Day: 28 July 2022

Are you looking to boost your income with some dividend shares? Then you might want to look at the two listed below.

Both of these dividend shares are expected to provide investors with attractive yields in the near term. Here’s what you need to know about them:

Coles Group Ltd (ASX: COL)

The first ASX dividend share for income investors to consider is supermarket giant Coles.

It could be a top option for income investors due to its defensive qualities and the positive outlook of its growing network of supermarket, convenience stores, and liquor stores.

In addition, this network is being supported by the company’s bold refreshed strategy, which is focusing on cutting costs through automation and efficiencies. This is expected to boost Coles’ profitability in the coming years.

Morgans is positive on Coles and has an add rating and $20.65 price target on its shares.

In respect to dividends, the broker is forecasting fully franked dividends of 61 cents per share in FY 2022 and 64 cents per share in FY 2023. Based on the latest Coles share price of $18.64, this will mean yields of 3.3% and 3.4%, respectively.

National Storage REIT (ASX: NSR)

Another ASX dividend share to look at is leading self-storage operator, National Storage.

Through its portfolio of over 200 centres, the company provides tailored storage solutions to approximately 100,000 residential and commercial customers.

But management isn’t settling for that and continues to see plenty of room to grow in the future. This is because the self storage industry remains highly fragmented, which provides National Storage with plenty of high-quality acquisition opportunities to bolster its growth inorganically.

Ord Minnett is a fan of National Storage. The broker currently has a buy rating and $2.70 price target on its shares.

As for dividends, its analysts are forecasting dividends per share of 10 cents in FY 2022 and 11 cents in FY 2023. Based on the current National Storage share price of $2.41, this equates to yields of 4.15% and 4.55%, respectively.

The post Analysts name 2 ASX dividend shares with good yields to buy appeared first on The Motley Fool Australia.

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More reading

• Why I think Coles shares are a compelling buy today
• Here are 2 ASX 200 dividend shares to buy according to experts
• 2 ASX shares ready for growth in FY2023: expert
• Can the Coles share price beat the ASX 200 again in FY23?
• Here are top 2 ASX dividend shares with great yields

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 positions in and has recommended COLESGROUP DEF SET. 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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Investors that are wanting to diversify their portfolio with some exposure to the mining sector might want to check out the two ASX shares listed below.

Both have been tipped as top options for investors in the sector with significant upside potential. Here’s what you need to know about these mining shares:

Iluka Resources Limited (ASX: ILU)

The first ASX mining share for investors to consider is Iluka.

It is a mineral sands and rare earths company with a number of quality operations across South Australia and Western Australia. This includes the exciting Eneabba project, where the company is developing a fully integrated rare earths refinery.

Analysts at Goldman Sachs are very bullish on Iluka. So much so, the broker has the company on its coveted conviction list. Its analysts explained:

We are Buy rated on mineral sands/rare earth producer ILU (on CL) on attractive valuation and compelling Zircon and TiO2 price upside and Rare Earth growth potential.

We think ILU is undervalued (on c. 6x EBITDA NTM) vs. key rare earth (c. 15x) and mineral sands/pigment (c. 6x) industry peers. Positive on project pipeline and forecast >40% production growth in mineral sands volumes, c.18ktpa of Rare Earths, and a >50% increase in EBITDA over the next 5 yrs to 2026 The Zircon and TiO2 feedstock markets entered a 3-yr supply side driven deficit in 2021, and we see ongoing upside risk to prices in 2022

Goldman Sachs currently has a conviction buy rating and $13.80 price target on Iluka’s shares.

South32 Ltd (ASX: S32)

Another ASX mining share that has been tipped as a buy is South32.

This mining giant was spun out of BHP Group Ltd (ASX: BHP) in 2015 and has gone onto become a force of its own. Particularly given the recent transformation of its portfolio to give it exposure to metals that will be important to the decarbonisation megatrend.

One broker that has taken note of this transformation is Morgans. It has been pleased with the work management has undertaken and believes it is well-placed for the long term. The broker explained:

S32 has transformed its portfolio divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32’s risk and ESG profile. Unlike its peers amongst ASX-listed large-cap miners, S32 is not exposed to iron ore. Instead offering a highly diversified portfolio of base metals and metallurgical coal (with most of these metals enjoying solid price strength). 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.

Morgans has an add rating and $6.10 price target on South32’s shares.

The post Here’s why experts say these are the ASX mining shares to buy now appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Block, Iluka, Nitro, and Novonix shares are dropping today
• Why is the Iluka share price sinking today?
• 5 things to watch on the ASX 200 on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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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Are you looking for some top exchange traded funds (ETFs) to add to your portfolio? If you are, then listed below are two ETFs that analysts are tipping as buys.

Here’s what analysts are saying about them:

ETFS Battery Tech & Lithium ETF (ASX: ACDC)

The first ETF to look at is the ETFS Battery Tech & Lithium ETF. This ETF gives investors access to companies with exposure to the electrification and decarbonisation trend.

Among the companies that you’ll be investing in are those involved in battery technology, electric vehicles, and lithium mining. This includes BYD, Mineral Resources Limited (ASX: MIN), Pilbara Minerals Ltd (ASX: PLS), Nissan, and Renault.

Jessica Amir from Saxo Markets is a fan of the ETF. She recently said:

If [lithium] stock picking is not for you, and if you believe, like we do, that the electric vehicle industry and the critical minerals/ commodities will continue to see rising demand, and policy support, and also benefit from the world striving to be carbon neutral by 2050, then you could invest or trade in Global X Lithium & Battery Tech ETF (LIT) or ETFS Battery Tech & Lithium ETF (ACDC) that invests in about 30 of the biggest EV and battery technology companies in the world.

ETFS S&P 500 High Yield Low Volatility ETF (ASX: ZYUS)

Another that could be worth a closer look is the ETFS S&P 500 High Yield Low Volatility ETF.

This ETF gives investors exposure to some of the highest yielding and low volatility stocks on the US stock market. It also has strict diversification and tradability requirements to ensure investors aren’t loading up on one particular sector.

Among the companies that you will be investing in include IBM, Kinder Morgan, Kraft Heinz, Philip Morris, and Verizon.

One analyst that is positive on the ETF is Felicity Thomas from Shaw and Partners. Thomas recently told Livewire that it was a top pick for her. She said:

I really like ETF Securities High Yield Low Volatility ETF. Essentially, I really like their methodology. They look at the top 75 high-quality businesses and they only take 10 high-yielding companies per sector, and they remove the 25 most volatile. It’s got names like Kraft, IBM, and Verizon and also pays a quality distribution. And I think everyone’s looking for defensive yield at the moment.

The post Here are 2 high quality ETFs named as buys by analysts appeared first on The Motley Fool Australia.

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More reading

• Why analysts say these top ETFs are buys

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 Australian share market is home to a large number of high quality companies with strong long term growth potential.

In order to narrow things down, I’ve picked out two ASX shares that are highly rated by experts. Here’s what you need to know about these ASX shares:

IDP Education Ltd (ASX: IEL)

The first ASX share to look at is IDP Education. It is a provider of international student placement and English language testing services.

After a couple of tough years because of the pandemic, business is booming again for IDP. It delivered very strong profit growth during the first half of FY 2022 and more of the same is expected for the full year.

But its growth isn’t expected to stop there. The team at Goldman Sachs “see a compelling long-term growth opportunity with a number of drivers.” These include structural growth in multi-destination student placement markets, its strong digital capabilities, and potential bolt-on acquisitions.

In light of its positive view, Goldman Sachs has put a buy rating and $35.50 price target on its shares.

WiseTech Global Ltd (ASX: WTC)

Another ASX share for investors to consider is this logistics solutions technology company.

WiseTech is the company behind the popular CargoWise One solution. This platform allows users to execute complex logistics transactions and manage freight operations from a single, easy to use platform.

Demand has been growing strongly over the last decade, underpinning stellar sales and profit growth. Pleasingly, this trend has continued in FY 2022 with the company recently upgrading its full year guidance.

The team at Ord Minnett appear confident there’s still plenty more to come from the company. Its analysts recently put a buy rating and $50.50 price target on its shares.

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

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More reading

• How are ASX 200 tech shares performing on Wednesday?
• Why are ASX 200 tech shares having such a lousy start to the week?
• Experts name 2 beaten down ASX growth shares with plenty of upside potential
• Here are the top 10 ASX shares today
• Why Allegiance Coal, Hub24, Suncorp, and WiseTech shares are dropping

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 and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 Hipages Group Holdings Ltd (ASX: HPG) share price soared today amid the company’s revenue leaping in the fourth quarter of FY22.

The Hipages share price surged 13.6% to finish the session at $1.295. For perspective, the S&P/ASX 200 Communication Services Index (ASX: XTJ) jumped 0.61% today.

So what did Hipages report today?

Hipages share price lifts amid 9% revenue boost

It was onwards and upwards for the Hipages share price today following the release of the company’s Q4 FY22 activities report. Highlights included:

• Total revenue leapt 9% on the prior corresponding period (pcp) to $15.8 million
• Average annual revenue per unit (ARPU) surged 10% to $1,806
• Hipages Australia ARPU soared 16% to $1,904
• Subscription tradies leapt 11% on the pcp to 34,600
• $13.2 million cash and funds on deposit, no debt

What else did Hipages report?

Hipages is an online tradie marketplace and software-as-a-service (SaaS) provider that connects homeowners and companies with tradies.

Tradie registrations are rising and job numbers and churn are normalising following the COVID-19 pandemic, according to Hipages.

The company delivered free cash flow of $0.3 million in the fourth quarter, compared to an outflow of $2.5 million in the previous quarter.

Hipages highlighted its efficient business model is underpinning favourable free cash flow and balance sheet strength.

Management commentary

Commenting on the results that boosted the Hipages share price today, CEO and co-founder Roby Sharon-Zipser said:

For Hipages Group to continue to grow in such a challenging environment, while generating positive free cash flow and closely managing our expenses, highlights the power and resilience of our business model.

We will continue to invest in our products and technology and develop new expansionary services to enhance the customer experience and expand our addressable market.

Looking ahead

Hipages is expecting rising inflation and interest rates to bring “balance to marketplace”. With this in mind, Hipages predicts tradies will be more reliant on the company’s platform to source jobs.

On 25 August, Hipages will release its FY22 full-year results and update the market further on its outlook for FY23.

Hipages share price snapshot

The Hipages share price has dived 59% in the past year and more than 66% year to date.

However, in the past month, the company’s share price has lifted almost 28%.

Hipages has a market capitalisation of about $169 million based on the current share price.

The post ‘Power and resilience’: Hipages share price leaps 14% on revenue boost appeared first on The Motley Fool Australia.

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More reading

• Analysts name 3 exciting small cap ASX shares with major upside potential
• Analysts say these small cap ASX shares have huge potential

Motley Fool contributor Monica O’Shea 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 Hipages Group Holdings Ltd. The Motley Fool Australia has positions in and has recommended Hipages Group Holdings Ltd. 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 market landscape has shifted unanimously to a more risk-off environment in FY22. Indeed, the macro-thematic now includes inflation, central bank tightening and prospects of a recession.

The distribution of possible outcomes for the global economy is even wider. Alas, managers running client money reckon it’s time to add resiliency into portfolios for H1 FY23.

One way to diversify within singular asset classes like the equities, such as in the S&P/ASX 200 Index (ASX: XJO), is to concentrate on various sectors that are sensitive or not to the business cycle.

‘Defensives’ as they are known, often provide a layer of resiliency and downside protection in choppy markets, especially on a forward looking basis.

ASX 200 Healthcare shares to dominate

The healthcare sector will retain its position on the mantlepiece as the top performing sector in FY23, according to Tribeca Investment Partners portfolio manger Jun Bei Liu.

Liu said this posture stems from 3 factors, “stabilising interest rate expectation, the opportunity for outsized near term growth and its structural growth prospects,” according to Livewire.

COVID-19 was also a major anomaly for the defensive sector, causing a huge backlog and pent-up demand.

“Many healthcare companies will see a significant return to growth from the next half,” Liu added.

“[B]ut it could take as long as 18 months to two years to clear the enormous backlog that has been built up over the past two years.“

Moreover, with the prospect of economic downturn threatening consumer spending and aggregate demand, healthcare companies are largely agnostic to these challenges.

In fact, healthcare is considered a defensive sector that is largely insensitive to the business cycle.

It therefore comes as little surprise to see Liu advocate for the sector in the forward looking regime.

The sector has already caught a bid in FY23, with the S&P/ASX 200 Health Care Index (ASX: XHJ) climbing nearly 6% higher over the past month. This contrasts with the benchmark S&P/ASX 200 Index (ASX: XJO)’s return of 2.6%.

It has now clawed back losses incurred this year to date, as seen below.

The post Fundie reveals best ASX 200 sector to ‘generate defensive growth and help future proof portfolios’ appeared first on The Motley Fool Australia.

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More reading

• Pilbara Minerals share price lifts amid 50% quarterly production boost
• Here are the top 10 ASX 200 shares today
• Here are the 3 most traded ASX 200 shares on Thursday
• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• Sandfire share price rallies as miner beats production guidance

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 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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It was a pleasing day for the S&P/ASX 200 Index (ASX: XJO) on Thursday. The ASX 200 closed at 6,889.7 points, up a healthy 0.97% for the day. But it was an even better day for the Pilbara Minerals Ltd (ASX: PLS) share price.

ASX lithium stock Pilbara ended up finishing this Thursday’s trading at $2.73 a share, up a robust 6.23%. That came after this lithium flagship closed at $2.57 a share yesterday and opened at $2.63 this morning.

What was interesting about Pilbara’s day was the release of the company’s June quarterly activities report. The report, covering the three months to 30 June 2022, was released at 2.56 pm. So it’s fair to say that it didn’t have much of an impact on Pilbara’s stellar day.

It may have been responsible for ticking the company’s share price up from $2.70 to $2.73 (which occurred after the release of the report). But Pilbara had clearly banked much of its daily gains before this time, so go figure.

What did Pilbara Minerals report today?

Even so, it was objectively a pleasing report for the company. Pilbara reported that it had produced 127,236 dry metric tonnes of lithium spodumene concentrate over the June quarter.

That was a substantial 56% increase from the 81,431 tonnes the company reported for the preceding quarter covering the three months to 31 March 2022.

This production included the first concentrate from the company’s Ngungaju Plant.

This has enabled Pilbara to book a total of 377,902 dry metric tonnes of spodumene concentrate for the full 2022 financial year. That was again a 35% increase over the 58,383 tonnes the company recorded for FY 2021.

Spodumene shipments also rose over the quarter, increasing 127% from the 58,383 tonnes for the March quarter to the 132,424 tonnes recorded for the quarter ending 30 June.

Pilbara recorded an average sales price of US$4,267 per dry metric tonne over the June quarter, another rise over the previous quarter, in which Pilbara was only able to achieve an average of US$2,650 per tonne.

In terms of outlook, Pilbara had this to say:

Market demand for battery raw materials remained strong, with Chinese lithium prices stabilising close to all-time highs…

During the June Quarter 2022… Pilbara Minerals… continued to progress work programs and activities to increase spodumene concentrate production at the Pilgangoora Project, in response to surging global demand for lithium raw materials…

So we can’t say that this report was behind the stellar performance of the Pilbara Minerals share price this Thursday. But it certainly didn’t hurt.

At the last Pilbara share price, this ASX 200 lithium stock had a market capitalisation of $7.65 billion.

The post Pilbara Minerals share price lifts amid 50% quarterly production boost appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are the 3 most traded ASX 200 shares on Thursday
• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• Sandfire share price rallies as miner beats production guidance
• ASX 200 shares marching higher on successive US Fed interest rate hike

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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The Rio Tinto Limited (ASX: RIO) share price underperformed on Thursday after investors gave the miner’s half-year results a lukewarm response.

And while the mining giant’s shares finished the day 0.75% higher at $97.70, its peers recorded much stronger gains.

For example, the S&P/ASX 200 Resources index charged 2.35% higher during the session.

Is the Rio Tinto share price still a buy?

According to a note out of Goldman Sachs, its analysts have retained their buy rating with a slightly trimmed price target of $122.90.

Based on the current Rio Tinto share price, this implies potential upside of almost 26% for investors over the next 12 months.

What did the broker say?

Goldman acknowledges that Rio Tinto disappointed on a number of items such as consensus EBITDA and dividend estimates during the first half.

Commenting on the dividend, the broker said:

The interim dividend of US$2.67/sh was lower than expected (50% payout vs. GSe 75% payout) with RIO painting a cautious outlook for global commodity demand, although the company believes China can introduce more easing measures in 2H.

Nevertheless, its analysts have seen enough to remain bullish. Particularly given its very attractive valuation.

Despite a weakening near term outlook for iron ore and base metals in 2H22, and concerns over future growth (Pilbara heritage and replacement mines, Simandou, Oyu Tolgoi, Resolution) and uncertainty over decarbonisation capex, we rate RIO a Buy.

This buy rating is based partly on its “compelling valuation.” Goldman highlights:

Trading at c. 0.75x NAV (A$126.4/sh), c. 4.0x 2023E EBITDA at GSe base case, c. 4.2x at spot. Pricing in flat Fe of ~US$55/t (NAV = share price) or US$60-65/t at spot commodities to achieve the 25yr EV/EBITDA average of ~6.5x over the next few years.

The broker also highlights that the current Rio Tinto share price suggests potential for big dividends in the near term. It is forecasting a “FCF/dividend yield in 2022E (c. 10%/8% yield) & 2023E (c. 11%/8% yield).”

The post Broker tips 26% upside for Rio Tinto share price post-results appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• Did the Rio Tinto interim dividend really just tumble 52%?
• Why is the Rio Tinto share price underperforming today?
• 5 things to watch on the ASX 200 on Thursday
• Rio Tinto share price on watch after half-year earnings miss

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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It was a day of celebration for ASX online retail shares, with some of them seeing share price gains that have delivered big outperformance.

Let’s have a look at the state of play for some of the leading names.

The Kogan.com Ltd (ASX: KGN) share price soared 50.16%.

The Redbubble Ltd (ASX: RBL) share price ended 22.75% higher.

The Cettire Ltd (ASX: CTT) share price jumped 23.36%.

The Temple & Webster Group Ltd (ASX: TPW) finished up 13.50%.

Despite these large gains, they are still heavily in the red for 2022, but things could be looking up for them individually and as a sector. Company quarterly updates have been flowing thick and fast today.

Why could things be better than expected?

Normally there’s a reason for such exuberance in a particular sector.

While only today’s buyers of each of these shares can truly say why they were happy to pay a much higher price today than yesterday, there could be a few different reasons.

For starters, Kogan’s update for FY22 may have included some promising signs for the sector. Sometimes investors like to take positive signs from an update from one business and then think that it’s applicable to other businesses.

Kogan showed that in FY22, gross sales increased by 0.1% compared to FY21. The e-commerce business noted that it had returned to positive quarterly adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) after a “successful ongoing recalibration of operating costs.”

Inflation picks up

For the three months to 30 June 2022, the Australian Bureau of Statistics (ABS) reported that consumer price index (CPI) inflation rose by 1.8%.

Over the 12 months to June 2022, CPI inflation increased to 6.1%.

The ABS noted that the most significant price rises were new dwelling purchases by owner occupiers (up 5.6%), automotive fuel (up 4.2%) and furniture (up 7%).

Looking at the broader furnishings, household equipment and services segment, annual inflation was 6.3%. Food and non-alcoholic beverages saw inflation of 5.9%.

The ABS stated that goods accounted for 79% of the rise in the CPI in the latest quarter, reflecting “high freight costs, supply constraints and prolonged strong demand.”

Online retailers could benefit from the inflation environment

There are a couple of factors that could mean online retailers are able to deal with the current situation better than their bricks and mortar peers.

One example is that ASX online retail shares may not have the same exposure to the increase in costs. For example, online retailers don’t have store networks. Stores come with costs like wages, electricity and rent. Employee costs and electricity costs are rising. Online retailers don’t have the sales staff to pay more wages to.

Another possibility is the fact that online retail businesses collectively may be able to attract customers looking for the cheapest prices amid the inflation damage to household budgets. Discounted online sales could be particularly attractive during this period.

The founder of Kogan, Ruslan Kogan, made comments today that highlighted the potential changing customer behaviour:

Times are changing. In uncertain times, people don’t want to alter their lifestyle but they are happy to shift the way they shop. We know that in an environment where great value becomes even more important, Kogan.com serves an important need.

What’s next?

There isn’t a crystal ball to say what happens next with inflation.

But, August will reveal a lot of results and trading updates to tell investors how things are going. Outlook statements and guidance could be particularly interesting.

The post Could ASX online retail shares be getting a boost out of inflation? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 300 retail shares majorly cashing in on Thursday
• Why is the Temple & Webster share price flaming 16% higher?
• Why is the Kogan share price rocketing 32% higher today?
• Take a seat: What inflation data might mean for ASX retail shares
• These are the 10 most shorted ASX shares

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 positions in and has recommended Cettire Limited, Kogan.com ltd, REDBUBBLE FPO, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Cettire Limited and Temple & Webster Group Ltd. 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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Materials shares led the S&P/ASX 200 Index (ASX: XJO) on Thursday, driving it to its highest point in nearly seven weeks. The index was up 0.97% to 6,889.70 at the market’s close.

The S&P/ASX 200 Materials Index (ASX: XMJ) jumped 2.43% today amid slight increases in major metals. Iron ore futures lifted 0.1% to US$106.47 a tonne, while gold futures also rose 0.1% to US$1,719.10 an ounce.

Most energy shares also posted a strong performance, helped along by rising oil prices. The Brent crude oil price lifted 2.1% to US$106.62 a barrel, while the US Nymex crude price gained 2.4% to trade at US$97.26 per barrel.

Meanwhile, the S&P/ASX 200 Information Technology Index (ASX: XIJ) rose 0.71% following a strong session on Wall Street overnight.

But not all ASX shares were invited to today’s party. The S&P/ASX 200 Utilities Index (ASX: XUJ) slumped 1.81%.

As of the market’s close, nine of the ASX 200’s 11 sectors were trading higher.

So, which shares posted the largest gains on Thursday? Let’s take a look.

Top 10 ASX 200 shares countdown

A last-minute race to the finish saw the Zip Co Ltd (ASX: ZIP) share price besting the rest for a third consecutive session today. Find out what the BNPL favourite has been up to lately here.

Today’s biggest gains were made by these ASX 200 shares:

ASX-listed company	Share price	Price change
Zip Co Ltd (ASX: ZIP)	$1.52	22.58%
Pointsbet Holdings Ltd (ASX: PBH)	$3.57	20.61%
Novonix Ltd (ASX: NVX)	$2.76	13.58%
St Barbara Ltd (ASX: SBM)	$1.025	10.22%
Megaport Ltd (ASX: MP1)	$9.32	9.26%
Mineral Resources Limited (ASX: MIN)	$53.21	9.04%
Gold Road Resources Ltd (ASX: GOR)	$1.34	8.5%
Chalice Mining Ltd (ASX: CHN)	$4.73	8.24%
OZ Minerals Ltd (ASX: OZL)	$18.45	7.08%
IGO Ltd (ASX: IGO)	$10.68	7.01%

Our top 10 ASX 200 shares 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 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Thursday
• Why did the Novonix share price just soar 13%?
• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• Zip share price rockets again and is now up 225% in four weeks
• Sandfire share price rallies as miner beats production guidance

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 MEGAPORT FPO, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia has recommended MEGAPORT FPO and Pointsbet Holdings Ltd. 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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