Category: Stock Market

The Flight Centre Travel Group Ltd (ASX: FLT) share price has been soaring so far this year.

The travel agent’s stock has been on a volatile path after it crashed 61% amid the onset of the COVID-19 pandemic in 2020. It recovered some in 2021, rising 11% over the year before tumbling 18% in 2022.

Now, the Flight Centre share price appears to have finally regained its footing. It’s leapt 30% so far this year to close Thursday’s session at $18.71.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has gained 7% since the start of 2020 and 5% so far this year.

Could the Flight Centre share price keep flying from here, or is it destined to come crashing down once more? Let’s take a look.

The ASX 200 travel giant’s COVID-19-induced struggles

To forecast whether the gains recorded by the Flight Centre share price in 2023 are just a blip or a long-term trend, we must delve into why the stock hit turbulence in recent years.

The company operates in the travel space. Thus, it was hit hard when international (and often state) borders slammed shut in 2020.

In an effort to stay afloat, it scrapped its dividend, closed stores, cut costs, and underwent capital and debt-raising activities. That also saw the company substantially increase its share count.

Come the end of financial year 2020, the travel giant had etched an $849 million statutory loss. Fortunately, its earnings have been generally trending upwards since.

Why has the Flight Centre share price gained 28% in 2023?

With all that in mind, Flight Centre, and its shares, have started 2023 out on the right foot.

The company was nearer to profit in the first half of financial year 2023. It posted a $20 million statutory loss for the period.

It also announced its $211 million acquisition of luxury travel business Scott Dunn in January, undergoing a $180 million placement and an oversubscribed $60 million share purchase plan to do so.

However, while investors clambered to snap up shares in the company’s capital raise, short sellers appeared to remain dubious.

Flight Centre is still among the market’s most shorted shares, with a short interest of 9.76% at last count. That figure has fallen 2% over the past week to sit below 10% for just the second time in 18 months.

Not to mention, while inflation looks to have peaked in Australia, it still remains above historical levels. Though, that hasn’t deterred Aussies from travelling.

Foolish takeaway

All in all, the Flight Centre share price’s 2023 gains appear to be warranted, in my opinion.

However, given the still-high short interest, I wouldn’t be surprised if the stock remains volatile for some time to come.

The post Flight Centre shares are up 30% in 2023. Can it last? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Want to quit your job and live off dividend income? Here’s how
• ASX 200 dips as Aussie unemployment remains near historic lows
• Starting from scratch: How ASX investors can grow a $50k passive income in just 11 years

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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After ten consecutive interest rate rises, the real estate sector is looking worse for wear compared to just a year ago.

To demonstrate, the S&P/ASX 200 Real Estate (ASX: XRE) index is more than 22% down since the start of last year.

“Monetary tightening has adversely impacted the housing market (in the US and domestically), with higher mortgage rates ultimately translating to softer house prices and a decline in new housing construction volumes,” said Wilsons equity strategist Rob Crookston.

However, Crookston indicated in a memo to clients that his team would buy a pair of S&P/ASX 200 Index (ASX: XJO) shares that are exposed to the sector.

“Buying stocks when sentiment is very low can be an astute way to generate returns,” he said.

“This is called contrarian investing.”

Besides, the rate outlook is starting to turn anyway.

“The macro is starting to shift in the US and in Australia, with central banks looking close to the end of tightening cycles,” said Crookston.

“There are strong structural tailwinds behind the US and Australian housing markets.”

‘An attractive investment’ right now

The obvious current pick for the Wilsons team is construction materials provider James Hardie Industries plc (ASX: JHX), which has a significant US business.

“We view James Hardie as an attractive investment at this juncture,” said Crookston.

“In the current challenging backdrop, James Hardie’s earnings have held up relatively well (expected to be broadly flat in FY23) while it has been able to pass on higher prices to help offset rising costs.”

Besides, the quiet housing market could end up being “an opportunity”.

“We think James Hardie is well placed to take advantage of market softness to strengthen its market position and drive further profitable volume share gains.”

The James Hardie share price has declined more than 40% since the start of last year.

The Wilsons team reckons the sell-off is overdone.

“James Hardie currently trades on a price-to-earnings ratio (PE) of 17x, which is 1 standard deviation below its 10-year average,” said Crookston.

“Notwithstanding the immediate headwinds, we think James Hardie is very attractively valued for ‘patient capital’ considering its long-term structural earnings growth potential underpinned by sector tailwinds.”

But this stock for ‘growth at value prices’

Crookston’s second pick is more of a surprise.

It might not be immediately apparent that television station owner Nine Entertainment Co Holdings Ltd (ASX: NEC) would have any connection to the fortunes of the real estate market.

But Wilsons analysts pointed out that it owns 60% of online classifieds site Domain Holdings Australia Ltd (ASX: DHG).

“Domain should benefit from higher house prices and as there tends to be more churn in the real estate market as buyers and sellers look to take advantage of favourable conditions,” Crookston said.

“The key for Domain is that, as property sales prices or rents increase, it can result in higher commissions and fees for Domain. This can help to boost the company’s revenue and profitability.”

So why not just buy Domain shares instead of Nine Entertainment?

“Nine has a diverse portfolio of assets including television broadcasting, digital media, and publishing,” said Crookston.

“The company’s broad range of media offerings could help to mitigate risks associated with any one area of the business.”

Wilsons analysts have deemed that Nine shares are currently offering “growth at value prices”.

“An investor can buy Nine Entertainment at a FY24 PE of 11x, providing a cheap price to get leverage to Domain.”

There is a tidy bonus as well, while investors wait for the housing market to turn.

“Nine has an expected FY23 dividend yield of 5.7% fully franked.”

The post Contrarian play: 2 ASX 200 shares to buy for a sector everyone hates appeared first on The Motley Fool Australia.

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More reading

• ’20-fold increase’: 3 ASX shares that’ll rocket sooner or later
• Here are the top 10 ASX 200 shares today
• Why ASX shares in 2023 are eerily similar to 2019 (and what you should do)
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. 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 Mineral Resources Ltd (ASX: MIN) share price has been a very strong performer over the last 12 months.

Since this time in 2022, the mining and mining services company’s shares have risen a sizeable 28%.

Why has the Mineral Resources share price smashed the market?

A key driver of its strong gains has been the company’s performance in FY 2023.

Thanks largely to its lithium operations, Mineral Resources reported a huge jump in its profits during the first half.

For the six months ended 31 December, the company’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was up 503% to $939 million and its net profit after tax jumped 1,890% to $390 million.

This allowed the company to bring back its interim payout, with the Mineral Resources board declaring a fully franked $1.20 per share dividend.

Can its shares keep rising?

The good news is that there could be plenty more left in the tank according to analysts at Bell Potter.

This week, the broker reiterated its buy rating with a trimmed price target of $100.00. Based on the latest Mineral Resources share price of $78.02, this implies potential upside of almost 30% for investors over the next 12 months.

In addition, the broker is forecasting fully franked dividend yields of 2.4% in FY 2023, 5.1% in FY 2024, and then 10.1% in FY 2025.

Why is it bullish?

Bell Potter is expecting big things from the company’s business transformation and is forecasting significant earnings growth.

So much so, it estimates that the Mineral Resources share price trades on a EV/EBITDA ratio of just 3.1x FY 2025 earnings.

It commented:

Over the next two years we forecast that as MIN’s business transformation is completed, growing production volumes, and improving margins, will result in significant earnings growth. Notwithstanding our adoption of more conservative lithium price forecasts, we retain the view that the longterm lithium demand outlook remains strong, and producers stand to benefit from further price volatility.

The post ‘Significant earnings growth’: Bell Potter says Mineral Resources share price can rocket 30% appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names the ASX 200 lithium shares to buy (and avoid)
• 5 things to watch on the ASX 200 on Thursday
• Passive income investors can get big yields from these top ASX dividend shares: experts
• ASX 200 lithium stocks sink again following Albemarle downgrade
• Which is the best ASX 200 iron ore stock now: BHP, Fortescue, or Mineral Resources?

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 Argosy Minerals Limited (ASX: AGY) share price has fallen off a cliff over the past month.

The ASX lithium share closed the session on Thursday at 39 cents, down 1.3% for the day.

Since the close on 13 March when the stock was worth 63 cents, it has tumbled by a massive 38.6%.

Let’s take a deep dive into this sea of red to find out what’s going on.

Why is the Argosy Minerals share price in freefall?

Argosy Minerals is a lithium mine developer that owns two key projects — the Rincon Lithium Project in Argentina and the Tonopah Lithium Project in the United States.

It’s a small-cap player with a market capitalisation of $555 million.

The ASX lithium share has rapidly declined since hitting a 52-week high of 80.5 cents on 9 February.

A factor pushing the Argosy share price up at that stage was an announcement on 1 February that its Rincon Lithium Project would be ready for steady-state production by the end of the June 2023 quarter.

This will make Argosy Minerals only the second commercial-scale lithium carbonate producer on the ASX.

Since then, there have been two price-sensitive updates.

On 1 March, we heard about the commencement of lithium carbonate batch production works at Rincon, with 5.1 tonnes of battery-quality product produced.

A second update came early this month, with Argosy reporting 10.2 tonnes of battery-quality lithium carbonate product at an average quality of 99.79%.

This is all good news, so there are no clues here to explain the 40% fall.

But here’s some perspective.

This 40% fall is coming off the back of an absolutely stellar run for the ASX lithium share.

Over 2021 and 2022, the Argosy Minerals share price shot the lights out, rising an astronomical 610%.

That’s not a typo.

The shares went from 8 cents at the close on 31 December 2020 to 57 cents at the close on 30 December 2022.

What would you do?

Well, it seems some investors are choosing to take their money and run!

This isn’t surprising after such gob-smacking gains in the Argosy Minerals share price.

It’s entirely normal to see a stock — or indeed, the entire market — pull back a bit after a massive bull run.

We’ve also heard a lot about tumbling lithium prices, which may have contributed to Argosy’s decline.

The Lithium Carbonate Index (battery grade) has also fallen by about 40% over the past month.

It is currently trading at US$26,217 per tonne on the Shanghai Metals Market.

The post Why has the Argosy Minerals share price plummeted 40% in a month? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• 8 ASX 300 lithium stocks surging over 10% today

Motley Fool contributor Bronwyn Allen 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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Looking for some additions to your portfolio? Listed below are two ASX growth shares that have been given buy ratings by Goldman Sachs.

Here’s why its analysts rate them highly:

Breville Group Ltd (ASX: BRG)

The first ASX growth share that is rated as a buy by Goldman is Breville. It is the leading appliance manufacturer behind brands such as Breville, Sage, Kambrook, and Baratza.

Thanks to the success of the company’s global expansion and its consistent in research and development, Breville’s appliances are found in kitchens across the globe. This has underpinned consistently solid earnings growth over the last decade.

Pleasingly, Goldman Sachs believes this can continue and is forecasting double-digit earnings growth through to at least FY 2025. It said:

Looking forward we […] expect BRG will continue to execute on GP margin expansion. We remain supportive of BRG’s characteristics as a high quality name in a secular growth category and believe they will be able to demonstrate revenue and EBIT CAGR of 7.6% and 11.1% over FY22-25.

Goldman has a buy rating and $22.70 price target on the company’s shares.

Life360 Inc (ASX: 360)

Another ASX growth share that Goldman Sachs is bullish on is Life360.

It is a leading player in the digital consumer subscription services market with its popular Life360 app. And when I say popular, I mean popular. At the last count, the company had almost 50 million subscribers on its platform.

Life360’s shares have been hammered over the last 12 months after investors sold down loss-making tech stocks. However, with the company expecting to be profitable soon, Goldman suspects that a major re-rating could be on the cards. It explained:

In our view Life360 is approaching an inflection point as it proves the pricing power of its subscription business model and moves out of the non-profitable tech basket. The full-year impact of price increases drives the majority of CY23 subscription revenue growth, with possible upside to paying subscribers should Tile bundling materially lift payer conversion (expected launch late-1Q23).

Goldman has a buy rating and $7.85 price target on Life360’s shares.

The post Goldman Sachs says these ASX growth shares are market-thumping buys appeared first on The Motley Fool Australia.

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More reading

• Invest like Warren Buffett and buy and hold these ASX shares: experts
• These are the 10 most shorted ASX shares this week
• My top 5 ASX shares to buy and hold forever in anticipation of the bull market
• Here are the top 10 ASX 200 shares today
• Bargain or value trap? Fundie rates 3 ASX 200 shares going for cheap

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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There are various blue-chip ASX dividend shares for investors to think about, such as Commonwealth of Bank (ASX: CBA). However, I think there are better candidates to consider. Here are two other options, but would Rio Tinto Limited (ASX: RIO) or Macquarie Group Ltd (ASX: MQG) shares be a better choice?

Rio Tinto is one of the largest ASX mining shares. It’s one of the biggest miners in the world. It mines various minerals including iron, copper, and more.

Meantime, Macquarie is one of the largest ASX financial shares. It’s an investment bank that runs a bank in Australia, has a global investment bank, an asset management division, and a commodities and global markets (CGM) segment.

Which ASX dividend share pays the biggest yield?

Rio Tinto is making solid earnings at the moment thanks to a pleasing iron ore price of around US$120 per tonne.

The Commsec forecast for earnings per share (EPS) from Rio Tinto is predicted to be $10.95 in FY23. The profit generated would allow Rio Tinto to pay an annual dividend per share of $7.44, which would represent a grossed-up dividend yield of 8.8%.

Macquarie is projected to pay an annual dividend per share of $6.78 in FY23 according to Commsec, after generating $12.91 of EPS. This would be a grossed-up dividend yield of 4.3%. The investment bank is still generating very strong profits despite the economic volatility over the last year or so.

In the short-term, Rio Tinto’s yield is projected to be the higher of these two ASX dividend shares.

By FY25, Macquarie could grow its annual dividend per share to $7.20 and it might generate $13.20 of EPS. Macquarie is predicted to grow in the medium term. The FY25 grossed-up dividend yield could be 4.6%.

But, for Rio Tinto, the forecast is that EPS will decline to $9.79 and the dividend per share could drop to $6.35. This would be a grossed-up dividend yield of 6.5%.

In the longer term, the yields of the businesses could get much closer.

Which passive income option is better for growth?

I think Macquarie has proven that it’s better at delivering consistent growth over time.

For Rio Tinto, the share price, profit, and dividend are heavily influenced by the resource price. Another element to remember is that Rio Tinto’s mines aren’t going to last forever. It does need to invest a lot to start new projects.

Macquarie has been re-investing in its business for the long term, which is useful considering it’s expanding globally in a variety of financial sectors.

Over the past five years, the Macquarie share price has risen 70% and the Rio Tinto share price has gone up 50%. I think capital growth is an important part of being a good ASX dividend share.

While Macquarie may have a lower starting dividend yield, I think it’s more likely to deliver stronger total returns and eventually, the ongoing growth of Macquarie’s dividend could deliver a stronger yield. Macquarie would be the one I’d buy, though Rio Tinto could be appealing next time resource prices sink.

The post Best ASX dividend share to buy now: Rio Tinto vs. Macquarie Group appeared first on The Motley Fool Australia.

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More reading

• 3 reasons the 6% Rio Tinto dividend yield looks safe to me
• Buy these ASX dividend shares now: analysts
• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy today
• Buy Rio Tinto shares ahead of BHP: Goldman Sachs

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and 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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S&P/ASX 200 Index (ASX: XJO) shares for passive income?

You bet!

Not all ASX 200 shares pay dividends. But there are a large number of blue-chip companies to choose from that pay yields well in excess of inflation.

Atop the income they offer, ideally, their share prices will appreciate over time as well.

And as inflation comes down, which it’s bound to, the real returns in passive income you receive should go up.

That’s assuming the ASX 200 shares you’ve invested in don’t cut their payouts over time.

That’s an important risk to bear in mind.

The dividend yields we’re discussing are trailing yields based on the past 12 months’ payouts. That’s backwards looking by definition. The yields these stocks will deliver in the future may be higher or lower than what they’ve paid out over the past 12 months.

$50 a week in passive income from ASX 200 shares

With that said, here are three ASX 200 shares that could deliver me $50 per week in passive income. Or a handy $2,600 per year.

As all three pay fully franked dividends, I’ll also receive credit for the 30% in taxes the companies have already paid on their profits.

First up, we have ASX 200 coal share New Hope Corp Ltd (ASX: NHC).

On the back of record thermal coal prices in 2022, New Hope’s all-time high interim dividend of 40 cents per share was paid out on 5 March. Atop the 56 cents per share final dividend, the coal miner paid out a total of 96 cents per share over the past 12 months.

At the current New Hope share price of $5.91, that works out to a juicy trailing yield of 16.2%. The New Hope share price is up 58% over those 12 months.

The next ASX 200 share I’d target for passive income is Westpac Banking Corp (ASX: WBC).

The big four bank stock paid an interim dividend of 61 cents per share on 24 June and a final dividend of 64 cents per share on 20 December for a total payout of $1.25 per share.

At the current Westpac share price of $22.05, the bank pays a trailing yield of 5.7%. Westpac shares are down 9% over the past year.

Which brings us to the third ASX 200 share I’d look at for my $50 weekly passive income stream, Woodside Energy Group Ltd (ASX: WDS).

Last week, 5 April, Woodside paid out a record-high final dividend of $2.15 per share. Adding in the $1.60 interim dividend, paid on 6 October, and Woodside paid out a total of $3.75 to shareholders over the 12 months.

At the current Woodside share price of $34.48, that equates to a trailing yield of 10.9%. Woodside shares have gained 8% over the full year.

How much do I need to invest for $50 a week in passive income?

Assuming I buy an equal number of each of these three ASX 200 dividend shares, my average fully franked yield comes out to 10.9%.

So, in order to garner a $50 weekly passive income stream ($2,600 per year) I’d need to invest $23,853 and change.

Now that may be a big chunk of cash to invest all in one go.

But that’s no problem.

I could always invest in these ASX 200 shares in smaller regular increments and I’ll reach my goal in due time.

The post Here’s how I’d aim for $50 a week in passive income from ASX 200 shares appeared first on The Motley Fool Australia.

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More reading

• Investor or depositor? Warren Buffett sounds off on banking crisis
• ASX 200 energy shares Santos and Woodside outperforming as oil hits new 2023 highs
• I’m buying ASX 200 dividend stocks ahead of the next bull market
• Could Westpac shares have ‘the greatest potential’ of all the ASX 200 bank stocks?
• It’s official, the ASX 200 big four banks are the world’s most capitalised. Should you buy?

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 Westpac Banking. 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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After wobbling in and out of the green this morning, the S&P/ASX 200 Index (ASX: XJO) cemented its position in the red on Thursday, closing the session 0.27% lower at 7,324.1 points.

It followed a weak session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) dropped 0.1% on Wednesday overseas, while the S&P 500 Index (SP: .INX) fell 0.4% and the Nasdaq Composite Index (NASDAQ: .IXIC) tumbled 0.9%.

The New York-based indices’ falls came amid the latest United States inflation data. The nation’s headline consumer price index (CPI) dropped to 5% in March. It seems that wasn’t a large enough fall to warrant investor enthusiasm.

Back home, the S&P/ ASX 200 Consumer Staples Index (ASX: XSJ) weighed heaviest, falling 1.2%. Meanwhile, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) slumped 0.7%.

On the other hand, it was a good day to be invested in energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) lifted 0.9% on Thursday.

So, what all that in mind, let’s take a look at the 10 ASX 200 shares that outperformed all others in today’s session.

Top 10 ASX 200 shares countdown

Today’s biggest gain was posted by the Corporate Travel Management Ltd (ASX: CTD) share price – it rose 12% to close at $21.18.

The gain came on news the company has won a notable government contract worth close to $3 billion of total transaction value.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Corporate Travel Management Ltd (ASX: CTD)	$21.18	12.06%
Nickel Industries Ltd (ASX: NIC)	$0.985	5.35%
Imugene Limited (ASX: IMU)	$0.135	3.85%
Lendlease Group Ltd (ASX: LLC)	$8.11	3.18%
Regis Resources Ltd (ASX: RRL)	$2.32	3.11%
Ingenia Communities Group (ASX: INA)	$3.97	2.85%
Whitehaven Coal Ltd (ASX: WHC)	$6.91	2.67%
Downer EDI Ltd (ASX: DOW)	$3.52	2.62%
Centuria Capital Group (ASX: CNI)	$1.61	2.55%
Netwealth Group Ltd (ASX: NWL)	$12.85	2.55%

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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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 Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool Australia has recommended Corporate Travel Management. 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 Energy Index (ASX: XEJ) is leaping 0.82% today but this ASX oil and gas share is soaring far higher.

The Omega Oil & Gas Ltd (ASX: OMA) share price soared 53.8% from 19.5 cents to 30 cents today before slightly pulling back. At the time of writing, Omega’s shares are soaring 41% to 27.5 cents.

Let’s take a look at why this ASX oil and gas share is having such a top run.

What’s going on?

Omega shares are rising today after the company reported “outstanding exploration success” in the Bowen Basin, Queensland.

Drilling at the canyon-2 well intersected with 293 metres of gas and liquid hydrocarbon shows within the Kianga formation and upper Back Creek Group.

The well has reached a total depth of 3807 metres. Gas covered the entire length of the 221 thick Kianga Formation. The Kianga formation is the primary target of exploration, while the Back Creek Group is the secondary target.

Omega said the results are “extremely positive” and “exceeded expectations”.

Commenting on the news, managing director Lauren Bennett said:

We are very excited with these results, and they are an excellent start to our Basin-centered gas drilling campaign.

Given the forecast gas supply shortages, finding and developing new sources of unencumbered gas is critical.

The company said drilling at Canyon-2 is ahead of schedule.

Omega first listed on the ASX in October 2022. Drilling of the canyon-2 well started on 19 March 2023.

Share price snapshot

The Omega share price has risen 37.5% in the last year and nearly 62% in the last month.

For perspective, the ASX 200 Energy Index has returned nearly 7% in the last year.

This ASX oil and gas share has a market cap of about $42 million based on the current share price.

The post Why did this ASX oil and gas share just explode 50%? appeared first on The Motley Fool Australia.

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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 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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Investors in ASX 200 retail shares have been bracing themselves over the past 12 months as rising inflation and interest rates force Australian consumers to tighten their belts.

These macroeconomics aren’t good for retail shares, especially those in the discretionary sector.

In 2022, we saw a 23% decline in the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) as investors sold out of retail shares because they expected falling sales, revenues, and dividends.

Annual inflation in Australia peaked at 8.4% over the 12 months to December. It has since come down a bit to 6.8% over the 12 months to February, according to the latest figures from the Bureau of Statistics.

This was one of the reasons the Reserve Bank decided to pause interest rate hikes this month.

This has brought new confidence to the consumer discretionary sector, with the index up 12.3% in the year to date.

It seems ASX 200 retail shares are back on investors’ radars in 2023, despite inflation remaining very high historically.

So, which ASX 200 retail shares are performing best in this challenging environment?

Using data from S & P Global Market Intelligence, we can reveal the top share for price growth over the past 12 months.

Livin’ la Vida Lovisa

The ASX 200 retail share with the highest share price growth over the past 12 months is Lovisa Holdings Ltd (ASX: LOV).

Shares in the fashion jewellery and accessories retailer have increased by 46% over the past year.

That’s pretty gob-smacking growth during a period of such high inflation.

Ranking behind Lovisa — by a long way — are these four other ASX 200 retail shares rounding out the top five performers over the past 12 months.

• The Super Retail Group Ltd (ASX: SUL) share price is up 25.1%
• The Wesfarmers Ltd (ASX: WES) share price is up 8.6%
• The Eagers Automotive Ltd (ASX: APE) share price is up 4.1%
• The Bapcor Ltd (ASX: BAP) share price is up 4.1%

Why is the Lovisa share price rising so fast?

The company’s global expansion plans look very promising, and its vertically-integrated business model may be protecting it from inflation somewhat. You see, Lovisa designs and manufactures all of its products in-house, which means it has greater relative control over its costs.

As my Fool colleague James reported last week, Morgans has Lovisa shares on its best ideas list.

The broker has an add rating on Lovisa and a $28.50 price target on the shares.

In a note, the broker said:

LOV is a global fast fashion jewellery brand with more than 700 stores in more than 30 countries. We think it may prove to be one of the biggest success stories in Australian retail.

With ambitious and well-incentivised new leadership in place, we think now is the time LOV steps up to become a global force. LOV has accelerated its organic rollout in the US and entered into a number of new markets, including Hong Kong, Mexico, Italy, Columbia and Peru.

Investment will be needed to expand LOV’s network in the US and Europe and to take it into new markets, but the returns could be stellar.

As another colleague Tristan points out, Commsec values the Lovisa share price at just 20 times FY25 estimated earnings, with a possible FY25 grossed-up dividend yield of 5.6%.

The Lovisa share price is up 0.3% today to $25.68.

The post Which ASX 200 retail share is performing best during high inflation? appeared first on The Motley Fool Australia.

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More reading

• Invest like Warren Buffett and buy and hold these ASX shares: experts
• My top 5 ASX shares to buy and hold forever in anticipation of the bull market
• Morgans names the best ASX 200 growth shares to buy in April
• Top ASX growth shares to buy in April 2023
• 2 excellent ASX 200 shares I’d buy in April (and hold until at least 2030)

Motley Fool contributor Bronwyn Allen 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 Lovisa and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group and Wesfarmers. The Motley Fool Australia has recommended Bapcor and Lovisa. 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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