Month: May 2022

The Novonix Ltd (ASX: NVX) share price is on course to end the week on a high.

In morning trade, the battery materials and technology company’s shares are up 6.5% to $3.98.

Why is the Novonix share price surging higher?

Investors have been bidding the Novonix share price higher today despite news that a key director is exiting the board. This appears to have been driven by improving investor sentiment in the battery materials sector, which has seen a number of lithium shares shoot higher today and offset this news.

According to the release, billionaire coal magnate Trevor St Baker AO has retired from the Novonix board with immediate effect.

The release explains that Mr St Baker is exiting the role due to excessive company board representations on behalf of the St Baker Energy Innovation Fund (SBEIF). This relates to a number of the companies in which the SBEIF has invested, including Novonix.

In addition, the exiting director advised that he will be devoting more time to the establishment of a second St Baker Energy Innovation Fund.

Mr St Baker explained:

I am really very pleased to have been able to contribute as a Director of NOVONIX in its exciting establishment as such an important player in the decarbonisation transformation of global energy and transport businesses.

He also revealed that he remains a firm believer in Novonix’s growth story and it will remain a key part of his investment portfolios.

I am also excited about the Company’s continuing growth as a significant battery material and energy storage solution provider as these sectors grow to serve these transformations, and my resignation should not reflect any diminution of interest by SBEIF or of the St Baker family in NOVONIX as a serious growth stock in our investment portfolios.

What’s next?

Novonix’s Chairman, Admiral Bob Natter, thanked St Baker for his service and revealed that a succession plan is in place. He said:

The Board of NOVONIX greatly appreciates Trevor’s contribution to the growth and development of NOVONIX, as well as the continued commitment of SBEIF and the St Baker Family as shareholders and investors in NOVONIX. We have a strong Board succession plan in place, and together we look forward to the continued growth of the company.

The post Novonix share price surges higher despite billionaire’s board exit appeared first on The Motley Fool Australia.

More reading

• Novonix up 15% on Friday as the market recovers
• ASX 200 midday update: BHP, IGO, and Woolworths charge higher
• Why is the Novonix share price sinking 8% today?
• ASX 200 midday update: Aristocrat’s earnings beat, Webjet flops, retailers smashed
• Novonix share price fights to stay in the green on Monday

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 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/95PUVTC

So far 2022 has not been a year of positive returns for the S&P/ASX 200 Index (ASX: XJO). With the benchmark index down around 6% year-to-date, many well-known ASX shares within the top 200 have suffered.

For some, the damage means share prices are now flirting with the lowest levels witnessed in the past year. While this is might be painful, there’s a chance this could represent an opportunity for investors to pick up some quality companies at bargain-bin prices.

Here’s a look at three established ASX 200 shares that have been beaten up.

Profitable ASX 200 shares on the low

Bapcor Ltd (ASX: BAP)

Bapcor is an ASX 200 share that has been around for more than 50 years. What initially started out as Burson Group in 1971, Bapcor has grown to include automotive brands Autobarn, Midas, and Toperformance.

Importantly, the company maintained commendable high single-digit growth in revenue and earnings last year. Simultaneously, Bapcor has been lifting its dividends to shareholders consistently for the last five years.

The Bapcor share price is down approximately 24% over the past year. At present, shares are fetching a $6.07 price, slightly above the 52-week low of $6.00 per share.

ARB Corporation Limited (ASX: ARB)

After several years of steady growth, this ASX 200 share has enjoyed a rapid acceleration over the past 18 months. The 4X4 accessories manufacturer avoided getting bogged in 2020 — and instead, scaled its sales like a beast.

To put the company’s growth into context, revenue for the last 12 months ending June 2020 came in at $466.9 million. Fast forward to the 12 months ending December 2021, and that figure had grown by 50% to $701.2 million.

The ARB share price is 25% underwater compared to where it was a year ago. Right now, investors can snap up ARB shares at $30.55 apiece, 5 cents above its 52-week low.

Super Retail Group Ltd (ASX: SUL)

Lastly, another ASX 200 share that has stood the test of time — operating for more than 50 years — is automotive retailer Super Retail Group. To cut to the chase, the group owns a well-known competitor to Autobarn, Supercheap Auto. However, it also mixes in a variety of other outdoor-centric businesses including Rebel, BCF, and Macpac.

Much like the other companies listed above, Super Retail Group experienced a rush of growth during the FY2021 financial year. In turn, profit margins expanded from 3.9% to 8.7%, as cashed-up shoppers unloaded a spending flurry. Since then, revenue and earnings have begun to retrace to an extent. Yet, both metrics are still significantly above pre-pandemic levels.

The Super Retail Group share price is licking its wounds having tumbled 28% in the space of a year. For opportunistic investors, this presents a chance to grab shares in the company at $9.22 — 5 cents above its 52-week low.

The post Are these 3 ASX 200 shares trading around 52-week lows a buying opportunity? appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 retail shares getting hammered on Thursday?
• 3 ASX shares you might be surprised to learn pay dividends
• 2 strong ASX dividend shares hiding in plain sight
• These ASX shares pay you to own them
• These were the worst performers on the ASX 200 last week

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 positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended ARB Corporation Limited and Bapcor. 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/C5JrFQt

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

For the second day in a row, shares of Tesla (NASDAQ: TSLA) stock zoomed higher on Thursday — and indeed, after shooting up 4.9% yesterday, Tesla’s 5.8% gain as of 11:15 a.m. ET today suggests that momentum may be building behind the electric cars stock.

Once again, you can thank Cathie Wood for that.

So what

As I pointed out yesterday, on Monday and Tuesday this week, growth investor Wood swooped in to buy nearly 42,000 Tesla shares for her various ARK ETF funds. These purchases marked a sharp reversal from her actions over the past two months, during which time she sold more than 490,000 Tesla shares.  

Investors are cheering Wood’s return to the Tesla market today — but are they also following in her footsteps a moment too late?

Now what

Consider: From late March through late May, Wood consistently sold Tesla stock from just over $1,000 a share to the point where it fell below $700. Now, Tesla stock is once again just dollars away from $700 — and while Wood is still buying, her pace has slackened quite suddenly.

After she scooped up 15,858 Tesla shares on Monday and another 26,081 on Tuesday, ARK’s website shows that Wood bought only 1,343 shares of Tesla on Wednesday. The website’s reports are a day behind, but the figures suggest that Wood’s buying spree may already be approaching an end — or at least taking a breather.

At the same time, we learned last night from a Securities and Exchange Commission filing that Elon Musk has decided to replace $6.25 billion worth of planned “margin loans” for his purchase of Twitter with $6.25 billion in additional “equity financing.” On the plus side, this appears to imply that much less Tesla stock will be tied up as collateral for Musk’s loans, but it also appears to imply that the Tesla CEO may sell another $6.25 billion worth of Tesla stock to raise the cash he needs to buy the social media site.  

Long story short: It sounds like Musk is about to start selling Tesla stock again — and at the same time that Wood may stop buying Tesla stock. If that’s the way this plays out, it won’t be great news for Tesla investors. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla stock keeps going up appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock raced higher today
• Why Tesla stock turned south today
• Why Tesla stock finally bounced today
• Nasdaq sell-off: 2 growth stocks billionaires were buying in Q1
• Down almost 30% in the past month, here are 2 reasons to buy Tesla shares and 1 reason to hold off

Rich Smith 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 Tesla and Twitter. 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. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

from The Motley Fool Australia https://ift.tt/6DVxQAC

The Appen Ltd (ASX: APX) share price will be one to watch this morning.

The artificial intelligence data services company’s shares are due to return from a trading halt and are likely to tumble deep into the red.

Why is the Appen share price on watch?

On Thursday, the Appen share price rocketed 30% higher after Canada’s Telus International made a $9.50 per share takeover proposal. This was a 48% premium to its last close price and valued Appen at approximately $1.2 billion.

However, within a few hours the Appen share price was hurried into a trading halt pending a further update on the proposal.

Unfortunately, that update reveals that Telus International has withdrawn its takeover proposal no sooner than it was tabled.

According to the release, following the receipt of the proposal, Appen engaged with Telus and sought to agree an appropriate confidentiality and standstill agreement (NDA), after which Appen was prepared to make available limited business and financial information.

And while the two parties negotiated the NDA and Appen was expecting it to be executed by Telus imminently, Telus instead informed Appen that it was revoking its proposal.

What happened?

Appen advised that no reasons were given by Telus for the withdrawal of the proposal, which means speculation is now rife.

One potential reason is that Telus wanted to keep the negotiations private. However, clearly someone involved leaked the deal to the AFR, which proudly states that it “broke the news that Appen was being pursued by a potential acquirer on Wednesday evening, before the proposal was confirmed by Appen on Thursday morning.”

Because of this leak, Appen was required to disclose the indicative proposal to the market. This may not have gone down well with Telus, causing it to pull the plug on talks.

Alternatively, Telus may have been put off my Appen’s very poor trading update which accompanied the takeover announcement. Appen revealed that it “expects 1H FY22 EBITDA to be materially lower than the prior corresponding period.”

Shareholders will no doubt be hoping that Telus comes back with another offer or rumoured interest from a private equity firm materialises. But that is far from guaranteed.

One thing for sure, though, is that the Appen share price looks set for a rough ride on Friday.

The post Appen share price on watch amid takeover offer collapse appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Action aplenty: Here’s why the Appen share price has now been halted
• Will the CA$8.1 billion Telus International up its bid for ASX-listed Appen?
• Why ALS, Appen, Objective Corp, and WiseTech shares are pushing higher
• ASX 200 midday update: Appen rockets, Westpac super update

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. 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/k6FJzPp

Ask A Fund Manager

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, Catapult Wealth portfolio manager Tim Haselum explains why one particular ASX share would sit comfortably in his stable for years to come.

The ASX share for a comfortable night’s sleep

The Motley Fool: If the market closed tomorrow for four years, which stock would you want to hold?

Tim Haselum: I went for an easy one here, and it’s just the ASX Ltd (ASX: ASX).

We like the fact that it’s a near monopoly, but obviously making some good moves upgrading the tech. They’ve had some wobbles and issues but that’s fine. 

I would say, look, if you’re on a 20-year timeframe, maybe I’d be a little bit worried about something happening, but on a four-year timeframe, we think that the earnings are pretty predictable and stable here. We think there’s going to be lots of capital raisings here, equity market volumes seem to be relatively strong.

We think that now the RBA is not trying to tamper with [the] yield curve, the bond trading revenue’s going to come back, I just think when it comes to predictability of earnings and market share, ASX is one that’s for four years, there’s no worries there. It’s pretty high quality in our books.

MF: Great to hear your opinion on ASX the stock, because we don’t have a lot of analysts that cover it.

TH: Probably because it’s boring!

Looking back

MF: Is there a move that you regret from the past? For example, a missed opportunity or buying a stock at the wrong timing or price.

TH: I would say the missed opportunity, it has to be Afterpay, right?

For us, we looked at it and we were just like, “The valuations are just… Where are you pulling it from?”

You could argue that the buy now, pay later segment in general, that was our generation’s tech boom. It was insane. 

We just thought it looked so frothy and even though Afterpay had the first-mover advantage and it did look prestigious and it clearly got a lot of traction, it was just too hard a call to put it in the portfolio. 

What’d it get to? $7 at the bottom of COVID [in March 2020]?

MF: Yes, around there.

TH: The amount of upside that we missed out on was humongous, but for us when we think about quality and value and those measures, it was just too hard a call to put it in. 

I mean, I know a lot of people were pumping up Zip Co Ltd (ASX: ZIP) and look what happened to that, right? Maybe flip a coin, Afterpay or Zip, and maybe it was right just to stay away but that was a tough one. Especially when it got taken over, the regret… I was like, “damn it”!

MF: But one could argue, if it was still a standalone stock now, it would be quite low.

TH: That’s right. Yeah.

The post ‘An easy one’: Expert reveals which ASX share he’d hold for 4 years appeared first on The Motley Fool Australia.

More reading

• Why is the Zip share price beating the ASX 200 today?
• The Zip share price is down 80% in 2022. Should you cut your losses?
• ‘Just horrific’: Why this fundie says Zip should abandon its Sezzle takeover
• The Zip share price is rocketing 6% today. Here’s why
• Zip just joined forces with another ASX 200 company

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 positions in and has recommended ZIPCOLTD FPO. 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/7gSAZ5K

If you’re looking to combat rising inflation with some ASX 200 dividend shares, then the two listed below could be worth considering.

Analysts have recently named these ASX 200 dividend shares as buys. Here’s what you need to know about them:

National Australia Bank Ltd (ASX: NAB)

The first ASX 200 dividend share that analysts rate as a buy is banking giant NAB.

Goldman Sachs is very positive on NAB due to its balance sheet mix, which the broker feels provides the best exposure to the domestic system growth. It also highlights that NAB’s franchise is performing strongly, growing at or above system growth in most segments, and expects this to continue.

It commented: “[NAB] remains our preferred sector exposure given: i) NAB’s balance sheet mix provides the best exposure to the domestic system growth we foresee over the next 12-18 months, which should favour commercial over mortgage lending, ii) NAB’s franchise is performing strongly, growing at or above system growth in most segments, iii) NAB’s disclosure on NIM leverage to higher rates is even more optimistic than we previously estimated.”

In light of this, the broker has Goldman Sachs recently retained their conviction buy rating on the bank’s shares with a $34.17 price target.

Its analysts are also forecasting attractive dividend yields in the near term. They have pencilled in fully franked dividends of $1.50 per share in FY 2022 and $1.65 per share in FY 2023. Based on the current NAB share price of $31.57, this implies yields of 4.75% and 5.2%, respectively.

South32 Ltd (ASX: S32)

Another ASX 200 dividend share to look at is South32. It is diversified mining and metals company producing a range of commodities. This includes alumina, aluminium, bauxite, coal, copper, manganese, nickel, and silver across operations in Australia, Southern Africa and South America.

Morgans is a big fan of the company. It currently has an add rating and $6.10 price target on the miner’s shares.

The broker commented: “We see attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy.”

As for dividends, Morgans is forecasting fully franked dividends in the region of 26 cents per share in FY 2022 and 35 cents per share in FY 2023. Based on the current South32 share price of $4.65, this equates to yields of 5.5% and 7.5%, respectively.

The post Here are 2 ASX 200 dividend shares rated as buys by brokers appeared first on The Motley Fool Australia.

More reading

• NAB share price lifts amid BNPL product reveal
• Why is the NAB share price having such a cracker of a day?
• Do South32 shares have exposure to ‘green metals’?
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• 3 reasons this broker thinks the NAB share price is great value

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 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/JzOLCRj

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.7% to 7,105.9 points.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to jump

The Australian share market looks set to end the week on a positive note following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 69 points or 1% lower this morning. In the US, the Dow Jones was up 1.6%, the S&P 500 rose 2%, and the Nasdaq stormed 2.7%.

Appen takeover offer withdrawn

The Appen Ltd (ASX: APX) share price could come crashing back down to earth on Friday after Telus International withdrew its takeover approach just hours after it was made public without comment. In addition, the artificial intelligence data services company released a particularly poor trading update when revealing the takeover proposal. Now, all the focus will be on that.

Oil prices storm higher

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a very positive finish to the week after oil prices stormed higher. According to Bloomberg, the WTI crude oil price is up 3.2% to US$113.85 a barrel and the Brent crude oil price is up 2.75% to US$117.16 a barrel.

Gold price edges higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.15% to US$1,849.3 an ounce. The gold price rose despite the US Fed’s aggressive policy stance.

Westpac rated neutral

According to a note out of Goldman Sachs, its analysts have held firm with their neutral rating on Westpac Banking Corp (ASX: WBC) shares. Though, with a price target of $27.29, this implies material upside for investors. In response to the bank’s super fund merger and asset management sale, Goldman said: “We view these transactions as entirely consistent with WBC’s strategy of simplifying the overall group.”

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

More reading

• Here are the top 10 ASX shares today
• Action aplenty: Here’s why the Appen share price has now been halted
• How do ASX shares typically perform following a demerger?
• Why is the Zip share price beating the ASX 200 today?
• Will the CA$8.1 billion Telus International up its bid for ASX-listed Appen?

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd. The Motley Fool Australia has recommended Westpac Banking 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/RLXHAc8

If you’re wanting to boost your income with some dividend shares, then you might want to consider the two listed below.

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

Adairs Ltd (ASX: ADH)

The first ASX dividend share for investors to look at is leading furniture and homewares retailer, Adairs.

Its shares hit a new 52-week low on Thursday, which means they are now down 45% since the start of the year.

While this is disappointing, the team at Morgans appear to believe it could be a buying opportunity. Particularly given its belief that the introduction of Adairs’ new national distribution centre and the newly acquired Focus on Furniture business will “underpin an expectation of positive earnings growth in FY23 and FY24, which we do not think are reflected in the multiple.”

Its analysts currently have an add rating and $3.50 price target on the company’s shares. Based on the current Adairs share price of $2.24, this implies significant upside for investors.

But it gets better, with the broker forecasting fully franked dividends of 19 cents per share in FY 2022 and 26 cents per share in FY 2023. If Adairs does indeed pay these dividends, it will mean yields of 8.4% and 11.6%, respectively, over the next couple of years.

Elders Ltd (ASX: ELD)

Another ASX dividend share to look at is Elders. It is an agribusiness company that provides a range of services to rural and regional customers across the Australia/New Zealand region.

Unlike Adairs, Elders’ shares have been performing positively this year. This has been underpinned by its strong performance in FY 2022, which saw Elders report an 80% increase in first-half EBIT to $132.8 million last week.

The team at Goldman Sachs was impressed. In response, the broker put a buy rating and $21.00 price target on its shares. It likes Elders due to its “strong track record; good industry structure; potential for positive earnings surprise; and an attractive valuation.”

In addition, the broker expects dividends per share of 50 cents in FY 2022 and 53 cents in FY 2023. Based on the current Elders share price of $13.38, this implies attractive yields of 3.7% and 4%, respectively.

The post Experts name 2 top ASX dividend shares to buy now appeared first on The Motley Fool Australia.

More reading

• This ASX 200 company just hiked its latest dividend by almost 70%, here’s what you need to know
• Here are the top 10 ASX shares today
• 3 ASX All Ordinaries shares starting the week with new 52-week highs
• Why BrainChip, Codan, Elders, and Karoon Energy are storming higher
• ASX 200 midday update: Elders and Codan rocket, Incitec Pivot disappoints

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. owns and has recommended ADAIRS FPO. The Motley Fool Australia owns and has recommended ADAIRS FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/2C5FwNx

If you’re interested in adding some growth shares to your portfolio, then the two listed below could be worth a look.

These ASX growth shares have been named as buys and tipped to climb materially higher from current levels. Here’s what you need to know about them:

Aristocrat Leisure Limited (ASX: ALL)

The first growth share for investors to look at is Aristocrat. It is a gaming technology company with a portfolio of world class pokie machines and digital games. The latter includes the hugely popular Raid: Shadow Legends, which is generating significant recurring revenues for its Pixel United business. In addition, the company is looking to win a big share of the emerging real money gaming market.

The team at Citi is very positive on Aristocrat and believes it “represents a compelling long-term growth story.” It currently has a buy rating and $41.00 price target on the company’s shares. Based on the current Aristocrat share price of $33.95, this implies potential upside of 21% for investors over the next 12 months.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share that could have room to race higher is Lovisa. It is a fast-fashion jewellery retailer which has been growing at a solid for over a decade. The good news is that due to the popularity of its offering and its global expansion plans, the company has been tipped to continue this trend long into the future.

Morgans is very positive on Lovisa and believes the company could “prove to be one of the biggest success stories in Australian retail.” Its analysts have an add rating and $24.00 price target on its shares. Based on the current Lovisa share price of $14.51, this implies potential upside of 65% for investors over the next 12 months.

The post Analysts name 2 ASX growth shares to buy with major upside potential appeared first on The Motley Fool Australia.

More reading

• Looking to secure the Aristocrat biggest-ever dividend? Here’s what you need to do
• 3 ASX growth shares brokers rate as buys right now
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• Buy these ASX growth shares in May: experts
• Top brokers name 3 ASX shares to buy next week

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 Lovisa Holdings Ltd. 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/x4APNOd

Today, the S&P/ASX 200 Index (ASX: XJO) struggled to find momentum as investors fled equities across nearly all sectors. At the end of the session, the benchmark index finished 0.69% lower at 7,105.9 points.

The headlines continue to be dominated by disconcerting developments at a macro level. Today, it was a combination of economic growth warnings from China and the US Federal Reserve suggesting it will be raising rates at the next two meetings.

Almost in unison, 10 of the 11 sectors sunk into the red today amid suppressed sentiment. The only portion of the market to escape the crimson fate was tech shares, buoyed by a takeover bid for Appen Ltd (ASX: APX).

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, ALS Ltd (ASX: ALQ) was the biggest gainer today. Shares in the testing, inspection, and certification company jumped 6.08% after releasing solid full-year results yesterday. The team at Morgans released a note this morning giving the company an ‘add’ rating. Find out more about ALS here.

The next best performing ASX share across the market today was Lake Resources Ltd (ASX: LKE). The lithium exploration company lifted 2.82% despite not releasing any announcements. Although, strength was prevalent across lithium names today. Uncover the latest Lake Resources details here.

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

ASX-listed company	Share price	Price change
ALS Ltd (ASX: ALQ)	$12.74	6.08%
Lake Resources Ltd (ASX: LKE)	$1.46	2.82%
Pro Medicus Ltd (ASX: PME)	$40.66	2.68%
Wisetech Global Ltd (ASX: WTC)	$40.80	2.36%
Virgin Money Uk Plc (ASX: VUK)	$2.66	2.31%
Ansell Ltd (ASX: ANN)	$27.36	2.01%
REA Group Ltd (ASX: REA)	$110.97	1.97%
Infratil Ltd (ASX: IFT)	$7.35	1.80%
Chorus Ltd (ASX: CNU)	$6.70	1.67%
Core Lithium Ltd (ASX: CXO)	$1.28	1.59%

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

• How do ASX shares typically perform following a demerger?
• Why is the Zip share price beating the ASX 200 today?
• The Lake Resources share price has plummeted 30% in a month. What’s going on?
• Why ALS, Appen, Objective Corp, and WiseTech shares are pushing higher
• Are newly-listed Lottery Corp shares worth buying? ASX brokers weigh in

Motley Fool contributor Mitchell Lawler has positions in Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus Ltd. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. and WiseTech Global. The Motley Fool Australia has recommended Ansell Ltd. and REA 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/ZPBRNDF