QBE Insurance Group Limited’s [ASX:QBE] stock price dropped this morning by 0.15c, sitting at AUD$9.76 at time of writing. Climate change is continuing to challenge the insurance industry, as unpredictable weather events and catastrophes increase. The randomness and intensity is extremely complex to price.
AMP Limited’s [ASX:AMP] stock price dropped by 3.13% this morning, sitting at $3.56 at time of writing. But it hasn’t been a positive year for the financial services company, with steady decline and a major drop since May this year. AMP has fallen by nearly a third since the inquiry, a valuation loss of nearly two billion dollars.
It’s been a scandalous week for AMP in light of startling confessions to the royal commission, four separate class actions and the hostile media frenzy that has followed.
AMP is now facing the Royal Commission into the banking industry, along with the Big Four banks. The finance advice and management giant is being investigated for unsuitable financial advice, improper conduct and inappropriate fees.
Blue Sky Limited [ASX:BLA] shares have dropped by nearly 20% today. Currently trading at US $8.47, down from $10.40 on 28 March. The investment fund’s share price plunged by 9% before it went into a trading halt on Wednesday, 28 March — from $11.43 to $10.40.
The Reject Shop has brought customers back into their stores by increasing the availability of everyday items such as laundry powder and tissues. They have reported back a $17.7 million first half profit, which is an increase from their prior $16 million profit outcome.
These issues impacted Orica’s productivity rate and earnings. Increased competition are forcing higher input prices in the cyanide market, as a result margins are being driven down.
Westpac’s Chief Financial Officer Peter King thinks Australian banks are not highly profitable.He believes that even though banks are earning huge dollar amounts, this does not mean they are turning over a high profit.
This morning Bubs Australia Ltd [ASX:BUB] rose 11.45% maintaining their consistent rise in stock value.
Despite their consistent rise in share value last year, Zelda Therapeutics [ASX:ZLD] have sunk by 10% for the day, at the time of writing.