It could be a very tough day for ASX 200 energy shares on Wednesday after oil prices collapsed during overnight trade.

According to CNBC, the West Texas Intermediate (WTI) crude oil price has dropped a sizeable 5.5% to US$71.50 a barrel and the Brent crude oil price has sunk 5.2% to US$75.16 a barrel.

This could be bad news for ASX 200 energy shares Beach Energy Ltd (ASX: BPT), Karoon Energy Ltd (ASX: KAR), Santos Ltd (ASX: STO), Woodside Energy Group Ltd (ASX: WDS), which are susceptible to movements in the oil price.

What’s going on with oil prices?

Oil prices sank to a five-week low following a selloff on Wall Street amid concerns over a U.S. debt default and expectations that fuel demand could suffer if central banks in the U.S. and Europe raise interest rates again this week.

In respect to the latter, the U.S. Federal Reserve has kicked off its monetary policy meeting on Tuesday and will make a decision on interest rates overnight on Wednesday.

PVM’s oil broker, Tamas Varga, told CNBC:

The unpredictable action of central banks in their mission to tame elevated consumer and producer prices, the rhetoric and action of consuming and producing nations have all cast a rather long shadow of doubt on prospects going forward.

Craig Erlam, a senior market analyst at OANDA, also highlights that these concerns have overshadowed news that OPEC’s oil output fell in April. He said:

The post-OEPC+ gains have now been wiped out which suggests traders are now of the belief that the economic outlook has deteriorated to the extent that the output cut won’t create the deficit that was feared.

All in all, these are interesting times for oil prices and ASX 200 energy shares.

The post ASX 200 energy shares to fall after oil prices collapse appeared first on The Motley Fool Australia.

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More reading

• Why Beach, Computershare, Endeavour, and Qantas shares are dropping today
• 5 things to watch on the ASX 200 on Tuesday
• How I’d invest $1,000 in May to make easy passive income
• Woodside share price in the green as Shell offloads stake in $30 billion JV gas project
• 5 things to watch on the ASX 200 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. 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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ANZ Group Holdings Ltd (ASX: ANZ) shares were in fine form in April.

During the month, the banking giant’s shares rose a sizeable 6.2%.

As well as being far stronger than the ASX 200 index at its 1.8% gain, it also smashed what the other big four banks recorded.

Why did ANZ shares outperform other ASX 200 banks in April?

It remains unclear exactly why investors had a preference for ANZ shares last month.

In fact, the bank was actually dealt a blow in April when the ACCC revealed that it had concerns over the proposed acquisition of the banking operations of Suncorp Group Ltd (ASX: SUN).

The ACCC’s preliminary view is that the areas of competition between ANZ and Suncorp Bank that have the most potential to raise competition concerns stem from the activities in which they overlap, including: the supply of agribusiness banking, small and medium-sized enterprise (SME) banking, home loans and retail deposits (including transactions and savings accounts and term deposits). The ACCC also considers there is a higher degree of geographic overlap between ANZ and Suncorp Bank in Queensland and northern New South Wales.

However, it is worth noting that a couple of brokers spoke very positively about the bank in April. This could have given the buy-side of the equation a boost, lifting its shares in the process.

What were the brokers saying?

One of those brokers was Macquarie, which retained its outperform rating and $26.00 price target on the bank’s shares.

It believes ANZ is well-placed to benefit from improving margins and market income. It expects mortgage margin pressures to be offset by slower deposit re-pricing and a more favourable lending mix.

Over at Citi, its analysts continue to rate ANZ shares as a buy with a $27.25 price target. This suggests almost 12% upside despite last month’s gains. It commented:

ANZ remains our top pick in the sector, and we expect the lending momentum, particularly in institutional, to continue to differentiate vs peers.

The post Why did ANZ shares smash the other ASX 200 banks in April appeared first on The Motley Fool Australia.

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• What’s happening with ASX 200 banks today as First Republic teeters on the brink of collapse?
• Investing in ASX 200 shares? Here’s what to expect from the RBA tomorrow
• Looking to buy ANZ shares? Here’s what to watch in this week’s results
• Another ASX company to disappear
• No savings at 30? I’d invest $3 a day in ASX shares to target a second income of $10,824 a year

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.

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Investors looking for tech sector exposure might want to check out the two ASX 200 shares listed below.

That’s because brokers are feeling very positive about these shares and are tipping them as buys at current levels. Here’s what to need to know:

Altium Limited (ASX: ALU)

The first ASX 200 tech share that could be a buy is Altium.

It is a printed circuit board (PCB) design software provider behind the industry-leading Altium Designer platform.

This software is used by many of the biggest companies and organisations in the world for their PCB designs. This includes Microsoft, NASA, and Tesla.

The good news is that demand for this type of specialist software is expected to grow strongly in the future. This is due to a number of tailwinds such as artificial intelligence and the Internet of Things.

Morgan Stanley is a fan of this ASX 200 tech share. It currently has an overweight rating and $43.50 price target on Altium shares.

WiseTech Global Ltd (ASX: WTC)

Another ASX 200 tech share that has been named as a buy is WiseTech Global. Like Altium, its software is also industry-leading.

That software is the CargoWise One logistics management platform. It is integral to the global logistics industry, allowing users to execute complex logistics transactions and manage freight operations from a single, easy to use platform.

Demand and usage continues to grow for CargoWise, which is underpinning stellar recurring revenue growth. And thanks to the stickiness of the platform, bolt-on acquisitions, and organic growth, WiseTech Global has been tipped to continue its growth long into the future.

Ord Minnett, for example, is also a big fan of WiseTech Global. It currently has an accumulate rating and $90.00 price target on its shares.

The post These fantastic ASX 200 tech shares have been named as buys by analysts appeared first on The Motley Fool Australia.

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• ‘Under the radar success’: 3 quality ASX 200 growth shares to buy right now
• Top ASX shares to buy in May 2023
• Nasdaq rebound! Brokers say these ASX 200 tech shares are buys
• Don’t get duped: Why cheap ASX shares can still rip you off
• Pro Medicus shares: Bull vs. Bear

Motley Fool contributor James Mickleboro has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 a new month here, now could be a good time to consider making some changes to your portfolio.

If you’re interested in exchange traded funds (ETFs), then it could be worth checking out the three listed below. Especially if you have room in your portfolio for some high-quality tech exposure.

Here’s what you need to know about these ETFs:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF for investors to consider in May is the BetaShares Asia Technology Tigers ETF. This popular ETF provides investors with exposure to many of the best tech stocks in the Asian region (excluding Japan). This means you will be buying a slice of high-quality such as ecommerce players Alibaba and JD.com, search engine company Baidu, and WeChat owner Tencent. We Chat has over 1.3 billion users.

BetaShares Global Cybersecurity ETF (ASX: HACK)

Another ASX ETF for investors to look at this month is the BetaShares Global Cybersecurity ETF. As its name implies, this ETF gives investors access to the leading companies in the global cybersecurity sector. This includes industry giants such as Accenture, Cisco, Cloudflare, Crowdstrike, Okta, Palo Alto Networks, and Splunk. These companies appear well-placed to benefit from increasing demand for cybersecurity services given how prevalent cyberattacks have become.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A third and final ETF for ASX investors to look at in May is the VanEck Vectors Video Gaming and eSports ETF. This ETF provides investors with access to a number of the largest companies in the video game industry. Among the gaming companies that you’ll be owning a slice of are Activision Blizzard, AMD, Electronic Arts, Nintendo, Roblox, and Take-Two. These companies appear well-positioned to benefit from the increasing popularity of video games and eSports.

The post 3 fantastic ETFs for ASX investors to buy in May appeared first on The Motley Fool Australia.

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• 3 top quality ETFs for ASX investors to buy and hold for 10 years
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• Buy and hold these 3 ASX ETFs for a decade
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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 BetaShares Global Cybersecurity ETF. The Motley Fool Australia has positions in and has recommended BetaShares Global Cybersecurity ETF and iShares International Equity ETFs – iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended Betashares Capital – Asia Technology Tigers Etf. 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 Rio Tinto Ltd (ASX: RIO) share price declined in April amid a drop in the iron ore price.

The company’s share price fell 6.6% from $120.14 on 31 March to $112.25 at market close on 28 April. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) fell 2.6% in the same time frame. In Tuesday’s trade, Rio shares slid 1% to $11.14.

Let’s take a look at what weighed on the Rio Tinto share price in April.

What happened?

Rio Tinto is a major iron ore explorer. The company also produces copper, bauxite and aluminum. But iron ore is its largest revenue earner.

The iron ore price fell 17% from US$127 a tonne to US$105 a tonne during April, trading economics data shows.

Iron ore prices fell amid weaker demand from China. China is the world’s largest importer of the commodity, used to make steel.

Kallanish Commodities analyst Tomas Gutierrez told Bloomberg the iron ore price was “overhyped” when it rallied from late last year until March. Iron ore was trading at US$81.5 per tonne on 1 November 2022 before soaring 65% to $US134.50 on 15 March.

Commenting on steel demand from China, he added:

Developers are very reluctant to start new projects outside of the top-tier cities, and that’s where the bulk of steel demand used to come from.

Rio Tinto reported record iron ore exports in the first quarter of calendar year 2023. The company shipped 82.5 million tonnes of iron ore in the March quarter, up 16% on the first quarter of 2022.

Rio’s 2023 guidance for iron ore shipments remains unchanged, however, copper production has been slightly lowered to 590 to 640 thousand tonnes.

Commenting on the results, Rio Tinto CEO Jakob Stausholm said:

We continue to make steady progress with our highest ever first quarter shipments achieved in the Pilbara iron ore business.

Looking ahead, the team at Goldman has a “buy rating” on Rio Tinto shares with a $136.20 price target.

Rio Tinto share price snapshot

The Rio Tinto share price has slid 2.16% in the last year.

Rio has a market capitalisation of about $41.26 billion based on the last closing price.

The post The Rio Tinto share price dumped 7% in April. Here’s why appeared first on The Motley Fool Australia.

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• 2 ASX 200 mining shares to buy for big dividends: analysts
• Rio Tinto shares: Buy, hold or fold in May?
• Dalio says US and China ‘on brink of war’. Which ASX shares could be impacted?
• Looking to buy ASX 200 iron ore shares? Here are 5 reasons not to
• These are the ASX 200 lithium shares to buy due to a new ‘game changing’ technology

Motley Fool contributor Monica O’Shea 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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The S&P/ASX 200 Index (ASX: XJO) plummeted on Tuesday, dropping 0.92% to finish the session at 7,267.4 points.

Its day in the red came amid the Reserve Bank of Australia (RBA) board’s May meeting, wherein it hiked interest rates once more.

The official cash rate now stands 0.25% higher at 3.85% – 3.5% higher than it was this time last year when the first of what is now 11 rate hikes was implemented.

The RBA made the move despite admitting inflation has passed its peak – coming in at 7% last month.

Leading today’s tumble was the S&P/ASX 200 Real Estate Index (ASX: XRE), which fell 2.1%.

It was also a tough day for the S&P/ASX 200 Communication Index (ASX: XTJ) and the S&P/ASX 200 Energy Index (ASX: XEJ). They fell 1.8% and 1.5% respectively.

But it wasn’t all red across the boards. The S&P/ASX 200 Information Technology Index (ASX: XIJ) rose 0.02% despite the Computershare Ltd (ASX: CPU) share price dropping 4.8% after the company reaffirmed its full-year guidance.

So, with all that in mind, let’s take a look at which ASX 200 share outperformed all others in today’s session.

Top 10 ASX 200 shares countdown

The index’s biggest gains on Tuesday were posted by the Pinnacle Investment Management Group Ltd (ASX: PNI) share price. It leapt 6.1% today despite no news having been released by the company.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Pinnacle Investment Management Group Ltd (ASX: PNI)	$9.06	6.09%
Cleanaway Waste Management Ltd (ASX: CWY)	$2.56	5.79%
Lake Resources N.L. (ASX: LKE)	$0.47	5.62%
Telix Pharmaceuticals Ltd (ASX: TLX)	$10.78	3.06%
Graincorp Ltd (ASX: GNC)	$7.10	2.16%
Fletcher Building Ltd (ASX: FBU)	$4.37	2.1%
Healius Ltd (ASX: HLS)	$3.07	1.66%
NRW Holdings Limited (ASX: NWH)	$2.49	1.63%
Newell Brands Inc (ASX: NWL)	$13.77	1.62%
Costa Group Holdings Ltd (ASX: CGC)	$2.61	1.56%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

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

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• Why Cleanaway, Graincorp, Healius, and PolyNovo shares are pushing higher today
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• 5 things to watch on the ASX 200 on Tuesday
• Why Perenti, Pointsbet, ResMed, and Telix shares are rising today
• A ‘big red flag’ for ASX investors to avoid at all costs

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 positions in and has recommended Netwealth Group and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Netwealth Group and Pinnacle Investment Management Group. The Motley Fool Australia has recommended Costa 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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The Sayona Mining Ltd (ASX: SYA) share price finished the session down 2.5% to 20 cents on Tuesday.

The S&P/ASX All Ordinaries Index (ASX: XAO) also languished in red, down 0.8% at the close.

Sayona Mining shares lost 4.8% of their value between the close on 31 March and the close on 28 April.

By comparison, the All Ords rose by 1.7%.

Funnily enough, April was actually a great month for the North American lithium and graphite producer.

Sayona Mining made three positive price-sensitive announcements, with investors pushing the share price up as a result.

But after these fits and starts, the share price kept retreating.

Let’s review.

What news did this ASX lithium share provide in April?

On 14 April Sayona announced a “substantial rise” in the estimated pre-tax net present value (NPV) of its 75% owned North American Lithium (NAL) project and Authier Lithium Project.

Its 25% project partner is Piedmont Lithium Inc (ASX: PLL).

A definitive feasibility study (DFS) revealed an NPV of $2.2 billion. This represented a big increase in the project NPV compared with NAL’s pre-feasibility study (PFS) released to the market in May 2022.

The PFS gave NAL alone a $1 billion NPV.

Sayona told investors the operation is now expected to generate estimated total net revenue of $7.6 billion with earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $3.7 billion.

Sayona Mining said:

Improvements in estimated project financial returns have been driven by the accelerated restart program, increased estimated head grade of 1.04% Li2O, high initial recovery rate (70.2%) and expanded LOM average annual concentrate production of around 190,000t (up 16% compared to the PFS), together with higher spodumene concentrate pricing.

Sayona’s Managing Director, Brett Lynch, said:

This DFS demonstrates the benefits of our hub strategy in Abitibi, with NAL proving to be one of the lowest cost and highest returning investments in the lithium industry.

We are now in the process of successfully derisking the NAL operation, which will generate long‐term, sustainable returns for shareholders together with providing new jobs and investment for Québec.

The Sayona Mining share price rose by 5.3% to 21 cents on the news.

The ASX lithium share had an even better day on 17 April.

The company announced a major resource expansion for its Moblan Lithium Project to 51.4 million tonnes at 1.31% Li2O. This made the project “one of North America’s single largest lithium resources”.

Investors were thrilled and drove the Sayona Mining share price 10% higher to 22 cents.

All this buying activity made Sayona Mining one of the most heavily traded ASX shares on the day.

Then the company released its March quarter activities and cash flow report on 28 April. Investors were happy, and the Sayona Mining share price rose 5.3% from 19 cents to 20 cents.

So why did the Sayona Mining share price drop 5%?

Sayona Mining is a small-cap company with a $1.83 billion market capitalisation.

It is not yet producing any lithium, and these are the shares that lithium investors are concerned about.

They worry that the non-producers won’t be operational in time to take advantage of historically high lithium prices before a bump in supply dampens the commodity’s value further.

The lithium price is now down 70% from its record high in November 2022. This is mainly because China ceased its electric vehicle subsidies in January.

The price today is still high in a historical context, but it keeps falling. It’s down 23% over the past month.

This may go some way to explaining why the Sayona Mining share price was stuck in rangebound mode between 19 cents and 22 cents over the month of April.

A quick look at the performance of other ASX lithium shares over the past month shows a pattern.

The share prices of producers such as Allkem Ltd (ASX: AKE), Pilbara Minerals Ltd (ASX: PLS), and Core Lithium Ltd (ASX: CXO) all went up.

The share prices of explorers such as Sayona Mining and Lake Resources N.L. (ASX: LKE) went down.

Having said that, Sayona did report its first lithium production at NAL in March. It was only 70 tonnes of spodumene concentrate though — not a commercial quantity.

Its first saleable concentrate is expected to be shipped in July.

Sayona Mining share price snapshot

The Sayona share price has fallen by 37.5% over the past year.

Sayona Mining remains one of the most shorted shares on the ASX.

All this recent good news prompted my colleague Seabastian to ask, Are short sellers wrong about Sayona Mining shares?

Time will tell.

The post Why did the Sayona Mining share price sink 5% in April? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Here are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Here are the 3 most heavily traded ASX 200 shares on Thursday

Motley Fool contributor Bronwyn Allen has positions in Allkem and Core Lithium. 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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The S&P/ASX 200 Index (ASX: XJO) had a rough start to the morning, and it only seems to be getting worse. The ASX 200 was getting close to the breakeven line around lunchtime today. 

But the shock decision of the Reserve Bank of Australia (RBA) to resume interest rate hikes has smashed investors’ confidence this afternoon. At the time of writing, the ASX 200 has plunged a nasty 1.06% and is back down to around 7,256 points. 

But let’s not dwell too long on all of that. Instead, it’s time for a checkup of the ASX 200 shares that are currently topping the share market’s trading volume charts, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Tuesday

Qantas Airways Limited (ASX: QAN)

The first ASX 200 share up for consideration today is the national carrier Qantas. So far this Tuesday, a notable 12 million Qantas shares have flown across the ASX boards. This looks to be a consequence of the big news that Qantas revealed to the markets this morning.

As we covered at the time, the airline has named current chief financial officer Vanessa Hudson as Alan Joyce’s nominated successor. Investors don’t seem too thrilled though, with Qantas currently suffering a significant 2.74% share price drop, putting the company at $6.555 a share at present.

Whitehaven Coal Ltd (ASX: WHC)

Next, we have ASX 200 coal share Whitehaven to check out. A hefty 13.58 million Whitehaven shares have been bought and sold on the ASX at this point of the trading day.

Unlike Qantas, there’s been no big news out of Whitehaven today that could explain this high volume.

But looking at the Whitehaven share price, we can see that it has indeed had a big move today. The coal miner is currently down 2.37% at $7.215 a share. That’s certainly chunky enough to result in some elevated trading volumes.

Pilbara Minerals Ltd (ASX: PLS)

Third and finally today, we have ASX 200 lithium stock Pilbara Minerals. A sizeable 19.8 million Pilbara shares have been exchanged on the ASX at this point in time. Again, this looks like a byproduct of the company’s share price movements, with no news out of Pilbara itself today.

Pilbara has had a very bouncy day indeed. The lithium stock started out strongly this morning, rising as high as $4.23 a share by mid-morning. But investors seem to have gotten a case of cold feet as the afternoon has progressed.

As it currently stands, Pilbara is down by 0.37% at $4.085 a share, but dipped as low as $4.06 earlier this afternoon. All of that bouncing around is probably the smoking gun for the high volumes on display here.

 

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

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More reading

• How might Qantas shares perform under Vanessa Hudson?
• Brokers name 3 ASX 200 blue chip shares to buy
• ASX 200 plunges as RBA surprises investors with another interest rate boost
• Why Beach, Computershare, Endeavour, and Qantas shares are dropping today
• Qantas share price falls on CEO succession news

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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Looking for some additions to your portfolio? Listed below are two ASX 200 growth shares that have been given buy ratings by brokers.

Here’s why its analysts rate them highly:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX 200 growth share to buy could be Aristocrat Leisure.

Aristocrat is one of the world’s leading gaming technology companies. It has operations spanning poker machines, mobile games, and real money gaming.

The team at Morgans is very positive on the company’s long term growth potential. The broker recently commented:

We’re optimistic about ALL’s long-term growth potential, given its superior capitalisation and strong ability to invest in the development of its land-based and digital gaming businesses. Additionally, ALL has a high cash conversion rate and ROCE, despite running a capital-light model. Additionally, ALL has ample funding for investment in online RMG, even following the recent buyback extension.

Morgans currently has an add rating and $43.00 price target on its shares.

Breville Group Ltd (ASX: BRG)

Another ASX 200 growth share that is rated as a buy is Breville. It is the leading appliance manufacturer behind brands such as Breville, Kambrook, and Sage.

Breville has been growing at a solid rate over the last decade thanks to its highly successful global expansion and product development.

The good news is that more of the same is expected by analysts at Goldman Sachs. In fact, the broker believes Breville can achieve double-digit earnings growth through to at least FY 2025. This is thanks partly to its exposure to the coffee market. It recently said:

We remain supportive of BRG’s characteristics as a high quality name in a secular growth category and believe they will be able to demonstrate revenue and EBIT CAGR of 7.6% and 11.1% over FY22-25.

Goldman has a buy rating and $22.70 price target on the company’s shares.

The post Why analysts are bullish on these ASX 200 growth shares appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 shares I’d buy for global long-term returns
• Strengthen your ASX portfolio with these blue chip blockbusters: analysts
• Brokers say these ASX growth shares could generate big returns for investors
• Supercharge your portfolio with these 3 ASX growth shares: brokers
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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.

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Well, one of the big pieces of news on the ASX boards today relates to Qantas Airways Ltd (ASX: QAN) shares. The ASX 200 travel share and flag-carrying airliner announced a big development this morning regarding the CEO position. 

Qantas has been helmed by the opinion-dividing Alan Joyce since 2008. But earlier this year, Joyce announced that he would be stepping down from Qantas after 15 years at the top.

Speculation had been mounting on who would succeed Joyce ever since this news broke. Well, today, we have the answer. This morning, Qantas announced to the ASX that the airline’s present chief financial officer, Vanessa Hudson, has been tapped to replace Joyce.

But now that we have a new face to put to the Qantas name, what might this appointment mean for the Qantas share price going forward?

Can a new CEO take Qantas shares higher?

Unfortunately for Hudson, the markets don’t seem to be taking too kindly to the news of her appointment. At present, the Qantas share price has slumped a nasty 2.37%, down to $6.58 a share:

That’s a significant underperformance of the broader ASX 200, which is currently nursing a far smaller loss of 0.1%.

However, this probably doesn’t mean too much. So let’s check out the views of an expert.

According to reporting in the Australian Financial Review (AFR) this morning, RBC Capital Markets has called Hudson’s appointment “the logical choice” in replacing Joyce.

In a broker’s note, analyst Owen Birrel had this to say:

Vanessa Hudson was the logical choice, in our view. She has been involved in developing group strategy for the last five years and also led the fleet selection process in 2022 for the renewal of the domestic jet aircraft fleet…

Given the significant fleet renewal program that Qantas is undertaking through Projects Winton and Sunrise, we believe Vanessa is the most suitable and appropriate candidate to execute on the strategy that she has been heavily involved in developing.

Importantly, Vanessa has been market-facing as CFO since October 2019, which will have prepared her well for the very public role as Qantas CEO.

This echoes the comments of Qantas chair Richard Goyder, who, although obviously biased, stated this morning that “Vanessa has a deep understanding of this business after almost three decades in a range of roles both onshore and offshore, across commercial, customer and finance”.

Let’s now see how Qantas shares go when Hudson takes to the cockpit later this year.

The post How might Qantas shares perform under Vanessa Hudson? appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX 200 blue chip shares to buy
• Why Beach, Computershare, Endeavour, and Qantas shares are dropping today
• Qantas share price falls on CEO succession news
• Up 21% in a year, can the Qantas share price keep flying higher?
• Why 29Metals, Allkem, Alliance, and Rio Tinto shares are falling today

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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