Month: May 2022

The Treasury Wine Estates Ltd (ASX: TWE) share price has come under pressure in 2022 amid the market volatility.

Since the start of the year, the wine giant’s shares have fallen 11% to $11.15.

This compares to a 6.2% decline by the S&P/ASX 200 Index (ASX: XJO) over the same period.

Is the weakness in the Treasury Wine share price a buying opportunity?

According to a recent note out of Citi, its analysts see a lot of value in the Treasury Wine share price at the current level.

In response to an update out of an industry peer in the United States, the broker has retained its buy rating and $13.78 price target on the company’s shares.

Based on the current Treasury Wine share price, this implies potential upside of over 23% for investors over the next 12 months.

What did the broker say?

Citi highlights that Pernod Ricard has just released its third-quarter update which revealed that its US sales momentum is accelerating.

While acknowledging that Pernod Ricard’s strong sales momentum was from non-wine brands, it is interpreting the update as a sign of strong demand for alcohol as a whole in the key market.

Citi believes that this bodes well for the Treasury Americas business, which contributes almost a third of its overall earnings.

One slight negative, though, was that Pernod Ricard spoke about challenges in the China market due to lockdowns. Citi has concerns that this could be a risk for any Treasury Wine products arriving into the country through the grey channel.

The broker commented:

Pernod Ricard’s 3Q FY22 result (Mar 22 ending) revealed an acceleration in US sales momentum driven by strong demand in key brands. While the brands highlighted by Pernod were mostly non-wine brands, we see strong alcohol demand in the US post reopening, particularly in the on-premise channel, as a positive for Treasury Americas (~30% of FY22 EBITS). However, challenges in China as highlighted by Pernod due to lockdowns could be a risk for Treasury’s wine volumes which may be landing in China through the grey channel.

The post Broker tips the Treasury Wine share price to pop 23% higher appeared first on The Motley Fool Australia.

More reading

• Broker names 2 of the ‘best’ blue chip ASX 200 shares to buy now
• Broker names the best ASX shares to buy right now
• The Treasury Wine share price has tumbled 9% in 2022, so is the dividend yield worth its weight?
• Can the Treasury Wine share price recover from its post-China hangover?
• 2 ASX shares ripe to buy at current prices: expert

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates 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 Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is facing investor attention after the company reported its half-year results last week.

ANZ is one of the big four banks alongside Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), and National Australia Bank Ltd (ASX: NAB).

It is banking reporting season right now as every major bank releases a result or profit update. Macquarie Group Ltd (ASX: MQG) has also released its FY22 result recently.

Let’s take a look at what the ANZ result might mean for investors and its share price.

HY22 earnings wrap

ANZ said its statutory net profit after tax (NPAT) grew by 10% to $3.53 billion. However, the continuing operations cash profit actually fell by 3% to $3.11 billion. The continuing operations cash profit before credit impairments, tax, and large/notable items fell by 10% to $4.14 billion.

The board declared an interim dividend of 72 cents per share.

ANZ said its total provision release was $284 million, compared to a release of $76 million in the second half of FY21. The ANZ share price edged 0.44% higher when the results were released last Wednesday but has ended each subsequent session in the red.

Meanwhile, the bank said it saw “positive” balance sheet growth in Australia which was driven by home loan processing capability. There was also “strong” home loan momentum in New Zealand which delivered market share growth.

ANZ explained that institutional customer revenue grew “strongly” with risk-adjusted lending margins expanding.

The big four ASX bank also said that costs were “tightly managed” with ‘run the bank’ expenses being flat for the half with the investment focused on “operational resilience” and new growth opportunities.

Recently, ANZ launched its new retail banking platform called ANZ Plus. It has also been working on improving its home loan processing capacity in Australia. The bank said it is on target to grow in line with the Australian major banks by the end of FY22, but will do so as it keeps an eye on its profit margins.

In terms of the loan book performance, ANZ revealed that customers are “generally emerging from the pandemic in a position of strength, with healthy balance sheets and low levels of arrears across key segments”.

Management thoughts on the outlook

The ANZ CEO Shayne Elliot said:

Looking ahead, the economic environment is likely to be very different and we will continue to adjust our risk appetite, business setting and investment priorities as required. We are already seeing increased demand from our business customers and we are well placed to continue to support them as they manage in a world of higher inflation and interest rates.

For ANZ, we will continue to focus on the long term – investing for tomorrow and not just running today.

Is the ANZ share price a buy?

The ANZ share price ended Monday’s session at $26.03.

Macquarie currently rates ANZ as a buy, with a price target of $29.50. While the half-year result didn’t impress, the broker points out that interest rate hikes are expected to be beneficial for the net interest margin. Higher interest rates could be more useful to ANZ than other banks.

The broker Citi also rates ANZ shares as a buy, with a price target of $30.75. The end of its $8 billion cost goal means profit isn’t likely to be as high as previously expected in the next couple of years. Citi also thinks that higher interest rates will help the bank.

At the current ANZ share price, Macquarie thinks the bank will pay a grossed-up dividend yield of 7.9% in FY22 and 8% in FY23.

Citi’s projection for dividends means ANZ could pay a grossed-up dividend yield of 8.1% in FY22 and 9.3% in FY23.

The post Is the ANZ share price a buy and a dividend opportunity? appeared first on The Motley Fool Australia.

More reading

• Why is the ANZ share price sliding on Monday?
• Is it too late to buy big bank ASX shares?
• Top brokers name 3 ASX shares to buy next week
• Hoping to secure the next ANZ dividend? Here’s what you need to do
• Top brokers name 3 ASX shares to buy today

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 recommended Macquarie Group Limited and Westpac Banking Corporation. 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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Ask a Fund Manager

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In part 1 of this edition, Michael Steele, co-portfolio manager at Yarra Capital Management, explains the strategies driving the UBS Yarra Australian Small Companies Fund’s ASX small-cap share investment outperformance.

The Motley Fool: How would you describe the UBS Yarra Australian Small Companies Fund to a potential client?

Michael Steele: Firstly, we’re investing in small-cap companies on the Australian securities exchange. That means we’re investing in companies outside of the ASX 100.

Secondly, the stocks we are investing are from a bottom-up perspective. All the stocks we invest in are based on company specific insights that are developed by our investment team.

Thirdly, when you look at our strategy overall, it’s generated really strong outperformance over time. It’s been in operating for the last six years, and outperformed the S&P/ASX Small Ordinaries Accumulation Index by 6.8% per annum.

MF: What about risk management within the portfolio?

MS: Yes, that’s the fourth point to note.

We have a really high focus on risk management within the investment process. Importantly, that comes through in returns. If you look at the volatility of returns over time, it’s quite low with strong risk-adjusted returns.

We do that by considering ESG [environmental, social and governance] risks, and by considering the durability of cash flows. Does the company have a sustainable balance sheet? And also, we look at how our different positions interact with each other.

The final point is we are generally long-term investors. So, we buy all companies with at least a three-year time horizon. If you look at the portfolio, on average we hold companies for four years.

MF: You invest in the smaller end of the ASX. Is there a minimal market cap you won’t go below?

MS: Typically, we want to invest in companies that are outside of the top 100 that have a market capitalisation greater than $250 million. We define companies below $250 million as microcaps, so we don’t invest in them. We have another portfolio manager in the broader team with a focus on microcaps.

MF: What are the advantages of investing in the smaller end of the market compared to the top 100 ASX blue-chips?

MS: Firstly, there’s a larger information inefficiency. There’s a much higher potential for an alpha, or outperformance, in the small-cap part of the market because there’s much less research and publicly available information. We add value by doing our own research and understanding companies, compared to the ASX 100, where there’s a much more efficient and researched market.

Secondly, small-cap companies, in general, tend to be higher growth. You’ve got companies that are earlier in their lifecycle. They’re developing, they’re growing from a smaller base, they’re earlier stage businesses. And you generally have higher growth and you don’t have legacy headwinds.

And the third point is there’s a much broader investment universe. With ASX small-caps, we’ve got a much larger cohort of companies to look at. And you don’t have a big sector concentration, which provides much more diversity in what you can invest in.

If you look at the ASX 100, 30% of that market is financials, whereas we only have about 10%. So, we’ve got greater flexibility to invest in a range of different sectors and which can generate a range of different outcomes for clients.

MF: Those are some significant advantages. On the flip side, what are the risks of investing in a portfolio of ASX small-cap shares?

MS: If you look back through time, the small-cap market tends to have greater volatility when you have equity market corrections. We seek to construct our portfolio with lower risk by investing in companies that have got durable cash flows and strong balance sheets. So, when you have market corrections, we hope to preserve capital better than the benchmark.

***

Tune in tomorrow for part 2 of our interview, where Yarra Capital’s Michael Steele unveils his fund’s two top ASX small-cap share picks.

(You can find out more about the UBS Yarra Australian Small Companies Fund here.)

The post The secret to an outperforming ASX small-cap share portfolio: fund manager appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares to buy as Aussies tighten their belts
• Broker names 2 of the ‘best’ blue chip ASX 200 shares to buy now
• 2 ASX shares at ‘appealing’ buy prices right now
• 5 things to watch on the ASX 200 on Tuesday
• 3 fantastic ETFs for ASX investors to buy this week

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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After more than 11 years, Australia finally saw interest rates head upwards last week.

The Reserve Bank’s 25 basis-point boost in the cash rate was a rude awakening for an entire generation of consumers and homeowners that have never seen their debt obligations increase.

What does this mean?

The whole point of the RBA’s move is, not just to be a pain for the sake of it, but to stop people spending money in order to bring down inflation.

So if that goal is achieved, which ASX shares will not be anxious about a dramatic plunge in revenue?

One strategy is to back the companies that sell goods and services that Australians just cannot do without, regardless of the economic cycle.

Sequoia Wealth Management advisor Peter Day had a couple of “buy” ideas:

Drinks whether you’re at home or going out

The structure of Endeavour Group Ltd (ASX: EDV) is clever in that it has both a liquor retailing arm and hospitality business.

When people stayed home during the long COVID-19 lockdowns, its retail unit thrived as bored Australians sought to drink at home.

Then as vaccination rates soared and state governments loosened restrictions, its pubs and hotels saw improved business.

Now if Australians put away their wallets after their mortgage repayments rise, they may head back to drinking at home.

For Day, a recent acquisition is also a tailwind.

“Endeavour, in partnership with Warakirri Asset Management, have acquired Josef Chromy Wines in Tasmania for $55 million,” he told The Bull.

“We view the acquisition as a positive step. It’s consistent with our view that Endeavour is seeking margin accretive opportunities.”

Day suspected Josef Chromy would be added to the Pinnacle Drinks unit within Endeavour.

“Growth in Pinnacle brands and hotels are key opportunities underpinning our buy recommendation.”

If two analysts say the same thing, then this must be a buy

You will have shopped in one of Wesfarmers Ltd (ASX: WES)’s retail chains at one time or another: Bunnings, Kmart, Officeworks and Target.

Those stores sell everyday items that Australians will still need, regardless of whether they are taking on additional mortgage costs.

Wesfarmer’s brands make up a “quality retail portfolio”, according to Day. 

“Bunnings remains a solid performer, as people continue to invest in their homes.”

The stock price has been pummelled in recent times, plunging more than 18% so far this year and almost 26% since August.

But this just makes it even more tempting to buy for Day.

“We see the recent share price retreat providing a good entry point for investors,” he said.

“The Wesfarmers management team is highly [regarded] and the balance sheet is healthy.”

Morgans analyst Andrew Tang expressed the same view last week in almost the same words in his Best Ideas memo.

“We see the recent pullback in the share price as a good entry point for longer-term investors,” he said.

“The core Bunnings division remains a solid performer as consumers continue to invest in their homes.”

Tang also nominated Endeavour as one of his current buy recommendations.

The post 2 ASX shares to buy as Aussies tighten their belt appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Broker names 2 of the ‘best’ ASX dividend shares to buy next week
• Guess which ASX 200 shares are defying today’s sell-off to climb higher
• Why is the Wesfarmers share price defying today’s ASX 200 bloodbath?
• Wesfarmers share price slips as Bunnings competition heats up

Motley Fool contributor Tony Yoo 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 Wesfarmers 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 team at Morgans has been looking over a number of ASX 200 shares once again.

Among its best ideas for May are the blue chip ASX 200 shares listed below. Here’s what you need to know about them:

ResMed Inc (ASX: RMD)

The first ASX 200 share that could be in the buy zone according to Morgans is ResMed. While the broker suspects that supply chain issues could make things volatile in the near term, it remains very positive on the long term.

While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.

Morgans has an add rating and $39.23 price target on ResMed’s shares.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX 200 share that could be a top option for investors is Treasury Wine. Morgans rates the wine giant highly due to its strong portfolio and its recent restructuring. All in all, it feels this has positioned the company for strong growth over the coming years.

TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The company recently reported an impressive 1H22 result despite facing a number of material headwinds. The foundations are now in place for TWE to deliver strong double-digit growth from 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.

Morgans has an add rating and $13.93 price target on Treasury Wine’s shares.

The post Broker names 2 of the ‘best’ blue chip ASX 200 shares to buy now appeared first on The Motley Fool Australia.

More reading

• Hoping to bag the Resmed dividend? Read this
• Guess which ASX 200 shares are defying today’s sell-off to climb higher
• 2 medical tech ASX shares Morgans loves right now
• Broker names the best ASX shares to buy right now
• Leading brokers name 3 ASX shares to buy today

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. and Treasury Wine Estates 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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Unfortunately the S&P/ASX 200 Index (ASX: XJO) has plunged almost 4.8% over the past month as investors’ nerves have been tested.

There is much anxiety about inflation and rising interest rates — not to mention a vicious invasion of a democratic country in Europe.

But with volatility comes opportunity. 

Fairmont Equities managing director Michael Gable nominated 2 ASX shares he would pounce on right now:

Lithium miner going for cheap

Lithium producers are all the rage these days, with the element in hot demand as an ingredient for high-end batteries.

Despite this, Australian lithium miner Pilbara Minerals Ltd (ASX: PLS) has seen its share price sink almost 16% in the past month, to close Monday at $2.56.

“The share price has fallen from $3.62 on April 4,” Gable told The Bull.

“The price fall provides an appealing buying opportunity, in our view.”

According to The Motley Fool colleague James Mickleboro, the stock price weakness is not related to the business internally, but rather a market-wide pullback on lithium.

“The lithium industry has been hit particularly hard, with Pilbara Minerals just one of many lithium shares that are recording sizable declines.”

Gable agrees, noting business metrics for Pilbara look good.

“This lithium company recently posted a solid March quarter activities report. Lithium prices continued to climb, while cash costs fell,” he said.

“Production is expected to increase during 2022.”

Despite the recent pullback in the stock price, Pilbara shares are still double what they were 12 months ago.

Is this former darling ready to rocket again?

After being a star performer for decades, the COVID-19 era over the past couple of years has seen CSL Limited (ASX: CSL) shares go nowhere.

But Gable, who is an expert in share price movement (technical) analysis, reckons the biotechnology stock could be ready to break out.

“The share price of this blood products group has been mostly range bound for the past two years,” he said.

“CSL recently bounced off the lower part of its trading range, and upward share price momentum paints a positive outlook.”

The Australian giant has a large plasma collection business in the US, which took a huge hit during the pandemic with donors staying home.

Gable suspects this arm can’t do anything but improve from here.

“We expect buyer support in response to improving collections of plasma.”

CSL shares have dropped more than 8.3% for the year, and remain at almost the same price as when the March 2020 coronavirus crash struck.

The post 2 ASX shares at ‘appealing’ buy prices right now appeared first on The Motley Fool Australia.

More reading

• How did the CSL share price escape the carnage today?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Macquarie picks ASX 200 shares to buy in this volatile environment
• Low charge: Is the party over for ASX lithium stocks?
• 4 ‘defensive growth’ ASX shares to buy in turbulent times: Wilsons

Motley Fool contributor Tony Yoo has positions in CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL 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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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in the red. The benchmark index fell 1.2% to 7,120.7 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to fall again

The Australian share market looks set to continue to sink on Tuesday after another selloff on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 97 points or 1.35% lower. On Wall Street, the Dow Jones fell 2%, the S&P 500 dropped 3.2%, and the Nasdaq crashed 4.3%.

Tech shares under pressure

Things look set to go from bad to worse for Australia’s tech sector on Tuesday. The likes of Appen Ltd (ASX: APX) and Block Inc (ASX: SQ2) are likely to fall deep into the red following a selloff in the US tech sector. Block’s US listed shares crashed a sizeable 13% during overnight trade on the NYSE.

Oil prices sink

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult day after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 6.4% to US$102.74 a barrel and the Brent crude oil price has fallen 6.2% to US$105.46 a barrel. Traders were selling oil amid concerns over China’s lockdowns.

Gold price tumbles

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a bad day after the gold price sank overnight despite the market selloff. According to CNBC, the spot gold price is down 1.6% to US$1,851.5 an ounce. The precious metal was sold off after US bond yields rose

Wesfarmers rated as a sell

The Wesfarmers Ltd (ASX: WES) share price could be heading lower from here according to analysts at Goldman Sachs. This morning the broker reiterated its sell rating with a $38.60 price target on the conglomerate’s shares. This implies potential downside of over 20% for investors. Goldman expects Wesfarmers to be impacted from softening consumer demand due to broad-based inflation and higher housing costs.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• ‘Do not panic’: Experts explain how to stay calm and carry on investing amid rising interest rates
• Do Beach Energy shares pay dividends?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Macquarie share price tumbles 4% to 9-week low. Is it time to pounce?

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 Appen Ltd and Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. and Wesfarmers 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 you’re looking for an easy way to invest, then exchange traded funds (ETFs) could be worth considering. Rather than deciding which individual shares to buy, ETFs allow you to invest in a large group of shares through just a single investment.

With that in mind, here are three ETFs that are popular with analysts and investors right now:

BetaShares Global Energy Companies ETF (ASX: FUEL)

The first ETF to look at is the BetaShares Global Energy Companies ETF. This ETF provides investors with access to a group of global energy companies. This could make it a top option for investors looking to gain exposure to sky-high energy prices. Among the 50+ shares included in the fund are energy giants such as BP, Chevron, ExxonMobil, and Royal Dutch Shell. Last week the latter reported a quarterly profit of US$9.13 billion, which was almost triple its US$3.2 billion profit from the same period last year.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

Another ETF to look at is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors easy exposure to a portfolio of the largest companies involved in video game development, hardware, and eSports. The gaming market has been growing strongly in recent years and now has an estimated 2.7 billion gamers globally according to VanEck, which is more than Netflix and iPhone users combined. To be included in the fund, a company is required to generate at least 50% of their revenues from video gaming and eSports. Making the cut are the likes of Nvidia, Roblox, Take-Two, and Electronic Arts.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF for investors to look at is the Vanguard MSCI Index International Shares ETF. This ETF provides investors with exposure to a massive ~1,500 of the world’s largest listed companies. This could make it a good option for investors seeking to add some diversification to a portfolio. Among the companies you’ll be investing in are giants such as Amazon, Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa.

The post 3 fantastic ETFs for ASX investors to buy this week appeared first on The Motley Fool Australia.

More reading

• These 2 ETFs could help to protect ASX investors against inflation
• How diversified is the Vanguard International Shares ETF?
• Are these 2 compelling ASX shares buys in May 2022?
• 5 ASX ETFs to combat inflation: fund manager
• Which ASX 200 shares have historically performed well during rising inflation?

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 BetaShares Global Energy Companies ETF – Currency Hedged and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF and Vanguard MSCI Index International Shares ETF. 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) left investors disappointed once more as markets made another move downwards. At the end of the session, the benchmark index finished 1.18% lower at 7,120.6 points.

Shareholders experienced firsthand the 54-day high in the volatility index today as the violent sways in Aussie shares continue. The most dramatic swing to the downside could be seen in the real estate sector, with a fall of 4.2%. Similarly, tech and mining shares had an unfruitful day, both sectors tumbling more than 2%.

In contrast, energy shares in the index received a boost today following a gain in oil prices overnight. The Brent crude oil price strengthened 1.5% to US$112.39 a barrel — setting up oil and gas shares on Monday.

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, Westpac Banking Corporation (ASX: WBC) was the biggest gainer today. Shares in the major bank added 3.23% following the publication of its half-year results which showed a continued focus on cost reductions. Find out more about Westpac Banking Corporation here.

The next best performing ASX share across the market today was Whitehaven Coal Ltd (ASX: WHC). The coal producer rallied 2.63% despite there being no price-sensitive announcements from the company. However, there was a backdrop of strength across energy shares today. Uncover the latest Whitehaven Coal details here.

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

ASX-listed company	Share price	Price change
Westpac Banking Corporation (ASX: WBC)	$24.60	3.23%
Whitehaven Coal Ltd (ASX: WHC)	$5.08	2.63%
TPG Telecom Ltd (ASX: TPG)	$5.70	2.33%
Domino’s Pizza Enterprises Ltd (ASX: DMP)	$67.60	1.98%
Meridian Energy Ltd (ASX: MEZ)	$4.20	1.94%
Amcor Plc (ASX: AMC)	$18.08	1.52%
Iress Ltd (ASX: IRE)	$10.60	1.44%
Ramsay Health Care Ltd (ASX: RHC)	$78.75	1.22%
Metcash Ltd (ASX: MTS)	$4.74	1.07%
Beach Energy Ltd (ASX: MND)	$1.675	0.90%

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

• 3 ASX All Ordinaries shares that managed to post decent gains on Monday
• ‘Do not panic’: Experts explain how to stay calm and carry on investing amid rising interest rates
• Why BrainChip, PolyNovo, TPG, and Westpac shares are pushing higher
• Here are the 3 most heavily traded ASX 200 shares on Monday
• These ASX shares pay you to own them

Motley Fool contributor Mitchell Lawler 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 Amcor Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Ramsay Health Care Limited, TPG Telecom Limited, and Westpac Banking Corporation. 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 Hawsons Iron Ltd (ASX: HIO) share price had a horror day on the market today.

The explorer’s shares opened at 65 cents and fell a whopping 23.08% through the day to close at 50 cents. For perspective, the S&P/ASX 200 Index descended 1.18%.

Let’s take a look at what might have impacted the Hawsons Iron share price today.

Iron ore prices plunge

The Hawsons Iron share price has been volatile in recent days. In today’s trade, it dropped massively despite no price-sensitive news from the company.

It’s likely that sinking iron ore prices could be impacting the company’s share price. Singapore iron ore futures dropped 6.7% in global markets to US$128.75. Iron ore on China’s Dalian Commodity Exchange also gravitated more than 5% on Friday after traders reacted to China’s COVID-19 zero policy.

Shares of iron ore producers Fortescue Metals (ASX: FMG) and BHP Group Ltd (ASX: BHP) also dropped 5.76% and 1.26% respectively today. Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) fell 1.89%.

Hawsons is exploring the Hawsons Iron Project near Broken Hill in New South Wales. This project received a three-year major project status renewal in March.

The company’s share price soared nearly 59% between market close on 27 April and 2 May. Investors appeared to react positively to the quarterly report released on 29 April. The company reported a cash balance of $18.377 million. However, since the market close on 2 May, the company’s share price has slipped 43%.

Hawsons Iron share price snapshot

The Hawsons Iron share price has exploded more than 1000% in a year and is up 233% this year-to-date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned less than 1% in the past year.

Hawsons has a market capitalisation of about $357.5 million based on today’s share price.

The post Why did the Hawsons Iron share price plunge more than 23% today? appeared first on The Motley Fool Australia.

More reading

• Hawsons Iron share price tumbles another 9% on Friday. What’s going on?
• Hawsons Iron share price volatility continues with more wild swings on Wednesday
• Hawsons Iron share price subjects investors to wild ride on Tuesday
• Guess which ASX iron ore share has surged more than 260% in a month. Hint: it’s not Fortescue

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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