The S&P/ASX 200 Index (ASX: XJO) soared to its highest point in nine months on Thursday, peaking at 7439.7 points before slipping slightly to close 0.57% higher at 7,435.3 points.

That was despite a poor session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.8% on Wednesday overseas, while the S&P 500 Index (SP: .INX) dropped 1.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slipped 1.2%.

Back home, mining shares led the market higher, with the S&P/ASX 200 Materials Index (ASX: XMJ) rising 1%, driven by iron ore giants and lithium favourites.

The S&P/ASX 200 Health Care Index (ASX: XHJ) also outperformed, gaining 0.9%.

Meanwhile, an 4.7% gain from Viva Energy Group Ltd (ASX: VEA) wasn’t enough to stop the S&P/ASX 200 Energy Index (ASX: XEJ) from falling 0.7% alongside oil prices. The black liquid’s value slipped around 1% overnight.

So, with all that covered, let’s take a look at the 10 shares outperforming all others on Thursday.

Top 10 ASX 200 shares countdown

Shares in Nanosonics Ltd (ASX: NAN) posted the ASX 200’s biggest gain today, soaring 8% to close at $5.12.

The company dropped exciting earnings for the first half of financial year 2023 this morning, detailing a 35% jump in revenue and a 39% lift in profits.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Nanosonics Ltd (ASX: NAN)	$5.12	8.02%
Viva Energy Group Ltd (ASX: VEA)	$2.87	4.74%
Suncorp Group Ltd (ASX: SUN)	$12.36	3.69%
Rio Tinto Limited (ASX: RIO)	$125.96	3.25%
Imugene Limited (ASX: IMU)	$0.16	3.23%
Allkem Ltd (ASX: AKE)	$12.61	2.94%
Iluka Resources Limited (ASX: ILU)	$10.69	2.69%
Resmed Inc (ASX: RMD)	$33.38	2.11%
Sandfire Resources Ltd (ASX: SFR)	$6.35	2.09%
TPG Telecom Ltd (ASX: TPG)	$4.98	2.05%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes 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

• Brokers say this ASX 200 lithium share can generate big returns
• The Suncorp share price is on fire today. Should you buy?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• Nanosonics share price leaps 9% on booming earnings in the first half

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 Nanosonics and ResMed. The Motley Fool Australia has positions in and has recommended Nanosonics and ResMed. The Motley Fool Australia has recommended Tpg Telecom. 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 a fan of both National Australia Bank Ltd (ASX: NAB) shares and cryptocurrency? If so, I have great news for you.

The S&P/ASX 200 Index (ASX: XJO) big four bank has created a brand new stablecoin, dubbed the AUDN.

Let’s take a closer look at the high-tech currency born from the 41-year-old financial institution.

The NAB share price was trading at $31.77 at the market close, 0.30% higher than its previous close. For comparison, the ASX 200 lifted 0.57% at the close of trade.

NAB reveals AUD-linked cryptocurrency

If you own NAB shares, congratulations may be in order. The bank has revealed a stablecoin – a form of cryptocurrency tied to a fiat currency. In this case, NAB’s AUDN is tied to the Aussie dollar.

The bank created AUDN on the Ethereum blockchain in December. It will soon begin testing its use with internal transactions before expanding to other use cases, for which it will work closely with its corporate clients.

NAB executive of innovation and partnerships Howard Silby commented on the stablecoin’s creation, saying:

We believe that elements of the future of finance will be blockchain enabled because it has the potential to help deliver instantaneous, transparent, and inclusive financial outcomes for customers as our economy becomes increasingly digitised.

As a trusted financial institution we have an important role to play in advancing the maturity of the blockchain enabled sector.

Silby said the bank aimed to use AUDN in cases with “high friction and clear customer benefit”. It imagines AUDN could be used to send money internationally or trade in carbon credits, for instance.

In particular, its attention will be drawn to the benefits of the coin in the corporate and institutional banking sector.

Interestingly, NAB isn’t the first of the big four banks to create an Aussie dollar-linked stablecoin. It was beaten to the punch by ANZ Group Holdings Ltd (ASX: ANZ) last year.

The smallest of the lot created and transacted with its A$DC in March 2022.  

NAB share price snapshot

The NAB share price has been outperforming the broader ASX 200 recently.

The stock has gained 7.9% year to date. Meanwhile, the index has lifted 7%.

Looking further back, the NAB share price has risen 9% over the last 12 months, while the ASX 200 has improved just over 1%.

The post Own NAB shares? Now you also own crypto appeared first on The Motley Fool Australia.

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More reading

• Are NAB shares a good investment ahead of earnings season?
• Up 20% in 6 months, is the Westpac share price now fully valued?
• 3 ASX 200 shares I own for big dividends in 2023
• Which ASX 200 bank shares are the ones to buy in 2023?
• 3 reasons to buy NAB shares right now: Goldman Sachs

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 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 Allkem Ltd (ASX: AKE) share price was on form on Thursday.

The lithium miner’s shares ended the day 3% higher at $12.61.

Why did this ASX 200 lithium share shoot higher?

Investors were buying Allkem’s shares today after brokers responded positively to the company’s latest quarterly update.

For example, according to a note out of Goldman Sachs, its analysts have reiterated their buy rating and lifted their price target on the company’s shares to $15.50.

Goldman notes that the Olaroz operation performed ahead of expectations, offsetting a softer performance from the Mt Cattlin operation. It commented:

AKE reported record lithium carbonate production at Olaroz of 4.3kt in 2Q, up 29% QoQ and 16%/19% ahead of GSe/consensus, with operational improvements expected to continue into the 2H and third party pricing of US$53,013/t and to remain flat into 3Q. Spodumene production at Mt. Cattlin was below GSe/consensus on ore availability/grade, though mining progression into 2H supports unchanged FY23 production/cost guidance, while realised pricing of US$5,284/t CIF (~US$6,000/t FOB on a SC6 equivalent basis) is expected to improve a further 5% in the Mar-23 quarter.

Over at Bell Potter, its analysts were pleased with the update. In response, the broker retained its buy rating with a slightly trimmed price target of $19.36.

Once again, it was pleased with the performance of the Olaroz operation, which smashed its estimates. It also highlights that Allkem’s costs were lower than it was expecting. It said:

December 2022 quarter lithium carbonate production of 4.3kt (BP est. 3.3kt) and sales of 3.1kt (BP est. 3.3kt). Unit costs were US$4,682/t (BP est. US$5,260/t) and average realised third party prices of US$53,013/t or when including internal technical grade sales to Naraha, US$46,706/t (BP est. $46,900/t).

Big returns ahead

Based on where this ASX 200 lithium share is trading right now, the Allkem share price could generate strong returns for investors this year.

Goldman Sachs’ price target of $15.50 implies potential upside of 23%. Whereas Bell Potter’s price target of $19.36 suggests even greater upside of approximately 54%.

Goldman explained why it is bullish. It concludes:

With optionality across the Americas and Australia on the largest lithium resource in our coverage growing equity LCE production >4x by FY27E, and at a discount to peers at 0.8x NAV (peer average ~1.1x), Allkem is our preferred lithium exposure. We maintain a Buy rating on an increased 12-month PT of A$15.5/sh.

The post Brokers say this ASX 200 lithium share can generate big returns appeared first on The Motley Fool Australia.

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More reading

• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• 5 things to watch on the ASX 200 on Thursday
• Guess which ASX 200 lithium share just capped off a record quarter
• Why are ASX 200 lithium shares struggling on Monday?
• 2 ASX 200 mining shares to buy as China reopens: analysts

Motley Fool contributor James Mickleboro has positions in Allkem. 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 Suncorp Group Ltd (ASX: SUN) share price is on a roll today, up 3.5% in late afternoon trading to $12.34 per share.

In fact, the Suncorp share price is today’s third-best performer among the S&P/ASX 200 Index (ASX: XJO).

It’s been a good day for ASX bank shares, with the big four and Macquarie Group Ltd (ASX: MQG) all in the green. This may be related to today’s weaker-than-expected jobs report, which could signal the economy is slowing in response to the Reserve Bank’s rapid 3% increase in the cash rate last year.

This could mean interest rates may not rise as high as previously thought — and the share market is liking that prospect. The ASX 200 is up 0.6% presently to 7,438 points.

What’s the latest with the Suncorp share price?

As my Fool colleague Brooke recently reported, the Suncorp share price outperformed most other ASX 200 bank shares in 2022.

The stock rose from $11.07 to $12.04 – or 8.8% – over the year. That compares to a 5.5% fall in the ASX 200 and an almost 3% fall in the S&P/ASX 200 Financials Index (ASX: XFJ).

Of course, soon enough Suncorp will no longer be a bank share given it is in the process of selling its banking division to ANZ Group Holdings Ltd (ASX: ANZ).

Earnings season is upon us once again, and Suncorp will release its half-year results on 8 February. The ex-dividend date will be 14 February and the payment date will be 31 March.

As reported in the Australian Financial Review today, Morgan Stanley has upgraded its rating on Suncorp to overweight. The broker has a 12-month share price target of $14.50 on the insurance giant.

At today’s share price, a few brokers see a lot of value in Suncorp for dividends this year.

IML portfolio manager Michael O’Neill projects a forward 6.8% dividend yield for Suncorp in FY24. He says the stock is currently trading on a 12.1 times price-to-earnings (P/E) ratio.

At the end of 2022, Morgans had an add rating on Suncorp shares with a $13.98 price target. The broker foresees an 80-cent dividend from Suncorp in FY24 — a yield of 6.5% on today’s share price.

Suncorp share price snapshot

The Suncorp share price reached an intraday high of $12.42 earlier today.

The stock is up by 5.65% over the past 12 months compared to a 1.4% increase in the ASX 200.

It’s had a great start to 2023, up 4.4% since 3 January.

The post The Suncorp share price is on fire today. Should you buy? appeared first on The Motley Fool Australia.

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More reading

• 4 best ASX dividend shares to buy right now: expert
• Why ASX dividend shares are so ‘critical’ right now: fundie
• When it comes to ASX 200 dividend shares, is boring better?
• How to minimise risk using ASX 300 dividend shares: fundie
• The 3 ASX 200 bank shares that outperformed all others in 2022

Motley Fool contributor Bronwyn Allen has positions in Anz Group and Macquarie Group. 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. 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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