Today’s market action has been pretty brutal on ASX lithium shares, with the materials sector one of the worst hit.

The S&P/ASX 200 Materials Index (ASX: XMJ) finished down 5.27% and was the second-worst performing sector on Monday, behind the S&P/ASX 200 Energy Index (ASX: XEJ).

Things weren’t looking too good on a more macro level either, as the S&P/ASX 200 Index (ASX: XJO) also struggled, closing at a 1.6% loss.

Driving the nail deeper, some lithium shares ended Monday down 12% or more. Let’s assess the damage.

Anson Resources Ltd (ASX: ASN)

The Anson Resources share price closed down 16.9% this afternoon. Investors could be reeling after the company’s 16 September announcement that it would raise $50 million as part of a capital raise.

Anson Resources will raise funds from institutional investors, and will issue 139 million shares for 36 cents apiece.

Monies will be used to fund the development of its Paradox Lithium Project in the United States.

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price finished trade down 13.16%. This company has defied sell-offs over the past week and was one of the better-performing ASX lithium shares last Wednesday.

The miner is involved in producing graphite, an important material used in the construction of batteries used in electric vehicles.

The most recent update from the company came last Friday when it announced preliminary drilling results at its Rincon Lithium Project in Argentina, with a better outcome than anticipated.

Morella Corporation Ltd (ASX: 1MC)

The Morella Corporation share price closed the day down 12%.

The ASX lithium share posted its annual report for FY22 to the market on 23 September.

In it the company reported a $682,944 loss after providing for income tax and non-controlling assets for the financial year. That’s significantly lower than the $73 million loss it reported in the previous corresponding period.

Meanwhile, revenues for the company ended at $788,937, while revenues for 2021 were $133,382.

The post 3 ASX lithium shares that dropped by 12% or more on Monday appeared first on The Motley Fool Australia.

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More reading

• Argosy Minerals share price charges higher on lithium update
• Which ASX lithium shares are performing best in 2022?
• These three ASX lithium shares defied Wednesday’s selloff
• Anson Resources share price dives 8% after $50m capital raise
• Why is ASX lithium share Anson Resources on ice today?

Motley Fool contributor Matthew Farley 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.

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The AGL Energy Ltd (ASX: AGL) share price has been shaky the last few months as investors unload their positions en masse.

Shares in the energy giant are now down 19% over the past month of trade and about 25% lower than the $8.58 apiece they were fetching on 10 August.

Spurring the plunge has been a series of unfortunate events for the energy retailer. Most recently, the AGL’s outgoing CEO Graeme Hunt is set to part ways with the company at the end of this month.

If it’s any consolation, AGL will hold its strategy day later this month, where it will reveal the findings of its strategic review.

No strategic changes seen

Despite the purported interest around AGL’s strategy day, analysts at Macquarie aren’t sharing the excitement.

The broker reckons it’s unlikely to see any new major strategic changes as part of the energy giant’s ongoing review.

In previous times, it was AGL’s dividend that was attractive to investors but Macquarie now believes AGL will use its large FY22 profit to fulfil different mandates.

Notably, Macquaries said there’s “a need for debt reduction, funding of provisions and re-investment in batteries and the energy hubs”, according to a note cited by The Australian.

Retaining cash instead of increasing the dividend would “address AGL’s balance sheet debt and provide the capital to co-invest in the development cities,” it added.

What this means for AGL shares, we will have to see, but no change might mean no change to the share price as well.

Also, for what it’s worth, AGL is trading at relatively low multiples right now.

It currently trades on a price-to-earnings ratio (P/E) of 5.2 times, giving investors an earnings yield of more than 19% at its current price.

That sits well below the Global Industry Standard Classification median for the Utilities Sector of 14.4 times. Meanwhile, AGL also generated a 14% return on equity (ROE) last year and trades at a price-to-book (P/B) ratio of 0.7 times.

That means our ROE as investors is 20% with the share trading at that multiple.

Hence, whilst Macquarie sees no strategic change ahead, the question still remains if there’s to be a change in the AGL share price.

The post Despite all the recent noise, is it business as usual for AGL shares? appeared first on The Motley Fool Australia.

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More reading

• What’s next for AGL shares following the company’s latest shake-up?
• AGL share price dips following changing of the guard
• AGL share price slides amid shareholder revolt
• What’s going on with the AGL share price today?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Zach Bristow 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 recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) tumbled amid global recession fears on Monday. The index closed 1.6% lower at 6,469.40 points.

Its fall followed a similarly tough Friday session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) ended last week with a 1.6% tumble while the S&P 500 Index (SP: .INX) fell 1.7% and the Nasdaq Composite Index (NASDAQ: .IXIC) plunged 1.8%.

The S&P/ASX 200 Energy Index (ASX: XEJ) was the market’s worst performer on Monday, falling 6.3% amid lower oil prices.

The Brent crude oil price fell 4.8% to US$86.15 a barrel on Friday and the US Nymex crude oil price slipped 5.7% to US$78.74 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also tumbled 5.3%.

But it wasn’t all bad. The S&P/ASX 200 Health Care Index (ASX: XHJ) gained 2% while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) and the S&P/ASX 200 Information Technology Index (ASX: XIJ) rose 1.2% and 1.1% respectively.

All in all, five of the ASX 200’s 11 sectors closed higher on Monday. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

The Nanosonics Ltd (ASX: NAN) share price led the index on Monday gaining close to 5%. That’s despite no news having been released by the healthcare giant.

Find out more about Nanosonics and what it’s been up to here.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Nanosonics Ltd (ASX: NAN)	$3.58	4.68%
Megaport Ltd (ASX: MP1)	$7.44	4.56%
REA Group Limited (ASX: REA)	$119.15	3.49%
TechnologyOne Ltd (ASX: TNE)	$11.01	3.38%
Altium Limited (ASX: ALU)	$35.01	3.27%
Xero Limited (ASX: XRO)	$78.95	3.16%
Seek Limited (ASX: SEK)	$19.63	2.99%
Cochlear Limited (ASX: COH)	$202.34	2.94%
ResMed Inc (ASX: RMD)	$32.96	2.87%
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)	$17.25	2.68%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making 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.

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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 positions in and has recommended Altium, Cochlear Ltd., MEGAPORT FPO, Nanosonics Limited, ResMed Inc., and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended Nanosonics Limited, ResMed Inc., and Xero. The Motley Fool Australia has recommended Cochlear Ltd., MEGAPORT FPO, REA Group Limited, SEEK Limited, and TechnologyOne Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Coles Group Ltd (ASX: COL) share price has seen a bit of volatility this year. But, arguably, less than the S&P/ASX 200 Index (ASX: XJO).

In 2022, Coles shares have dropped 7% while the ASX 200 is down by 13%.

The supermarket business may be seen as a defensive ASX 200 share. We all need to eat food, right? During the difficult lockdowns of COVID-19, it was businesses such as Coles that were deemed to be essential and could stay open. Shoppers continued buying and the supermarket business kept generating profit.

FY22 saw Coles report that total sales revenue increased by 2% to $39.4 billion and net profit after tax (NPAT) went up by 4.3%.

Is the Coles share price a defensive ASX 200 buy?

Some investors aren’t sure if the business is worth buying yet. For example, writing on The Bull, Arthur Garipoli from Seneca Financial Solutions said:

The supermarket and liquor giant’s result in fiscal year 2022 was in line with market expectations. Like most retailers, Coles experienced cost pressures in response to COVID-19. In a higher interest rate environment, Coles can be sufficiently agile to appeal to shoppers by ensuring affordable prices.

Growth of sales and earnings is certainly not guaranteed. Coles pointed out that in FY23, supermarket sales growth will be cycling against COVID-19 lockdowns in the first half of FY22 (for New South Wales, Victoria and the Australian Capital Territory), and price inflation in the second half of FY22.

While it’s able to pass on price increases for some products, it is suffering from cost inflation in areas like rent, wages, packaging, raw ingredients and freight.

However, some brokers are positive on the business. Both Citi and Morgans think that the Coles share price can rise by around 20% to $20 over the next year. Those analysts believe that the sale of Coles Express to Viva Energy Group Ltd (ASX: VEA) will allow the business to concentrate on and invest in the supermarket and liquor businesses.

Fuel and convenience sale

Coles will receive $300 million and assign leases, which currently represent a liability of $816 million on Coles’ balance sheet, to Viva Energy at completion. This is expected to occur in the second half of FY23, subject to approvals.

Customers will still get existing loyalty benefits, including the 4 cents per litre fuel discount.

The Coles Express-branded network will be rebranded by Viva Energy. The majority of sites will be completed over the next two years.

Coles will continue to partner with Viva Energy in relation to product supply arrangements, including accessing Coles’ own-brand product range.

Coles share price snapshot

Over the last month, Coles shares have dropped 5.5%.

The post Is the Coles share price a defensive ASX 200 buy right now? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• Brokers name 3 ASX shares to buy today
• Goldman Sachs gives its verdict on the Coles share price
• Here are 2 ASX 200 blue chip shares that experts rate as buys
• 5 things to watch on the ASX 200 on Friday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tristan Harrison 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 positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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