The S&P/ASX 200 Index (ASX: XJO) is soaring higher on the heels of this afternoon’s interest rate announcement from the Reserve Bank of Australia (RBA).

The benchmark Aussie index was up 0.8% at 2:30pm AEST. In the minutes that followed, the index rocketed up another 0.5% to currently be up 1.3% for the day.

This came after the RBA reported that it was holding Australia’s official interest rate steady at 4.35%. The interest rate paid on Exchange Settlement balances was also unchanged at 4.25%.

The gains posted by the ASX 200 are somewhat muted as the pause was widely priced into the markets. Though analysts have been upping the odds of a potential rate hike from RBA amid sticky inflation.

While the rapid series of 13 rate hikes instituted by the central bank since May 2022 has brought inflation down from the near 8% levels witnessed at the end of 2022, we’re not out of the woods quite yet.

Here’s what’s happening.

RBA interest rate announcement boosts ASX 200 shares

Commenting on the decision to keep rates on hold that looks to be buoying ASX 200 investor sentiment, the RBA board noted that while data shows inflation Down Under continues to moderate, it’s not coming down as fast as the RBA had been forecasting.

The consumer price index (CPI) increased 3.6% over the year to the March quarter. That’s down 4.1% from the increase recorded over the year to December. But it remains above the RBA’s target range of 2% to 3%.

Of potential concern for ASX 200 investors awaiting a rate cut, the board highlighted that underlying inflation was higher than headline inflation and declined by less. This was largely driven by services inflation, which the board says “remains high and is moderating only gradually”.

While higher interest rates have been working, the RBA said there’s continuing excess demand in Australia’s economy.

As for the labour market and wages, the board said:

Conditions in the labour market have eased over the past year but remain tighter than is consistent with sustained full employment and inflation at target. Wages growth appears to have peaked but is still above the level that can be sustained given trend productivity growth. 

What can investors expect ahead for interest rates?

Whether ASX 200 investors can expect interest rates to rise, fall or remain steady over the rest of the year remains highly uncertain.

“The economic outlook remains uncertain and recent data have demonstrated that the process of returning inflation to target is unlikely to be smooth,” the RBA said.

The RBA’s central forecasts are for inflation to return to its 2% to 3% target range in the second half of 2025 and to the midpoint of that range in 2026. 

The enduring services inflation was flagged as a key uncertainty. The board expects services inflation to ease more slowly than it previously forecast.

And, in case ASX 200 investors want any more uncertainty, the board added:

There also remains a high level of uncertainty about the overseas outlook. While there has been improvement in the outlook for the Chinese and US economies, and many global commodity prices have picked up, geopolitical uncertainties, including those related to the conflicts in the Middle East and Ukraine, remain elevated.

Reiterating the RBA’s resolution to return inflation to its target range, the board cautioned it believes it will be “some time yet” before this happens. The members added they “will remain vigilant to upside risks”.

So, could the ASX 200 be hit with another rate hike ahead?

Maybe.

According to the board:

The path of interest rates that will best ensure that inflation returns to target in a reasonable timeframe remains uncertain and the board is not ruling anything in or out.

Invest accordingly.

The post ASX 200 rocketing higher on RBA interest rate decision appeared first on The Motley Fool Australia.

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• Why the ASX 200 is predicted to leap higher in 2024 despite higher interest rates
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
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• These are my top ASX 200 share picks for growth right now

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.

It’s been an awful few months for Telstra Group Ltd (ASX: TLS) shares. The ASX 200 telco hit a new 52-week low of $3.57 a share last week. That’s the lowest Telstra has traded at in almost three years.

Today, Telstra shares are pretty much sitting at that new low. They are currently asking $3.60 each after dipping to $3.58 earlier this morning.

At the current stock price, Telstra is now down a nasty 9.2% over 2024 to date. The telco is also nursing a 16.6% loss over the past 12 months. Check that out for yourself below:

We’ve looked at Telstra’s recent woes quite extensively here at the Fool over the past few months.

It seems that the apathy from ASX investors towards Telstra shares began last year when the company decided against spinning off some of its most valuable telecommunications infrastructure. It has continued ever since.

The recent news regarding Telstra’s 3G network seems to have done little to shift the dial.

Telstra, along with other Australian telcos, has been planning to shut off its legacy 3G network for many years now. 3G is a now-antiquated technology that has largely been superseded by the newer and superior (at least in terms of speed) 4G and 5G.

Telstra shares and a 3G delay

4G and 5G networks offer better download speeds and lower latencies than 3G. However, they also require far more infrastructure (towers etc.) to maintain a similar level of coverage.

This has led to 3G remaining relevant across many parts of Australia. Particularly in rural and regional areas that are yet to enjoy a full 4G or 5G rollout.

Like other telcos, Telstra has committed to ending its 3G networks so that the valuable spectrum that this network occupies can be re-utilised for other purposes. However, this plan will only be implemented once the company has ensured that all parts of Telstra’s 3G network are covered by at least 4G.

Until this week, the final shutoff date for Telstra’s 3G network was set for 30 June. However, the telco has announced this week that this date will be delayed by two months to 31 August.

According to planning to shut off its legacy 3G network from Federal Minister for Communications, Michelle Rowland, the Government has voiced concerns that some telco customers who still possess older phones may not be able to make emergency 000 calls once the 3G network is switched off.

Given the government has welcomed Telstra’s decision to postpone its 3G switch-off, perhaps these concerns are why.

It’s unclear if this decision to delay the demise of 3G is feeding into the Telstra share price this week. Saying that, Telstra shares did rise by 0.28% yesterday, and are up another 0.41% today.

No doubt investors will be hoping that the new 52-week low that we’ve recently seen proves to be a bottom for the ASX 200 telco.

The post What does the latest 3G news mean for Telstra shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Telstra Group. 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 positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you have a higher than average risk tolerance, then it could be worth checking out the ASX penny stock listed below.

Just over three years ago, this company was far from a penny stock with a share price over $15.00.

But a lot has happened since then for good and for bad, which leads us to today.

The ASX penny stock in question is sports betting company Pointsbet Holdings Ltd (ASX: PBH), which is currently changing hands for 47 cents.

Is this an ASX penny stock to buy?

The team at Bell Potter thinks that Pointsbet shares are a great option at current levels.

So much so, this morning it reiterated its buy rating on the company’s shares with a reduced price target of 63 cents.

It is worth noting that the reduction in its price target isn’t a downgrade per se. Rather, it reflects the company’s recent decision to return 39 cents per share in capital to shareholders following the completion of the sale of its US operations.

Based on the current Pointsbet share price, this new price target implies potential upside of 34% for investors over the next 12 months.

What did the broker say?

Bell Potter has been running the rule over the ASX penny stock following the sale of its US operations and believes the market is undervaluing its businesses. It explains:

We note that, at the current share price, the Australian and Canadian businesses combined are being valued at approximately $126m assuming cash of around $30m after the second capital distribution. In our view this is too low given we value the Australian business alone at $150m. A value of $126m for Australia – if we assume Canada is worth nothing – equates to an EBITDA multiple of c.8x based on our FY25 forecasts (after allocating a portion of corporate overheads). But obviously we believe Canada is worth something – as well as the Banach technology – so the actual multiple being applied to Australia is <8x.

The broker also believes that Pointsbet could be an attractive takeover target for one of its rivals. It adds:

We also believe PointsBet is a potential takeover target given the simplified structure (just Australia and Canada), the shift to cash flow/EBITDA positive, the sufficiently strong Balance Street, the proprietary technology and it being the fifth largest player in Australia. The market here is now relatively mature so in our view the only way to grow meaningfully is through consolidation and PointsBet is an obvious potential target.

The post 1 ASX penny stock to buy in May while it is still only 47 cents appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PointsBet. 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.

There have been some really big winners among S&P/ASX 200 Index (ASX: XJO) stocks over the past few years.

Of the big gainers pack, one ASX 200 stock leaps to the forefront for me. Particularly as it’s involved in an unloved industry in a world moving towards decarbonisation.

Yet, as has been clearly demonstrated since Russia’s invasion of Ukraine, this “dirty’ industry remains vital for most nations that wish to keep their citizens’ lights on and their fridges cool during the lengthy global transition towards reliable and affordable cleaner energy.

And despite Australia’s own sustainable energy plans, global coal demand is booming, led by new coal-fired power plants in China. India and Japan are among the other populous nations rolling out new coal power plants.

Which brings us to ASX 200 coal stock Whitehaven Coal Ltd (ASX: WHC).

A 628% gain from this ASX 200 stock

One year ago today, on 7 May 2021, you could have snapped up Whitehaven shares for $1.27 apiece.

Meaning for $10,000 you could have bought 7,874 shares for this ASX 200 stock.

May 2021 also marked the beginning of a strong upward price trend for both thermal coal (primarily used for generating electricity) and coking coal (primarily used in steel manufacturing).

In May 2021 thermal coal was trading for around US$98 per tonne.

By September 2022 that same tonne was worth a record high of around US$440 per tonne.

This helped drive the ASX 200 stock to its own all-time highs at the time.

While the Whitehaven share price has retraced from those records, you’re unlikely to hear any long-term investors complaining.

At the time of writing on Tuesday afternoon, Whitehaven shares are swapping hands for $7.95 apiece.

That means the 7,874 shares you bought with your $10,000 investment three years ago are worth $62,598.30.

But wait.

Let’s not forget the dividends.

Adding in that passive income

There’s a good reason Whitehaven shares are popular among passive income investors.

Since March 2022 the ASX 200 stock has paid out a total of five dividend payments, all but one fully franked.

Adding them up and this equates to $1.29 in total dividend payouts you would have received if you bought the stock three years ago.

That’s assuming you spent those as they came in rather than reinvesting, which could have netted you even more gains.

So, adding those five dividend payouts to the $7.95 current Whitehaven share price and the total accumulated value of Whitehaven shares since May 2021 comes to $9.24 a share.

Meaning the 7,874 shares of this ASX 200 stock you bought three years ago today would now be worth a whopping $72,755.76!

The post 1 ASX 200 stock that turned $10,000 into $72,756 in just 3 years appeared first on The Motley Fool Australia.

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• Should ASX investors buy the dip in Whitehaven stock?

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.

Any concern about a more cautious tone from the Reserve Bank of Australia is being shrugged off by the S&P/ASX All Ordinaries Index (ASX: XAO) in afternoon trading. However, the odd ASX All Ords share is failing to catch the rising tide today.

One hapless company missing out on enthusiasm is Lindsay Australia Ltd (ASX: LAU). Shares in the transport and logistics operator are down 9% as investors respond to a fresh update from the company.

At the time of writing, Lindsay shares are swapping hands at 87 cents apiece. The steep fall means Lindsay shares are now at their lowest price in nearly 14 months, as shown in the chart above.

Wet weather weighs down guidance

Lindsay Australia achieved record results in what was dubbed a ‘transformative year’ for the company. In FY23, underlying EBITDA rose 50.2% to $90.3 million on the back of a $34.9 million uplift in EBITDA from its transport segment.

A little more recently, on 26 February, the company shared its first-half results for FY24. Within this report, the company said it was ‘on track’ to achieve around 13% underlying EBITDA growth from the prior financial year, pointing toward the lower end of a $102 million to $108 million range.

Today, the ASX All Ords share is getting scorched after sharing an update to its prior guidance.

As the update outlines, Lindsay Australia expects underlying EBITDA to land between $88 million and $94 million for the full financial year. At the midpoint, the revised guidance represents a 10.8% reduction from the lower bound of the prior estimate.

Why the change? There are a few factors that have sent Lindsay off track.

Firstly, ‘significant and persistent’ rainfall put a dent in horticultural output in the second half. Secondly, Lindsay Australia has faced numerous disruptions to its rail operations, the worst of which involved a four-week stoppage in March that extended into April.

Lastly, the company has suffered impacts on its ‘operational efficiency and utilisation’ from freight flow disruptions.

The team at Lindsay Australia anticipated an improvement in conditions. However, a rebound in volumes has failed to materialise post-Easter.

Is there a bright side for the ASX All Ords share?

There still might be a positive takeaway from today’s update.

The issues impacting earnings estimates were described as ‘short-term challenges’. That’s music to the ears of a long-term investor, if true.

Moreover, the longer-term view was painted as a positive one. For example, high soil moisture could help boost horticultural volumes moving forward. Migration and population growth were also earmarked as drivers for the refrigerated logistics segment.

While prone to recency bias, it’s worth remembering this little ASX All Ords share is up 143% over the last five years.

The post Why this ASX All Ords share is dumping 9% on earnings outlook appeared first on The Motley Fool Australia.

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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 positions in and has recommended Lindsay Australia. The Motley Fool Australia has recommended Lindsay Australia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Liontown Resources Ltd (ASX: LTR) shares are having a positive session on Tuesday.

In afternoon trade, the lithium developer’s shares are up over 1% to $1.25.

This means that the company’s shares are now up almost 15% over the last two weeks.

Should you follow suit and pick up the lithium stock right now? Let’s see what one leading analyst is saying.

Are Liontown shares worth buying?

According to a note out of Bell Potter, its team made a visit to the company’s Kathleen Valley Lithium Project last week and was pleased with what it saw. The broker commented:

The visit highlighted various strategies implemented to reduce commissioning, ramp-up and ongoing operational risks. These strategies cut across mining ramp-up, plant design and applying learnings from extensive feasibility works and other prominent lithium operations in Western Australia. First production is on schedule for mid-2024.

Bell Potter notes that the company is de-risking its ore supply and processing plant ramp-up. It explains:

The open pit should supply 3Mt ore by the end of 2025, substantially de-risking ore delivery to the processing plant ahead of underground mining ramp-up. Around 160kt ore has been stockpiled to date, with around 300kt of plant feed expected to be available by start-up in mid-2024. Open pit mining rates lift materially this September-October as the thick flat-lying North-West Flats orebody is reached.

In light of the above, the broker remains very positive on Liontown and its shares. The note reveals that its analysts have reaffirmed their speculative buy rating and $1.85 price target on them.

Based on the latest Liontown share price of $1.25, this implies potential upside of 48% for investors over the next 12 months.

Though, it is worth highlighting that its speculative rating means that this may be an investment that is only suitable for investors with a high tolerance for risk.

Why is the broker bullish?

Bell Potter thinks that the Kathleen Valley Lithium Project is a very attractive asset. It also notes that the company’s balance sheet is strong and expected to support Liontown through to positive cash flow. It concludes:

LTR’s 100% owned KV lithium project remains highly strategic in terms of its stage of development, long mine life and location. LTR has offtake contracts with top tier EV and battery OEMs (Ford, LG Energy Solution and Tesla). The project is on track for first production from mid-2024. Under our modelled assumptions which includes the draw-down of the $550m debt package and repayment of Ford debt, we expect that LTR is fully funded to free cash flow. LTR is an asset development company; our Speculative risk rating recognises this higher level of risk.

The post Are Liontown shares worth buying right now? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

The S&P/ASX 200 Index (ASX: XJO) is having a good session on Tuesday. In afternoon trade, the benchmark index is up 0.8% to 7,745.7 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

AGL Energy Limited (ASX: AGL)

The AGL Energy share price is up 7% to $9.96. Investors have been buying this energy company’s shares after it upgraded its earnings guidance for FY 2024. According to the release, AGL now expects its underlying EBITDA to be between $2,120 million and $2,200 million. This compares to its previous guidance of $2,025 million and $2,175 million. This represents a sizeable 56% to 61.5% increase on FY 2023’s underlying EBITDA of $1,361 million. Management advised that the update to its guidance reflects the continued strong operational and financial performance of the business since the half year results.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is up 6% to $6.85. This appears to have been driven by the release of a presentation ahead of the diversified alternative asset manager’s appearance at the 2024 Macquarie Australia Conference. In addition, the company announced that the Hon. Julia Gillard AC has agreed to Chair HMC’s Energy Transition Fund. She said: “I am excited and honoured to be appointed Chair of HMC’s Energy Transition Fund. Its design and HMC’s investment management capabilities will position the Fund to be a genuine driver of Australia’s transition to zero net carbon by 2050.”

Megaport Ltd (ASX: MP1)

The Megaport share price is up over 4% to $14.49. Investors have been buying ASX tech stocks today following another strong night for their US peers on Wall Street. In addition, the team at Citi has just reaffirmed its buy rating on the network solutions company’s shares with a $16.05 price target. This implies potential upside of approximately 11% for investors from current levels. The broker remains positive despite a softer than expected performance during the third quarter.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is up almost 11% to 87.5 cents. This morning, this lithium developer announced the discovery of a new high-grade zone at the CV13 spodumene pegmatite at the Corvette project in Canada. The CV13 spodumene pegmatite is located approximately 3 km west-southwest of the CV5 spodumene pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred.

The post Why AGL, HMC Capital, Megaport, and Patriot Battery Metals shares are racing higher appeared first on The Motley Fool Australia.

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• One ASX 200 stock that just upgraded earnings guidance (and one that downgraded)
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• Here’s how I’d aim for a tonne of passive income from $20,000 in an ASX share portfolio

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Megaport. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.