The S&P/ASX 200 Materials Index (ASX: XMJ) lifted 0.82% today, but three ASX mining shares soared much higher.

Astron Pty Ltd (ASX: ATR), Cobre Ltd (ASX: CBE), and Oceana Lithium Ltd (ASX: OCN) all rocketed ahead today.

So why did these ASX mining shares have such a great day?

Cobre

The Cobre share price soared 28.5% today. Cobre’s share price has exploded 210% over the past five days. Cobre is exploring copper in Botswana and Western Australia. Investors appear to be buying up Cobre shares on the back of two positive announcements this week. On Tuesday, Cobre revealed drilling had intersected with a “new significant copper intersection” at the Ngami Copper Project in Botswana. Furthermore, Cobre revealed it had received notice of renewal on five exploration licences yesterday.

Astron

The Astron share price surged nearly 17% today. The company is developing the Donald Mineral Sands and Rare Earth project in the Murray Basin, Victoria. This is said to be one of the biggest zircon and titanium resources in the world. On Thursday, Astron provided an update on this project.

A preliminary estimate of phase one operations over a 35-year time frame profile is 250,000 to 300,000 tonnes per annum of heavy mineral concentrate and 7,000 to 10,000 tonnes per annum of Renewable Electronic Energy Coin (REEC).

Meanwhile, as my Foolish colleague Tony reported on Wednesday, one expert has singled out Astron as an ASX share that is “clearly under the radar”.

Collins Street Asset Management chief investment officer Vasilios Piperoglou said:

They have a very large, I believe one of the world’s largest, undeveloped zirconium and rare earth projects. It has a potential 50-year mine life. You could argue it’s a tier-one asset in a tier-one jurisdiction.

Oceana Lithium

The Oceana Lithium share price rocketed 17% on Friday. Oceana is exploring lithium in Ceara, Brazil, and the Northern Territory. Oceana’s share price has lifted 18% this week despite no news from the company. However, last week Oceana advised the market it had started fieldwork at two lithium projects in Brazil and Australia. At the flagship Solonopole project in Brazil, Oceana is exploring the “highly prospective” Lapinha zone to follow up high-grade lithium surface samples. Oceana has also commenced fieldwork at the Mt Denison tenement in the Northern Territory.

This week was a positive week for ASX lithium shares amid United States President Joe Biden signing a big spending climate bill. The legislation stipulates critical minerals for EV batteries must be sourced from either North America or a country with a free trade agreement with the US.

The post These 3 ASX mining shares rocketed more than 15% on Friday appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX copper share has exploded 182% this week?
• ‘Clearly under the radar’: Expert reveals hidden gem ASX share he’s holding
• This ASX lithium share is surging 45% today. What’s going on?
• 3 ASX mining shares rocketing higher today on new finds
• Cobre share price zooms 40% higher on new copper discovery

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 most recent peak in the iron ore price was in March at about US$160 per tonne. Since then, the commodity’s value has fallen in a very jagged line to trade just above US$100 per tonne today.

As is usual, the major ASX mining shares have fallen alongside the iron ore price.

Since March, the BHP Group Ltd (ASX: BHP) share price has dropped 17.5%. Rio Tinto Limited (ASX: RIO) shares have fallen 22%. The Fortescue Metals Group Limited (ASX: FMG) share price has lost 1.3%.

Analysts at Trading Economics forecast iron ore to trade at about US$109 by the end of the September 2022 quarter. In a year’s time, the team expects the iron ore price to be about US$97 per tonne.

But Saxo Bank country head of direct sales, David Harvie, isn’t worried. Harvie says China’s demand for iron ore is a long-term trend given the country’s ongoing industrialisation. He reckons it’s only a matter of time before the world’s largest consumer of iron ore begins chewing it up at a strong pace again.

Broker says China will ‘fire up again’

In an interview with The Motley Fool, Harvie said:

When we talk to our China strategists and when we talk to our APEC strategists, I think they make a really valid point. And the point would be it’s not if, but when the largest consumer of iron ore in the world fires up again, being China.

Building cities the size of Brisbane once a month, or whatever they’re doing over there, that ain’t going anywhere either. Our house theory is that it is a demand question, and that should be satisfied by virtue of some of those large economies kicking off again.

ANZ reckons the iron ore price has ‘limited upside’

ANZ commodity strategists Daniel Hynes and Soni Kumari provided their view on the iron ore price in a note released yesterday.

Hynes and Kumari wrote:

We see limited upside in iron ore prices. A stabilisation in the Chinese property market should support sentiment and prices through Q3 and into year end. We expect prices to trend lower in Q4 and into 2023 as the impact of China’s stimulus measures peters out and iron ore demand weakens. We ultimately see prices at the end of 2023 sitting under USD100/t as the market tightness eases.

China’s shadow over commodity markets remains large. That raises the risk that weak economic data will create increasing headwinds for the sector. Those perceived risks don’t completely reflect what we are seeing on the ground.

Stimulus measures announced earlier this year raised hopes that commodity demand would rebound strongly in H2 2022. However, China’s credit impulse is slowing again in response to the restrictions involved in its zero-COVID strategy. This is normally a signal of weaker demand for commodities, but the relationship may not be as straightforward as it was in the past.

What’s next for the big three ASX mining shares?

BHP impressed the market with its full-year FY22 results this week.

BHP reported a 16% increase in its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) to a record US$40,634 million.

The Big Australian will pay a US$1.75 per share final dividend.

Rio Tinto reported its half-year results on 28 July.

Fortescue is the only company out of the big three ASX mining shares yet to report this earnings season. It is scheduled to report its FY22 figures on Monday 29 August.

The post Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker appeared first on The Motley Fool Australia.

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• 1 factor that could drag on Fortescue Future Industries’ green dream
• Are Rio Tinto shares a buy? See what top brokers are saying
• The OZ Minerals share price has barely moved since rocketing on BHP’s takeover bid. So, what now?
• Here’s the BHP dividend forecast through to 2026
• These top ASX dividend shares have been tipped as buys by analysts

Motley Fool contributor Bronwyn Allen has positions in BHP Billiton Limited and Fortescue Metals Group 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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The S&P/ASX 200 Index (ASX: XJO) ended the week with a wobbly performance despite strong gains among energy shares. The index closed Friday’s session 0.02% higher at 7,114.5 points.

That marks a 1.16% gain for the week and the ASX 200 closed four out of five sessions in the green.

The S&P/ASX 200 Energy Index (ASX: XEJ) soared 4% on Friday, likely on the back of rising oil prices and concerns a European energy crisis could increase demand for coal. The Brent crude oil price lifted 3.1% to US$96.59 a barrel overnight while the US Nymex crude oil price rose 2.7% to US$90.50 a barrel.

It wasn’t such a good day on the S&P/ASX 200 Utilities Index (ASX: XUJ). It fell 0.7% as AGL Energy Limited (ASX: AGL) released its earnings and APA Group (ASX: APA) revealed a $32 million impairment.

Speaking of earnings, TPG Telecom Ltd (ASX: TPG) shares slumped on the telco’s results while Cochlear Limited (ASX: COH) shares lifted on the results of the healthcare giant.

Never fear if you missed out on much of today’s earnings excitement; there’s plenty more to come next week.

At the end of Friday’s session, five of the ASX 200’s 11 sectors were in the green.

But which share outperformed all others to be crowned the final daily top performer of this week? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share was none other than Santos Ltd (ASX: STO). It lifted alongside its home sector on Friday. Find out more about the company and what it’s been up to here.

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

ASX-listed company	Share price	Price change
Santos Ltd (ASX: STO)	$7.52	6.36%
Whitehaven Coal Ltd (ASX: WHC)	$7.36	6.2%
Coronado Global Resources Ltd (ASX: CRN)	$1.845	5.13%
Woodside Energy Group Ltd (ASX: WDS)	$33.50	4.17%
New Hope Corporation Ltd (ASX: NHC)	$4.93	4.01%
Sims Ltd (ASX: SGM)	$16.04	3.68%
Newcrest Mining Ltd (ASX: NCM)	$19.35	3.64%
Beach Energy Ltd (ASX: BPT)	$1.695	3.35%
Magellan Financial Group Ltd (ASX: MFG)	$14.43	3.15%
Medibank Private Ltd (ASX: MPL)	$3.65	2.82%

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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• Is the AGL share price in the buy zone following the company’s latest results?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Why is the Whitehaven Coal share price leaping 7% to a record high?
• Why is the Santos share price soaring 6% on Friday?

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 Cochlear Ltd. The Motley Fool Australia has positions in and has recommended APA Group. The Motley Fool Australia has recommended Cochlear Ltd. and TPG Telecom 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 Global Lithium Resources Ltd (ASX: GL1) share price edged higher on Friday.

During the day, the lithium explorer’s shares rose to an intraday high of $1.93 before pulling back before market close. Its shares finished 1.87% higher at $1.905 apiece.

Let’s take a look at what news surrounded the company today.

What did Global Lithium announce?

Investors drove up the Global Lithium share price after the company provided the ASX with a positive update this afternoon. 

In its release, Global Lithium announced it received positive initial metallurgical test work results at the Marble Bar Lithium Project (MBLP).

The site is located around 150km southeast of Port Hedland in the Pilbara region of Western Australia. MBLP is situated close to major roads, with direct links into Port Hedland for shipping bulk commodities, including spodumene concentrate.

Global Lithium has a 100% controlling interest in MBLP.

The company rendered the services of GR Engineering Services Ltd (ASX: GNG) specialists to oversee the test work program.

The results included 5.9% of lithium oxide (Li 2O) spodumene concentrates with a very high recovery rate of 76%.

Global Lithium advised it was currently working towards completion of the current 60,000 metre reverse drilling programme at the MBLP. 

Management plans to conduct further metallurgical test work, focusing on optimising flowsheet options to improve concentrate grade and Li 2O recovery.

Management commentary

Global Lithium managing director Ron Mitchell had this to say:

These initial results from the ongoing metallurgical test work from our MBLP are very promising for the future of this project. The grades and recoveries produced from this test work from diamond core can meet industry expectations and will further support the prospect of MBLP becoming a standalone lithium operation in the years ahead.

Ongoing project development and test work at MBLP will focus on tailoring the flow sheet to match the evolving lithium market and customer expectations.

… Global Lithium notes that the results of this test work are very positive in that they indicate that samples from the Marble Bar Lithium deposit can be used to generate quality spodumene concentrates.

Global Lithium share price snapshot

Over the last 12 months, the Global Lithium share price has rocketed by more than 430%.

Its shares reached an all-time high of $2.79 in April before market volatility saw a strong retracement across the sector.

Based on today’s price, Global Lithium presides a market capitalisation of around $296 million.

The post Global Lithium shares edged higher today amid ‘very promising’ results appeared first on The Motley Fool Australia.

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More reading

• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Global Lithium share price rocketing 13% on Wednesday?
• Why are ASX lithium shares having such a top run on Wednesday?
• 2 ASX lithium shares lifting on new discoveries today
• ‘Great results’: Here’s why the Global Lithium share price is leaping 6% today

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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It’s been a big week for the AGL Energy Limited (ASX: AGL) share price, but unfortunately, not in a good way.

AGL ended the trading week with the release of its full-year earnings report for FY22. Investors haven’t responded kindly through, with the AGL share price closing 3.9% lower on Friday at $7.84 a share.

This latest move means that AGL is now down almost 8% over the past five trading days. But the company has still been a strong performer over 2022 thus far, with a recorded year-to-date gain of 24%.

So as we covered this morning, AGL recorded a 20.8% rise in revenues to $13.22 billion. However, underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 27% to $1.21 billion.

Underlying profit after tax was also down 58% to $225 million. AGL also slashed its final dividend to 10 cents per share. That’s down significantly from last year’s dividend of 28 cents.

But now we know what AGL’s FY22 books look like, could the company be a buy today?

Is the AGL share price in the bargain bin yet?

Well, one ASX broker isn’t going that far. According to reporting in The Australian on Friday, Sarah Xie, analyst at Moody’s, was not enamoured with AGL’s results. Even so, she still said they “nevertheless sit within Moody’s expectations”.

Xie reckons things could be looking up for the energy company, stating she “expects earnings pressures to ease in FY23-24” as the company’s pricing hedges roll off. This means it can receive higher prices for its energy. However, Xie also noted that “AGL’s heightened exposure to ESG and policy risks remain a key challenge”.

Here’s some more of what she said:

The company’s generation earnings reduced due to lower realised wholesale energy prices from its hedge positions, generator outages at its increasingly unpredictable aging thermal assets, insufficient insurance coverage for these outages, as well as increased fuel cost for the gas peakers…

The cost competitiveness of AGL’s thermal generation and its ability to source fuel at contained cost will continue to remain its strengths – which supports cash flows as the company navigates uncertainties regarding the board and management renewal, and the direction of its strategic review.

So this view paints a potentially positive future for AGL. But it’s hardly what AGL investors might call a ringing endorsement, which would certainly have been welcome after Friday’s share price moves.

 At the last AGL share price, the ASX 200 energy company had a market capitalisation of $3 billion, with a trailing dividend yield of 6.41%.

The post Is the AGL share price in the buy zone following the company’s latest results? appeared first on The Motley Fool Australia.

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More reading

• Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Is this ASX 200 share ESG-challenged or a recession-proof buy?
• Everything you need to know about the latest AGL dividend
• AGL share price dips after 58% profit slash

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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Blackmores Ltd (ASX: BKL)

According to a note out of Credit Suisse, its analysts have upgraded this health supplements company’s shares to an outperform rating with a $90.00 price target. Although the broker was not overly impressed with Blackmores’ full year results, it believes that its shares have fallen to an attractive level with more upside potential than downside risk. The Blackmores share price is trading at $71.09 today.

CSL Limited (ASX: CSL)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this biotherapeutics company’s shares to $329.50. Macquarie was pleased with the company’s guidance for FY 2023 and believes it is well-placed to build on this in FY 2024. Particularly given improving trading conditions and the new Rika plasma collection platform. The CSL share price is fetching $294.63 on Friday.

Pro Medicus Limited (ASX: PME)

Analysts at Morgans have retained their add rating and lifted their price target on this health imaging technology company’s shares to $58.18. This follows the release of a strong result for FY 2022 earlier this week. Morgans was particularly pleased with the company’s margins, which were well ahead of expectations. It feels this highlights the operating leverage of the business. The broker also notes that the company’s outlook remains as strong as ever, highlighted by an increasing number of requests for tender proposals. The Pro Medicus share price is trading at $54.00 today.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Buy this ASX 200 company as its costs are actually falling: Firetrail
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• Why Blackmores, Codan, Lake Resources, and Xero shares are falling today
• Why CSL, IPH, Renascor, and Treasury Wine shares are pushing higher

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 CSL Ltd. and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Blackmores 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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In late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small decline. At the time of writing, the benchmark index is down slightly to 7,112.2 points.

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

AGL Energy Limited (ASX: AGL)

The AGL share price is down 4% to $7.81. Investors have been selling this energy company’s shares after the release of disappointing full year results for FY 2022. AGL reported an underlying profit after tax of $225 million, which was down 58% year over year.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel share price is down over 5% to $18.14. This follows the release of the medical device company’s guidance for FY 2023. The company revealed that it expects to report revenue of NZ$670 million and net profit after tax of NZ$85 million to NZ$95 million. This will be a big decline on the prior corresponding period which saw revenues of NZ$900 million thanks to COVID tailwinds.

Inghams Group Ltd (ASX: ING)

The Inghams share price is down 9% to $2.69. This morning this poultry company posted a 57.9% decline in net profit after tax to $35.1 million for FY 2022. Management blamed this on higher feed costs and supply chain disruptions. Inghams was forced to slash its dividend by 58% to 7 cents per share due to its lower profits.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is down over 13% to $5.74. This follows the release of the telco giant’s half year results. TPG reported an adjusted net profit after tax of $331 million, which was up 3.8% over the prior corresponding period. According to a note out of Goldman Sachs, TPG’s profits missed by 15%. It also highlights “disappointing opex and Mobile ARPU growth.”

The post Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today appeared first on The Motley Fool Australia.

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• Everything you need to know about the latest AGL dividend
• Inghams share price tumbles 8% as FY22 dividends slashed
• AGL share price dips after 58% profit slash
• Fisher & Paykel share price slides hard following FY23 guidance update
• TPG share price tumbles 9% on first half results

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 recommended TPG Telecom 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 Commonwealth Bank of Australia (ASX: CBA) share price is trading 1.4% lower in early afternoon trading. That leaves shares in Australia’s biggest bank down 1.2% since the closing bell last Friday.

The CBA share price isn’t the only one in the red today.

While the S&P/ASX 200 Index (ASX: XJO) is up 0.01%, the other big four banks are all posting losses as well. That’s likely partly driven by losses posted by the top US banks yesterday (overnight Aussie time).

Unless CommBank sees a big late-day rally, this will mark its second day of losses for the week, with shares gaining on Monday, Tuesday, and Thursday.

Why did the CBA share price fall on Wednesday?

The CBA share price closed down 1.8% on Wednesday, the day the bank’s shares traded ex-dividend.

That means anyone buying CommBank shares commencing market open on Wednesday was no longer eligible for the $2.10 fully franked final dividend the bank declared. Investors holding shares before Wednesday can expect that payment to land in their accounts on 29 September.

Generally, a stock will fall on the day it trades ex-dividend, as any new investors won’t receive that payment. While its common for stocks to fall by a similar amount to their dividend payout, the CBA share price closed only $1.84 lower on Wednesday.

CommBank’s full FY22 dividend works out to $3.85 per share, reflecting a trailing yield of 3.9% at the current price.

Also on Wednesday…

In other news on Wednesday, unlikely to have had a material impact on the CBA share price, CEO Matt Comyn announced a change to the bank’s executive leadership team.

Gavin Munroe, currently global chief information officer of wealth and personal banking for HSBC, will take over the role of CBA’s group executive, technology and group chief information officer from Pascal Boillat.

Boillat, according to the release, is heading back to the Northern Hemisphere to be closer to his family. Munroe will assume his role commencing 14 November.

Commenting on the executive leadership change, Comyn said:

Gavin is a seasoned financial services technology leader with deep experience driving digital transformations.

Gavin has a proven track record of delivering technology solutions at a global scale, managing and building strong teams, and leading large programs aligned to business strategies and goals.

The post What’s moving the CBA share price this week? appeared first on The Motley Fool Australia.

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• Why is the CBA share price sliding today?
• Is the CBA share price overvalued compared to other ASX 200 banks?
• The CBA share price has been making big news this week. What can ASX 200 investors expect next?
• How big is the CBA dividend yield right now?
• What does CommBank’s latest update mean for NAB shares?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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) is having a jittery end to the trading week as it currently stands. At the time of writing, the ASX 200 has gained just 0.02% and now stands at 7,114 points, having also spent time in the red on Friday.

But rather than worry too much about that, let’s now dig deeper into the ASX 200 shares that are presently topping the 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 ASX 200 lithium stock Pilbara Mienrals. This Friday has seen a hefty 13.55 million Pilbara shares so far take flight. There hasn’t been any news out of the company itself today.

However, as my Fool colleague Aaron pointed out this morning, the lithium producer has had a lot of attention this week. No doubt Pilbara’s bouncy share price movements today have also influenced volumes, although the company is currently flat for the day at $3.06 a share.

Lake Resources N.L. (ASX: LKE)

Another ASX 200 lithium share in Lake Resources is next up today. So far this Friday, Lake has had a sizeable 20.22 million shares swap hands. Again, we haven’t had any price-sensitive news out from the company.

So this volume looks to have been sparked by the notable volatility we have seen in the Lake Resources share price itself today. The company is currently up a decent 2.1% at $1.215 a share. But Lake rocketed as high as $1.285 a share (up more than 7%) this morning before settling down to the current level.

Telstra Corporation Ltd (ASX: TLS)

Our third, final and most traded ASX 200 share today is none other than blue-chip telco Telstra. This Friday has seen a chunky 23.94 million Telstra shares call up a new owner thus far. This could be a result of the Telstra share price adding another 0.5% to $4.12 a share today – a six-month high for the telco.

Perhaps some investors are enjoying some schadenfreude with the company too, given the disappointing reaction from the market to rival TPG Telecom Ltd (ASX: TPG)’s earnings this morning.

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

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More reading

• Could Porsche’s new test run threaten the outlook for ASX lithium shares?
• Why did the Lake Resources share price pop and then stop on Friday?
• Is this ASX 200 share ESG-challenged or a recession-proof buy?
• TPG share price tumbles 9% on first half results
• 2 ASX 200 shares set to soar if we manage to avoid a recession: experts

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 Australia has recommended TPG Telecom 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record the smallest of gains. At the time of writing, the benchmark index is up slightly to 7,114 points.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is up 10% to $1.66. Investors have been buying this footwear retailer’s shares following the release of its full year results. Although Accent posted a sizeable 59.2% decline in net profit after tax to $31.5 million, this was largely expected. As a result, investors appear to be focusing on its very strong start to FY 2023 instead.

Cochlear Limited (ASX: COH)

The Cochlear share price is up 2.5% to $219.75. This morning this hearing solutions company released its FY 2022 results and revealed record sales revenue of $1.6 billion and an 18% increase in underlying profit to $277 million. Looking ahead, management expects its underlying profit to grow to between $290 million and $305 million in FY 2023.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is up 4% to $19.39. This follows the release of FY 2022 results that were ahead of the market’s expectations. The gold miner delivered a full year net profit after tax of US$872 million. While this was down 25% year over year, it was ahead of consensus estimate of US$843.5 million.

Santos Ltd (ASX: STO)

The Santos share price is up 6% to $7.48. Investors have been buying this energy producer’s shares after oil prices charged higher overnight. Traders were buying oil after data showed that US crude stockpiles fell significantly more than expected last week. The S&P/ASX 200 Energy index is up almost 4% today.

The post Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today appeared first on The Motley Fool Australia.

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More reading

• Why is the Santos share price soaring 6% on Friday?
• Cochlear share price takes off despite guidance miss
• Accent share price jumps despite 59% profit drop
• Everything you need to know about the latest Newcrest dividend
• Newcrest share price lifts despite profit falling 25%

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 Cochlear Ltd. The Motley Fool Australia has recommended Accent Group and Cochlear 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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