Are you interested in adding some ASX growth shares to your portfolio next month? If you are, you may want to look at the two listed below that have recently been named as buys.

Here’s what you need to know about these ASX growth shares:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is a leading appliance manufacturer which have been growing at a solid rate for years.

The good news is that thanks to a combination of favourable industry tailwinds, its investment in research and development, and ongoing global expansion, Breville has been tipped to continue its strong growth over the coming years by the team at Morgans.

In fact, it believes Breville “is positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched.”

As a result, the broker currently has an add rating and $32.00 price target on its shares.

IDP Education Ltd (ASX: IEL)

Another ASX growth share that could be a buy is IDP Education. It is a provider of international student placement services and English language testing services.

IDP appears well-placed for growth as the global economy reopens from the pandemic and students start travelling again. In addition, recent acquisitions have strengthened its market position and look set to support its growth. Particularly in the key India market where demand for language testing is strong.

Analysts at Goldman Sachs are very bullish on the company’s outlook thanks to structural growth in international student volumes and IELTS testing demand. Its analysts are forecasting a “68% 3yr EPS CAGR (FY21-FY24E).”

Goldman currently has a buy rating and $35.50 price target on the company’s shares.

The post 2 top growth shares experts are tipping as buys in June appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 Idp Education Pty Ltd. 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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Today, the S&P/ASX 200 Index (ASX: XJO) backed up its big performance on Friday with another sensational showing. At the end of the session, the benchmark index finished 1.45% higher at 7,286.6 points.

Nearly every sector was sitting in the positive camp at the end of Monday… nearly. The scrapping of plans to split AGL Energy Limited (ASX: AGL) and a refresh of the board was met with selling pressure. In turn, the entire utilities sector was in the red on the ASX today.

At the other end of the spectrum, tech shares gained steam, finishing the day as the best performing sector. Following closely behind were materials, with strong rallies across companies involved in mining battery metals.

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, Novonix Ltd (ASX: NVX) was the biggest gainer today. Shares in the battery technology company were catapulted 10.99% above their previous close despite no company-specific announcements. Find out more about Novonix here.

The next best performing ASX share across the market today was Block Inc (ASX: SQ2). The US-based fintech giant ascended on Friday night during trading on its local exchange. As a result, the ASX counterpart enjoyed a push higher today. Uncover the latest Block details here.

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

ASX-listed company	Share price	Price change
Novonix Ltd (ASX: NVX)	$4.14	10.99%
Block Inc (ASX: SQ2)	$129.85	10.89%
The a2 Milk Company Ltd (ASX: A2M)	$4.77	10.42%
Magellan Financial Group Ltd (ASX: MFG)	$16.14	8.47%
Idp Education Ltd (ASX: IEL)	$24.95	7.54%
Netwealth Group Ltd (ASX: NWL)	$13.25	6.09%
Johns Lyng Group Ltd (ASX: JLG)	$6.01	6.00%
Reece Ltd (ASX: REH)	$16.06	5.45%
Core Lithium Ltd (ASX: CXO)	$1.375	5.36%
Liontown Resources Ltd (ASX: LTR)	$1.39	5.30%

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

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• Why Alkane Resources, Block, Bubs, and Telix shares are storming higher

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Idp Education Pty Ltd, Johns Lyng Group Limited, and Netwealth. The Motley Fool Australia has positions in and has recommended Block, Inc. and Netwealth. The Motley Fool Australia has recommended A2 Milk and Johns Lyng 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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If the Dogecoin (CRYPTO: DOGE) price was pulling a yoga pose, it would be the downward dog. Because that’s where it has been heading during May.

Despite a sprinkling of positive news items for the Shiba Inu dog-inspired cryptocurrency, it simply has not been enough to counter the widespread negative sentiment. Ultimately, gravity has dragged this little doggy down 37% since the beginning of the month. For context, the market capitalisation of the global crypto market retracted by 28% in May.

So, what steered the Dogecoin price off track?

Fed bites after barking

While it might have been a difficult month for Dogecoin ‘hodlers’ (the term for those who buy and hold crypto), the pain was felt across the board for cryptocurrency investors. This, in conjunction with the lack of Dogecoin-specific negative events, suggests that the trajectory was more of a macroeconomic influence.

Demonstrating its resolve to bring inflation back in line, the US Federal Reserve raised interest rates by 50 basis points to 0.75% earlier this month. At the same meeting, the United States’ central bank informed onlookers that it won’t hesitate to jack up rates further to calm inflation.

The decision sent a shock down the spine of investors in the riskier end of town. Consequently, tech stocks and cryptocurrencies began their descent via the elevator.

As pictured above, the Dogecoin price has underperformed its larger peers: Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). However, the general trend is shared across all three following the Fed’s decision to increase interest rates.

As a result, news of Dogecoin being adopted by luxury fashion brand Gucci throughout the month failed to gain traction.

Dogecoin price snapshot

Unfortunately, the Dogecoin price hasn’t received any pampering so far this year. Investors of the meme coin are now down 50% since the year kicked off. For comparison, Bitcoin has held onto more of its value, only falling 35% over the same timeframe.

The post Down 37%, it’s been a dog of a month for the Dogecoin price in May, here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has positions in Bitcoin, Ethereum and Dogecoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. 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 Macquarie Group Ltd (ASX: MQG) share price has underperformed so far this month.

The S&P/ASX 200 Index (ASX: XJO) giant’s stock has slumped 8.73% since the end of April. As of Monday’s close, the Macquarie share price is $188.12.

For context, the ASX 200 has dipped just 2.08% this month while the S&P/ASX 200 Financials Index (ASX: XFJ) has dropped 1.59%.

So, what’s been weighing on the banking major’s stock this month? Let’s take a look.

What’s been going wrong for Macquarie this month?

The Macquarie share price has been struggling following the release of disappointing full year results earlier this month.

It was a result that many ASX companies would be envious of. The investment banking giant reported its net profit had jumped 56% to around $2.66 billion over the 12 months ended 31 March. Its total operating income also rose 36% to approximately $17.32 billion.

Finally, Macquarie offered shareholders a fully franked $3.50 final dividend for the period – a 40% increase on that of the prior period.

However, its seemingly strong result wasn’t enough to impress the market.

The Macquarie share price tumbled 7.78% on 6 May – the day on which its results were released. To add salt to the wound, it slipped another 3.68% over the following two sessions.

As The Motley Fool Australia reported at the time, Goldman Sachs expected more from the ASX 200 monolith.

It expected Macquarie to report $2.8 billion of profits and a $4.40 per share dividend.

Unfortunantly, the Macquarie share price hasn’t been able to make up the ground lost during the first few weeks of this month just yet.

Though, it has gained nearly 5.5% over the last two sessions. At least that points to the stock potentially ending the month on a high.

Macquarie share price snapshot

The Macquarie share price is currently 8% lower than it was at the start of 2022.

Though, it has gained 23% since this time last year.

The post Why has the Macquarie share price lost ground in May? appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• The ANZ share price is ‘trading at its largest discount to its peers in 15 years’: Is this justified?
• Broker names 2 ASX 200 shares with major upside potential
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• What’s going on with the Challenger share price today?

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 Goldman Sachs. 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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