Category: Stock Market

ASX coal shares are on a rollercoaster as a new Queensland tax is adding to the volatility brought on by surging coal prices and climate concerns.

But there’s one ASX coal company that’s standing apart from its peers today — that’s Bowen Coking Coal Ltd (ASX: BCB). Its share price rocketed 21.43% to close at 25.5 cents today.

The gain is in contrast to fellow Queensland coal miners that are reeling from the shock news that the Palaszczuk government is hiking coal royalty rates.

ASX coal miners getting burnt in Queensland

The South32 Ltd (ASX: S32) share price tumbled 1.7% to $4.09 while the Whitehaven Coal Ltd (ASX: WHC) share price lost 1.67% to close at $4.70. Both have coal operations in Queensland.

But that is also true for the Bowen Coking with its flagship project in Queensland’s Bowen Basin.

New Hope for the Bowen Coking share price

Having said that, the project is still some way away from shipping its first coal. Bowen Coking announced yesterday that it had secured a US$55 million debt facility to fast-track its Burton Mine.

The facility, provided by Taurus Mining Finance Fund No. 2, will primarily be for the rebuilding of the Burton infrastructure.

Further, the company signed a A$70 million secured performance bonding facility agreement with New Hope Corporation Limited (ASX: NHC), with an additional A$40 million via convertible notes.

The total funding of around A$190 million will enable the ASX small cap miner to complete the acquisition of 90% of the Lenton Joint Venture (JV). The JV owns the Lenton Project and the Burton Mine.

ASX coal miners up in arms

South32 and Whitehaven are less fortunate as they will feel the impact of the royalty hike announced on Tuesday.

Royalties could go up as much as 40% when ASX coal miners receive more than $300 a tonne for their coal.

Coal miners in Queensland have been scathing of the state government’s decision which, they say, was implemented without industry consultation.

Windfall tax rattles industry

The higher royalty regime has three tiers. The first is a 20% tax for prices above $175 a tonne, then 30% above $225 a tonne, and 40% when it’s more than $300 a tonne.

The windfall tax could reap the Queensland government an extra $4.5 billion in the next three months alone if current spot prices are maintained.

ASX oil and gas shares will also be watching nervously. There’s debate about whether they too should be hit with extra taxes due to the surging prices of their commodities.

Is this a bullish sign for coal?

But it isn’t all bad news for coal miners. Last year’s power crisis in China due to a shortage of coal could repeat this year.

The Asian giant is trying to cap coal prices to avoid power blackouts this summer, according to reports by the Australian Financial Review. This is in response to surging demand and a lack of supply.

As we discovered the previous time Beijing tried that, price caps don’t work. If anything, this could be a signal for ASX coal share bulls to keep betting on the sector.

Meantime, Queensland premier Annastacia Palaszczuk will likely be rubbing her hands in glee.

The post Down 40% Tuesday, up 21% today, what’s going on with this ASX coal share? appeared first on The Motley Fool Australia.

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More reading

• How big will the South32 dividend be in 2023?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why Bowen Coking Coal, Lake Resources, Premier, and ResApp shares are tumbling lower
• Why are ASX 200 coal shares having such a smoking session today?
• Are these coal miners shaping up to be underrated ASX dividend shares?

Motley Fool contributor Brendon Lau has positions in South32 Ltd. 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 been a big week for the BrainChip Holdings Ltd (ASX: BRN) share price this week. On Monday, BrainChip shares officially joined the S&P/ASX 200 Index (ASX: XJO).

The ASX 200 is of course the flagship index covering ASX shares. It represents the largest 200 companies on the ASX, weighted by market capitalisation. But an ASX share’s market cap changes every trading day (i.e. when its share price moves). As such, the index has to be continually rebalanced to ensure that it accurately reflects the ASX’s largest 200 companies.

The index provider S&P Global does this rebalancing every three months. And the latest rebalance took effect on Monday after being announced back on 3 June.

So yes, this was when BrainChip shares joined the ASX 200, alongside other ASX 200 newcomers like Lake Resources N.L. (ASX: LKE) and Core Lithium Ltd (ASX: CXO). These companies took the place of shares like Appen Ltd (ASX: APX) and Polynovo Ltd (ASX: PNV), which were kicked out of the ASX 200.

Conventionally, joining an index like the ASX 200 is viewed as a potentially positive catalyst for a company’s share price for a number of reasons. But has this been the case for Brainchip?

How has BrainChip’s first week as an ASX 200 share been?

It’s going well so far. Upon joining the ASX 200 on Monday, the BrainChip share price lifted. It ended its first day as an ASX 200 share up 1.1% at 92 cents. 

But since then, BrainChip shares have drifted lower. They just closed at 89 cents each, down 3.26% on yesterday’s close. So overall, BrainChip has lost ground since becoming a member of the ASX 200 index.

But this is a company that routinely gives investors spades of volatility. The BrainChip share price has now lost almost 30% over the past month alone. But even so, it remains up more than 35% over the past six months, and up close to 70% over the past year. 

At the company’s closing share price of 89 cents today, BrainChip shares have a market capitalisation of $1.57 billion. 

The post How has the BrainChip share price performed since joining the ASX 200? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why ASX-listed property shares could be on the chopping block
• How attractive is the Santos dividend right now?
• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment
• Has 2022 proven Woolworths is a defensive ASX share?

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 positions in and has recommended Appen Ltd and POLYNOVO FPO. 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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Owners of Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares may want to know how the big four S&P/ASX 200 Index (ASX: XJO) bank share is planning to get ahead of rivals with technology.

There is a lot of competition in the space. Not only are there the other big four ASX banks like Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB) and Commonwealth Bank of Australia (ASX: CBA), but there are other challengers as well. Bank of Queensland Limited (ASX: BOQ) and Macquarie Group Ltd (ASX: MQG) are two other competitors.

But, ANZ is hoping to win customers while doing nothing. It’s putting effort and money towards upgrading its technology.

Maile Carnegie, group executive of ANZ’s Australian retail, wrote in a recent blog post:

While a rising interest rate environment will provide a temporary reprieve for banks, in the longer-term other trends will have more bearing on returns.

Those trends include intense competition in the lending market place, rising regulatory and compliance costs and capital overlays. We don’t see any sudden lessening in competition, quite the opposite. And it’s also unlikely we’ll suddenly be able to cut our regulatory and compliance costs.

Technology focus

ANZ is trying to improve its offering to customers by improving its speed of product to market, such as getting home loans to customers more quickly.

The big four ASX 200 bank share has been trying to simplify processes and “make it more friendly” for customers. The bank has had to fundamentally rebuild itself with its ‘ANZx’ program.

Carnegie said:

The ANZ Plus platform we launched recently is a result of that rebuild and is about providing better, faster, cheaper and more effective controls for this business as well as keeping pace with what our customers need.

We decided to rebuild half a century of systems technology and processes rather than wallpapering over the cracks. We did this because we knew tacking on automated controls to legacy systems just wasn’t going to work. It required a different solution.

The rebuild of the underlying technology is now complete and we are starting to see the rebuild of the customer applications that sit on top, starting with ANZ Plus savings and transaction accounts.

ANZ is expecting to be able to give customers more features and functionality in the coming weeks, followed by other offerings, including home loans. The big four bank plans to have beta testing for loans in late 2022.

The ASX 200 bank share thinks the new offering and underlying technology will help customers.

Latest view on the bank

One of the most recent opinions has come from Morgan Stanley. It reduced its ANZ share price target to $24.30, with a rating of ‘equal-weight’, which is like a hold rating.

The broker noted that ANZ’s net interest margin (NIM) could rise as the RBA increases interest rates. However, it could cause problems for the loan book in terms of arrears.

The post How ANZ plans to fend off competition from other ASX 200 bank shares with fresh tech appeared first on The Motley Fool Australia.

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More reading

• Worried about a US recession? Here’s what the ASX 200 banks are forecasting
• How does the Macquarie dividend stack up against the ASX big four banks?
• The ANZ share price has tumbled 24% from its 2022 high. Is it time to pounce?
• Why are ASX 200 bank shares having such a cracking start to the week?
• Experts rate these ASX 200 blue chip shares as buys

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 Macquarie Group Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking for growth shares to buy, then you may want to consider the two listed below that brokers are bullish on.

Here’s what you need to know about these growth shares:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is a leading appliance manufacturer behind a range of brands.

It has been growing at a solid rate over the last decade and this is expected to continue in FY 2022. In fact, a recent presentation reveals that Breville expects its earnings before interest and tax (EBIT) in FY 2022 “to be consistent with the markets’ consensus forecast of ~$156m.” This will be a 14.3% increase from FY 2021’s EBIT of $136.4 million.

Morgans is a fan of Breville and believes it is well-placed for strong growth in the coming years.

In our opinion, BRG deserves to trade at a premium multiple. It is positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched. Our rating remains ADD.

The broker currently has an add rating and $32.00 price target on its shares.

Nitro Software Ltd (ASX: NTO)

Another ASX growth share that analysts rate highly is Nitro. It is a technology company that provides businesses of all size with integrated PDF productivity and eSignature tools.

Its shares have been hit hard this year due to weakness in the tech sector, which has been felt hardest among loss-making companies. And while Nitro is still some way from being profitable, it has a strong balance sheet.

Goldman Sachs is bullish due to Nitro’s long term growth potential. It commented:

We appreciate that a material re-rate likely requires a change in sentiment towards unprofitable tech companies, however we think NTO screens attractively relative to tech peers and on a longer-term view. Our focus now shifts to NTO’s execution on its pipeline of new business and e-sign cross-sell opportunities, with concerns over balance sheet now eased. We see NTO as an attractive long-term growth opportunity at a discounted valuation.

The broker currently has a buy rating and $2.35 price target on the company’s shares.

The post Experts have named these top growth shares as buys appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• 2 ASX tech shares Goldman Sachs rates as buys
• Top brokers name 3 ASX shares to buy next week
• Down 20% in a month, is the Breville share price a bargain buy or a falling knife?
• Brokers name 2 exciting small cap ASX shares to buy with 80%+ upside

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 recommended Nitro Software 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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Are you looking to make some additions to your portfolio? If exchange traded funds (ETFs) are of interest to you, then you may want to look at the three listed below.

Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first ETF for ASX investors to look at is the BetaShares Global Cybersecurity ETF. This ETF gives investors exposure to the leading companies in the growing cybersecurity sector. This includes companies such as Accenture, Cisco, Cloudflare, Fortinet, Okta, Splunk, Zscaler, Crowdstrike.

With cyberattacks continuing to grow as more infrastructure shifts online, demand for cybersecurity services has been increasing strongly. The good news is that this trend is expected to continue in the future, which puts these companies in a strong position for growth.

BetaShares Global Energy Companies ETF (ASX: FUEL)

Another ETF to for ASX investors look at is the BetaShares Global Energy Companies ETF. This ETF provides investors with access to a group of global energy companies. Among the 50+ shares included in the fund are energy giants such as BP, Chevron, ExxonMobil, and Royal Dutch Shell.

Given how high oil prices are at the moment due to supply issues, these shares look well-placed to deliver bumper profits and dividends in the near term. The ETF also currently trades with a 3.5% trailing dividend yield.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A final ETF for investors to look at is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors exposure to the largest companies involved in video game development and hardware. This includes Activision Blizzard, AMD, Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two.

VanEck believes that these companies are well-placed to benefit from the increasing popularity of video games and eSports. This could make the ETF a top long term option for investors.

The post 3 highly rated ETFs for ASX investors to buy now appeared first on The Motley Fool Australia.

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More reading

• Down 23% since mid-April, is the HACK ETF a golden opportunity?
• 2 popular ETFs for ASX investors to buy next week
• 3 high quality ETFs for ASX investors to buy now
• I think these 2 ASX shares are buys in this volatility
• 3 popular ETFs for ASX investors to buy now

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 BETA CYBER ETF UNITS and BetaShares Global Energy Companies ETF – Currency Hedged. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Crypto investors take note.

The 2022 financial year is fast drawing to a close.

And the Australian Tax Office (ATO) is well aware that ever more Australians bought and sold Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and a wide range of other altcoins over the past 12 months.

The ATO recently revealed it would be paying special attention to capital gains realised from crypto sales.

As posted on the ATO website, “If you are involved in acquiring or disposing of cryptocurrency, you need to be aware of the tax consequences. These vary depending on the nature of your circumstances.”

As circumstances can and do vary widely, we asked Lee Daniels, market analyst at CoinSpot, what investors might not know about crypto tax in Australia.

Crypto is viewed as an asset subject to capital gains taxes

“Like shares or property, crypto is viewed as an asset. Every time you sell, swap, spend or gift crypto, it counts as a capital gains event”, Daniels told The Motley Fool.

As the name implies, you need to pay a capital gains tax (CGT) if you’ve gained money by selling Bitcoin, an altcoin, or a non-fungible token (NFT) during the financial year. That gain represents your selling price minus your buying price.

However, that won’t apply if you’re holding onto your digital assets. “If you have held your crypto, even if the value has increased, you will not need to pay CGT,” Daniels said.

And there are exemptions to be aware of:

When paying CGT, there are exemptions that may apply, including using crypto to purchase goods or services. Donating crypto to a registered charity is also not considered a capital gains event. You can even claim the amount on your tax return.

Keep track of your holding period

A second handy tip Daniels shared was to be sure to note how long you’ve held your crypto before selling or spending it.

“If you hold crypto for over 12 months, you will only pay tax on 50% of your capital gain,” he said.

Importantly, that 50% discount won’t apply to traders.

According to Daniels:

One key thing that crypto holders should consider is whether they are an investor or a trader. The ATO differentiates between the two. And how you handle your taxes can entirely depend on which classification you fall under.

Put simply, an investor is someone who is primarily buying and selling digital assets for personal investment using personal funds.

A trader is someone whose primary cryptocurrency activities revolve around business income. Therefore, a trader’s profits or losses may be subject to the relevant type of income tax, rather than capital gains tax.

Lost money on your crypto investments, pay less tax

Digital assets have come under tremendous pressure this calendar year amid fast rising interest rates. In fact, you have to go back to December 2020 to find Bitcoin, the top token by market cap, trading for less than it is today.

Which could mean you can write off some of that pain via a capital loss.

“A capital loss is when the value of your crypto is worth less at the time it is sold than when you bought it,” Daniel said. “Capital losses can offset capital gains either in the same financial year or in subsequent financial years.”

If you made a $5,000 profit selling Bitcoin early in the year but lost $5,000 in a later transaction, you wouldn’t owe any tax.

“If your coins have been lost or stolen, you may also be able to claim a capital loss,” Daniels added.

Trading within digital assets

Some investors and traders steer entirely clear of fiat currencies like the Aussie dollar and trade entirely via digital tokens.

But this won’t get you off the hook with any potential taxes owed.

According to Daniels:

Although trading from crypto-to-crypto means any profit you made has not involved Australian dollars, CGT still applies.

When trading crypto-to-crypto, you are receiving an asset rather than money. In this case, you will need to keep track of all of your trades to calculate any capital gains or losses for your tax return.

Don’t ignore those NFT sales

NFTs have soared in popularity over the past year. And if you’ve sold some of this digital artwork for a gain, the ATO wants to know about it.

“Generally, the same rules apply for NFTs as crypto when it comes to income tax,” Daniels said.

He explained:

An income tax treatment depends on whether you use the NFT as part of a business, as a personal asset or as a capital asset of a business. If you are buying and selling a large volume of NFTs, you may be considered to be operating as a business.

If you purchase an NFT as part of your overall investment portfolio, then the ensuing sale of that NFT will likely count towards your CGT. If you hold an NFT for at least 12 months, then the 50% general CGT discount is also available to you.

The post The ATO is collecting crypto taxes. Here are 5 handy expert tips come tax time appeared first on The Motley Fool Australia.

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More reading

• These 3 cryptos are feeling the Elon Musk effect today
• What to expect from the Bitcoin price following last week’s thrashing
• Is Solana the next Bitcoin?
• Can Ethereum reach $5,000?
• The key driver behind the recovery in Bitcoin, Ethereum, and Solana today

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 positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. 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 Core Lithium Ltd (ASX: CXO) share price has been one of the worst performers on the ASX 200 on Wednesday.

In afternoon trade, the lithium developer’s shares are down 14% to 86.5 cents.

Why is the Core Lithium share price being hammered?

The selldown of the Core LIthium share price has been driven by broad weakness in the lithium industry today, which is being felt hardest among developers rather than producers.

For example, lithium developer, Lake Resources N.L. (ASX: LKE), which also joined the ASX 200 this week with Core Lithium, is down materially today along with Argosy Minerals Limited (ASX: AGY), Liontown Resources Limited (ASX: LTR), and Sayona Mining Ltd (ASX: SYA).

What’s behind the weakness?

Investors appear to have been selling lithium shares on Wednesday amid news that Germany is planning to defy the European Union by backtracking on future plans to ban internal combustion engine (ICE) cars.

The Financial Times reports that Germany’s finance minister, Christian Lindner, has rejected plans for the ban on the sale of new petrol and diesel cars by 2035. This could have a major impact on the number of electric vehicles on European roads in 2035, especially if other countries follow its lead.

Less electric vehicles mean less demand for the lithium that goes into their batteries. And given that there are already concerns floating around about increasing supply of the battery making material, this may not bode well for long term lithium prices.

Though, a lot can certainly change between now and then.

The post Why is the Core Lithium share price down 14%? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Is this why ASX lithium shares are being crushed today?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why is the Core Lithium share price slipping today?
• Here are the 3 most heavily traded ASX 200 shares on Monday

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

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The S&P/ASX 200 Index (ASX: XJO) has had a rather topsy-turvy day of trading so far this Wednesday. At the time of writing, the ASX 200 has fallen back into negative territory, after initially gaining this morning and is now down by 0.19% at around 6,511 points.

But let’s delve deeper into these market gyrations and take a look at the shares presently topping the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Pilbara Minerals Ltd (ASX: PLS)

Our first cab off the rank today is ASX 200 lithium stock Pilbara Minerals. So far today, a hefty 14.8 million Pilbara shares have changed owners. There’s been no major news or announcements out of Pilbara today.

In saying that, this company’s share price has been bouncing around a fair bit. Pilbara shares are currently down by 2.12% at $2.075 a share. It’s probably this selloff that has prompted the high trading volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Pilbara’s fellow ASX 200 lithium stock Core Lithium is next up today. It’s Core Lithium’s first week as an ASX 200 member this week. But that hasn’t saved this company from having a rough time. Core Lithium shares have been whacked again today.

The company has slid a nasty 14% so far today and is now at 86.5 cents a share. This latest move means Core Lithium is now down by close to a third over just the past week alone. With a 14% drop today, it’s perhaps no wonder that 42.67 million Core Lithium shares have been bought and sold today.

Lake Resources N.L. (ASX: LKE)

It’s three for three for ASX lithium stocks on today’s list. Yes, lithium hopeful Lake Resources is our third, final, and most traded ASX 200 share today, with a whopping 100.12 million shares finding a new home. Once again, it seems a share price fall is the culprit.

Lake Resources has been smashed today. The company is down another 13.92% so far at 84 cents a share. Not to be outdone by Core Lithium, Lake Resources has now lost almost half of its value over the past week.

The post Here are the 3 most heavily traded ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Why is the Core Lithium share price down 14%?
• Why ASX-listed property shares could be on the chopping block
• Why has the Lake Resources share price tumbled another 13% on Wednesday?
• Why Blackmores, Lake Resources, St Barbara, and Zip shares are dropping
• How attractive is the Santos dividend right now?

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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Today has brought yet another punch for S&P/ASX 200 Index (ASX: XJO) shares, and these quality stocks haven’t been immune to the market’s pain.

The ASX 200 is down 0.08% right now, leaving it 9.5% lower than it was at the end of May. It has also tumbled 14% since the start of 2022.

But that might have created an opportune entry point for some high-quality ASX 200 shares. Here are three that hit their lowest price in more than a year on Wednesday.

3 quality ASX 200 shares trading at 12-month lows

Washington H Soul Pattinson and Co Ltd (ASX: SOL)

ASX 200 favourite Soul Patts has seen its share price hit a new 52-week low of $22.52 today despite no word from the investment house. That leaves it around 27% lower than it was at the start of the year.

The last time the market heard news from the nearly 120-year-old company was back in March when it announced its adjusted half-year profits had leapt 281%.

Blackmores Limited (ASX: BKL)

Another quality ASX 200 share slipping to a new 52-week low today is Blackmores. It reached a low of $65.00 in intraday trade.

Once again, the market hasn’t heard news from the company since it released strong earnings for the first half. Though, it likely disappointed some by deciding not to provide guidance for the second half.

Today’s slip might be due to broker Morgans’ decision to lower its price target for the stock to $70.50.

The Blackmores share price has fallen 28% since the start of 2022.

Megaport Ltd (ASX: MP1)

Finally, ASX 200 tech share Megaport reached a new 52-week low of $4.79 earlier today.

The company’s stock has struggled alongside the broader S&P/ASX 200 Information Technology Index (ASX: XIJ) this year. That’s despite it reporting seemingly decent growth in its most recent trading update, released in April.

Megaport shares are nearly 73% lower year to date.

The post 3 high-quality ASX 200 shares trading at 52-week lows right now appeared first on The Motley Fool Australia.

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More reading

• Why Blackmores, Lake Resources, St Barbara, and Zip shares are dropping
• Why is the Blackmores share price sinking 8% to a 52-week low?
• Down 33% in a month, is the Megaport share price in ‘value’ territory?
• 3 reasons why I think the Soul Pattinson share price is an excellent buy right now
• How to start investing in stocks: This ASX 200 share is where I’d begin

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 MEGAPORT FPO and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Blackmores Limited and MEGAPORT 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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Top broker UBS has reduced its price targets on Australian real estate investment trusts (REITs) by an average of 15% but also says it’s time to buy a couple of the biggest names.

The ASX Australian REIT (A-REIT) sector includes Charter Hall Group (ASX: CHC), Charter Hall Retail REIT (ASX: CQR), Charter Hall Long WALE REIT (ASX: CLW), Centuria Industrial REIT (ASX: CIP), Goodman Group (ASX: GMG), Stockland Corporation Ltd (ASX: SGP), and BWP Trust (ASX: BWP).

Which ASX property shares does UBS like?

According to reporting in The Australian, UBS has raised its rating on Centuria Industrial to a buy. This follows a 30.5% fall in the Centuria Industrial share price year to date.

The broker also gives ASX investors the green light on Charter Hall Group. UBS reckons it’s time to buy Charter Hall shares, which have dropped in price by 47.5% in 2022.

The UBS team has also raised its rating to neutral on BWP Trust shares. The A-REIT stock has lost 7.8% in value in 2022.

And finally, UBS has expressed some pessimism about Shopping Centres Australasia Property Group Ltd (ASX: SCP) shares. The team has lowered its rating to neutral. The Shopping Centres Australasia share price is down 10% this year so far.

A-REITs underperform in 2022

The news report notes “material sector underperformance” for ASX property shares this year.

The S&P/ASX 200 A-REIT Index (ASX: XPJ) has lost 25% in 2022, underperforming the broader benchmark S&P/ASX 200 Index (ASX: XJO) which has fallen 14%. But it’s better than the ASX tech sector, with the S&P/ASX All Technology Index (ASX: XTX) down 40%.

UBS analyst Grant McCasker said: “As extraordinary policy settings normalise and inflation emerges, markets are increasingly pricing in negative outcomes [including] a potential recession or stagflation.”

Rising interest rates to hurt A-REIT profits

McCasker thinks A-REITs will lose profits over the next three years due to rising interest rates.

The article said McCasker has reduced his forecasts for sector earnings over FY23 to FY26 by 5%.

The loss in earnings will be “marginally offset by inflation-linked leases; FY23 asset devaluations of
about 8 per cent for real estate fund managers; and a more severe residential downturn”, the article said.

The latest monthly CoreLogic report revealed national home values fell for the first time since September 2020 last month. The national fall — which was only 0.1% — was led by Sydney and Melbourne.

These two markets began to cool earlier in the year. Home values are down 0.9% and 0.6% respectively.

The post Why ASX-listed property shares could be on the chopping block appeared first on The Motley Fool Australia.

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More reading

• How attractive is the Santos dividend right now?
• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment
• Has 2022 proven Woolworths is a defensive ASX share?
• ASX 200 midday update: St Barbara and Zip drop to multi-year lows
• 3 reasons why I think the Soul Pattinson share price is an excellent buy right now

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 positions in and has recommended Shopping Centres Australasia Property Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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