Category: Stock Market

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) continued its winning streak and pushed higher again. The benchmark index rose 0.3% to 7,127.7 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to snap its winning streak on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. On Wall Street, the Dow Jones fell 0.5%, the S&P 500 dropped 0.7%, and the NASDAQ tumbled 1.25% lower. Overnight, the US Fed minutes revealed that interest rate hikes are likely to continue until inflation eases substantially.

Treasury Wine full year results

The Treasury Wine Estates Ltd (ASX: TWE) share price will be one to watch on Thursday. This morning the wine giant is scheduled to release its full year results for FY 2022. According to a note out of Citi, it expects the company to deliver a net profit after tax of $314.2 million. This is broadly in line with the market consensus estimate.

Oil prices rebound

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a better day on Thursday after oil prices rebounded on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.4% to US$87.72 a barrel and the Brent crude oil price is up 1% to US$93.30 a barrel. Traders were buying oil after US crude stockpiles fell.

Pro Medicus results

The Pro Medicus Limited (ASX: PME) share price will be on watch when the health imaging company releases its full year results. According to a note out of Bell Potter, its analysts are expecting revenue of $92 million, EBITDA of $65.7 million, and a net profit after tax of $44.9 million. The latter represents a 48% increase year over year.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.6% to US$1,779.30 an ounce. Gold dropped for a third consecutive session following the release of minutes from the US Federal Reserve’s meeting.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• The A2 Milk share price has climbed 10% so far this month. What’s going on?
• Here’s how much the Vanguard Australian Shares Index ETF (VAS) has paid in dividends over the past 5 years
• Why did the Novonix share price nosedive 6% today?
• Here are the top 10 ASX 200 shares today
• Looking to buy IAG shares but worried about where the growth will come from? Read this

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 Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Treasury Wine Estates 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 A2 Milk Company Ltd (ASX: A2M) has been frothing up a storm in August, shooting up 10%.

The company’s shares closed on Wednesday at $4.98 apiece after starting the month at $4.54.

So why has the A2 Milk share price been climbing lately?

The US opportunity

It seems its peer Bubs Australia Ltd (ASX: BUB) has regenerated excitement in the milk formula businesses after securing a major supply deal in the US and posting a stellar quarter for June 2022.

However, A2 Milk hasn’t experienced the same success. It has actually hit a bit of a roadblock in its bid for access to the US market, as outlined by my colleague Sebastian Bowen.

On 12 August, the US Food and Drug Administration (FDA) advised it had to defer further consideration for an enforcement discretion to import infant milk formula products into the United States.

According to the Sydney Morning Herald, another A2 Milk competitor Bellamy’s gained FDA approval shortly after Bubs.

Despite the hold up, A2 Milk CEO David Bortolussi remains confident. Bortolussi told the SMH the company had the relationships necessary on the ground to handle distribution and made the following comment:

Feedback from our US team on the ground is that the infant milk formula crisis has not been solved, with significant retail out-of-stock issues continuing across the country.

If Bortolussi’s optimism comes to fruition, a major contract in the US will act as a significant growth driver for the A2 Milk share price.

Another competitor considers ASX listing

The Australian Financial Review recently reported that another infant formula company Care A2 Plus is preparing for an ASX listing.

Care A2 Plus produces infant and toddler formula using single-sourced milk from Australian grass-fed A2 cows in Victoria. Unlike A2 Milk, it managed to gain approval from the FDA in early July to supply millions of tins to retailers short of supply.

The company advised the AFR that its first orders for Care A2+ Premium Infant Formula with iron were due to ship to the US in August.

Dominic Galati is the founder of Care A2 Plus and a former SBS executive.

Its chairman Walter Bugno said the company has more than 300 shareholders, including Chemist Warehouse.

A2 milk share price snapshot

The A2 Milk share price looks horrid across the last 12 months, falling 25% but the recent US shortage has driven it higher.

Across the same period, the S&P/ASX 200 Index (ASX: XJO) dropped 5% and like A2 Milk, it rallied with a 7% jump in the last month.

Given the roadblock and the potential listing of a competitor, which is already supplying to the US, it’s quite curious to see the A2 Milk share price climbing of late.

The post The A2 Milk share price has climbed 10% so far this month. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Here’s how much the Vanguard Australian Shares Index ETF (VAS) has paid in dividends over the past 5 years
• Why did the Novonix share price nosedive 6% today?
• Here are the top 10 ASX 200 shares today
• Looking to buy IAG shares but worried about where the growth will come from? Read this
• Here’s why the Nickel Industries share price is climbing on Wednesday

Motley Fool contributor Raymond Jang 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 A2 Milk and BUBS AUST FPO. 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 Vanguard Australian Shares Index ETF (ASX: VAS) doesn’t hold the mantle of the most popular exchange-traded fund (ETF) on the ASX for nothing.

There’s little doubt that this ETF’s unique structure in being the only fund to track the S&P/ASX 300 Index (ASX: XKO) rather than the more popular S&P/ASX 200 Index (ASX: XJO), plays a role here. As does the brand reputation of (the famously not-for-profit) Vanguard.

But dividend distributions surely play a role here too.

After all, the ASX share market has a well-earned reputation as a bountiful source of dividend income. Thus, an index fund that tracks ASX shares will, by definition, reflect this. Just consider the VAS ETF’s top holdings.

Big four banks like Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) dominate VAS’ weighting, as does the dividend machine that is BHP Group Ltd (ASX: BHP).

But let’s take a deeper dive and look at the numbers.

Five years of VAS dividend distributions

So VAS pays out dividend distributions every quarter. Here’s a summary of those payments over the past five years:

Date (quarter ending)	VAS Distribution (cents per unit)
30 June 2022	215.95
31 March 2022	199.59
31 December 2021	69.65
30 September 2021	140.73
30 June 2021	55.64
31 March 2021	77
31 December 2020	43.42
30 September 2020	56.84
30 June 2020	20.6
31 March 2020	67.27
31 December 2019	72.14
30 September 2019	107.1
30 June 2019	82.14
31 March 2019	91.59
31 December 2018	71.06
30 September 2018	112.74
30 June 2018	101.73
31 March 2018	66.53
31 December 2017	68.1
30 September 2017	100.88

If any reader would like a more concise version of this data, here it is:

• For the 12 months ending 30 June 2022, VAS paid out $6.26 in distributions per unit.
• For the 12 months to 30 June 2021, it was $2.33 per unit.
• The 12 months to June 30 2020 saw a total of $2.67 per unit.
• For the 12 months to 30 June 2019, it was a sum of $3.58 per unit.
• The 12 months to 30 June 2018 had VAS pay out $3.37 in distributions per unit.

Why so bumpy?

So what is immediately obvious is the massive dividend distribution haul investors have enjoyed over the past 12 months compared to prior years. This probably comes down to a couple of factors.

Firstly, the past 12 months have seen many ASX shares, especially the big four banks, raise their dividends to well above what was being paid out during the worst months and years of the pandemic.

Secondly, since ending its London dual-listing earlier this year and rehoming to the ASX in full, BHP now enjoys a far greater weighting in the ASX 300 Index than it used to.

As such, index ETFs like VAS now hold far more BHP shares, which is currently one of the most generous dividend-paying shares on the market, as a proportion of its overall portfolio today.

So that’s a summary of VAS’s dividend distribution history over the past five years. The most recent four distributions give this ETF a trailing yield of 7.07%.

The post Here’s how much the Vanguard Australian Shares Index ETF (VAS) has paid in dividends over the past 5 years appeared first on The Motley Fool Australia.

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More reading

• Why did the Novonix share price nosedive 6% today?
• Here are the top 10 ASX 200 shares today
• Looking to buy IAG shares but worried about where the growth will come from? Read this
• Here’s why the Nickel Industries share price is climbing on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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 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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The Corporate Travel Management Ltd (ASX: CTD) share price dropped 2.5% after the ASX travel share reported its FY22 result today.

As one of the world’s largest corporate travel businesses, it is highly aligned to the recovery of business travel.

But, despite positive commentary, investors weren’t impressed by what the business told the market overall.

What did the company report?

It revealed that total transaction value (TTV) increased 215% to $5.07 billion in FY22, with the fourth quarter showing $1.8 billion of TTV.

FY22 revenue rose 94% year over year. It generated $17.5 million of underlying net profit after tax (NPAT), which was a major improvement from the $32.3 million loss in FY21. According to reporting by The Australian, this is better than what the market and the broker RBC was expecting.

The broker thought the commentary about the fourth quarter of FY22 was “strong” and that demand looks “strong” too.

In a sign of future profit generation, it generated $20.5 million of underlying NPAT in the fourth quarter of FY22.

It even declared a dividend of 5 cents per share. The ASX travel share didn’t pay anything in FY21.

Investors like to look ahead

The Corporate Travel share price is usually forward-looking. In other words, the FY22 result is interesting, but what FY23 looks like (and beyond) is usually more important for investors.

In terms of what could have caused the decline of the business today, management noted that the travel industry has resourcing challenges.

It is facing “unprecedented resourcing shortfalls with corresponding challenges to service levels, airport and airline capacity”.

The company added 950 new employees during FY22 as part of its commitment to maintaining service levels to support customer travel needs.

It has engaged in several initiatives to manage this shortfall, including “innovative employee recruitment, training, onboarding and retention initiatives to attract and retain the business talent in the industry.”

The business is also focusing on delivering improved internal efficiency, by implementing advanced automation and new technologies across its operations, giving employees more time to deliver personalised customer service. Growing scale and technology investments are helping with productivity gains and the revenue per full time equivalent employee, which was 14% higher in the fourth quarter of FY22 compared to the FY19 average.

Trading update and demand

Corporate Travel said that revenue in June 2022 equated to 74% of the monthly average pro-forma revenue for FY19. It said that forward bookings for September are “strong”.

In a global customer survey, conducted in May 2022, around 80% of respondents said that they expect to travel “as much or more” in the coming 12 months as they did before the pandemic.

Corporate Travel is assuming a full recovery in FY24, based on projections for travel activity. This would be revenue of $810 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of $265 million based on synergies and productivity improvements.

The recovery is not expected to be a straight line due to capacity constraints and Greater China’s current travel restrictions. But things are expected to progressively improve during FY23.

The post Corporate Travel share price slides despite earnings beat appeared first on The Motley Fool Australia.

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More reading

• Corporate Travel Management share price in focus as dividends return
• Here are the top 10 ASX 200 shares today
• Brokers just rated these 2 ASX shares as buys for August
• Top brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today

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 recommended Corporate Travel Management 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 Magellan Financial Group Ltd (ASX: MFG) share price is hurting today. It’s down 5.87% after the business reported its FY22 result to investors. But, it’s still up 22% over the past month.

Magellan is one of Australia’s largest fund managers. But, it’s now quite a lot smaller after the business suffered a major loss of funds under management (FUM) during the financial year.

Investors turned negative on the business as its investment funds underperformed compared to the global share market index. People and institutions pulled out billions of dollars of FUM during the year.

Adjusted net profit before tax dropped 12% to $515.2 million. The total dividend of $1.79 per share was a reduction of 15%.

Over the financial year, FUM plunged from $113.9 billion to $61.3 billion. Negative investment performance was the cause of $2.3 billion of negative movement. The $49.5 billion of negative net flows was the key reason for the decline.

Should investors get out?

According to The Australian reporting, one “veteran trader” says the business is “a basket case” and thinks “investors should get out while they can”. However, any interests in Magellan shares were not disclosed within the article.

The latest monthly update for FUM, being July, showed a drop in FUM to $60.2 billion, down from $61.3 billion at the end of June.

Committed to rebuild

The Australian reported that Magellan is “committed to rebuilding trust among clients and shareholders.” It quoted Magellan chair Hamish McLennan who said:

Our number one priority is to deliver on our clients’ objectives, which in turn will provide the foundation for revenue growth and returns for shareholders over the long-term.

We recognise that the global equities strategy has underperformed relative to the market over the past 18 months and that we must do better.

The new CEO and managing director, David George, said he will share his thoughts with shareholders in October.

But, George did indicate that the current investment landscape is a volatile and difficult one, which should “reward outstanding fundamental company research and active management of portfolios”. He went on to say:

Magellan remains an asset manager of scale, with considerable underlying financial strength and great potential. The strength of Magellan’s balance sheet provides us with significant headroom to invest in our business to deliver our clients and position ourselves for future growth.

During the year, Magellan’s total of cash, financial assets and investments in associates increased 7% to $963.3 million. It has no debt either.

Magellan said its focus is on its core funds management business, strengthening processes and driving consistent and improved investment performance. It’s “determined to rebuild value for clients and shareholders”.

The fund manager revealed that based on the FUM of $60.2 billion at 29 July 2022, retail fees make up 68% of the base fees, even though retail money only represents 38% of the FUM. If retail FUM proves to be more ‘sticky’ than institutional money, then this could be a positive mix.

Foolish takeaway

I did recently sell my own Magellan shares.

After the loss of FUM, FY23 profit is likely to fall again because of the loss of revenue. I recently wrote the following in my previous Magellan article:

The key thing for Magellan is to start generating some good performance in its key investment funds over longer time periods again. With relatively high fees, what will attract/retain funds if the investment fund is underperforming against its benchmark consistently?

Will the dividend and FUM keep falling? It’s really hard to say. But going for a declining business is not the type of investment I normally like to make.

The post Should Magellan shareholders ‘get out while they can’? appeared first on The Motley Fool Australia.

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More reading

• Why CSL, Downer, Magellan, and PointsBet shares are falling today
• Magellan share price in freefall despite 44% rise in profits
• Is the Magellan share price caught in a death spiral?
• What’s $1 billion between friends? Magellan share price shrugs off latest FUM figures
• Is the Magellan share price a buy for its big dividend yield?

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 Lifestyle Communities Limited (ASX: LIC) share price finished 0.23% higher today after the property developer and manager released its FY22 full-year results.

Lifestyle Communities develops and manages independent living residential land lease communities for senior citizens across Victoria. Lifestyle’s properties target retirees, semi-retirees, and working downsizers with plenty of recreational facilities and entertainment on site.

The Lifestyle Communities share price opened at $17.50 today, up 0.8% on yesterday’s close of $17.36. It then fell to an intraday low of $16.91 before rebounding again to close at $17.40.

Let’s take a look at the results.

Lifestyle Communities share price fluctuates after results released

The highlights of the results are as follows:

• Net profit after tax (NPAT) of $88.9 million, down 2.4% on the prior corresponding period (pcp)
• Underlying profit after tax of $61.4 million, up 69% pcp
• Total assets worth $1,006.2 million, up from $781.3 million pcp
• Net debt of $243.1 million, up from $187.7 million pcp
• Annuity income of $40.6 million, up 25% pcp
• 401 new home settlements, up 57% pcp
• 3,193 homes currently under management
• Final dividend of 6 cents per share payable on 6 October.

What else happened in FY22?

Lifestyle Communities said its annuity income increased due to a higher number of settlements and homes under management.

The annuity income included gross rental income of $29.7 million and deferred management income (DMF) of $10.9 million on resales.

The company also said increased property valuations lifted its statutory profit after tax to $89.9 million.

Over the 12 months, Lifestyle Communities acquired four sites, including the Phillip Island site in August 2021 and the Merrifield site in Mickleham in November 2021.

These acquisitions have put more than 2,150 new homes into the development pipeline. Managing director James Kelly says this will “underpin our continued growth for the next three to five years”.

Lifestyle now has more than 4,500 homeowners living in 19 operating communities across Melbourne and regional areas of Victoria.

Lifestyle Communities increased its dividend payment in FY22 by more than 30%, paying a total of 10.5 cents per share. The company paid 8 cents per share in FY21.

What did management say?

Kelly said FY22 had been challenging, mainly due to COVID-19 lockdowns:

To say this year was an unusual one for the business is an understatement.

Lockdowns for the first four months of the year were followed by a large upswing in demand through the Christmas/New Year periods as pent-up demand and a ‘life is short’ sentiment coming out of lockdown saw strong sales and increasing desire to free up equity through downsizing.

We continue to see new land acquisition opportunities come to market and are well funded to continue to purchase high quality sites that meet our investment criteria.

What’s next?

Lifestyle Communities plans to launch seven new sites for development and sale in FY23. This will take the total number of sites at various stages of development to 11 by FY25.

The company plans to deliver between 1,400 and 1,700 new home settlements between FY23 and FY25.

Lifestyle Bellarine will be the next site that Lifestyle takes to market in September 2022.

Share price summary

In FY22, the Lifestyle Communities share price hit a 52-week high of $23.85 in October 2021.

It then fell in line with the broader S&P/ASX All Ordinaries Index (ASX: XAO) until reaching a 52-week low of $11.34. The shares have since rebounded along with the rest of the market.

Overall, the Lifestyle Communities share price is down 16.2% over the year to date. This compares to a 5% fall in the All Ords.

Lifestyle Communities has a market capitalisation of approximately $1.81 billion.

The post Lifestyle Communities share price seesaws on FY22 results after ‘unusual’ year appeared first on The Motley Fool Australia.

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More reading

• Top analysts say investors should buy these quality ASX shares
• Goldman Sachs names 2 ASX shares as conviction buys

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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The Mineral Resources Limited (ASX: MIN) share price has leapt 40% in the past month.

After reaching a low of $43.37 on 15 July, the miner’s shares sharply continued to rebound in the following weeks.

At market close today, Mineral Resources shares finished trading up 0.08% at $60.52.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 7.90% over the same time frame.

Let’s take a closer look and see what’s been boosting Minerals Resources shares lately.

What’s been lifting the Mineral Resources share price?

It appears that investors are buying up the Mineral Resources share price as confidence in the market is regaining momentum.

After Goldman Sachs released a report forecasting a severe drop in lithium prices in the near term, the sector tumbled.

This led to a number of popular lithium shares erasing their meteoric gains achieved in 2022.

However, since then, lithium prices have maintained posture with investors shrugging off the bearish sentiment.

Also, providing a major boost is the recent quarterly report from Mineral Resources which highlighted record production volumes for FY22.

The news sent the company’s shares flying 9.04% on the day to finish at $53.21.

And if that wasn’t enough, two prominent brokers revised their outlook on the miner’s shares.

Analysts at Bell Potter raised its price target by 8.2% to $75.75 per share for Mineral Resources. Based on the current price, this implies an upside of around 24%.

On the other hand, Macquarie also took the liberty of adjusting its price target by 4% to a bullish $85 per share. This represents an upside of almost 40% from where it trades today.

How have Mineral Resources shares performed in 2022?

After a choppy 8 months, the Mineral Resources share price has returned an 8% gain to investors.

In comparison, the S&P/ASX 200 Resources Index (ASX: XJR) is down 4% over the same period.

On valuation grounds, Mineral Resources presides a market capitalisation of roughly $11.46 billion.

The post Why has the Mineral Resources share price surged 40% in a month? appeared first on The Motley Fool Australia.

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More reading

• Do any ASX lithium shares pay dividends?
• Analysts name 2 ASX dividend shares to buy next week
• Buy this ASX share for its ‘undervalued’ lithium business: expert
• Top brokers name 3 ASX shares to buy next week
• Brokers name 3 ASX shares to buy today

Motley Fool contributor Aaron Teboneras 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 Novonix Ltd (ASX: NVX) share price closed lower on Wednesday despite no news coming from the company in the last month.

Shares of the battery materials tech company finished at $2.74 each, 6.49% lower than yesterday’s closing price of $2.93.

By comparison, the S&P/ASX 200 Information Technology Index (ASX: XIJ) closed 0.27% higher while the S&P/ASX 200 Industrials Index (ASX: XNJ) finished 1% ahead.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) gained 0.31% today.

Let’s look at the performance of Novonix against some of its peers today.

Why did the Novonix share price plummet today?

The Novonix share price was sold off considerably this afternoon.

It wasn’t alone though. Lake Resources NL (ASX: LKE), Vulcan Energy Resources Limited (ASX: VUL), and Core Lithium Limited (ASX: CXO) also closed well in the red today. The companies lost 5.6%, 4.93%, and 4.03%, respectively.

It was a tough day generally for ASX lithium shares today despite lithium carbonate prices holding steady, according to Trading Economics.

Today’s fall sees the Novonix share price down 74% year to date and 51% over the last six months.

Its long-term trend is more positive, though, with the company’s shares yielding a gain of more than 225% in the last five years.

The benchmark index is currently down 6% year to date and up 24% over the last five years.

The post Why did the Novonix share price nosedive 6% today? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Looking to buy IAG shares but worried about where the growth will come from? Read this
• Here’s why the Nickel Industries share price is climbing on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• How much have Medibank shares paid in dividends over the past 5 years?

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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S&P/ASX 200 Index (ASX: XJO) shares posted another strong performance on Wednesday despite a wobbly morning’s trade. The index ended the day 0.31% higher at 7,127.70 points, marking its highest close since early June.

Consumer shares were the real winners in today’s session with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) and the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) gaining 1.7% and 1.4%, respectively. Their gains followed a strong session for retailers on Wall Street and earnings from Super Retail Group Ltd (ASX: SUL).

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) weighed on the market, slumping 0.6% amid falling oil prices and earnings from energy giant Santos Ltd (ASX: STO).

Crude oils hit six-month lows overnight, with the Brent crude price falling 2.9% to US$92.34 a barrel ­– its lowest point since February – while the US Nymex crude price lost 3.2% to hit US$86.53 a barrel – its lowest since January.

At the end of the day, seven of the ASX 200’s 11 sectors closed in the green. But which share outperformed all others to be crowned today’s top performer? Let’s take a look.

Top 10 ASX 200 shares countdown

The top performing ASX 200 share on Wednesday was annuities provider Challenger Ltd (ASX: CGF).

It posed a recovery after tumbling on the back of its earnings, released to the market yesterday, helped along by broker upgrades.

Learn more about the company and what it’s been up to lately here.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Challenger Ltd (ASX: CGF)	$6.76	5.63%
Brambles Limited (ASX: BXB)	$12.40	5.08%
City Chic Collective Ltd (ASX: CCX)	$2.44	4.72%
Super Retail Group Ltd (ASX: SUL)	$10.70	4.7%
New Hope Corporation Limited (ASX: NHC)	$4.57	4.34%
Reece Ltd (ASX: REH)	$16.35	3.55%
Reliance Worldwide Corporation Ltd (ASX: RWC)	$4.65	3.33%
Pendal Group Ltd (ASX: PDL)	$5.02	3.08%
Metcash Limited (ASX: MTS)	$4.24	2.91%
Zip Co Ltd (ASX: ZIP)	$1.075	2.87%

Our top 10 ASX 200 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

• Why did the Novonix share price nosedive 6% today?
• Looking to buy IAG shares but worried about where the growth will come from? Read this
• Here’s why the Nickel Industries share price is climbing on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Brambles, Challenger, Nearmap, and Super Retail shares are rising 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 Reliance Worldwide Corporation Limited, Super Retail Group Limited, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Challenger Limited and Reliance Worldwide 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 Adore Beauty Group Ltd (ASX: ABY) share price is not looking all too glamorous on Wednesday.

At the close, shares in the online cosmetics and skincare retailer were 12% worse compared to yesterday. As a result, the company is now sporting a share price of $1.94, giving Adore a market capitalisation of $182.6 million.

So, what’s driving this less-than-glowing performance today?

Clearing the air on the Adore Beauty share price

What a world of difference 24 hours can make. Yesterday, shares in Adore Beauty were on fire, skyrocketing more than 30%. This was in addition to several extremely strong trading sessions leading up to Tuesday.

As a result, the Australian Securities Exchange issued the company with a speeding ticket — prompting an explanation for the swift upwards move. Fast forward to today and we have our supposed answer to the sudden euphoria.

According to the release, Adore said it was aware of Temple & Webster Group Ltd (ASX: TPW) experiencing a 29.7% glow-up amid the release of its FY22 annual results.

Furthermore, the company referenced our coverage yesterday of Adore. The article referenced was titled Why is the Adore Beauty share price rocketing 19% on Tuesday?. Adore Beauty points out this article discussed the outsized performance of both Temple & Webster and the Adore Beauty share price on Tuesday.

However, Adore highlighted that it was not aware of whether or not Temple & Webster’s results had any influence on its own share price. The company also noted it was unaware of future buying or selling intentions of a recent substantial shareholder, Woodson Funds.

Looking back

The recent rebound in value has acted as a reprieve to an otherwise painful year. Since the start of 2022, the seller of makeup and skincare products has endured a steady dismantling of value.

While the S&P/ASX 200 Index (ASX: XJO) is 6% in the red year-to-date, Adore is 52% underwater. This is even after a near 90% bounce back in the Adore Beauty share price.

The post Adore Beauty share price slips 12% following ASX speeding ticket appeared first on The Motley Fool Australia.

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More reading

• Why BHP, Life360, Tassal, and Temple & Webster shares are charging higher
• Why is the Adore Beauty share price rocketing 19% on Tuesday?
• The BHP share price now trades on a fully franked dividend yield of 11%
• Temple & Webster share price soars 21% on revenue lift
• Adore Beauty share price volatile following CEO resignation

Motley Fool contributor Mitchell Lawler 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 Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited and Temple & Webster Group 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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