Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) shares outperformed the ASX 200 today.

Santos shares rose 1.97% to $7.76, while Woodside shares climbed 3.15% to $36. For perspective, the S&P/ASX 200 Index (ASX: XJO) leapt 0.5% today.

It was a good day for ASX 200 energy shares as a whole. The S&P/ASX 200 Energy Index (ASX: XEJ) closed 2.37% higher, making it the best-performing sector index on the ASX.

Let’s take a look at what might have boosted these two energy shares today.

Oil and gas prices rise

Santos and Woodside are major producers of both gas and oil, and the prices of both these commodities rose today.

The brent crude oil price climbed 0.34% to US$96.02 a barrel, while WTI crude oil lifted 0.27% to US$88.15 a barrel, according to Bloomberg. This follows brent crude oil lifting 2.6% overnight and WTI crude oil jumping 3.25%.

Oil prices rose amid record US crude oil exports of 5.1 million barrels a day, Reuters reported. Crude stocks also lifted by 2.6 million barrels last week.

Nissan Securities general manager Hiroyuki Kikukawa, in quotes cited by Reuters, said:

Solid U.S. crude exports raised optimism over demand and prompted fresh buys, but concerns that China’s muddled economic policies may continue under President Xi Jinping’s growing power limited gains in Asia.

Meanwhile, the European natural gas price lifted 4.54% to €104.32 per megawatt hour, Trading Economics data shows.

Benchmark futures lifted amid news that European measures to deal with energy prices were pushed back to 24 November, Bloomberg reported. This could be well into the European heating season, when demand is expected to be high.

In a quarterly report last week, Woodside highlighted it has signed long-term marketing agreements to provide LNG to the European market. CEO Meg O’Neill said:

Woodside entered into a long-term sale and purchase agreement (SPA) with Uniper Global Commodities to supply LNG from our global portfolio from 2023 into Europe, where buyers are urgently seeking alternatives to Russian gas.

Share price snapshot

Woodside shares have soared 64% in the year to date, while the Santos share price has jumped 23%.

For perspective, the ASX 200 has descended around 8% year to date, while the ASX 200 Energy Index has soared 43%.

Woodside has a market capitalisation of more than $68 billion, and Santos has a market cap of nearly $26 billion.

The post Why did Santos and Woodside shares beat the ASX 200 today? appeared first on The Motley Fool Australia.

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More reading

• Batten down the hatches as RBA may hit households with ‘supersized’ interest rate hike on Melbourne Cup day
• Is the Woodside share price a buy for dividends right now?
• 5 things to watch on the ASX 200 on Thursday
• 22 high-yield ASX dividend shares Wilsons is targeting
• 5 things to watch on the ASX 200 on Wednesday

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

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The shares of this S&P/ASX 200 Index (ASX: XJO) coal share have exploded in the past year.

New Hope Corporation Limited (ASX: NHC) shares have soared 195% from $2.13 at market close on 27 October 2021 to the current share price of $6.31 at market close on 27 October 2022.

So what would my investment would be worth now if I had invested in this ASX coal share at the start of the year?

Would a $5,000 investment be worth it?

Let’s imagine I had invested $5,000 in New Hope shares after market close on 27 October 2021.

This investment would have fetched me 2,347 shares with 89 cents left over.

Now, New Hope shares are worth $6.28, based on the share price at the time of writing.

If I’d invested $5,000 in New Hope shares a year ago, my investment would now be fetching $14,739.16.

However, New Hope also pays a dividend to investors. The company will be paying a fully franked final dividend of 31 cents per share and a special dividend of 25 cents per share on 8 November.

In May 2022, New Hope paid an interim dividend of 17 cents per share and a special cash dividend of 13 cents per share. All up, this is 86 cents worth of dividends.

So if I had fetched 2,347 shares a year ago, I would also be pocketing $2,018.42 from dividends including the payment due on 8 November.

Overall, if I had invested in this ASX coal share a year ago, I would be happy with my investment.

New Hope share price snapshot

New Hope shares have soared 183% in the year to date, while they have gained 17% in the past month.

For perspective, the ASX 200 Index has lost 8% year to date.

This ASX 200 coal share has a market capitalisation of $5.53 billion based on the current share price.

The post If I’d spent $5,000 buying this ASX 200 coal share a year ago, here’s what I would have now appeared first on The Motley Fool Australia.

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More reading

• Have ASX 200 high-yield dividend shares been a blessing or a curse in 2022?
• Why Austal, New Hope, Playside, and South32 shares are dropping
• Here are 3 ASX All Ords shares turning ex-dividend this week
• The ASX 200 is roaring higher so why is the New Hope share price sinking 7%?
• 5 things to watch on the ASX 200 on Monday

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

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The S&P/ASX 200 Index (ASX: XJO) spent a fourth consecutive day in the green on Thursday. The index closed 0.5% higher at 6,845.1 points.

That was despite a rough night on Wall Street amid disappointing earnings from the likes of Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc (NASDAQ: GOOGL)(NASDAQ: GOOG), and Boeing Co (NYSE: BA).

The Dow Jones Industrial Average Index (DJX: .DJI) lifted less than 0.01% overnight, the S&P 500 Index (SP: .INX) dumped 0.7%, and the Nasdaq Composite Index (NASDAQ: .IXIC) plunged 2%.

Back home, the S&P/ASX 200 Energy Index (ASX: XEJ) led the way, gaining 2.4% amid rising oil prices.

The Brent crude oil price lifted 2.3% to US$95.69 a barrel overnight, while the US Nymex crude oil price gained 3% to US$87.91 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also outperformed, gaining 1.7%.

Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFJ) and the S&P/ASX 200 Communication Index (ASX: XTJ) weighed, falling 0.4% and 0.7% respectively.

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

Top 10 ASX 200 shares countdown

The index’s best-performing share on Thursday was Ramelius Resources Limited (ASX: RMS).

Interestingly, there was no news from the ASX gold share today. Though, it did release its quarterly update yesterday.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Ramelius Resources Limited (ASX: RMS)	$0.71	8.4%
Sandfire Resources Ltd (ASX: SFR)	$3.67	7%
Regis Resources Limited (ASX: RRL)	$1.56	6.85%
St Barbara Ltd (ASX: SBM)	$0.52	6.12%
Nickel Industries Ltd (ASX: NIC)	$0.75	5.63%
Perseus Mining Limited (ASX: PRU)	$1.885	5.6%
Lynas Rare Earths Ltd (ASX: LYC)	$8.34	5.57%
Imugene Limited (ASX: IMU)	$0.19	5.56%
Smartgroup Corporation Ltd (ASX: SIQ)	$5.04	5.22%
Gold Road Resources Ltd (ASX: GOR)	$1.43	5.15%

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

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

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More reading

• 3 ASX 200 directors who have been buying up their company shares this week
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Champion Iron, Lynas, Newcrest, and Sayona shares are storming higher
• Why is the Qantas share price so volatile today?
• Could these ASX 200 lithium shares grow into dividend juggernauts?

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. 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 Alphabet (A shares), Alphabet (C shares), and Microsoft. The Motley Fool Australia has positions in and has recommended SMARTGROUP DEF SET. The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). 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 Nitro Software Ltd (ASX: NTO) share price soared today after the ASX tech share released a largely positive quarterly activities report and Q3 2022 trading update.

The ASX small-cap share also put out a statement in regard to media speculation relating to possible further takeover bids. The company rejected a takeover proposal from the Potentia Consortium on August 31.

Nitro shares ended the day trading for $1.73 apiece, an increase of 7.45%. For comparison, the All Ordinaries Index (ASX: XAO) gained 0.53%.

Takeover talk

Nitro Software could be in the running for additional takeover bids in the future, as it confirmed this afternoon it had “received expressions of interest from a number of qualified third parties”.

In response to the media’s speculation as to whether it would accept a deal, the ASX tech share reiterated that “there is no certainty that the engagement with any third party will result in a change-of-control transaction capable of being considered by shareholders”.

However, this hasn’t stopped sources from guessing whether or not Nitro will look for a better offer.

The Australian reported yesterday that Nitro could be more open to offers from potential acquirers. These include a rumoured bid that will be received tomorrow that will beat Potentia’s original $386 million deal.

Nitro previously reported a takeover approach on 31 August by the Potentia consortium, consisting of Potentia Capital Management Pty Ltd and HarbourVest Partners LLC. Details of the offer included acquiring 100% of the company for $1.58 per share.

However, Nitro turned down the proposal, noting that growth stocks like itself have been severely discounted. It also noted it has a strong competitive moat with its software-as-a-service PDF productivity e-signing platform.

The latest rumours come after fellow tech share ELMO Software Ltd (ASX: ELO) on Wednesday announced the receipt of a recommendable takeover offer.

Elmo has entered into a scheme implementation deed (SID) with K1 Investment Management. The proposed scheme of arrangement would see Elmo shareholders receive $4.85 cash per share.

The buyout proposal is at a relative bargain to its previous valuations. This could suggest tech companies in this environment are still open to being bought out despite receiving what could be considered lowballed offers.

Nitro reports strong Q3 FY22 results

Potential acquirers of Nitro Software could be giving the All Ords share a second look today following the company’s latest quarterly updates.

Highlights included strong reported improvements in its fundamentals. These included annual recurring revenue (ARR) growing 51% year over year and record cash receipts from customers. It also reported a strong financial position with US$29.2 million (AU$ 44.95 million) in cash on its balance sheet.

These developments could give Nitro better leverage at the negotiating table.

Nitro Software share price snapshot

The Nitro Software share price is down around 30% year to date. The All Ords, meanwhile, is down around 9% over the same period.

The company’s market capitalisation is around $394.55 million.

The post Up 7% today, could this ASX All Ords tech share be in for more takeover bids? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX tech shares totally crushing the All Ords following big announcements
• Experts say these small cap ASX shares are buys

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 Elmo Software. The Motley Fool Australia has positions in and has recommended Elmo Software. The Motley Fool Australia has recommended Nitro Software 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 S&P/ASX 200 Index (ASX: XJO) is once again enjoying some time in the sun as we head towards the conclusion of this Thursday’s trading session. 

At the time of writing, the ASX 200 is up by a robust 0.59% at around 6,850 points.

So now it’s time to delve a little deeper into these market moves. Let’s check out the ASX 200 shares that are presently at the peak of the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium producer Pilbara Minerals is first up this Thursday. So far today, a chunky 19.75 million Pilbara shares have been swapped on the share market. There hasn’t been any news out of Pilbara for this session.

However, we have seen a very healthy move in the Pilbara share price itself. Currently, the lithium share is enjoying a 2.51% boost to $5.11 a share. This looks to be the cause of the high volumes we are seeing.

Medibank Private Ltd (ASX: MPL)

For the second day in a row, ASX 200 health insurance provider Medibank Private makes the list. Medibank has seen a decent 28.57 million of its shares bought and sold so far this Thursday. After returning from its trading halt yesterday, Medibank had a shocker.

But investors seem to be in a forgiving mood during this session, and have sent the company back up by 1.05% to $2.90 a share. With all of the drama surrounding this company at present, these kinds of volumes are not entirely unexpected.

Core Lithium Ltd (ASX: CXO)

Finally today, we have another ASX 200 lithium stock in Core Lithium. Today has seen a whopping 51.47 million Core Lithium shares exchanged so far. This probably is a consequence of the depressing announcement the company made to investors this morning.

As we covered at the time, Core announced that its supply deal with electric vehicle manufacturer Tesla has collapsed.

The two companies reportedly failed to come to terms for the supply of lithium spodumene concentrate that both sides could agree upon. Investors haven’t reacted kindly, with Core Lithium shares down a painful 5.5% at $1.38 each. This is almost certainly the cause of the elevated trading activity we are seeing.

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

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More reading

• Is the NIB share price benefitting from Medibank’s woes?
• Why ‘long-term lithium prices are far too low’: Wilsons
• Why ANZ, Australian Clinical Labs, Core Lithium, and Kogan are sinking today
• Why is the Qantas share price so volatile today?
• Could these ASX 200 lithium shares grow into dividend juggernauts?

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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Is the NIB Holdings Limited (ASX: NHF) share price benefitting from the woes of its arch-rival Medibank Private Ltd (ASX: MPL) this week?

Medibank has certainly had one of the worst weeks in its eight years or so of its public history. The company suffered a well-publicised cyber attack earlier this month which left potentially millions of customers’ healthcare data exposed.

Medibank shares went into a trading halt on this news on 13 October and again last week, only returning back to the markets yesterday.

But investors were brutal in their reception of the ASX health insurance provider. Medibank closed at $2.87 a share yesterday, a good 18.2% or so from its pre-halt levels.

The company initially fell again today, down to a new 52-week low of $2.76. However, it has recovered since then and is presently up by 0.70% at $2.89 a share.

So how is the NIB share price reacting to all of this news in its backyard?

Is the NIB share price benefitting from Medibank’s woes?

Well, if you thought NIB shares would be the main beneficiaries of its rivals’ woes, you’d be dead wrong. For one, NIB shares are deep in the red today, nursing a loss of 1.6% to $6.65 a share.

But NIB shares have been on the slide for weeks now. In fact, the company began falling dramatically in value from 13 October onwards, around the date the Medibank cyberattack became public knowledge.

However, this could be something of a coincidence. For on that date, NIB shares returned from a trading halt of their own. But this had nothing to do with cybersecurity or Medibank.

As we covered at the time, NIB shares were halted so that the company could conduct a capital raising. NIB ended up raising $135 million to facilitate its expansion plans into the national disability insurance scheme (NDIS). NIB intends to become a Plan Manager with its acquisition of Maple Plan.

So it seems that investors could have been voicing their disapproval of these plans with the share price drops we saw around then. Or else lowering the NIB share price to the $6.90 that the institutional placement took place at.

Either way, it’s certainly a raucous period in both Medibank and NIB’s histories. But we can conclude that Medibank’s share price woes of late don’t seem to be benefitting the NIB share price at all.

The post Is the NIB share price benefitting from Medibank’s woes? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Codan, Coles, Medibank, and Pilbara Minerals shares are sinking
• Medibank share price plunges 15% as cyberattack bites into outlook
• 22 high-yield ASX dividend shares Wilsons is targeting
• Medibank share price remains suspended amid worsening cyber incident

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 recommended NIB Holdings 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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It has been a busy day for the S&P/ASX 200 Index (ASX: XJO) with plenty of updates hitting the wires.

For example, three ASX 200 shares that have released trading updates today are listed below. Here’s how they are performing in FY 2023:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 1.5% to $17.41 following the release of a trading update at the corporate travel manager’s annual general meeting.

Corporate Travel Management revealed that it had a record month in September, with total transaction value (TTV) at approximately $0.8 billion. And while its revenue recovery was only at 75% of pre-COVID levels, it has climbed higher in October. This bodes well, as consensus estimates require a ~80% revenue recovery across FY 2023.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up slightly to $42.92. This follows a solid update from the retail giant this morning.

JB Hi-Fi advised that all its businesses have delivered double-digit sales growth during the first quarter of FY 2023. The JB Hi-Fi Australia business posted a 14.6% increase in sales, the New Zealand business delivered a 27.7% increase in sales, and The Good Guys business reported a 12.3% increase in sales.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is up 3% to $10.03. This morning the owner of brands including Rebel and Super Cheap Auto released a trading update ahead of its annual general meeting.

That update reveals that like for like sales were up 20% during the first 16 weeks of FY 2023. Though, it is worth highlighting that lockdowns were occurring in the prior corresponding period. As a result, management has warned investors not to extrapolate this growth. Another positive was that its gross margin remains consistent with the same period last year.

Management also warned that “[w]hile current trading remains strong, the Group expects higher mortgage rates and increased cost of living expenses will begin to impact consumer spending.”

The post 3 ASX 200 shares rising after Q1 trading updates appeared first on The Motley Fool Australia.

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More reading

• Why is the Qantas share price so volatile today?
• 5 ways to be carefree during the next ASX share market downturn
• 3 ASX 200 shares I’d pounce on when the clouds clear: expert
• Top brokers name 3 ASX shares to buy today
• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising

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 Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited and JB Hi-Fi 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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Three ASX mining shares are lifting higher along with the materials sector on Thursday.

The S&P/ASX 200 Materials Index (ASX: XMJ) is currently the second-best performing sector index with a 1.5% gain in afternoon trade. It’s second only to the S&P/ASX 200 Energy Index (ASX: XEJ), which is up 2.18%.

Meanwhile, the broader market is also seeing a rise, with the S&P/ASX 200 Index (ASX: XJO) up 0.54%.

So let’s cover which ASX mining shares are climbing along with the rest of the market.

Koba Resources Ltd (ASX: KOB)

The Koba Resources share price rocketed 136% earlier today before the shares were placed in a trading halt at the request of the company. The shares were trading hands for 26 cents apiece at the time of the freeze.

Shares lept amid the ASX mining share announcing claims at its Whitlock Lithium project covering an area of 145km2.

Earlier this morning, my Fool colleague Monica gave details about the potential of the stake, stating:

The project is located immediately on strike from the Tanco mine, which has lithium reserves of 7.3 Mt at 2.76% lithium oxide. Also nearby, are lithium resources including 10.2 Mt at 1.4% Li2O2, 3.6Mt at 1.28% Li2O3 and 1.1Mt at 1.51% Li2O4.

Trading of Koba Resources’ shares is currently under a voluntary trading halt pending an announcement from the company. Shares will go back on the market when the announcement is made, or on 31 October.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is also having a cracker of a Thursday, up 21.43% to 85 cents. Earlier today, the ASX mining share, which listed on the ASX in February this year, hit a new all-time high of 99 cents before partially retreating.

Like Koba Resources, WA1 also posted a company update to the market this morning, which included its first drill results in Western Australia.

The company discovered mineralised carbonate with significant yields of niobium. It also announced that it had drilled seven holes as part of its maiden drill program.

Further assay results are due for its P1 and Luni targets in the coming weeks.

Aurelia Metals Ltd (ASX: AMI)

Aurelia Metals is another strong performer. The Aurelia share price is currently up 17% to 12 cents.

Investors could be feeling bullish on the release of the ASX mining share’s quarterly update and activities reports that both hit the market this morning.

Indeed, in its outlook, the company expects its output to reach full maximisation during the December quarter this year. At the same time, its expenses are expected to fall during the next financial year.

As for its activities, it produced 22,500 ounces of gold at an all-in-sustaining cost (AISC) of $2,643/oz. It also saw positive results from its metal production, which is falling in line with FY23 planning.

The post 3 ASX mining shares going gangbusters on Thursday appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares leaping more than 10% on quarterly updates
• Guess which ASX lithium share is soaring 136% on big news

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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As we discussed earlier this week, there is something funny going on with Telstra Corporation Ltd (ASX: TLS) shares of late.

Telstra is one of the S&P/ASX 200 Index (ASX: XJO)’s most famous and dominant blue chip shares. It’s also a company the vast majority of Australians would be familiar with.

Since Telstra has been listed on the ASX for more than two decades now, most investors would be familiar with its ticker code ‘TLS’.

And yet, the old Telstra that we all know and (maybe) love is looking a little different this week.

For one, requesting a price quote for ‘TLS shares’ might not be very fruitful.

Instead, one will find the current Telstra share price using the code ‘TLSDA’. That doesn’t quite roll off the tongue in the same way, one could argue.

So we have TLS and TLSDA. Does this mean that Telstra now has two ticker codes?

Is it TLS or TLSDA for Telstra shares?

Well, not quite. At the moment, the TLS ticker code is dormant. But not extinct. Telstra is actually in the midst of a corporate and legal restructuring. Its name will soon change to ‘Telstra Group Limited’ rather than ‘Telstra Corporation Limited’.

This reflects that Telstra will soon be, legally anyway, a new holding company for its four now-separate underlying businesses: ServeCo, InfraCo Fixed, Amplitel and Telstra International.

According to the company, it is undertaking this revamp to “increase focus on its customer and infrastructure businesses, increase transparency of the assets in these businesses, and create greater flexibility and optionality to realise value from the Telstra Group’s fixed infrastructure assets over time”.

But when this whole operation is complete, traditionalists will be relieved to know that Telstra shares will return to their old TLS ticker code. This is expected to occur on 1 November.

Until then, remember to use TLSDA for looking up the prices on Telstra shares.

The post Are there now 2 lots of Telstra shares trading on the ASX? appeared first on The Motley Fool Australia.

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More reading

• 22 high-yield ASX dividend shares Wilsons is targeting
• Analysts say these high quality blue chip ASX 200 shares are buys
• Here’s how I allocate my ASX share portfolio and why
• Headwinds for Telstra shares are now behind them: expert
• Which ASX 200 shares could benefit from the federal budget?

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation 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 positions in and has recommended Telstra 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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The S&P/ASX 200 Index (ASX: XJO) is having a solid day on Thursday and is on course to record another gain. In afternoon trade, the benchmark index is up 0.55% to 6,849.3 points.

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

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price is up 5% to $5.25. This follows the release of the iron ore miner’s half year results. Investors have been buying the company’s shares despite it reporting a 34% decline in revenue to C$579.9 million and an 82% decline in profit to C$61.1 million. They may have been expecting an even softer result.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 7% to $8.48. Once again, this was despite the company reporting a sizeable decline in revenue. For the first quarter, Lynas posted a 44.4% quarter on quarter decline in sales revenue to $163.8 million. The company blamed some of this softness on a “catastrophic” water shortage that reduced its overall production volumes.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is up 3% to $17.92. This morning this gold miner released its first quarter update and revealed gold production of 527koz and copper production of 32kt. While this was down on the prior corresponding period, this was due partly to planned maintenance. In addition, the company remains on track to achieve its annual guidance.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 5% to 26.8 cents. Investors have been buying this lithium developer’s shares following the release of an update on its 75% owned North American Lithium (NAL) operation in Quebec, Canada. That update reveals that the company has further advanced the restart of production at NAL. It is expecting production to commence during the first quarter of 2023.

The post Why Champion Iron, Lynas, Newcrest, and Sayona shares are storming higher appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 gold shares smashing the benchmark returns today?
• Lynas share price jumps despite 44% revenue fall
• Sayona Mining share price higher on lithium project update
• Newcrest share price up 5% on strong Q1 update
• Is the Lynas share price a buy ahead of tomorrow’s update?

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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