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Rupert Murdoch is not a name most Australian investors would equate to futuristic tech investing. After all, this is a nonagenarian who made his fortune on the decidedly 20th century business of selling newspapers. But, like many savvy investors, Murdoch has managed to somewhat evolve with the times.

His blockbuster deal a few years ago, which saw his company 20th Century Fox unload most of its television and film content to Walt Disney Co (NYSE: DIS), landed him (or at least the Murdoch Family Trust) with a massive stake in Disney. And these days, Fox Corp (NASDAQ: FOX)(NASDAQ: FOXA) is still making bank with its slimmed-down news assets. Namely the US-based Fox News channel.

NFTs: A new business for an old company

So perhaps it’s not so surprising to see Murdoch branch out even further into what the 21st century has to offer in terms of investing. According to a report in The Sydney Morning Herald (SMH) today, Murdoch’s Fox Corp is launching a new US$100 million fund for “digital creators”. This fund will be part of a new business called Blockchain Creative Labs.

Blockchain Creative Labs will administer and sell non-fungible tokens (NFTs). The co-founder and chief executive officer of Fox’s Bento Box Entertainment animation company, Scott Greenburg, will also serve as CEO.

NFTs are a relatively new phenomenon. They are basically blockchain-verified digital certificates of ownership. They can be attached to any digital good, such as artwork, a piece of music or film. As such, whoever owns the NFT is publically acknowledged as the rightful owner of a said digital good.

The SMH lists some famous NFTs that have been sold in recent years. These include a Kings of Leon album (bought for US$2 million), and Twitter Inc (NASDAQ: TWTR) founder Jack Dorsey’s first tweet (sold for US$2.9 million).

The report quotes Fox CEO of entertainment Charles Collier on the company’s latest move:

The emergence of blockchain technology has given birth to a new marketplace that is a natural extension of [Fox animation studio] Bento Box’s talents; one that allows the team to support, elevate and reward innovators and artists in new and creatively exciting ways

A Brave New World indeed for Mr Murdoch.

The post Rupert Murdoch is hopping on the NFT train appeared first on The Motley Fool Australia.

More reading

• ASX copper shares down after the commodity’s price falls 4%
• HitIQ (ASX:HIQ) share price charges 20% higher following IPO
• Charter Hall (ASX:CQR) share price lifts after latest update
• What moved the IAG (ASX:IAG) share price today?
• Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal

Motley Fool contributor Sebastian Bowen owns shares of Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Twitter and Walt Disney. The Motley Fool Australia has recommended Walt Disney. 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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Notable ASX copper shares fell today, alongside the price of copper, following news that China might soon release its copper stockpiles.

Copper is currently valued at US$9,552.50 a tonne ­– its lowest price since 23 April.

How 3 ASX copper shares performed today

There are only a few ASX listed companies focused on copper. Here’s how 3 performed today.

Oz Minerals Limited (ASX: OZL) is the only pure-play copper share within the S&P/ASX 200 Index (ASX: XJO). The Oz Minerals share price fell a notable 6.69% to $23.85 at the closing bell.

Sandfire Resources Ltd (ASX: SFR) is the ASX’s second largest copper producer by market capitalisation. The Sandfire Resources share price also slumped 5.99% to finish the day at $6.90.

BHP Group Ltd (ASX: BHP) also produces copper but it’s one of many metals that the ASX 200 miner digs out of the ground. The BHP share price took less of a hit today, down 1.73% to $48.37.

What is driving copper down?

The copper price fell 4.04% today, spurred by news of the possibility that China could introduce measures to limit the commodity’s price.

According to reporting by The Wall Street Journal, rumours are swirling that China’s State Reserve Bureau might release some of its stockpiles of copper, as well as aluminium and zinc, over the coming months.

China currently consumes 50% of the world’s refined copper. By releasing some of its stockpiles, China’s demand for copper imports would wane slightly and, in theory, lower the price of copper.

China has been attempting to lower the price of certain commodities for several weeks with little success.

Copper has been one of the commodities rallying this year. Its price has been propelled by eco-friendly initiatives, the growing popularity of electric vehicles and COVID-19 restrictions at copper mines.

Electric vehicles and solar energy require more copper than traditional technology. Additionally, new copper sources are few and far between.

Copper hit its highest price ever on 10 May, when it was selling for US$10,724.50 a tonne. It has since fallen 10.9%.

The post ASX copper shares down after the commodity’s price falls 4% 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 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 ASX has added another company to its trading boards today following the successful initial public offering (IPO) of HitIQ Limited (ASX: HIQ). At midday, the newly minted public company hit the ground running, opening 47.5% above its issue price of 20 cents per share.

HitIQ is a provider of hardware and software analytics that help better assist in the clinical diagnosis and ongoing tracking of head impact-related concussion injury data. Making all this possible is the company’s Nexus A9 mouthguard sensor technology.

Trying to get SaaSy with the AFL

Despite the company debuting as a small-cap, it has big goals. Its first commercial partner is the Australian Football League, which has entered a 3-year memorandum of understanding commencing for the 2021 season.

The objective is to create a league-wide head impact data bank. The agreement will extend to cover both the AFL and AFLW competitions in 2022.

HitIQ’s prospectus outlines that its aim is to operate on a software-as-a-service (SaaS) model. The company hopes to sell subscription licenses on a per athlete per year cost basis.

The first target market is other professional sports, while longer-term HitIQ will move to college sports and junior sporting codes.

Additionally, the company has its eyes on the United States market as another geography it’s seeking to break into.

The offer raised $10 million, which will go towards the company’s business strategies.

Good timing for HitIQ IPO

As mentioned in the prospectus, globally there is a growing concern surrounding the incidence of sports-related concussions and the potential associated health ramifications.

Last month, the National Rugby League (NRL) had a crackdown on illegal high contact which resulted in 14 sin bins and 3 send-offs. The Australian Rugby League Commission Chairman, Peter V’landys was ridiculed for the tightening standards, but hit back with:

My response to them is we have an obligation to our players and their welfare. I want our players to be able to leave our game with all their faculties … I make no apologies that we’re going to do everything in our power to keep the safety of our players.

There is a growing legal focus on the management of concussions in sports, particularly in the elite sector. Sporting codes are beginning to act. Likely due to the dramatic increase in lawsuits related to the mismanagement of head impacts by former professional athletes.

Following its IPO, the HitIQ share price retraced throughout the day, finishing 20% higher to 24 cents a share.

The post HitIQ (ASX:HIQ) share price charges 20% higher following IPO appeared first on The Motley Fool Australia.

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• Charter Hall (ASX:CQR) share price lifts after latest update
• What moved the IAG (ASX:IAG) share price today?
• Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal
• Top brokers name 3 ASX dividend shares to buy today
• What ASX shares might be affected by the UK-Australia trade deal?

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

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The Charter Hall Retail (ASX: CQR) share price is in the green. At close of trade, shares in the real estate investment trust (REIT) were trading for $3.94 – up 1.55%. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.09% higher.

The REIT comes into focus after announcing a valuation update, a new acquisition, and distributions for the second half of the financial year.

Let’s take a closer look at today’s announcement.

Why the Charter Hall share price is rising

Positive revaluation

According to the statement, Charter Hall says it has reassessed 64% of its portfolio by gross value and this segment has appreciated by 4.1% – or $143 million. The average capital rate of the portfolio has decreased from 6.03% to 5.81%. Net tangible assets per security have increased from $3.77 to $4.02.

Charter Hall CEO, Greg Chubb, said:

Today’s portfolio valuations demonstrate the resilience and attractiveness of our Convenience Retail portfolio. Our shopping centre portfolio has proven its resilience through the challenges of the last 12 months with strong occupancy, rent collection and retail sales growth. This is now being reflected in asset valuation gains.

Latest acquisition and second half dividend

As well, Charter Hall declared it has bought the Butler Central Shopping Centre in Western Australia, from Woolworths Group Ltd (ASX: WOW), for $51.2 million – a 6.0% cap rate. Besides Woolworths stores, another ASX retailer in the centre is Reject Shop Ltd (ASX: TRS).

The transaction will settle in July 2021 and is being funded using existing debt facilities.

Finally, Charter Hall says it will pay a dividend of 12.7 cents per security to shareholders for the H2 of FY21. This is an increase on the first half of the financial year, which was 10.7 cents per security.

Charter Hall share price snapshot

Over the past 12 months, the Charter Hall share price has increased 14%. However, before the COVID market crash, Charter Hall shares were trading for $4.94 each. Its 52-week high is only $4.08.

For a sense of how devastating the pandemic was for the REIT, between 5 March and 23 March 2020, its share price fell 43.1%. Fourteen months later it has still not fully recovered.

Charter Hall has a market capitalisation of $2.26 billion.

The post Charter Hall (ASX:CQR) share price lifts after latest update appeared first on The Motley Fool Australia.

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• What moved the IAG (ASX:IAG) share price today?
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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 Woolworths 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 Commonwealth Bank of Australia (ASX: CBA) share price broke a new record high on Wednesday despite being tainted by a money laundering scandal.

The CBA share price jumped over 1.4% to $104.82 even as the S&P/ASX 200 Index (Index:^AXJO) struggled to hold its head above water.

Investors aren’t perturbed by news that the bank may be in breach of anti-money laundering laws, reported the Australian Financial Review.

Money laundering scandal fails to dampen CBA share price

The potential legal headache is linked to an investigation into BSP Financial Group Ord Shs (ASX: BFL) by Papua New Guinea authorities.

BSP is a partner of CBA and to National Australian Bank (ASX: NAB). The report hasn’t impacted on the NAB share price either as it jumped 0.7% to $26.86.

The two ASX big banks are correspondent banks to BSP. This means CBA and NAB provide a channel for BSP’s customers to transfer money in and out of Australia.

How BSP’s legal problem can impact on CBA and NAB

If BSP is found guilty and is punished with sanctions, CBA and NAB will be liable under Australian law as Australian banks are required to undertake regular due diligence of their partners.

Investors will be getting another serious case of déjà vu. Australia’s largest financial institutions have a long and sorry track record of breaching regulations and behaving badly.

They have since made strides in cleaning up their act following the Haynes Royal Commission, although this latest development is a setback.

BSP under investigation

The PNG money laundering probe into BSP started in late 2019 by Financial Analysis and Supervision Unit (FASU), according to the AFR.

BSP was issued with a “show cause notice” as to why it shouldn’t be sanctioned by FASU in late 2020.

The sanctions could involve a fine, enforceable undertaking, formal public warning and/or having an enhanced audit process imposed upon the newly listed bank.

Non-disclosure issues

BSP floated on the ASX on 25 May but it didn’t disclose the money laundering probe. However, it did highlight “elevated corruption risk” in documents lodged on the ASX.

This probably won’t cut it with the ASX or shareholders if it is proven that BSP had known about the probe by FASU.

Both CBA and NAB declined to comment on BSP, according to the AFR. The big banks would only say they comply with Australian regulations.

Shareholders will be hoping this is true.

The post Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal appeared first on The Motley Fool Australia.

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Brendon Lau owns shares of Commonwealth Bank of Australia and National Australia Bank Ltd. Connect with me on Twitter @brenlau.

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 Insurance Australia Group Ltd (ASX: IAG) share price fell in intraday trade today, although still finished the day in the green.

Up around 2.5% in morning trade, IAG shares dipped after the company released an update on its response to recent flooding in Victoria. Shares rebounded slightly across the rest of the day and closed at a price of $5.17 each – up 1.17%.

Let’s take a closer look at today’s announcement.

Rising costs after flood devastation

In a statement to the ASX, IAG declared it has received more than 4,300 claims relating to the deadly flooding in Victoria’s Gippsland region. IAG says these claims primarily relate to property damage. It also expects the number of claims to rise in coming days as customers are able to assess damage on their properties.

IAG’s net costs for natural disasters this financial year, up to and including 31 May 2021, stand at approximately $660 million. By the end of the financial year, IAG expects this figure to increase to somewhere between $720 million and $743 million. IAG budgeted for only $658 million in natural disaster claims at the beginning of the financial year, then upped this to between $660 million to $700 million in a previous market update.

On Monday, the Insurance Council of Australia declared the Victorian flooding a “catastrophe”. news.com reports this means insurers will now “escalate and prioritise” policyholders who have been impacted by the disaster.

The IAG share price is still sitting above yesterday’s close, however, despite these increased costs to the company.

Management commentary

IAG Executive General Manager Direct Claims Luke Gallagher urged customers to stay safe when inspecting property damage:

Floodwater is extremely dangerous, so please take every precaution. We have assessors and builders on the ground ready to ensure our customers’ properties are safe and secure. [IAG] will contact those impacted to book in property assessments, so repairs can begin as soon as possible. We can also arrange emergency accommodation and provide immediate financial assistance for customers in need.

IAG share price snapshot

Over the past 12 months the IAG share price has decreased by more than 12%. Over the past three months, however, IAG shares have seen a 10% increase.

IAG has a current market capitalisation of $12.7 billion.

The post What moved the IAG (ASX:IAG) share price today? appeared first on The Motley Fool Australia.

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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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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out three ASX dividend shares brokers think investors should buy:

Mineral Resources Limited (ASX: MIN)

According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this iron ore and lithium company’s shares to $73.00. The broker made the move after increasing its iron ore forecasts materially. This is expected to lead to strong earnings in the near term and generous dividend payments from Mineral Resources. In respect to the latter, it is forecasting dividends of $3.32 per share and $3.05 per share over the next two financial years. Based on the current Mineral Resources share price of $48.87, this will mean fully franked yields of 6.8% and 6.2%, respectively.

Mirvac Group (ASX: MGR)

Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this property company’s shares to $3.30. According to the note, the broker believes that the market is undervaluing Mirvac’s office portfolio. Particularly given its exposure to the recovering Sydney market. Morgan Stanley expects dividends of 9.9 cents per share in FY 2021 and 11.2 cents per share in FY 2022. Based on the current Mirvac share price of $2.95, this will mean yields of 3.35% and 3.8%, respectively.

Suncorp Group Ltd (ASX: SUN)

A note out of Citi reveals that its analysts have retained their buy rating and $11.80 price target on this insurance and banking giant’s shares. According to the note, although Citi has reduced its earnings estimates slightly to reflect insurance claims from the severe weather in Victoria, it still believes there is scope for a special dividend in FY 2021. It also suspects that there could be collective provision releases coming that might not be factored into estimates presently. Citi is forecasting dividends of 61 cents per share in FY 2021 and 58 cents per share in FY 2022. With the Suncorp share price currently fetching $11.32, this implies fully franked yields of 5.4% and 5.1%, respectively, over the next two years.

The post Top brokers name 3 ASX dividend shares to buy 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. 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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A free trade agreement between Australia and the United Kingdom has been agreed this week. It could affect some ASX shares. 

According to reporting by various media, including The Australian Financial Review, it is the Australian agricultural sector which could be one of the main Australian beneficiaries, with tariff reductions on wine, meat, dairy goods and rice to the UK.

Cars

Meanwhile, British products like Whiskey and cars will be cheaper in Australia. British made cars, including brands such as Mini and Jaguar, will have tariffs instantly removed.

ASX shares that sell cars include Autosports Group Ltd (ASX: ASG) and Eagers Automotive Ltd (ASX: APE).

Farmworkers

British farmworkers will be able to work in Australia under a specialist visa. Australia’s international border has been largely shut to potential overseas farmworkers because of COVID-19.

One of the largest horticultural businesses in Australia is Costa Group Holdings Ltd (ASX: CGC).

Beef and sheep

According to the reporting, tariffs will be removed over the next decade, with duty-free quotas increasing over that time. After a decade, a safeguard will be in place for five years, with a 20 per cent tariff levied on exports above the quota.

There are some large Australian farming businesses that work in those two categories. One of the biggest is ASX-listed Australian Agricultural Company Ltd (ASX: AAC).

Winemakers

The AFR reported that Australian wine can be sold tariff-free in the UK once the trade deal comes into effect. This may provide support for the industry after the recent tariffs that have been put on wine by China, which used to be a huge consumer of Aussie wine.

One of the large Australian winemakers is ASX share Treasury Wine Estates Ltd (ASX: TWE).

Dairy

The dairy industry is another sector where the tariffs will be changed. According to reporting, dairy tariffs will be eliminated after five years, with duty-free quotas steadily increasing during that time.

One of the biggest dairy businesses in Australia is Bega Cheese Ltd (ASX: BGA).

Commentary on this deal

At the end of a BBC article covering the free trade agreement, the article concluded with:

The deal marks the end of what has essentially been a 50-year lock-out for Australian farmers, who have struggled to navigate Brussels’ restrictions, tariffs and quotas.

The president of the Australian National Farmers’ Federation said it had been very difficult to break into the UK because it was “way too expensive and way too far”.

Australian farmers have also been looking to diversify due to the increased tensions between Australia and China. In the past year, China has imposed tariffs and restrictions on everything from Australian beef, barley and wine, to rock lobster and coal.

The post What ASX shares might be affected by the UK-Australia trade deal? 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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Treasury Wine Estates 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 Suncorp Group Ltd (ASX: SUN) share price reached a new 52-week high of $11.47 earlier this afternoon.

Since then, the Suncorp share price has drifted lower and is swapping hands for $11.33 at the time of writing. That’s still 1.16% higher than yesterday’s close.

The boost in the Suncorp share price comes despite the company not releasing any news today.

However, yesterday Suncorp updated the market on an influx of claims to the financial brand’s insurance services from Victorians affected by the state’s recent severe wet weather.

Latest news

The company informed the market that as of Monday evening, it had received about 3,750 claims resulting from heavy rain, severe winds, and flash flooding in parts of Melbourne and regional Victoria. Most of the claims relate to property damage.

Suncorp stated it expects the number of Victorian claims to continue rising over the coming weeks.

The company is already $40 million over its year-to-date allocated budget of $915 million for natural hazards. It is also $5 million over its entire 2021 budget of $950 million for natural hazard claims.

In the year to 31 May, Suncorp has forked out $955 million for natural hazards claims in Australia and New Zealand. This excludes associated risk margins and claims handling expenses.

Suncorp share price snapshot

The Suncorp share price has been performing well on the ASX lately.

Currently, it’s up 15% year to date. It has also gained 20% since this time last year.

The company has a market capitalisation of about $14.5 billion, with approximately 1.28 billion shares outstanding.

The post Suncorp (ASX:SUN) share price hits new 52-week 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 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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Dogecoin (CRYTO: DOGE) is perhaps best known for its image of a Shiba Inu on its logo. It’s also well-known as the crypto that was created as a bit of a joke back when it was forked from Litecoin in December 2013.

But for all that, Dogecoin would likely have faded to obscurity by now if not for its astounding price gains in 2021.

How astounding?

On 25 January Dogecoin was trading for 0.84 US cents. By 7 May, when the token peaked, it was worth 68.5 cents. That’s a gain of some 8,055% in less than 4 months.

Of course, crypto investors who bought in on 7 May are currently nursing some hefty losses. At the time of writing, Dogecoin is worth 31.8 US cents. A healthy reminder of the wild volatility inherent amongst most non-stable coin cryptos.

Even with the big retrace though, Dogecoin remains up 3,686% since 25 January. And with Tesla Inc (NASDAQ: TSLA) boss Elon Musk continuing to drop its name in tweets, you’ll likely hear more about the dog themed token.

The best performing dog themed crypto of the day isn’t Dogecoin

Dogecoin isn’t the best performing among the top 100 cryptos today. In fact, it’s not even the best performing dog themed crypto of the day.

The Dogecoin price is down 3.5% at time of writing. It’s in good company, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) also in the red.

Today’s best performing crypto, by a small landslide, is Shiba Inu (CRYPTO: SHIB), according to data from CoinMarketCap.

At the current price of US 0.000916 US cents, Shiba Inu is up more than 25% since this time yesterday. With a market cap of US$3.5 billion, it’s now the 30th largest crypto in existence.

And yes, its logo is the same canine species as Dogecoin.

What’s driving Shiba Inu’s price gain?

You’ve probably heard of Dogecoin. But if you haven’t heard of Shiba Inu, you’re not alone.

The dog themed token was created in August 2020 and is verified on the Ethereum blockchain. Claiming it has the potential to deliver outsized gains amongst cryptocurrencies, Shiba Inu is billed as “the Dogecoin killer” on its website.

The recent price gains appear to be linked to an announcement by Coinbase yesterday saying its Coinbase Pro users will be able to trade Shiba Inu tokens by the end of this week. Coinbase users were first able to trade Dogecoin earlier this year.

The post Shiba Inu token tops the 24-hour crypto gainers list…and it’s not Dogecoin! appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Tesla. 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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