Category: Stock Market

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The Federal Reserve’s aggressive monetary stance in 2022 has caused investors to reassess their appetite for risk, leading to a plunge in the most speculative assets out there, a category that cryptocurrencies undoubtedly belong in. 

Even the second-biggest cryptocurrency by market cap, Ethereum (CRYPTO: ETH), hasn’t been immune to the general market’s weakness. The popular crypto is down 64% this year (as of this writing), but a recent catalyst could drive investor interest to new heights. 

With The Merge now complete, is this a good time to buy Ethereum? Let’s take a closer look. 

Changing the consensus mechanism 

For its entire history (up until a couple of weeks ago), Ethereum operated what is called a proof-of-work (PoW) system. This requires so-called miners to use massive amounts of electricity to power computers to solve complex math problems, earning the right to validate new transactions on the blockchain. Bitcoin, the world’s most valuable cryptocurrency, operates with PoW. 

Detractors point to the fact that PoW is energy-intensive and not really scalable. Bitcoin uses the same amount of energy as a small country. Furthermore, it can only process three transactions per second (TPS). 

As a result of these perceived limitations, developers have transitioned Ethereum to run on a proof-of-stake (PoS) consensus mechanism. PoS allows token owners to lock up, or stake, their ether tokens to help validate new transactions and secure the network. Moving to proof-of-stake was seven years in the making, so its long-awaited completion demonstrates exactly how complex and groundbreaking the move was. 

According to its official website, Ethereum’s energy use has now been cut by 99.95%, a statistic that is sure to please environmentalists in both the government and the crypto community. Additionally, moving to PoS paves the way for Ethereum’s network to implement sharding in 2023, an update that will split and distribute the network load across side blockchains. Think of it like adding more lanes to a highway. The result is a huge potential increase in throughput to the tune of 100,000 TPS. 

However, a valid argument can now be made that PoS makes Ethereum’s network more centralized, as it is estimated that 43% of all staked Ethereum is held by two entities right now — crypto exchange Coinbase and Lido DAO, a decentralized staking solution designed for Ethereum. This could lead to problems down the road that are at odds with the core tenet of decentralization that blockchain technology promises. For example, Coinbase and Lido could have undue influence over Ethereum in the future, affecting things like transaction approvals and governance strategies. 

Nonetheless, Ethereum is now in a position to scale better thanks to its switch to PoS. And this could lead to even greater adoption with the continued popularity of decentralized applications such as decentralized finance (DeFi) protocols and non-fungible tokens. 

Investors should weigh the options 

Of the cryptocurrency networks out there that incorporate smart contracts, Ethereum is the most attractive for investors because of its deep developer ecosystem. According to venture capital firm Electric Capital, Ethereum had the most developers working on it at the start of the year. And with sharding on the horizon in 2023, it’s not hard to see even more developers flocking to work on advancing Ethereum. 

Other popular cryptos that have already been operating a PoS system are Cardano and Solana. Both of these have their own special characteristics that investors could find appealing. Cardano is known for having a deliberate, calculated, and research-based development process. And Solana, with the theoretical capacity to process 50,000 TPS, could disrupt the payments industry. 

Therefore, investors are presented with the option of buying a basket of these interesting cryptocurrencies, all with their own unique attributes and potential use cases, or perhaps putting their entire crypto allocation into Ethereum. Experts believe that it’s too early to tell what the exact implications of The Merge will be, but it certainly could prove to be a long-term catalyst that drives the price of Ethereum higher over time. 

With Ethereum’s price down 25% over the past couple of weeks, investors who have been on the sidelines might want to jump in and buy some of this top cryptocurrency. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Is now the time to buy Ethereum after The Merge? appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin, Ethereum, and Solana moved higher on Tuesday
• Bitcoin isn’t as ‘smart’ as Ethereum… and that’s why I hold it
• Check out this US stock if you’re worried about crypto and chip shortages
• Soy boy and bitshaming: Here’s your guide to crypto slang
• How will the Ethereum merge impact the Bitcoin price?

Neil Patel has positions in Coinbase Global, Inc. and Ethereum.  The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Coinbase Global, Inc., Ethereum, Lido DAO, and Solana. The Motley Fool Australia has positions in and has recommended Bitcoin, Coinbase Global, Inc., Ethereum and Solana. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The S&P/ASX 200 Index (ASX: XJO) is see-sawing today in what’s been a rather quiet day on the ASX as many states enjoy a public holiday.

After climbing by as much as 0.5% in morning trade, the ASX 200 has since given back these gains. At the time of writing, the ASX 200 has slipped 0.12% to sit at 6,466 points.

The S&P/ASX 300 Index (ASX: XKO) is more or less mirroring its larger index counterpart with a 0.17% fall.

But the same can’t be said for the Vanguard Australian Shares Index ETF (ASX: VAS). The VAS ETF aims to track the ASX 300 index, but it’s currently sporting a 1.5% decline.

Why is the Vanguard Australian ETF sliding today?

This underperformance can be explained by VAS going ex-dividend today.

Just like many ASX shares, the VAS ETF pays out dividends (also known as distributions) to investors.

After all, the VAS ETF provides exposure to companies in the ASX 300 index, and many of these companies pay dividends. So, the fund collects these dividends on behalf of investors and returns them on a quarterly basis.

Last week, Vanguard announced estimated distributions for its various ASX ETFs for the September quarter.

The cut-off date for these distributions is today, so any investors buying units in the VAS ETF won’t be eligible for the upcoming payments.

As a result, the VAS ETF is falling disproportionately to the market today as the value of the distribution leaves its unit price.

What’s the latest on the VAS ETF dividend?

This morning, Vanguard announced updated estimated distribution amounts for its funds.

As it stands, the VAS ETF is set to pay a distribution of 145.0577 cents to investors on 18 October. Investors wishing to participate in Vanguard’s distribution reinvestment plan (DRP) must elect to do so by 5pm tomorrow.

This latest distribution is slightly higher than VAS’ payment in last year’s September quarter, which came in at 140.7340 cents.

Including this latest distribution, the VAS ETF has declared total distributions of roughly $6.30 over the last 12 months. 

With units in VAS last changing hands at $80.40, this represents a trailing dividend yield of 7.8%. 

However, it’s important to note that this yield reflects what’s happened in the past. And as we’re often reminded, past performance is not a reliable indicator of future performance.

Dividends from ASX shares can swing wildly in any given year. And since the VAS ETF is exposed to around 300 of these shares, the swings in its distributions tend to be more pronounced. 

The VAS ETF has backpedalled by 16.14% in the year to date. In comparison, the ASX 300 index is showing a 13.53% fall.

The post Why is the Vanguard Australian Shares Index ETF lagging the market on Monday? appeared first on The Motley Fool Australia.

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More reading

• This ASX ETF was my first investment, and I’ll be holding it for the long term
• Is the Vanguard Australian Shares Index ETF (VAS) dividend growing?
• Why making your first purchase of ASX shares can be scary
• The Vanguard Australian Shares Index ETF just took a big hit. What happened?
• Why is the Vanguard ASX 300 ETF (VAS) so popular among investors?

Motley Fool contributor Cathryn Goh 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 Pilbara Minerals Ltd (ASX: PLS) share price has been running hot over some important timeframes, including beating the S&P/ASX 200 Materials Index (ASX: XMJ) by a significant margin over the past year.

Shares of the company are up:

• 38.75% year to date
• 128.87% over the past year, and
• 124.94% versus the materials sector over the past year

When shares rise quickly like this, some investors fear that they could be overvalued. This can cause some hesitancy for investors to buy them over the short term.

The Jefferies Group investment bank has taken a stab recently to answer the question of whether Pilbara’s shares have topped out in an article posted by the Australian Financial Review (AFR) last Thursday.

Let’s cover what the broker said.

Pilbara could have additional upside

Pilbara’s shares were rated as hold by Jefferies Group. Contrary to what some believe, a hold rating doesn’t necessarily mean that its shares are expected to flatline for the projected period. Instead, a hold rating generally means a company’s shares are expected to perform in step with companies in its peer universe. And with ASX lithium shares expected to rise across the board, Pilbara’s shares are also expected to lift higher.

This is further reflected in the fact that Jefferies gave Pilbara’s shares a price target of $4.75 each. That’s an appreciable upside of 7.4% at the time of writing.

Earlier this month, Macquarie gave Pilbara’s shares a price target of $5.60, representing a sizable upside of 26.6%. My Fool colleague James notes that analysts were impressed with its most recent battery material exchange auction results, receiving its highest ever bid of US$6,988 per dmt in September.

So with these recent ratings in mind, it appears that Pilbara’s shares could continue to rally to new heights, and might not have hit their ceiling just yet.

Pilbara share price snapshot

The Pilbara share price is down 2.96% this Monday afternoon.

Shares of the lithium producer currently trade for $4.43. Earlier today, shares made an intraday high of $4.59 and a low of $4.37.

The Pilbara share price is up 38.28% year to date.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 13.05% over the same period

The company’s market capitalisation is around 13.61 billion.

The post Is it possible the Pilbara Minerals share price has topped out? appeared first on The Motley Fool Australia.

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More reading

• These were the 3 best performing ASX lithium shares in September
• These were the 5 best-performing ASX All Ords shares in September
• These were the best performers on the ASX 200 in September
• Here are the big ASX lithium share winners and losers on Friday
• If I’d invested $1,000 in Pilbara Minerals shares at the start of 2022, here’s what I’d have now

Motley Fool contributor Matthew Farley 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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ASX lithium shares have been in the spotlight extensively over September, but which shares performed the best?

In this post, we’ve rounded up the three best performers for the month of September, with the prerequisite that they are traded on the ASX and have a market capitalisation of at least $100 million.

Let’s cover which ASX lithium shares beat their peers over the last month.

Global Lithium Resources Ltd (ASX: GL1)

Global Lithium was the biggest winner in September, gaining 26.31%. Shares opened for $1.71 on 1 September and closed for $2.16 at the end of the month.

Several developments helped keep Global Lithium’s share price buoyant, including signing a memorandum of understanding with battery manufacturer SK On Co on 29 September. My Fool colleague James notes that the memorandum will see the companies cooperate on developing downstream integrated battery-grade lithium assets, among other ventures.

Earlier in the month, the company gave a project update for its Marble Bar Lithium Project in Western Australia. High yields of lithium spodumene concentrate were announced at the site with high lithium recoveries.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara takes the silver medal for September, with its shares increasing 25.27% for the month. Shares opened for $3.64 on 1 September and ended at $4.56 when the month finished.

One standout development for Pilbara was the result of its lithium auction posted on 21 September. When the Fool reported the news, the company’s shares made a new all-time high of $5.03.

The company also received a record bid from the auction of US$6,988 per dmt. That’s up from the previous bids of US$6,188 per dmt in July and US$6,350 per dmt in August of this year.

Pilbara also received some positive coverage from brokers throughout the month. This included Wilsons making positive statements about the company on 26 September.

Wilsons is bullish on the expectations of Pilbara’s production increasing in the future, stating:

Spodumene production is expected to increase to ~1 million tonnes by FY28, up from 360 kilo tonnes in FY22.

Argosy Minerals Limited (ASX: AGY)

And finally, there’s Argosy Minerals, whose shares increased 24.69% in September. Shares opened for $0.405 on 1 September and closed for $0.505 at the end of the month.

Like other ASX lithium shares on this list, Argosy also had some positive developments to help end September with a substantial share price gain. This included an update for its Rincon Lithium Project in Argentina on 23 September. One highlight is that its rotary drilling program progressed better than expected, drilling to 350 metres at its PRP-03 production well and 253 metres at its PRP-04 well.

And on 13 September, the company was included in a roundup post of companies that engage in the production of graphite, which goes hand in hand with the demand for lithium as a critical element in the creation of batteries for electric vehicles, among other uses.

Argosy has a graphite project in Namibia, and production of the material is currently pending further review from the company while it considers funding opportunities.

How did other ASX lithium shares perform?

Below is a table of ASX lithium shares with a market cap of at least $100 million and their share price performance in September.

Ticker	September % change
RIO	-0.27
PLS	25.27
MIN	4.64
AKE	0.00
LTR	-12.35
SYA	-18.96
CXO	-20.21
DEG	9.47
INR	-1.55
LKE	-21.49
VUL	-9.31
AGY	24.69
NMT	-18.47
PLL	-5.61
GLN	-7.36
GL1	28.65
ASN	-18.05
LPI	-14.28
LRS	-19.99
LPD	-23.33
POS	-11.76
AVL	-26.08
JRL	-8.98
1MC	-16.00
NVA	-31.38
ESS	2.22
DEV	-26.19
EUR	-9.41

Below is a chart of this data in the table above.

The post These were the 3 best performing ASX lithium shares in September appeared first on The Motley Fool Australia.

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More reading

• These were the 5 best-performing ASX All Ords shares in September
• These were the best performers on the ASX 200 in September
• Here are the big ASX lithium share winners and losers on Friday
• If I’d invested $1,000 in Pilbara Minerals shares at the start of 2022, here’s what I’d have now
• Why Cogstate, Global Lithium, Premier, and Woodside shares are charging higher

Motley Fool contributor Matthew Farley 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

As her firm’s flagship fund, the ARK Innovation ETF, surged 148.7% during 2020, Cathie Wood rose to prominence as a widely followed voice in the investment community. Bets on major pandemic winners like Block, Teladoc, and Zoom paid off well but have since cooled off as a result of the current uncertain macroeconomic situation. Nonetheless, people pay a great deal of attention to what Wood says about stocks and investments. 

The renowned investor, whose firm focuses on disruptive and innovative companies, recently reiterated her bullishness on Bitcoin (CRYPTO: BTC) in particular. And investors should take notice. 

As bullish as ever 

At the recent SALT Conference in New York, where investment professionals and policy makers get together to discuss a host of topics like alternative investments, healthcare, and sustainability, Cathie Wood spoke on stage about her belief in the promise of cryptocurrencies and blockchain technology. And to be specific, she cited Bitcoin as a huge winner over the rest of the decade, once again expressing more confidence in her belief in the world’s most valuable cryptocurrency.   

Wood also talked about how Bitcoin and cryptocurrencies have started to behave more like growth tech stocks as a result of investors putting them all in the same bucket of risky assets. And the aggressive interest rate hikes by the Federal Reserve, to curb soaring inflation, has put downward pressure on their valuations. 

Bitcoin’s price drop of 59% in 2022 (as of this writing) might one day prove to be an extremely favorable buying opportunity for long-term investors, Wood believes. 

Bitcoin has massive upside 

Earlier this year, Ark Invest laid out the bullish case for Bitcoin in its Big Ideas 2022 report, which Wood spoke about at the SALT conference. The firm believes, according to its analysis, that Bitcoin’s price could exceed $1 million per coin by 2030. That’s quite a lofty target, but it hinges on Bitcoin achieving a certain level of penetration in eight different use-cases.  

If Bitcoin’s network captures half of the global remittance market, that’s $300 billion in value. If Bitcoin commands 10% of the money supply in emerging economies (excluding the four biggest countries) by 2030, that’s $2.8 trillion. And if 25% of settlement volume between U.S. banks shifts to Bitcoin, that would create another $3.8 trillion in value. 

Besides these three instances of actual utility, Ark sees Bitcoin becoming a mainstream asset for government treasury reserves, high-net-worth individuals, institutional investors, and corporate balance sheets at minor allocations. What’s more, Wood’s firm sees Bitcoin taking 50% of gold’s market cap by 2030. Add these scenarios up, and that’s another $21.6 trillion in value accruing to the Bitcoin network. 

Based on the crypto’s market cap of $375 billion as of this writing, Ark’s target valuation of $28.5 trillion would equal a more than 70-fold gain between now and the end of the decade. This incredible hypothetical performance would without a doubt beat the S&P 500‘s total return during the same time, and it would make those investors who closely follow Cathie Wood’s words rich.   

But putting your entire portfolio into Bitcoin would be a risky move, because the technology is still early in its adoption and development. Plus, it’s incredibly volatile. Therefore, it’s best to allocate to Bitcoin what you can afford to lose, say no more than 3% of your portfolio. By keeping the allocation that low, it will help investors sleep better at night. And if Bitcoin skyrockets, it will certainly have a major positive impact on the financial well-being of those who were bold enough to buy and hold over the years.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post One of the smartest investors says buy the dip on Bitcoin appeared first on The Motley Fool Australia.

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More reading

• Why buying Bitcoin might be the best investment right now: broker
• Here’s what one billionaire thinks about crypto right now
• Has the Bitcoin price found a floor?
• Why Bitcoin, Ethereum, and Solana moved higher on Tuesday
• Bitcoin price rallies 6% to leap back over US$20,000

Neil Patel has positions in Bitcoin, Block, Inc., and Teladoc Health. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Block, Inc., Teladoc Health, and Zoom Video Communications. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Zoom Video Communications. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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It’s a public holiday in many Australian states today, but that hasn’t stopped the ASX share market from opening.

Typically, the ASX only closes on national public holidays, such as Good Friday, ANZAC Day, and Christmas. 

So, you’re still able to buy and sell shares in your favourite ASX companies today.

But given it’s a public holiday in Queensland, New South Wales, ACT, and South Australia, we’re seeing reduced volume and trading activity as people make the most of their long weekend.

How are ASX shares performing today?

All three US benchmarks fell by around 1.5% on Friday, providing a negative lead for the ASX today.

But the S&P/ASX 200 Index (ASX: XJO) shrugged off this gloomy sentiment to rise by as much as 0.5% this morning.

These gains have since reversed, with the ASX 200 down 0.9% at the time of writing to sit at 6,418 points.

As has often been the case in recent months, the ASX tech sector is bearing the brunt of the fall. The S&P/ASX All Technology Index (ASX: XTX) has shed 2.5%.

Meanwhile, the communication services, consumer discretionary, and financials sectors have all dropped by around 1%.

Top ASX 200 risers and fallers

In early afternoon trade, the Iluka Resources Limited (ASX: ILU) share price is leading the way. It’s lit up by 2.1% despite there being no news from the mineral sands company.

BlueScope Steel Limited (ASX: BSL) is the next best ASX 200 performer, rising 1.4% against a backdrop of red-hot steel prices.

Rounding out the top three is Santos Ltd (ASX: STO), which has climbed 1.3% at the time of writing on the back of up swinging oil prices.

But while some ASX 200 shares buck the broader market weakness, there are many more in the red today.

The West African Resources Ltd (ASX: WAF) is currently at the back of the pack, tumbling 8.6% to 96 cents. The company released an operations update today in response to a change in the military leadership in Burkina Faso on the weekend.

The Core Lithium Ltd (ASX: CXO) share price is also feeling worse for wear, slumping 7.2% to $1.025. Core Lithium shares emerged from a trading halt today after the company completed a $100 million institutional placement at an offer price of $1.03.

The Chalice Mining Ltd (ASX: CHN) share price is also coming under pressure. It’s dropped 7.1% to currently sit at $3.65 despite there being no news out of Chalice today.

The post Yes, the ASX is open today, and here’s what’s happening appeared first on The Motley Fool Australia.

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More reading

• Why 5E Advanced Materials, Appen, Core Lithium, and Infomedia shares are dropping
• Why is the Core Lithium share price sinking 8% today?
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Here are the big ASX lithium share winners and losers on Friday

Motley Fool contributor Cathryn Goh 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 subdued fashion. In afternoon trade, the benchmark index is down 0.1% to 6,472 points.

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

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price has continued its slide and is down a further 18% to $1.67. Investors have been selling this minerals exploration and production company’s shares since the release of its results and the announcement of the surprise exit of its CEO last week.

Appen Ltd (ASX: APX)

The Appen share price is down 2% to $3.06. Appen’s shares have come under pressure over the last couple of trading sessions due to concerns over demand for its services. This follows a disappointing update out of one of its biggest customers, Meta.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 6% to $1.04. Investors have been selling this lithium miner’s shares after it completed its institutional placement. Core Lithium has raised $100 million before costs at a discount of $1.03 per new share. In other news, the company revealed that it has sold 15,000 dry metric tonnes (dmt) of spodumene via a digital auction. Demand for the spodumene DSO material was strong, which led to Core Lithium commanding a sale price of US$951/dmt.

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 6% to $1.10. This morning the auto industry software provider revealed that it has not received binding takeover offers from Solera Holdings or a consortium comprising TA Associates and Viburnum Funds by its deadline. As a result, it has closed the virtual data room to Solera and the consortium and requested that they destroy or return all confidential information.

The post Why 5E Advanced Materials, Appen, Core Lithium, and Infomedia shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Yes, the ASX is open today, and here’s what’s happening
• Why is the Core Lithium share price sinking 8% today?
• Here are the big ASX lithium share winners and losers on Friday
• Why has the Core Lithium share price just been halted?
• Why has the Appen share price just dropped to a new 5-year low?

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 Appen Ltd and Infomedia. The Motley Fool Australia has recommended Infomedia. 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 Mesoblast Limited (ASX: MSB) share price is surging today on the back of a product update.

Mesoblast shares are lifting 7.69% today and are currently trading at 84 cents. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.33% today.

Let’s take a look at what’s impacting the Mesoblast share price today.

Mesoblast share price rises on “major milestone”

Mesoblast is working on allogeneic cellular medicines for inflammatory diseases.

Investors appear to be buying up Mesoblast shares after the company provided an update on a US Food and Drug Administration (FDA) application.

Mesoblast supplied the FDA with “substantial new information” on the use of remestemcel-L to treat children with steroid-refractory acute graft versus host disease (SR-aGVHD).

This new information is in response to a Complete Response Letter (CRL) from the FDA received in September 2020.

Mesoblast said this is a “major milestone” in the company’s response to the FDA.

Commenting on the news, chief executive Dr Silviu Itescu said:

The submission summarizes controlled data providing further evidence of remestemcel-L’s ability to save lives.

Additionally, the improved process controls we have put in place to assure robust and consistent commercial product, together with a potency assay that predicts consistent survival outcomes, makes remestemcel-L a compelling treatment for these children.

Mesoblast share price snapshot

The Mesoblast share price has fallen 49% in the past year, while it has lost 40% in the year to date. In the last month, Mesoblast shares have shed more than 1%.

In comparison, the ASX 200 has shed 10% in the past year.

Mesoblast has a market capitalisation of more than $619 based on the current share price.

The post Why is the Mesoblast share price surging 8% on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why Mesoblast, Unibail-Rodamco-Westfield, Widgie Nickel, and Yancoal are rising
• This board member pulled the trigger on more Mesoblast shares
• Why has the Mesoblast share price marched 14% higher in 6 days?
• Looking to buy Mesoblast shares? Here’s the latest on where the ASX biotech is at with the FDA

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.3% to 6,454.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Mesoblast limited (ASX: MSB)

The Mesoblast share price is up almost 8% to 84 cents. Investors have been buying this biotech company’s shares after it confirmed the submission of substantial new information on clinical and potency assay items to the FDA. This is for items identified by the regulator for its remestemcel-L product in the treatment of children with steroid-refractory acute graft versus host disease.

Unibail-Rodamco-Westfield (ASX: URW)

The Unibail-Rodamco-Westfield share price is up over 4% to $3.20. This has been driven by news that the shopping centre operator has completed the sale of the Villeneuve 2 centre in the Lille region of France to Ceetrus. This means that the company has now completed 3.2 billion euros of disposals, representing 80% of its 4 billion euros European disposal programme.

Widgie Nickel Ltd (ASX: WIN)

The Widgie Nickel share price is up 28% to 30 cents. This follows the announcement of a major lithium discovery from the company’s Mt Edwards project. Management commented: “This initial reconnaissance work identifying high grade spodumene over a significant strike length couldn’t be a better outcome for Widgie.”

Yancoal Australia Ltd (ASX: YAL)

The Yancoal share price is up 2% to $5.78. This morning this coal miner announced that it will make a major debt repayment. Yancoal advised that it intends to prepay US$1.0 billion of debt from available cash on 4 October. This consists of payment toward Yancoal’s Syndicated Facility and its unsecured related-party loans. This is expected to deliver an approximate US$207 million reduction in total finance cost over the loan periods.

The post Why Mesoblast, Unibail-Rodamco-Westfield, Widgie Nickel, and Yancoal are rising appeared first on The Motley Fool Australia.

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More reading

• Why is the Mesoblast share price surging 8% on Monday?
• Guess which ASX mining share is rocketing 50% on a ‘high-grade’ lithium find
• ‘Willingness to pay a premium’: ASX coal shares boom again on Wednesday
• September living up to its ‘worst month of the year’ reputation as ASX 200 finally cracks
• Why are ASX 200 coal shares smashing it out of the park on Tuesday?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The CSL Limited (ASX: CSL) share price has gone through plenty of volatility in 2022, just like the S&P/ASX 200 Index (ASX: XJO). But what happened in September?

Shares in the biotech giant started the year at around $291 and are now sitting at just over $283. So, there has been a bit of a decline this year.

But market declines have gone further recently as investors get used to the higher interest rates as central banks try to tackle strong inflation.

How did the CSL share price perform in September?

Last month, CSL shares dropped by around 3%. Zoom in further and we see that between 8 September 2022 and the end of the month, they fell by approximately 5%.

How does this compare to the ASX 200? Let’s have a look.

In September, the ASX 200 declined by 7.3%. From 8 September 2022 to the end of the month, it dropped by 5.5%.

So that means that CSL outperformed the ASX 200 by 4% over the month of September.

For one of the ASX’s biggest companies (as measured by market capitalisation), that much outperformance in a short amount of time is useful for shareholders.

Why did it outperform?

Ultimately, it’s up to the buyers and sellers to decide what prices to transact at.

ASX healthcare shares can have a reputation for being defensive and having resilient earnings. It’s possible that CSL’s profit could stay robust, even during economic difficulties.

Another factor to consider is that CSL reports its financials in US dollars. The Australian dollar started September worth US 68 cents but by the end of the month, it had fallen to US 64 cents. Assuming it generates the same profit in US dollar terms, a lower Aussie dollar gives support to the CSL share price, which is valued in Australian dollars.

Investors may also be taking into account the guidance that the company gave when it released its FY22 result. The guidance can influence investor thoughts about the CSL share price.

CSL said that it had a “strong mid-term outlook” as COVID receded, and a “promising cluster” of research and development programs that were nearing completion.

The company said that it was expecting “strong” plasma collections, though the higher cost of plasma was continuing. It’s rebuilding inventory to strengthen resilience.

In its vaccine business, CSL said that there was ongoing northern hemisphere demand for flu vaccines and it expected continued growth from product differentiation.

But, CSL did acknowledge it was continuing to navigate a “challenging external cost environment”.

Excluding the impact of the Vifor acquisition, the company expected to generate net profit after tax (NPAT) of between US$2.4 billion to US$2.5 billion in FY23. That compares to FY22 net profit of US$2.25 billion. Profit, and expectations of profit, can have a big impact on the CSL share price.

The post Did CSL shares manage to generate healthy returns in September? appeared first on The Motley Fool Australia.

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More reading

• CSL share price jumps despite JP Morgan’s latest caution
• When might the CSL share price top $300 again?
• Move over gold: Could ASX 200 healthcare shares be the new ‘safe-haven’ investments?
• Experts name 2 star blue chip ASX 200 shares to buy now
• ‘Long term view’: Expert names 2 punished ASX shares with ‘bright outlook’

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