Category: Stock Market

AMP Ltd (ASX: AMP) shares have soared nearly 32% in the year to date.

Despite some highs and lows during the year, AMP shares have lifted from $1.01 at market close on 31 December and are now trading at a yearly high of $1.33.

Let’s take a look at how much money I would have now if I had invested in this ASX financial share at the start of the year?

Good investment?

Let’s say I had bought AMP shares for $1.01 prior to market open on 4 January.

Imagine I had put down $10,000 of my savings in this investment. I would have walked away with 9,900 shares at this price with $1 left over.

Now, these shares are worth $1.33, based on Tuesday’s closing price. So my investment would now be worth $13,167. This means I would have made $3,167 in profit year to date.

Now, let’s take a look at the bigger picture for AMP shares. On 27 January, AMP shares were fetching just 87 cents. On this day, my investment would be worth just $8,613.

However, overall, if I had bought $10,000 worth of AMP shares at the start of the year and held on to them, I would be very happy with my investment.

AMP reported positive inflows and growth across most of its operations in the third quarter. AMP bank’s loan book also lifted by $0.6 billion to $23.3 billion.

Commenting on the results, chief executive Alexis George said:

Our bank continues to grow above system with both the loan and deposit books increasing in a competitive market.

AMP share price snapshot

AMP shares have surged 32% in the past year, gaining 10% in the last month alone.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has climbed 0.19% in the last year.

The company has a market capitalisation of about $4.1 billion.

The post If you’d bought $10,000 of AMP shares at the start of the year, congrats! Here’s what you’d have now appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares hitting new 52-week highs on Wednesday
• Up 10% in a month, are AMP shares worth buying back into now?
• Is it finally safe to buy ASX shares now?
• ASX 200 shares may have just hit the bottom: AMP economist
• Looking to buy AMP shares? Here’s the latest blow to the company’s major divestment

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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Telstra Group Ltd (ASX: TLS) increased its dividend for the first time in seven years in FY22. And now the dividend has received global recognition in the Janus Henderson Global Dividend Index report.

Telstra shares fell slightly today to close at $4 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) rose 0.33% today.

Let’s take a look at the global dividend trend report in a little more detail.

What did the report say?

In Australia, there was an overall 13% decline in dividend payouts in the third quarter, according to the report. Global dividends increased 7% overall to $415.9 billion in the quarter.

BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), and Commonwealth Bank of Australia (ASX: CBA) made the list of the top 20 dividend payers in the world in the third quarter.

The report also highlighted Telstra and Transurban were among ASX shares to significantly lift their dividends in the third quarter of the 2022 calendar year. The report said:

Banks accounted for one quarter of the Q3 total and made the largest contribution to growth; their payouts rose 5.8% on an underlying basis.

However, the biggest percentage increases came from Telstra and Transurban, the former returning surplus capital, despite lacklustre operating performance, and the latter recovering sharply from the lifting of lockdowns.

The Australian headline total fell by a fifth reflecting lower special dividends and weakness in the Australian dollar.

Telstra paid a fully franked final ordinary dividend of 7.5 cents per share in FY22, up 50% from 5 cents per share in FY21. This was paid in September. In addition, Telstra paid out a special dividend of 1 cent per share in FY22, down from a 3-cent special cash dividend in 2021.

As highlighted in Telstra’s annual results, the telco increased its dividend for the first time in seven years in FY22. This reflected the company completing its T22 strategy and “strong momentum” in the underlying business.

The company’s earnings per share (EPS) soared 48.5% to 14.4 cents per share. Looking ahead, Telstra is looking to grow its fully franked dividend as part of its T25 strategy.

Telstra CEO Vicki Brady said:

With cash flow generation and opportunities ahead to monetise assets (although we have made no decisions yet in this regard), we will focus on maximising our fully-franked dividend and seeking to grow it over time.

Share price snapshot

The Telstra share price has fallen 4% in the year to date, while it has climbed 2% in the last month.

For perspective, the ASX 200 has gained 0.15% in the past year.

This ASX share has a market capitalisation of more than $46.2 billion based on the current share price.

The post Guess which ‘boring’ ASX 200 share became one of the top dividend boosters of 2022 appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• The Webjet share price hit a new 52-week high today. What’s going on?
• Why is the Lynas share price leaping higher today?
• Why has the Novonix share price crumbled 19% in 2 weeks?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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 positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) spent the afternoon in the green on Tuesday. The index closed today’s session 0.33% higher at 7,253.3 points.

That was despite an early downturn that saw it dump as much as 0.39% to an intraday low of 7,200.9 points.

The volatility came as the market awaited a briefing from Chinese officials regarding the country’s current COVID-19 outbreak, CNBC reports.

Mining stocks were among the top performers today. The S&P/ASX 200 Materials Index (ASX: XMJ) lifted 1.7%.

Joining it in the green was the S&P/ASX 200 Health Care Index (ASX: XHJ). It lifted 0.6% amid earnings from one of its larger constituents.

It wasn’t such a bright day for energy shares, however. The S&P/ASX 200 Energy Index (ASX: XEJ) traded relatively flat, lifting just 0.03%, despite a mixed performance from oil prices overnight.

The Brent crude oil price fell 0.5% to trade at US$83.19 a barrel overnight, while the US Nymex crude oil price lifted 1.3% to US$77.24 a barrel.

All in all, four of the ASX 200’s 11 sectors closed higher today. But which stock took today’s crown? Keep reading to find out.

Top 10 ASX 200 shares countdown

Of course, today’s top performer was also the healthcare stock driving its home sector higher on Tuesday. The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price soared 10% today despite the company posting a 57% drop in after-tax profits.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)	$21.09	9.84%
Nanosonics Ltd (ASX: NAN)	$4.88	4.72%
Rio Tinto Limited (ASX: RIO)	$107.83	3.53%
Champion Iron Ltd (ASX: CIA)	$6.21	3.5%
South32 Ltd (ASX: S32)	$4.07	3.04%
Liontown Resources Ltd (ASX: LTR)	$1.905	2.97%
Chalice Mining Ltd (ASX: CHN)	$5.25	2.94%
Imugene Limited (ASX: IMU)	$0.18	2.86%
Sandfire Resources Ltd (ASX: SFR)	$5.13	2.81%
Novonix Ltd (ASX: NVX)	$2.24	2.75%

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

• The 10 ASX 200 shares responsible for 60% of all Aussie dividends last quarter
• The Webjet share price hit a new 52-week high today. What’s going on?
• Why is the Lynas share price leaping higher today?
• Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher
• Here’s what’s boosting these ASX 200 mining giants today

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 Limited. The Motley Fool Australia has positions in and has recommended Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Shareholders invested in just 10 S&P/ASX 200 Index (ASX: XJO) giants saw the bulk of all dividends on offer from companies listed on the Aussie bourse last quarter.

Indeed, their payouts – weighted to account for the three-month period – came to a total of $19.2 billion, according to data provided by S & P Global Market Intelligence.

That represents 62% of all the $31.1 billion offered to ASX investors during that time.

So, which ASX 200 shares helped make up the astounding figure? Keep reading to find out.

Meet the ASX 200’s dividend machines

The ASX 200 share posting the biggest dividend for the third quarter likely won’t surprise eagle-eyed market watchers. It is, of course, BHP Group Ltd (ASX: BHP).

The iron ore giant offered investors a $2.55 per share final dividend in September. As the goliath only offers two dividends per year, half of its latest offering – a whopping $6.4 billion worth, according to data provided by S & P Global Market Intelligence – can be attributed to the quarter just been.

For those playing at home, that means BHP’s latest payout can be seen to account for an eye-watering 33% of all dividends for the September quarter.

The next biggest dividend payer was Rio Tinto Ltd (ASX: RIO). It handed out around $3.2 billion of dividends for the period, as per data provided by S & P Global.

Other ASX 200 giants taking out top dividend-paying spots include Fortescue Metals Group Limited (ASX: FMG), Woodside Energy Group Ltd (ASX: WDS), and Wesfarmers Ltd (ASX: WES).

ASX 200 banks, of course, also featured heavily. Commonwealth Bank of Australia (ASX: CBA) led the big four – $1.8 billion of its dividends were attributed to the period.

National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC), and Australia and New Zealand Banking Group Ltd (ASX: ANZ) also made the top 10.

Finally, taking the last spot on the dividend leaderboard, was ASX 200 financial icon Macquarie Group Ltd (ASX: MQG). It boasted $557.5 million of dividends attributable to the period, according to data provided by S & P Global.

The post The 10 ASX 200 shares responsible for 60% of all Aussie dividends last quarter appeared first on The Motley Fool Australia.

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More reading

• Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher
• Here’s what’s boosting these ASX 200 mining giants today
• Can the Rio Tinto dividend maintain its high yield of 9.9%?
• Did Fortescue just lose out on this multi-billion dollar green hydrogen project?
• If you bought $20,000 worth of Westpac shares this year, here’s how much dividend income you’d have

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 positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Macquarie Group Limited and 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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If you’re wanting to build a retirement portfolio filled with dividend shares but aren’t sure which ones to buy, you could consider exchange traded funds (ETFs).

There are a number of ETFs out there that have been designed to give investors access to a group of dividend shares through a single investment.

Two that could be worth considering for a retirement portfolio are listed below. Here’s what you need to know about them:

BetaShares S&P 500 Yield Maximiser (ASX: UMAX)

The BetaShares S&P 500 Yield Maximiser could be a top option for a retirement portfolio. This ETF has been designed to generate attractive quarterly income and reduce the volatility of portfolio returns at the same time.

The ETF aims to achieve this through the implementation of an equity income investment strategy over a portfolio of shares comprising the S&P 500 Index. These are 500 of the largest companies listed on Wall Street. This includes dividend-payers such as Apple, Exxon Mobil, and Walmart.

The BetaShares S&P 500 Yield Maximiser’s units currently provide investors with an 8.8% distribution yield.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

The Vanguard Australian Shares High Yield ETF is another top ETF for income investors to consider for a retirement portfolio.

The ETF provides investors with low-cost exposure to companies listed on the Australian stock exchange that have higher forecast dividends relative to other ASX-listed companies.

But don’t worry, you won’t end up with a portfolio filled with coal and iron ore miners! That’s because the ETF restricts the proportion invested in any one industry to 40% and 10% for any one company. In addition, Australian Real Estate Investment Trusts (A-REITS) are excluded from the index.

Vanguard notes that this ensures that income investors are holding a diverse collection of dividend shares. Among the 70 shares included in the portfolio you’ll find the likes of BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), Telstra Corporation Ltd (ASX: TLS), and Wesfarmers Ltd (ASX: WES).

The Vanguard Australian Shares High Yield ETF is currently trading with an estimated forward dividend yield of 5.9%.

The post Buy these ETFs for an income in retirement appeared first on The Motley Fool Australia.

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More reading

• 2 popular ETFs for ASX investors to buy next week
• 2 ETFs for ASX investors to buy for big dividends
• These ASX dividend shares have big 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 BetaShares S&P500 Yield Maximiser, Telstra Corporation Limited, and Wesfarmers Limited. The Motley Fool Australia has recommended Vanguard Australian Shares High Yield 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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It’s been a rather inspiring day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) this Tuesday. At market close, the ASX 200 has added a healthy 0.29% to its value, putting the index at around 7,250 points. But it’s been even better for the Webjet Limited (ASX: WEB) share price.

Webjet actually spent most of the trading day in the red. It opened at $6.23 before falling to an intraday low of $6.15 this morning. But investors seem to have gotten a second wind. In late afternoon trade, Webjet rose above the breakeven line again and hit a high of $6.30 a share before closing at $6.29, up 0.96% for the day.

$6.30 is a new 52-week high for Webjet. This ASX 200 travel share last saw a share price at this level back in October 2021. This is the culmination of a rather incredible run Webjet has been on recently. Over the past month alone, this travel company has gained a healthy 19.1%. It’s now up an even more impressive 35.5% or so since 3 October.

But although shareholders will no doubt be rejoicing in this new high watermark today, the Webjet share price still remains well below its pre-COVID pricing levels. To illustrate, Webjet was asking for around $9.80 a share back in February 2021. Its last all-time record high occurred way back in August 2018. That saw the company break over $12.20 a share.

But no point in looking back to ruin the joys of this moment for investors.

So what’s behind this new high for Webjet?

Why is the Webjet share price flying to new highs?

Well, it’s almost certainly got something to do with the company’s impressive half-year results that were delivered earlier this month, back on 17 November.

As we covered at the time, Webjet delighted investors by announcing a 217% increase in revenues and a 557% rise in earnings before interest, tax, depreciation and amortisation (EBITDA).

The company also recorded a net profit after tax (NPAT) of $32 million, which was a nice swing from last year’s loss of $29.2 million. Even better, Webjet declared that is on track to exceed its pre-pandemic profitability in FY2023.

The Webjet share price jumped 10% upon the release of these results, and investors haven’t really looked back since.

But things could get even better for Webjet and its investors. As my Fool colleague James covered on the weekend, ASX broker Goldman Sachs has put Webjet on its conviction list.

The broker has a conviction buy rating on the company right now, with a 12-month share price target of $6.90. That would represent another near-10% gain from where the Webjet share price finished today.

 

The post The Webjet share price hit a new 52-week high today. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Why is the Lynas share price leaping higher today?
• Why has the Novonix share price crumbled 19% in 2 weeks?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How to make $56,000 in passive income by investing $500 a month in ASX shares
• Profit down 57%, share price up 12%. What’s with this ASX 200 healthcare stock today?

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 recommended Webjet 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 Bank of Queensland Ltd (ASX: BOQ) share price suffered yesterday when it was announced that the CEO George Frazis had left the bank.

Frazis, who had been in charge of the bank for a few years, left on the day of the announcement. He’ll still get his entitlements in accordance with the terms of his contract of employment.

But, it’s now the BOQ chair Patrick Allaway who is in charge after becoming the executive chair while the company looks for a new CEO.

The choice of Allaway as the leader is “designed to retain stability and will ensure that the executive leadership team can stay focused on their current roles and responsibilities”.

It was decided by the bank’s board that different leadership was required to ensure that BOQ can “continue to build a stronger and more resilient bank through future cycles”.

Growth is still seen as important, but it wants to focus on strengthening its financial and operational resilience, invest in building a cloud-based digital and data-led scalable bank, and optimise performance through simplification and productivity.

Is this an opportunity with the BOQ share price?

It’s an interesting question. How much value does a CEO add to a business?

Arguably, not that much. In times of worsening economic times, a bank would supposedly want its loan book to perform as well as it can. There’s not much point achieving growth with a 2% lending margin, or 2% net interest margin (NIM), if that loan goes bad.

It may be worthwhile to be prudent during difficult times.

The CEO is gone, but the BOQ share price is down more than 5% since the announcement.

The broker UBS didn’t change its price target on BOQ after this news. A price target is where the broker thinks the valuation will be in 12 months. UBS’ price target on BOQ is $8, implying a possible rise of 12%.

Credit Suisse is also neutral on the banking business, with a price target of $7.50. That implies a possible rise of around 5%. The broker’s price target was a sizeable cut from before.

Morgan Stanley, another broker, is equal-weight on the BOQ share price. But, the price target is $8.30 – that suggests a mid-teen rise for the business. The broker noted that this could lead to investor uncertainty about the bank’s long-term strategy.

Using Morgan Stanley’s numbers, the BOQ share price is valued at 8x FY23’s estimated earnings with a possible grossed-up dividend yield of 10.4%.

The post Are Bank of Queensland shares a buy following the CEO’s shock ousting? appeared first on The Motley Fool Australia.

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More reading

• Why Bank of Queensland, Bubs, City Chic, and Liontown shares are sinking
• Why is the Bank of Queensland share price sinking over 6% today?
• The Bank of Queensland upsized dividend is being paid out today. Here’s the lowdown
• ASX 200 bank shares: fundie picks winners and losers of the big four
• Top fund manager sounds alarm bells for bank 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 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 Lynas Rare Earths Ltd (ASX: LYC) share price is trading higher on Tuesday.

Lynas shares are up 2.04%, currently fetching $8.52 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.28% at the time of writing.

Let’s take a look at how this ASX rare earths producer is performing today.

What is happening at Lynas?

Lynas is not the only ASX rare earths share in the green today. The Peak Rare Earths Ltd (ASX: PEK) share price is up 1.06%, while Arafura Rare Earths Ltd (ASX: ARU) shares are 2.47% higher. The S&P/ASX 200 Materials Index (ASX: XMJ) is also up 1.73% in late afternoon trade.

Today, Lynas held its annual general meeting. In a presentation, the company’s CEO Amanda Lacaze highlighted demand is continuing to grow for rare earths used in electric vehicles and for wind energy.

The company showed a slide revealing another five kilotonnes (kt) of Neodymium-Praseodymium (NdPr) oxide is required for 10 million hybrid electric vehicles. And a further seven kt of NdPr oxide is needed for 10 million battery electric vehicles.

Lynas said it is targeting concentrate feedstock of 12,000 tonnes per annum of NdPr products in 2024.

The company shared a YouTube video of its global operations. Lynas said the Mt Weld mine in Western Australia is “one of the world’s best rare earths resources”. It also showed vision of Lynas Malaysia where rare earths are refined into products, highlighting:

Lynas Malaysia is the world’s largest single rare earths processing plant.

In June, the company signed a contract with the US Defense Department for a $120 million heavy rare earths separation facility in the United States. The company is also constructing a rare earths processing facility in Kalgoorlie, Western Australia.

Commenting on the year overall, chair Kathleen Conlon said 2022 was an “excellent year for shareholders”. She added:

Rare earths market prices and demand for NdFeB magnets were robust throughout the 2022 year. The recognition of Lynas as a leading supplier of rare earth materials meant that we experienced strong demand for the NdPr product family and mixed Heavy Rare Earth compound (known as SEG) and this was a key contributor to our excellent results.

Lynas reported a net profit after tax (NPAT) of $540.8 million in FY22 and sales revenue of $920 million.

Share price snapshot

Lynas shares have climbed just 0.24% in the past year, while they have fallen 16% year to date. In the past month, Lynas shares have risen 5%.

For perspective, the ASX 200 has climbed 0.06% in the last year.

Lynas has a market capitalisation of about $7.7 billion based on the current share price.

The post Why is the Lynas share price leaping higher today? appeared first on The Motley Fool Australia.

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More reading

• Why has the Novonix share price crumbled 19% in 2 weeks?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How to make $56,000 in passive income by investing $500 a month in ASX shares
• Profit down 57%, share price up 12%. What’s with this ASX 200 healthcare stock today?
• Bought $1,000 of ANZ shares 10 years ago? Here’s how much dividend income you’ve received

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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The S&P/ASX 200 Index (ASX: XJO) is on course to bounce back with a small gain on Tuesday. In afternoon trade, the benchmark index is up 0.3% to 7,250.1 points.

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

Ainsworth Game Technology Limited (ASX: AGI)

The Ainsworth Game Technology share price is up over 9% to $1.21. Investors have been buying this gaming technology company’s shares following the release of an update at its annual general meeting. Management advised that it expects to achieve approximately $18 million in profit before tax pre-currency and one-offs for the six months ending 31 December 2022.

BHP Group Ltd (ASX: BHP)

The BHP share price is up 2.5% to $45.00. The catalyst for this gain appears to have been a rebound in iron ore prices during Asian trade. According to the Singapore Exchange, iron ore futures are up 3% to US$100.40 per tonne. Rio Tinto Ltd (ASX: RIO) shares are rising by a similar margin for the same reason. The potential easing of restrictions in China has boosted prices.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is up 10% to $21.18. This follows the release of the medical device company’s half year results this morning. Although Fisher & Paykel Healthcare reported a 57% decline in net profit after tax to NZ$88.85 million, this was in line with expectations. The prior corresponding period benefited greatly from COVID demand for respiratory care devices.

Leo Lithium Ltd (ASX: LLL)

The Leo Lithium share price is up 6% to 51 cents. Leo Lithium and a number of other lithium shares are rebounding strongly today after recent declines. This may have been driven by speculation that China may ease COVID restrictions despite soaring cases. China is holding a COVID briefing later today.

The post Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Here’s what’s boosting these ASX 200 mining giants today
• Profit down 57%, share price up 12%. What’s with this ASX 200 healthcare stock today?
• Mike Henry has sold $650k of BHP shares in the past week. What’s going on?
• Almost ready to retire? How to generate $70k per year of passive income from ASX dividend shares
• Does an investment in Fortescue shares provide the ‘healthiest’ ASX exposure to iron ore?

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 S&P/ASX 200 Index (ASX: XJO) iron ore giants are trouncing the benchmark’s return in late afternoon trade on Tuesday.

At the time of writing, the ASX 200 is up 0.3%.

Meanwhile:

• BHP Group Ltd (ASX: BHP) shares have gained 2.3%
• Rio Tinto Ltd (ASX: RIO) shares are up 3.2%
• Fortescue Metals Group Limited (ASX: FMG) shares are up 2.7%

Considering the outsized weighting the three mining stocks have on the ASX 200, the benchmark owes much of its gains today to their strong performance.

What’s piquing investor interest?

Investors have been bidding up the ASX 200 miners today after a boost in iron ore futures prices.

The industrial metal leapt 3% to US$100.40 (AU$149.80) per tonne. That’s up from just over US$81 per tonne on 1 November. And it’s the highest price the industrial metal has fetched in two months, since 29 September.

The increased iron ore price, and resultant lift in the ASX 200 miners, may come as a surprise following the past few days of news centred around China’s COVID zero policies.

With new infections still soaring in China, analysts are expecting the world’s second-biggest economy to struggle amid continuing rolling lockdowns.

Atop the economic hit, social unrest has broken out over those restrictions. Over the weekend and into Monday, China witnessed almost unheard of mass protests from citizens demanding a return of freedom of movement.

All this bodes poorly for metals demand from the Middle Kingdom, throwing up headwinds for the ASX 200 miners.

However, these fears look to have been trumped amid fresh news that Chinese regulators have upped their efforts to aid China’s floundering, iron ore-hungry property sector.

Aside from boosting the iron ore price, China’s SSE Composite Index is up 2.2% in mid-day trading.

How have the ASX 200 miners performed in 2022?

Despite some big price swings, it’s been a good year to be invested in the ASX 200 miners.

Since the opening bell on 4 January, the BHP share price is up 21%, Rio Tinto shares have gained 7%, and the Fortescue share price is up 2%.

For some context, the benchmark index is down 5% for the calendar year.

The post Here’s what’s boosting these ASX 200 mining giants today appeared first on The Motley Fool Australia.

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More reading

• Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher
• Can the Rio Tinto dividend maintain its high yield of 9.9%?
• Did Fortescue just lose out on this multi-billion dollar green hydrogen project?
• Up 30% in a month, why the Fortescue share price could have further to run: fundie
• Mike Henry has sold $650k of BHP shares in the past week. What’s going on?

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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