Category: Stock Market

The Raiz Invest Ltd (ASX: RZI) share price is pole-vaulting higher on Thursday.

At market close, the investment platform provider’s shares are up 9.30%, trading at $1.88. This follows a sharp share price fall on Wednesday after a surprise move to remove certain directors from the Raiz board. Catching shareholders off guard, the Raiz share price tumbled 13.1%.

Getting outsted by the founder and CEO

Investors of Raiz must feel as though yesterday’s selloff was overdone as the share price regains today.

The surprise announcement sprung on shareholders entailed a ‘Section 249D Notice’ from BBH-GL Nominees Pty Ltd. For context, this company is associated with Raiz’s founder and CEO, George Lucas.

According to the share registry, Mr Lucas holds 5.12% of total shares on issue through his holding company. Because of this, Lucas is able to propose the removal of all or certain directors.

According to the release, the proposal is to remove 3 out of the 4 other board members. This includes Nina Finlayson, Kevin Moore, and Kelly Humphreys. Undoubtedly, such an unpredictable move has introduced volatility to the Raiz share price.

Upon receipt of the notice, the Raiz directors have 21 days to call a general meeting. Additionally, a further 21 days’ notice of the meeting is required to be given to shareholders. In trying to fit within these constraints, the meeting must also be held within 2 months of the company receiving the notice.

Unfortunately, shareholders still remain in the dark as to why Mr Lucas has proposed the swift removal of these directors.

The announcement finished by stating further details will be provided in due course.

Raiz share price snapshot

The Raiz share price has performed exceptionally over the past 12 months. Specifically, this Aussie fintech has surged 133% over the past year.

As a result of the phenomenal performance, the company now commands a $150 million market capitalisation.

The post Raiz (ASX:RZI) share price rebounds 10% after move to boot out directors appeared first on The Motley Fool Australia.

More reading

• RAIZ Invest (ASX:RZI) share price crashes 16% amid leadership fight
• Raiz (ASX:RZI) share price rockets on FY21 results
• One Delta lockdown winner and 2 other rocketing ASX shares
• 5 ASX shares to hold for 5 years
• Here’s why the Raiz (ASX:RZI) share price is storming 8% higher today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 S&P/ASX 200 Index (ASX: XJO) had a pretty disappointing day today, finishing down around 0.55% to 7,486 points.

But rather than crying over spilled milk, let’s instead check out the ASX 200 shares that topped the trading volume charts this Thursday

3 of the most traded ASX 200 shares this Thursday

Whitehaven Coal Ltd (ASX: WHC)

ASX 200 mining company Whitehaven Coal is our first share to check out today. This Thursday has seen an impressive 13.50 million Whitehaven shares change hands. There is no recent news or announcements out of the company this week.

However, the Whitehaven share price has been on fire lately. Not only is the Whitehaven share price up a healthy 1.14% today, but it’s also rocketed around 20% over the past week, as my Fool colleague Kerry covered earlier today. It’s likely this surge in value is behind the large number of shares trading today.

South32 Ltd (ASX: S32)

ASX 200 diversified miner South32 is next up today. This company has seen a sizeable 17.21 million of its shares swap hands this Thursday. Again, there is no major news out of the company we can point to today for an easy explanation.

But South32 is another company that has recently been on a roll. It closed up 0.31% today to $3.20 a share, but it’s also seen gains of roughly 10% over the past week or so.

Combine this with South32’s recent penchant for share buybacks, and we have probably found why this company is present on this list today.

Telstra Corproation Ltd (ASX :TLS)

Our most-traded ASX 200 share today goes to telco Telstra. Telstra comes out on top this Thursday with a hefty 20.73 million shares bought and sold.

Unlike the above two companies, we can probably blame some selling pressure for Telstra’s elevated level of trading today. Telstra shares finished the day down a nasty 1.03% to $3.85 after falling as much as 1.8% earlier today to $3.82 a share. Even so, this telco is still up an impressive 29% year to date in 2021 so far.

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

More reading

• ASX 200 down, Flight Centre rises, Redbubble falls
• Here are the top 10 ASX 200 shares on Thursday
• The Whitehaven Coal (ASX:WHC) share price is up 20% in the last week
• Energy shares are the only ASX 200 sector on the rise this Thursday
• ASX 200 midday update: BHP sinks, Flight Centre expansion

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation 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 S&P/ASX 200 Index (ASX: XJO) fell by 0.5% today to 7,486 points.

Here are some of the highlights from the ASX:

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre announced an Asian expansion update today.

It said that it’s going to launch its corporate travel FCM business in Japan, which it said was the world’s fourth largest corporate travel market, with a joint venture with Tokyo-based NSF Engagement Corporation.

Flight Centre said that Japan was a significant addition to the global FCM network, which now extended to 97 countries.

The Flight Centre managing director Graham Turner said:

Japan is a key corporate market because of its size and importance within the global economy as a business hub for multi-national companies.

By securing an equity position in this crucial market, we will enhance our ability to win new local, regional and multi-national accounts, while also gaining greater control over and enhancing the service we provide to our existing customers with operations in Japan. We believe this will become a very significant business and a valuable addition to our Asian network, which also includes businesses in China including SAR Hong Kong, India, Singapore and Malaysia.

The ASX 200 company said it has invested during the pandemic so that it can recover quicker and drive future organic growth.

It has won corporate business accounts in FY21 that had pre-COVID annual spending of more than US$1.4 billion.

The Flight Centre share price ended 0.5% higher.

Redbubble Ltd (ASX: RBL)

Redbubble attracted investor attention today after it was revealed that co-founder Martin Hosking sold 5 million shares for $21 million.

The e-commerce share said that Mr Hosking sold shares to meet financial commitments. Mr Hosking confirmed he remains committed as a long-term significant shareholder of Redbubble.

Mr Hosking will continue to hold 39.5 million Redbubble shares, which is 14.43% of the business.

The net proceeds of the sale, after tax, will be used to close out an existing loan facility.

The Redbubble share price fell over 1%, though it was down materially more at the start of the day’s trading.

Senex Energy Ltd (ASX: SXY)

The Senex Energy share price dropped 2% today.

It announced a gas sales agreement with the Australian packaging and paper manufacturer Opal. The deal is for up to six years and up to 12 petajoules of natural gas.

The initial four-year agreement starts on 1 January 2023. It will supply 8 PJ of natural gas at a fixed price, in line with current market levels. The two businesses have also signed a contract extension of up to two years and up to a further 4 PJ of sales.

Senex managing director and CEO Ian Davies said:

The agreement broadens Senex’s reach in supplying natural gas throughout the east coast, with our Surat Basin gas to support industry in New South Wales for the first time.

Senex looks forward to building another strong, long-term and mutually beneficially relationship that support jobs, the economy and helps meet Australia’s energy demand as it transitions to a lower carbon future.

The post ASX 200 down, Flight Centre rises, Redbubble falls appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares on Thursday
• A2 Milk and Zip were among the most traded ASX shares last week
• Energy shares are the only ASX 200 sector on the rise this Thursday
• Why BHP, NIB, Northern Star, & Redbubble shares are tumbling lower
• ASX 200 midday update: BHP sinks, Flight Centre expansion

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 Flight Centre Travel 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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The EML Payments Ltd (ASX: EML) share price has had a stellar month thus far.

Shares in the payments company have surged more than 8% in the last 30 days.

Let’s take a look at what’s been prompting investors to bid the EML share price higher.

What’s been moving the EML share price?

There have been several catalysts that have helped propel the EML share price higher this past month.

Shares in the payment company rebounded strongly after providing an update on its acquisition of Prepaid Financial Services (PFS).

EML informed investors that it had identified historical deficiencies in cash for dormant e-money accounts in PFS.  

Bullish price action in the buy-now-pay-later sector and commentary from the Reserve Bank of Australia also had the potential to move EML’s shares.

The largest catalyst that shook the EML share price was the company’s full-year result for FY21.

How did EML perform in FY21?

For FY21, EML reported a record year with growth across a majority of its financial metrics.

Highlights from the company’s full-year report included;

• Group gross debit volume (GDV) up 42% to $19.7 billion.
• Record revenue of $194.2 million, an increase of 60% on FY20.
• Record underlying group earnings before interest, tax, depreciation, and amortisation (EBITDA) of $53.5 million, up 65%.
• Gross profit margins of 67%, down from 73% in FY20 due to a shift in business segments.
• New business GDV pipeline of $10.5 billion, with more than 300 prospects.
• Costs and provisions totalling $11.4 million in FY21 in relation to the Central Bank of Ireland regulatory investigation.

For FY22, EML is expecting to generate underlying EBITDA in a range of between $58 million to $65 million.

In response, the EML share price tanked more than 5% after releasing its report.

However, shares in the payment company recovered strongly, finishing the day more than 4% higher.

Snapshot of the EML share price

Despite EML’s bullish price action this past month, it’s important to put the performance in context.

Since the start of the year, shares in the payment company are relatively flat for the year.

The EML share price was rocked earlier this year after the Central Bank of Ireland voiced concerns over the company’s anti-money laundering financing compliance.

Several brokers remain bullish on their outlook for the EML share price.

Leading broker UBS has slated the payments company as a buy, with a share price target of $4.80.

At market close, shares in EML finished the day, trading at around $4.17, down 0.48%.

The post Here’s why the EML (ASX:EML) share price is up 8% in the last month appeared first on The Motley Fool Australia.

More reading

• The EML Payments (ASX:EML) share price is rated as a strong buy
• 2 ASX shares rated as strong buys by brokers
• EML (ASX:EML) share price plunges 8% after reporting record results
• When was the worst ever day on the EML (ASX:EML) share price chart?
• Why the EML (ASX:EML) share price is gaining today

Motley Fool contributor Nikhil Gangaram 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 EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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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Bitcoin (CRYPTO: BTC) is likely the first word you’ll hear if you ask anyone about cryptocurrencies.

That’s because Bitcoin holds the claim of being the world’s first crypto. It was launched all the way back in 2009 by someone (or a group of folks) going by the name of Satoshi Nakamoto.

Fast forward 12 years and Bitcoin still has by far the largest market cap of any digital token, currently US$929.3 billion.

That’s more than twice its closest rival, Ethereum (CRYTPO: ETH), which has a market valuation of US$442.2 billion.

But it’s not Bitcoin or Ether driving a fresh wave of FOMO among crypto investors. It’s the fast-rising altcoins these investors are hoping to make rapid gains from.

The altcoins leaving Bitcoin in their wake

Altcoins, if you’re not familiar, simply refer to any cryptocurrency that’s not Bitcoin. And altcoins can potentially soar in price in a matter of hours. And, of course, they can fall just as quickly.

With that precaution in mind, we look at the top-performing altcoin over the past 24 hours and the top weekly performer.

First, the best performer of the past 7 days is Arweave (CRYPTO: AR).

Arweave is up 134% over the past week, compared to a 3% gain for Bitcoin. That comes despite Arweave tumbling 10% over the past 24 hours. (There’s that stomach-churning volatility for you.)

At the current price, the token has a market valuation of US$2.0 billion.

So what the heck does Arweave do? According to CoinMarketCap:

Arweave is a decentralised storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralised web with a number of community-driven applications and platforms.

Moving on to the best daily performer, we have FTX Token (CRYPTO: FTT).

FTT is up 41% since this time yesterday, giving it a current market valuation of US$6.5 billion.

CoinMarketCap tells us that, “FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019″.

It’s currently trading at all-time highs of US$68.84, having just rocketed past the previous record high of US$61.25, set on 8 May this year.

Now, if you’re feeling that old FOMO itching, I’ll also point out that by 25 June it had fallen to US$23.36, a loss of more than 62%.

What the experts are saying

Taking a look beyond just Bitcoin, Yoni Assia, CEO of online exchange eToro said (quoted by Bloomberg):

There’s no doubt that there’s a lot of excitement in crypto. You can definitely see it within the numbers in the industry, whether it’s looking at total volumes or looking at growth of companies… We’ve seen a lot of exuberance in the market.

Sam Bankman-Fried, CEO of crypto exchange FTX said: “There’s generally been pretty positive crypto sentiment recently. NFTs have helped lead the revival, and the crash from May is further in the rearview mirror.”

Michael O’Rourke, chief market strategist at Jones Trading, noted the record levels of global government stimulus and sounded the following words of caution:

With all of this money floating around, we should not be surprised that there are people paying exorbitant amounts of money for digital pet rocks and an endless amount of other digital assets that can be easily created.

Digital pet rocks? Or digital gold?

The jury remains out on that question.

But there is no question that Bitcoin and altcoins can lose value just as quickly, or quicker, than they can potentially gain it.

The post These 2 altcoins are leaving Bitcoin in the dust this week appeared first on The Motley Fool Australia.

More reading

• Billionaire investor: Bitcoin going to zero but this ASX share should shine
• Bitcoin vs Ethereum: Which is better for me?
• The next Bitcoin? Why investors are bullish on fast-rising altcoin Cardano
• Bitcoin rockets past US$50,000 as analysts eye October price catalyst
• Up 50% in a month! Bitcoin is back over US$50,000

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. 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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I like to keep an eye on substantial shareholder notices. This is because these notices give you an idea of which shares large investors, asset managers, and investment funds are buying or selling.

Two notices that have caught my eye are summarised below. Here’s what this fund manager has been buying:

Bapcor Ltd (ASX: BAP)

According to a change of interests of substantial holder notice, AustralianSuper has been increasing its stake in this auto parts retailer again.

The notice reveals that the super fund has added approximately 3.5 million shares to its holding over the last three months. As a result, AustralianSuper now owns a total of 27,645,723 Bapcor shares, which is the equivalent of an 8.15% stake.

AustralianSuper was purchasing shares as recently as 25 August when it picked up 279,699 shares at an average of $7.48 per share. This is higher than the latest Bapcor share price of $7.23, giving investors an opportunity to buy in at a cheaper price than what AustralianSuper paid.

The team at Macquarie certainly see this share price weakness as a buying opportunity. Last week the broker put an outperform rating and $8.55 price target on Bapcor’s shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another change of interests of substantial holder notice reveals that Challenger Ltd (ASX: CGF) has been buying more of this online tradie marketplace provider’s shares.

According to the notice, Challenger has picked up ~1.3 million shares over the last few months. This has brought its holding to a total of 7,909,443 shares, which equates to a 6.08% stake.

The fund manager’s last purchase came on 31 August when it paid $155,375 for 42,649 shares. This represents an average of $3.64 per share, which is broadly in line with where the Hipages share price trades today.

The good news for Challenger is that the team at Goldman Sachs see plenty of upside from here. They recently retained their buy rating and lifted their price target on Hipages’ shares to $4.35.

The post Fund managers are buying these ASX shares appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares I like from reporting season: expert
• Why Zip (ASX:Z1P) and this fantastic ASX growth share could be buys
• Hipages (ASX:HPG) share price soars 6% on realised guidance
• 3 rapidly growing ASX tech shares to buy
• Brokers name 2 mid cap ASX shares as buys

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 shares of and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor and Challenger 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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Today, the S&P/ASX 200 Index (ASX: XJO) shaved a bit off the top. The benchmark index finished 0.55% lower to 7,485.7 points. BHP Group Ltd (ASX: BHP) weighed on the Aussie index as it went ex-dividend today.

However, the question is: which shares from the top 200 delivered the most green on the ASX today? Here are the ten stocks that delivered the biggest gains while the market fell:

Top 10 ASX 200 shares countdown today

Looking at the top 200 listed companies, Dicker Data Ltd (ASX: DDR) was the biggest gainer today. Shares in the tech distribution company increased 4.89% as directors buy more shares. Find out more about Dicker Data here.

The next best performing ASX share out of the top 200 today was Altium Ltd (ASX: ALU). The software company’s shares climbed 3.71% to $31.06 today despite no announcements. Uncover the latest Altium information here.

Today’s top 10 biggest gains were made in these ASX 200 shares:

ASX-listed company	Share price	Price change
Dicker Data Ltd (ASX: DDR)	$14.055	4.89%
Altium Ltd (ASX: ALU)	$31.135	3.96%
ALS Ltd (ASX: ALQ)	$12.835	3.09%
NextDC Ltd (ASX: NXT)	$13.75	3.07%
Summerset Group Holdings Ltd (ASX: SNZ)	$15.10	3.00%
Pro Medicus Ltd (ASX: PME)	$61.96	2.77%
Yancoal Australia Ltd (ASX: YAL)	$2.37	2.60%
Viva Energy Group Ltd (ASX: VEA)	$2.195	2.57%
Adbri Ltd (ASX: ABC)	$3.48	2.35%
Orica Ltd (ASX: ORI)	$13.30	2.23%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

More reading

• Why Altium, Catapult, Dicker Data, & PolyNovo shares are charging higher
• Energy shares are the only ASX 200 sector on the rise this Thursday
• Top brokers name 3 ASX shares to sell today
• Dicker Data (ASX:DDR) share price surges 5% as directors buy the dip
• Which ASX 300 shares are the biggest winners and losers on Thursday?

Motley Fool contributor Mitchell Lawler owns shares of Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium, Dicker Data Limited, and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Altium, Dicker Data Limited, and Pro Medicus 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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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s share trading service CommSec tells us the most popular US shares that its Australian user base has been buying and selling over the previous week.

Since CommSec is one of the most widely used brokers in Australia, this trading data gives us an interesting window into what kinds of US shares Aussie investors are taking a closer look at.

So here are the top 10 US shares from CommSec last week. This week’s data covers 23-27 August.

Alibaba shoots to the top of the pile

1. Alibaba Group Holding Ltd (NYSE: BABA) – representing 3.9% of total trades with an 86%/14% buy-to-sell ratio.
2. Tesla Inc (NASDAQ: TSLA) – representing 3.2% of total trades with a 65%/35% buy-to-sell ratio.
3. GameStop Corp (NYSE: GME) – representing 2.9% of total trades with a 78%/22% buy-to-sell ratio.
4. Apple Inc (NASDAQ: AAPL) – representing 2.7% of total trades with a 74%/26% buy-to-sell ratio.
5. Microsoft Corporation (NASDAQ: MSFT) – representing 1.9% of total trades with an 86%/314% buy-to-sell ratio.
6. Pfizer Inc (NYSE: PFE)
7. NVIDIA Corp (NASDAQ: NVDA)
8. Amazon.com, Inc. (NASDAQ: AMZN)
9. AMC Entertainment Holdings Inc (NYSE: AMC)
10. Alphabet Inc Class C (NASDAQ: GOOG)

What can we learn from these trades?

Chinese e-commerce giant Alibaba has shot to the top of the pile as CommSec’s most popular share last week. The Chinese behemoth behind Alipay, AliExpress, and Ant Financial took home a total of almost 4% of all CommSec international trades last week.

It even pipped the perennially popular Tesla, the electric car and battery manufacturer helmed by Elon Musk. What’s more, an overwhelming majority of 86% of all trades were on the buy side.

It’s not hard to see why ASX investors might have suddenly developed an appetite for Alibaba shares. This company has been on a steep decline all year, losing around 24% of its value over 2021 so far. Alibaba is also down more than 44% from its all-time high from October last year. It seems a number of Australian investors are sensing a bargain buy here.

In other news, we still see enduring demand for shares like GameStop and AMC, long held up as examples of ‘meme stocks’. GameStop shares are now up almost 40% over just the past fortnight, so it’s easy to see where this optimism is coming from.

We also see continuing interest in the big tech blue-chip shares like Apple, Microsoft, Amazon, and Google-parent Alphabet. These companies have generally been hitting new all-time highs of late, but that’s nothing new for the FAANGs.

Finally, it’s interesting to see vaccine maker Pfizer here too. With 86% of trades on the buy side, it seems some investors may be so inspired by a recent vaccine that they have been compelled to invest in the company too.

The post ASX investors were buying Alibaba, Pfizer shares last week appeared first on The Motley Fool Australia.

More reading

• ASX 200 bank shares could struggle due to lockdowns – expert
• The CBA (ASX:CBA) share price is now trading on a 3.46% fully-franked dividend yield
• Top broker picks best ASX 200 bank shares to buy coming out of reporting season
• How does the NAB dividend compare to its sector?
• Better buy: Amazon or every Nasdaq stock?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares), Pfizer, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, Nvidia, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and Nvidia. 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 Whitehaven Coal Ltd (ASX: WHC) share price has rallied 20% in the last week to a 9-month high of $2.72 during trading today.

At today’s close, Whitehaven shares were changing hands for $2.66, up 1.14%.

What’s driving the Whitehaven Coal share price?

Coal prices are surging in China, with prices for premium hard coking coal lifting by US$9.18/t to US431.03/t on Wednesday, according to Fastmarkets MB.

Elsewhere, China’s most-traded coking coal futures on the Dalian Commodities Exchange rallied to touch the highest levels on record.

The bullish performance of the Whitehaven Coal share price broadly coincides with the recent strength behind coal prices.

Encouraging FY21 results

Whitehaven Coal reported its FY21 full-year results on Thursday, 26 August.

At face value, the company reported a weak financial performance. It had revenues of $1.56 billion, down from $1.72 billion in FY20, and a net loss after tax before significant items of $87.3 million.

The seemingly negative financial performance was weighed down by significant expenses during the year, totaling $650 million, relating to asset impairments.

On the day the results were announced, the Whitehaven Coal share price tumbled 3.60% to $2.14 on open. However, buyers stepped up to push it well into positive territory, closing the session 4.95% higher at $2.33.

Whitehaven Coal managing director and CEO Paul Flynn described the year as one with “highs and lows both operationally and in terms of factors outside our control”.

“In the reporting period, cyclical lows in coal price were replaced with record highs, with the gC NEWC index currently trading around US$170 per tonne,” he said.

“While we had our hands full putting the more difficult geological conditions at Narrabri behind us, we also saw our largest production asset, Maules Creek, achieve record annual ROM production of 12.7Mt.”

Looking ahead, Flynn commented that the “outlook is better than what we have seen for some time, with the strong price environment putting us on an accelerated timeline to de-leveraging the balance sheet and returning cash to shareholders”.

Whitehaven Coal share price snap shot

It’s been a good year on the ASX for Whitehaven, with shares up by more than 60% so far.

In the past 12 months, the Whitehaven Coal share price has gained a whopping 206%.

The post The Whitehaven Coal (ASX:WHC) share price is up 20% in the last week appeared first on The Motley Fool Australia.

More reading

• Whitehaven (ASX:WHC) share price rebounds 5% on earnings
• Here are the top 10 ASX 200 shares on Thursday
• Whitehaven (ASX:WHC) share price sinks on falling FY21 revenues
• Here are the top 10 ASX 200 shares on Monday
• Whitehaven (ASX:WHC) share price lifts 6% ahead of earnings this week

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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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

This buy now pay later (BNPL) provider was the most traded share on the CommSec platform again last week. However, despite 60% of the volume coming from buyers, it couldn’t stop the Zip share price from edging 1% lower over the period. This followed the release of full year results which revealed strong sales growth but a large loss.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This ETF was popular with investors once again last week, making it the second most traded ASX share. The vast majority of these trades came from buyers, with approximately 84% of the volume attributable to the buy side. They will have been pleased to see the Betashares Nasdaq 100 ETF record its fourth consecutive weekly gain.

Afterpay Ltd (ASX: APT)

The next most popular ASX share was this BNPL provider. Although Afterpay is in the process of being acquired by Square, investors continue to trade its shares in high numbers. The buying and selling was largely split, with buyers making up 52% of the volume. Last week Afterpay released its full year results and revealed a 78% increase in revenue. Like Zip, it also posted a significant loss.

Flight Centre Travel Group Ltd (ASX: FLT)

This travel agent was heavily traded last week, with buyers making up 60% of the volume. They will have been delighted to have seen the Flight Centre share price surge 23% higher over the five days. This followed the release of its full year results for FY 2021. Although the company posted a big loss, investors were pleased with news that it expects to reach profitability again during FY 2022.

A2 Milk Company Ltd (ASX: A2M)

The fifth most traded share last week on CommSec was this struggling infant formula company. And although over two-thirds of the volume came from the buy side, it couldn’t stop the A2 Milk share price from sinking 10% over the period. This followed the release of a disappointing full year result and expectations for another tough year in FY 2022.

The post A2 Milk and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• Refundid rides the Afterpay (ASX:APT) wave with $3m funding round
• ASX 200 midday update: BHP sinks, Flight Centre expansion
• Why the A2 Milk (ASX:A2M) share price has underperformed the ASX 200 in the last year
• Flight Centre (ASX:FLT) share price falls despite expansion news

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 shares of and has recommended AFTERPAY T FPO, BETANASDAQ ETF UNITS, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended A2 Milk and Flight Centre Travel 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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