The S&P/ASX 200 Index (ASX: XJO) spent a fourth consecutive day in the green on Tuesday. The index closed 0.65% higher at 7,009.70 points.

The S&P/ASX 200 Real Estate Index (ASX: XRE) led the way today, lifting 1.6%.

Also outperforming were the S&P/ASX 200 Utilities Index (ASX: XUJ) and the S&P/ASX 200 Energy Index (ASX: XEJ), each rising 1%.

On the other end of the market was the S&P/ASX 200 Health Care Index (ASX: XHJ). It tumbled 0.75% amid seemingly dire news of Ramsay Health Care Limited (ASX: RHC)’s takeover talks.

Meanwhile, the S&P/ASX 200 Information Technology Index (ASX: XIJ) fell 0.3%. It was weighed down by the Link Administration Holdings Ltd (ASX: LNK) share price, which tumbled 20% on more disappointing takeover-related news.

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

Top 10 ASX 200 shares countdown

The Chalice Mining Ltd (ASX: CHN) share price was the iconic index’s biggest gainer on Tuesday, lifting around 10%.

That’s despite no news having been released by the mineral explorer. Find out what the company’s been up to lately here.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Chalice Mining Ltd (ASX: CHN)	$4.59	9.81%
Novonix Ltd (ASX: NVX)	$2.43	7.52%
Brainchip Holdings Ltd (ASX: BRN)	$1.005	5.79%
Hub24 Ltd (ASX: HUB)	$23.80	5.73%
Clinuvel Pharmaceuticals Limited (ASX: CUV)	$23.14	4.8%
Core Lithium Ltd (ASX: CXO)	$1.665	4.72%
City Chic Collective Ltd (ASX: CCX)	$1.805	4.64%
Home Consortium Ltd (ASX: HMC)	$5.01	4.59%
Star Entertainment Group Ltd (ASX: SGR)	$2.78	4.51%
Zip Co Ltd (ASX: ZIP)	$0.935	4.47%

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.

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More reading

• Why did the Core Lithium share price leap another 6% on Tuesday?
• Why is the Novonix share price soaring 7% on Tuesday?
• Why Grange, Link, Ramsay, and Whitehaven Coal shares are dropping
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Star Entertainment share price jumps despite ‘shocking’ report

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 Hub24 Ltd, Link Administration Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Ramsay Health Care 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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The Core Lithium Ltd (ASX: CXO) share price has been on the rise again today.

Core Lithium shares rose 4.72% on Tuesday to close trade at $1.66. However, earlier in the day, the Core Lithium share price jumped 6.1%. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) finished 0.5% higher today.

Let’s take a look at why the Core Lithium share price could be rising.

Lithium price outlook strong

Core Lithium shares are lifting amid more positive sentiment for lithium prices in 2022.

Bell Potter analysts have increased their lithium price forecasts up to 2024, although the broker expects prices to peak this year.

Analysts are predicting a spodumene concentrate price per tonne of US$5,353 in 2022. In 2023, Bell Potter predicts the price will be US$4,735, before dropping to US$1,775 in 2024.

Core Lithium is exploring lithium at the Finniss Lithium project near the Darwin Port in the Northern Territory. The company is targeting spodumene production from this project by the end of 2022.

Commenting on the lithium outlook, Bell Potter said:

Our outlook for Australian supply compiles recent company announcements. In the current inflationary and logistically constrained economic environment, we see this collective outlook as aspirational. Over the next five years, growth in Australian supply will at best meet only one third of total growth in lithium demand.

New supply will also come from new and expanding brine projects. However, prolonged ramp-up, technical challenges and sovereign risks are likely to constrain these riskier developments

Core Lithium is not the only ASX lithium explorer to rise today. The Allkem Ltd (ASX: AKE) share price finished 2.96% higher today, while Pilbara Minerals Ltd (ASX: PLS) climbed 3.72%. Meanwhile, the Lake Resources NL (ASX: LKE) share price rose 0.79%.

Core Lithium share price snapshot

The Core Lithium share price has exploded 376% in the past year, while it has soared 182% year to date.

In the past month alone, Core Lithium shares have climbed more than 13%.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has climbed 0.84% in the past year.

The post Why did the Core Lithium share price leap another 6% on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• Why Allkem, MA Financial, Neuren, and Vulcan Energy shares are pushing higher
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Are Yamaha and Toyota about to upend the ASX lithium share party?
• Broker tips 100% upside for Lake Resources share price
• Runaway train? Pilbara Minerals share price leaps to yet another all-time high

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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With a current $4.74 billion in funds under management, the Vanguard MSCI International Shares Index ETF (ASX: VGS) is one of the more popular exchange-traded funds (ETFs) on the ASX.

In fact, it is the second-most popular ETF covering non-ASX shares on the markets right now. However, this ETF from the reputable Vanguard Group, might not be all that investors might think.

This ETF’s name – the Vanguard MSCI International Shares Index ETF – implies that this is a broad-based and highly diversified fund covering many different shares from multiple markets around the world.

And indeed it is so. Vanguard tells us that this ETF currently has almost 1,500 underlying holdings. These are sources from more than 20 different advanced economies from around the globe. They include Canada, Japan, the United Kingdom, France, Switzerland, Germany, Hong Kong, Israel, Singapore and Norway.

Broad and diversified right? Well, yes. And no.

Is the Vanguard International Shares ETF just a bet on Uncle Sam?

See, the Vanguard International Shares ETF mirrors an index compiled using weighted market capitalisation, just like almost every index fund out there.

This method gives the largest companies by market cap the largest positions in the ETF’s underlying portfolio, and the smallest ones the smallest positions.

In the Vanguard International Shares ETF’s case, this methodology has resulted in a fairly top-heavy portfolio. To illustrate, let’s look at the ETF’s top ten positions. Yes. the fund has almost 1,500 individual shares in its portfolio. However, its top ten shares comprise a whopping 19.7% of the portfolio’s weighting.

That means that almost $1 in every five invested in this ETF is going to just ten companies. Out of nearly 1,500. These include names like Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Tesla Inc (NASDAQ: TSLA) and Exxon Mobil Corporation (NYSE: XOM).

What’s more, is that all ten of these top companies in the ETF are US companies. In fact, a whopping 71% of the Vanguard International Shares ETF’s portfolio by weighting is concentrated in US markets. That leaves just 29% of the ETF’s portfolio in markets outside the US.

So perhaps not quite as broad and diversified as one might initially think.

There’s nothing inherently wrong with this approach of course. This Vanguard ETF still faithfully follows the index it is designed to track. But if an investor was expecting an ETF that spreads its investments across a more equalised range of markets, companies and countries, they might want to look elsewhere. This is a very US-heavy ETF at the end of the day.

The post Here’s why the Vanguard International Shares ETF isn’t what it seems appeared first on The Motley Fool Australia.

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More reading

• With most investors thinking the next big move in the stock market is down, Warren Buffett says times like these are your friend
• What are the main holdings in the Vanguard MSCI Index International Shares ETF (VGS)?
• 3 fantastic ETFs for ASX investors to buy in September
• Could these ASX ETFs soon play a bigger role in Aussie super funds?
• 2 of the best ETFs for ASX investors to buy in September

Motley Fool contributor Sebastian Bowen has positions in Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Microsoft, Tesla, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and Vanguard MSCI Index International Shares 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 National Australia Bank Ltd (ASX: NAB) share price closed higher on Tuesday.

This comes after the bank’s venture business appeared to be going in for a second round of providing capital to payments technology provider DataMesh.

At market close, the banking giant’s shares finished the session up 0.97% to $30.28 each. Meantime, the S&P/ASX 200 Index (ASX: XJO) also gained 0.65% on the day.

NAB back for seconds?

The NAB share price enjoyed a day in the green following a recent report by the Australian Financial Review.

According to the publication, DataMesh is seeking to raise $15 million from NAB as part of its $115 million pre-money valuation.

The term ‘pre-money valuation’ refers to the value of a company before it goes public or receives other investments. This can be external funding or financing from venture capitalists, private equity investors, or corporate investors.

DataMesh touts itself as a ground-breaking technology company that helps merchants deliver a seamless in-store and online experience. It provides low-cost and flexible payment terminal solutions integrated with leading point-of-sale systems.

Last year, DataMesh secured $12 million in a pre-Series A funding round which included NAB Ventures as a small investor.

This time around, it is expected that NAB will write another cheque to DataMesh.

The remaining amount will likely be covered by other strategic investors with fintech experience.

NAB share price summary

Despite backtracking 1.4% in the past month, the NAB share price has risen by 5.24% in 2022 so far.

The bank’s shares reached a 52-week high of $33.75 on 21 April, before investors took profit off the table.

It’s worth noting that even at today’s prices, the company’s shares are trading above pre-COVID-19 levels.

NAB commands a market capitalisation of approximately $96 billion, making it the fourth largest company on the ASX.

The post Why is NAB investing in this Aussie payments start-up? appeared first on The Motley Fool Australia.

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• Billions in liabilities could be set to hit CBA and other ASX banks: expert
• Are NAB shares a better ASX 200 bank to buy than CBA right now?
• Why is the NAB share price diving more than the other big 4 ASX banks today?
• Why rising rates are a ‘sugar hit’ for ASX 200 bank shares: Macquarie
• NAB shares offer 15% upside and growing dividends: broker

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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The Novonix Ltd (ASX: NVX) share price is soaring today to become one of the top performers on the ASX.

At the time of writing, the battery technology company’s shares are up 7.08% to $2.42.

In contrast, the S&P/ASX All Ordinaries Index (ASX: XAO) is 0.57% as the rally continues following upbeat investor sentiment.

What’s powering Novonix shares ahead?

Despite the company not releasing any announcements since its full-year results, the Novonix share price is surging today.

This comes as a number of lithium and battery tech shares are rising following recent broker upgrades.

The share price of lithium producer Pilbara Minerals Ltd (ASX: PLS) rocketed to an all-time high of $4.79 earlier in the day.

Similarly, the Allkem Ltd (ASX: AKE) share price also roared into uncharted territory.

As reported by my Fool colleague James, both Macquarie and Bell Potter believe lithium prices still have further to run.

This is due to the pent-up demand for electric vehicles and the widening supply gap in the market at the moment.

A report by the IEA anticipates that demand will grow by more than 40 times over the next two decades. Furthermore, graphite, cobalt and nickel are expected to follow, with demand accelerating to about 20-25 times.

Nonetheless, the global need for lithium is pushing ASX-listed materials shares to record levels.

The S&P/ASX 200 Materials (ASX: XMJ) sector is up 6% in the past week and could go higher given the positive outlook on the lithium industry.

Novonix share price snapshot

In the early part of 2022, the Novonix share price became the new ‘it’ child after rising almost 1,000% over the previous year.

However, the shares gradually tumbled throughout 2022 until hitting a year-to-date low of $1.94 in July.

While there’s been a slight recovery over the last few months, the company’s shares are down 73% for the year.

Novonix commands a market capitalisation of around $1.1 billion.

The post Why is the Novonix share price soaring 7% on Tuesday? appeared first on The Motley Fool Australia.

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• Who owns shares in ASX tech company Novonix right now?
• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price soaring 11% today?
• Why is the Novonix share price smashing the ASX 200 on Wednesday?
• Slide continues: Novonix share price dumps 14% in 2 days

Motley Fool contributor Aaron Teboneras has positions in Pilbara Minerals Limited. 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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Junior gold miner Greatland Gold plc (LON: GGP) has received a funding boost to the tune of up to $120 million from Fortescue Metals Group Limited (ASX: FMG) boss Andrew ‘Twiggy’ Forrest’s private company.

As a result, Twiggy’s Wyloo Metals will be the London-listed miner’s largest shareholder ahead of its planned ASX float.

Let’s take a closer look at the company and its connection with the S&P/ASX 200 Index (ASX: XJO) giant.

Fortescue boss backs ASX hopeful

Twiggy has invested up to $120 million into Greatland ahead of its planned Australian listing.

That could see the Fortescue boss walk away with a 14.6% stake in the soon-to-be ASX-listed junior miner.

The Aussie billionaire’s Wyloo has snapped up around 430 million shares at 8.2 pence (14 cents) apiece, totalling $60 million.

It will also receive warrants to subscribe to approximately 352 million shares at an exercise price of 10 pence (around 17 cents) apiece. If exercised in full, that will provide another $60 million.

And it looks like Australian retail investors won’t have to wait long to get in on the action. Greatland Gold recently flagged its intent to float on the ASX within the coming 12 months.

The company has also received commitments for a $220 million debt syndicate with three leading banks, including Australia and New Zealand Banking Group Ltd (ASX: ANZ).

The cash is earmarked to help fund the junior miner’s 30% stake in the Havieron copper-gold development project and its exploration in Western Australia’s Paterson region. It will see it fully funded through to production and free cash flow.

Commenting on the investment, Wyloo CEO Luca Giacovazzi said:

Havieron is a tier one deposit that continues to grow in scale and quality … The Paterson range is emerging as Western Australia’s next prolific mining province, and Greatland has an expansive tenement package.

We are excited to be a part of the development of what we expect will be a low cost, modern mining operation with very high environmental and social standards.

Additionally, two notable Fortescue names have been appointed to the ASX hopeful’s board.

Fortescue’s deputy chair Mark Barnaba will step up as its chair next year. Meanwhile, former CEO Elizabeth Gaines will take up the role of deputy chair.

The post Fortescue’s Twiggy piles $120m into junior miner slated for ASX listing appeared first on The Motley Fool Australia.

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• 3 ASX 200 mining shares going great guns on Monday
• Here’s how long I plan to hold my Fortescue shares
• 5 things to watch on the ASX 200 on Monday
• Why did ASX 200 iron ore shares have such a strong end to the week?
• Here are the top 10 ASX 200 shares 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.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. At the time of writing, the benchmark index is up 0.65% to 7,009.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Grange Resources Limited (ASX: GRR)

The Grange Resources share price is down 7.5% to 78.7 cents. Part of this decline has been driven by the iron ore pellet company’s shares trading ex-dividend this morning for its latest dividend. Eligible shareholders will receive Grange Resources’ 2 cents per share fully franked dividend at the end of the month on 30 September.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price has crashed 20% to $3.57. Investors have been selling this administration services company’s shares amid doubts over its takeover. This follows news out of the UK which threatens to scupper the transaction. To gain its approval for the deal, the UK Financial Conduct Authority is asking Dye & Durham to put down A$519 million towards redress payments relating to the now-collapsed Woodford Equity Income Fund.

Ramsay Health Care Limited (ASX: RHC)

The Ramsay share price is down 10% to $62.98. This follows news that a consortium led by KKR has refused to increase its $88 per share offer after Ramsay rejected it. The private hospital operator described the offer as “meaningfully inferior.” However, it has left the door open for KKR to post an improved bid. Though, investors don’t appear confident that one is coming.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 2.5% to $8.39. This appears to have been driven by news out of Europe. According to Reuters, energy companies in the EU, such as coal miners, could be required to make a solidarity contribution to help offset the effects of the continent’s ongoing energy crisis.

The post Why Grange, Link, Ramsay, and Whitehaven Coal shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Why is the Whitehaven share price lagging behind the ASX 200 on Tuesday?
• Ramsay share price tumbles 11% as suitor refuses to improve takeover offer
• Why is the Link share price crashing 20%?
• Why is the Grange Resources share price falling in a hole on Tuesday?
• No deal? Here’s why the Ramsay share price is on ice

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 Link Administration Holdings Ltd. The Motley Fool Australia has recommended Ramsay Health Care 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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The Tyranna Resources Ltd (ASX: TYX) share price has had a cracking week, up 53% since market close on 5 September.

Shares in the ASX mineral explorer are certainly outpacing the 6.04% gain in the S&P/ASX 200 Materials Index (ASX: XMJ) over the same period.

And Tyranna is also outperforming its peer group. Cannindah Resources Ltd (ASX: CAE) is up 6.82% while Bougainville Copper Limited (ASX: BOC) is 3.23% higher.

Tyranna shares hit an all-time high of 6.7 cents apiece shortly after market open today and are currently trading 10.71% lower at 5 cents a share.

While there are no announcements from the company today, some significant developments have accompanied the surge in the Tyranna share price. Let’s investigate.

ASX Lithium shares are surging

On 22 August, the company reported “outstanding results” from its Namibie lithium project in Angola, Africa.

Tyranna executive director Paul Willams said:

We are very excited by these results which provide further encouragement and confirmation that the Namibe Lithium Project contains substantial high grade spodumene mineralisation and justifies Tyranna’s acquisition of what is proving to be a valuable project. We have defined a larger drill-target area at the site known as 21n, and these results in particular provide further confidence in designing our maiden drilling program. We are looking forward to the next phase of exploration to test these areas at depth.

Meanwhile, ASX lithium shares, on the whole, are surging amid upgraded analyst price targets for the element.

Today, Bell Potter lifted its lithium price targets through to 2024. It expects prices to be underpinned by strong demand and slower-than-expected supply increases. It commented:

Over the next five years, growth in Australian supply will at best meet only one third of total growth in lithium demand.

Analysts also see no slowdown in demand for electric vehicles (EVs).

Certainly, ASX lithium shares are benefiting from the boosted sentiment, with one commentator dubbing lithium stocks “the buy now, pay later of 2022“.

Nabtrade’s Gemma Dale said it seemed lithium shares are “the one[s] that everyone wants a piece of when the market is not that exciting,” as reported by The Age.

Certainly, the current market enthusiasm for lithium is doing Tyranna shares no harm.

Tyranna share price snapshot

The Tyranna share price is up 643% year to date and 940% in the past 12 months. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 5.8% and 5.6% over the corresponding periods.

The company’s current market capitalisation is $122 million.

The post Why has the Tyranna Resources share price rocketed 53% in a week? appeared first on The Motley Fool Australia.

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More reading

• Why is ASX lithium share Tyranna rocketing 26% today?

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.

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The Dogecoin (CRYPTO: DOGE) price is up just under 1% over the past 24 hours, currently trading for 6.35 US cents.

That also puts the dog-themed crypto, with a Shiba Inu for its virtual mascot, up roughly 1% since the clock struck midnight on 31 August, according to data from CoinMarketCap.

While it’s still early in September, that’s certainly better than the 12% decline in the Dogecoin price last month.

What’s supporting the Dogecoin price?

Most cryptos have had a stronger run so far this month than they enjoyed in August.

Part of that is the current reset in investor expectations over the size and pace of interest rate rises from the US Federal Reserve and, to a lesser extent, other global central banks. A reset that could send the Dogecoin price higher.

While uncertainty remains the name of the game, markets are beginning to price in the potential of a more dovish Fed moving forward. There’ll still be some rate rises to bring inflation back under control, to be sure. But perhaps fewer and smaller hikes than investors had been pricing in last month.

This optimism has seen risk assets rally over the past week, with the tech-heavy NASDAQ up 3.8% over the past five trading days.

Is Ethereum helping lift the meme token?

The Dogecoin price could also be receiving some broader support from the upcoming Merge on the Ethereum (CRYPTO: ETH) network. That process is scheduled to go fully live this week.

According to eToro’s market analyst and crypto expert Simon Peters:

Crypto asset markets have staged a rally in the past week as we enter the final 72 hours ahead of the Merge of the Ethereum network. The event is focusing all minds in the sector as investors and users wait to see its impact on the market.

If you’re unfamiliar with the Merge, it represents the long-awaited transition in the Ethereum blockchain away from proof of work (PoW) to proof of stake (PoS). If all goes as planned, this will see a massive reduction in energy used required to secure the blockchain and verify transactions, with far fewer computers involved.

Like Bitcoin (CRYPTO: BTC), however, Dogecoin will continue to operate a PoW protocol for the foreseeable future.

How that may impact the Dogecoin price longer term, remains unclear.

The post What’s supporting the Dogecoin price in September? appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin and Solana jumped on Monday
• Can the Bitcoin price reach US$1 million?
• Will the Ethereum price continue to outperform in 2022 post Merge? Expert panel weighs in
• Why the Bitcoin price is not having a ‘whale of a time’ lately
• Why Bitcoin, Ethereum, and Solana were up Thursday morning

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 Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. 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) is on form again on Tuesday. In afternoon trade, the benchmark index is up 0.7% to 7,010.9 points.

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

Allkem Ltd (ASX: AKE)

The Allkem share price is up 3% to $16.00. This appears to have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has retained its buy rating and lifted its price target on the lithium miner’s shares to $20.04. Bell Potter made the move after increasing its earnings estimates by 20% for both FY 2023 and FY 2024 to reflect stronger than expected lithium prices.

MA Financial Group Ltd (ASX: MAF)

The MA Financial share price has rebounded and is up almost 8% to $4.30. This financial services company’s shares were hammered on Monday amid concerns over changes to significant investment visas. However, MA Financial, formerly known as Moelis, doesn’t appear overly concerned. It revealed that 63% of its assets under management (AUM) are non-migration related.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up 5% to $6.53. This morning the biotech revealed that the US Food and Drug Administration (FDA) has accepted for review the New Drug Application of trofinetide for the treatment of Rett syndrome. The FDA has also granted a Priority Review and assigned a Prescription Drug User Fee Act action date of 12 March 2023.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up 6.5% to $8.47. Investors have been buying this lithium developer’s shares after it provided an update on the progress of its Zero Carbon Lithium Project. Today’s update reveals that the company has commenced the onsite construction of a demo plant. The plant is scheduled to start cold commissioning in late 2022 and start operation in early 2023.

The post Why Allkem, MA Financial, Neuren, and Vulcan Energy shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Are Yamaha and Toyota about to upend the ASX lithium share party?
• Top broker tips 25% upside for Allkem share price
• ASX lithium stocks are ‘the buy now, pay later of 2022’: expert
• Here’s the lithium price forecast through to 2024
• MA Financial share price leaps 8% following Monday’s bloodbath

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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