The S&P/ASX 200 Index (ASX: XJO) posted a third consecutive gain on Tuesday. The index closed 0.36% higher at 6,958.9 points.

The United States’ mid-term elections were the talk of the town today as they kicked off. Some experts predict Wall Street could rejoice if the US Republican Party takes power in either the senate or the house, thereby potentially limiting sweeping legislative changes.

Meanwhile, back home, the S&P/ASX 200 Utilities Index (ASX: XUJ) led the way, gaining 1.4%.

The S&P/ASX 200 Financials Index (ASX: XFJ) and the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) also outperformed, lifting 1% and 1.3% respectively.

It wasn’t such a great day for the S&P/ASX 200 Energy Index (ASX: XEJ), though. It fell 2.3% amid easing oil prices.

The Brent crude oil price dropped 0.7% to US$97.92 a barrel overnight, while the US Nymex crude oil price slipped 0.9% to US$91.79 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also dropped 0.3% on Tuesday.

All in all, nine of the ASX 200’s 11 sectors closed higher. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 stock was Mineral Resources Limited (ASX: MIN). It posted a near-5% gain despite no news having been released by the diversified mining company.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Mineral Resources Limited (ASX: MIN)	$79.11	4.95%
Pilbara Minerals Ltd (ASX: PLS)	$5.43	4.42%
A2 Milk Company Ltd (ASX: A2M)	$5.73	3.99%
Lottery Corporation Ltd (ASX: TLC)	$4.47	3.95%
Core Lithium Ltd (ASX: CXO)	$1.505	3.79%
Allkem Ltd (ASX: AKE)	$15.46	3.34%
Block Inc (ASX: SQ2)	$97.21	2.82%
Tabcorp Holdings Ltd (ASX: TAH)	$0.975	2.63%
IGO Ltd (ASX: IGO)	$15.67	2.49%
Nickel Industries Ltd (ASX: NIC)	$0.83	2.47%

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.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Why A2 Milk, Cettire, Lottery Corp, and Weebit Nano shares are rising
• Why is the A2 Milk share price surging 5% on Tuesday?
• Why is the Core Lithium share price spiking 3% today?
• Guess which ASX 200 director sold $6.5m worth of their company shares last week

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 Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/zVCeWnK

The Commonwealth Bank of Australia (ASX: CBA) share price closed higher today despite the company being accused of “law-breaking on a grand scale” in a class action lawsuit brought against it.

Shares of the big-four bank ended the day up 1.36% at $104.48 each.

CBA’s share price performance might have been helped by the fact the S&P/ASX 200 Financials Index (ASX: XFJ) was also up for the day, by 1.02%.

Let’s cover the highlights of the class action lawsuit against the ASX bank share.

The lawsuit

The Age reported that Maurice Blackburn and Phi Finney McDonald are suing CBA on behalf of affected shareholders after the bank agreed to pay a $700 million fine to settle a case with financial intelligence agency AUSTRAC in 2017.

The article notes the CBA share price dropped more than 5% amid AUSTRAC announcing it would pursue the bank for allegedly breaching money laundering laws, which saw criminals launder money through its ATMs.

The lawsuit claims CBA knew about these cash deposits being made at its ATMs but did not report them to the agency, nor the ASX, thus allegedly breaching its continuous disclosure obligations and consequently destroying shareholder value amid its share price dropping lower.

Meanwhile, the CBA is denying these claims, stating that it did not need to disclose these developments to the market as they were not price-sensitive.

A spokesperson for the bank said CBA vigorously denies the allegations and is defending the actions.

What happened this week

The first hearing for the case was held on Monday, with Maurice Blackburn’s lawyer Jeremy Stoljar stating that CBA broke the Anti-Money Laundering and Counter-Terrorism Financing Act a massive number of times over three years.

Stoljar said:

The issue is, is this information of the kind that would or would be likely to influence investment decisions? Well, of course it would. Look at the sheer number of contraventions: 53,506 contraventions is, objectively, a very large number to say the least. It’s law-breaking on a grand scale.

Stoljar continued:

It had continued for a long period of time indicating ongoing and systemic failing. It increased the cost of doing business involving remediation, persistent costs and potentially civil penalties.

Stoljar then showed the court an email chain of CBA executives stating that the breach needed to be taken “extremely seriously”, and that its chief risk officer should be in contact with AUSTRAC to inform the agency of its breaches.

“This is absolutely at odds with the case CBA tries to put, which is that it’s not material,” Stoljar said.

The case continues. It is scheduled to last six weeks in Federal court.

The post Looking to buy CBA shares? Here’s the latest on the bank’s class action appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Are ASX 200 bank shares a no-brainer buy in an inflationary environment?
• Why Morgans added CBA shares to its best ideas list
• Is Bendigo Bank the best bet for dividends out of all the ASX 200 bank shares?
• The CBA share price has soared 17% in a month. Is it time to cash in?
• The CBA share price soared 15% in October

Motley Fool contributor Matthew Farley 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.

from The Motley Fool Australia https://ift.tt/qgUz3le

The Skyfii Limited (ASX: SKF) share price is exploding today amid an agreement with McDonald’s Corp (NYSE: MCD).

Skyfii shares are soaring 45.71% at the time of writing and currently trading at 5.1 cents. For perspective, the S&P/ASX 200 Index (ASX: XJO) is climbing 0.4% today.

Let’s take a look at why this ASX tech share is rocketing ahead today.

McDonald’s deal

Skyfii has signed a deal with McDonald’s to supply technology at eight restaurants in the United States.

The three-year contract has a total contract value of $2 million.

Skyfii will provide the fast food chain with real-time restaurant monitoring and analysis technology. This is an industry first, according to Skyfii.

The data from the technology will enable McDonald’s to find out how long it takes for a customer to receive their order. Skyfii has partnered with global strategy and research company Halverson Group on this solution.

Commenting on the news, Skyfii CEO Wayne Arthur said:

The opportunity to partner with both Halverson Group and McDonald’s to create an industry-first solution that solves some critical pain points for such a large and
globally recognised QSR brand is a privilege

What else?

Skyfii also delivered an investor presentation to the market today. Total operating revenue lifted 7% on the prior corresponding period to $5.4 million. Net operating cash flow improved 333% to -$0.9 million.

Skyfii said 75% of its new contract wins are outside the APAC region. Of the deals closed, 79% have been in the last six months.

Looking ahead, the company is expecting to deliver another year of “strong revenue growth”.

Skyfii share price snapshot

The Skyfii share price has fallen 46% in the past year, while it has lost 48% in the year to date.

For perspective, the ASX 200 has fallen nearly 7% in a year.

This ASX tech share has a market capitalisation of about $21 billion based on the current share price.

The post Happy deal: The ASX tech share rocketing 46% on a McDonald’s agreement appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here’s how I allocate my ASX share portfolio and why

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.

from The Motley Fool Australia https://ift.tt/JIMiZzf

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is currently edging higher, up 1.47% to $8.95.

This comes as one of the company’s leadership commented on the deal between Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Suncorp Group Ltd (ASX: SUN).

ANZ wants to buy the banking division of Suncorp for $4.9 billion.

For ANZ, it’s trying to beef up its business so that it can better compete with its rivals Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).

For Suncorp, it will enable the company to focus on its insurance operations.

Bendigo Bank’s view on the deal

The Bendigo Bank share price is rising amid the company holding its annual general meeting (AGM) today.

Chair Jacqueline Hey noted that the business is firmly focused on its organic growth strategy, though it does “from time to time” consider mergers and acquisitions that “will create value for shareholders and customers”.

Hey said:

Whilst we do not comment on these type of activities in the normal course of business, given this one is public we do believe it’s important our shareholders are fully aware that Suncorp avoided engagement with our bank – despite repeated approaches – and instead announced a transaction with a big four bank. We believe this will only further entrench Australia’s banking oligopoly and provide sub-optimal outcomes for customers and communities.

Deal requires government approval

A deal this size between two S&P/ASX 200 Index (ASX: XJO) shares requires government approval.

The Queensland government is taking a close interest in the deal because of how important Suncorp is for the local economy.

While there are reports the Queensland Treasurer isn’t opposed to the transaction, there was criticism from other sources.

The Australian Financial Review quoted the Finance Sector Union Queensland secretary Wendy Streets, who said:

There are currently around 40 suburbs [or] towns where there are both Suncorp and ANZ branches and we believe these ANZ’s will be targeted to close during the three-year moratorium.

At the conclusion of the three-year commitment, it is our view that the savings will come from back office synergies between the two which ultimately will mean a significant amount of Queensland job losses as the work transfers to ANZ Melbourne departments.

Other highlights from the Bendigo Bank AGM

The Bendigo Bank CEO and managing director Marnie Baker noted that the current economic outlook remains complex, challenging, and “in flux”.

Cash rates are starting to impact property values and the regional bank is expecting credit growth to moderate, while competition remains intense.

With that in mind, the bank will continue to focus on managing its costs, strengthening returns, future-proofing the business and improving its overall returns.

Bendigo Bank share price snapshot

Over the last month, Bendigo Bank shares have risen by close to 10%.

However, they are down almost 14% in the past six months and 4% year to date.

The post Bendigo Bank share price climbs as chair slams ANZ-Suncorp deal as ‘sub-optimal’ appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Are storm clouds gathering over ANZ’s Suncorp bid?
• Analysts say these ASX dividend shares are buys this week
• ‘Undemanding’ valuation: Morgans tip 17% upside for the Suncorp share price
• Are ASX 200 bank shares a no-brainer buy in an inflationary environment?
• Why ANZ, Coronado Global, Eclipx, and Westpac shares are dropping

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/CXrPWIi

S&P/ASX 200 Index (ASX: XJO) investors are keeping a close eye on the interest rate moves and signals from the Reserve Bank of Australia (RBA) this year.

And for good reason.

It was only back on 3 May, a touch over six months ago, that Australia’s official cash rate stood at the all-time low of 0.10%. A historic low rate that RBA governor Philip Lowe had said in 2021 was likely to remain in place for several more years.

We know now that’s far from the case.

Faced with fast-rising inflation, on 4 May the RBA raised interest rates by 0.25%, taking the cash rate to 0.35%. That was the central bank’s first tightening move in more than a decade.

And the RBA has followed through with another hike every month since, taking us to the current 2.85%.

The rapid pace of tightening has hit ASX 200 shares hard. Year-to-date, the benchmark index is down 8.3%. That came after the ASX 200 posted an impressive 13% gain in 2021, when rates were at all-time lows.

Which brings us to the latest interest rate forecast from Goldman Sachs.

What to expect next from the RBA

There is broad consensus among leading economists that ASX 200 investors should expect at least some further interest rate increases from the RBA.

Of the big four ASX 200 banks, Commonwealth Bank of Australia (ASX: CBA) has the most dovish forecast, predicting rates will top out at 3.1%. Australia and New Zealand Banking Group Ltd (ASX: ANZ) believes the RBA will be forced to tighten further, taking the terminal interest rate to 3.85%.

However, the latest forecast from Goldman Sachs sees the RBA increasing rates five more times. Goldman believes rates will reach 4.1% in six months before declining modestly in 2024. That’s likely a good bit higher than the market has currently priced in.

According to Goldman Sachs chief economist Andrew Boak (courtesy of The Australian Financial Review):

We do not expect the RBA will risk falling too far behind a synchronised global tightening cycle. All considered, we now expect plus 25 basis point rate hikes each month to May 2023 (inclusive) – to a terminal rate of 4.1 per cent (prior: 3.6 per cent) – followed by 110 basis points of easing over 2024 to 3 per cent.

In context, our revised terminal rate forecast sits around the hawkish extreme of peer economist expectations, but is broadly in line with pricing in financial markets. We see risks to our forecast in both directions.

How might ASX 200 shares react to a more hawkish RBA?

If Goldman Sachs has it right, some ASX 200 shares are likely to weather the rapid rate increases better than others.

Stocks that could come under further pressure would include those in the consumer discretionary sector. Higher rates will put further pressure on household budgets, leading to reduced discretionary spending.

ASX 200 shares holding a lot of debt may also find investors jumping ship, as the cost of servicing that debt marches higher than anticipated.

And growth stocks, valued with future earnings in mind, will face renewed headwinds if interest rates rise higher than investors have already priced in. The higher interest rates go, the dearer the cost of investing in those future earnings today.

On the flip side, ASX 200 companies with strong balance sheets should be able to weather any unexpectedly higher rates more easily.

Also, companies operating in sectors where they can pass on at least some of any increased operating costs from higher rates to their customers could outperform.

Then there are the ASX 200 energy shares.

With fossil fuel and lithium prices likely to remain elevated over the medium term, the big producers should be able to handle a more hawkish RBA, should rates indeed spike to 4.1%.

The post Here’s what Goldman’s RBA rate forecast could mean for ASX 200 shares appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Warren Buffett bought $9 billion in stocks and sold more than $5 billion last quarter
• Why has the Argosy Minerals share price rocketed 23% in a month?
• Here are the 3 most traded ASX 200 shares on Tuesday
• Why did the Santos share price take a dive following the company’s investor briefing?
• Could this emerging trend dent the recovery for Flight Centre shares?

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 positions in and has recommended Goldman Sachs. 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.

from The Motley Fool Australia https://ift.tt/xa7P0vr

The share price of lithium hopeful Argosy Minerals Limited (ASX: AGY) has had a lightning run over the last 30 days, gaining nearly 23% in that time.

That’s a far better performance than both the broader market and the company’s home sector.

The S&P/ASX 300 Metals and Mining Index (ASX: XMM) has gained just 2.4% in that time while the broader S&P/ASX 300 Index (ASX: XKO) has listed 4.3%.

Right now, the Argosy share price is 59 cents, 22.92% higher than it was this time last month.

So, what’s been going so right for the ASX 300 minerals developer? Let’s take a look.

Why has the Argosy share price surged 23% in a month?

The Argosy share price has been outperforming both the market and many of its peers lately despite the market reacting poorly to the only news released over the last month.

The first word from the company over the past month was its quarterly report, released on 28 October.

Then, it noted its Rincon operation’s development was 97% complete with drilling works continuing well amid positive sentiment in lithium markets.

The company ended the September quarter with around $34 million of cash, having spent close to $1 million on operating activities during the period.

Sadly, the market was unimpressed. It bid the Argosy share price nearly 8% lower on the day of the release. And it wasn’t much happier about the company’s next update.

The lithium developer revealed that 98% of Rincon’s development was completed on 1 November.

It also confirmed that commissioning and production testing activities were progressing well, with a primary lithium product having been produced. 

The Argosy share price slumped 1.9% on the back of the release. Fortunately, however, it regained all that and then some the following day, wherein it soared 6.9%.

Perhaps positive sentiment for ASX lithium shares in general has helped bolster the stock over the last 30 days. Other lithium favourites such as Core Lithium Ltd (ASX: CXO), Lake Resources N.L. (ASX: LKE), and Sayona Mining Ltd (ASX: SYA) have also posted notable gains in that time.

Recent gains included, the Argosy share price is currently 79% higher than it was at the start of 2022. Meanwhile, the ASX 300 has fallen 7% year to date.

The post Why has the Argosy Minerals share price rocketed 23% in a month? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why A2 Milk, Argosy Minerals, Dicker Data, and Life360 shares are falling

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/03iLYjK

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), the conglomerate run by legendary investor Warren Buffett, released its third-quarter earnings on Saturday, reporting a solid operating profit of roughly $7.76 billion.

The report also gave Berkshire watchers some insight into third-quarter investing activity by Buffett and his investing team.

Berkshire runs a massive equities portfolio — roughly $328 billion — and given the company’s success, it’s never a bad idea to look at stocks the company is buying and selling. Here’s what we know so far about some of the moves Berkshire made between August and September.

A net buyer of stocks

Despite the broader market’s rocky performance in the third quarter, with the S&P 500 falling about 5%, Buffett and Berkshire remained active, purchasing about $9 billion of equities, according to its cash flow statement. Berkshire also sold roughly $5.3 billion of equities in the quarter, making the company a net buyer of about $3.7 billion in stocks.   

While we don’t know exactly what Berkshire was buying and selling just yet, we can get clues from Berkshire’s quarterly report and other filings made during the third quarter. For instance, we know Berkshire added to its stake in the large U.S. oil producer Occidental Petroleum, which is not a huge surprise considering Buffett and Berkshire have been heavily buying shares all year.

Although Berkshire was a net buyer of stocks in the third quarter, it reported that its cost basis for all of its stocks fell from $149.7 billion at the end of the second quarter to $142.3 billion at the end of the third. This is likely because Berkshire’s stake in Occidental topped 20% during the quarter, so it’s now using the equity accounting method to report that position. Companies typically use the equity method when they hold significant control of another business — often 20%. Berkshire’s equity method holdings jumped about $11.2 billion in the third quarter, which is similar to the size of its position in Occidental as of Sept. 30.

Berkshire also reports the cost basis of stocks it owns in different sectors, which can give us an idea of whether it was a net seller or buyer of stocks in that sector. Notably, its cost basis in the banking, insurance, and finance sectors fell about $4.7 billion in the quarter, so it looks like this is where Berkshire did most of its selling.

Berkshire also increased its sizable cash position by about $3.6 billion in the quarter to $109 billion and conducted share repurchases of about $1 billion.

Stay tuned 

While Buffett and Berkshire weren’t buying the dip as aggressively as they did in the first quarter of the year, it will still be interesting to see what moves they ultimately made in a rough three months for the broader market. 

We’ll soon get more information about exactly which stocks Berkshire bought and sold in the third quarter when the company updates its holdings in its quarterly 13F filing. Institutional investment managers are required to file this form no later than 45 days after the third quarter ends. Berkshire usually does so at the end of that window, so look for it to be released to the public on Nov. 14.  

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Warren Buffett bought $9 billion in stocks and sold more than $5 billion last quarter appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Berkshire, Buffett feel the bear’s bite
• Why I think Warren Buffett is right to always think a market crash is coming
• Warren Buffett’s portfolio is different from yours. Here’s why
• Two Warren Buffett rules you should never forget
• The companies Warren Buffett owns might surprise you

Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway (B shares). The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). 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.               

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

from The Motley Fool Australia https://ift.tt/nSFvjy3

The S&P/ASX 200 Index (ASX: XJO) is again putting on some welcome gains as it currently stands this Tuesday. Yesterday saw the ASX 200 kick off the week on the right foot, and today, the ASX 200 has again delivered, currently enjoying a rise of 0.4% to just over 6,960 points.  

But let’s now delve a little deeper into these gains and take stock 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

Lake Resources N.L. (ASX: LKE)

Our first ASX 200 share of the day is the lithium stock Lake Resources. So far this Tuesday, a hefty 17.8 million Lake shares have swum across the ASX to a new owner. This volume could be a result of the short-seller attack Lake Resources is enduring today.

As we covered here earlier, J Capital has put out some allegations that question some of Lake’s claims over its Kachi Project. Investors have reacted warily by selling down Lake Resources shares by 2.18% to $1.12 each so far this Tuesday. This is probably the cause of the high volumes we are seeing.

Pilbara Minerals Ltd (ASX: PLS)

Another ASX 200 lithium share is next up with Pilbara Minerals. This Tuesday has seen a notable 25.41 million Pilbara shares swapping hands as it currently stands. There’s been no fresh news out of Pilbara either. But the lithium producer has had more fortune today than its peer Lake Resources.

The Pilbara share price is up a pleasing 5.2% at $5.47 a share, closing in on its 52-week and record high of $5.66. This strong rise is almost certainly behind the volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Finally today we have yet another ASX 200 lithium stock in Core Lithium. This Tuesday’s session has seen a notable 28.43 million Core shares find a new home thus far. Like Pilbara, Core Lithium has seen some welcome share price appreciation.

The company’s shares are currently enjoying a 4.5% gain to $1.52 each, despite dipping into the red this morning. With no other news or announcements out from the company, we can assume that this is the catalyst for the elevated trading volumes on display.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Lake Resources share price dips amid latest short-seller attack
• Why is the Core Lithium share price spiking 3% today?
• Guess which ASX 200 director sold $6.5m worth of their company shares last week
• Why I think Warren Buffett is right to always think a market crash is coming
• 5 things to watch on the ASX 200 on Tuesday

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.

from The Motley Fool Australia https://ift.tt/agCuy0w

The Santos Ltd (ASX: STO) share price is plummeting this afternoon after the company flagged lower 2023 production and announced a major restructure.

The ASX oil share expects to produce between 91 million and 98 million barrels of oil equivalent in 2023, down from its 2022 guidance of 103 million to 106 million barrels.

It also unveiled a planned restructure that will see the business split into two divisions: Upstream Gas and Liquids and Santos Energy Solutions.

The Santos share price is down 5% right now, trading at $7.59.

Let’s take a closer look at the news released at the company’s investor briefing day.

Santos share price slumps on guidance and split plans

It’s a big news day for Santos, and its share price isn’t responding well. The oil and gas giant’s stock has tumbled after the company looked to the future at this afternoon’s investor briefing.

It flagged its production will likely drop in 2023 amid the end-of field-life at Bayu-Undan and lower Western Australia domestic gas production, as well as the timing of the planned sale of a 5% stake in PNG LNG.

Its sustaining capital expenditure is also expected to jump from US$1.1 billion in 2022 to around US$1.2 billion in 2023, while its major projects capital expenditure is expected to rise from US$1.2 billion to approximately US$1.835 billion.

Santos’ divisional split

The Santos share price is also falling amid the unveiling of the company’s plan to split its business in two.

Following the move, its LNG projects and domestic gas business will be run under the Upstream Gas and Liquids umbrella. The Santos Energy Solutions businesses, meanwhile, will focus on low-carbon processing of gas and liquids, decarbonisation, and clean fuel production.

Santos CEO Kevin Gallagher said the division will provide a low-carbon intensity base business capable of providing shareholder returns and fund the energy transition, continuing:

Given the strong customer demand for our product now and into the future, we will seek to backfill and sustain our core assets to deliver the critical fuels the world needs into the 2040s.

But we will also decarbonise these critical fuels, in-line with our target of net-zero emissions (scope 1 and 2, equity share) by 2040, and produce clean fuels as customer demand evolves.

Upstream Gas and Liquids brought in US$2.6 billion of EBITDAX in the first half of 2022, while Santos Energy Solutions boasted US$149 million of earnings before interest, tax, depreciation, and amortisation (EBITDA).

The company has also revealed a new strategy. Its ‘backfill and sustain – decarbonisation – clean fuels’ strategy will build on its predecessor, the ‘transform – build – grow’ strategy, in place since 2016.

Santos share price snapshot

Despite today’s tumble, the Santos share price has been outperforming recently.

It has lifted 16% since the start of 2022. It’s also trading 9% higher than it was this time last year.

Comparatively, the S&P/ASX 200 Index (ASX: XJO) has fallen 8% year to date and 7% over the last 12 months.

The post Why did the Santos share price take a dive following the company’s investor briefing? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• Morgans names 2 more of the best ASX shares to buy in November
• 5 things to watch on the ASX 200 on Thursday
• Why did Santos and Woodside shares outperform the ASX 200 today

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/7PJWk02

Flight Centre Travel Group Ltd (ASX: FLT) shares have charged higher in the past month, but could a new trend in corporate travel impact the travel recovery?

The travel company’s share price has jumped 11.58% in the past month. In today’s trade, Flight Centre shares are falling 1.83%. For perspective, the S&P/ASX 200 (ASX: XJO) is up 0.23% today.

Let’s take a look at the outlook for the Flight Centre share price.

New business travel trend

Business executives are taking longer trips since COVID-19, scrapping one-day trips for more lengthy stays.

One-day trips are declining by 25%, CWT states, cited by Reuters. CWT Asia Pacific sales head Akshay Kapoor noted the fall in shorter trips while highlighting this could translate to more revenue from longer hotel stays. Kapoor told the publication:

I think the trend away from one-day trips in favour of longer stays is here to stay as travellers become more environmentally and fiscally conscious.

This could translate into a higher revenue per available room for hotels in the long run.

Flight Centre is a global travel company that offers not just flights, but also hotels, cruises and travel tours.

In FY22, Flight Centre reported that its corporate businesses returned an underlying EBITDA profit of $14 million for the year, compared to an $80 million loss in FY21.

Flight Centre said “accelerated” leisure and corporate sales growth was driven by higher airfares and demand.

Corporate TTV surged 158% in FY22 to $5.6 billion, while leisure TTV jumped 197% to $4.1 billion.

Flight Centre share price snapshot

Flight Centre shares have lost more than 21% in the past 12 months, while they are down 5% year to date.

In comparison, the S&P/ASX 200 (ASX: XJO) has lost nearly 7% in the past year.

Flight Centre has a market capitalisation of about $3.3 billion based on the current share price.

The post Could this emerging trend dent the recovery for Flight Centre shares? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 10 most shorted ASX shares
• The Flight Centre share price soared 17% in October. Here’s why
• Why are Flight Centre shares still the most shorted on the ASX?
• Here are the 10 most shorted ASX shares
• If you’d spent $1,000 buying Flight Centre shares at the start of October, guess how much you’d have now

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 recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/5n2iKCZ