• Why did ASX 200 gold shares have such a rough day?

    A woman holds a gold bar in one hand and puts her other hand to her forehead with an apprehensive and concerned expression on her face after watching the Ramelius share price fall todayA woman holds a gold bar in one hand and puts her other hand to her forehead with an apprehensive and concerned expression on her face after watching the Ramelius share price fall today

    ASX 200 gold shares had a tough end to the week amid the falling gold price.

    Gold shares on the ASX include Evolution Mining Ltd (ASX: EVN), Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST).

    Let’s take a look at why today was a shocker for these ASX 200 gold shares.

    Gold price tumbles

    Evolution shares lost 5% today, while the Newcrest share price fell 2.75%. Meanwhile, the Northern Star Resources share price dropped 4.15%.

    Newcrest, Evolution and Northern Star are all major gold producers.

    The gold price dropped to the lowest level since April 2020 at US$1,659.47 overnight. The gold price has since recovered slightly to US$1,668.40 an ounce at the time of writing.

    The gold price fell amid concerns the US Federal Reserve will raise rates sharply next week to fight inflation.

    In comments cited by Reuters, Next Generation Research head Julius Baer said:

    The gold market has clearly priced in a more aggressive US Federal Reserve ahead of next week’s meeting, reflecting the central bank’s determination to fight inflation.

    Northern Star expects to deliver 1,560koz to 1,680koz (thousand ounces) of gold in FY23. Meanwhile, Newcrest is expecting to produce 2100 to 2,400 koz of gold in FY23. Evolution is planning to increase gold production in FY23 by 12.5% to about 720,000 ounces.

    Share price snapshot

    The Northern Star share price has slid 22% in the past year. Meanwhile, Evolution shares have dropped 48%, while Newcrest shares have fallen 32%.

    For perspective, the S&P/ASX 200 Materials Index (ASX: SMJ) has fallen 3.51% in a year.

    The post Why did ASX 200 gold shares have such a rough day? appeared first on The Motley Fool Australia.

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    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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  • Why did the Imugene share price have such a lousy end to the week?

    A bored man sits at his desk, flat after seeing the latest news on the share market.A bored man sits at his desk, flat after seeing the latest news on the share market.

    The Imugene Limited (ASX: IMU) share price finished flat for today, but has been in the red for week.

    At Friday’s market close, the clinical stage immuno-oncology company’s shares ended at 22 cents a pop.

    This means the share is down 6.38% for the week.

    What’s up with Imugene shares?

    Investors are drove the Imugene share price to a two-month low on the day of company’s announced institutional placement.

    Imugene advised it successfully received firm commitments to raise $80 million from a number of institutional investors.

    However, with new Imugene shares to come onto the market, this will dilute the existing shareholder value.

    Nonetheless, Imugene released its prospectus to the ASX today for the issue of the institutional placement options.

    The offer is an issuance of one new option for every two new shares to eligible participants, to raise up to approximately $66 million.

    In total, Imugene will offer 200 million new options at an exercise price of 33 cents per option.

    They expire on 31 March 2026 and can be exercisable at any time up to and including the expiry date.

    Allotment of the new options under the offer is expected on 19 September.

    Imugene is seeking to raise the funds to accelerate the development of its anti-cancer drugs.

    Imugene share price snapshot

    Adding to this week’s decline, the Imugene share price has tanked almost 50% since this time last year.

    Half of these losses have come in the past month alone.

    Based on today’s price, Imugene commands a market capitalisation of roughly $1.29 billion, with 5.87 billion shares on issue.

    The post Why did the Imugene share price have such a lousy end to the week? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Imugene Limited right now?

    Before you consider Imugene Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Imugene Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
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    Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Here are the top 10 ASX 200 shares today

    A group of business people pump the air and cheer.A group of business people pump the air and cheer.

    The S&P/ASX 200 Index (ASX: XJO) slumped lower on Friday, marking the end to what was likely a disappointing week for Australian investors. The index closed 1.4% lower at 6,747 points today.

    That leaves the ASX 200 2.14% lower than it was at the end of last week, mostly due to Wednesday’s disastrous session.

    The S&P/ASX 200 Energy Index (ASX: XEJ) weighed heaviest today, falling 3%. The sector’s suffering likely came on the back of falling oil prices.

    The Brent crude oil price fell 3.5% to US$90.84 a barrel overnight while the US Nymex crude oil price dropped 3.8% to US$85.10 a barrel.

    Mining giants also dragged on the market, with the S&P/ASX 200 Materials Index (ASX: XMJ) dumping 2.3%.

    Gold futures slumped 1.9% to US$1,677.30 an ounce overnight while iron ore futures lifted 0.1% to US$100.58 a tonne. Meanwhile, the price of nickel fell 4.5% and that of copper slipped 0.6%.

    Today’s top performing sectors were the S&P/ASX 200 Utilities Index (ASX: XUJ) and the S&P/ASX 200 Information Technology Index (ASX: XIJ). They fell 0.4% and 0.6% respectively.

    But which ASX 200 share outperformed all others? Keep reading to find out.

    Top 10 ASX 200 shares countdown

    Today’s top performing ASX 200 share was Star Entertainment Group Ltd (ASX: SGR).

    The company’s interim chair Ben Heap responded to the findings of a review into its suitability to operate its Sydney casino, released earlier this week, yesterday afternoon.

    Today’s biggest gains were made by these shares:

    ASX-listed company Share price Price change
    Star Entertainment Group Ltd (ASX: SGR) $2.90 5.07%
    Computershare Ltd (ASX: CPU) $26.01 4.42%
    Tabcorp Holdings Limited (ASX: TAH) $0.98 4.26%
    Reliance Worldwide Corporation Ltd (ASX: RWC) $3.69 2.79%
    News Corporation (ASX: NWS) $25.86 2.5%
    Home Consortium Ltd (ASX: HMC) $5.06 2.43%
    Nine Entertainment Co Holdings Ltd (ASX: NEC) $2.08 1.96%
    Event Hospitality and Entertainment Ltd (ASX: EVT) $13.20 1.69%
    Eagers Automotive Ltd (ASX: APE) $12.85 1.42%
    Bapcor Ltd (ASX: BAP) $6.86 1.33%

    Our top 10 ASX 200 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.

    Wondering where you should invest $1,000 right now?

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    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 Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Bapcor and Reliance Worldwide Corporation Limited. 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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  • Top broker values Mineral Resources rumoured lithium spin-off at $17 billion

    A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.

    A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.

    The Mineral Resources Limited (ASX: MIN) share price was out of form on Friday.

    The mining and mining services company’s shares tumbled 5% lower to $66.39.

    This was driven by a broad market selloff, which was felt hardest among riskier assets.

    Is this Mineral Resources share price weakness a buying opportunity?

    One leading broker that certainly sees this share price weakness as a buying opportunity is UBS.

    According to a note, the broker has retained its buy rating and $83.00 price target on the company’s shares.

    Based on the current Mineral Resources share price, this implies potential upside of 25% for investors over the next 12 months.

    But it could get even better.

    What else is the broker saying?

    There has been a lot of speculation this month about Mineral Resources potentially unlocking value by demerging its lithium operations and listing them on Wall Street.

    UBS has been looking into this option and appears to like what it sees. Its analysts note that Albemarle’s lithium business trades at 10x FY 2024 EBITDA, whereas Mineral Resources’ business is fetching just over 3x FY 2024 EBITDA.

    And while UBS doesn’t necessarily think that the business will be able to command as great a premium as Albemarle, it still sees 6x EBITDA as possible. The broker commented:

    While the case for MIN’s lithium spinoff to create value is strong, we believe ALB’s Li business arguably should trade at a premium to MIN.

    If the business were to trade at 6x FY 2024 EBITDA, it would give it a valuation of $17 billion. That is notably more that the current Mineral Resources market capitalisation of $13 billion, which includes far more than just its lithium operations.

    However, as things stand, management has not announced plans to spin off the business, so it is purely speculation at this stage. But with this much value potentially being unlocked from doing so, shareholders will no doubt be hoping it happens.

    The post Top broker values Mineral Resources rumoured lithium spin-off at $17 billion appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

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    *Returns as of September 1 2022

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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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  • At a dire time for ASX 200 tech, how are Computershare shares trading near all-time highs?

    An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.

    The Computershare Ltd (ASX: CPU) share price has been on a roll lately. Not only has it dodged the carnage suffered by its S&P/ASX 200 Index (ASX: XJO) tech peers, it’s trading within a hair of its all-time record high.

    The Computershare share price is launching another 5% today, closing trade at $26.13. That’s only 1.6% lower than its record high of $26.56.

    That’s despite the broader ASX 200 tumbling 1.4% and the S&P/ASX 200 Information Technology Index (ASX: XIJ) slipping 0.56%.

    In fact, the ASX 200 tech sector has plunged 30% so far this year. Meanwhile, Computershare’s stock has gained 30%.

    So, why is the investor services operator outperforming the broader market while most of its peers have sunk deep into the red? Let’s take a look.

    How are Computershare shares defying the tech downturn?

    The Computershare share price is boasting major gains this year. At the same time, its sector has struggled to stay afloat.

    Interestingly, the reason behind the tech sector’s suffering might explain the stock’s rise.

    The major factor weighing on ASX 200 tech shares this year is arguably inflation. Inflation – and resulting rate hikes – tend to hit tech stocks harder than most, as they are more often growth-focused.

    To put it simply, inflation can increase the cost of debt while reducing the value of a company’s future cash flows.

    Thus, rising inflation can weigh on the share prices of companies valued on their expected future growth and cash flows. My Fool colleague Zach explained this phenomenon in more detail earlier this year.

    But rising inflation is actually good news for Computershare, according to experts. And that could be what has helped to buoy the Computershare share price.

    T. Rowe Price’s Randal Janneke previously noted the company’s business model sees it collect cash from its businesses before handing it out to investors. But before being distributed, the cash is placed in money markets where higher interest rates see it generate larger returns.

    This sentiment is shared by Tribeca’s Jun Bei Liu, as my colleague Tony reports.

    The post At a dire time for ASX 200 tech, how are Computershare shares trading near all-time highs? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

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    See The 5 Stocks
    *Returns as of September 1 2022

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    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.

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  • Top brokers name 2 ASX growth shares to buy now

    Smiling man sits in front of a graph on computer while using his mobile phone.

    Smiling man sits in front of a graph on computer while using his mobile phone.If you’re searching for growth shares to buy, then two ASX shares listed below could be worth considering.

    Both have been named as buys by brokers and tipped to have major upside potential. Here’s what they are saying about them:

    Domino’s Pizza Enterprises Ltd (ASX: DMP)

    The first ASX growth share that could be in the buy zone is Domino’s.

    It is one of the largest pizza chain operators in the world with a significant presence in the ANZ, European, and Asian regions. But management isn’t stopping there. It has set itself a target of 7,250 stores by 2033, which is over double its current footprint.

    And while the company is going through a difficult period at the moment, the team at Morgans believe investors should be patient and focus on its long term growth opportunity.

    Morgans has an add rating and $90.00 price target on Domino’s shares. It commented:

    It is an affordable option that has performed well historically even in times of inflation or slower economic growth. The engine of DMP’s growth is its ability to roll out new stores all over the world. It added 438 stores to its global network in the year to June 2022, a pace of expansion that we forecast to accelerate to nearly 600 in FY23. This will take the total to almost 4,000 stores, up fourfold over a ten-year period. Over the next ten years, DMP expects to grow organically to 7,250 stores in the 13 countries in which it currently operates

    Readytech Holdings Ltd (ASX: RDY)

    Another ASX growth share to look at is enterprise software provider Readytech.

    It has been a strong performer in recent years and delivered the goods again in FY 2022. Last month, Readytech revealed a 16.8% year over year increase in revenue to $78.3 million and a 45.5% jump in underlying EBITDA to $27.5 million.

    Goldman Sachs is expecting more of the same in the future. As a result, it has put a buy rating and $4.30 price target on the company’s shares. Goldman commented:

    We are constructive on RDY’s growth outlook given its defensive end-market exposures (government and education represent ~3/4 of FY23E revenue) and see scope for margins to grow from FY23 onwards, aided by transitioning IT Vision’s on-premise customer base to cloud in coming years (generating a 2-3x ARPU uplift).

    RDY remains materially undervalued relative to profitable SaaS peers (we estimate >50% discount on growth-adjusted FY24E EV/EBITDA) and is building an impressive track record of organic growth execution which in our view will drive a re-rating over time.

    The post Top brokers name 2 ASX growth shares to buy now appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of September 1 2022

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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 Readytech Holdings Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Readytech Holdings Ltd. 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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  • Why is the Boss Energy share price melting 8% lower?

    Disappointed man with his head on his hand looking at a falling share price his a laptop.Disappointed man with his head on his hand looking at a falling share price his a laptop.

    The Boss Energy Ltd (ASX: BOE) share price is having a woeful day on the ASX.

    At the time of writing, the uranium producer’s shares are swapping hands at $2.68, down 7.90%.

    This comes as the broader Aussie stock market is also tumbling on the back of bearish sentiment after Wall Street sank overnight.

    Shares in fellow miners, Paladin Energy Ltd (ASX: PDN) and Deep Yellow Ltd (ASX: DYL) are down 4.44% and 8.37%, respectively.

    What’s causing Boss Energy shares to fall today?

    Investors are offloading the Boss Energy share price after uranium prices have continued their descent in the past few days.

    Otherwise known as ‘yellowcake’, the heavy metal is fetching for US$50.85 per pound, a drop of 0.68% from the previous close.

    At the beginning of the week, uranium was being traded around US$52.68 before the energy sector tanked.

    For context, the S&P/ASX 200 Energy (ASX: XEJ) sector is the worst performer across the ASX today with a 4.11% decline.

    In addition, the Global X Uranium ETF (URA) nosedived by 4.04% last night. The index fund covers a number of companies involved in uranium mining and the manufacturing of nuclear equipment.

    This comes as investors have pulled out of the commodity markets in fear of the Fed Reserves’ impending rate hike.

    When interest rates are lifted, this puts pressure on the stock market.

    Nonetheless, as reported by my Fool Colleague Brooke the current global energy crisis could have a positive impact on uranium in the medium-term.

    Boss Energy share price snapshot

    Despite today’s losses, the Boss Energy share price is up 20% in 2022.

    However, when looking over the past 12 months, the share is relatively flat.

    Based on today’s price, Boss Energy presides a market capitalisation of roughly $1.03 billion.

    The post Why is the Boss Energy share price melting 8% lower? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of September 1 2022

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    Motley Fool contributor Aaron Teboneras has positions in Paladin Energy Ltd. 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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  • Here are the 3 most heavily traded ASX 200 shares on Friday

    An office worker and his desk covered in yellow post-it notes

    An office worker and his desk covered in yellow post-it notesIt’s turning out to be a disappointing end to a depressing week for ASX investors this Friday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has lost another nasty 1.38%, dialling back the index to around 6,748 points. At this point, the ASX 200 is on track to lose around 2.2% for the week.

    But let’s not let that ruin our weekends. So rather than dwelling on that, let’s instead take a glance at 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 Friday

    Pilbara Minerals Ltd (ASX: PLS)

    First up today is the ASX 200 lithium share Pilbara minerals. Pilbara has had a hefty 20.2 million shares trade accounts on the market today. This probably has something to do with the notable share price fall this company has suffered through.

    There’s been no news out of Pilbara itself. But the company has retreated from yesterday’s all-time highs and is currently down a chunky 2.45% at $4.58 a share. It’s likely that this market-exceeding fall has prompted the high volume levels we are seeing.

    Atlas Arteria Group (ASX: ALX)

    Next up is a rare guest appearance for this list in ASX 200 toll road operator Atlas Arteria. This Friday has seen a sizeable 22.01 million Atlas shares cross the bridge to a new owner. This company’s presence here is almost certainly the result of the horrible 14.2% drop Atlas has recorded so far to $6.70 a share.

    As my Fool colleague Matthew covered earlier today, this is a result of the company coming out of a trading halt. The proposed acquisition of the US-based Skyway Concession company has not gone down too well with some investors.

    Lake Resources NL (ASX: LKE)

    Our third, final and most traded ASX 200 share this Friday is none other than Pilbara’s fellow lithium share Lake Resources. Today has seen a whopping 24.8 million Lake shares bought and sold on the ASX so far. There hasn’t been much news to go off here.

    But like Pilbara, Lake shares are also dropping today. The company has shed another 3% to 89.5 cents a share, putting its five-day losses at a depressing 33.2%. This drop is probably the reason we are seeing such elevated trading volumes.

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

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of September 1 2022

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    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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  • Why Atlas Arteria, Liontown, St Barbara, and Zip shares are dropping today

    A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.

    A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.

    The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a very disappointing fashion. In afternoon trade, the benchmark index is down a sizeable 1.4% to 6,748.8 points.

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

    Atlas Arteria Group (ASX: ALX)

    The Atlas Arteria share price is down 14% to $6.69. This morning this toll road operator announced the completion of a $2.5 billion institutional entitlement offer. These funds were raised at $6.30 per new share, which represents a discount of 19.3% to its last close price. Atlas Arteria is raising the funds to acquire a 66.67% stake in the Skyway Concession company.

    Liontown Resources Limited (ASX: LTR)

    The Liontown share price is down over 5% to $1.62. Investors have been selling this lithium developer’s shares despite there being no news out of it. However, it is worth noting that the lithium industry is a sea of red today. Investors appear to be selling higher risk shares during this latest market selloff.

    St Barbara Ltd (ASX: SBM)

    The St Barbara share price is down a sizeable 8% to 80.5 cents. This has been driven largely by a pullback in the gold price overnight. Traders have been selling down the yield-less safe haven asset after US treasury yields widened. The S&P/ASX All Ordinaries Gold index is down 4.6% this afternoon.

    Zip Co Ltd (ASX: ZIP)

    The Zip share price is down 3% to 83.5 cents. This follows the broad market selloff and calls for stricter regulations on buy now pay later (BNPL) providers in the United States. The U.S. Consumer Financial Protection Bureau (CFPB) wants to subject BNPL lenders to the same vigorous oversight as credit card companies.

    The post Why Atlas Arteria, Liontown, St Barbara, and Zip shares are dropping today appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of September 1 2022

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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 ZIPCOLTD FPO. 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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  • 3 ASX 200 shares defying Friday’s sell-off to surge higher

    Four businessmen pull martial arts stances as they get into a defensive position.Four businessmen pull martial arts stances as they get into a defensive position.

    The S&P/ASX 200 Index (ASX: XJO) is finishing Friday on a whimper as it’s down 2.98% over the last five days and down 1.36% since the market opened this morning.

    Some of the biggest shares listed on the ASX 200 are in a slump this afternoon, putting downward pressure on the index.

    Some marquee names being painted with a red brush include BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA), down 2% and 0.79%, respectively, for the day.

    But some shares refuse to be pushed down this afternoon. Let’s cover some of the winners.

    Tabcorp Holdings Limited (ASX: TAH)

    Shares of TAB, a well-known gambling entertainment company, are up by a bit at a 3.46% gain.

    Meanwhile, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) is down 0.44%.

    There’s no news today from ASX 200 share TAB to report on, but yesterday morning it published notice of its annual general meeting, which will take place on 26 October in Brisbane.

    Shareholders can vote on the re-election and election of three non-executive directors, among other resolutions.

    Computershare Limited (ASX: CPU)

    ASX 200 tech share Computershare is up 3.47% for the day.

    That’s above the S&P/ASX 200 All Technology Index (ASX: XTX), as it has made a 0.97% loss so far on Friday.

    On Wednesday, Computershare’s shares made it to the top of the leaderboard of the ASX 200’s top performers.

    Computershare’s resilience could be buoyed by its results in FY22. Notably, it expects an earnings per share (EPS) growth of 55% for FY23.

    Reliance Worldwide Corporation Ltd (ASX: RWC)

    Reliance Worldwide is up the least of the three, but with a no less impressive 2.92% gain.

    At the same time, the S&P/ASX 200 Industrials Index (ASX: XNJ) is struggling at a 2.17% loss.

    Reliance Worldwide published an investor presentation yesterday that contained a trading update for its August group sales.

    The update highlighted that all of its regional operating segments saw considerable growth from the previous corresponding period, including the America region, which saw sales lift from 33% to 62%.

    The post 3 ASX 200 shares defying Friday’s sell-off to surge higher appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of September 1 2022

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    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 positions in and has recommended Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. 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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