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Many Australians tend to view our country as blissfully egalitarian. Aussies are inclined to believe, as a nation, we are largely unencumbered by the massive wealth disparities of the United States, for example, home to nine of the ten richest people on the planet, according to Bloomberg.

We also don’t participate in the classic class divides that our friends over in the United Kingdom do, with their lordships, dukedoms and such. But we are still a country of wealth disparity, as is inevitable in a capitalist economy.

But how wide is this disparity? Well, reporting from The Sydney Morning Herald (SMH) today sheds some light on that question. The report was compiled using data from the Australian Bureau of Statistics and was originally prepared by the Australian Council of Social Services (ACOSS) together with the University of New South Wales.

How wealthy is the average household?

According to the SMH, the richest tenth of households today owns almost half of Australia’s private wealth. Egalitarian indeed.

There is a “comfortable middle” 30% of Australian households that control roughly 38% of the country’s household wealth, which leaves the lowest 60% of Aussie households with just 16% of the pie.

According to the report, the average net worth of a household in that upper echelon reached $4.75 million in FY2018, representing 46% of the total private wealth in the country. This was vastly assisted by growth in property prices, as well as “a disproportionate share of stocks and business investments”.

That “comfortable middle” came in with an average net household worth of $1.3 million. Whereas the bottom 60% averaged a net worth of just $277,000.

These figures include the net value of the family home, as well as superannuation balances. You can see a more detailed breakdown of the SMH’s data here:

Household Income	Share of Total Wealth	Average Wealth	Average Value of Wealth Components
Highest wealth	46%	$4.75 million	Own home (less mortgage): $1.41m Other non-financial assets: $211,000 Superannuation: $897,000 Other real estate (less expenses): $802,000 Shares, business and financial: $1.44m Other debt: -$10,000
‘Comfortable middle’	38%	$1.28 million	Own home (less mortgage): $615,000 Other non-financial assets: $126,000 Superannuation: $297,000 Other real estate (less expenses): $104,000 Shares, business and financial: $164,000 Other debt: -$8,000
Lower wealth	16%	$277,000	Own home (less mortgage): $120,000 Other non-financial assets: $56,000 Superannuation: $69,000 Other real estate (less expenses): $13,000 Shares, business and financial: $28,000 Other debt: -$56,000

Data: SMH and ACOSS/NSW, Table: Author’s Own

What about income?

The report also finds that income disparity is not as divergent compared to household wealth. It indicates that the highest-earning 20% of households had an average pre-tax income of just under $300,000 per annum, with the middle 20% coming in at $116,000 and the bottom 20% at $41,000.

However, it also notes that investment income is “highly concentrated at the top end”, with around two-thirds going to the wealthiest 20% of households, compared to 44% of wage/salary income. That’s an average of $1,000 a week from investment income. This disparity is something we Fools think should change! Hence our mission to bring the joys of investing to as many people as possible.

So now you know where you and your household stands compared to your fellow Australians. Hopefully, this report provides some insight and perspective into how wealth and income are sloshed around in our ‘lucky country’.

More reading

• 3 AGM highlights lifting the Nufarm (ASX:NUF) share price today
• ASX 200 down 0.6%: Mesoblast crashes lower, Qantas & Flight Centre tumble, NAB AGM
• Amazon has a new strategy to capture India’s e-commerce market
• 4DMedical (ASX:4DX) share price is climbing today on positive update
• Why Mesoblast, Paradigm, Qantas, & QBE shares are tumbling lower

Motley Fool contributor Sebastian Bowen 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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Agrochemicals company Nufarm Limited (ASX: NUF) has reported its revenues for October and November were up 47% on the comparative period last year. This follows a 23% revenue growth in September, the company said in a bullish trading update at its annual general meeting (AGM) this morning. 

The Nufarm share price has reacted positively to the news, trading up more than 2% to $4.23 at the time of writing.

3 AGM highlights driving the Nufarm share price today

Firtly, the revenue growth numbers just mentioned. Nufarm says that this growth was driven primarily by stronger demand in Australia and Europe. In particular, its European Nuseed business. With continuing better pricing from suppliers, the company expects to deliver even better earnings from the region as the year progresses.

The second major highlight was the “significant milestone” the company achieved in selling its South American crop protection business to Sumitomo Chemical Company earlier this year. That sale has allowed the company to refocus its resources into regions and businesses through which it can generate better long-term growth, such as Europe.

Thirdly, Nufarm is working to reduce its cost base to improve margins and provide a buffer against unforeseen headwinds. The company is targeting $20 million to $25 million of cost savings by the end of financial year 2022. Around $10 million to $15 million of the savings are to come from the European business.

What does Nufarm do?

With origins dating back more than 100 years, Nufarm is a global manufacturer of crop protection solutions and seeds. 

Nufarm’s products are designed to protect commercial crops from a variety of pests, weeds, and diseases, thereby maximising crop yields.  It first listed on the ASX in 1988. 

Nufarm share price performance this year

The Nufarm share price has lost almost 30% in 2020. The company recorded a statutory net loss after tax of $456 million for the full year FY20. This was attributed to weak seasonal conditions faced in the first 6 months and the effects of COVID-19.

The company has continued to suspend all dividends until further notice, with the board saying it would revisit this decision in future based on the prevailing market conditions.

Nufarm commands a market cap of $1.5 billion.

More reading

• Why Bapcor, Fortescue, Nufarm, & Saracen shares are pushing higher
• 5 things to watch on the ASX 200 next week
• Morgans picks the best ASX stocks to buy for 2021
• Why the Nufarm (ASX:NUF) share price is up this morning

Motley Fool contributor Eddy Sunarto 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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At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a day in the red. The benchmark index is currently down 0.6% to 6,716.6 points.

Here’s what has been happening on the market today:

Travel shares tumble.

Travel shares such as Flight Centre Travel Group Ltd (ASX: FLT) and Qantas Airways Limited (ASX: QAN) are tumbling lower today. This appears to have been driven by news that the COVID-19 outbreak in New South Wales has continued to grow. This resulted in Western Australia closing its border to the state on Thursday night. There are now concerns that other states will soon follow suit, which could delay the domestic travel market recovery.

Mesoblast shares crash lower.

The Mesoblast limited (ASX: MSB) share price is crashing lower on Friday after the release of a disappointing update in relation to its COVID-19 trial. The release reveals that the biotech company’s trial is unlikely to meet its 30-day mortality reduction endpoint. As a result, the US Data Safety Monitoring Board has effectively told the company to end the trial early and recruit no further patients. Management suggested that changes in the treatment regimens for COVID-19 patients are to blame.

NAB annual general meeting.

The National Australia Bank Ltd (ASX: NAB) share price is dropping lower on the day of its annual general meeting. This appears to be down to broad market weakness rather than anything that went on at the event. In fact, NAB spoke positively about the future at its meeting. CEO, Ross McEwan, said: “While revenue headwinds from low credit growth and ultra-low interest rates remain, we see opportunities for growth in our core banking businesses; NAB, BNZ and UBank. As we lift performance, we expect to have the opportunity to return more profit to you, our shareholders.”

Best and worst ASX 200 performers.

The Blackmores Limited (ASX: BKL) share price is the best performer on Friday with a 4% gain. The health supplements company’s shares have rebounded after a sizeable decline on Thursday. The worst performer has been the Mesoblast share price with a 35% decline. This follows its COVID-19 trial update.

More reading

• Why Mesoblast, Paradigm, Qantas, & QBE shares are tumbling lower
• Qantas (ASX:QAN) dobbed in to ACCC by rival
• The QBE (ASX:QBE) share price has plummeted 9% today. Here’s why
• Why the Mesoblast (ASX:MSB) share price crashed 45% lower today
• Are ASX stocks in for an M&A frenzy in 2021?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Flight Centre Travel 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

India’s over-the-top (OTT) video streaming market is about to take off in the coming years, according to a report by PricewaterhouseCoopers, clocking a compound annual growth rate of 28.6% through 2024, when it is expected to be worth $2.9 billion.

Not surprisingly, there are several contenders looking for a piece of India’s video streaming space, as it is currently the fastest-growing OTT market in the world. The likes of Walt Disney Co (NYSE: DIS) and Netflix Inc (NASDAQ: NFLX) have been making aggressive moves in the country, but e-commerce giant Amazon.com Inc (NASDAQ: AMZN) is looking to stay on top in this space.

Let’s take a closer look at what Amazon is doing with its Prime Video service in India and why it could be a big deal for the company in the long run.

Amazon makes a smart move to reach more streaming customers

According to third-party estimates, Amazon’s Prime Video service is already in a solid position in India’s OTT market, with a 20% share. That’s equal to Netflix’s share and slightly higher than the 17% held by Disney+/Hotstar.

Amazon, however, looks capable of pulling ahead of its close rivals thanks to the addition of live cricket coverage in India. The company recently landed the streaming rights to stream cricketing action involving the New Zealand national team in India for a period of five years, until 2026. What’s more, Amazon is open to acquiring more cricket streaming rights, which is not surprising given how popular the game is in India.

The Broadcast Audience Research Council says that cricket attracts 93% of sports viewers in the country. This year, the Indian Premier League (a domestic tournament) saw a 24% jump in viewership, to a cumulative 383 billion minutes. As such, it won’t be surprising to see Amazon go after the more lucrative prize — the Indian Premier League — when the current streaming rights held by Disney expire in 2023.

It is estimated that Disney’s ownership of the Indian Premier League streaming rights could help it exit 2020 with 28 million subscribers, eclipsing Amazon Prime Video’s 17 million subscribers and Netflix’s 5 million subscribers. This is why it is important for Amazon to bring live sports action — especially cricket — to consumers in India.

More importantly, Amazon has the financial firepower to land the big prize, as the Indian Premier League rights were sold for $2.6 billion in 2017. Amazon has already invested $6.5 billion in India so far and has announced a couple of big investments in 2020 to the tune of nearly $4 billion. So, Amazon can be expected to fight for more lucrative cricket tournament rights in India in the coming years.

The bigger play

India’s video streaming market may not be enough to move the revenue needle in a significant way for Amazon, given that the company has generated close to $350 billion in revenue over the past year. But it could give consumers another reason to get into Amazon’s ecosystem by purchasing a Prime membership, and boost the company’s e-commerce business.

Amazon reportedly has around 10 million Prime members in India. The number of Prime memberships could go up rapidly once Amazon doubles down on cricket streaming in India, because of the game’s popularity. This could also give the company’s e-commerce business a shot in the arm, as the Amazon Prime membership not only includes access to video content, but also gives users access to other services such as faster deliveries for free, music, and gaming, among others.

The bottom line is that Amazon could bring more users into its ecosystem in India with the help of cricket streaming, and that could eventually turn out to be a big number. The number of OTT video users in India is expected to hit 452 million in 2025, indicating that Amazon has a big opportunity ahead of it to boost Prime memberships and e-commerce revenue. That’s because Amazon’s Prime members reportedly spend more money on the company’s e-commerce platform when compared to non-Prime members.

According to a third-party survey carried out in the U.S., Prime members have been found to spend $1,400 on average annually on Amazon as compared to $600 for non-Prime members. As a result, the addition of new Prime members in the coming years thanks to the addition of popular content such as cricket streaming could unlock e-commerce riches for Amazon in India.

Amazon holds around 30% of India’s e-commerce market, which is expected to top $100 billion in revenue by 2024. The addition of popular sports such as cricket to Amazon’s Prime Video programming could help the company bump up its market share in India and also drive additional spending from customers. So, don’t be surprised to see Amazon’s move into cricket streaming reap rich dividends for the company’s e-commerce business in India in the long run by adding billions to its revenue, both directly and indirectly.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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• Amazon stock: Buy, sell, or hold going into 2021?
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Harsh Chauhan has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon, Netflix, and Walt Disney and recommends the following options: short January 2021 $135 calls on Walt Disney, long January 2022 $1920 calls on Amazon, long January 2021 $60 calls on Walt Disney, and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon, Netflix, and 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The 4DMedical Ltd (ASX:4DX) share price is soaring higher today as the company announced it completed its first commercial scan in Australia. In early trade, the 4DMedical share price shot up 6.1% to $2.24 but has since retreated to $2.19, up 3.79% at the time of writing.

What does 4DMedical do?

4DMedical is a Melbourne and Los Angeles-based software technology company commercialising its patented imaging platform, XV Technology.

This four-dimensional lung imaging technology utilises mathematic models and algorithms to convert X-ray scans into quantitative data. Physicians are then able to use this information to manage patients with respiratory and lung diseases.

The respiratory diagnostic sector represents a global market of more than US$31 billion per year.

What did 4DMedical announce?

In today’s release, 4DMedical advised that it has successfully completed the first XV lung ventilation analysis software (XV LVAS) scan to a patient. Conducted in Victoria, Australia, the accomplishment occurred ahead of schedule. The delivery of the first XV LVAS arrived in September, 2020, six months earlier than planned.

As a result, 4DMedical will now move to roll-out its infrastructure from early 2021. The XV LVAS is expected to be installed within hospitals and imaging centres across the country, offering greater accessibility for all patients.

All facilities with XV LVAS will be able to offer 4DMedical’s lung report for both inpatient and outpatient care. This in-turn will maximise the number of addressable patients for the company, effectively increasing revenue streams.

Management commentary

4DMedical CEO Andreas Fouras welcomed the progress, saying:

We’re pleased to hit yet another milestone ahead of schedule and see our end-to-end SaaS clinical solution perform flawlessly in a real-world setting.

COVID-19 has seen traditional spirometry assessments shut down and our technology also provides an excellent alternative for patients who need regular and more detailed lung health assessments.

While this might be our first ever Australian patient report, we expect to scale up quickly and begin to make a real difference to lung health in Australia.

How has the 4DMedical share price performed?

Since debuting on the ASX in August at a price of 73 cents, the 4DMedical share price has gone from strength to strength. For investors who picked up shares before the listing, they would be sitting on returns of more than 206%.

The company’s sharesreached an all-time high of $2.98 just 2 months ago, and are hovering 24% below.

More reading

• Why the 4DMedical (ASX: 4DX) share price is rocketing 8% today

Motley Fool contributor Aaron Teboneras 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 S&P/ASX 200 Index (ASX: XJO) looks set to end the week in a disappointing fashion. In late morning trade the benchmark index is down a sizeable 0.75% to 6,706.3 points.

Four shares that have fallen more than most today are listed below. Here’s why they are tumbling lower:

Mesoblast limited (ASX: MSB)

The Mesoblast share price has crashed 35% lower to $2.44. Investors have been heading to the exits after it revealed that its COVID-19 trial was unlikely to meet its 30-day mortality reduction endpoint. In addition to this, the US Data Safety Monitoring Board advised Mesoblast to essentially end the trial early and recruit no further patients. Management has suggested that changes in the treatment regimens for COVID-19 patients are to blame for the trial’s failure.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price has dropped 3% to $2.46. This is despite the biopharmaceutical company announcing that it has received feedback from the US Food and Drug Administration (FDA). This is in relation to its Zilosul product for the treatment of osteoarthritis. Investors may be disappointed that it will be over two years until the results of its Zilosul trial are available.

Qantas Airways Limited (ASX: QAN)

The Qantas share price is down 5% to $4.83. A number of travel shares have come under pressure today after the COVID-19 outbreak in New South Wales continued to grow. Western Australia has closed its border to the state and there are concerns that other states will soon follow suit. Border closures could possibly delay the recovery in the domestic travel market.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price has dropped 8.5% to $9.11. This follows the release of its guidance for FY 2020. According to the release, the insurance giant expects to report an adjusted net cash loss after tax of approximately $780 million. This includes a pre-tax impact of $470 million from COVID-19 costs. There are also additional claims from trade credit, lenders’ mortgage insurance, casualty classes and business interruption.

More reading

• Qantas (ASX:QAN) dobbed in to ACCC by rival
• The QBE (ASX:QBE) share price has plummeted 9% today. Here’s why
• Why the Mesoblast (ASX:MSB) share price crashed 45% lower today
• Why the Paradigm (ASX:PAR) share price is pushing higher today
• Qantas (ASX:QAN) didn’t rort JobKeeper, rules court

Motley Fool contributor James Mickleboro 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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Regional Express Holdings Ltd (ASX: REX) has dobbed in Qantas Airways Limited (ASX: QAN) for alleged anti-competitive practices.

Rex traditionally services regional and rural destinations but in March will start flying between Sydney, Melbourne and Brisbane in direct competition with Qantas, Jetstar and Virgin Australia.

In response, Qantas is planning to start some regional routes that it had not serviced before.

Rex on Friday accused its larger rival of “choosing to incur huge losses” on rural routes to “destroy incumbent regional operators”.

“The ACCC has been alerted to these actions,” stated Regional Express.

“Rex believes these actions are clearly anti-competitive and particularly unconscionable at a time when Qantas is receiving almost $1 billion of federal [government] assistance, while laying off thousands of workers under the pretext of reducing losses.”

All airlines are currently receiving government grants to keep services operating on economically unviable routes during the COVID-19 downturn.

Regional Express called for the federal government to stop providing Qantas this subsidy if it “persists with this opportunistic behaviour”.

The Motley Fool has contacted Qantas and the ACCC for comment.

Not enough demand for 2 airlines, says Rex

Rex cited Qantas’ announcement of a Sydney to Orange service as an example of deliberate loss-making.

“The Sydney–Orange market, which is barely big enough for one operator, [had] pre-COVID patronage of 65,000 annual passengers,” the company stated.

“Since its start of operations on 20 July 2020, at the height of the pandemic in Australia, it managed an average of only 10 passengers per flight, even for only 2 return services a week!”

The meagre annual patronage of other routes Qantas is starting on, according to Rex, are:

• 41,000 for Adelaide-Kangaroo Island
• 36,000 for Sydney-Merimbula
• 36,000 for Melbourne-Mt Gambier
• 5,500 for Adelaide-Mildura

Such incursions into its heartland, Rex warned, would have a “long-term negative impact” on regional areas.

“Unlike Rex, which has a long track record of providing a sustainable air service to regional and remote communities around Australia, Qantas is well known for quickly dropping a route once it no longer serves its strategic objectives,” Rex stated.

“If Qantas succeeds in driving Rex away from these routes, there is every possibility they will never have a regional service again when they are no longer relevant to Qantas.”

Regional Express’ share price has risen almost 50% since the start of October as its plans to fly between big cities ramped up. It’s currently down 6.37% in morning trade, to sell for $1.91.

Qantas shares were also down 4.9%, trading at $4.85 at the time of writing.

Corporate regulator Australian Securities and Investments Commission earlier this week reprimanded Rex for disclosing sensitive information to a journalist before telling the ASX.

The airline is now banned from releasing reduced-content prospectuses for raising capital on the exchange.

Rex has publicly disagreed with ASIC’s decision and reasoning.

More reading

• Why Mesoblast, Paradigm, Qantas, & QBE shares are tumbling lower
• Qantas (ASX:QAN) didn’t rort JobKeeper, rules court
• REX told off for blabbing to media rather than ASX
• Why Beacon Lighting, Flight Centre, REX, & Resolute Mining are shooting higher
• Why the Regional Express (ASX:REX) share price is soaring 10% higher today

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Perseus Mining Limited (ASX: PRU) shares are on the rise this morning after the company announced it’s poured the first gold at its Yaouré Gold Mine five weeks ahead of plan. At the time of writing, the Perseus share price is up 1.54% to $1.32 in morning trade.

What did Perseus report?

This morning, the Perseus share price is pushing higher after the company advised it now expects to declare commercial production at its Yaouré Gold Mine in the Ivory Coast in the March 2021 quarter. Perseus also forecasts its first shipment of gold from the mine to occur in the same quarter.

Furthermore, the company revealed it believes it can increase its annual gold production to at least 500,000 ounces by the 2022 financial year (FY2022).

Commenting on the results, Perseus CEO Jeff Quartermaine said:

Pouring our first gold at Yaouré yesterday represented the achievement of a major milestone in the construction and commissioning of Perseus’ third gold mine. It also represented the delivery of another promise made to shareholders by Perseus’s management team, namely, to achieve its stretch target of first gold at Yaouré in December 2020…

We are now looking forward to achieving our next target of increasing our production to more than 500,000 ounces of gold per year at a cash margin of not less than US$400 per ounce in FY2022. We will also extend our capacity to consistently produce gold at these levels for many years to come by organically increasing our Ore Reserve inventory through successful near-mine exploration programs across our three mines.

Perseus share price and company snapshot

Perseus is a gold explorer and miner operating in Ghana and the Ivory Coast. Following on the successful development and commissioning of its Yaouré mine, the company will own and operate three gold mines, Edikan, Sissingué and Yaouré, across the two African nations .

Like most every share on the ASX, Perseus got hammered during the COVID driven market panic earlier in the year. The Perseus share price fell 44% from 21 February through to 13 March. Since the March low, Perseus shares are up 85%.

Year to date, the Perseus share price is up 13%. That compares to a 1% gain on the broader S&P/ASX 200 Index (ASX: XJO).

More reading

• ASX 200 drops on Friday
• Is it too late to buy the surging Bega (ASX:BGA) share price?
• ASX 200 rises more than 1% on Tuesday

Motley Fool contributor Bernd Struben 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 QBE Insurance Group Ltd (ASX: QBE) share price has dropped this morning after a company update on expected results for the 2020 financial year (FY20).

QBE will report its confirmed FY20 results to the market on 19 February 2021. At the time of writing, the QBE share price has dropped 9.35% to $9.02.

The $1.5 billion reason why QBE share price is sinking

In this morning’s update on QBE’s 2020 financial year expectations, the insurance giant advised it expected a full FY20 adjusted net cash loss after tax of approximately $780 million.

It listed pre-tax impacts of $470 million from COVID-19 costs. There included additional claims from trade credit, lenders’ mortgage insurance, casualty classes and business interruption.

QBE also reported a $130 million impact from elevated catastrophe costs. It expects total catastrophe costs to be around $680 million. That’s $130 million above its $550 million annual allowance. QBE said this figure is now well into the its catastrophe aggregate reinsurance program.

Atop this, the company expects to take a hit of $360 million from prior accident year claims development, up from $120 million as at 30 June.

Add in a $520 million impact from the non-cash writedowns of its North American goodwill and deferred tax assets, plus another $100 million of real estate and IT writedowns, and QBE now forecasts an expected statutory net loss after tax of around $1.5 billion.

Addressing the company’s reported expectations, QBE interim group CEO Richard Pryce said:

While I am very disappointed with the headline statutory loss, I am increasingly confident about the pricing cycle, particularly in the northern hemisphere, and the outlook for the underlying business. Premium rate momentum accelerated in North America and International during 3Q20 and the FY20 attritional claims ratio is expected to improve further from 45.5% reported in 1H20.

As we move into 2021, my focus remains on ensuring the group takes full advantage of currently favourable market conditions by locking in margin expansion while driving targeted growth in portfolios and regions offering the most profitable new business opportunities. Our balance sheet remains strong and able to fund expected growth.

QBE share price snapshot on 2020

QBE started the year strongly, with the share price gaining 17% by 21 February. It was then hit hard by the COVID-19 market panic, with shares falling 52% from that 2020 high through to the 23 March low.

Year-t0-date, the QBE share price is down 23%. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 1%.

More reading

• Are ASX stocks in for an M&A frenzy in 2021?
• 5 things to watch on the ASX 200 on Friday
• ASX 200 rises on Thursday
• Leading broker just upgraded these ASX gold stocks to “buy”
• ASX stock of the day: Why are Netwealth (ASX:NWL) shares up 7%?

Motley Fool contributor Bernd Struben 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 EMVision Medical Devices Ltd (ASX: EMV) share price has had a bumper week so far. Shares in the medical imaging company are up by 1.94% today, on the back of a week of gains. At the time of writing, the EMVision share price is up by 9.7% since the opening bell on Monday morning.

A week of good news for EMVision

EMVision’s gains this week come after the company announced on Monday that it had received a $1.28 million cash refund for the financial year ending 30 June 2020. The incentive was paid to EMVision in relation to its research and development (R&D) work.

This brings EMVision’s cash reserves to $13.1 million. Cash balance is of particular interest when looking at companies involved in R&D, where there are often gaps of time in between project developments.

On Thursday morning, EMVision announced the appointment of Professor Stuart Crozier as Chief Scientific Officer, noting that he is “globally recognised for his breakthroughs in Magnetic Resonance Imaging (MRI)”.

Professor Crozier will now lead R&D efforts of EMVision’s novel imaging products.

So what exactly does EMVision do?

Some Fools might recall us going into detail about what EMVision gets up to back in October. The company website states that EMVision “is developing a portable brain scanner for rapid, point of care, Stroke Diagnosis and Monitoring”.

If that sounds complicated, it’s probably because it is! Put simply, EMVision is working toward a solution that will support people suffering from a stroke, on-site. The company is currently developing a portable brain scanner that could save significant time diagnosing a stroke, therefore potentially lessening the impact of the stroke itself. 

According to a clinical trial result the company announced back in October, “It was observed that the EMVision device was able to classify stroke type (haemorrhagic or ischaemic) with an overall accuracy of between 93.3% and 96%.”

More on the EMVision share price

EMVision shares have had an impressive 12 months. Year-over-year, the share price has rocketed over 300%. During its December 2018 IPO, EMVision’s price was 25 cents a share. Lately, EMVision shares are trading in the $3 range, sitting at $3.16 at the time of writing.

With a market cap of around $213 million, EMVision certainly isn’t the biggest player on the field, but it seems to be garnering plenty of attention since joining the game. 

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The post Here’s why the EMVision (ASX:EMV) share price is up 9% this week appeared first on The Motley Fool Australia.

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