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Leading up to the midpoint of 2021, it might be time to take stock and see how your investments stack up against the best performing shares in the S&P/ASX 200 Index (ASX: XJO) so far this year.

While the arbitrary timeframe of performance holds little weight in the long term, it can be helpful to understand what a winning investment looks like. Whether it’s macro trends, business decisions, or speculation – there’s usually a reason behind strong performance.

So, let’s make like a rock and get rolling…

Top 5 ASX 200 shares, you might be surprised

We covered 2021’s top performers out of all the ASX-listed shares on Wednesday. But today is solely for those that are included in the benchmark index.

And here they are…

ARB Corporation Limited (ASX: ARB)

The Australia-based 4×4 accessories manufacturer has shot the lights out so far this year. This ASX 200 share has gained 48% year to date (YTD). Making its performance all the more impressive, this is on the back of a 64% gain in 2020.

The company has benefitted from a massive boom in vehicle sales, as savings and the desire to travel locally surged. For the half year ended December 2020, ARB reported revenue of $283.9 million, representing an increase of 21.6% on the prior corresponding period.

Other share price catalysts included the company’s acquisition of Truckman – a utility accessories manufacturer in the United Kingdom, and a strategic collaboration with Ford Motor Company for its new Ford Bronco.

Reece Ltd (ASX: REH)

Ultra-low interest rates, a rebounding economy, and money to spend – a recipe for a thriving property market. Whether it’s building brand new, or updating the bathroom, Reece has captured plenty of the property tailwinds. Reece is Australia’s largest supplier of all things bathroom, kitchen, plumbing and HVAC.

The company reported a 4% increase in revenue for the half-year. Meanwhile, earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 12% to $349 million. With the property trend continuing into 2021, investors have been buying up this ASX 200 share in their droves.

The Reece share price has gained almost 50% YTD.

Pilbara Minerals Ltd (ASX: PLS)

Lithium prices have flown higher this year, with carbonate and hydroxide pushing more than 50% off November 2020 lows. The upwards move in the electrifying commodity has boosted revenues and earnings margins for lithium mining companies, such as Pilbara Minerals.

As of December 2020, the company’s trailing 12-month revenue was $105.5 million, an increase of 59.4% from December 2019. Additionally, the company’s strategy and outlook announcement on 11 May showed plans to further increase production.

The Pilbara Minerals share price has surged 53% so far this year. Despite the jump in its share price, the company is still one of the smaller shares in the ASX 200 index with a market capitalisation of around $3.85 billion.

Pro Medicus Limited (ASX: PME)

Pro Medicus is a provider of healthcare imaging software, ranging across medical accounting, clinical reporting, appointment scheduling and more. The company runs on a software-as-a-service (SaaS) model, making it important for it to land new contracts.

So far in 2021, Pro Medicus has landed a few big contracts, instilling investor optimism. In January, the company signed a 7-year contract with Intermountain Healthcare for $40 million.

Then in February, another 7-year contract – this time with a major University Health System for $31 million. Lastly, an 8-year contract worth $14 million was signed with the University of Vermont Health Network in May.

The flurry of new customers has been met with a 58% share price increase YTD.

Codan Limited (ASX: CDA)

Finally, taking out the spot for best performing ASX 200 share so far in 2021 with a gain of almost 66% YTD is… Codan. A manufacturer of metal detectors, communications, and tracking solutions, Codan has enjoyed record sales – driven predominantly by metal detector and tracking solution sales.

Furthermore, the company has made two acquisitions already this year, the first being Domo Tactical Communications. Domo is a provider of high-bandwidth wireless communications to more than 20 key United States Government agencies.

The second acquisition involved Zetron Inc, a provider of mission-critical communication technologies. Codan anticipates that the acquired business will contribute roughly $67 million in sales during the next financial year.

The post Here are the best performing ASX 200 shares so far in 2021 appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• ASX 200 drops, Sonic acquires, Challenger down
• Could investing in the ASX 300 be better than the ASX 200?
• Investors warn ASX 200 boards to stamp out sexual harassment
• Are crashing ASX mining shares an opportunity or a disaster to run from?

Motley Fool contributor Mitchell Lawler owns shares of Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended ARB Corporation 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 Australian industries with the biggest gender pay gaps have been revealed, and it’s not pretty for investment market participants.

Analysis firm IBISWorld’s study released Thursday showed that, across all industries and jobs, full-time female workers in Australia earned 13.4% less than a male colleague in the same position.

“A driving factor of the gender pay gap is unequal representation of women in leadership positions and inflexible working arrangements that do not accommodate for the responsibility of unpaid caring and domestic work,” said IBISWorld senior industry analyst Victoria Baikie.

The gaps in the 5 worst performing sectors are damning, with 3 of the sectors involved in investment markets.

Financial brokerage came ‘first’ with a 48.9% pay discrepancy, and the money market dealer industry was the third-worst with 41.3%.

Aviation, which has companies like Qantas Airways Limited (ASX: QAN) and Air New Zealand Limited (ASX: AIZ) on the ASX, rounded out the worst 5 with a 38.2% wage gap.

The other two sectors with massive gaps were sport and recreation clubs (47.6%) and real estate services (39.8%).

Why do these sectors pay women so poorly?

The gender gap in the finance industry was caused by a lack of female representation in higher positions. The study found that last year just 18% of managers were women.

While the industry is trying hard to address the gap, this critical element is yet to be resolved.

“Strategies to address the gap have become more common, such as gender parity graduate programs that support women’s entry. However, a higher proportion of males were promoted to more senior roles than women in 2020, hindering improvement in the gender pay gap.”

But Baikie had hope that this problem would be rectified. 

“Firms within the financial asset broking services subdivision are increasingly likely to focus on the retention and promotion of women into leadership positions — especially CEO positions — in order to address the gender pay gap.”

As for the money market, the domination of the big four banks in Australia seems to be a significant hurdle.

“None of the 4 largest banks has equal gender representation in their executive leadership team and on their board of directors,” said Baikie.

Macquarie Group Ltd (ASX: MQG) does have a female chief executive and equal gender split on its board, but it only represents 5% of the sector revenue.

In aviation, the massive disparity in wages among pilots is letting down the entire industry.

Just 9% of pilots in Australia are female, earning $942.30 less than men per week.

The upheaval caused by the COVID-19 pandemic would only exacerbate the situation, according to IBISWorld.

“Airlines will likely bring back their most senior pilots first as flight numbers increase, limiting opportunities for newly trained female pilots,” said Baikie.

“The gender pay gap for the air transport subdivision will likely get worse before it gets better.”

The post Revealed: 5 sectors with worst gender pay gap appeared first on The Motley Fool Australia.

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Tony Yoo owns shares of Macquarie Group Limited and Qantas. 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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Looking for growth shares to buy? Then you might want to consider the three listed below.

Here’s why they have been tipped as growth shares to buy:

NEXTDC Ltd (ASX: NXT)

The first ASX growth share to look at is NEXTDC. It is a leading data centre operator benefiting greatly from the structural shift to the cloud. This shift has led to growing demand for data centre capacity over the last few years, which has resulted in strong revenue and operating earnings growth.

Positively, this shift still has a long way to go, which should be supportive of further strong growth over the remainder of the 2020s. This could be boosted further by its plans to expand into the Asian market in the near future.

Morgan Stanley is positive on the company. It currently has an overweight rating and $14.60 price target on its shares.

PointsBet Holdings Ltd (ASX: PBH)

Another ASX growth share to look at is PointsBet. It is a leading sports betting company with operations in both the ANZ and US market. From these markets, the company is currently generating significant revenue. This is being driven by the growing popularity of mobile sports betting and innovative products like same game multis.

The good news is that the company is only scratching at the surface of its massive US market opportunity. For example, Goldman Sachs notes that the US sports betting market is forecast to grow at a compound annual growth rate of 40% out to 2033. It estimates that it will be worth US$39 billion a year at that point.

In light of this and its strong market position, the broker currently has a buy rating and $17.20 price target on its shares.

Zip Co Ltd (ASX: Z1P)

A final ASX growth share to look at is Zip. As with the others, this buy now pay later (BNPL) provider has been growing at a strong rate in recent years. This is being driven by its international expansion and the increasing popularity of the payment method with consumers and merchants.

And while its sales have been growing materially again in FY 2021, they are still only a tiny fraction of a $5 trillion market opportunity in just the United States. Add in the European and Asian markets, and Zip clearly has an extremely long runway for growth over the next decade.

Last week Citi put a buy rating and $10.90 price target on the company’s shares.

The post Why analysts love Zip (ASX:Z1P) and these fantastic ASX growth shares appeared first on The Motley Fool Australia.

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James Mickleboro owns NextDC shares. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd and ZIPCOLTD FPO. The Motley Fool Australia has recommended Pointsbet Holdings 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 some ASX shares that are growing really rapidly and seeing high levels of double digit revenue growth.

Businesses that are growing revenue quickly might be able to grow profit at a fast pace over time as well.

These two ASX shares that are growing quickly:

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster describes itself as Australia’s leading pure play retailer of furniture and homewares. It has over 200,000 products on sale from hundreds of suppliers.

The business runs a drop-shipping model where products are sent directly to customers by suppliers, enabling faster delivery times and reducing the need to hold inventory, allowing for a larger product range.

Temple & Webster has a private label range which is sourced directly by the company from overseas suppliers.

The ASX share was growing quickly during 2020 as e-commerce replaced bricks and mortar retailing. However, trading has continued to exceed expectations despite the fact the comparable periods include the impact of the COVID-19 lockdowns.

FY21 third quarter revenue increased 112% year on year. Active customers reached around 750,000 at the end of the third quarter. April 2021 revenue was up more than 20% year on year, with April 2020 being the fastest growing month last year due to the nationwide lockdowns implemented during March 2020. Customers that joined up during the COVID-19 period continue to perform better than historical cohorts.

The ASX share believes there has been a permanent shift in consumer shopping behaviours, the business is looking to invest to capitalise on the once in a generation shift from offline to online shopping.

It’s going to invest heavily to capture this opportunity as more shoppers go online. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin will be low during this period, though higher margins are expected in the longer-term.

Pointsbet Holdings Ltd (ASX: PBH)

Pointsbet is a corporate bookmaker with operations in Australia and the United States. It has developed a scalable cloud-based wagering platform where it offers its clients innovative sports and racing wagering products. Its offering includes fixed odds sports, fixed odds racing and ‘Pointsbetting’.

The business has continued to increase its market share and access in the US. This is translating into high levels of growth for the business.

In the third quarter of FY21, total turnover was up 236% to $905.2 million, with US turnover up 431% to $482 million.

The total gross win increased 275% to $100.5 million, with the US gross win rising 715% to $45.8 million. Pointsbet’s gross win margin improved by 1.1 percentage point to 11.1%.

The ASX share’s total net win improved 246% to $64.9 million, with the net win margin improving 0.2 percentage points to 7.2%.

Pointbet’s total number of active clients went up 169% to 285,500, with US clients rising 461% to 127,500.

Management said that the Australian trading business has seen improvement across a number of key KPIs as client behaviour shifts to the higher margin multi segment. Improvements in marketing tech tools also assisted with acquisition and retention compared to the prior corresponding period.

Pointsbet said that the performance of the Australian trading business remains an excellent blueprint for its aspirations in the US. It said that its ability to operate a growing, profitable business in the advanced and competitive Australian market, backed by continually improving product and growing brand recognition, provides confidence in the continued execution of its US strategy.

The post 2 ASX shares that are growing rapidly appeared first on The Motley Fool Australia.

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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 Pointsbet Holdings Ltd and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and Temple & Webster Group 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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If you’re looking to overcome low interest rates, then you might want to look at the dividend shares listed below.

Both offer investors attractive yields that are vastly superior to anything you’ll find with term deposits and savings accounts. Here’s what you need to know about them:

Aventus Group (ASX: AVN)

The first ASX dividend share to look at is Aventus. It is a leading owner, manager, and developer of retail parks with a portfolio of 20 centres valued at $2.2 billion.

At the last count, the company had a diverse tenant base of 593 quality tenancies, with national retailers representing 87% of its total portfolio. This exposure to national retailers, and particularly household goods and everyday needs, has been a big positive over the last 12 months. These retailers have been performing positively, allowing Aventus to continue to grow its funds from operations.

One broker that expects this solid form to continue is Morgans. It currently has an add rating and $3.12 price target on its shares.

Morgans is also forecasting distributions of 17.4 cents per share in FY 2021 and then 17.7 cents per share in FY 2022. Based on the latest Aventus share price, this represents 5.7% and 5.8% yields, respectively.

Super Retail Group Ltd (ASX: SUL)

Another ASX dividend share that has been tipped to provide investors with generous yields is Super Retail. It is the retail conglomerate behind brands including BCF, Rebel, and Supercheap Auto.

Super Retail has been a strong performer in FY 2021 thanks to a favourable redirection in consumer spending away from international travel onto cars, camping, and sportswear. And with international travel off the cards for some time to come, it appears well-placed to benefit from higher than normal demand across its brands in FY 2022 as well.

Goldman Sachs is positive on Super Retail. The broker currently has a buy rating and $15.00 price target on its shares. Goldman is forecasting an 84 cents per share fully franked dividend in FY 2021. Based on the current Super Retail share price, this represents a 6.5% yield.

The post These ASX dividend shares have generous yields appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares 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 Super Retail Group Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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 Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.4% to 7,359 points.

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

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.55% higher this morning. This is despite it being a mixed night on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 edge lower, and the Nasdaq storm 0.9% higher.

Oil prices pull back

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices pulled back from multi-year highs. According to Bloomberg, the WTI crude oil price is down 1.8% to US$70.89 a barrel and the Brent crude oil price is down 1.8% to US$73.02 a barrel. Broad weakness in commodity prices weighed on prices.

Tech shares on watch

Tech shares such as Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) could be pushing higher today after a strong night by their US counterparts. The tech-heavy Nasdaq index shrugged off rate hike concerns to charge 0.9% higher. As the local tech sector has a tendency to follow the lead of the Nasdaq, this bodes well for today’s trading session.

Coles still rated as a buy

The Coles Group Ltd (ASX: COL) share price is in the buy zone according to analysts at Goldman Sachs. In response to its strategy day update, the broker has retained its buy rating but trimmed its price target slightly to $19.40. It said: “Overall, although the disclosure did not offer an outlook materially divergent to our forecasts, the group remains on track to achieve the longer term deliverables with focus on sustainable growth.”

Gold price sinks

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could end the week deep in the red after the gold price sank lower. According to CNBC, the spot gold price is down 4.7% to US$1,774.30 an ounce. Traders have been selling the precious metal after the US Federal Reserve brought forward its rate hike plans.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• ASX 200 drops, Sonic acquires, Challenger down
• Could investing in the ASX 300 be better than the ASX 200?
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• Are crashing ASX mining shares an opportunity or a disaster to run from?

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, COLESGROUP DEF SET, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) dropped by around 0.4% today to 7,359 points.

Here are some of the highlights from the ASX today:

Sonic Healthcare Ltd (ASX: SHL)

The Sonic share price went up close to 1% today after announcing an acquisition.

Sonic Healthcare is going to acquire Canberra Imaging Group (CIG). The company called this a significant and positive step in the development of its imaging division in Australia. This acquisition will broaden its footprint, deepen its talent pool, increase the revenue of the division by around 10% and offer the potential opportunity for synergy benefits.

CIG has annual revenue of around $60 million. It was described by Sonic as the leading radiology practice in Canberra. It has 15 radiologists and approximately 200 other staff that operate 10 service sites across nine locations.

The CIG business has one fully-funded (via Medicare), two partially-funded and two unlicensed MRI scanners and also operates of two private PET CT scanners in Canberra. Sonic also said that it’s the only private operator of an angiography and inverventional day suite in the area.

This deal will be funded by the ASX 200 share with cash and/or debt and be immediately earnings per share (EPS) accretive.

Sonic Healthcare CEO Dr Colin Goldschmidt said:

Canberra Imaging Group is a high-quality imaging practice, with outstanding radiologists, management and staff, and with a culture that is strongly aligned with Sonic’s medical leadership model. CIG has a proven track record in the greater Canberra market, with a history of strong organic growth based on personalised and excellent customer service.

Challenger Ltd (ASX: CGF)

The Challenger share price fell more than 1% in reaction to a business update.

The ASX 200 share reaffirmed its FY21 profit guidance, it expects FY21 normalised net profit before tax to be at the bottom end of its guidance range between $390 million to $440 million.

Challenger CEO and managing director Richard Howes said that the business has emerged from a period of significant disruption in a strong position and with a clear strategy to drive its next phase of growth. He said:

Over the past three years we’ve faced a confluence of disruptive external events and have emerged in strong shape, with a significant capital buffer, a market leading funds management offering and diversified revenue flows in our life business.

We are now continuing to build on our strong foundations to capture the opportunities the high growth retirement market presents.

Mr Howes also pointed out that, when completed, the MyLife MyFinance bank will be a key focus for the business as it creates an opportunity to further diversify the product offering for customers and accelerate Challenger’s strategy to build direct customer relationships.

Challenger has revised its target capital range to 1.3 times to 1.7 times the APRA prescribed capital amount (PCA), extending the upper end of the range and outlining an intention to operate at around 1.6 times.

The ASX 200 share has also revised its pre-tax return on equity target to the RBA cash rate plus 12%.

Seven West Media Ltd (ASX: SWM)

The Seven West share price soared more than 23% after giving an update.

It said that trading conditions in the fourth quarter of FY21 have been positive, with a strong rebound in advertising revenue compared to last year. Seven’s advertising revenue including broadcaster video on demand (BVOD) is estimated to grow more than 45% in the quarter.

Seven said that early indications suggest ongoing positive momentum into the September quarter. It also said that since April, Seven has been increasing its television audience share year on year across key demographics.

Digital earnings continue to grow strongly, with Seven digital expected to contribute earnings before interest, tax, depreciation and amortisation (EBITDA) of more than $60 million in FY21, up 130% year on year. Digital earnings are expected to more than double in FY22.

Cost control remains an ongoing focus for Seven West Media, with costs expected to come in line with guidance at the lower end of the range.

The group now expects underlying EBITDA to be between $250 million to $255 million.

The post ASX 200 drops, Sonic acquires, Challenger down appeared first on The Motley Fool Australia.

More reading

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• Are crashing ASX mining shares an opportunity or a disaster to run from?
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• ASX share market fears ease as RBA’s inflation target proves difficult to hit

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 Challenger Limited. The Motley Fool Australia has recommended Sonic Healthcare 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 looking for new additions to your portfolio this week, then you might want to look at the growth shares listed below.

Here’s why these ASX growth shares are rated highly:

Hipages Group Holdings Ltd (ASX: HPG)

Hipages is a leading Australian-based online platform and software as a service (SaaS) provider. Its platform connects tradies with residential and commercial consumers, providing job leads from homeowners and organisations looking for qualified professionals.

The company estimates that over 3 million Australians have used its platform, providing work to over 34,000 trade businesses on the platform. Hipages also offers tradies its Call of Service job management software, which improves their productivity by streamlining their workflow and taking away the stress of doing admin.

Analysts at Goldman Sachs are positive on the company. They appear to believe it could be another REA Group Limited (ASX: REA) in the making. Goldman notes that the company currently captures around 5% of total industry advertising spend, but sees scope for this to increase to REA Group-type levels of 40% to 60% in the future as the company builds out its ecosystem.

Goldman Sachs has a buy rating and $3.35 price target on its shares.

Kogan.com Ltd (ASX: KGN)

Another option for growth investors to consider is Kogan. This ecommerce company is out of favour with investors right now because of some significant short term headwinds it is facing. This includes having a severe backlog of inventory after management failed to predict a slowdown in sales once the pandemic eased and physical stores reopened.

While this is very disappointing, nothing has changed in respect to its long term growth prospects. Thanks to its strong market position and the structural shift online, Kogan looks well-placed to grow its sales and earnings at a solid rate over the coming years once trading conditions return to normal.

Analysts at Canaccord Genuity appear to believe the recent weakness in the Kogan share price is a buying opportunity. The broker currently has a buy rating and $14.00 price target on its shares.

The post 2 highly rated ASX growth shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hipages Group Holdings Ltd. and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. 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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Tried logging into your mobile banking app this afternoon? If you were met with “Something went wrong”, you’re not alone. A widespread internet connectivity issue in Australia has hit many Australian companies. These include Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), and Australia and New Zealand Banking Group Ltd (ASX: ANZ).

While the outage started at 2pm, the exact cause has not yet been disclosed. But here’s what we know.

Looking at the commonality

Three of the big four banks, the Reserve Bank of Australia, Allianz, Macquarie Bank, and Virgin Australia have all reported issues across their systems. Reports have suggested these companies share the same content delivery network – Akamai.

Content delivery networks are responsible for the technology that hosts their customers’ data. A part of that responsibility is protecting their customers’ websites from cyber-attacks and optimising the speed of data access. These are two things that would be essential for ASX-listed CBA and its banking customers.

Only a week ago, Akamai’s competitor, Fastly Inc (NYSE: FSLY) experienced a similar outage that left Pinterest, The Financial Times, Reddit, and many other sites unresponsive.

Furthermore, The Australian Financial Review reported that Akamai’s Prolexic service may be related to the Australian issue.

It also appears the connectivity issue extends across Asia more broadly.

CBA and RBA after ASX close

At the time of writing, some banks, including CBA, have managed to restore services. Additionally, the RBA has put in place ‘appropriate mitigations’ to get its website back up and running.

UPDATE: 4.15PM We are starting to see services return to normal following a tech outage that had widespread impact across businesses. Thank you for your patience – we're sorry to cause any inconvenience to your afternoon.

— CommBank (@CommBank) June 17, 2021

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

However, the issue did result in the central bank cancelling its bond purchasing program for the day. The RBA had planned to purchase up to $2 billion worth of 11/2028 to 05/2032 bonds.

Lastly, no formal comments have been made by Akamai regarding the situation at this time.

The post CBA (ASX:CBA) and other banks hit by internet outage appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Fastly and Pinterest. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Pinterest. 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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Wesfarmers Ltd (ASX: WES) shares enjoyed a day in the green despite no news having been released by the company.

The Wesfarmers share price closed today’s session at $57.49 – 0.63% higher than yesterday’s close. However, during intraday trading, the company’s share price hit a new record high of $58.38.

Wesfarmers’ gains came about during a poor day’s trade for the S&P/ASX 200 Index (ASX: XJO), which closed Thursday 0.37% in the red.

Let’s take a look at what Wesfarmers has been up to this year.

Wesfarmers’ 2021

The ASX has only been graced with three pieces of price-sensitive news from Wesfarmers this year.

The first announcement came on 17 February, when the company announced it had made a final investment decision for the Mt Holland lithium project.

The project is a joint venture between Wesfarmers and Sociedad Quimica y Minera de Chile S.A.

The two companies decided to commit to the full funding of the project when they receive environmental approvals for the Kwinana refinery, anticipated early in the 2022 financial year.  

Construction of the mine, its concentrator, and refinery are scheduled to begin in the first half of next financial year.

The following day, Wesfarmers released its half-year results. The results included a 16.6% revenue increase and a 25.5% increase in net profit after tax (excluding significant items).

Both pieces of news had little impact on the Wesfarmers share price.

Finally, on 3 June, Wesfarmers released its strategy briefing.

Most of the news within the briefing was positive. However, the company admitted its businesses had been affected by COVID-19 induced fluctuations. Additionally, its Catch business’ gross transaction value growth has been negativing since mid-March.

The briefing’s release saw the Wesfarmers share price end the day around 2% lower than the previous session.

Wesfarmers share price snapshot

The Wesfarmers share price has been having a solid year on the ASX. Currently, it’s around 14% higher than at the start of 2021. It has also gained around 33% since this time last year.

The company has a market capitalisation of around $65 billion, with approximately 1 billion shares outstanding.

The post Wesfarmers (ASX:WES) share price hits new all-time high appeared first on The Motley Fool Australia.

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

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