Today, the S&P/ASX 200 Index (ASX: XJO) mimicked the solid performance witnessed on Wall Street last night. This move was sustained despite Australian wage growth data coming in under expectations. At the end of the session, the benchmark index finished 0.99% higher at 7,182.7 points.

On another day of green markets, materials were the sector crossing the finish line with the best performance with a gain of 2.5%. Following closely behind were solid rallies across tech, real estate, and industrials.

The root cause behind today’s strength might be a consequence of US data showing a 0.9% uplift in retail spending last night. Though, tomorrow we will see how markets react to the UK inflation rate hitting a 40-year high of 9%.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Mercury NZ Ltd (ASX: MCY) was the biggest gainer today. Shares in the renewable electricity generator climbed 5.99% despite there being no new announcements hitting the market. Find out more about Mercury NZ here.

The next best performing ASX share across the market today was Summerset Group Holdings Ltd (ASX: SNZ). The retirement village operator received a 5.98% boost to its share price today without any news to fuel the optimism. Uncover the latest Summerset Group Holdings details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Mercury NZ Ltd (ASX: MCY)	$5.31	5.99%
Summerset Group Holdings Ltd (ASX: SNZ)	$9.93	5.98%
Champion Iron Ltd (ASX: CIA)	$7.37	5.29%
Paladin Energy Ltd (ASX: PDN)	$0.71	5.19%
South32 Ltd (ASX: S32)	$4.70	5.15%
Corporate Travel Management Ltd (ASX: CTD)	$22.39	5.07%
Flight Centre Travel Group Ltd (ASX: FLT)	$2.40	4.80%
Seven Group Holdings Ltd (ASX: SVW)	$21.20	4.74%
Mineral Resources Ltd (ASX: MIN)	$19.64	4.52%
Lynas Rare Earths Ltd (ASX: LYC)	$60.77	4.49%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

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

More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today
• 3 ASX shares you might be surprised to learn pay dividends

Motley Fool contributor Mitchell Lawler has positions in Lynas Corporation Limited. 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 Corporate Travel Management Limited and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/vVUE9LC

The legendary investor Warren Buffett once famously said that his favourite length of time to own a share is forever. It’s a sentiment that this writer agrees wholeheartedly with. But the world is a complex and ever-changing place. Thus, it’s hard to really know for sure if a company has a place in one’s portfolio forever.

In 1992, for example, Blockbuster Video might have seemed like a buy-and-hold-forever kind of company. Fast forward to the late 2000s and it was becoming clear that Blockbuster’s future was looking increasingly bleak.

Even Buffett doesn’t quite put his money where his mouth is all of the time. He has been selling plenty of his shares in recent years, after all.

But in my opinion, Washington H. Soul Pattinson and Co Ltd (ASX: SOL) is about as close as you can get to a ‘forever ASX share’. Here are two reasons why:

Soul Patts has been succeeding for decades

Soul Patts has been around for longer than the ASX has. It can trace its roots back to the 19th century. Over the decades since, the company has slowly transformed into an investment house of sorts. It conservatively manages its capital for the long-term benefit of its shareholders, a process it is continually refining.

But it has done a pretty decent job of building a long-term track record of performance. In a company presentation in March, Soul Patts claimed that its shares had averaged a compounded annual return of 14.5% since 1981. Not too many companies can boast a record of that length and calibre. What’s more, Soul Patts has also given its investors an annual dividend increase every year since 2000.

An unusually diversified ASX share

Most ASX shares are inherently undiversified since they represent ownership of a single business. But Soul Patts is different. It owns large chunks of many other ASX shares within its investment portfolio. These include telco TPG Telecom Ltd (ASX: TPG), coal miner New Hope Corporation Limited (ASX: NHC), and construction materials company Brickworks Ltd (ASX: BKW). What’s more, it also owns a bevvy of unlisted assets too, which further diversifies its portfolio.

So Soul Patts is a diversified investment with a long, long track record of delivering outperformance and rising dividends. That’s why I don’t ever plan on selling this ASX dividend share.

The post I’ll never sell this ASX dividend share. Here’s why appeared first on The Motley Fool Australia.

More reading

• The Soul Patts dividend is being paid today. Here’s what you need to know
• These ASX shares pay you to own them
• 2 ASX dividend shares that keep giving investors pay rises
• Soul Pattinson share price rises after electric deal for Ampcontrol
• Is the Soul Pattinson share price a buy after falling over 10% in 2022?

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/bGMRyHq

The EMvision Medical Devices Ltd (ASX: EMV) share price rocketed today following news that the Australian Government will give the ASX company a multi-million dollar manufacturing grant.

Shares in the Australian medical device company finished the session at $1.82, up 5.2%. Earlier, the EMvision share price reached an intraday high of $1.92 — up 10.98%.

By comparison, the All Ordinaries Index (ASX: XAO) also travelled higher today to 7,426 points — up 1.03%.

EMvision receives Modern Manufacturing Initiative Grant

ASX investors snapped up EMvision shares on news today that the company has been successful in its application for the grant.

According to a market release, the Department of Industry, Science, Energy and Resources has awarded EMvision a Modern Manufacturing Initiative (MMI) grant.

Under the MMI Manufacturing Translation Stream program, EMvision will receive $5 million of non-dilutive cash funding.

This program provides businesses with funds to support projects, adopt new technologies, and improve manufacturing processes. EMvision stated that the grant is a matched funding program and remains subject to agreeing documentation and terms.

EMvision has not provided any details on how the company will use the funds. Management said it will advise the details in due course.

The company is developing a portable brain scanner to diagnose and monitor strokes in patients.

The department will contact EMvision to discuss the next steps.

EMvision share price summary

Although the EMvision share price accelerated today, it has been on a downhill trend. The shares have lost 37% over the past 12 months and are down 31% year to date.

On valuation grounds, EMvision has a market capitalisation of roughly $133.95 million.

The post EMvision share price rockets 11% on $5 million pay day appeared first on The Motley Fool Australia.

More reading

• Here’s why the EMvision share price surged 8% on Wednesday

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 EMvision Medical Devices Limited. 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.

from The Motley Fool Australia https://ift.tt/XuS3Ltk

Shares of Dubber Corp Ltd (ASX: DUB) have surged 18.28% at the close of trading on Wednesday and are now fetching $1.10 apiece.

The gain brings Dubber’s gain over the past five days of trade to 20.8% after shares bounced off a 52-week closing low of 91 cents apiece.

What’s up with the Dubber share price?

There’s been no price-sensitive news from Dubber since the cloud-based software as a service (SaaS) provider released its quarterly activities report in April, so let’s look at the bigger picture.

Dubber shares have been sold off heavily since the beginning of the year with those still holding the stock realising a 60% loss in that time.

However, the downward trend had been in situ for some time, as the share price had tumbled from a 52-week closing high of $4.26, bringing the total drawdown now to 74% from that point.

Needless to say, Dubber’s downturn has been consistent with the moves in the wider tech sector, as the S&P/ASX All Technology index (ASX: XTX) has also crumbled 29% lower in 2022.

Dubber appears to track the tech index closely, with only a minimal divergence seen in March thus far in 2022, as seen on the chart below.

It wouldn’t come as much surprise, therefore, to see Dubber’s share price begin to lift alongside the tech index’s 8% gain since 12 May.

As the sector continues strengthening so too has Dubber’s share price. Although, that’s not to suggest the correlation is the only cause of Dubber’s spike.

Meanwhile, investors continue bidding up shares in the company on a volume of 168% that of its 4-week average.

Zooming out, and the Dubber share price has slipped 61% into the red over the last 12 months of trade.

The post Why did the Dubber share price push 18% higher today? appeared first on The Motley Fool Australia.

More reading

• The Appen share price is soaring 5% on Thursday. Could this be why?

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 positions in and has recommended Dubber Corporation. The Motley Fool Australia has positions in and has recommended Dubber Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/5ZCg2Xl