Day: 8 May 2023

With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

ANZ Group Holdings Ltd (ASX: ANZ)

According to a note out of Citi, its analysts have retained their buy rating on this banking giant’s shares with a trimmed price target of $26.50. Citi notes that ANZ delivered a result in line with expectations. And while the broker has lowered its margin assumptions, it sees ANZ’s unique capabilities as set to deliver relative outperformance in the current market conditions. The ANZ share price is trading at $23.83 on Monday.

Iluka Resources Limited (ASX: ILU)

A note out of Macquarie reveals that its analysts have upgraded this mineral sands producer’s shares to an outperform rating with a $12.30 price target. The broker was pleased with Iluka’s recent production update and sees value in its shares at current levels. The Iluka share price was fetching $11.54 today.

Life360 Inc (ASX: 360)

Analysts at Bell Potter have retained their buy rating and $8.75 price target on this location technology company’s shares. Bell Potter is feeling very positive ahead of Life360’s first-quarter results. In fact, the broker suspects that the company could be performing so well that it surprises the market by revealing that it achieved positive cash flow in April. The Life360 share price is trading at $5.46 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today  
• If you invest $10,000 in ANZ shares here’s how much passive income you’ll earn
• 5 things to watch on the ASX 200 on Monday
• Is it time to buy ANZ shares after its strong results?
• Why ANZ, Block, Pilbara Minerals, and SSR Mining shares are storming higher

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. 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 S&P/ASX 200 Index (ASX: XJO) started the week with a strong session, rising 0.78% to close at 7,276.5 points.

Its day in the green was driven by the S&P/ASX 200 Energy Index (ASX: XJO) The sector lifted 2.5% after oil prices closed last week with a bang.

US Nymex crude oil rose 4.1% to US$71.34 a barrel in Friday’s session overseas while Brent oil gained 3.9% to US$75.30 a barrel.

Mining stocks also outperformed, with the S&P/ASX 200 Materials Index (ASX: XMJ) gaining 1.6% in a brilliant session for lithium stocks.

But not every sector glittered on Monday. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) posted the biggest loss, dropping 0.9%.

So, with all that in mind, let’s dive into Monday’s best-performing ASX 200 shares.

Top 10 ASX 200 shares countdown

Taking out the top spot on the index today was the Lynas Rare Earths Ltd (ASX: LYC) share price.

It roared 12% higher after the company announced its ban on importing and processing lanthanide concentrate in Malaysia has been pushed back to early next year. That means it won’t have to shut down its Malaysian facility.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Lynas Rare Earths Ltd (ASX: LYC)	$7.37	12.01%
Life360 Inc (ASX: 360)	$5.46	7.69%
Core Lithium Ltd (ASX: CXO)	$1.03	6.74%
Iluka Resources Limited (ASX: ILU)	$11.54	5.1%
Pilbara Minerals Ltd (ASX: PLS)	$4.60	4.55%
Lake Resources NL (ASX: LKE)	$0.52	4%
Whitehaven Coal Ltd (ASX: WHC)	$7.06	3.82 %
ARB Corporation Ltd (ASX: ARB)	$32.59	3.79%
Megaport Ltd (ASX: MP1)	$5.52	3.76%
Champion Iron Ltd (ASX: CIA)	$6.55	3.64%

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

• Here are the 3 most heavily traded ASX 200 shares on Monday
• What’s the outlook for the Core Lithium share price in May?
• Why Lynas, Piedmont Lithium, Westpac, and Woodside shares are rising
• ASX lithium shares are off and racing today. What’s behind the boost?
• Why is ASX 200 share Lynas Rare Earths leaping 12% on Monday?

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 ARB Corporation, Life360, and Megaport. The Motley Fool Australia has recommended ARB Corporation and Megaport. 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 rise of Amazon.com Inc (NASDAQ: AMZN) here in Australia has been spooking ASX retail shares and their investors for more than five years now. Ever since Amazon first launched its local marketplace here in Australia back in 2017, investors have been warned of the bleak future awaiting ASX retail shares.

Almost six years on, it’s clear that Amazon’s local shopfront, while still wildly successful, hasn’t exactly ended the Aussie retail sector.

But, as is always the case for ASX retail shares, there is still no time for laurel resting. The retail space is infamous for its cutthroat competitive pressures. Its players are also constantly at the mercy of changing trends and tastes.

And, if one ASX expert is to be believed, Amazon isn’t done trying to take its pound of flesh either.

Amazon is coming for Australia’s shoppers

According to a report in The Australian this week, analysts at Jarden have recently come out with some analysis of the future of Australia’s retail space. In fact, Jarden’s analysis concludes that Amazon is on track to grow its gross merchant value (GMV) in Australia by 25% in 2023 to $5 billion, followed by another 10% rise in 2024 to $5.5 billion. And that’s its ‘conservateive’ scenario.

According to Jarden, this expansion will be driven by “expansion of same-day delivery, rapid penetration of Prime and range expansion to more than 200 million stock keeping units (SKUs) with a focus on consumer value”. Amazon is reportedly targeting a long-term GMV of between $19 and 22 billion for the Australian market.

So if this all plays out as Jarden is expecting, it will obviously have an impact on many ASX retail shares.

Jarden has identified a long list of ASX retail shares that could be the most impacted. These include:

• JB Hi-Fi Limited (ASX: JBH)
• Super Retail Group Ltd (ASX: SUL)
• Wesfarmers Ltd (ASX: WES)
• Accent Group Ltd (ASX: AX1)
• Reject Shop Ltd (ASX: TRS)
• Baby Bunting Group Ltd (ASX: BBN)
• Kogan.com Ltd (ASX: KGN)
• Temple & Webster Group Ltd (ASX: TPW)
• Adore Beauty Group Ltd (ASX: ABY)

Should investors bail out of ASX retail shares before it’s too late?

So with these ‘victims’ of the Amazon juggernaut identified, should investors just bail out now, before they are wiped out?

Well, not so fast. For one, as we mentioned earlier, reports of the death of ASX retail shares thanks to Amazon have been premature for the decade in which the American behemoth has been active in Australia. In fact, many have thrived alongside Amazon.

Just take a look at the JB Hi-Fi share price (one of Amazon’s fiercest competitors) below if you have any doubts:

Many of the shares listed above have also performed similarly, and seem to know how to keep Amazon at bay. The US giant doesn’t have a monopoly on innovation, after all.

But it’s also worth noting that Jarden’s opinions aren’t the only ones out there. Many other ASX experts view the situation facing ASX retail stores very differently. For instance, Goldman Sachs recently came out with a buy rating on Super Retail Group shares, together with a $14.90 share price target. Goldman noted Super Retail’s “resilience” and “competitive advantage of high loyalty” in justifying its confidence.

Similarly, Goldman also has high hopes for Accent Group. It also has a buy rating on this ASX footwear retail share, justifying its rating by pointing to this company’s popularity with younger shoppers.

And last month, we looked at the views of another ASX expert in broker Morgans. Morgans reckons both Adore Beauty and Baby Bunting shares are undervalued right now.

So yes, Amazon remains a potent threat to many ASX retail shares. But views are certainly not aligned on the ASX when it comes to their resilience to the American invader.

 

The post Which ASX retail shares could be ‘most impacted’ by Amazon’s rapid growth? appeared first on The Motley Fool Australia.

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More reading

• This ASX All Ords stock could pay an 11% dividend yield by FY25
• Here are the 10 most shorted ASX shares
• Follow the free cash flow: Could these unloved ASX shares be worth buying?
• Brokers name 3 ASX shares to buy now
• Buy Pilbara Minerals and these ASX growth shares for 40%+ returns: analysts

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Amazon.com and Kogan.com. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon.com, Baby Bunting Group, Goldman Sachs Group, Kogan.com, Super Retail Group, and Temple & Webster Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group. The Motley Fool Australia has positions in and has recommended Kogan.com, Super Retail Group, and Wesfarmers. The Motley Fool Australia has recommended Accent Group, Adore Beauty Group, Amazon.com, Baby Bunting Group, Jb Hi-Fi, and Temple & Webster 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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Exchange traded funds (ETFs) can be great additions to an investment portfolio.

This is because they give investors easy access to a large and diverse number of different shares that they wouldn’t ordinarily have access to.

But which ones would be top options for investors today? Listed below are three that could be worth considering:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF to look at is the BetaShares Asia Technology Tigers ETF. It tracks the performance of the 50 largest technology companies that have their main area of business in Asia (excluding Japan). This includes the likes of Alibaba, JD.com, Pinduoduo, Samsung, Taiwan Semiconductor, and Tencent Holdings. As these companies are revolutionising the lives of billions of people in the region, they have been tipped to have bright futures.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

The next ETF for investors to consider is, in many respects, the US equivalent of the above ETF. The hugely popular BetaShares NASDAQ 100 ETF gives investors exposure to many of the most iconic companies in the world. This includes tech giants such as Amazon, Apple, Facebook, Microsoft, Netflix, and Tesla. BetaShares notes that with its strong focus on technology, the ETF provides diversified exposure to a high-growth potential sector that is under-represented on the Australian share market.

iShares Global Consumer Staples ETF (ASX: IXI)

If you would rather add some defensive stocks to your portfolio, then the iShares Global Consumer Staples ETF could be for you. This ETF gives investors access to many of the world’s largest global consumer staples companies. This includes giants such as Coca-Cola, Nestle, PepsiCo, Procter & Gamble, Unilever, and Walmart. As these companies manufacture and/or sell products that are always in demand whatever is happening in the economy, they appear well-placed in the current economic environment.

The post 3 excellent ETFs for ASX investors to buy right now appeared first on The Motley Fool Australia.

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More reading

• Why I believe these 2 appealing ASX shares could turn $5,000 into $15,000
• I’m a dividend investor. Should I buy the Betashares Nasdaq 100 ETF (NDQ)?
• 3 fantastic ETFs for ASX investors to buy in May
• 3 top quality ETFs for ASX investors to buy and hold for 10 years
• 3 top ASX ETFs hitting new 52-week highs on Friday

Motley Fool contributor James Mickleboro has positions in BetaShares Nasdaq 100 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF and iShares International Equity ETFs – iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended Betashares Capital – Asia Technology Tigers 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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The Treasury Wine Estates Ltd (ASX: TWE) share price is down almost 2% in late afternoon trade on Monday.

Shares in the S&P/ASX 200 Index (ASX: XJO) global wine company closed last week trading for $13.68 each. They are currently swapping hands for $13.425 apiece.

That’s today’s price action for you.

Now, with the Treasury Wine share price still up 21% over the past year, we look at what could be another positive step for the wine company.

What positive steps is the company taking?

As The Australian Financial Review reports, Treasury Wine is ramping up its efforts to reduce costs in a restructure largely aimed at its budget wine offerings overseen by Treasury Premium Brands.

Wines selling for less than $15 are coming under the heaviest pressure as consumers feeling the pinch from stubbornly high inflation and ever-rising interest rates scale back.

The restructure will place more emphasis on the company’s luxury wine segment, potentially offering a boost to the Treasury Wine share price down the road.

Rumours are circulating that 200 jobs may be on the line, though the company has not commented on any exact potential redundancy figures.

Commenting on the strategy that’s intended to bolster the Treasury Wine share price, CEO Tim Ford said (as quoted by the AFR), “Like any business, we continually assess our structure and cost base to make sure we’re in the right position to continue to deliver on our strategy.”

Ford added:

We’re now at the halfway point of our five-year strategy and faced with changing consumer preferences and economic uncertainty in major markets, we’re reviewing the structure in our Treasury Premium Brands division, as well as some other parts of our business.

What else could impact the Treasury Wine share price?

ASX 200 investors are also keeping a close eye on any developments with the tariffs China imposed on Aussie wine exports in 2020.

Should the gradual thawing in relations between the Australian and Chinese governments lead to the removal of those tariffs, Treasury Wine would enjoy some healthy tailwinds.

Morgans counts among those with a bullish outlook for the wine company, saying it trades at a “material discount” to its peers.

The broker said Treasury Wine is well-positioned for “strong earnings growth … over the next few years”.

Morgans has a $15.05 price target on the stock. That’s 12% above the current Treasury Wine share price.

The post Could this be another positive step for the Treasury Wine share price? appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX 200 blue chip shares to buy
• Dalio says US and China ‘on brink of war’. Which ASX shares could be impacted?
• Top ASX shares to buy in May 2023
• Brokers say these ASX 200 blue chip shares are buys
• What could China trade talks mean for the Treasury Wine share price?

Motley Fool contributor Bernd Struben 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. 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 fairly positive start to the trading week for ASX shares so far during this Monday’s session. After a rocky week last week, the S&P/ASX 200 Index (ASX: XJO) is comfortably in the green at present, with a happy gain of 0.69%. That lifts the ASX 200 to around 7,270 points.

Let’s hope this optimism holds out for the rest of the week’s trading. But let’s now dive a little deeper into the rise by taking a look at the ASX 200 shares at the peak of the share market’s trading volume charts right now, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Monday

Lynas Rare Earths Ltd (ASX: LYC)

First up this Monday is the rare earths producer Lynas. This session has seen a solid 10.26 million Lynas shares bought and sold at this point of the day. This one isn’t too hard to figure out. The Lynas share price is having a cracking day today. Currently, the company is sitting on a gain of 12.31% at $7.39 a share.

This comes after Lynas revealed it will now be permitted to keep its Malaysian cracking and leaching plant open until 2024, an extension of six months. Investors have clearly given their tick of approval, with this rather massive gain easily explaining the high trading volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Next up we have an ASX 200 lithium share in Core Lithium. So far today, a significant 25.1 million Core shares have swapped owners on the ASX. It seems another big share price rise is to thank for this high volume. As we went through this morning, most ASX lithium shares are off to the races this Monday.

The trend seems to have been triggered by optimism that Chinese demand for lithium could be on a comeback. In Core Lithium’s case, the company is enjoying a meaningful 7.77% bounce to $1.04 a share.

Pilbara Minerals Ltd (ASX: PLS)

Finally today, let’s take a gander at another ASX 200 lithium share, Pilbara Minerals. An impressive 36.65 million PIlbara shares have changed hands as it currently stands.

It seems that similar factors are also at play with the Pilbara share price. In this case though, the company is ‘only’ enjoying a 5.23% boost to $4.63 a share. Even so, it’s this jump that can explain why so many shares are flying around today.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

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More reading

• What’s the outlook for the Core Lithium share price in May?
• Why Lynas, Piedmont Lithium, Westpac, and Woodside shares are rising
• ASX lithium shares are off and racing today. What’s behind the boost?
• Why is ASX 200 share Lynas Rare Earths leaping 12% on Monday?
• Which ASX 200 travel share has already taken off by 48% in 2023?

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 Flight Centre Travel Group Ltd (ASX: FLT) share price is taking off on Monday, starting the week off with a new major milestone.

The stock roared to a peak of $21.775 this afternoon, marking a 2% gain on its previous close. That’s the highest it’s been in over 18 months – and just 5% off its post-pandemic high.

So, what’s got under the wings of the S&P/ASX 200 Index (ASX: XJO) travel agency lately? Let’s take a look.

Flight Centre share price soars to 52-week high

The Flight Centre share price has been on its own journey lately, rising close to 51% since the start of 2023. It’s also now 140% higher than it was in March 2020.

The ASX 200 travel stock was among those hardest hit when Australia’s borders were slammed shut in an effort to subdue the virus that took the world by storm in 2020.

And it’s not just the company’s stock that’s been outperforming lately.

Flight Centre’s total transaction value (TTV) surpassed pre-pandemic levels in March, beating that of March 2019 by 6%, the company revealed last week.

Not to mention, its underlying cost margin is at a historic low, reflecting structural changes made at the height of the pandemic.

So, with such positive momentum, is it just a matter of time before the Flight Centre share price recovers to its pre-pandemic levels? Well, there might be more than meets the eye when it comes to the travel stock’s valuation in 2023.

Flight Centre shares are still trading 40% lower than they were prior to the pandemic. However, the company’s market capitalisation is near to where it was in late 2019, as the chart below shows:

That’s largely due to a $700 million capital raise undergone in 2020 in an effort to shore up its finances.

The raise nearly doubled the company’s outstanding share count, with securities priced at $7.20 apiece.

Thus, Flight Centre’s valuation already sits around its 2019 level – at $4.7 billion as of Friday’s close.

The post The Flight Centre share price just rocketed to a new 52-week high. Here’s why appeared first on The Motley Fool Australia.

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More reading

• Which ASX 200 travel share has already taken off by 48% in 2023?
• Here are the 10 most shorted ASX shares
• Why this broker just upgraded Flight Centre shares to a buy rating
• 4 ASX 200 shares just upgraded by brokers
• How did the Flight Centre share price manage to flog the ASX 200 in April?

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 recommended Flight Centre Travel 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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The Core Lithium Ltd (ASX: CXO) share price smashed the benchmark in April.

Shares in the S&P/ASX 200 Index (ASX: XJO) lithium stock gained an impressive 14% over the month, easily surpassing the 1.8% gains posted by the ASX 200 in April.

Of course, those gains have all been banked.

The pressing question now is, can the Core Lithium share price continue to outperform in May?

What can ASX 200 investors expect from Core Lithium in May?

As we kick off the second week of May, the Core Lithium share price is up 6.1% so far this month.

That’s being driven by a big surge today, with shares up 7.8% at the time of writing. This will be welcomed by shareholders but comes as rather sour news to the host of traders betting against the ASX 200 lithium stock.

Currently short interest in the stock stands at 9%.

And short sellers may get burned beyond today and throughout May as full-scale production at Core Lithium’s Finniss Lithium Project looks to be just around the corner.

Atop soon moving into producer territory, the Core Lithium share price could receive some helpful tailwinds from a potential rebound in the lithium price.

As you may know, the lithium carbonate price is down some 75% from the all-time highs reached in November 2022.

But in recent days a growing number of analysts are coming out of the woodwork to forecast a rebound in lithium prices in 2023.

Part of that is related to Chile’s plan to nationalise the nation’s lithium industry, which could put a crimp on supplies.

Daniel Hynes and Soni Kumari, commodity strategists at ANZ, said Chile’s policy will see the government involved in “all new lithium projects”.

They also highlighted that the technology required for the nation’s push for environmentally friendly processing is “still unproven on a commercial scale”.

According to the strategists:

This could delay the delivery of its pipeline of projects. Other producers also have their issues. Increasing resource nationalism, particularly in Africa could limit growth in supply.

A decreased supply from Chile, a top-three global lithium producer, could drive higher prices for the battery critical metal, which in turn should support the Core Lithium share price.

Indeed, research firm Antaike expects lithium carbonate prices to average US$33,828 per tonne this year. While that’s less than half the average price recorded last year, it’s some 25% above current prices.

Also sounding a bullish note on the outlook for the lithium price is Morgan Stanley.

The broker believes the beaten-down lithium price is at a “turning point”.

“China carbonate prices have bounced 30% from their lows, and hydroxide prices have rebounded by 20%,” the broker noted this week.

According to Morgan Stanley:

Although China’s electric vehicle sales and battery production are back in growth mode after a lacklustre start of the year, cathode and battery cell producers are still not fully back buying in the spot market. But sentiment is clearly improving, and their lithium inventories appear to have eroded.

Core Lithium share price snapshot

The Core Lithium share price is up 3% in 2023 and down 10% over the past 12 months.

Investors who bought shares in the ASX 200 lithium stock two years ago will be sitting on a gain of 315%.

The post What’s the outlook for the Core Lithium share price in May? appeared first on The Motley Fool Australia.

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More reading

• ASX lithium shares are off and racing today. What’s behind the boost?
• Here are the 10 most shorted ASX shares
• The Core Lithium share price surged 14% in April. Here’s why
• What’s the forecast for the lithium price in May?
• 7 reasons why Core Lithium says you should buy its shares

Motley Fool contributor Bernd Struben 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 S&P/ASX 200 Index (ASX: XJO) has started the week in a positive fashion. In afternoon trade, the benchmark index is up 0.7% to 7,270.8 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is down 2% to $173.71. Investors have been selling this investment bank’s shares after brokers responded to its full-year results. This has seen a number of analysts take an axe to their valuations. For example, Citi has retained its neutral rating but cut its price target to $175 from $190.

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is down 6% to 15 cents. This follows the release of an update on drilling activities at the Caldeira Project in Minas Gerais Brazil. Investors appear to have been betting on stronger results being announced by the rare earths explorer.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is down 2.5% to $1.77. Investors have been selling this sports betting company’s shares despite there being no news out of it. However, it is worth noting that Pointsbet shares rocketed higher last week on divestment speculation. This could have led to some profit taking by investors today.

Syrah Resources Ltd (ASX: SYR)

The Syrah Resources share price has resumed its slide and is down 5.5% to 96 cents. Investors have been selling this graphite share after the release of a disastrous quarterly update at the end of last month. In response to unit costs being higher than the graphite prices, management has reduced its production plans and raised $150 million to shore up its balance sheet. Syrah shares are now down 40% in the space of a month.

The post Why Macquarie, Meteoric Resources, Pointsbet, and Syrah shares are falling appeared first on The Motley Fool Australia.

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More reading

• Is the Macquarie share price good value following the bank’s results?
• Here are the 10 most shorted ASX shares
• Why did ASX lithium shares dominate the market on Friday?
• Here are the top 10 ASX 200 shares today
• Everything you need to know about the boosted Macquarie dividend

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 PointsBet. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended PointsBet. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing, the benchmark index is up 0.5% to 7,255.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 11% to $7.30. Investors have been scrambling to buy this rare earths producer’s shares after it announced that the Malaysian government has granted permission to keep importing and processing lanthanide concentrate at its Malaysian facility until 2024. Lynas is looking at taking further action with the aim of overturning an upcoming ban.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price is up almost 8% to 84 cents. This follows a strong session for lithium shares and the release of the company’s quarterly update this morning. In respect to the former, investors have been piling into the industry amid hopes that lithium prices have bottomed for the time being.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is up 2% to $21.76. This morning, Australia’s oldest bank released its half-year results and reported a 22% increase in profit to $4 billion. This was driven by a combination of solid net interest income growth and lower expenses. Westpac declared a 70 cents per share fully franked interim dividend, which was up 15% year over year.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up almost 3% to $34.03. Investors have been buying Woodside and other ASX 200 energy shares after oil prices rebounded strongly on Friday night. This has led to the S&P/ASX 200 Energy index rising by a sizeable 2.1% on Monday afternoon.

The post Why Lynas, Piedmont Lithium, Westpac, and Woodside shares are rising appeared first on The Motley Fool Australia.

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More reading

• Could this tax change end up burning the Woodside share price?
• Here’s what you need to know about the 70 cents Westpac dividend
• Why is ASX 200 share Lynas Rare Earths leaping 12% on Monday?
• Westpac share price on watch amid $4bn half-year profit
• ASX 200 energy shares expected to jump after oil prices surge

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 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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