市场见解

So far, so good for the AMP (ASX:AMP) share price in November. Here’s why

The week just been was a good one to be an AMP shareholder…
The post So far, so good for the AMP (ASX:AMP) share price in November. Here’s why appeared first on The Motley Fool Australia. –

The AMP Ltd (ASX: AMP) share price has had a great start to this month after the company announced it’s agreed to complete the divestment of its life insurance and mature business.

AMP will receive $524 million in exchange for its 19.3% stake in Resolution Life Australia.

As of Friday’s close, the AMP share price is $1.18, 9.26% higher than it finished the final session of October.

Let’s take a closer look at the latest news to boost the financial services company’s share price.

AMP agrees to finalise life insurance divestment

The AMP share price soared 9.3% on Wednesday after it announced it has entered into an agreement to sell its stake in Resolution Life Australia to Resolution Life Group.

The sale is the final step of AMP’s divestment of AMP Life.

AMP sold AMP Life to Resolution Life Group for $3 billion in July 2020.

Of the $3 billion, $2.5 billion was provided to AMP as cash and $500 million came in the form of a stake in Resolution Life Australia, the holding company that became the owner of AMP Life.

As part of the agreement, AMP and Resolution Life Australia will also settle some post-completion adjustments and claims between the parties.

The adjustments and claims have resulted in AMP paying $141 million to Resolution Life Australia. AMP had already provisioned for some of the costs. Though, it will still record a one-off expense of around $65 million in 2021.

However, the company claims the divestment will strengthen its available capital by approximately $459 million. It will also allow it to be flexible ahead of its planned demerger of AMP Capital’s Private Markets business.  

The divestment is expected to be completed in the first half of 2022.

AMP share price snapshot

This month has been good for the AMP share price so far. Sadly, it hasn’t been enough to boost it out of the red.

Right now, the AMP share price is 24% lower than it was at the start of 2021. It has also slipped 30% since this time last year.

The post So far, so good for the AMP (ASX:AMP) share price in November. Here’s why appeared first on The Motley Fool Australia.

Should you invest $1,000 in AMP right now?

Before you consider AMP, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and AMP wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Here are the top 10 ASX shares today

These 3 ASX 200 shares are topping the volume charts this Wednesday

Why AMP, Eclipx, Paradigm, and Praemium shares are surging higher

AMP (ASX:AMP) share price leaps 9% on life insurance sale

ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps

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.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!