Tag: Motley Fool

Despite what this year has put us through, there are a number of S&P/ASX 200 Index (ASX: XJO) shares that have posted huge share price gains during 2020.

These ASX 200 shares are from a range of sectors and have managed to not only survive but to thrive in a year that began with flood, passed through a pandemic, and looks to be ending in political upheaval in the USA.

Here are the top 5 ASX 200 performers so far in 2020, based on share price growth.

5 top-performing ASX 200 shares

As you read these, bear in mind that they are exclusively ASX 200 companies, so companies like Temple & Webster Group Ltd (ASX: TPW) and Redbubble Ltd (ASX: RBL) are not included. 

Afterpay Ltd (ASX: APT)

Unsurprisingly, Afterpay is the leading ASX 200 share so far in 2020. This company has seen its share price grow by 262.7%, year to date. However, if it was purchased it on 23 March, when the ASX bottomed out, the investment would have grown 1074.49%.

Afterpay recently reported that by the end of the first quarter of FY21 it has secured 11.2 million active users. It also recently announced a strategic partnership with Westpac Banking Corp (ASX: WBC). It is available on Apple Pay and Google Pay platforms, and has 68,300 merchants. 

Kogan.com Ltd (ASX: KGN)

Kogan is another unsurprising entrant on this list. This ASX 200 company saw its share price grow by 220.65% from the beginning of the year. Again, had an investor purchased Kogan on 23 March, they would have earned 482.9% by now. As an online retailer Kogan has been a great beneficiary of the pandemic, which sent consumers online in droves. Kogan announced an increase in online sales by 100% in an update midway through the fourth quarter of FY20. The company’s profit for the same period also grew by 130%.

Netwealth Group Ltd (ASX: NWL)

This company saw its share price grow by 134% over the year. Netwealth provides a platform for managing superannuation, self managed super funds, and access to advisors. The company also has its own funds. In fact, during August it rolled out two specialist funds on the Netwealth platform managed by Magellan Financial Group Ltd (ASX: MFG).

Listed in November of 2017, Netwealth is now valued at $4.1 billion. In its first quarter FY21 report, the company announced $34 billion in funds under administration (FUA) and $1.9 billion net FUA inflows.

NextDC Ltd (ASX: NXT)

This data centre operator has seen its share price rise by 119.29% this year so far. It has been in the news recently offering to help Tabcorp Holdings Limited (ASX: TAH) recover from its systems failure on Sunday.

The company is fundamentally an ASX 200 infrastructure company, albeit with a mix of physical assets and digital services. In FY20, NextDC’s total revenues rose by 14%, customers rose by 15%. Moreover, underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 23%. In FY21, the company has advised it expects to see EBITDA rise by 20–24%.

Saracen Mineral Holdings Limited (ASX: SAR)

The Saracen share price has risen by 95.75% this year. At present the gold price is sitting at $2,543 per ounce. With all of the crises during the year investors have rushed, several times, to gold. This includes gold mining companies, and Saracen has benefitted greatly.

The company purchased the Barrick Gold Corp (NYSE: GOLD) stake in the Kalgoorlie Consolidated Gold mines, or the super pit, in November 2019. A month later, Northern Star Resources Ltd (ASX: NST) purchased the other 51%. Less than a year later the two giants of the goldfields have announced a $16 billion merger.

More reading

• Why ResMed (ASX:RMD) and these ASX shares just hit record highs
• ASX 200 hits 8-month high. Here’s why we could go higher from here
• ASX 200 to surge higher after Pfizer COVID-19 vaccine success
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 jumps 1.75% on Monday

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Netwealth. The Motley Fool Australia has recommended Kogan.com ltd and Temple & Webster Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The 5 best-performing ASX 200 shares so far this year appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2U7W7f1

The Fletcher Building Limited (ASX: FBU) share price looks set to take off on Tuesday following the release of a trading update.

Over in New Zealand, the company’s NZX-listed shares are currently up a sizeable 13%.

What was in Fletcher Building’s trading update?

The building products company has started FY 2021 in a positive fashion and delivered growth on both the top and bottom lines.

According to the release, for the four months ended 31 October, Fletcher Building’s group revenue was up 1% on the prior corresponding period.

This was supported by resilient trading conditions in both New Zealand and Australia, particularly in the residential sector. The company notes that demand for new houses has been robust, with 342 units taken to profit in the Residential business, consistent with its objective of achieving 700-800 house sales for the full year.

Things were even better for its earnings, with group earnings before interest and tax (EBIT) before significant items up NZ$80 million or 54.4% to NZ$227 million.

This was driven by a 2.9 percentage point increase in its EBIT margin to 8.4%. Management advised that this margin expansion reflects the operational performance and efficiency programs implemented over the last two years.

At the end of the period the company’s cash flow and balance sheet remained strong, with net debt at NZ$388 million and liquidity of NZ$1.4 billion.

Management commentary.

Fletcher Building’s CEO, Ross Taylor, commented: “Through all the disruption and uncertainty of the past year, our people have adapted and responded superbly, maintaining a focus on delivering for our customers. We were heavily impacted in FY20 by the COVID-19 restrictions, resulting in a significant earnings loss for the Group of NZ$196 million, so we are pleased to have begun the new year well.”

“As we look ahead, our customers are pointing to volumes remaining at current levels through to the start of the new calendar year. However, there is uncertainty in the second half of the financial year, with the impact of broader macro-economic factors on our markets in New Zealand and Australia not yet clear.”

“Also, December and January are always lower trading and earnings months for the Group. At our Annual Shareholders Meeting on 25 November 2020, we intend to provide earnings guidance for 1H21. We will update further on trading conditions at our half-year results announcement on 17 February 2021 and at an investor day planned for May 2021,” he concluded.

More reading

• Why ResMed (ASX:RMD) and these ASX shares just hit record highs
• ASX 200 hits 8-month high. Here’s why we could go higher from here
• News Corp-backed $319m tech company lists on ASX
• 2 ASX dividend shares with above-average yields
• ASX 200 to surge higher after Pfizer COVID-19 vaccine success

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Fletcher Building (ASX:FBU) share price could rocket higher today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/32sYGgg

On Monday the S&P/ASX 200 Index (ASX: XJO) was on form again and stormed to an eight-month high.

While this is a big positive, some shares have been performing even better than the index. So much so, they have just hit record highs.

Here are three high-flying ASX shares:

Ansell Limited (ASX: ANN)

The Ansell share price continued its positive run and hit a record high of $43.17 on Monday. Investors have been buying the health and safety products company’s shares this year due to its strong performance during the pandemic. This has been driven by increasing demand for personal protective equipment. Demand has been so strong that Ansell recently upgraded its guidance for FY 2021. It is now expecting organic growth to be in the double digits and earnings per share to be in the range of 135 cents to 145 cents. The latter is an increase of 7.1% from the low end and 5% from the high end of its previous guidance range of 126 cents to 138 cents.

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price was on form again and hit a new record high of $14.10 yesterday. The data centre operator’s shares have been on fire this year after it experienced a surge in demand for its services. This was driven by the accelerating shift to the cloud caused by the pandemic. Also giving its shares a lift recently was the announcement of a new $1.5 billion debt facility. As well as lowering its cost of debt notably, it has positioned NEXTDC for growth. The latter potentially includes an expansion overseas, given that some of the facility is multi-currency. NEXTDC holds its annual general meeting later this week.

ResMed Inc. (ASX: RMD)

The ResMed share price stormed to an all-time high of $29.92 yesterday. This stretched its year to date gain to an impressive 35%. The catalyst for this latest gain has been the recent release of a first quarter update which smashed expectations. The sleep treatment-focused medical device company reported a 10% increase in revenue to US$751.9 million and a 37% lift in earnings per share to US$1.27. Management advised that it experienced strong demand for ventilators because of the COVID-19 pandemic.

More reading

• Top brokers name 3 ASX shares to sell next week
• Which 5 ASX shares hit 52-week highs on Friday?
• Ansell (ASX:ANN) share price climbs after upbeat AGM update
• These were the best performing ASX 200 healthcare shares in October
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has recommended Ansell Ltd. and ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why ResMed (ASX:RMD) and these ASX shares just hit record highs appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2UbJXli

Yesterday, the S&P/ASX 200 Index (ASX: XJO) hit a new 8-month high, closing at 6,298 points after going as high as 6,301 points during the trading day. It’s the highest level ASX 200 shares have been at since early March. And that was when the ASX 200 was in the midst of a coronavirus-induced freefall.

Blue chip shares like BHP Group Ltd (ASX: BHP), CSL Limited (ASX: CSL) and Fortescue Metals Group Limited (ASX: FMG) helped this happen with huge swings upward. Other ASX 200 shares like REA Group Ltd (ASX: REA) and Domain Holdings Australia Ltd (ASX: DHG) also hit new all-time highs yesterday, pushing the index higher. That follows the ASX 200 having one of its best weeks of the year last week, which saw the index surge by more than 4%.

So whilst these developments are no doubt pleasing for any investor holding ASX shares, there are a few reasons we could see it go higher from here.

Why the ASX 200 could push to new highs

The first is interest rates. Last week, the Reserve Bank of Australia (RBA) slashed the cash rate yet again to yet another all-time low of 0.1% (down from 0.25%). Conventional economic theory tells us that interest rates are directly correlated to higher share prices. That’s because they lower the attractiveness of ‘safer’ investments like cash and fixed-interest assets compared with ASX shares, while simultaneously increasing the availability of credit.

This view is expressed by asset manager Fidelity’s Anthony Doyle, as quoted by the Australian Financial Review (AFR):

In an environment of historic-low bond yields and ultra-easy monetary policy, investors are being encouraged into riskier asset classes to reach for returns…International experience with quantitative easing suggests that the appetite for riskier financial assets will be maintained. This will likely support Australian equity valuations…

Second, the US election last week has produced an outcome that investors have found very favourable. Separate reporting in the AFR quotes Hamish Douglass of Magellan Financial Group Ltd (ASX: MFG), who stated that the outcome from the election represents ‘nirvana’ for investors due to a Democratic president combined with divided party control of congress. The AFR quoted Mr. Douglass as stating “almost the perfect outcome from an investment perspective has been the outcome of this election”.

So we have interest rates at new lows, encouraging borrowing and discouraging alternative investments to ASX shares. Combine that with an outcome from the US election that a top ASX fundie has described as ‘nirvana’ for investors. No wonder the ASX is pushing higher.

More reading

• ASX 200 to surge higher after Pfizer COVID-19 vaccine success
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 jumps 1.75% on Monday
• CSL (ASX:CSL) share price higher after starting COVID-19 vaccine manufacturing
• Leading brokers name 3 ASX shares to buy today

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 hits 8-month high. Here’s why we could go higher from here appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3n9k2XK

A new technology share is listing Thursday on the ASX for a company that you’ve probably used sometime in the last 17 years.

Australian tradesperson matching site Hipages Group Holdings Limited (ASX: HPG) is floating this week with a market capitalisation of $318.5 million. The company has raised more than $100 million in the initial public offer (IPO), at $2.45 per share.

Hipages is a website and mobile app where any Australian can post a task to be done, and tradies will bid to do the work.

Despite its evolution over 2 decades, the original intent for the site remains remarkably intact.

In the early 2000s, co-founder and chief executive Roby Sharon-Zipser and his wife bought a flat just after they married. It required extensive renovations and Sharon-Zipser was intimidated by what they had got themselves into.

“I didn’t know how to project manage, I didn’t know if I could trust the tradies, I didn’t know where to get the tradies, I didn’t know how to pay the tradies,” he told The Motley Fool.

“It was really complicated and we were unhappy. I thought there had to be a business opportunity there.”

He then started to research a business case, which led to a surprising finding.

“Interestingly enough, when I spoke to tradies they were really unhappy as well,” he said.

“They didn’t really understand how to market themselves online. A lot of the technologies and search engines were just getting started. They found it really frustrating – they had a lot of people trying to sell them really expensive products.”

Why the IPO now?

Institutional investors have asked Sharon-Zipser many times about the timing of going public.

Rather than third party factors like the market’s current thirst for tech, public perception of the company and industry maturation were key.

“We’ve started to get the right level of brand awareness. People are now familiar with the technology,” he said.

“We’re at the cusp of technology adoption for what was relatively an unsophisticated category, now wanting to take on technology. And we’ve seen an acceleration of that with COVID-19.”

The Hipages name has also been boosted by its commercial relationship with the hit television renovation show The Block.

What’s Hipages’ moat?

The competitive advantage for Hipages, Sharon-Zipser believes, is that it has few rivals.

“We’re the only platform in Australia totally dedicated to home improvements and home services – and at scale.”

Hipages does have younger rivals such as ServiceSeeking. But Sharon-Zipser said there are no shortcuts in building a substantial directory business, so its first-mover advantage is invaluable.

“We’re talking 10 to 20 years… it takes a huge amount of time to build up a network of trades across the country. And we’ve done that.”

Media giant News Corporation (ASX: NWS) evidently agreed, buying a reported $40 million stake back in December 2015.

Just before the IPO, that piece was worth 30%. Upon the ASX listing on Thursday, News Corp will own 25.7% of all Hipages shares, now worth $81.8 million.

Hipages’ revenue comes from monthly subscription fees from tradies. There is no cost for consumers.

In financial year 2020, the company raked in $46.9 million in revenue, with a net loss of $4.16 million. Pro forma forecast for the current year is $53.9 million revenue and a $1.75 million net loss. 

Hipages’ growth prospects

Sharon-Zipser told The Motley Fool the company has no immediate plans to expand outside Australia.

Apparently his team has a full plate already.

“There are 257,000 trade businesses in Australia. We have 36,000 of them purchasing product off us. We see massive opportunity still in the domestic market.”

As icing on the cake, COVID-19 pandemic’s impact on the home improvements industry was a complete surprise.

“To be fair, I didn’t expect the surge that we’re seeing,” said Sharon-Zipser.

“We all saw a little bit of a wobble in March… But the recovery and turnaround within weeks was a little unexpected.”

More reading

• ASX 200 Weekly Wrap: US election special
• These were the best performing ASX 200 shares last week
• ASX 200 rises again on Friday
• Why the Treasury Wine (ASX:TWE) share price is surging higher today
• Why the News Corp (ASX:NWS) share price has jumped 8%

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post News Corp-backed $319m tech company lists on ASX appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3lgp58r

There are a good number of dividend shares for investors to choose from on the Australian share market.

Two that offer above-average yields are listed below. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

Accent is a footwear-focused retailer which owns retail store brands such as HYPE DC, Platypus, The Athlete’s Foot and Sneaker Lab. Although many retailers have struggled in 2020 because of the pandemic, Accent wasn’t one of them. Thanks largely to its in-demand brands and its growing online business, in FY 2020 the company posted a 7.5% increase in net profit after tax to $58 million.

One broker that is confident this positive form can continue is Morgan Stanley. It believes Accent is well-positioned for long term growth thanks to its store rollouts, strong online offering, and focus on active and casual wear. In light of this, it is expecting the company to increase its dividend to 9.4 cents per share in FY 2021. Based on the current Accent share price, this equates to a fully franked 5.5% dividend yield.

BWP Trust (ASX: BWP)

Another ASX dividend share with an above-average yield is BWP Trust. It is the largest owner of Bunnings Warehouse sites in Australia, with a portfolio of 68 stores. In addition to this, seven of its properties have adjacent retail showrooms that are leased to other quality retailers. Like Accent, BWP was a positive performer in FY 2020. It reported an occupancy rate of 98% and generated annual rental income of $151.4 million.

Given the strength of the Bunnings business, a similarly positive result is expected from the real estate investment trust in FY 2021. Analysts at Ord Minnett, for example, have pencilled in an 18 cents per share distribution over the next 12 months. Based on the current BWP share price, this will mean a yield of 4.3% for investors.

More reading

• 2 ASX dividend shares with 4% yields
• Why I would buy Woolworths (ASX:WOW) and these shares for a retirement portfolio
• Attention value investors: These ASX shares could be very cheap
• Forget savings accounts and buy these ASX dividend shares instead
• Buying these ASX dividend shares could solve your income needs

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended Accent Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 2 ASX dividend shares with above-average yields appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3eG6dx7

“Today is a great day for science and humanity,” said Dr. Albert Bourla, Pfizer Chairman and CEO.

This follows the first set of results from its phase 3 COVID-19 vaccine trial, which provides the initial evidence of its vaccine’s ability to prevent COVID-19.

According to its announcement, the vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis.

This was notably higher than experts had been hoping for, with many suggesting 60% to 70% effectiveness would have been positive.

The study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed.

What now?

Safety and additional efficacy data continue to be collected and a Submission for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) is planned soon after the required safety milestone is achieved. This is currently expected to occur in the third week of November.

The analysis evaluated 94 confirmed cases of COVID-19 in trial participants, but more data is wanted.

As such, the clinical trial will continue through to final analysis at 164 confirmed cases in order to collect further data and characterize the vaccine candidate’s performance against other study endpoints.

Based on current projections, Pfizer expects to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021. The good news for Australia is that the government has previously secured 10 million doses of the vaccine.

How did the market react?

This news has given global markets a major lift, with shares and energy prices surging higher in Europe and the United States overnight.

For example, the DAX jumped 4.9%, the FTSE rose 4.7%, the WTI crude oil price is up 8.8%, and the Dow Jones has stormed 4.3% higher.

Pleasingly for Australian investors, the S&P/ASX 200 Index (ASX: XJO) is expected to follow their lead and storm higher itself this morning.

According to the latest SPI futures, the ASX 200 is poised to open the day a sizeable 56 points or 2.5% higher.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 jumps 1.75% on Monday
• Latest 3 “buy” recommendations from top brokers
• Here’s why ASX gold shares are surging today
• Why the CBA (ASX:CBA) share price and these ASX stocks could get a $100bn boost

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 to surge higher after Pfizer COVID-19 vaccine success appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3pek56n

On Monday the S&P/ASX 200 Index (ASX: XJO) continued its impressive run and stormed higher. The benchmark index rose 1.75% to 6,298.8 points.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX 200 poised to surge higher.

It looks set to be a great day of trade for the Australian share market amid positive vaccine news in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 179 points or 2.8% higher this morning. In late trade on Wall Street the Dow Jones is up 4.75%, the S&P 500 has climbed 3%, and the Nasdaq is up 0.5%.

Pfizer vaccine more than 90% effective.

The catalyst for the strong gains on Wall Street has been a COVID-19 vaccine update by healthcare giant Pfizer. According to its announcement, the vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis. The study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed.

Oil prices jump higher.

It could be a very positive day for energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) after the vaccine news sent oil prices hurtling higher. According to Bloomberg, the WTI crude oil price jumped 8.8% higher to US$40.40 a barrel and the Brent crude oil price is up 7.7% to US$42.50 a barrel.

Gold price crashes lower.

Safe haven assets like gold took a big hit overnight after investor sentiment improved materially. This could be bad news for gold miners including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) on Tuesday. According to CNBC, the spot gold price has sunk 4.65% lower to US$1,861.40 an ounce.

Domain AGM.

The Domain Holdings Australia Ltd (ASX: DHG) share price will be on watch on Tuesday when it holds its virtual annual general meeting. The property listings company is likely to release a trading update with its presentation. Expectations are high after rival REA Group Limited (ASX: REA) smashed expectations with its first quarter update last week.

More reading

• ASX 200 jumps 1.75% on Monday
• Latest 3 “buy” recommendations from top brokers
• Nine (ASX:NEC) share price edges up on rugby union deal
• Here’s why ASX gold shares are surging today
• Why the REA Group (ASX:REA) share price jumped 10% to a record high

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

from Motley Fool Australia https://ift.tt/2IpgL7x

The S&P/ASX 200 Index (ASX: XJO) went up by 1.75% today to 6,299 points.

Strong day for the ASX 200

The ASX 200 had one of its best days in months after the US election was finally called for Joe Biden.

There were a lot of gains today.

The REA Group Limited (ASX: REA) share price went up by 9%, the Nearmap Ltd (ASX: NEA) share price grew by 8.1%, the Zip Co Ltd (ASX: Z1P) share price rose by 7%, the Fortescue Metals Group Limited (ASX: FMG) share price grew by 6.4% and the Mineral Resources Limited (ASX: MIN) share price rose around 6%.

Crown Resorts Ltd (ASX: CWN)

Crown announced some changes for its operations today.

The casino complex at Melbourne has received approval to commence the operation of a limited number of electronic gaming machines and electronic table games in accordance with restrictions agreed with the Victorian government.

The restrictions include restricted operations to ten designated VIP areas, each with a maximum capacity of ten patrons with no smoking permitted. There will be physical distancing between patrons with every second electronic gaming machine and electronic table deactivated. Patrons will be restricted to 90 minutes of activity per day. There will be a COVID-19 marshal for each area and there will be enhanced hygiene protocols.

Gaming operations are expected to commence from Thursday, 12 November 2020 for the ASX 200’s Melbourne operations.

In addition, following the Victorian government’s recent announcements regarding the easing of restrictions in Victoria, select retail outlets re-commenced operations from 28 October 2020, select food and beverage outlets re-commenced operations from 2 November 2020 and Crown Towers Melbourne re-opened today in accordance with the Victorian government’s restrictions.

Crown Aspinalls ceased operations from 5 November 2020 after the government’s announcement of new restrictions in the United Kingdom.

Ken Barton, the Crown CEO, said: “We have been working for some time with the Victorian government and health authorities to determine how we can safely re-open Crown Melbourne and have developed extensive physical distancing and hygiene measures to allow re-opening in a safe manner. We are pleased to be able to commence the process of welcoming back our employees and customers to Crown Melbourne.”

The Crown share price rose by 3.6%.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price fell by around 3% after the company announced that services were largely stored.

There was a major outage which impacted the ASX 200 share’s TAB, Keno and gaming services operations and systems from around 11:30am on Saturday.

Tabcorp has commenced a comprehensive and urgent review into this incident, which will be overseen by the board.

The company said that based on a preliminary assessment, a smoke and likely fire incident at a third-party managed data centre in Sydney resulted in extensive damage to Tabcorp’s servers and associated infrastructure. This led to technical and systems outages, as well as the closure of TAB retail venues.

At this stage, there is no evidence of any potential cyber security issues or customer data breaches.

Lost wagering turnover over the weekend is estimated to have impacted Tabcorp earnings before interest, tax, depreciation and amortisation (EBITDA) by less than $10 million.

Tabcorp managing director and CEO David Attenborough said: “The outage was unacceptable. Tabcorp remains deeply sorry for this and acknowledges the significant disruption caused to our customers, the racing industry and venue partners.

“Our teams and technology partners are continuing to deploy all available resources into restoring the full Tabcorp gambling entertainment experience for our customers and partners.”

It was the worst performer in the ASX 200 today.

More reading

• Latest 3 “buy” recommendations from top brokers
• Here’s why ASX gold shares are surging today
• Why the REA Group (ASX:REA) share price jumped 10% to a record high
• Why this broker has rated Jumbo (ASX:JIN) shares a buy
• Why Alcidion, Avita, BHP, & REA Group shares are storming higher

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 Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia has recommended Crown Resorts Limited, Nearmap Ltd., and REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 jumps 1.75% on Monday appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3kkZZ7b

The CSL Limited (ASX: CSL) share price was a positive performer on Monday and pushed higher with the market.

The biotherapeutics company’s shares ended the day 1% higher at $304.92.

Why did the CSL share price push higher?

As well as getting a boost from improving investor sentiment, CSL’s shares were given a lift by the release of an announcement relating to its COVID-19 vaccine activities.

According to the release, this morning CSL commenced the manufacturing of the University of Oxford/AstraZeneca AZD1222 COVID-19 vaccine candidate at its advanced manufacturing facility in Broadmeadows, Victoria.

This is before the vaccine candidate has even completed its trials or been approved for use.

The company has separate contracts with both AstraZeneca and the Australian Government to manufacture approximately 30 million doses of the AZD1222 vaccine candidate. The first doses are planned for release in the first half of 2021, pending the outcome of clinical trials and regulatory approval.

What now?

According to the release, the manufacturing process will start with the thaw of vials containing vaccine cells. The cells, which were frozen under liquid nitrogen to preserve their integrity, need to be thawed in preparation for replication in the bioreactors at the company’s Broadmeadows facility.

After growing in the bioreactors, the vaccine is then filtered and purified leaving just the antigen, or vaccine product. It is then ready for final formulation and filling into dosage vials.

During 2020/2021, CSL will manufacture eight large scale batches of vaccine drug substance. Should the vaccine demonstrate its safety and efficacy in clinical trials that are currently underway, it is anticipated that it will require a two dose per person regime.

The company notes that the Australian Government has provided support in order to augment its capacity and capability to manufacture the AZD1222 vaccine.

This support has enabled the acquisition of specialised equipment and production inputs, the recruitment, training and redeployment of dozens of additional production personnel, and the reconfiguration of air handling and some structural modification to the manufacturing facilities.

Pleasingly, despite the commencement of these activities, it has been able to maintain commitments to manufacture the company’s vital core biotherapies.

CSL’s Chief Scientific Officer, Dr Andrew Nash, commented: “This is an important milestone and marks the end of many months of around the clock preparation by our skilled personnel globally within CSL Behring, Seqirus and research and development. Both campaigns are still technically challenging but at this time we are tracking well and expect to produce the AZD1222 and the UQ-CSL V451 vaccine for Australia by mid-2021.”

“There’s still a long way to go and our first priority resolutely remains the safety and efficacy of the vaccines we produce. We are undertaking these manufacturing activities at-risk and in parallel with the clinical trials and approvals processes in recognition of the significant urgency of the COVID-19 pandemic,” he concluded.

More reading

• Leading brokers name 3 ASX shares to buy today
• ASX 200 Weekly Wrap: US election special
• 2 ASX healthcare shares to buy today
• Top brokers name 3 ASX shares to buy today
• ASX 200 Weekly Wrap: ASX 200 has another shocker as US election approaches

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post CSL (ASX:CSL) share price higher after starting COVID-19 vaccine manufacturing appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3p9pCvd