfer description and account balance.

“The ATO uses all of this to match with investors’ tax returns – and if there is a discrepancy, they will write to the investor seeking an explanation.” 

So there it is — you’ve been warned. Don’t say we didn’t tell you so.

The post How does the ATO know how much money I made from cryptocurrencies? appeared first on The Motley Fool Australia.

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• This little known token has gained 40 times more than Bitcoin today
• These 5 cryptos outperformed Bitcoin in FY21, delivering more than 2500%
• This is the only reason to invest in Bitcoin
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• How Tyler Winklevoss plans to go green with Bitcoin

Motley Fool contributor Tony Yoo owns shares of Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Whether you take a contrarian view to investing or like to hop on what’s hot, it’s interesting to see which ASX sectors have fared the best in the past year.

Perhaps you want to put some money into the sectors that haven’t gone so well, thinking there will be a turnaround. Or maybe you prefer to ride the momentum of the industries that have been on fire.

Ausbil chief economist Jim Chronis predicted that inflation would remain under control in the coming years, and this might have a bearing on which industries investors might favour.

“This low-rate environment, and the multi-year economic growth outlook, are supportive of an underlying multi-year growth outlook for equities, especially in cyclical sectors — banks and resources — as world demand grows.”

To help you make up your own mind about what the coming 12 months might hold, The Motley Fool has calculated the 3 best-performing sectors and the 3 worst for the 2021 financial year.

3 best-performing ASX sectors 

The Motley Fool used the sector-based S&P indices and looked at their performance for the year to 30 June 2021.

These 3 industries came out on top:

GICS* sector	ASX index	Performance 2021 financial year
Consumer discretionary	S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ)	Up 42.62%
Information technology	S&P/ASX 200 Information Technology Index (ASX: XIJ)	Up 38.88%
Financials	S&P/ASX 200 Financials Ex-A-REIT Index (XXJ)	Up 35.69%

All the money from COVID-19 government support and a lack of travel spending has seen the consumer discretionary sector go gangbusters.

1851 Capital portfolio manager Martin Hickson gave an example to The Motley Fool last month of a business in that area that served his fund very well last year.

“Post [March 2020] sell-off, it led to some of the best buying opportunities that we’ve seen in a decade since coming out of the GFC,” he told Ask A Fund Manager.

“Eagers Automotive Ltd (ASX: APE), one of the largest automotive companies here in Australia — we initially started buying shares in AP Eagers at $3.30 back in March. Shares today are around $15. So it’s performed very strongly for us.”

Ausbil chief investment officer Paul Xirades is backing bank shares to continue their run in the 2022 financial year.

“The banks had over-provisioned for [COVID-19] losses. With APRA allowing a return to more commercial dividend levels, and the economy resurging from the 2020 lows, we could see banks were in a position to reduce these provisions and grow their books further in a renewing real estate market,” he said.

“The result is that over the next few years, the unwinding of this over-provisioning will see a rerating of earnings, ahead of the consensus expectation at the time we began up-weighting into banks.”

3 worst-performing ASX sectors 

Noting that 2 of the 3 still made positive returns, here is the worst-performing trio from the 2021 financial year:

GICS* sector	ASX index	Performance 2021 financial year
Utilities	S&P/ASX 200 Utilities Index (ASX: XUJ)	Down 22.94%
Healthcare	S&P/ASX 200 Health Care Index (ASX: XHJ)	Up 4.98%
Consumer staples	S&P/ASX 200 Consumer Staples (ASX: XSJ)	Up 5.36%

Utilities, especially energy providers, are having a torrid time. 

Uncertainty over future climate change regulations and falling electricity prices have combined to hammer stocks like AGL Energy Limited (ASX: AGL), which is down more than 53% over the past 12 months.

Sadly for utilities, The Motley Fool couldn’t find many analysts willing to back it as a comeback play.

Healthcare, however, does seem to have a better future.

AVITA Medical Inc (ASX: AVH) shares, for example, have fallen 40% in the past year. But this week one fund manager told investors to keep the faith.

“We remain optimistic the company will expand its addressable markets through both label extension and geographic expansion given the extensive evidence of real-world cases in its targeted indications, while also growing its current burns business for years to come.”

* – ‘Global Industry Classification Standard’

The post Best and worst performing ASX sectors of financial year 2021 appeared first on The Motley Fool Australia.

More reading

• AGL and Zip shares were among the most traded ASX shares last week
• Hold your nerve on this battered ASX share: expert
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• These were the worst performing ASX 200 shares last week
• The 5 worst performing shares of the ASX 200 in FY21 revealed

Motley Fool contributor Tony Yoo owns shares of Avita Medical Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical 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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If you’re interested in adding some growth shares to your portfolio in July, then you may want to look at the ones listed below.

Here’s why they have been rated as buys:

REA Group Limited (ASX: REA)

The first ASX growth share to consider is REA Group. It is of course the dominant player in real estate listings in the Australian market with its realestate.com.au website.

REA Group has been growing at a consistently solid rate over the last decade and has been tipped to continue this trend over the next decade. This is thanks to its strong market position, a booming housing market, international operations, and recent acquisitions.

In respect to acquisitions, REA Group has just announced the completion of its acquisition of Mortgage Choice and a 34% stake in mortgage software company Simpology. This is expected to help REA Group capture a growing share of the mortgage broker market in the coming years.

Analysts at Goldman Sachs are very positive on its outlook. Earlier this week, the broker retained its buy rating and lifted its price target to $198.00. This compares to the current REA Group share price of $165.61.

Zip Co Ltd (ASX: Z1P)

Another ASX growth share to look at is this leading buy now pay later (BNPL) provider. In FY 2021, Zip has been growing at a rapid rate yet again.

For example, after delivering stellar growth in the first half, the company built on this during the third. This was particularly the case in the United States, where its QuadPay business reported third quarter transaction volume growth of 234% to $762 million. This was driven by a 153% increase in US customers to 3.8 million.

Pleasingly, this is still only a very small slice of a US retail market worth an estimated $5 trillion per year. This gives Zip’s QuadPay business a very long runway for growth as BNPL adoption rates increase and credit card usage declines. This should be supported by its expansion into Europe and Asia via recent acquisitions.

Morgans is expecting Zip’s strong growth to continue. As a result, it has an add rating and $10.39 price target on the company’s shares currently. This compares to the latest Zip share price of $7.25.

The post Why Zip (ASX:Z1P) and this ASX growth share could be buys appeared first on The Motley Fool Australia.

More reading

• AGL and Zip shares were among the most traded ASX shares last week
• 3 companies that broke their way into the ASX 200 in FY21
• These are the 10 most shorted shares on the ASX
• Got Sezzle (ASX:SZL) shares? What’s in store for FY22?
• Top broker tips REA Group (ASX:REA) share price to hit $198

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 ZIPCOLTD FPO. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you looking for some quality ASX dividend shares to add to your income portfolio?

Then you might want to look at the ones listed below. Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

The first dividend share to look at is Accent. It is a retail group with a collection of popular footwear-focused store brands. These include stores such as HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete’s Foot. In addition to this, the company recently acquired Glue Store and launched a new brand called 4 Workers. The latter is targeting the niche but lucrative workwear market. This includes clothing and footwear for tradies.

Accent has been growing at a solid rate for years and has been tipped to continue doing so in the future. This is thanks to the popularity of its brands and its store expansion plans.

Bell Potter is very positive on its outlook. It currently has a buy rating and $3.30 price target on its shares. The broker is forecasting dividends of 11.7 cents per share in FY 2021 and 12.3 cents per share in FY 2022. Based on the latest Accent share price of $2.78, this represents fully franked yields of 4.2% and 4.4%, respectively.

Transurban Group (ASX: TCL)

Another ASX dividend share to look at is Transurban. It is a toll road operator with a portfolio of important roads throughout Australia and North America. And while traffic has been soft on its roads during the pandemic, it is starting to bounce back. Pleasingly, as traffic levels recover, so too will its distributions.

It is because of this that analysts at Ord Minnett are forecasting dividends per share of 37 cents in FY 2021 and then 58 cents in FY 2022. Based on the current Transurban share price of $14.46, this will mean yields of 2.6% and 4% over the next two years. Ord Minnett has an outperform rating and $16.00 price target on its shares.

The post 2 strong ASX dividend shares tipped as buys appeared first on The Motley Fool Australia.

More reading

• 3 high-yielding ASX dividend shares
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• 2 quality ASX dividend shares with very attractive yields
• 2 quality ASX dividend shares with generous yields
• Top ASX shares to buy in July 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. 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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On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains and tumbled lower. The benchmark index ended the day 0.7% lower at 7,261.8 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.1% lower this morning. This follows a poor start to the shortened week on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 drop 0.2%, and the Nasdaq push 0.2% higher.

Oil prices sink

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could tumble on Wednesday after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$73.73 a barrel and the Brent crude oil price is down 3% to US$74.86 a barrel. Oil prices hit a six-year high before turning negative. This follows news that OPEC has postponed its production talks indefinitely.

Pinnacle market update

The Pinnacle Investment Management Group Ltd (ASX: PNI) share price will be on watch today after it provided the market with an update on its performance fee expectations in FY 2021. According to the update, Pinnacle’s seven affiliates have crystallised performance fees of $85.9 million. Its share of these fees is $19.5 million. This compares to $6.6 million in FY 2020.

Gold price rises

It could be a good day for gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) after the gold price pushed higher. According to CNBC, the spot gold price is up 0.75% to US$1,796.70 an ounce. Falling bond yields gave the precious metal a boost.

Nanosonics downgraded to sell

The Nanosonics Ltd (ASX: NAN) share price could come under pressure today after being the subject of a bearish broker note out of Goldman Sachs. According to the note, the broker has downgraded the infection prevention company’s shares to a sell rating with a reduced price target of $4.93. Goldman made the move after reducing its earnings estimates on the belief that the growth recovery may be shallower than its previous expectations.

The post 5 things to watch on the ASX 200 on Wednesday 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 Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Nanosonics 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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