Category: Stock Market

There are many different ways to invest in ASX shares. But could Vanguard Australian Shares Index ETF (ASX: VAS) be the cheapest way to do it?

The VAS ETF is an investment that provides exposure to 300 of the biggest businesses on the ASX.

What is Vanguard?

Vanguard is one of the world’s biggest asset managers. The Vanguard Group was founded in 1975 and has over $11 trillion of assets under management globally across more than 400 funds. Vanguard Australia was founded in 1996 and has $142 billion of assets under management across 82 funds.

How is it different to other managers?

The investment manager says that its focus is always on putting the interests of investors first.

It says that its core purpose is to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.

Vanguard’s ownership structure, where investors are owners of the business, aligns its interests with investors and drives the culture, philosophy and policies throughout the organisation around the world.

A key selling point of Vanguard is its low costs for investors. That’s also one of the selling points for Vanguard Australian Shares Index ETF. Indeed, it says:

Providing leading, low-cost investment products and solutions to investors isn’t a pricing strategy for us. It’s how we do business.

Our unwavering focus on making decisions in the best interests of investors ensures we deliver a disciplined and consistent investment experience.

As its assets under management increases globally, it aims to reduce its expense costs/ratios for the investors in the funds.

It is already at a very large scale, which helps it keeps costs low for investors.

What are the benefits of low costs?

The lower the costs of investing, the more money that investors get to keep themselves in the VAS exchange-traded fund (ETF) or any other product.

As Vanguard points out, every dollar someone pays for fees and costs is a dollar less of potential returns to that person’s portfolio. Compounded over time, every dollar saved contributes to overall fund performance.

It’s not just scale and a desire to lower costs that helps Vanguard provide lower costs. It says:

Our focus on efficient portfolio management and low turnover means lower ongoing transaction costs and expenses for our investors.

Is VAS ETF the cheapest way to invest in ASX shares?

When looking at some of the largest diversified investment options, there are several with very low fees.

For example, one of the oldest listed investment companies (LICs), Australian Foundation Investment Co.Ltd. (ASX: AFI), has an annual management fee of just 0.14%.

Argo Investments Limited (ASX: ARG), another of the oldest and largest LICs, has an annual fee (also called a management expense ratio) of 0.14%.

Now let’s look at Vanguard Australian Shares Index ETF.

The VAS ETF has an annual fee of just 0.10%. For that fee, investors get cheap exposure to the ASX’s blue chips like Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP), CSL Limited (ASX: CSL) and Macquarie Group Ltd (ASX: MQG).

But there is an ETF with an even cheaper cost.

BetaShares Australia 200 ETF (ASX: A200) has an annual fee of just 0.07%. It claims to be the world’s lowest cost ASX shares ETF.

With similar holdings and costs, it is up to investors to decide which provider they want to go with.

The post Is Vanguard Australian Shares Index ETF (ASX:VAS) the cheapest way to invest in ASX shares? appeared first on The Motley Fool Australia.

More reading

• Own VAS shares? Here’s how this ETF performed in 2021
• Invested in VAS shares? Here’s what to watch in 2022

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. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Later this year Commonwealth Bank of Australia (ASX: CBA) is likely to be supplanted by mining giant BHP Group Ltd (ASX: BHP) as the largest company on the Australian share market.

What’s happening?

Australia’s largest bank has been the top dog on the ASX for many years but BHP’s unification plans will put an end to that if shareholder approval is granted.

Last year, the Big Australian announced plans to end its listing on the London Stock Exchange and have its primary listing purely on the Australian share market. This compares to its current dual listing, which has shares listed on both exchanges.

At present, the CBA share price implies a market capitalisation of approximately $173 billion. This is some distance ahead of the BHP ASX market capitalisation of $138.5 billion. However, BHP’s UK market capitalisation is estimated to be GBP50.2 billion (A$94.6 billion).

So, once the dual listing ends, the combined BHP market capitalisation on the ASX will be a massive $233 billion, which is a sizeable $60 billion ahead of CBA. For context, this is about the size of conglomerate Wesfarmers Ltd (ASX: WES).

Could CBA retake the top spot?

For Australia’s largest bank to retake the top spot, it would require a big rise in the CBA share price.

For example, to grow its market capitalisation from $173 billion to $233 billion would require an increase of 35%. This would mean the CBA share price rising from $102.24 currently to $138.00.

While this is not unthinkable, the problem is that most analysts already believe the CBA share price is trading on sky high multiples.

So much so, Macquarie and Morgans both have the equivalent of sell ratings on its shares with price targets of $86.00 and $73.00 respectively. And while Bell Potter is positive on the bank’s shares, its 12-month price target of $111.00 leaves it well short of the level required to retake top spot.

In light of this, CBA may have to get used to playing second fiddle in the future.

The post CBA (ASX:CBA) is about to lose the mantle of the ASX’s largest company, here’s why appeared first on The Motley Fool Australia.

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• Is Westpac (ASX:WBC) going to be the best big 4 bank for dividends in 2022?
• Why did the BHP (ASX:BHP) share price struggle so much in 2021?
• 5 things to watch on the ASX 200 on Thursday
• Could this impact the performance of ASX 200 banks more than interest rates in 2022?
• Own BHP (ASX:BHP) shares? Here’s the lowdown on the miner’s latest nickel play

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 owns and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Crown Resorts Ltd (ASX: CWN) share price has been the best performer on the ASX 200 on Thursday.

Earlier today, the casino and resorts operator’s shares jumped a massive 9% to $12.68.

Why is the Crown share price surging higher?

Investors have been bidding the Crown share price higher this morning after the company revealed the receipt of an improved takeover proposal from Blackstone.

Crown advised that the private equity firm sweetened its offer after considering non-public information provided by Crown during initial due diligence.

According to the release, Blackstone has tabled a non-binding $13.10 cash per share offer, up 4.8% from its previous offer of $12.50 cash per share in November.

The good news for the private equity firm is that this offer has gone down well with the Crown Board on this occasion. The previous offer did “not represent compelling value for Crown shareholders” according to the Board last time.

However, this time around the “Board’s current unanimous intention would be to recommend the proposal” if Blackstone makes a binding offer “no less than $13.10 cash per share.” This would remain subject to there being no superior proposal and the Independent Expert report concluding that it is in the best interests of shareholders.

In the meantime, though, the company has told its shareholders that they do not need to take any action in relation to the revised proposal. It also warned there is no certainty that the discussions between Crown and Blackstone will result in a change of control transaction.

What about Star?

All eyes will be on Star Entertainment Group Ltd (ASX: SGR) in the coming days and weeks. It was interested in a merger with Crown before withdrawing its offer due to the uncertainty caused by the Royal Commission into Crown Melbourne.

Star has previously suggested that a deal could unlock estimated cost synergies of between $150 million to $200 million per annum. Don’t be surprised if it returns with a new merger proposal.

The post Here’s why the Crown (ASX:CWN) share price jumped 9% today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Crown jumps, miners rally, Sonic sinks
• Crown (ASX:CWN) share price on watch after Blackstone ups takeover bid
• 5 things to watch on the ASX 200 on Thursday
• Crown (ASX:CWN) share price slides on news of second $1m fine
• Leading fund manager says these blue-chip ASX shares are buys right 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 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 Bruce Jackson.

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Australian shares are extended gains for the third straight session today as the benchmark S&P/ASX 200 Index (ASX: XJO) inches higher to 7,477 points.

Gains in the broad indices are led by a rally in defensible pockets of the market today, namely in mining, energy and financial stocks.

For instance, the S&P/ASX 200 Energy Index (XEJ) is up less than 1% on the day whereas the S&P/ASX 300 Metals & Mining Index (XMM) has spiked over 2.5%.

Shares in oil and gas giant Origin Energy Ltd (ASX: ORG) are also crawling higher today and are now changing hands at $5.60 apiece, peaking at its 52-week high in doing so.

After trading sideways for the bulk of 2021, the Origin Energy share price has bounced from a low of $4.78 in December and has since traded in an ascending channel to rally as much as 17.5% in that time.

What’s lighting Origin shares today?

Momentum behind Origin’s share price has been high since it announced the acquisition of community energy services company WINconnect.

The deal is set to provide Origin with an additional 87,000 customers, helping the energy giant reach a total of 367,000 customers.

However, gains for ASX energy shares in 2022 are underscored by strengths in the natural gas markets that has been in situ since January.

Natural gas spot is now trading at US$4.82 per million British thermal units (MMBtu) after rallying more than 35% since December 30.

US Natural gas futures also jumped over 13% yesterday to US$4.8/MMBtu, a 6-week high that is well on course to reach 5-year highs of US$6.1320/MMBtu back in October 2021.

Origin, being one of Australia’s largest natural gas producers and exporters, is set to benefit from the surging prices at the margin and free cash flow level, as has been the case with many commodity juggernauts these past 2 years.

Aside from this, the US 10-year Treasury yield touched 1.8% on Monday resulting in a rotation into more defensive sectors like energy and financials.

The investment research team at JP Morgan offer some interesting insights into this, noting that financials, energy and industrials have the highest correlation with a rising yield on the US 10-year note.

In other words, over the last 5-years, these sectors have tracked the US 10-year yield closely and this helps explain their strength since yields spiked again in 2022, JP Morgan says.

With these points in mind, it appears these are the ingredients to make a flavoursome recipe for Origin shareholders in the early days of 2022 with shares jumping 7% since January 1.

Origin Energy share price summary

In the last 12 months, the Origin Energy share price has climbed more than 8% after rallying almost 12% this past month.

Long-term things aren’t as rosy, with shares making a gradual but substantial walk downwards from highs of $10.15 over the last 5-years.

The post Why is the Origin (ASX:ORG) share price hitting new highs today? appeared first on The Motley Fool Australia.

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• In the green: the 5 best ASX renewable shares of 2021
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• Origin (ASX:ORG) share price slips on $42 million acquisition

The author has no positions 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 Bruce Jackson.

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The ReadyTech Holdings Ltd (ASX: RDY) share price is sinking today following a company update regarding a government licensing project.

At the time of writing, the mission-critical software company’s shares are swapping hands for $3.15, down 6.80%.

What did ReadyTech announce?

The ReadyTech share price is falling after ReadyTech advised it was not successful in winning the government licensing project.

Last year on 11 January, ReadyTech noted that Open Office had been shortlisted for a key government contract. However, the company was not selected for the contract, meaning it will not be paid an $8 million earn-out.

Management said the government client selected an alternative option rather than its configurable Open Office offering.

The project was not included in ReadyTech’s gross opportunity pipeline. Therefore, its FY22 guidance remains unchanged.

Furthermore, the company reiterated its government and justice division is focused on innovating, developing, and delivering scalable cloud-based solutions.

ReadyTech co-founder and CEO Marc Washbourne commented:

Open Office is completely aligned with ReadyTech in its focus on configurability, not customisation, in delivering innovative, customer-centric SaaS [software-as-a-service] solutions. This cultural alignment has facilitated the integration of the two businesses and outperformance of Open Office relative to expectations.

With the business continuing to perform strongly, we are excited by the opportunities we see for the government and Justice segment, as with our education and workforce Solutions segments.

About the ReadyTech share price

It’s been a sound year for shareholders, with the ReadyTech share price having gained around 70% in the last 12 months. However, the company’s shares are down around 20% so far in 2022.

Based on today’s price, ReadyTech has a market capitalisation of $331.63 million and a price-to-earnings (P/E) ratio of 129.17.

The post Here’s why the ReadyTech (ASX:RDY) share price is tumbling 7% today appeared first on The Motley Fool Australia.

More reading

• Sticky revenue winners. Here are the 5 best ASX SaaS shares of 2021
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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. owns and has recommended Readytech Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Ai-Media Technologies Ltd (ASX: AIM) share price is falling today amid news relating to its captioning service.

Shares in the company are currently trading at 68 cents, down 3.13%.

Ai-Media provides captioning, transcription, and translation services to companies around the world using a cloud-based technology platform.

Let’s take a look at what may be weighing on the Ai-Media share price today.

Djokovic leak controversy

Investors could be reacting to news that Ai-Media is investigating whether a staffer leaked a private conversation between Seven Network Holdings Ltd (ASX: SVW) newsreaders about the World No. 1-ranked tennis star, Novak Djokovic, The Australian has reported.

Ai-Media and Seven held high-level discussions about the matter on Wednesday night, the publication said.

In the footage, which has been going viral on social media, newsreader Rebecca Maddern comments:

Whatever way you look at it Novak Djokovic is a lying, sneaky… it’s unfortunate that everybody else stuffed up around him. To go out when you know you are COVID-19 positive…

Djokovic has been dominating the news in recent days after his controversial entry into Australia to play in the Australian Open.

The Federal Immigration Minister, Alex Hawke, is considering whether to use his veto rights to cancel Djokovic’s visa. A decision is expected today, according to a News Corp report.

My Foolish colleague James noted Ai-Media is a growing small-cap share to watch this week. Broker Bell Potter has a buy rating on the company and a $1.50 target for the Ai-Media share price.

Ai-Media share price snapshot

The Ai-Media share price has fallen by 27.66% in the past 12 months. It is down 5.56% over the past 4 weeks.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 12% in the past year.

Ai-Media has a market capitalisation of about $145 million based on the current share price.

The post Ai-Media (ASX:AIM) share price slides amid Novak Djokovic leak saga appeared first on The Motley Fool Australia.

More reading

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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 Bruce Jackson.

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It’s been a rocky start to the day for the APA Group (ASX: APA) share price despite good news regarding the company’s Orbost Gas Processing Plant.

The plant’s operations were boosted over December and have continued strong into January.

Despite the positive update, the APA Group share price struggled in early trade. It opened higher than its previous close but quickly tumbled to a low of $9.97 – a 0.3% fall.

At the time of writing, the company’s stock is trading at $10.06, 0.5% higher than it was at the end of yesterday’s session.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.51%.

Let’s take a closer look at what’s likely moving the $11.8 billion gas transmission provider’s stock on Thursday.  

What’s up with the APA Group share price on Thursday?

The APA Group share price has seemingly shaken this morning’s wobbles to trade on a slightly lower gain than the broader market.

The movements followed news from Cooper Energy Ltd. (ASX: COE). The gas and oil producer released an update on its operations, noting APA’s Orbost Gas Processing Plant – which is fed by Cooper Energy’s Sole gas field – saw its production increase 5% in December compared to that of November.

The average processing rate at the plant was 44.3 terajoules per day last month.

Excitingly, the boost has continued into the new year. The plant recorded a stable processing rate of 50 terajoules per day over the first 12 days of the year.

Though, that’s still less than its long-term expectations. The plant has a nameplate capacity of 68 terajoules per day.

December’s increase was due to optimisation of the gas plant’s process parameters.

Additionally, 2 two sulphur absorbers have been recently operating on a planned 21-day cleaning cycle. Continuing optimisation and monitoring could result in the cycle’s extension.

Finally, high demand for Cooper Energy’s gas has continued, with its average sales volume reaching 58 terajoules per day in December.

APA Group’s plant is processing shortfalls met through Cooper Energy’s backup gas supply arrangements and Otway Basin production.

While the APA Group share price seems to have just gotten its groove back, Cooper Energy’s shares have surged ahead.

Right now, they’re trading for 5% more than they were at yesterday’s close, swapping hands for 30 cents apiece.

The post What’s up with the APA Group (ASX:APA) share price today? appeared first on The Motley Fool Australia.

More reading

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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 owns and has recommended APA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BWX Ltd (ASX: BWX) share price is plummeting this morning after the beauty and wellness brand announced a leadership change.

At the time of writing, the BWX share price is down 14.22% trading at $3.74. Let’s take a look at the news.

New leadership for BWX

In this morning’s release, BWX advised that its group chief operations officer Rory Gration will take over the position of group CEO and managing director from 1 March.

Gration will replace Dave Fenlon, who will remain on the board as a non-executive director.

With 25 years of experience in consumer goods and executive positions before joining BWX, the board is confident in the transition.

BWX chair Ian Campbell said:

Rory has been with BWX since August 2018 and has played a pivotal role in executive BWX’s global expansion strategy.

With our new operations and manufacturing facility opening in March 2022, the Board and Dave believe that now is the appropriate time for him to step into the Group CEO role.

Both regional operations managers — Doug Hosking (president, Americas) and Stephen Brown (managing director of APAC & EMEA) — will report to Gration.

A busy year for BWX in 2021

The appointment sets a fresh leadership agenda moving forward after a busy 2021 for the company. BWX’s share price gained a boost in February and was at its highest in the middle of the year, coinciding with a landslide of news.

The company announced a five-year strategic partnership with Chemist Warehouse in February, coinciding with a share price jump of 11%.

Under the partnership, BWX’s entire line of products will be carried through the chemist’s Australian, New Zealand and Ireland online stores.

In May, the company announced it would acquire vegan retailer Flora & Fauna, and finalised the deal in July. A few days later, BWX confirmed the Chemist Warehouse collaboration.

In August, the company announced a 50.1% controlling stake in Go-To Skincare — a beauty brand founded by Australian personality, Zoë Foster Blake.

The BWX share price rose slightly on Christmas Eve as it paid its final consideration of $89.49 million for Go-To Skincare (after completing the customary post completion working capital adjustments), before falling again before the new year.

In today’s announcement, BWX said it expects “strong revenue growth, including acquisitions, for the financial year ending December 2021” and anticipates this trend to continue into the full year FY22, providing the retail market continued to recover.

BWX share price snapshot

Despite its busy year of collaborations, the BWX share price has dropped by 26% in the last six months.

The company currently has a market capitalisation of around $605 million and a price-to-earnings ratio (P/E) of 21.9.

The post BWX (ASX:BWX) share price sinks 14% on leadership news appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin 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 BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Global Lithium Resources Ltd (ASX: GL1) share price is charging higher today, up 12.69% at $1.46.

It marks a new record high for the company that began trading after being listed on the ASX in May last year.

The price rise comes after an announcement from Global Lithium regarding new appointments on its board. Here are the details.

What did Global Lithium announce?

The Global Lithium share price is surging after the company advised it has appointed two new members to its directorship. Specifically, it has appointed Ronald Mitchell as executive director markets and growth, and Greg Lilleyman as a non-executive director.

Global Lithium says Lilleyman comes with more than 30 years of international experience in the mining sector. He was formerly chief operating officer and director of operations at Fortescue Metals Group Limited (ASX: FMG) and had 26 years at Rio Tinto Limited (ASX: RIO) prior to that.

Meanwhile, Mitchell has more than 25 years of experience in senior roles. This includes more than 10 years in the lithium and battery metals industry, according to the company.

Mitchell, who is also the inaugural chairman of the London Metal Exchange (LME) Lithium Committee, will step into the role from 1 March.

Global Lithium also advised that managing director Jamie Wright has stepped down from the board and his role. Wright, who is moving back to his home state of South Australia, will remain as a director until 1 March.

Aside from that, the Western Australia-based company has engaged mining consultancy CSA Global to manage the exploration of its Marble Bar lithium project.

CSA Global is a “worldwide geological consultancy business with deep experience in managing drilling and exploration campaigns across a wide range of commodities”. CSA will act as program manager for the 60,000m drilling program due to commence this quarter.

With the “combination of CSA Global, Orlando Drilling, and Resource Potentials”, Global Lithium is “confident of successful campaigns across both the Marble Bar and Manna projects”.

Management commentary

Speaking on the announcement driving the Global Lithium share price, chairman Warrick Hazeldine said:

In his tenure as managing director, Jamie has overseen a significant period of growth, both in terms of tenement holdings and market capitalisation. Importantly, the Board and he are fully aligned in the belief that the company would continue to benefit from a WA-based management team. On behalf of the Board and our shareholders, I thank him for his tireless efforts over the past year.

We welcome Ron Mitchell and Greg Lilleyman to the Board.

Incoming board member Lilleyman said:

It’s great to have the opportunity to use my extensive experience and history in the Pilbara to assist Global Lithium in converting the exciting exploration potential of the Marble Bar Lithium Project into a world-class operation to support the clean energy transition.

Global Lithium share price snapshot

It’s been a fantastic start on the ASX for the Global Lithium share price. It is now up 620% from its IPO listing price of 20 cents in May 2021.

The share price was climbing steadily until late December when the company revealed significant lithium assay results from its exploration program at the Marble Bar project. Since then it has rocketed 128%.

The post Global Lithium (ASX:GL1) share price soars 13% to record highs appeared first on The Motley Fool Australia.

More reading

• Global Lithium (ASX:GL1) share price hits new 52-week high on acquisition update
• Why the Global Lithium (ASX:GL1) share price is surging 12% higher today
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The author has no positions 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 Bruce Jackson.

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on form again and pushing higher. The benchmark index is currently up 0.5% to 7,477.5 points.

Here’s what is happening on the ASX 200 today:

Crown shares jump on improved Blackstone offer

The Crown Resorts Ltd (ASX: CWN) share price is surging higher today after receiving an improved takeover offer from Blackstone. The private equity firm has lifted its offer from $12.50 cash per share to $13.10 cash per share. While the previous offer did “not represent compelling value for Crown shareholders” this time around the Crown Board believe it would be acceptable if it becomes binding. All eyes are now on Star Entertainment Group Ltd (ASX: SGR), which has been interested in a merger with Crown.

Sonic shares sink

The Sonic Healthcare Limited (ASX: SHL) share price is sinking today despite there being no news out of the healthcare company. However, as Sonic has been a huge winner from COVID testing, the shift to rapid antigen testing looks set to weigh on its performance in the coming months. There appear to be concerns that this could see it fall short of the market’s lofty expectations.

Mining shares rally

The mining sector has been on fire on Thursday thanks partly to a broker note out of Goldman Sachs. Its analysts spoke very positively about the sector’s outlook and shares including South32 Ltd (ASX: S32) (here) and Whitehaven Coal Ltd (ASX: WHC) (here). Both mining shares are charging notably higher at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Crown share price with an 8% gain following Blackstone’s takeover offer. Going the other way, the PolyNovo Ltd (ASX: PNV) share price is the worst performer with a 6.5% decline. This appears to have been driven by profit taking after a very strong gain on Wednesday following the release of a trading update.

The post ASX 200 (ASX:XJO) midday update: Crown jumps, miners rally, Sonic sinks appeared first on The Motley Fool Australia.

More reading

• Goldman tips Whitehaven (ASX:WHC) share price to jump 25%
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• 5 things to watch on the ASX 200 on Thursday
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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. owns and has recommended POLYNOVO FPO. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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