Category: Stock Market

Today, the S&P/ASX 200 Index (ASX: XJO) finished the day in the green. The benchmark index added 0.32%, climbing to 7,562.6 points.

The question is: which shares delivered the most generously to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Pilbara Minerals Ltd (ASX: PLS) was the biggest gainer today. Shares in the company increased 11% following a push for further electrification on the back of the latest IPCC climate report. Find out more about Pilbara Minerals here.

The next biggest gaining ASX share today was PointsBet Holdings Ltd (ASX: PBH). The sports betting company surged 10.2% to $11.17. Uncover the latest PointsBet details here.

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

ASX-listed company	Share price	Price change
Pilbara Minerals Ltd (ASX: PLS)	$2.33	10.95%
PointsBet Holdings Ltd (ASX: PBH)	$11.14	9.86%
Orocobre Ltd (ASX: ORE)	$9.33	8.74%
Galaxy Resources Ltd (ASX: GXY)	$5.30	8.61%
Whitehaven Coal Ltd (ASX: WHC)	$2.30	5.99%
Zimplats Holdings Ltd (ASX: ZIM)	$24.70	4.09%
Sims Ltd (ASX: SGM)	$16.12	3.4%
Afterpay Ltd (ASX: APT)	$143.27	3.24%
Netwealth Group Ltd (ASX: NWL)	$15.89	2.98%
James Hardie Industries PLC (ASX: JHX)	$49.32	2.90%

Our top 10 ASX 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 shares today appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares were the most traded this Tuesday
• Here’s why ASX 200 lithium shares surged higher on Tuesday
• Which shares are leading the ASX 300 on Tuesday?
• Why ASX lithium shares are surging to new highs today
• Pilbara Minerals (ASX: PLS) share price up 9% to all-time high

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Netwealth, and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Netwealth. The Motley Fool Australia has recommended Pointsbet 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 S&P/ASX 200 Index (ASX: XJO) is having a decent, if not inspiring, day of trading this Tuesday. At market close, the ASX 200 is a fair 0.32% to 7,563 points after making a fresh new all-time high of 7,576.3 points earlier this morning.

But let’s now take a deeper look into the ASX 200 shares that are topping the charts today in terms of trading volumes.

3 ASX 200 shares flying around the markets today

Telstra Corporation Ltd (ASX: TLS)

Our first ASX 200 share is the telco giant Telstra. Today, a hefty 13.1 million telstra shares traded on the share market.

This is probably a result of the telco hitting a new 52-week high this morning. Telstra shares rose all the way up to $3.88 a share earlier today, before subsequently cooling off a little. Telstra finished the day at $3.86, up a still-robust 0.92% for the day.

Novonix Ltd (ASX: NVX)

ASX 200 graphite and battery company Novonix is next up on this list. This materials share has had a dramatic resumption of trading today after a recent share price halt. After outlining a capital raising program and an investment by the US oil giant Phillips 66 (NYSE: PSX), the Novinix share price resumed trading today.

And it was something to behold. At market close, Novonix shares finished at $3.43 a share, up 13.58%. This is probably the reason why a substantial 14.7 million NVX shares traded today.

Pilbara Minerals Ltd (ASX: PLS)

And last but certainly not least we have ASX 200 lithium producer Pilbara Minerals. Pilbara tops the ASX 200 charts today in terms of trading volume – and by a mile too. A staggering 33.7 million Pilbara shares were traded today.

Once again, this seems to be the result of a dramatic jump in this company’s valuation today. At market close, Pilbara finished up a whopping 10.95% higher to $2.33 a share. This seems to be in response to some love from broker JPMorgan, which has upgraded its outlook on the entire ASX lithium sector.

The post These 3 ASX 200 shares were the most traded on the share market this Tuesday appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 lithium shares surged higher on Tuesday
• Which shares are leading the ASX 300 on Tuesday?
• Why ASX lithium shares are surging to new highs today
• The Telstra (ASX:TLS) share price just hit another new 52-week high
• Why BlueBet, James Hardie, Megaport, & Novonix shares are racing higher

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen owns shares of JPMorgan Chase and 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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S&P/ASX 200 Index (ASX: XJO) lithium shares soared today amid the release of a report magnifying the risks of climate change. The report looks set to recharge the global push towards renewable energy.

Shares in both Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) finished the day trading more than 8% higher than their previous closing prices. But it was Pilbara Minerals Ltd (ASX: PLS) who led the pack. Its share price gained 10.95% on Tuesday.

And while it’s not part of the ASX 200, fan favourite Vulcan Energy Resources (ASX: VUL) shares also gained 6.94%.

It’s difficult to say what caused the gains.

However, they might have been tied to renewed interest in fighting climate change, driven by a worrying report out of the Intergovernmental Panel on Climate Change (IPCC). Or, perhaps, by JPMorgan’s enthusiasm for lithium.

Let’s take a closer look at what might be making the market excited about ASX 200 lithium shares.

What drove ASX 200 lithium shares higher on Tuesday?

IPCC report

First off the bat is the report released by the IPCC today that United Nations secretary-general António Guterres described as “a code red for humanity”.

The report found in order to limit global warming to 1.5 degrees, we need to reduce our use of fossil fuels.

It also found Australia is already affected by climate change. Our shorelines are eroding and our fire seasons are becoming more deadly. These trends are set to worsen if carbon emissions aren’t limited, the report found.

Of course, that may have pushed the conversation towards topics like electric vehicles and lithium-ion battery power.

Lithium is crucial in the push for renewable energy storage. To many, it also presents a way of lessening the world’s reliance on fossil fuels.

Maybe talk of the future helped push ASX 200 lithium shares higher today.

Bullish on lithium

Additionally, ASX 200 lithium shares may have been boosted by JPMorgan’s lithium outlook.

As The Motley Fool Australia reported earlier today, the broker foresees a bright future for lithium producers.

JPMorgan also upped its long-term lithium spodumene price by 31%. It expects it to reach $850 per tonne in the future.

The post Here’s why ASX 200 lithium shares surged higher on Tuesday appeared first on The Motley Fool Australia.

More reading

• Which shares are leading the ASX 300 on Tuesday?
• Why the Orocobre (ASX:ORE) share price is up 9% to an all-time record high on Tuesday
• Why ASX lithium shares are surging to new highs today
• Pilbara Minerals (ASX: PLS) share price up 9% to all-time high
• ASX 200 midday update: James Hardie hits record high, Pilbara Minerals rockets

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 Zip Co Ltd (ASX: Z1P) share price was on form again on Tuesday and continued its positive run.

The buy now pay later (BNPL) provider’s shares climbed 1.5% to end the day at $7.99.

This latest gain means that the Zip share price is now up an impressive 20% since the start of the month.

Why is the Zip share price up 20% in 10 days?

Investors have been bidding the Zip share price higher this month following news that rival Afterpay Ltd (ASX: APT) is to be acquired by US payments giant Square.

This has sparked hopes that Zip may also receive a takeover approach of its own in the near future. Particularly given how another larger BNPL rival, Klarna, is rumoured to have been building up a strategic stake in the company.

Is it too late for investors to buy its shares?

The good news is that the team at Citi still see a fair bit of value in the Zip share price at the current level.

This month the broker retained its buy rating and $8.90 price target on the company’s shares. This is despite its belief that the Afterpay-Square deal has mixed implications for Zip.

Commenting on the news, Citi said: “We see mixed read-throughs for Zip from Square’s takeover of Afterpay – on the one hand it increases the takeover appeal for Zip, especially given the fast growing US business. However, arguably the Afterpay sale speaks to the importance of scale especially given increasing competition and our concern is that the combination of Square and Afterpay increases the medium-term risk for Zip given it increases.”

Based on the current Zip share price of $7.99, Citi’s price target implies potential upside of just over 11% over the next 12 months.

The post Up 20% in 10 days: Can the Zip (ASX:Z1P) share price keep rising? appeared first on The Motley Fool Australia.

More reading

• Afterpay and Zip were among the most traded ASX shares last week
• Why is this fund holding onto its Afterpay (ASX:APT) shares?
• Bank dividends to rise, and Climate Change in focus. Scott Phillips on Sky News First Edition
• Why we just sold all our Afterpay (ASX:APT) shares
• Here are the 10 top moving ASX shares on Monday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD 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 Tempus Resources Ltd (ASX: TMR) share price stormed more than 14% higher in Tuesday’s session.

Shares in the gold explorer received a boost after the company released promising drill results.

Let’s take a look at what Tempus announced.  

Tempus share price soars on drill results

The Tempus share price is flying after releasing the first assay results from its 2021 drilling program at Elizabeth Gold Project in Canada.

In particular, the company noted a bonanza-grade intersection in hole EZ-21-04.

According to Tempus, the intersection returned 4 metres at 31.2 grams per tonne of gold from 122 metres. This included 1.5 metres at 52.1 grams per tonne of gold from 123 metres and 0.50 metres at 72 grams per tonne of gold from 124 metres.

EZ-21-04 is part of a group of the first four drill-holes of the 2021 program, which were designed to intersect ore shoots at the southwest vein at Elizabeth.

Tempus noted that 14 drill holes have been completed so far at Elizabeth with multiple assays pending.

Tempus President and CEO Jason Bahnsen commented:

Drilling at Elizabeth continues to generate very high-grade intersections over robust widths. We will be receiving further assay results soon and we’re very excited to see the results as we continue to expand the Elizabeth resource envelope.

Tempus’ update noted that the company’s technical team continue to be encouraged by what they are seeing in the drill core. Meantime, drilling continues to systematically explore down dip of the southern and northern ore shoots as well as drill testing along strike to the north.

More on the Tempus share price

Tempus is a dual-listed gold explorer with active exploration projects in Australia, Canada and Ecuador.

The company’s flagship project is its Blackdome-Elizabeth Gold Project located in Southern British Columbia. Tempus is currently midway through its drill program at the site.

The Tempus share price received a boost recently after the company reported positive survey results early last week.

Shares in the gold explorer have been rather volatile in 2021. Including today’s price action, the Tempus share price is around 10% higher for the year.

At market close on Tuesday, shares in Tempus are 10.42% higher for the day at 26.5 cents. The Tempus share price was up more than 14% earlier in the session, hitting an intra-day high of 27.5 cents.

The post Tempus Resources (ASX:TMR) share price up 14% on drill results appeared first on The Motley Fool Australia.

More reading

• Tempus Resources (ASX:TMR) share price jumps 19% on survey results

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. 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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On Monday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Aurizon Holdings Ltd (ASX: AZJ)

According to a note out of Morgan Stanley, its analysts have downgraded this rail freight operator’s shares to an underweight rating and cut the price target on them to $3.92. This is despite Aurizon delivering a full year result ahead of its expectations and its belief that its outlook is positive. The reason for Morgan Stanley’s bearish stance is the company’s exposure to fossil fuels. It fears this will weigh on the performance of its shares as many investors exclude it from investment mandates for ESG reasons. The Aurizon share price is trading at $3.99 today.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

Another note out of Morgan Stanley reveals that its analysts have retained their underweight rating but increased their price target on this regional bank’s shares to $10.40. Although Morgan Stanley is expecting a strong result from the bank this month, it isn’t enough for a change of rating. It expects FY 2022 to be a tougher year and feels its shares are expensive at the current level. The Bendigo and Adelaide Bank share price is fetching $10.86 on Tuesday.

Macquarie Group Ltd (ASX: MQG)

Analysts at Citi have retained their sell rating and $140.00 price target on this investment bank’s shares. According to the note, the broker has been pleased with Macquarie’s performance this year and expects a strong profit in FY 2021. However, it has concerns over the sustainability of its earnings. As a result, it doesn’t see enough value in its shares at the current level to warrant a more positive rating. The Macquarie share price is trading at $159.07 today.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• Why Aurizon, Brainchip, Ramelius, & Transurban shares are dropping
• Is now a good time to buy Bendigo and Adelaide Bank (ASX:BEN) shares?
• If you invested $1,000 in Macquarie (ASX:MQG) shares a decade ago, here’s what it would be worth now
• Aurizon Holdings (ASX:AZJ) share price wobbly on FY21 earnings
• ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs

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 shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Aurizon Holdings 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 latest findings from the most comprehensive climate report released to date have rattled ASX 200 shares today. What has been described as a ‘code red for humanity’, the report produced by the Intergovernmental Panel on Climate Change (IPCC) has unearthed some concerning conclusions.

What is the climate report and what does it say?

In short, the latest IPCC report is not good news for the environment. The report estimates that global warming will reach 1.5 degrees Celsius by 2030 based on our current trajectory. Additionally, the study found that global temperatures have increased by 1.1 degrees since the industrialisation period. Unfortunately, Australia is even worse than the global average, with a 1.4 degree elevation.

Key takeaways:

• Global temperatures likely to increase 1.5 degrees Celsius by 2030 without action,
• Reforestation and carbon removal would be needed to get back under 1.5 degrees,
• Severe draughts, floods, and fires expected to increase,
• Australia needs to aim for Net-zero in the 2030s,
• Call for no more oil, coal, or gas exploration or infrastructure.

Eerily, the IPCC’s climate report lands as catastrophic wildfires tear through Greece.

Why does this matter for ASX 200 shares

This could have a significant impact on the Australian share market, with many companies having exposure to natural resources reliant industries such as coal mining, oil drilling, and gas extraction, which are all energy-intensive activities with high carbon emissions.

ASX 200 shares such as Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL), and Ampol Ltd (ASX: ALD) are all being sold off today following the news.

Professor Lesley Hughes, who is a Pro-Vice-Chancellor and biologist at Macquarie University, said:

There must be no new oil, coal or gas exploration or infrastructure. We have got to stop subsidising fossil fuels. We’ve got to electrify everything and then run everything from renewable energy. We’ve got to change our diets.

Similarly, United Nations secretary-general Antonio Guterres highlighted there should not be any new coal plants built after this year. Meanwhile, the existing coal plants should be phased out by 2030 in OECD countries.

Obviously, if tighter regulations are put on oil, gas, and coal companies, this would likely cause pressure on the share prices of ASX companies in those industries.

On the other hand, Guterres also said, “By 2030, solar and wind capacity should quadruple and renewable energy investments should triple to maintain a net-zero trajectory by mid-century.”

Such a rapid growth proposition could create a positive tailwind for renewable companies. Some ASX shares outside the top 200 that are geared towards renewables are enjoying a boost today. These names include Calix Ltd (ASX: CXL), Lion Energy Ltd. (ASX: LIO), and Genex Power Ltd (ASX: GNX)

The post What could the latest climate report mean for ASX 200 shares? appeared first on The Motley Fool Australia.

More reading

• Santos (ASX:STO) share price slides as UN calls “death knell” on fossil fuels
• Woodside (ASX:WPL) share price struggles amid climate ‘code red’
• 5 things to watch on the ASX 200 on Tuesday
• Santos (ASX:STO) share price lower amid fresh revelations
• Woodside (ASX:WPL) share price edges higher despite falling oil price

Motley Fool contributor Mitchell Lawler owns shares of Genex Power Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 200 investors aren’t used to the Wesfarmers Ltd (ASX: WES) share price doing anything except rising in recent months. Wesfarmers has been one of the ASX 200’s best performing blue chips in 2021 so far, and indeed over the past few years.

The Wesfarmers share price is currently up more than 23% year to date, including almost 2.5% in the past week (almost worth the same as Wesfarmers’ current annual dividend yield).

It’s also up more than 35% over the past year, and a very healthy 108% over the past 5 years.

And today is no different it seems. After shaking off some midday wobbles and blues, Wesfarmers shares are currently up 0.58% to $63.73. That’s just a whisker away from the company’s all-time high of $63.95 that we saw just yesterday.

So what’s behind all of these new highs?

Well, a number of things have been attracting investors’ attention to this industrial conglomerate. Most notable was Wesfarmers’ $687 million bid for the pharmaceutical company Australian Pharmaceutical Industries Ltd (ASX: API) that was made public last month.

Wesfarmers owns coal mines, chemical plants and a clothing line. This is in addition to its most famous assets in Bunnings Warehouse, OfficeWorks, Kmart and Target. But it doesn’t yet have significant exposure to pharmacies. If this deal eventually goes ahead, that would obviously change.

But we did get some other news today that might be influencing the Wesfarmers share price.

Wesfarmers share price rises, new digital push to thank?

According to a report in The Australian today, Wesfarmers has poached Australia Post’s head of consumer and community Nicole Sheffield. Ms Sheffield will join Wesfarmers in November. She will reportedly be filling a “newly created digital data role reporting directly to [Wesfarmers CEO] Rob Scott”.

This role represents an expansion of Wesfarmers’ digital data strategy, with Ms Sheffield set to oversee retail data across Bunnings, Kmart and Target.

The report quotes a Wesfarmers spokesperson as stating the following on this development:

This is a new role for Wesfarmers, reflecting the strategic importance and growth potential of our data and digital strategies, and Nicole will work in close partnerships with the divisions.

We might find out more about Wesfarmers’ new digital data push when the company reports its FY21 earnings on 27 August.

At the current Wesfarmers share price, the company has a market capitalisation of $72 billion. It also has a price-to-earnings (P/E) ratio of 38.3, and a trailing dividend yield of 2.6%.

The post Wesfarmers (ASX:WES) share price rises amid latest digital push appeared first on The Motley Fool Australia.

More reading

• These 10 ASX 200 shares hit new 52-week highs this Monday
• Pricing-power shares like Wesfarmers (ASX:WES) help fight inflation: expert
• Wesfarmers (ASX:WES) share price slips amid green hydrogen agreement
• ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs
• 2 ASX 200 shares lifting to record highs before full-year results

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of 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 Santos Ltd (ASX: STO) share price is slipping today amid the release of a report on climate change the United Nations secretary-general António Guterres described as “a code red for humanity” and a “death knell for… fossil fuels”.

The report is by the Intergovernmental Panel on Climate Change (IPCC). It found the globe is already 1.1 degrees warmer than it was during industrialisation. Australia has warmed 1.4 degrees in that time.

The Santos share price has spent nearly all of today in the red. It is currently $6.33, 1.48% lower than its previous close.

The drop comes amid calls from the Australasian Centre for Corporate Responsibility​ (ACCR) for ASX investors to demand their investments shift away from fossil fuel expansion.

Let’s take a closer look.

Climate change is already here – IPCC

The Santos share price is firmly in the red today.

Meanwhile, fossil fuel producers and the governments supporting them are being urged to stop after the IPCC found the earth will likely warm to 1.5 degrees higher than pre-industrial times within 10 years.

The IPCC found Australia is already experiencing extreme weather events as a result of climate change.

Australia’s fire season is getting longer and more catastrophic – and will continue to worsen. Declining rainfall is affecting southern Australia, meaning droughts will be more common. Meanwhile, cyclones in Australia’s north will become less common but more disastrous.

Extreme cold snaps will also worsen, as will flood events. Snow cover and depth have already fallen and will continue to do so.  

Additionally, our beaches are already washing away thanks to rising sea levels.

In response to the IPCC’s report, ACCR director of climate and environment Dan Gocher called out Santos for continuing to invest in fossil fuel projects. He said:

It’s time to vote against the re-election of obstructive directors, link remuneration to emissions targets, and end the greenwashing…

None of which would be good for the Santos share price.

Gocher has previously described Santos’ (and Oil Search‘s) ESG measures as “climate vandalism and greenwashing of the highest order”, saying:

Santos is supposed to be targeting net zero emissions by 2040, yet it is now taking on Oil Search’s significant expansion plans through Papua LNG in Papua New Guinea and the Pikka oil field in Alaska.

Santos intends to rely almost exclusively on unproven carbon capture and storage at Moomba to deliver its 2040 net zero target. But Santos has refused to set targets for its Scope 3 emissions which are by far the largest proportion of its carbon footprint.

While the report is likely not affecting the Santos share price right now, the effects of climate change may do so in the not-so-distant future.

What about the federal government?

UN secretary-general António Guterres also stated the Australian government needs to work towards lowering carbon emissions urgently. He commented:

All nations, especially the G20 and other major emitters, need to join the net-zero emissions coalition and reinforce their commitments with credible, concrete and enhanced nationally determined contributions and policies before the [UN Climate Change Conference of the Parties] in Glasgow… Countries should also end all new fossil fuel exploration and production, and shift fossil-fuel subsidies into renewable energy…

COVID-19 recovery spending must be aligned with the goals of the Paris Agreement. 

The federal government’s Gas-Fired Recovery plan is an attempt to financially recover from COVID-19.

However, The Australia Institute found the plan is “plagued by a lack of transparency” and will increase Australia’s emissions. It also found the plan is unlikely to work.

Santos share price snapshot

Today’s poor performance compounds the woes of Santos shares this year.

They’ve now fallen 1.6% year to date. However, the Santos share price is 9.4% higher than it was this time last year.

The post Santos (ASX:STO) share price slides as UN calls “death knell” on fossil fuels appeared first on The Motley Fool Australia.

More reading

• Santos (ASX:STO) share price lower amid fresh revelations
• 5 things to watch on the ASX 200 on Monday
• 43% surge: ASX 200 shares that could rake it in this year
• 5 things to watch on the ASX 200 on Friday
• Oil Search (ASX:OSH) share price sliding amid fresh merger concerns

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 S&P/ASX 300 Index (ASX: XKO) is relatively flat today, despite some companies charging strongly on Tuesday.

At the time of writing, the ASX 300 is up 0.22% to 7,549 points. However, the index reached another record high at 7,568 points during market open.

Let’s take a look at which top ASX 300 shares are some of the biggest movers today.

Novonix Ltd (ASX: NVX)

First up, Novonix is taking up the number 1 spot on the ASX 300, surging 18.54% higher to $3.58. That means that the company’s share price is up almost 60% in just 1 month.

Novonix shares came out of a trading halt today following an important market announcement. The company advised that United States energy giant, Phillips 66 has agreed to a strategic investment. As such, the Phillip 66 will acquire a 16% interest in Novonix.

Pilbara Minerals Ltd (ASX: PLS)

Next up, Pilbara Minerals has also moved higher, accelerating 11.43% to a record high of $2.34.

With no news out of the company, a possible catalyst for its strong share price rise is soaring lithium prices. The battery-making ingredient is up 1.6% week-on-week to a month to date average price of 94,000 yuan per tonne (A$19,807).

In addition, JPMorgan put an overweight rating on Pilbara Minerals, raising its price by 56% to $2.50 per share. Based on the current share price, this implies an upside of roughly 7%.

Galaxy Resources Limited (ASX: GXY)

Another lithium company, Galaxy Resources is pushing 9.63% higher to $5.35, also an all-time high for the company. Again, the company has not released any news to the market, but its shares are hopping on the back of strong lithium prices.

What about the ASX 300 fallers?

Heading the other way, Ramelius Resources Limited (ASX: RMS) is down 5.28% to $1.525 following weakness in the spot price of gold. This has also affected St Barbara Ltd (ASX: SBM) which is shedding 4.67% to $1.635 and Silver Lake Resources Limited. (ASX: SLR), down 3.85% to $1.375.

The post Which shares are leading the ASX 300 on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Why ASX lithium shares are surging to new highs today
• Why BlueBet, James Hardie, Megaport, & Novonix shares are racing higher
• Pilbara Minerals (ASX: PLS) share price up 9% to all-time high
• ASX 200 midday update: James Hardie hits record high, Pilbara Minerals rockets
• VAS share price history: What caused the biggest ups and downs?

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

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