Category: Stock Market

Some investors think buying ASX shares that have risen is crazy talk because the “gains have already been made”.

But that’s spurious logic, for at least two reasons.

First is that stocks have no memory. They don’t care whether they have risen or fallen. Only the future prospects matter.

Second is that if a stock already has upward momentum it means many others think the business is heading in the right direction. The whole point of investing is to own shares that other people want.

So now that we’ve set that record straight, let’s take a look at two ASX shares creeping up at the moment that experts are naming as buys:

Starting ‘a new uptrend’

Sandfire Resources Ltd (ASX: SFR) shares have soared 33% since late October.

And Fairmont Equities boss Michael Gable reckons there’s more where that came from.

“Sandfire Resources is the largest pure-play copper producer on the ASX,” Gable told The Bull.

“We remain positive about the prospects for copper as we expect lower supplies and sustained global demand to result in higher prices during the next few years.”

Many of his peers agree. According to broking platform CMC Invest, 10 out of 18 analysts are rating Sandfire as a buy right now.

“The stock is now starting to break above a three-year resistance level on the chart, so we believe it’s likely to start a new uptrend.”

The ASX shares up 30% in 4 months

Similar to Sandfire, Hub24 Ltd (ASX: HUB) shares have rocketed 30% since the start of November.

The investment platform provider is still a buy for Marcus Today equity analyst Matthew Lattin.

“Hub24’s first half results in fiscal year 2024 saw notable increases in key metrics,” he said.

“Group underlying EBITDA of $55 million was up 10% on the prior corresponding period and statutory net profit after tax of $21.5 million was up 39%.”

The best metric though, is that investors are pouring money into the platform.

“Record half year net inflows of $7.2 billion – an increase of 26% – demonstrates strong demand for its platform services. 

“Moreover, Hub24’s strong pipeline of existing and potentially new advisers suggests promising growth prospects.”

The post 2 ASX shares with ‘promising growth prospects’ just starting to creep up now appeared first on The Motley Fool Australia.

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More reading

• One ASX mining sector at risk of more pain, and one ready to soar!
• Why Accent, Austal, Newmont, and Sandfire shares are plunging today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Why ARB, Bravura, Hub24, and Suncorp shares are storming higher

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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More reading

• ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright
• Leading brokers name 3 ASX shares to buy today
• Why Calix, Genex, Life360, and Spartan Resources shares are rising
• Is it too late to buy Westpac shares at a fresh 52-week high?
• Why Life360 shares can keep rocketing

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The team at Goldman Sachs has just updated its highly coveted conviction list for the Asia-Pacific (APAC) region.

These are the companies that the broker is most bullish on and expects to outperform.

There have been four new additions to the APAC list this month, with two making exits.

While the majority of its conviction list picks come from elsewhere in the region, one of the new additions is an ASX 200 tech stock.

That tech stock is cloud accounting platform provider Xero Ltd (ASX: XRO).

What is the broker saying about this ASX 200 tech stock?

Goldman has added Xero to its conviction list with a buy rating and $152.00 price target. This implies approximately 12% upside for investors from current levels.

It explains its bullish view on Xero as follows:

Xero is a Global Cloud Accounting SaaS player, with a particular focus on its core 3X3 markets – accounting, payroll and payments in Australia, the US & UK. Kane believes Xero, with its refreshed management team, is very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM. Following the company’s pivot to profitable growth and corresponding earnings ramp, he sees an attractive entry point into a global growth story, with Xero his preferred large-cap technology name in ANZ.

Other ASX 200 stocks that are on the APAC conviction list are rare earths producer Lynas Rare Earths Ltd (ASX: LYC) and supermarket giant Woolworths Group Ltd (ASX: WOW).

For Lynas, the broker has a buy rating and $7.40 price target, which offers potential upside of 19%.

As for Woolworths, it has a buy rating and $40.40 price target on its shares. This suggests potential upside of approximately 23% for investors.

The post Goldman Sachs has added this ASX 200 tech stock to its APAC conviction list appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• Here’s how the ASX 200 market sectors stacked up this week
• Here are the top 10 ASX 200 shares today
• Brokers name 3 ASX shares to buy now
• Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Let’s be frank, most 30-year-olds probably don’t make a habit of regularly checking up on their superannuation accounts. Let alone honing them for the best possible returns. In fact, there are probably far too many 30-year-olds who don’t even know how much they have in super.

If you’re 30 and this description doesn’t fit your circumstances, congratulations. Here at the Motley Fool, we think everyone should be fully invested (pardon the pun) in managing their super. No matter their age. After all, super is our money. And it remains our best ticket to a comfortable retirement here in Australia.

Last month, we discussed how the average and median superannuation balances for someone aged between 30 and 34 were $51,400 and $38,681 respectively.

But if you’re gunning for a comfortable retirement, how much exactly should you have in your super fund? That’s what we’ll be digging into today.

How much should a 30-year-old have in superannuation?

The latest data from the Association of Superannuation Funds of Australia (ASFA) tells us that it is estimated that in order to achieve a ‘comfortable’ retirement, a single retiree would need an annual income of $50,981 in today’s dollars. That assumes the retiree owns their own home.

For couples, a combined income of $71,724 was estimated to be the minimum for a comfortable retirement.

According to superguru.com.au, this means that a 30-year-old should have a superannuation balance of $66,500 today if they wish to achieve that ‘comfortable retirement’ status. In today’s dollars, this will enable our 30-year-old to hit the $595,000 in retirement savings that a single person will need if they wish to enjoy a comfortable retirement.

It’s assumed that the final super balance will also allow our single retiree to enjoy at least a part Age Pension. It also assumes that they will be drawing down their super fund’s capital during retirement.

Given that this ideal figure of $66,500 is nowhere near the average super balance, let alone the median, for someone aged 30-34 today, it seems our retirement system has a lot of work to do.

The post How much superannuation should I have by age 30? appeared first on The Motley Fool Australia.

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More reading

• Should you buy this ASX 200 stock for its 5%+ dividend yield?
• Seeking retirement income from ASX bank shares at 52-week highs? What I’d buy instead
• ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright
• Leading brokers name 3 ASX shares to buy today
• CBA shares rally to new record high. Is $196 billion too much for this banking giant?

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

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Metcash Ltd (ASX: MTS) shares have been out of form over the last 12 months.

During this time, the ASX stock has lost approximately 8% of its value.

As a comparison, the ASX 200 index has charged 5.5% higher over the same period.

While this is disappointing for shareholders, it could be a buying opportunity for investors looking for a source of income.

That’s because the decline in the Metcash share price means that its forecast dividend yield is now comfortably higher than the market average.

What are analysts forecasting for this ASX stock?

According to a note out of UBS last month, its analysts have responded to the company’s plan to acquire Superior Foods by retaining its buy rating with a $4.00 price target.

Based on the current Metcash share price of $3.70, this implies potential upside of 8.1% for investors over the next 12 months.

But it gets better. The broker is forecasting fully franked dividends per share of 20 cents in both FY 2024 and FY 2025. This equates to generous dividend yields of 5.4% for both years and stretches the total potential 12-month return to approximately 13.5%.

Is anyone else bullish?

UBS isn’t alone with its positive stance on this ASX stock.

The team at Ord Minnett has an accumulate rating and $4.00 price target on Metcash’s shares as well.

And with the broker also expecting a 20 cents per share fully franked dividend this year, it is predicting a 13.5% total return for investors.

All in all, these brokers appears to believe that Metcash could be an ASX 200 stock to consider buying if you’re on the lookout for a nice combination of capital gains and income.

The post Should you buy this ASX 200 stock for its 5%+ dividend yield? appeared first on The Motley Fool Australia.

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More reading

• Seeking retirement income from ASX bank shares at 52-week highs? What I’d buy instead
• The ASX shares I’m buying for a stress-free retirement
• Guess which ASX 200 stock is predicted to pay an 8% dividend yield in 2025
• A once-in-a-decade chance to get rich from ASX 200 shares?
• 3 Australian value stocks to buy right now

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

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A number of ASX bank shares are hitting 52-week highs, but I’m not calling them buys at this price. There are other ASX dividend shares I’d look to for income.

ANZ Group Holdings Ltd (ASX: ANZ) shares, National Australia Bank Ltd (ASX: NAB) shares and Westpac Banking Group (ASX: WBC) shares all hit 52-week highs today.

Buying ASX bank shares at such high levels doesn’t strike me as good value. Not only are they trading at a high price/earnings (P/E) ratio, but it also means the dividend yields have been pushed lower.

Instead, there are other two main groups of shares I’d look at for opportunities.

High dividend yield

With the banks’ yields now smaller than before, I think there are plenty of other companies capable of producing better dividend yields, and those stocks may be able to grow the dividends in the coming years.

I think some companies that could pay big yields in the coming years include GQG Partners Inc (ASX: GQG), Medibank Private Ltd (ASX: MPL), Telstra Group Ltd (ASX: TLS), Universal Store Holdings Ltd (ASX: UNI), Accent Group Ltd (ASX: AX1), Duxton Water Ltd (ASX: D2O) and Metcash Ltd (ASX: MTS).

I believe all of these ASX dividend shares can pay more substantial dividends over time than the big banks.

It could also be worth looking at real estate investment trusts (REITs) because they offer stable rental income and good yields, while the prospect of falling interest rates could boost valuations. Four of my favourites include Rural Funds Group (ASX: RFF), Centuria Industrial REIT (ASX: CIP), Charter Hall Long WALE REIT (ASX: CLW) and Healthco Healthcare and Wellness REIT (ASX: HCW).

Dividend growers

I like businesses that are capable of growing profit over time because that can drive both the underlying value of the business as well as the dividend.

However, these sorts of businesses normally have a lower dividend yield because the market is pricing in longer-term growth expectations. Plus, those businesses are typically retaining more profit to invest for growth.

I think there’s a good chance that dividend growers can deliver better total returns than ASX bank shares over the next three or five years.

Some of my favourites include Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), Brickworks Limited (ASX: BKW), Duxton Water, Sonic Healthcare Ltd (ASX: SHL), Wesfarmers Ltd (ASX: WES), Pinnacle Investment Management Group Ltd (ASX: PNI) and Johns Lyng Group Ltd (ASX: JLG).

The post Seeking retirement income from ASX bank shares at 52-week highs? What I’d buy instead appeared first on The Motley Fool Australia.

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More reading

• 2 cheap ASX dividend shares I’d snap up in a heartbeat!
• If I were 60 I’d buy these ASX shares for dividends
• Is it time for me to change my tune about ANZ shares?
• Buy these ASX dividend stocks for big 5%+ yields
• Better buy in March 2024: Wesfarmers stock vs JB Hi-Fi stock

Motley Fool contributor Tristan Harrison has positions in Accent Group, Brickworks, Duxton Water, Johns Lyng Group, Metcash, Pinnacle Investment Management Group, Rural Funds Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, Johns Lyng Group, Pinnacle Investment Management Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Brickworks, Pinnacle Investment Management Group, Rural Funds Group, Telstra Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has recommended Accent Group, Johns Lyng Group, Metcash, and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) gold shares are rocketing higher today.

In afternoon trade on Monday, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller gold stocks outside of the ASX 200 – is up 4.5%.

Here’s how these leading ASX 200 gold shares are tracking today:

• Northern Star Resources Ltd (ASX: NST) shares are up 5.8%
• Newmont Corp (ASX: NEM) shares are up 1.2%
• De Grey Mining Ltd (ASX: DEG) shares are up 6.4%
• Ramelius Resources Ltd (ASX: RMS) shares are up 5.5%
• Gold Road Resources Ltd (ASX: GOR) shares are up 7.7%
• Evolution Mining Ltd (ASX: EVN) shares are up 6.1%%
• Bellevue Gold Ltd (ASX: BGL) shares are up 3.6%

For some context, the ASX 200 has given back its earlier intraday gains (which saw the benchmark index hit new record territory) to be trading just about flat at this same time.

Why are gold miners smashing the benchmark on Monday?

ASX 200 gold shares are enjoying a stellar run today, with bullion hitting US$2,086 per ounce (AU$3,192/oz).

That’s up from US$2,044 per ounce on 29 February. And it sees the gold price up almost 15% from the recent lows of US$1,820 per ounce on 5 October.

A range of factors have conspired to help boost the gold price.

Those include near-record levels of central bank buying, bullion’s safe haven status in times of uncertainty, and the outlook for lower global interest rates as inflation across most of the developed world continues to come off the boil.

And with these factors expected to continue, the outlook for ASX 200 gold shares in 2024 is looking bright.

Can ASX 200 gold shares outshine the market in 2024?

While the performance of individual miners is impacted by numerous factors like mining costs, production levels and hedging commitments, the gold price has a decisive impact on the profitability of ASX 200 gold shares.

On that front, TD Securities forecasts that the yellow metal could gain another 10% from current levels to reach US$2,300 per ounce.

According to the investment bank (quoted by The Australian Financial Review):

It is hoped that the combination of lower [US Treasury] yields, which are likely to attract discretionary investors into futures and ETFs, along with strong physical markets in China and robust central bank buying, will move gold to new highs.

Indeed, we believe that the yellow metal is set to move into $US2300+ territory, once there is more certainty surrounding the timing and magnitude of the pending Fed pivot.

TD Securities’ analysts cautioned that its price target of US$2,300 per ounce may take some time to play out yet.

Citing February’s 2.6% contraction in the US Institute for Supply Management manufacturing index, the analysts said, “There will still need to be more evidence that the economy is slowing sufficiently to facilitate a steady drop in inflation before this rally becomes sustainable and moves to our target.”

Looking ahead to the pending release this week of February’s US ISM services, payrolls, wages and unemployment data, TD Securities said:

We suspect that data will be weaker, but not so poor as to drive yields much lower. As such, the market will have to wait for our $US2300+ trading target to manifest a while longer.

If bullion does rally to new record highs of US$2,300 per ounce on the back of falling yields, ASX 200 gold shares could deliver more strong outperformance ahead.

The post ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright appeared first on The Motley Fool Australia.

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More reading

• Guess which are the 2 newest members of the ASX 100 index
• 5 things to watch on the ASX 200 on Monday
• These ASX 200 shares could rise 20% to 50%
• Here are the top 10 ASX 200 shares today
• 34 ASX 200 shares with ex-dividend dates next week

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

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With so many shares to choose from on the ASX, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Life360 Inc (ASX: 360)

According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this location technology company’s shares with an improved price target of $14.20. Goldman was very impressed with Life360’s FY 2023 results and continues to believe that its subscription business is undervalued. As a result, the broker sees potential advertising revenue upside as effectively a free option. The Life360 share price is trading at $12.35 today.

Neuren Pharmaceuticals Ltd (ASX: NEU)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $27.00 price target on this pharmaceutical company’s shares. The broker was pleased with Neuren’s sales update and expectations for calendar year 2024. Bell Potter estimates that its Daybue product will generate A$1 billion in licensing income over the next 6 years. The Neuren share price is fetching $19.77 on Monday.

South32 Ltd (ASX: S32)

Analysts at Macquarie have upgraded this mining giant’s shares to an outperform rating with an improved price target of $3.40. This follows news that the company has agreed to sell its Illawarra metallurgical operation. It is supportive of the sale and highlights that the company will be left with a focus on aluminium and base metals. These are areas which it believes have favourable outlooks. The South32 share price is trading at $2.97 this afternoon.

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

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More reading

• Why Calix, Genex, Life360, and Spartan Resources shares are rising
• Why Life360 shares can keep rocketing
• 5 things to watch on the ASX 200 on Monday
• Which ASX shares delivered the biggest profit jumps of the earnings season?
• Here’s how the ASX 200 market sectors stacked up this week

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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After hitting a new record high this morning, the S&P/ASX 200 Index (ASX: XJO) has swung back to a loss at the time of writing. At present, the ASX 200 is nursing a hit of 0.07%, leaving the index at 7,740 points. That’s after hitting the new all-time high of 7.769.1 points earlier today. But let’s talk about the Commonwealth Bank of Australia (ASX: CBA) share price.

Just like the ASX 200, this Monday has seen the CBA share price hit a fresh new all-time high. In this ASX 200 bank stock‘s case, the new record stands at $118.55 a share.

At present, CBA shares have cooled off a little, but are still up 0.52% for the day at $117.97 a share.

At this new share price, CBA’s market capitalisation now stands at a whopping $196.53 billion. By comparison, the next-largest of the big four ASX 200 banks is currently National Australia Bank Ltd (ASX: NAB), which has a market cap of just $105.9 billion.

So CBA is almost twice the size of its nearest banking rival.

CBA shares and a monster market cap

The share price gains of Commonwealth Bank have been eye-catching in recent months. Since the end of October, CBA is now up more than 22.5%. The shares are also up 3.8% over 2024 to date, as well as up 19.65% over the past 12 months.

But many shareholders might be wondering if things have gotten a little too hot for CBA. After all, we’ve recently covered a flurry of ASX experts who have labelled the CBA share price as expensive and even “difficult to justify“.

But today, let’s discuss a simple reason why I think CBA shares are too expensive right now.

As most investors would know, there are only two fundamental ways you can achieve a return on your investment with ASX shares. The first is capital growth of the company’s share price. The second, dividends (and franking).

CBA shares are incontrovertibly expensive right now, no way around it. They trade on a huge premium compared with any other ASX bank stock (and most other banks around the world), both on a price-to-earnings (P/E) ratio basis, and using book value.

Normally, high P/E ratios and valuations can be potentially justified if a company is growing and has strong prospects for future growth.

But I don’t believe we can say that about CBA. The bank’s earnings report from last month showed CBA increasing its operating income by 0.2% over the six months to 31 December. Its cash net profit after tax actually fell by 3% to $5.02 billion.

I don’t expect a turnaround to consistent, meaningful growth in profits and earnings anytime soon. Nor, as a matter of fact, does CBA itself. In its earnings, CBA CEO Matt Comyn warned investors that “we expect financial strain to continue in 2024”.

So for CBA sales to continue to rise going forward, investors will probably need to stretch what they are paying for each dollar of CBA earnings even further from its already exceptional valuation.

That’s not something I think anyone should bet on.

Is there anything attractive about this ASX 200 bank stock right now?

That leaves us with CBA’s dividends.

ASX banks have a well-earned reputation for paying meaty dividend income. Historically, that has been the case with CBA as well.

But right now, the bank’s recent share price surge has left it with a trailing dividend yield of just 3.86% (albeit fully franked). That is rather low for an ASX bank. Especially when you consider that CBA’s rivals like Westpac Banking Corp (ASX: WBC) and ANZ Group Holdings Ltd (ASX: ANZ) have current dividend yields of 5.34% and 6.07% respectively.

So put simply, someone buying CBA shares today has to hope that investors will keep increasing the bank’s valuation despite stagnant profits and earnings, all while continuing to receive a dividend yield of under 4%.

There’s not much in that mix that would benefit any investor. As such, I indeed think that $196.5 billion is too much for CBA shares and potential buyers should look elsewhere.

The post CBA shares rally to new record high. Is $196 billion too much for this banking giant? appeared first on The Motley Fool Australia.

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More reading

• 5 ASX 200 shares that boosted their dividends this earnings season
• 3 things about CBA stock every smart investor knows
• Why the CBA share price premium is ‘difficult to justify’
• Up 20% in 4 months, where’s next for the CBA share price?
• Here’s the CBA dividend forecast through to 2026

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

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Every quarter, S&P Dow Jones Indices announces changes to the S&P/ASX Indices.

On Friday, the financial market indices provider announced its latest changes that will become effective prior to the open of trading on Monday 18 March.

These changes were revealed following its March quarterly review and will see some big names entering and exiting the major indices.

Earlier today, we looked at the new additions and the exits from the benchmark ASX 200 index.

Now let’s see what changes are being made to the illustrious ASX 100 index.

ASX 100 index changes

According to the release, travel agent giant Flight Centre Travel Group Ltd (ASX: FLT) and high-flying health imaging technology provider Pro Medicus Limited (ASX: PME) will be joining the index in two weeks.

They will be replacing alumina producer Alumina Ltd (ASX: AWC) and Region Re Ltd (ASX: RGN). It was previously known as Shopping Centres Australasia Property Group and is an internally managed shopping centre focused real estate investment trust.

While being kicked out of the ASX 100 index could be a blow to Region, it probably won’t mean much for Alumina. That’s because it could be leaving the ASX boards in the not so distant future.

Last week, the company received a non-binding, indicative, and conditional proposal from Alcoa Corporation (NYSE: AA), and the two parties entered into a transaction process and exclusivity deed.

What else was announced?

In other news, there has been one change made in the ultra-exclusive ASX 50 index.

Joining the index later this month will be insurance giant QBE Insurance Group Ltd (ASX: QBE). It will be taking the place of gold miner Newmont Corporation (ASX: NEM), which has been demoted.

The post Guess which are the 2 newest members of the ASX 100 index appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• Passive income watch: The ASX stocks dishing out the biggest dividend boosts this earnings season
• Which ASX shares delivered the biggest profit jumps of the earnings season?

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

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