Category: Stock Market

The NIB Holdings Limited (ASX: NHF) share price is in reverse today following a morbid day on the ASX.

Shares in the private health insurer are down 1.11% to $7.11.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.72% lower at around 7,020 points.

Adding to its misfortune, the NIB share price is trailing behind its rival, Medibank Private Ltd (ASX: MPL). The latter’s shares are down just 0.43% to $3.465 apiece.

Let’s take a look at what could be causing this discrepancy between shares in the two companies.

NIB backtracks as Medibank makes policy changes

The NIB share price appears to be suffering at the hands of a broader fall across the ASX.

However, its competitor, Medibank, is largely shrugging off the sell-off following news that it has extended its policy coverage.

According to The Australian, Medibank and its subsidiary ahm are entending the age of adult dependants on their parents’ policy from 25 to 31.

As of next Thursday, young adults up to the age of 31 will be able make claims on their parents’ extras and hospital cover.

The decision to adjust the policy is to help alleviate financial stress as the cost of living has risen sharply.

Medibank is hoping to retain younger Aussies as recent data has shown that this demographic is steadily dropping off private health cover.

When the young adults do turn 31, the lifetime health cover loading (LHC) will kick in. This is where an annual 2% loading penalty is applied to private hospital premiums for every year you do not have cover.

It is worth noting that the LHC only relates to hospital insurance policies.

Whether or not NIB will quickly follow suit remains to be seen.

The company covers adult children up to the age of 25 if they are full-time students or on extended family policies at an extra cost.

NIB share price summary

In 2022, the NIB share price has moved in circles on the back of inflationary pressure and volatility on the ASX.

The company’s shares are relatively flat for the period, but down 7% when looking at the past 12 months.

Based on today’s price, NIB commands a market capitalisation of roughly $3.30 billion.

The post Is this why the NIB share price is lagging Medibank on Friday? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• ASX shares are rallying! Here’s what to do now: experts
• Down 20% since March, is this ASX 200 share a misunderstood investment opportunity?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Aaron Teboneras has positions in NIB Holdings Limited. 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 NIB Holdings 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 Resmed CDI (ASX: RMD) share price is down around 3.5% at $33.42 in afternoon trading. This comes after the US-based sleep apnoea medical device company released its full-year results to the ASX this morning.

As my colleague James wrote, ResMed Inc (NYSE: RMD) booked a 12% increase in revenue year over year to US$3.6 billion. It finished the year with an underlying net profit of US$850.8 million, up 9% on FY21.

Revenue and profits up

As James points out, ResMed’s underlying net profit was slightly above market consensus expectations of US$825.6 million.

A recall by competitor Royal Philips in June 2021 provided a revenue boost for ResMed in FY22.

Management estimates that US$60 million to US$70 million in incremental fourth-quarter revenue was related to the recall. That implies an annual total of US$220 million to US$260 million.

Inflation started to bite in FY22, with higher freight and manufacturing costs impacting margins.

Over FY22, the Resmed share price slipped by about 7%.

Resmed dividends up

ResMed declared a final quarterly cash dividend of 44 US cents, up 5% on the prior corresponding period. But that’s what ResMed Inc shareholders (owners of the NYSE-listed shares) will get. It’s different for ASX shareholders, who own Resmed CDI shares.

Remember ResMed is a US-domiciled company listed on the New York Stock Exchange. The Resmed shares listed on the ASX are CHESS depositary interests (CDIs) which “confer a beneficial interest in the underlying financial product to which it relates”, explains the ASX.

This beneficial interest is on a ratio of 10:1 for owners of the ASX shares. So, Resmed CDI shareholders will receive 4.4 US cents per share as dividends. This currently converts to 6.2 cents in Australian currency. The payment date is 22 September.

So, why is the Resmed share price down?

The company exceeded consensus profit expectations, and it’s going to pay a higher dividend this year. So why is the Resmed share price down?

Well, the dip might not have anything to do with investors’ reactions to the results. The market as a whole is down today.

The S&P/ASX 200 Index (ASX: XJO) is off 0.73% and the S&P/ASX 200 Health Care Index (ASX: XHJ) is down 1.81%.

In fact, health care is the second worst performing sector today behind the S&P/ASX 200 A-REIT Index (ASX: XPJ), which is down 1.87%. The only sectors in the green are energy and communications.

So, it might simply be a case of the Resmed share price being dragged down, along with many other ASX healthcare shares, by the broader sector and market today.

The post Resmed share price dips despite profit and dividend boost appeared first on The Motley Fool Australia.

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More reading

• Why Baby Bunting, PointsBet, ResMed, and Suncorp shares are dropping today
• ResMed share price on watch following solid FY22 growth
• 5 things to watch on the ASX 200 on Friday
• $20,000 invested in these ASX shares 10 years ago is worth how much now?
• Brokers name 3 ASX shares to buy today

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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 end the week with a decline. At the time of writing, the benchmark index is down 0.7% to 7,020.1 points.

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

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is down 4% to $4.66. This follows the release of the baby products retailer’s full year results. Baby Bunting reported an 8.3% increase in sales to $507.3 million and a 14.6% lift in net profit after tax to $19.4 million. The latter falls short of the consensus estimate of $25.2 million.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is down 6% to $3.57 despite there being no news out of the sports betting company. However, it is worth noting that the tech sector is a sea of red today following a poor night of trade on the NASDAQ index. This has seen the S&P/ASX All Technology Index drop by 1.5% this afternoon.

ResMed Inc (ASX: RMD)

The ResMed share price is down 3.5% to $33.38. Investors have been selling this sleep treatment company’s shares following the release of its full year results. This is despite Goldman Sachs noting that its fourth quarter “Revenue [was] in-line; earnings +4% ahead.” For the full year, ResMed reported a 12% (13% in constant currency) increase in revenue to US$3.6 billion and a 9% lift in non-GAAP net income to US$850.8 million.

Suncorp Group Ltd (ASX: SUN)

The Suncorp share price is down 3.5% to $11.18. Today’s decline has been driven by the insurance giant’s shares trading ex-dividend this morning for its upcoming final dividend. Eligible shareholders can now look forward to receiving its 17 cents per share fully franked dividend next month on 21 September.

The post Why Baby Bunting, PointsBet, ResMed, and Suncorp shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Resmed share price dips despite profit and dividend boost
• Why is the Suncorp share price slipping today?
• ‘Our future is looking bright’: Baby Bunting share price slips despite earnings milestone
• ResMed share price on watch following solid FY22 growth
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd and ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended Baby Bunting and Pointsbet Holdings 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 Enero Group Ltd (ASX: EGG) share price is gaining significant ground today following the release of a positive earnings report for FY22 this morning. 

At the time of writing, Enero shares are up 7.14% to $3.30 apiece.

The global marketing group reported revenue and bottom line profitability growth in its operating segments.

Value from the growth of these segments was transferred to its balance sheet, adding a large amount of cash and boosting net assets.

The outlook for FY23 is also positive, focusing on improving its existing book of business and realising synergy with its recently acquired companies.

What did Enero report?

Investors are pushing up the Enero share price on the back of a strong full-year result for FY22. Highlights include:

• Net revenue up 20.4% from FY21 to $193.4 million
• Operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 36.4% from FY21 to $62.2 million
• Operating EBITDA margin up 380bps to 32.2%
• Earnings per share (EPS) up 17% to 30.9 cents

Enero reported strong EBITDA and net revenue growth for both its brand transformation and creative technology operating segments.

Net revenue for brand transformation increased by 11.3% to $106.7 million, while operating EBITDA increased by 13.6% to $24.2 million.

Net revenue for creative technology and data had a larger percentage increase of 34%, growing to $86.7 million. Operating EBITDA was also higher, with a 52.8% increase to $48.6 million.

The company also announced a dividend per share of 12.5 cents, which was down from 14.9 cents in FY21.

What else happened?

Enero strengthened its balance sheet, adding $48 million in cash to it in FY22. Net assets also grew 14.93% to $155.3 million. 

By adding digital transformation services to its product mix, Enero estimates it has a $1.2 trillion new addressable market, up from $488 billion through offering solely marketing services.

A fully franked final dividend of 6.5 cents was announced, which is a 48% increase on FY21’s final dividend. The dividend has a record date of September 20 and a payment date of October 4 this year.

What did management say?

Commenting on the results which have helped push up the Enero share price today, CEO Brent Scrimshaw said:

Throughout FY22 our global portfolio of innovative brands and services delivered strong operating results, continuing our trajectory of sustainable growth in revenue and earnings over the past five years.

In line with our operational strategy, Enero’s revenue base is now highly diversified across segments, industries, and clients.

What’s next?

Enero’s priorities for FY23 include improving its existing book of business and developing a focus on environmental, social, and corporate governance.

Enero said it would also integrate its most recent acquisitions into the business. Companies ROI DNA Inc, a B2B sales & marketing agency, and GetIT Ltd, a B2B technology marketing agency, were acquired at the start of July this year.

A focus on driving efficiency was also cited as a priority. This will reportedly be achieved through new processes and improved cost management.

Enero share price snapshot

The Enero share price has increased by 10% over the past 12 months.

Shares in the company are beating the S&P/ASX 200 Communication Services Index (ASX: XTJ) by a wide margin — it’s currently down 3% over the last year.

Enero has a market capitalisation of $274.78 million.

The post Enero share price jumps 7% as earnings rocket appeared first on The Motley Fool Australia.

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More reading

• Why 5E Advanced Materials, IAG, Magnis, and Woodside shares are pushing higher
• Origin share price dips amid fresh climate pressure from shareholders
• Everything you need to know about the latest IAG dividend
• Why are ASX coal shares having such a stellar end to the week?
• The CBA share price has been making big news this week. What can ASX 200 investors expect next?

Motley Fool contributor Mtthew 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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The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. In afternoon trade, the benchmark index is down 0.7% to 7,020.1 points.

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

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price is up 18% to $2.60. This morning the boron and lithium explorer announced that it has entered into an agreement with Bluescape Energy Partners. The US investor will buy $60 million of secured convertible notes. 5E Advanced Materials also advised that the construction of a small-scale boron facility is on schedule for completion in the final quarter of this year.

Insurance Australia Group Ltd (ASX: IAG)

The IAG share price is up 1% to $4.66. Investors have been buying this insurance giant’s shares after responding positively to its full year results release. IAG reported a net profit after tax of $347 million for the 12 months ended 30 June. This was up from a $427 million loss in the prior corresponding period.

Magnis Energy Technologies Ltd (ASX: MNS)

The Magnis share price is up 29% to 47 cents. This morning the energy technology company announced that commercial production is underway at its lithium-ion battery plant in New York. Magnis plans to produce several thousand lithium-ion cells in the next month for quality assurance before increasing annual production levels to 1GWh by the end of 2023.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 2.5% to $32.43. Investors have been buying Woodside and other energy shares today after the IEA increased its demand growth forecasts. This has led to the S&P/ASX 200 Energy index rising by over 1.7% this afternoon despite the market decline.

The post Why 5E Advanced Materials, IAG, Magnis, and Woodside shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Everything you need to know about the latest IAG dividend
• Here’s why the 5E Advanced Materials share price just rocketed 20%
• Magnis share price rockets 36% on New York lithium battery plan
• IAG share price lifts despite mixed FY22 earnings results
• IAG share price on watch as company reports $347 million in earnings

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 Insurance Australia Group 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 Origin Energy Ltd (ASX: ORG) share price is in the red alongside the broader market as a shareholder advocacy organisation calls for the company to include climate risks in its financial statements.

The Australasian Centre for Corporate Responsibility (ACCR) has filed to put such disclosures to a shareholder vote at the company’s October annual general meeting (AGM).

The Origin share price is currently trading 1.32% lower than its previous close at $5.99.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has slipped 0.7%. The S&P/ASX 200 Utilities Index (ASX: XUJ) has also fallen 0.7%.

Let’s take a closer look at what the shareholder organisation is asking of the energy producer and retailer.

Shareholders ask Origin to put climate front and centre

The Origin share price is sliding amid news the ACCR is fighting to force the company to put climate sensitivity analysis front and centre from the financial year 2023.

ACCR lead analyst Alex Hillman said climate change presented a “material risk” to the company and therefore “firmly belongs in audited financial statements”.

“This is not a radical request,” Hillman said. “Australian regulators have been expecting this since 2018.”

Origin has already suffered significant impairments due to climate transition risks at Eraring, which has led to the early closure of the asset.

In a 1.5°C scenario, which Origin states that it supports unequivocally, its exploration assets in the Beetaloo, Canning, and Cooper basins would likely be rendered worthless.

ACCR lead analyst Alex Hillman

Origin announced it intends to close the Eraring coal-fired power station in 2025 earlier this year. That’s seven years earlier than previously planned.

The station supplies around a fifth of New South Wales’ power, my Fool colleague Mitch reported at the time.

Similar actions to those proposed by the ACCR were asked of oil giants Chevron and Exxon earlier this year. They received support from 38.7% and 51% of their respective shareholders.

Origin acknowledged the ACCR’s filing today. It said it would release its board’s recommendation on the resolution in September.

The activist organisation represents around 0.01% of Origin’s share registry.

Origin share price snapshot

Despite today’s slip, the Origin share price has outperformed in 2022 so far.

The stock has gained 12% since the start of the year. It’s also trading 39% higher than it was this time last year.

Meanwhile, the ASX 200 has slipped around 7% year to date and the same amount over the last 12 months.

The post Origin share price dips amid fresh climate pressure from shareholders appeared first on The Motley Fool Australia.

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More reading

• ‘Massive untapped demand’: The $3 trillion opportunity ASX 200 energy shares could be missing
• ‘Alarming’: ASX 200 energy shares lift despite increasing government pressure over supply outlook
• ‘Extraordinarily challenging quarter’: Origin share price lifts despite $2.2b write down

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 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 Insurance Australia Group Ltd (ASX: IAG) share price is in the green following the company’s FY 2022 results today.

At the time of writing, IAG shares are nudging 0.76% higher to $4.645 while the S&P/ASX 200 Index (ASX: XJO) heads south.

The ASX 200 benchmark index is down by 0.73% after a choppy session on Wall Street overnight.

Let’s take a look at how the company performed for the period and the details surrounding its latest dividend.

How did IAG perform in FY22?

For the 12 months ending 30 June 2022, IAG reported a mixed bag across key financial metrics.

In summary, gross written premium (GWP) lifted by 5.7% to $13.31 billion over the previous corresponding period. This was primarily driven by an improved underlying business performance despite challenging an external environment due to natural perils claims and volatile investment markets.

The underlying insurance margin stood at 14.6% compared to 14.7% in FY21. This was affected by positive benefits from COVID impacts on motor frequency and negative timing impact from increasing risk-free interest rates.

Overall, net profit after tax (NPAT) jumped to $347 million, compared to a loss of $427 million in the prior year.

And the dividend?

Based on IAG’s cash earnings of $213 million, the IAG Board declared a 70% franked final dividend of 5 cents per share. This represents a 62% decline from the unfranked 13 cents declared in the prior comparable period.

The full year dividend equates to a payout ratio of 78.1% of cash earnings. This is within the top end range of the company’s dividend policy to distribute between 60% to 80% of its cash earnings.

When can IAG shareholders expect payment?

The IAG dividend will be paid to eligible shareholders next month on 22 September.

However, to be eligible, you’ll need to own IAG shares before the ex-dividend date which falls on 18 August. This means if you want to secure the dividend, you will need to purchase IAG shares next Wednesday at the latest.

In addition, the company has a dividend reinvestment plan (DRP), with the last date to opt in by 22 August.

The issue price per share will be the average market price between 29 August and 2 September.

There is no discount that will be applied to those who participate in the DRP.

The post Everything you need to know about the latest IAG dividend appeared first on The Motley Fool Australia.

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More reading

• IAG share price lifts despite mixed FY22 earnings results
• IAG share price on watch as company reports $347 million in earnings
• 5 things to watch on the ASX 200 on Friday
• IAG share price seesaws amid class action news
• Looking for value: The ASX shares this fundie is holding amid rising inflation

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 positions in and has recommended Insurance Australia Group 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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S&P/ASX 200 Index (ASX: XJO) coal shares are firing up again today despite the broader market hovering in negative territory.

At the time of writing, the ASX 200 is down 0.8% following a choppy session on Wall Street overnight.

This follows yesterday’s short-lived rally across global markets on the back of the US’ upbeat inflation report.

However, some ASX 200 coal shares are steaming ahead on Friday, leading to stellar gains for the week.

Which shares are making gains?

The Stanmore Resources Ltd (ASX: SMR) share price is up 11.14% during afternoon trade to $2.245.

The Australian resources company released its half-year results before market open, exciting investors. Its shares are up 30% since this time last week.

Meanwhile, the Whitehaven Coal Ltd (ASX: WHC) share price is currently up 3.72% to a decade high of $6.70.

The coal producer has had a fantastic year due to favourable external forces pushing up demand for the commodity. Its shares are 13% higher for the week.

Lastly, the New Hope Corporation Limited (ASX: NHC) share price is also pushing upwards despite no company announcements.

The diversified energy company’s shares are currently swapping hands for $4.39 apiece, up 3.29%. It’s up 12% this week and nearing its multi-year high of $4.58.

Let’s take a look at what’s behind the ASX 200 coal shares’ strong performance.

What’s fuelling these ASX 200 coal shares lately?

Giving rise to these ASX 200 coal shares this week is the recent warning from steel manufacturing giant, Tata Steel.

The company’s CEO T.V. Narendran highlighted a possible supply shortage if Australia does not increase coal production.

He noted that Indian steel consumption or production is going to double in the next 10 years. This provides a lucrative opportunity for Australia to take advantage and ramp up its exports of coking coal to India.

However, if this fails, the alternative is to buy Russian coal regardless of the ongoing war in Ukraine.

In addition, expectations that China could soon welcome back Australian coal exports are also providing support.

According to Trading Economics, the price of coal is currently trading at US$401 per tonne, up 0.59% from yesterday.

When looking at year-on-year, coal prices are up 134%, which isn’t far off from the record high of $435 per tonne.

The post Why are ASX coal shares having such a stellar end to the week? appeared first on The Motley Fool Australia.

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More reading

• ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year
• Why did the Whitehaven Coal share price just hit an 11-year high?
• Here are the top 10 ASX 200 shares today
• ASX coal shares in the spotlight amid fresh supply warnings
• Here’s the Whitehaven Coal dividend forecast through to 2024

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 Commonwealth Bank of Australia (ASX: CBA) share price is down 1.11% in afternoon trade.

CBA shares closed yesterday at $100.85 and are currently trading for $99.73.

While the S&P/ASX 200 Index (ASX: XJO) is also in the red, down 0.79%, CBA is the only one of the big four banks losing ground at the time of writing.

CommBank was all over the news this week as the big bank reported its results for the 2022 financial year (FY22) on Wednesday morning.

What results did CommBank report?

The CBA share price closed 0.3% lower on Wednesday, despite reporting some strong figures for FY22.

On the plus side was an 11% increase in cash earnings, which hit $9.60 billion for the 12 months. Net profit after tax (NPAT) of $10.77 billion increased 6% year-on-year. And the big bank didn’t disappoint on dividends, declaring a fully franked final dividend of $2.10 per share.

On the negative side, a likely reason for the CBA share price being lower was a 0.18% year on year decrease in the bank’s net interest margin (NIM) to 1.9%. That was largely due to lower home loan margins and increased funding costs.

What can ASX investors expect next for the CBA share price?

So, that’s the year gone by.

As for what ASX investors can expect next, Russel Chesler, head of investments and capital markets at VanEck, said declining dwelling prices are likely to impact the CBA share price.

Chesler noted the big bank is the most exposed of any of its peers to an Aussie property slowdown.

According to Chesler (quoted by The Australian):

CBA continues to trade at a premium to the other big banks and is arguably overvalued. We do not believe that the trading premium is sustainable in the long term and at some point CBA will be re-rated…

Those households that are not so strong are going to be the ones that come under pressure with such a rapid increase in interest rates and inflation. Ultimately this will have an effect on mortgage loan serviceability and loan default rates. We do not believe these risks are fully factored into the CBA share price…

We expect the level of non-performing home loans to rise with the slowdown in the property market given the relatively large size of mortgages in Australia.

UBS has also scaled back its forecasts for the CBA share price and the bank’s earnings per share (EPS) outlook.

According to analyst John Storey (courtesy of the Australian Financial Review), EPS estimates were reduced to $5.61 from the previous $5.79 “driven by costs,” despite “higher net interest margin and volume assumptions”.

UBS, which has a neutral rating on CBA, reported a new 12-month target for the CBA share price of $101, down from $105.

CBA share price snapshot

Despite coming under some selling pressure this week, the CBA share price has still handily outperformed the ASX 200 in 2022.

Year-to-date, CBA shares are down 2.6% compared to a 7.2% loss posted by the benchmark index.

The post The CBA share price has been making big news this week. What can ASX 200 investors expect next? appeared first on The Motley Fool Australia.

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More reading

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• What does CommBank’s latest update mean for NAB shares?
• Is the CBA share price a buy after the bank’s FY22 results?
• Does this signify more bad news for ASX BNPL shares like Zip?
• The CBA share price looks downright expensive

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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It’s proving to be a rather flat end to the trading week for the All Ordinaries Index (ASX: XAO) so far this Friday. At the time of writing, the All Ords has lost a meaty 0.62% and is back down to around 7,280 points.

But this gloom is certainly not extending to all corners of the share market. In fact, there are a few ASX All Ords shares that are knocking up new 52-week highs today. Let’s go through some of them.

3 ASX All Ords shares hitting new 52-week highs today

NRW Holdings Limited (ASX: NWH)

Mining construction company NRW is our first All Ords share to check out today. This company has had a pretty pleasing day of trading so far this Friday. it’s presently up a healthy 0.88% at $2.28 but rose as high as $2.30 earlier this afternoon. That is NRW’s new 52-week high.

Now we haven’t gotten any fresh news out of the company that might explain this new high. But NRW has been on the rise ever since reporting its results for the 2022 financial year back on 4 August. This included a guidance upgrade, so it’s not hard to see why investors are excited.

Pacific Current Group Ltd (ASX: PAC)

Fund manager advisory company Pacific Current Group is next up. This All Ords share has had an even better trading session so far today. The Pacific Current share price is currently up a pleasing 5.93% at $8.58 a share.

But we saw this share price rise even more enthusiastically this morning, going as high as $8.77 – the new 52-week high. It’s hard to see what might be sparking this rise, since there is again no fresh news out from Pacific Current since 29 July.

GR Engineering Services Ltd (ASX: GNG)

GR Engineering is our final ASX All Ords share to check out today. This company is… well, it’s all in the name really. It provides engineering services mainly to the mining and construction industries. GR Engineering shares are currently up a robust 1.72% at $2.36 a share.

But we saw this share climb as high as $2.39 this morning, which is, you guessed it, the company’s new 52-week high. No new announcements out here either, but this seems to be an extension of the incredible run GR Engineering has been on since late June.

Since 28 June, the company has gained close to 40%. That coincides with that is evidently a well-received guidance update for the 2022 financial year.

The post 3 ASX All Ordinaries shares celebrating Friday with new 52-week highs appeared first on The Motley Fool Australia.

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More reading

• Why did the Pure Hydrogen share price pop 21% today?
• Could this development further energise ASX lithium shares in FY23?
• Why is the Sayona Mining share price surging 15% on Monday?
• These 3 ASX tech shares had a cracking day on the ASX today
• NRW share price leaps 11% on guidance upgrade for FY22

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

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