It was yet another negative session for the S&P/ASX 200 Index (ASX: XJO) and many ASX shares this Thursday, the fourth red session for the Australian markets in a row this week.

After opening sharply lower at the start of morning trading, the ASX 200 did recover a little over the day. But it wasn’t nearly enough to save investors from a loss. By the time trading finished, the index had lost 0.26% and closed at 8,762.5 points.

This depressing Thursday for the local markets came after a mixed night over on the US markets.

The Dow Jones Industrial Average Index (DJX: .DJI) wasn’t in a good place, dropping 1.09%.

However, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared far better, rising 0.2%.

Let’s get back to the local markets now and check out how today’s tough trading conditions have percolated down into the various ASX sectors.

Winners and losers

Despite the market’s bad mood this Thursday, there were plenty of sectors that were spared from a sell-down.

But first, it was mining stocks that got slammed the hardest today. The S&P/ASX 200 Materials Index (ASX: XMJ) ended up crashing 1.48% lower.

Gold shares had another rough one too, with the All Ordinaries Gold Index (ASX: XGD) tumbling 1.24%.

We can say the same for real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) sank 1.1% by the closing bell.

Financial stocks were a little better, though, as illustrated by the S&P/ASX 200 Financials Index (ASX: XFJ)’s 0.15% slip.

Turning to the green sectors now, energy shares had a blowout. The S&P/ASX 200 Energy Index (ASX: XEJ) ended up surging 1.67% higher.

Utilities stocks also ran hot, with the S&P/ASX 200 Utilities Index (ASX: XUJ) soaring 1.28%.

Consumer staples shares were solid. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) galloped 0.97% higher this session.

Tech stocks were in demand too, as you can see by the S&P/ASX 200 Information Technology Index (ASX: XIJ)’s 0.92% bounce.

Communications shares fared decently. The S&P/ASX 200 Communication Services Index (ASX: XTJ) added 0.89% to its total today.

As did consumer discretionary stocks, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) advancing 0.58%.

Healthcare shares stayed afloat. The S&P/ASX 200 Healthcare Index (ASX: XHJ) lifted 0.13% this Thursday.

Finally, industrial stocks got over the line, evident from the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.12% bump.

Top 10 ASX 200 shares countdown

Today’s top stock was building supplies company Fletcher Building Ltd (ASX: FBU). Fletcher shares rocketed 7.55% this session to $2.99 each.

This followed the stock releasing some updated earnings guidance, which investors clearly appreciated.

Here’s how the other winners pulled up at the kerb: 

ASX-listed company	Share price	Price change
Fletcher Building Ltd (ASX: FBU)	$2.99	7.55%
Megaport Ltd (ASX: MP1)	$20.14	5.56%
New Hope Corporation Ltd (ASX: NHC)	$5.22	5.45%
Infratil Ltd (ASX: IFT)	$12.90	4.12%
Mesoblast Ltd (ASX: MSB)	$2.10	3.96%
Tuas Ltd (ASX: TUA)	$2.29	3.62%
Codan Ltd (ASX: CDA)	$44.49	3.47%
SRG Global Ltd (ASX: SRG)	$3.61	2.56%
Sigma Healthcare Ltd (ASX: SIG)	$2.87	2.50%
Lovisa Holdings Ltd (ASX: LOV)	$23.20	2.47%

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

More reading

• Which ASX 200 sectors paid the highest dividend yields in FY26?
• Is the ASX 200 heading for a third straight fall as oil prices jump?
• 3 ASX 200 shares with 50% to 100% upside in FY27
• Why are Fletcher Building shares flying 7% higher today?
• Steadfast Group extends exclusivity on $6.00 per share takeover offer

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and Megaport. The Motley Fool Australia has recommended Lovisa and Srg Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) delivered investors a total return of 7% last financial year.

That return was comprised of 2.77% capital growth and a 4.23% average dividend yield.

That’s an improvement on last year’s payout.

In FY25, dividends made up 3.84% of the total 13.81% return.

That was well below the long-term average of about 4.5%.

This last financial year, the market moved closer to the norm.

What pushed dividend yields higher last year?

The increase partly reflects higher earnings among resources companies due to rising commodity prices.

This contributed to an outstanding performance in the ASX 200 materials sector, which lead the 11 market sectors last year.

Materials stocks soared 47.48% and paid a healthy above-average dividend yield of 4.63%.

The energy sector paid an even higher dividend yield at 5.14% in FY26.

But neither paid the best dividend yield of the 11 market sectors.

That title belongs to a much more defensive segment.

Experts say capital gains tax (CGT) changes may prompt investors to seek better yield.

If that rings true for you, the following list will give you a general guide as to which sectors pay best.

Let’s take a look at the dividend yields of each of the 11 market sectors in FY26.

Which ASX sectors delivered the best dividend yields?

The sectors are listed in order of highest dividend yield for FY26.

Utilities

The total return for the S&P/ASX 200 Utilities Index (ASX: XUJ) last year was 11.87%.

Dividends made up 5.98% of that total return.

Energy infrastructure company APA Group (ASX: APA) was the sector’s best performer for growth.

APA Group shares rose 24%, and are currently trading on a trailing dividend yield of 5.84%.

Energy

The total return for the S&P/ASX 200 Energy Index (ASX: XEJ) was 14.51%.

Dividends represented 5.14% of that return.

ASX 200 coal  producer New Hope Corporation Ltd (ASX: NHC) had the strongest share price growth at 44%.

New Hope Corporation shares have a trailing dividend yield of 4.78%.

Materials

The total return for the S&P/ASX 200 Materials Index (ASX: XMJ) was 52.11% in FY26. 

Dividends made up 4.63% of that return.

The best performer was gold explorer, Minerals 260 Ltd (ASX: MI6), which rocketed 508% in FY26.

Minerals 260 does not pay dividends.

The largest company in the materials sector is BHP Group Ltd (ASX: BHP), which has a trailing yield of 3.47%.

Consumer Staples

The total return for the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) was 13.72%. 

Dividends represented 3.63% of that return.

Woolworths Group Ltd (ASX: WOW) was the top-performing consumer staples share, rising 29%.

Woolworths shares have a trailing yield of 2.24%.

Financials

The total return for the S&P/ASX 200 Financials Index (ASX: XFJ) was 1.69%. 

The index lost 1.89% of its market cap last year, but dividends of 3.58% brought the sector into the green.

New Zealand-based infrastructure investment company, Infratil Ltd (ASX: IFT) was the fastest riser, lifting 29%.

Infratil shares have a trailing dividend yield of 1.22%.

Industrials

The total return for the S&P/ASX 200 Industrials Index (ASX: XNJ) was 5.24%.

Dividends made up 3.55% of that return.

Electro Optic Systems Holdings Ltd (ASX: EOS) shares were the fastest risers, rocketing 261%.

Electro Optic Systems does not pay dividends.

The biggest company in the sector is Transurban Group (ASX: TCL), which has a trailing yield of 4.68%.

Real estate & REITs

The total return for the S&P/ASX 200 Real Estate Index (ASX: XPJ) was a negative 2.24%.

The index dropped 5.32% in FY26, but an average dividend yield of 3.08% mitigated the capital loss.

Property fund manager Charter Hall Group (ASX: CHC) outperformed with capital growth of 19%.

The ASX 200 real estate investment trust (REIT) has a trailing dividend yield of 2.3%.

Communications

The total return for the S&P/ASX 200 Communications Index (ASX: XTJ) was a negative 9.41%.

The sector lost 12.4% of its value, but an average dividend yield of 2.99% partially offset the loss.

Aussie Broadband Ltd (ASX: ABB) shares rose the most, lifting 26%.

Aussie Broadband has a trailing dividend yield of 1.03%.

Consumer discretionary

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) produced a negative total return of 1.21%.

The index fell 3.56%, but an average dividend yield of 2.35% reduced the impact.

The Eagers Automotive Ltd (ASX: APE) share price experienced the most growth, rising 22%.

Eagers Automotive shares have a trailing dividend yield of 3.43%.

Healthcare

The total return for the S&P/ASX 200 Health Care Index (ASX: XHJ) was a negative 36.15%.

The healthcare index fell 37.4%, and an average dividend yield of 1.25% did little to buoy investors’ spirits.

4DMedical Ltd (ASX: 4DX) was the outperformer, with its share price skyrocketing 1,786%.

4DMedical does not pay dividends.

The largest company in the sector is CSL Ltd (ASX: CSL), which has a trailing dividend yield of 3.38%.

The healthcare sector is experiencing an extraordinary bounce back, with value investors returning just last month.

Since the pivot point on 3 June, the healthcare index has soared 23%.

Technology

The total return for the S&P/ASX 200 Information Technology Index (ASX: XIJ) was a negative 36.97%.

The index lost 37.22% of its value, and a tiny average dividend yield of 0.25% was barely noticeable to investors.

The Aussie tech sector is comprised predominately of younger growth companies, and not many pay dividends yet.

ASX 200 tech shares tanked in FY26, with only four shares experiencing capital growth.

The stand-out was Codan Ltd (ASX: CDA) shares, which rocketed 119%.

Codan shares have a trailing dividend yield of 0.8%.

Technology is also on the rebound after bottoming out on 30 March.

The post Which ASX 200 sectors paid the highest dividend yields in FY26? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband, CSL, Electro Optic Systems, and Transurban Group. The Motley Fool Australia has positions in and has recommended Apa Group and Transurban Group. The Motley Fool Australia has recommended Aussie Broadband, BHP Group, CSL, and Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) shares are 0.5% lower at 8.744 points on Thursday.

Meanwhile, brokers have increased their ratings on several ASX shares this week.

Let’s take a look.

Santos Ltd (ASX: STO)

The Santos share price is $7.64, up 1.8% today.

This ASX 200 energy share has fallen 1% over 12 months.

Morgan Stanley upgraded Santos shares to a buy rating this week.

The broker raised its 12-month price target from $7.50 to $7.67.

This suggests the stock is fully priced already.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is $29.42, up 1.9% today.

Stock in the market’s largest oil and gas producer has risen 23% over 12 months.

Morgan Stanley upgraded Woodside shares to a hold rating on Monday.

The broker has a target price of $28, suggesting a 5% downside ahead.

IGO Ltd (ASX: IGO)

The IGO share price is $6.73, down 3.2% today.

This ASX 200 mining share was among the top 5 lithium stocks for capital growth over FY26.

The IGO share price ascended 77% to close out the year at $7.37 on 30 June.

Morgan Stanley upgraded IGO to a hold rating this week.

The broker raised its 12-month target from $6.85 to $6.95.

This suggests a potential 2% upside ahead.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is $23.46, down 0.2% today.

This ASX 200 financial share has tumbled 33% over 12 months.

Ord Minnett upgraded Netwealth shares to a buy rating yesterday.

The broker increased its 12-month target from $25 to $26.

This suggests a potential 10% upside ahead.

HomeCo Daily Needs Ltd (ASX: HDN)

The HomeCo Daily Needs REIT share price is $1.27, up 0.2% today.

This ASX real estate investment trust (REIT) has risen 2.2% over 12 months.

Morgans upgraded the ASX REIT to a buy rating with a $1.36 target on Wednesday.

This implies potential capital growth of 7% over the next year.

Waypoint REIT (ASX: WPR)

The Waypoint REIT share price is $2.42, down 0.2% today.

This ASX real estate share has fallen 1% over 12 months.

Morgans upgraded Waypoint REIT shares to a buy with a $2.50 target yesterday.

This implies a potential 3% upside ahead.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is $17.98, down 1.6% today.

This ASX 200 copper share has rocketed 61% over 12 months amid a rising copper price.

Morgan Stanley upgraded Sandfire shares to a hold rating this week.

The broker increased its 12-month price target from $16 to $17.35.

This suggests a potential 4% downside ahead.

The post 7 ASX shares catching broker upgrades this week appeared first on The Motley Fool Australia.

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Wesfarmers Ltd (ASX: WES) shares continue to flex their muscles.

The retail heavyweight gained a modest 0.3% to $90.48 during Thursday afternoon trade, but don’t let that fool you. The stock is still edging closer to its all-time high of around $95.

It’s been a cracking run. Wesfarmers shares have climbed roughly 12% over the past month and are now up 11% in 2026. That’s comfortably ahead of the S&P/ASX 200 Index (ASX: XJO), which has gained around 1% over the past month and is barely positive for the year.

The obvious question now is whether the market has got carried away, or whether Wesfarmers still has room to climb.

Why are Wesfarmers shares rallying?

A few things have fallen into place for Wesfarmers shares. For starters, Australian consumers have proved tougher than many expected. Household spending rose 1.3% last month, comfortably beating forecasts and easing fears that higher living costs were crushing retail demand.

Interest rate expectations have also helped. Markets increasingly expect the Reserve Bank of Australia to keep rates on hold at its next meeting, reducing concerns that households could face another squeeze from higher mortgage repayments.

That’s been music to the ears of retail investors.

Retail royalty

Wesfarmers isn’t just another retailer. It owns some of Australia’s best-known brands, including Bunnings, Kmart Australia, and Officeworks.

Bunnings remains the undisputed king of home improvement, while Kmart has quietly become one of the country’s most successful discount retailers. Both businesses thrive by offering value, scale, and convenience.

Ironically, if consumer spending does soften during FY27, Wesfarmers shares could actually benefit as shoppers trade down and hunt for bargains.

Being the low-cost leader isn’t a bad place to be.

There’s more than retail under the bonnet

Wesfarmers also continues to find new ways to grow. Its Anko expansion is gathering momentum, with stores opening across the Philippines and more planned before the end of FY27.

Meanwhile, Bunnings keeps moving into new product categories, including pet supplies and automotive accessories. Kmart is experimenting with larger K Home stores, potentially opening another growth avenue beyond its traditional discount retail business.

The company also maintains exposure to lithium through its mining interests, giving shareholders another potential long-term earnings driver if battery materials regain momentum.

The secret sauce

One reason Wesfarmers shares command such a premium valuation is simple: the company generates outstanding returns. During the first half of FY26, Bunnings produced a return on capital approaching 71%, while Kmart wasn’t far behind at almost 70%.

Across the broader business, return on equity reached 32.7%.

Those are elite numbers. Very few mature ASX companies consistently generate that level of profitability while continuing to reinvest for future growth.

What do brokers think?

Here’s where things get interesting.

According to TradingView data, analysts are far less enthusiastic than the market.

Of the 14 brokers covering Wesfarmers shares, seven recommend holding the shares, six rate them as either a sell or strong sell, and only one has a buy recommendation.

The average 12-month price target sits at $76.91, implying a downside of around 15% from current levels.

Even the most optimistic analyst doesn’t expect the shares to move meaningfully above today’s price, while the most bearish forecast suggests downside of roughly 28%.

Foolish takeaway

After a stellar run, investors appear willing to pay almost any price for Wesfarmers’ strengths. Brokers, however, aren’t so convinced.

For long-term shareholders, Wesfarmers shares still look like they’re worth owning. New investors may simply need to decide whether they’re comfortable paying a premium for one of the ASX’s best operators.

The post Wesfarmers shares are closing in on record highs. Buy, hold or sell? appeared first on The Motley Fool Australia.

More reading

• Is the ASX 200 heading for a third straight fall as oil prices jump?
• Steadfast Group extends exclusivity on $6.00 per share takeover offer
• Fletcher Building lifts FY26 profit guidance as quarterly volumes rise
• These ASX shares could generate $10,000 per year in passive income
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is back in the red on Thursday as investors react to another jump in oil prices.

At the time of writing, the ASX 200 is down 0.53% to 8,738 points.

The move has the benchmark index on track for its third straight decline, with weakness across the big miners and banks weighing on the market.

At the latest check, 113 stocks are lower, 80 are higher, and 7 are unchanged.

Here’s a closer look at today’s fall.

Oil is back on the agenda

Oil prices are giving investors something else to worry about today.

According to Trading Economics, Brent crude rose to around US$78.80 a barrel after fresh US strikes on Iran, while WTI crude was trading near US$74.26 a barrel.

The move is helping parts of the energy sector, but it is not doing much for the broader mood across the ASX 200.

With inflation, rates, and global growth already weighing on the market, higher oil prices have only added to the pressure.

Miners and banks weigh on the market

Most of the damage is coming from the big miners and banks.

BHP Group Ltd (ASX: BHP) shares are down 1.93% to $56.40, while Rio Tinto Ltd (ASX: RIO) has fallen 3.98% to $157.33.

The major banks are also softer.

Commonwealth Bank of Australia (ASX: CBA) shares are down 0.42% to $167.47, National Australia Bank Ltd (ASX: NAB) has slipped 1.21% to $39.11, and ANZ Group Holdings Ltd (ASX: ANZ) is 1.23% lower at $35.43.

Westpac Banking Corp (ASX: WBC) is holding up better, edging 0.06% lower to $36.23.

Energy and defensives offer support

There is still some support around, which is stopping the ASX 200 from falling further.

Woodside Energy Group Ltd (ASX: WDS) shares are up 1.8% to $29.39, while Santos Ltd (ASX: STO) has added 1.67% to $7.625.

CSL Ltd (ASX: CSL) is also doing some work, rising 1.86% to $126.61.

The supermarkets are helping as well. Woolworths Group Ltd (ASX: WOW) shares are up 0.46% to $40.085, while Coles Group Ltd (ASX: COL) has lifted 0.96% to $23.635.

But even with those gains, the ASX 200 is still struggling to get back on the front foot.

Can the ASX 200 recover today?

The ASX 200 still has time to recover, but it needs more help from the usual heavyweights.

Energy stocks and defensives are doing their bit, but the weakness in miners and banks is making it hard for the index to turn positive.

A lot may depend on whether BHP, Rio Tinto, and the major banks can steady into the afternoon session.

If they do, the ASX 200 could claw back some of today’s losses.

The post Is the ASX 200 heading for a third straight fall as oil prices jump? appeared first on The Motley Fool Australia.

More reading

• Steadfast Group extends exclusivity on $6.00 per share takeover offer
• Fletcher Building lifts FY26 profit guidance as quarterly volumes rise
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Why the ASX 200 is sliding towards a 4-week low today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Australia is in the midst of a new mining boom, largely driven by the green energy transition and the artificial intelligence (AI) build-out.

This is generating significantly higher demand for critical minerals, such as lithium, and batteries to power new infrastructure and EVs.

Lithium prices slumped in 2023-2025 due to an oversupply, but supply/demand finally rebalanced at the start of FY26.  

Lithium went on to top the charts of best-performing commodities in FY26 by a long way.

The lithium spodumene price rose about 280%, and carbonate soared 160% in FY26. 

So, it’s no surprise that ASX 200 lithium shares did well in terms of capital growth last year.

In fact, they shot the lights out.

Here are the top five of FY26.

1. Elevra Lithium Ltd (ASX: ELV)

This ASX 200 lithium share roared 327% higher to $9.60 apiece in FY26.

Elevra has a diversified portfolio of mines and development projects across Québec, North Carolina, Ghana, and Western Australia.

Formed through the merger of Piedmont Lithium and Sayona Mining, Elevra’s flagship is the North American Lithium Project (NAL). 

In 3Q FY26, NAL generated record revenue of US$81 million, up 22% on 2Q FY26.

Year-to-date revenue was US$167 million, up 68% on the prior corresponding period.

Elevra is undertaking an accelerated expansion at NAL to bring additional production online earlier than planned.

2. PLS Group Ltd (ASX: PLS)

Formerly known as Pilbara Minerals, PLS Group shares rocketed 275% to finish FY26 at $5.02. 

PLS Group is the largest lithium miner on the ASX 200 by market capitalisation. 

The company’s flagship is the Pilgangoora Operation, the world’s largest independent hard-rock lithium mine. 

PLS reported record quarterly production of 232.4kt in 3Q FY26, along with an 11% decline in unit operating costs.

The average estimated realised price for its lithium spodumene increased 61% over the quarter.

Management said the result reflected strong execution, improved plant reliability, increased run times, and consistently high lithium recovery.

3. Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price recovered 188% to finish the year at $62.65.

Value investors returned to Mineral Resources after corporate governance issues and financial concerns plagued the company in FY25. 

Founder Chris Ellison faced board-imposed financial penalties of $8.8 million and loss of remuneration of up to $9.6 million for reputational damage to the company.

The board decided to stop paying dividends in order to improve the balance sheet, and the company delivered its strongest half-year result ever in 1H FY26.

The miner reported record revenue of $3.1 billion and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.2 billion.

Soaring lithium commodity prices and the ramp-up of MinRes’s Onslow iron ore project contributed to the result. 

4. Liontown Ltd (ASX: LTR)

The Liontown share price jumped 197% to $1.58 in FY26.

Liontown owns one of Australia’s newest lithium operations, the Kathleen Valley Project, which only began production in early FY25. 

The company sought to ramp up production in FY26, and achieved a 70% increase in 1H FY26.

This, along with soaring lithium commodity prices, resulted in a doubling of revenue year over year to $207.5 million.

In 3Q FY26, Liontown became cash flow positive and achieved its 1.5Mtpa annualised underground run-rate early.

5. IGO Ltd (ASX: IGO)

This ASX 200 lithium share ascended 77% in FY26 to close out the year at $7.37.

The highlights of FY26 for IGO included a material improvement at the Kwinana Lithium Hydroxide Refinery.

Prroduction increased to 3,047t in 3Q FY26 vs. 2,120t in 2Q FY26, representing 51% of nameplate capacity.

Also in 3Q, nickel production at Nova increased 11% and the mine generated $52 million of free cash flow.

Greenbushes delivered a 75% EBITDA margin in the quarter.

For 3Q FY26, the lithium and nickel producer reported group underlying EBITDA of $119 million, up from $30 million in 2Q FY26.

Net cash increased to $327 million as at 31 March.

The post Top 5 ASX 200 lithium shares of FY26 appeared first on The Motley Fool Australia.

More reading

• Why are PLS shares still falling? Here’s what’s behind the sell-off
• 13 ASX 200 shares that doubled in value in FY26
• Sell alert! Why these experts are calling time on Endeavour and PLS shares
• Buy, hold, sell: BHP, Woodside, PLS Group shares
• Why did ASX 200 lithium stocks like PLS, Liontown and Mineral Resources shares get smashed in June?

Motley Fool contributor Bronwyn Allen 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 Scott Phillips.

Not many ASX floats have managed to create much excitement lately.

But FDC Consolidated Holdings Ltd (ASX: FDC) has made a pretty strong first impression.

The construction and fit-out group listed on Thursday at an issue price of $3 per share.

Shortly after hitting the market, FDC shares are currently trading at $3.50 apiece.

That represents a 16.7% first-day jump and makes the new ASX stock pretty hard to miss.

Here’s what investors are buying into.

FDC makes its ASX debut

FDC officially hit the ASX boards at 12:30pm AEST today under the ticker code FDC.

The company raised $400 million through the issue of ordinary shares at $3 each.

UBS Securities Australia and MA Moelis Australia Advisory acted as underwriters and joint lead managers, with Ord Minnett as co-lead manager.

The initial public offering (IPO) involved 133.6 million shares, representing around 41% of the company.

Based on the offer price, FDC was valued at about $969 million before trading began.

Today’s strong debut shows investors are firmly backing the company’s profits, history, and position in the construction market.

What does FDC do?

FDC has been around for 35 years and works across construction, interior fit-out, refurbishment, data centres and building services.

It has offices in Sydney, Adelaide, Brisbane, Canberra, Melbourne and Perth.

The company works on offices, commercial buildings, hospitals, hotels, data centres, schools and other major projects.

Among those, data centres are probably the part investors will be watching most closely, given the amount of money still flowing into digital infrastructure.

Why are investors buying?

At this stage, the first-day jump looks like demand simply outstripping supply.

FDC is forecasting revenue of $1.9 billion in FY27, compared with $1.5 billion in FY25. The company also expects EBIT of about $100.1 million in FY27.

For FY25, FDC reported $1.5 billion in revenue and $112 million in profit before tax.

Those numbers give investors something to work with from day one.

The float included a large sell-down by existing holders, although the Cottle family and staff are still expected to retain a sizeable stake.

Can the strong start continue?

Today’s jump is a nice start, but the real test comes after today’s float.

FDC now needs to show it can keep winning work, manage costs, and turn its project pipeline into steady earnings.

There’s an obvious interest in the business, especially after a quiet run for ASX IPOs.

But once the first-day excitement settles, the market will want to see the numbers hold up.

The post This new ASX IPO has jumped 17% on its first day appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Scott Phillips.

WiseTech Global Ltd (ASX: WTC) shares have slumped further into the red in Thursday lunchtime trade.

At the time of writing, the shares are down around 0.2% to $34.58 a piece, extending yesterday’s losses. On Wednesday afternoon, the ASX tech shares closed around 8% lower.

The shares have recovered around 20% from a five-year low in late-June, but the recovery hasn’t been sustained and is nowhere near enough to recoup losses shed over the past year.

For the year to date, WiseTech shares are still down around 50%, and they’re almost 70% lower than this time last year.

Why are WiseTech shares struggling to rebound?

WiseTech shares have suffered a steep, sustained price decline over the past 12 months. The decrease has mostly been driven by a tech-sector-wide sell-off and an investor rotation to more stable assets amid global volatility earlier this year. 

The company recently faced headwinds following media reports that the Australian Federal Police is investigating founder Richard White over alleged trafficking matters. The matters relate to a former cleaner at WiseTech.

It has been claimed that White exploited a former cleaner’s immigration status and financial position and provided false information on a visa application. 

The company responded and said that the alleged investigation relates to Richard White in a personal capacity. It added that there is no suggestion in this media commentary of an investigation into WiseTech.

But it hasn’t stopped investors rushing to the exits.

The question now is, how low can WiseTech shares go?

Here’s what the experts think.

Broker forecasts for the ASX tech stock this year

WiseTech shares have suffered a continual tumble this year, but if broker forecasts are anything to go by, the end should be in sight.

Market Index shows that the majority of brokers (seven out of eight) have a buy rating on the shares. The average $72.80 target price implies a potential 111% upside over the next 12 months, at the time of writing.

TradingView data also shows potential for a strong upside ahead. Out of 15 analysts, 12 have a buy or strong buy rating on WiseTech shares. Another three have a hold rating. 

Their average target price is a little lower at $65.60, but that still implies a potential 90% upside at the time of writing. In fact, interestingly, the range between the minimum and maximum target price is huge, but they all agree there will be some element of upside ahead.

The more bullish analysts are tipping an enormous 248% upside to a maximum target price of $120.60. Even the minimum $37.89 target price implies a potential 10% upside at the time of writing.

Bell Potter is one broker who is optimistic about the shares. The broker has a buy rating and a $71.75 target price on the shares.

Analysts are clearly very optimistic about the outlook for WiseTech shares. But I think that the latest sell-off shows that investors are still nervous that the company can deliver.

Even so, WiseTech has a strong competitive advantage in the global logistics industry. I think the company’s future hinges primarily on its FY26 results. If the company manages to reach or exceed its upgraded guidance, I think we’ll see a turnaround in investor sentiment.

The post How low could WiseTech shares go? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.7% to 8,726.2 points on Thursday.

With a new financial year now underway, perhaps you are looking for some fresh investment ideas.

Morgan Stanley reckons we shouldn’t go near these ASX 200 shares for now.

Here are five stocks with sell ratings from the broker at the start of FY27.

Fortescue Ltd (ASX: FMG)

The Fortescue share price is $18.30, down 0.5% today.

The ASX 200 mining share has risen 13% over 12 months.

Morgan Stanley reiterated its sell rating on Fortescue shares today.

The broker cut its 12-month price target from $18.85 to $17.25.

This implies a potential 5% downside ahead.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is $36.09, down 0.4% today.

The ASX 200 bank share has risen 7.1% over the past year.

Morgan Stanley reiterated its sell rating on Westpac shares with a $31.50 target yesterday.

This implies a potential capital decline of 13% ahead.

Deterra Royalties Ltd (ASX: DRR)

The Deterra Royalties share price is $4.39, down 2.1% today.

The ASX 200 materials share has risen 12% over 12 months.

Deterra has a portfolio of 14 royalties and royalty-like offtake assets in seven nations.

It is invested in iron ore, lithium, mineral sands, copper, molybdenum, and gold.

Mining royalties are agreements in which a third party provides financing to a miner in exchange for a portion of future revenues or production.

Morgan Stanley downgraded the stock to a sell rating today.

The broker shaved its 12-month price target from $4.45 to $3.95.

This suggests a potential 10% downside ahead.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is $167.10, down 0.6% today.

CBA shares have dropped 6.6% over the past 12 months.

Morgan Stanley maintained its sell rating on CBA shares with a $125 target this week.

This suggests a potential 25% downside for FY27.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $38.98, down 1.6% today and down 0.8% over 12 months.

Morgan Stanley kept its sell rating on NAB shares with a $34.50 target this week.

This implies an 11% downside from here.

The post Dump ’em! Morgan Stanley slaps sell ratings on 5 ASX 200 shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.5% to 8,737.7 points on Thursday.

Brokers have reduced their ratings on many ASX 200 shares this week.

Let’s take a look at their new ratings and 12-month share price targets.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $157.90, down 3.6% today.

Over the past 12 months, this ASX 200 mining share has climbed 47%.

Morgan Stanley downgraded Rio Tinto shares to a sell rating today.

The broker has a 12-month price target of $149.

This implies a potential 5% downside ahead.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is $10.15, down 3.6% today.

Magellan was one of the top 5 ASX 200 financial shares for capital growth in FY26, rising 13%.

The highlight of the year was Magellan’s proposed merger with boutique investment bank, Barrenjoey Capital Partners.

Magellan and Barrenjoey completed the merger on 1 July. 

Morgans downgraded Magellan shares to a hold rating on Monday.

The broker lifted its 12-month price target slightly from $11.19 to $11.29.

This implies a potential 11% upside ahead.

Magellan will ask shareholders to vote on a company rebrand to Barrenjoey Group at the AGM in October.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is $5.48, up 0.2% today.

This ASX 200 consumer discretionary share has risen 2.1% over the past year.

Citi downgraded the stock to a sell rating with a $5 target this week.

This indicates a possible 8% decline ahead.

Transurban Group (ASX: TCL)

The Transurban share price is $14.69, up 0.2% today.

This ASX 200 industrials share has risen 9.5% over 12 months.

UBS downgraded Transurban shares to a hold rating with a $14.50 target.

This suggests a potential 1% downside ahead.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $11.01, down 3.7% today.

This ASX 200 gold share has stormed 51% higher over the past year.

Macquarie downgraded Evolution shares to a hold rating yesterday.

The broker lowered its 12-month price target from $13 to $12.

This suggests potential capital growth of 8% over the next year. 

Worley Ltd (ASX: WOR)

The Worley share price is $10.78, up 0.5% today.

This ASX 200 industrials share has tumbled 18% over the past 12 months.

Ord Minnett downgraded Worley shares from accumulate to hold with a $12.70 target on Wednesday.

This still implies a potential 18% upside ahead.

The broker said:

There remains considerable uncertainty over short-term earnings for Worley and its peers.

More broadly, we highlight the change in Worley’s business mix, with a modest shift to engineering, procurement and construction (EPC) work, i.e. larger developments and responsibility for full project delivery, a business segment that is higher risk than traditional consultancy and advisory.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo share price is 89 cents, up 0.2% today.

Judo shares were sold off in June after the bank downgraded its profit guidance.

Ord Minnett downgraded Judo shares from a buy to a hold rating yesterday.

The broker slashed its 12-month price target from $2.40 to $1.60.

This implies a potential 80% upside ahead.

Ord Minnett commented:

We also cut our recommendation on Judo to Hold from Buy despite the apparent value on offer, given uncertainty around the company’s processes and the time it will take for management to rebuild market confidence.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is $209.07, down 1.4% today.

Pro Medicus shares hit a 52-week low of $107.75 on 24 February. Since then, the ASX 200 healthcare share has ripped 94% higher.

Jefferies thinks the stock has overshot. The broker downgraded Pro Medicus shares to a hold rating yesterday.

The broker lifted its share price target substantially from $147 to $192.60.

But with Pro Medicus shares already trading well above that, the broker recommends investors sit tight.

Suncorp Group Ltd (ASX: SUN)

The Suncorp share price is $18.79, down 1% today.

This ASX 200 financial share has fallen 9.7% over 12 months.

Jarden downgraded Suncorp shares to a hold rating on Monday.

The broker raised its 12-month price target slightly from $19.10 to $19.60.

This implies a potential 4% upside ahead.

The post 9 ASX 200 shares downgraded by analysts this week appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Jefferies Financial Group, Macquarie Group, The Lottery Corporation, and Transurban Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool Australia has recommended Macquarie Group, Pro Medicus, and The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.