S&P/ASX 200 Index (ASX: XJO) mining and tech shares weighed on the market on Monday. The ASX 200 index was 1.14% lower at 6,602.20 points when the market closed.

Its suffering came on the back of a mixed session on Wall Street. The S&P 500 slipped close to 0.1% on Friday while the Dow Jones Industrial Average fell 0.15%. Meanwhile, the NASDAQ Composite rose 0.12%.

The S&P/ASX 200 Materials Index (ASX: XMJ) plunged more than 2% on Monday, potentially on the back of falling base metals. Iron ore futures lifted 0.4% on Friday to trade at US$113.76 – 1.3% lower than it ended the previous week.

Today wasn’t much better on the S&P/ASX 200 Information Technology Index (ASX: XIJ). The sector also plunged more than 2% on Monday, driven lower by the EML Payments Ltd (ASX: EML) share price’s 24% tumble. The company notified the market of its CEO’s unexpected departure this morning.  

The S&P/ASX 200 Energy Index (ASX: XEJ) posted a slight gain today, potentially on the back of higher oil and coal prices.

At the end of Monday’s trade, two of the ASX 200’s 11 sectors were in the green.

But not all shares suffered today. Read on to find out which ASX shares bested the rest to post Monday’s biggest gains.

Top 10 ASX shares countdown

Perhaps unsurprisingly, the top performer among ASX’s 200 biggest companies by market capitalisation is coal producer New Hope Corporation Limited (ASX: NHC).

The company’s share price lifted around 5% today, likely due to rising coal prices. Read more about New Hope Corporation here.

The Meridian Energy Ltd (ASX: MEZ) share price was the second best performer, gaining around 4%. Catch up on what’s been happening with Meridian Energy here.

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

ASX-listed company	Share price	Price change
New Hope Corporation Limited (ASX: NHC)	$3.79	5.28%
Meridian Energy Ltd (ASX: MEZ)	$4.41	4.5%
Summerset Group Holdings Ltd (ASX: SNZ)	$9.36	4.23%
Suncorp Group Ltd (ASX: SUN)	$11.25	1.81%
Shopping Centres Australasia Property Group Ltd (ASX: SCP)	$2.87	1.41%
Sonic Healthcare Limited (ASX: SHL)	$33.75	1.35%
Vicinity Centres (ASX: VCX)	$1.90	1.33%
Whitehaven Coal Ltd (ASX: WHC)	$5.09	1.19%
Scentre Group (ASX: SCG)	$2.75	1.1%
Magellan Financial Group Ltd (ASX: MFG)	$12.01	1.02%

Data as at 3:59 pm AEST.

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.

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More reading

• Could the Nickel Industries share price more than double from here?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Althea, AnteoTech, New Hope, and Omni Bridgeway shares are pushing higher
• Why are Lake Resources shares becoming a short seller target?
• Here are the 5 best ASX 200 bank shares of FY22

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments and Shopping Centres Australasia Property Group. The Motley Fool Australia has recommended Sonic Healthcare 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 Breville Group Ltd (ASX: BRG) share price started the week in the red.

The appliance manufacturer’s shares ended the day almost 2% lower at $19.45.

This means the Breville share price is now down 40% in 2022.

Is the Breville share price weakness a buying opportunity?

One leading broker that sees the weakness in the Breville share price this year as a buying opportunity is Goldman Sachs.

According to a note, the broker has just initiated coverage on the company’s shares with a buy rating and $23.40 price target.

This price target implies potential upside of over 20% for investors over the next 12 months.

What did the broker say?

Goldman notes that the Breville share price has fallen heavily this year and is thoroughly underperforming the market. It believes investors are “concerned that it was a key beneficiary during COVID in-home consumption and that reopening could result in weakness from consumption.”

However, Goldman doesn’t believe this will be the case and expects its solid growth to continue thanks to a three-pronged growth strategy.

It explained:

We believe that the portioned and R&G coffee market will experience more secular growth than the market has factored in with continued upgrading from soluble coffee and added penetration of out-of-home (e.g. hotels, workplace). We see BRG as having a three-pronged growth strategy: 1) building on secular growth of the portioned and roast & ground (R&G) coffee market and achieving market share gains; 2) new market entry; and 3) options – ecosystem revenue streams.

Overall, the broker believes that this will underpin “a FY22-24e 10.4% sales CAGR and 14.9% NPAT CAGR with ROIC in 2024 of 28.9%.”

In light of this, it sees plenty of value in the Breville share price following recent weakness.

The post Top broker says Breville share price weakness is a buying opportunity appeared first on The Motley Fool Australia.

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More reading

• Here are 3 excellent ASX growth shares for investors to buy in July
• Here are the top 10 ASX shares today
• Why APM, Block, Breville, and Superloop shares are charging higher
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• Is the Breville share price out of the bargain bin?

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.

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The Resmed Inc (ASX: RMD) share price had a year of ups and downs on the market, finishing around 6% in the red.

Resmed shares reached a 52-week high of $40.28 on 23 August and, after heading sideways for a short time afterwards, began their journey south.

In broader market moves, the S&P/ASX 200 Health Care Index (ASX: XHJ) is down more than 7% year to date.

What happened with the Resmed share price in FY22?

Shares in the sleep treatment company saw a series of paper losses last financial year.

After falling off its 52-week high, outlined above, the Resmed share price continued its descent and finished at a 52-week low of $27.63 on 27 May.

It was a fairly quiet year in terms of news for the company so it was no surprise to see its share price track closely to the wider healthcare sector’s performance.

Healthcare shares as a whole weakened around September 2021. Losses were compounded in the January selloff and there’s been a slow recovery ever since.

As seen on the chart below, the healthcare index and the Resmed share price both entered a period of peaks and troughs throughout the year.

The pair have tracked remarkably closely over the past 12 months to finish down in FY22.

Despite its share price struggles in FY22, analysts are still bullish on Resmed shares. Morgans rates the company a buy and says it liked the outlook on Resmed’s “unique, patient-centric, connected-care digital platform”.

In all, eight brokers are saying Resmed shares are a buy whereas six say the company’s shares are a hold right now, according to Bloomberg data.

The post Why did the ResMed share price finish down in FY22? appeared first on The Motley Fool Australia.

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More reading

• 4 ‘quality’ ASX shares to buy in scary times: expert
• Here’s how ASX healthcare shares performed in FY22
• Why this broker is tipping the ResMed share price to rise 17%
• Pricing power: 2 ASX shares that can fight stagflation
• Best ASX shares to buy in July 2022

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 ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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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It’s been a depressing start to the week for ASX shares this Monday. At market close, the All Ordinaries Index (ASX: XAO) has lost more than 1.2% of its value. But it’s been even worse for the Vulcan Energy Resources Ltd (ASX: VUL) share price.

Vulcan shares have finished the day down a painful 6.1% at $5.39 a share, pitifully underperforming the broader markets. So what’s going on with this ASX lithium stock?

Well, we can’t quite be sure. There’s been no news out of Vulcan today at all. We haven’t heard from the company since its announcement last week.

At the time, Vulcan announced that it had entered into an agreement with an Italian renewable energy company, Enel Green Power, to “explore the development of the Cesano licence”. Enel took a 50% stake in the Cesano license, which is close to Rome in Italy. On Friday last week, we covered how the Vulcan share price lept 8% on this news.

Why is the Vulcan share price down 6% today?

But after today’s movements, Vulcan shares have given up Friday’s gains and more. At today’s closing share price of $5.39, Vulcan shares are now down 48% in 2022 so far. The company also just recorded a loss of almost 30% for the 2022 financial year.

So perhaps we can explain Vulcan’s losses by looking at the other ASX lithium shares on the market. And we do seem to be seeing a pattern. Vulcan is not the only ASX lithium stock bleeding today.

Take Pilbara Minerals Ltd (ASX: PLS). Its shares finished down 2.55%. Core Lithium Ltd (ASX: CXO) lost 3.16%, while Liontown Resources Limited (ASX: LTR) fell 2.94%.

So even though Vulcan’s losses are far more than its peers, it seems the company has just been swept up in a rejection of ASX lithium stocks by investors today. No doubt shareholders will be hoping for a better day tomorrow.

At the current Vulcan Energy Resources share price, this ASX lithium stock has a market capitalisation of more than $768 million.

The post Why has the Vulcan share price lost a nasty 6% today? appeared first on The Motley Fool Australia.

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More reading

• Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher
• Vulcan Energy share price leaps 8% on Italian energy producer agreement
• Why did the Vulcan Energy share price crater 28% in June?
• Down 8%, why is the Vulcan Energy share price burning away today?
• How is the Vulcan share price performing against its sector this month?

Motley Fool contributor Sebastian Bowen 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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