Category: Stock Market

The Woodside Petroleum Limited (ASX: WPL) share price is bucking the wider selling trend on the S&P/ASX 200 Index (ASX: XJO).

Woodside is up 0.2% at time of writing, while the ASX 200 has given back early morning gains and is currently down 0.2%.

The Woodside share price has outperformed the benchmark for some time now.

Taking a look at the past 3 weeks, it’s up 24% since the closing bell on 20 September. That compares to a 0.5% gain on the ASX 200.

Below we take a look at what’s driving investor interest in the Aussie energy giant.

Namely…

A global energy crunch

There are numerous factors at play that determine any company’s share price.

For the Woodside share price, one of those factors is the company’s plans to merge with BHP Group Ltd‘s (ASX: BHP) oil and gas business, which it announced in mid-August.

But one of the strongest tailwinds the company has enjoyed of late is soaring energy prices.

As the world moves to reopen, demand for everything from coal, to natural gas, to crude oil (and more) is booming. Meanwhile, new supplies are lagging.

The result?

International benchmark Brent crude prices have rocketed 12.8% in just the past 3 weeks, from US$73.92 per barrel on 21 September to US$83.33 per barrel today.

These kind of price rises often go straight to the bottom line for commodity producers. That’s because their fixed costs remain largely the same, regardless of the price of the fuel they pump from the ground.

Hence, the 24% leap in the Woodside share price isn’t unexpected.

Indeed, most ASX energy shares have enjoyed a strong run lately. The S&P/ASX 200 Energy Index (ASX: XEJ), for example, is up 20% in 3 weeks.

Woodside share price snapshot

As we saw above, the Woodside share price has slightly outpaced the Energy Index over the last 3 weeks and left the ASX 200 in the dust.

Year-to-date Woodside shares are up 10%. That’s right in line with the 10% gains posted by the Energy Index and just edges out the 9% gains made on the ASX 200.

The post Why the Woodside (ASX:WPL) share price has rallied 24% in 3 weeks appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 energy shares rise amid market sell-off
• Here’s what happened to the Woodside Petroleum (ASX:WPL) share price in the FY22 first quarter
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday

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 Forrestania Resources Ltd (ASX: FRS) share price is soaring 17.14% into the green during early afternoon trade and is now changing hands at 41 cents.

Forrestania shares are on the move after the company announced a key update regarding its Forrestania project.

Here’s what we know.

Forrestania share price lifts on significant lithium target finds

The company advised that it had identified “significant new lithium target areas” based on testing done at the Forrestania site.

It used a technology known as “Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER)” to identify alteration footprints and target anomalies at the project.

ASTER technology is an instrument onboard NASA’s Terra satellite, which produces images of the Earth’s surface in 14 alternate wavelengths of the electromagnetic spectrum, per the release.

Forrestania is integrating the technology into its exploration targeting process, in order to rank and define areas of interest.

The release notes that Forrestania stumbled across a major ASTER lithium target anomaly, adjacent to the Wesfarmers/SQM MT Holland Lithium mine – a site labelled ‘world class’ by the company.

As a result of the testing outcomes, Forrestania proclaims that “outstanding lithium prospectivity (at the project) is supported by a substantial first-pass geochemical database”.

The next moves for Forrestania at the site involve “geological reconnaissance and field checking; and geochemical sampling” alongside other groundwork.

The company will release more on the results as they become available, as per the release.

Management appeared impressed by the news, and are optimistic about the new target find. Speaking on the announcement, Forrestania CEO, Melanie Sutterby, said:

The ASTER data presented in this release is a small but significant part of our exploration efforts at the Forrestania Project, which is a unique and prospective portfolio. Geologically, our package holds the potential to discover a range of commodities, including lithium, nickel and other speciality metals.

Sutterby also went on to add:

With its status as a world-class lithium province ascribed within the past decade, explorers have only just scratched the surface at Forrestania, and we plan to play a lead role in the development of the area.

Forrestania Resources share price snapshot

It’s been all systems go for the Forrestania Resources share price since listing last month.

In that time, initial investors have gained 115% on their investment, capturing another 30% this week alone.

The post Forrestania (ASX:FRS) share price rockets 17% on lithium and gold update appeared first on The Motley Fool Australia.

More reading

• Forrestania Resources (ASX:FRS) share price rockets 45% on IPO

The author Zach Bristow 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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ASX lithium shares are charging higher on Tuesday as lithium prices reached all-time highs amid limited supply and elevated demand.

ASX 200 lithium heavyweights Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) are up 1.4% and 3.8% respectively.

Towards the more speculative end of town, Piedmont Lithium Inc (ASX: PLL), Charger Metals NL (ASX: CHR) and Argosy Minerals Limited (ASX: AGY) are big winners today, up 6.2%, 10.5% and 3.8% respectively.

Not all gains are made equal, however, with players such as Liontown Resources Ltd (ASX: LTR), Firefinch Ltd (ASX: FFX) and Core Lithium Ltd (ASX: CXO) underperforming in today’s session so far, down a respective 0.7%, 2.4% and 1.2%.

Runaway spot prices drive ASX lithium shares higher

According to Benchmark Mineral Intelligence, prices for battery-grade lithium carbonate rose 26.5% in China to 160,000 yuan (US$24,800) a tonne in the final two weeks of September.

This marks a new all-time high for battery-grade lithium carbonate prices, surpassing 2018 highs of US$24,750 a tonne.

Prices have jumped on the back of strong demand from China, with demand for lithium-ion batteries “remaining high and steady after a year of significant growth”.

Looking ahead, Benchmark Minerals said that record prices are “likely to incentivise a strong upward revision of contract prices in Q4 as new deals and pricing breaks are negotiated for the start of 2022”.

It also observed that supply contracts negotiated in the fourth quarter can be influenced by spot market sentiment.

“It is this revision that sparked the surge in lithium chemicals pricing in 2015, indicating that the start of 2022 could see further momentum in price rises,” the report added.

The bullish performance of lithium has helped buoy ASX lithium shares.

The broader sector has cooled off in recent months with many shares trading 15-20% below recent multi-year or all-time highs.

The post ASX lithium shares lift as spot prices hit all-time highs appeared first on The Motley Fool Australia.

More reading

• Minerals 260 (ASX:MI6) shares set to hit ASX boards today
• Could the Pilbara Minerals (ASX:PLS) share price hit $2.80 by the end of 2021?
• Liontown (ASX:LTR) share price lifts ahead of Minerals 260’s IPO
• Brokers name 3 ASX shares to buy today
• These 3 ASX 200 shares are the most popular by trading volume today

Motley Fool contributor Kerry Sun 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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is trading lower. The benchmark index is currently down 0.1% to 7,291.5 points.

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

Westpac’s notable items

The Westpac Banking Corp (ASX: WBC) share price is trading lower today after revealing a number of notable items that will impact its financial results. Westpac advised that its profit will be hit by a total of $1.3 billion of notable items. These include $965 million write down of assets in Westpac Institutional Bank (WIB) following its annual impairment test, and additional provisions for customer refunds, payments, associated costs and litigation provisions of $172 million.

Ansell shares downgraded

The Ansell Limited (ASX: ANN) share price is under pressure today after being the subject of a bearish broker note. According to a note out of Macquarie Group Ltd (ASX: MQG), its analysts have downgraded the health and safety protection solutions company’s shares to an underperform rating and cut the price target on them to $32.00. The broker believes that recent trends pose downside risk to the market’s earnings expectations.

Mining giants rise

The shares of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are rising today after a strong night for iron ore prices. According to Metal Bulletin, the spot iron ore price has jumped 9.4% to US$135.03 a tonne thanks to supply concerns. BHP and Rio Tinto’s shares are both up approximately 1.5% at the time of writing.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Alumina Limited (ASX: AWC) share price with a 5% gain. This appears to have been driven by rising alumina prices. The worst performer on the index has been the Ansell share price with a 4% decline following the broker downgrade.

The post ASX 200 (ASX:XJO) midday update: Westpac’s $1.3bn earnings hit, Ansell sinks appeared first on The Motley Fool Australia.

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• Why did the Macquarie (ASX:MQG) share price have such a great FY22 first quarter?
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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 shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Ansell 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 Tinybeans Group Ltd (ASX: TNY) share price is soaring on Tuesday morning. This follows the tech company’s business update in regards to its new paid subscription model, Beanstalk.

At the time of writing, the company’s shares are up 6.25% to $1.02. In earlier trading, they jumped by 10% to $1.06 before partially retreating.

What did Tinybeans announce?

In its release, Tinybeans advised its subscription offering, Beanstalk, has acquired more than 3,500 new paying subscribers since being launched. The product was integrated in full across the platform in August 2021.

The company’s strategy has been to grow consumer subscriptions with recurring revenues to complement its growing advertising revenues. To facilitate this, the model moved from a mostly free experience into a new, comprehensive paid subscription service.

As such, Tinybeans highlighted its advertising revenue is on track to reach record levels in Q1 FY22.

CEO Eddie Geller commented on the news possibly driving the Tinybeans share price today:

The strong early adoption trends we have experienced following the launch of our paid subscription product, Beanstalk, in August highlight the additional value we are delivering to our userbase.

Additionally, we have maintained our momentum in our advertising business, which remains on track to deliver record revenues in Q1 FY22. We believe this is a testament to the success of our efforts to improve the platform experience for our advertising partners and increase engagement from our valued members.

We are proud of the incremental milestones that we have achieved and look forward to providing additional details when we report our results for Q1 FY22.

Quick take on Tinybeans

Developed in Australia, Tinybeans is a social media platform that allows parents to share photos and videos of their children within a secure community.

The platform addresses cyber security and user privacy concerns by creating a contained, invite-only environment. This gives users peace of mind when uploading content and sharing within an approved network.

Tinybeans share price snapshot

Over the past 12 months, the Tinybeans share price has fallen by around 13%. It is also down around 32% year to date.

Based on today’s price, Tinybeans commands a market capitalisation of roughly $48 million and has approximately 46.3 million shares outstanding.

The post Why the Tinybeans (ASX:TNY) share price is up 6% today appeared first on The Motley Fool Australia.

More reading

• The Tinybeans (ASX:TNY) share price has jumped 9% on Friday

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 shares of and has recommended Tinybeans Group Ltd. 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 Plenti Group Ltd (ASX: PLT) share price is off to the races today, up 7% at time of writing after earlier posting gains of more than 8%.

Below we take a look at the ASX fintech lender’s trading update for the quarter ended 30 September 2021 (Q2 FY22).

(Note that different companies abide by different financial year calendars.)

What were the growth figures for Q2 FY22?

The Plenti share price is soaring today after the company reported a 140% increase in quarterly loan originations compared to Q2 FY21.

The record high $256.4 million of loan originations also represented an 18% boost from the previous quarter (Q1 FY21).

September, with $95.5 million, proved to be another record month for Plenti’s loan originations. That figure was up 159% from September 2020 which the company said was a record month for loan originations at that time.

With another strong quarter behind it, Plenti reported its first half of the 2022 financial year (H1 FY22) loan originations leapt to $473 million. That’s up 183% from the previous corresponding period and up 56% from the previous half year.

The Plenti share price may also be getting a lift from the 110% year-on-year increase in the company’s loan portfolio which stood at $915 million as at 30 September.

Commenting on the results, Plenti’s CEO Daniel Foggo said:

I am delighted to report yet another outstanding quarter for Plenti, with record quarterly loan originations across each lending vertical. By continuing to take market share, Plenti has achieved strong growth despite COVID-induced lockdowns.

This strong growth along with the high level of operational leverage from our technology-led business model has accelerated our targeted timeframes for achieving a one-billion-dollar loan book and reaching Cash NPAT profitability, now targeted by end December 2021.

Plenti share price snap shot

The Plenti share price is up 23% in 2021, well outpacing the 9% gains posted by the All Ordinaries Index (ASX: XAO) over that same time.

Over the past month, Plenti’s shares are trading flat.

The post Why the Plenti (ASX:PLT) share price is soaring 7% today appeared first on The Motley Fool Australia.

More reading

• Why did the Macquarie (ASX:MQG) share price have such a great FY22 first quarter?
• Star Entertainment and SkyCity share prices plunge, Whitehaven Coal up. Scott Phillips on Nine’s Late News
• Qantas (ASX:QAN) share price falls amid new budget airline competition
• Why has the Australian Strategic Materials (ASX:ASM) share price tumbled 22% since August?
• Own NAB (ASX:NAB) shares? What to expect from its FY21 results

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 Macquarie Group Limited (ASX: MQG) share price had an amazing first quarter to the new financial year.

Starting the 3-month period at $156.43, shares rose 16.3% to end the quarter at $182.00 per share. That incredible growth comes despite the S&P/ASX 200 Index (ASX: XJO) having a mediocre quarter – rising only 0.26% in that time.

Let’s take a closer look at what’s been happening.

Macquarie Group performed really well

The first story that may have had a material impact on the Macquarie share price in the quarter was the positive brokers note out of Morgans in early August.

As Motley Fool previously reported, Morgans said at the time:

“We still see MQG as relatively inexpensive and continue to like its exposure to long-term structural growth areas such as infrastructure and renewables. Near term, MQG is likely to face earnings pressures from the impact of soft economic conditions but it remains well-positioned to ride out the current COVID-19 period and seize opportunities on the other side.”

A pretty mediocre July for the company, from that point, turned into a green August and September. Of course, this is not to say the rise is because of the note, but just to show the growth coincided with the note being released.

The next big story that seemed to have had a positive impact on the Macquarie share price was the release of its second-half forecast for the financial year – the company gaining 6% on the day.

At the time, Macquarie advised it expects 1H FY22 results to be “slightly down on 2H FY21”.

The investment bank gave the following reasons for the outlook:

• Competition amongst peers driving down margin pressure;
• Forecasted higher expenses to “support growth and investment”;
• Commodity income was also “expected to be down following a strong FY21”.

In the medium-term, Macquarie gave a more optimistic outlook. Macquarie believes it remains “well-positioned to deliver superior performance in the medium term”. That’s a stark contrast to its near term forward estimates at the time.

Macquarie share price snapshot

Over the past 12 months, the Macquarie share price has risen by 41%. Year-to-date, its shares are up 32%. Its 52-week high is $183.71 (hit yesterday) and its 52-week low is $125.56.

Macquarie Group has a market capitalisation of approximately $67 billion.

The post Why did the Macquarie (ASX:MQG) share price have such a great FY22 first quarter? appeared first on The Motley Fool Australia.

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• Is the Westpac (ASX:WBC) share price a buy for its 7% dividend yield?
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Motley Fool contributor Marc Sidarous 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 shares of and 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Monday night to discuss the day on the ASX, including a hit for Star Entertainment Group Ltd (ASX: SGR) and SkyCity Entertainment Group Limited (ASX: SKC) shares, plus a strong day for mining and oil, and good news for Whitehaven Coal Ltd (ASX: WHC).

The post Star Entertainment and SkyCity share prices plunge, Whitehaven Coal up. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 Qantas Airways Limited (ASX: QAN) share price is in the red today. This comes amid reports a new budget airline is planning to break into Jetstar’s market.

The new airline is intending to launch in Australia early next year, creating the only direct competition to Qantas’ Jetstar.

At the time of writing, the Qantas share price is $5.50, 0.45% lower than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.1%, while the All Ordinaries Index (ASX: XAO) has gained 0.03%.

Let’s take a closer look at Jetstar’s potential future competition.

Jetstar might soon face new competition

The Qantas share price is falling amid news Australia might soon have another budget airline.

Newcomer Bonza is planning to launch in the country in early 2022, as long as it can get regulatory approvals.

Bonza will be taking off with a fleet of Boeing 737-8 aircraft, but it hasn’t yet confirmed where it will be flying to. It’s currently in talks with airports around Australia.

Though, in what might be bad news for budget-conscious international travellers, Bonza has no plans to fly overseas. Thus, Jetstar’s Asia-Pacific routes are safe from domestic competition for now.

According to reporting by the Australian Financial Review, the airline start-up is backed by Miami-based investment firm, 777 Partners.

Additionally, Executive Traveller reports Bonza won’t be encroaching on some of Australia’s most popular routes.

Bonza is turning its back on popular routes between Melbourne, Sydney, and Brisbane. Instead, it will focus on less traversed and more leisurely routes, many of which aren’t currently serviced by major airlines.

Additionally, the up-and-coming airline won’t be offering any of the glitz and glam offered by some of its competitors, such as reward systems, airport lounges, or even business class.

Qantas share price snapshot

Today’s news of additional competition for Qantas’ Jetstar likely hasn’t impacted the airline’s share price.

Right now, the airline’s share price is 13% higher than it was at the start of 2021. It has also gained 29% since this time last year.

The post Qantas (ASX:QAN) share price falls amid new budget airline competition appeared first on The Motley Fool Australia.

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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 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 Australian Strategic Materials Ltd (ASX: ASM) share price is climbing higher in morning trade and is now changing hands at $10.70 apiece. That’s 4.9% up on yesterday’s close.

Yet the company has been sailing choppy waters these past few months, having slipped almost 22% off a high of $13.66 on 26 August.

That’s a curious plunge from a company whose share price had rallied more than 70% in August alone before the drop.

Australian Strategic Materials shares are also leading the loss in the broader sector, with the S&P/ASX Materials Index (XMJ) slipping just 9% during this time.

What’s been pushing the Australian Strategic Materials share price lower?

There’s been no market sensitive information from the company lately that appears remarkable on its share price.

However, the price of neodymium, the rare earths metal that Australian Strategic has exposure to, has traded sideways the last 2 months.

Prior to this, the price of neodymium, one of the most common rare earths elements, had soared 36% from June. It also hit all-time highs of $186,713/tonne earlier in the year before cooling off slightly.

However, since August, it has levelled and currently trades at $163,506/tonne – no real change over the period.

It seems the price of neodymium is impacting the company’s share price, as Australian Strategic is an ASX resource share that produces the commodity.

Taking a step back, it also appears there is weakness in the broader sector as well.

As mentioned, the S&P/ASX Materials Index has slipped into the red lately and is down 5% this past month.

The index is a good proxy to gauge performance of the wider industry and, based on these measures, it appears there have been headwinds lately.

ASX 200 materials shares have been on a march down since August when they were trading at 5-year highs.

Unsurprisingly, investors are reflecting this sentiment too. The VanEck Rare Earth/Strategic Metals ETF (NYSEARCA: REMX) – a good proxy to check the growth of shares in the industry – is down 9% this past month.

So it appears there is a rotation of capital away from ASX rare earths shares that is impacting the wider sector alongside weakness in commodities markets.

Investors just aren’t chasing ASX materials shares right now. The Australian Strategic Materials share price is set to be on the receiving end of these headwinds.

Australian Strategic Materials share price snapshot

It’s certainly not all doom and gloom for the Australian Strategic Materials share price. Zooming out over the longer-term, it has climbed 66% this year to date and 272% in the last 12 months.

This are impressive returns that far outpace the industry’s return and the S&P/ASX 200 Index (ASX: XJO)’s gain of about 20% in that time.

The post Why has the Australian Strategic Materials (ASX:ASM) share price tumbled 22% since August? appeared first on The Motley Fool Australia.

More reading

• Which shares are set to finish the week as the top movers on the ASX 300?
• Which ASX shares are leading the way in the ASX 300 today?
• Why is the Australian Strategic Materials (ASX:ASM) share price down 16% this month?
• Australian Strategic Materials (ASX:ASM) share price surges 5% against tumbling resources sector
• Which ASX shares are looking to finish the week as the top movers on the ASX 300 today?

The author Zach Bristow 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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