It’s been a rather wild day on the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. The ASX 200 spent most of the morning in green territory today. But it has also whipsawed considerably and is now back in red territory. But it’s been a different story for ASX utilities shares.

ASX utilities shares are doing exceptionally well today. Take APA Group (ASX: APA). APA shares are currently up an impressive 3.55% so far at $11.09 each. Or AGL Energy Limited (ASX: AGL). AGL has recorded a less-impressive but still significant 0.61% gain to $8.24 a share.

So why is this sector outperforming the rest of the ASX 200 so convincingly this Wednesday?

Well, it’s not entirely clear. But there has been a meaningful development out today that could be helping these ASX utilities shares do so well.

ASX utilities shares beat the market on Wednesday

According to reporting in the Australian Financial Review (AFR) today, the Australian Energy Market Operator has begun the process of lifting the suspension of the National Electricity Market (NEM). The market operator took control of the NEM last week after the risk of rolling blackouts along the east coast spiked due to pricing caps in the market.

This involves the market operator manually directing power generation and managing supply and demand. It was the first time this has happened in the history of the NEM.

The market operator taking control of the NEM might have been good news for consumers who might have otherwise faced power outages. But it wasn’t so good for energy utilities shares like APA and AGL, who suddenly had to take directives from the market operator.

Thus, the news that the NEM might be back to normal by as early as this Friday is arguably a positive development for these utilities shares. Thus, it could well be this news that is helping the APA and AGL share prices outperform the ASX 200 so convincingly today.

The post ASX utilities shares electrifying the market as suspension begins to unwind appeared first on The Motley Fool Australia.

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More reading

• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment
• Is APA evolving into an ASX-listed hydrogen share on this $260m news?
• 2 ASX 200 infrastructure shares ‘ripe for takeout’: expert
• Own AGL shares? Here’s what to know about the company’s latest green hydrogen push  
• Leading brokers name 3 ASX shares to buy today

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 positions in and has recommended APA Group. 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 fair to say that ASX 200 energy shares have been at the centre of ASX attention in 2022. With inflation concerns and rising oil prices, the Santos Ltd (ASX: STO) share price, along with many other ASX energy shares, has exploded. Santos was going for $6.61 a share at the start of the year.

Today, it’s sitting at $7.54, up more than 14% year to date. It was only earlier this month that Santos hit a new 52-week high of $8.86 too.

But, as we know, rising share prices also have the unpleasant side effect of lowering a company’s trailing dividend yield. So after these impressive gains over the year so far, where does the Santos dividend stand today?

Well, Santos’ last dividend payment was the final dividend that investors received back on 24 March. This was a payment of 11.1 cents per share, franked at 70%. Before that, Santos paid out its interim dividend of 7.69 cents per share back in September last year. That dividend was fully franked. These two dividend payments represented significant growth for the company.

How does the Santos dividend stack up?

Before 2022’s final dividend, the company paid out a final dividend for 2021 that came to 6.32 cents per share, fully franked. The company’s previous interim dividend was also much lower than its most recent one. That was the 2.91 cents per share payment from 2020.

But circling back to Santos’ most recent dividend payments, these two dividends give the company a trailing yield of 2.6% on the current share price.

So is this an attractive dividend yield? Well, that’s in the eye of the investor, to a certain extent. But it’s worth noting that Santos’ trailing dividend yield is certainly on the low side when it comes to some other ASX energy shares. Santos’ energy peer Woodside Energy Group Ltd (ASX: WDS) currently has a trailing dividend yield of 5.94%. New Hope Corporation Limited (ASX: NHC)’s dividend yield is now over 7%.

But Santos is still topping Beach Energy Ltd (ASX: BPT) and its current yield of 1.22%. So it could be worse.

A caveat to finish on though. Santos’ last dividend was paid out in March, just after global oil prices really started taking off. In the months since, the company has likely been benefitting enormously from the rise in global oil prices we have seen ever since. Thus, it’s very possible that Santos’ next dividends will be significantly higher than the most recent payments it has doled out.

But we shall have to wait and see.

In the meantime, the current Santos share price gives this ASX 200 energy share a market capitalisation of $25.26 billion.

The post How attractive is the Santos dividend right now? appeared first on The Motley Fool Australia.

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• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment
• Has 2022 proven Woolworths is a defensive ASX share?
• ASX 200 midday update: St Barbara and Zip drop to multi-year lows
• 3 reasons why I think the Soul Pattinson share price is an excellent buy right now
• Why is the Fisher & Paykel share price heading south today?

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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Breville Group Ltd (ASX: BRG)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating but cut their price target on this appliance manufacturer’s shares to $25.00. While the broker has reduced its earnings estimates to reflect a challenging macroeconomic environment and potential impacts to demand, it sees enough value in its shares to maintain its positive view on the company. The Breville share price is trading at $17.43 today.

REA Group Limited (ASX: REA)

A note out of Citi reveals that its analysts have retained their buy rating and $153.50 price target on this property listings company’s shares. This follows news that New South Wales is making changes to stamp duty rules. Citi sees the changes as a positive and suspects that other states could follow its lead. The REA share price is fetching $101.01 this afternoon.

Readytech Holdings Ltd (ASX: RDY)

Analysts at Goldman Sachs have reinstated coverage on this enterprise software company’s shares with a buy rating and $4.60 price target. Goldman notes that Readytech has defensive qualities, which could be important if Australia falls into a recession. This is because it serves defensive end markets (e.g. higher education, local government) and has high recurring revenue. In addition, with its shares down materially this year, Goldman sees now as an opportune time to invest. The Readytech share price is trading at $2.79 on Wednesday.

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

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More reading

• Why Ampol, Downer, Fletcher Building, and REA shares are pushing higher
• Goldman Sachs names 2 mid cap ASX shares to buy
• 2 powerhouse ASX shares going for dirt cheap right now: expert
• Top brokers name 3 ASX shares to buy next week
• Down 20% in a month, is the Breville share price a bargain buy or a falling knife?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Readytech Holdings Ltd. The Motley Fool Australia has recommended REA Group Limited and Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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

Cardano (CRYPTO: ADA) has consistently ranked as one of the Top 10 cryptocurrencies by market capitalization, yet it has rarely been sexy or splashy. Some have even called it “really boring.” Even during the peak of the crypto craze, Cardano reached a high of just over $3. Time after time, it seems like Cardano has been late to the party whenever a rival blockchain such as Ethereum (CRYPTO: ETH) has introduced a new innovation. 

But Cardano could finally be on the cusp of delivering on its early promise and rewarding investors who take a long-term view. The big catalyst could be a tech upgrade (known as Hydra) coming in 3Q 2022 that will make the Cardano blockchain faster, more interoperable and more secure.  This upgrade will also open up more opportunities for developers to build on top of the Cardano blockchain with new decentralized applications known as dApps.

What the new upgrade means for Cardano

Cardano refers to the Hydra update as a “layer 2 scalability solution,” and what that means in layperson’s terms is that Cardano will be able to add more users, more developers and more applications in the future without any loss of speed or performance. As Cardano founder Charles Hoskinson — who also helped co-found Ethereum — has pointed out, the new update is all about scalability and improving performance for the more than 3 million unique wallets holding ADA. If everything goes according to plan, says Hoskinson, Cardano will theoretically be able to process more than 1 million transactions per second.  By way of comparison, the fastest blockchain today – Solana (CRYPTO: SOL) – can handle about 65,000 to 70,000 transactions per second.

This increased capacity could open a world of new possibilities for Cardano. For example, while blockchains such as Ethereum and Solana get all the attention when it comes to non-fungible tokens (NFTs), Cardano now seems to be making a strong play to get in on more of the action. According to Hoskinson, NFTs now account for approximately 40% of all new activity happening on the Cardano blockchain. The latest high-profile launch is a new, much-anticipated NFT collection from comedian and actor Martin Lawrence.

Slow and steady wins the race

To be sure, Cardano has absorbed its share of criticism for a pace of development that has seemed too slow for some in the tech space who prefer to break things first, ask questions later. In part, this is due to the way that Cardano makes updates to its blockchain. At the heart of the Cardano approach is an evidence-based software development process that is similar to an academic, peer-reviewed process. In fact, Cardano prides itself on having the first blockchain protocol based on peer-reviewed research. This approach makes the development process slower, but also ensures that new software upgrades actually work as planned.

In the end, slow and steady might win the race. While Cardano has seemingly lagged behind in some developments, it seems to be building momentum now. For example, Cardano adopted smart contract functionality last September as part of its Alonzo upgrade.

Staying level-headed and grounded at a time when others are not

Cardano’s Charles Hoskinson has seen it all, having been through a handful of bear markets in the crypto space over the past decade. “Bear markets are actually quite comfortable,” he recently said in an interview, because they let you focus on getting the fundamentals right and building for the future.

Those are comforting words to hear in a market downturn. Once its new tech upgrade is complete, Cardano might just end up being one of the safest cryptos to hold in a bear market.      

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

The post Why Cardano might be one of the safest cryptos to hold in a bear market appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• What’s going on with the Westpac share price this week?
• Why is the Novonix share price plunging 6% on Wednesday?
• Down 28% this year, is the Wesfarmers share price at a turning point?
• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment

Fool contributor Dominic Basulto holds ETH and ADA. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Ethereum and Solana. The Motley Fool Australia owns and has recommended Ethereum and Solana. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. 

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

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The Westpac Banking Corp (ASX: WBC) share price is trailing that of its competitors this week, as ASX bank stocks rebound at more than twice the rate of the benchmark S&P/ASX 200 Index (ASX: XJO).

Since Friday’s closing bell, the Westpac share price is up 2.2%. National Australia Bank Ltd (ASX: NAB) shares are up 4.5%. Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares have gained 3.7% and Commonwealth Bank of Australia (ASX: CBA) shares are up 2.8%.

This compares to an 0.8% boost for the ASX 200.

What’s the latest news from Westpac?

Westpac hasn’t released any price-sensitive news to the ASX since 26 May when it announced a deal with BT Funds Management Limited.

They plan to merge BT’s personal and corporate superannuation funds with Mercer Super Trust. Westpac also plans to sell its Advance Asset Management business to Mercer Australia.

However, this week Westpac has announced some female-friendly changes to its lending criteria.

In a press release, Westpac says it wants to “help women into home ownership” and make it easier for childcare operators to expand.

Westpac noted these changes were “supporting Government plans to grow the childcare sector”.

During the election campaign, Labor described improving childcare as a “fundamental economic reform”. The government plans to introduce a range of measures that it says will reduce childcare costs for 96% of families.

Labor argues that increasing women’s job participation rate will enable households to increase their incomes while also boosting the economy.

Home loans made easier for women and health workers

Westpac has a lenders’ mortgage insurance (LMI) waiver program that makes it easier for male and female borrowers in the medical profession to get a home loan.

Under the program, Westpac will issue loans at a 90% loan-to-value (LVR) ratio, instead of the usual 80%, without asking the borrower to pay LMI.

Now, the bank is adding eight allied health professions that “have a strong female workforce representation” to the waiver program. The professions are osteopaths, podiatrists, audiologists, occupational therapists, psychologists, speech pathologists, radiographers, and sonographers.

What is LMI?

LMI is a one-off cost paid by borrowers when they have less than a 20% deposit. The insurance protects the bank if the borrower can’t make their repayments.

LMI on a typical family home purchased for $650,000 would cost the borrower about $8,000, according to Westpac.

Applicants still have to meet other criteria, such as minimum income thresholds.

Government and corporate priorities align, says Westpac

Westpac chief executive of consumer and business banking Chris de Bruin said:

… saving the traditional 20 per cent of the value of a property purchase price can take prospective buyers years to achieve. We have recently expanded our LMI Waiver to include additional health professions … where women make-up most of the workforce. This will enable more women to purchase their home sooner with a reduced deposit and without the expense of mortgage insurance.

Westpac is also introducing flexible lending criteria and priority servicing for childcare centre operators. This includes reduced equity requirements and cheaper lending rates and establishment fees.

De Bruin said:

The New South Wales Government recently announced a $5 billion childcare growth plan and other Governments are pursuing similar policy objectives.

When Government policy and corporate sector commitment are aligned, change can be driven quickly. We know that access to finance is a key barrier to expansion, so we’re making it easier for childcare businesses to get the funding they need to grow.

Westpac also says it will introduce a training program to encourage more women into home and business lending roles. Up to 100 new jobs will be made available to internal and external applicants.

Westpac share price snapshot

In 2022 so far, Westpac shares have tumbled by 9.5%. This compares to a fall of 8.2% for NAB, 12.15% for CBA and 21.7% for ANZ.

As my Foolish colleague Sebastian reported yesterday, Westpac offers a dividend yield of approximately 6.2%.

The post What’s going on with the Westpac share price this week? appeared first on The Motley Fool Australia.

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More reading

• Worried about a US recession? Here’s what the ASX 200 banks are forecasting
• How does the Macquarie dividend stack up against the ASX big four banks?
• Why GrainCorp, PointsBet, Weebit Nano, and Westpac shares are racing higher
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• Will Westpac shares really pay a 9.6% dividend yield next year?

Motley Fool contributor Bronwyn Allen has positions in Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, and Westpac Banking Corporation. 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 Westpac Banking Corporation. 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 sliding lower on Wednesday despite no news from the battery technology company.

However, the broader S&P/ASX 200 Information Technology Index (ASX: XIJ) is also suffering, sliding 1.9% so far today.

At the time of writing, the Novonix share price is $2.29, 6.15% lower than its previous close.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is recording a 0.35% slump and the All Ordinaries Index (ASX: XAO) has slipped 0.36%.

Let’s take a closer look at what might be going on with the ASX 200 battery materials and tech stock today.

Novonix share price plummeting 6%

The Novonix share price is dumping yesterday’s 4% gain, sinking more than 6% lower on Wednesday.

That leaves the stock 8% lower than it was at the end of last week and a whopping 44% lower than it ended May.

Interestingly, there’s been no price-sensitive news out of the ASX 200 share since late last month when it announced a notable change to its board.

Also interesting is the performance of ASX technology stocks today. The ASX 200 tech sector and S&P/ASX All Technology Index (ASX: XTX) are both tumbling despite a strong performance from the tech-heavy Nasdaq Composite overnight.

The US-based index gained 2.51% in Tuesday’s session overseas and the tech sector generally performs relatively in line with its performance.

The Novonix share price is joined by that of its ASX 200 peer Life360 Inc (ASX: 360). They’re both down around 6% right now.

Meanwhile, shares in TechnologyOne Ltd (ASX: TNE), Computershare Limited (ASX: CPU), and EML Payments Ltd (ASX: EML) have each fallen around 4%.

It’s not all doom and gloom, however. ASX 200 tech share Iress Ltd (ASX: IRE) is recording a 3.45% gain today.

Today’s dip is just the latest faced by the Novonix share price this year.

It’s currently down 75% year to date. Though, it has gained 8% since this time last year.

The post Why is the Novonix share price plunging 6% on Wednesday? appeared first on The Motley Fool Australia.

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• Why is the Novonix share price charging 7% higher today?
• These were the worst performing ASX 200 shares last week
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• The Novonix share price is the worst of the ASX 200 losers today. What’s going on?
• ASX 200 midday update: ResMed’s US$1bn acquisition, tech shares continue to sink

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended TechnologyOne 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 Wesfarmers Ltd (ASX: WES) share price has tumbled over the last month of trade, extending losses to more than 28% this year to date.

After a series of downward moves, the Wesfarmers share price fell to its 52-week closing low of $41.16 on 17 June, as illustrated on the chart below.

However, it’s since bounced from that level, currently trading at $42.32 at the time of writing.

Is Wesfarmers reversing course?

The share is still bottom-heavy and has some way to go before clawing back to its May 2022 levels.

Despite this, it still has five buy calls and five hold calls from brokers, according to Bloomberg data.

Balancing the picture is that six brokers also say to sell Wesfarmers shares.

In a note today, analyst Mohsen Crofts, from Bloomberg Intelligence, wrote that Bunnings and Kmart are Wesfarmers’ key assets in its long-term growth.

Crofts wrote:

Wesfarmers-owned hardware chain Bunnings’ brand and operational strength could increase its revenue and market share from 2023 once Australian housing stabilises with interest rates.

Earnings performance at Kmart, Wesfarmers’ discount department store brand, should improve this year as Covid-19 related costs and restrictions ease.

Meanwhile, analysts at JP Morgan echoed the sentiment in a May note. The broker said, “Wesfarmers is a beneficiary of the retail and housing cycle, with three industry leading retailers.”

“Following the downsizing of Target, acquisitions of Catch and Kidman, as well as a de-rating post capital return, the share price outlook is favourable.”

Wesfarmers share price snapshot

In the last 12 months, the Wesfarmers share price has slipped more than 28% into the red, dropping almost 10% in the last month alone.

The conglomerate has a market capitalisation of around $48 billion based on the current share price.

The post Down 28% this year, is the Wesfarmers share price at a turning point? appeared first on The Motley Fool Australia.

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• Here are 2 ASX dividend shares that analysts rate as buys this week
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• Morgans tips 40% upside for the Wesfarmers share price
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• 2 ASX companies busted for sneaky facial recognition on customers

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers 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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Inflation is an economic challenge that many S&P/ASX 200 Index (ASX: XJO) shares — and households — are facing.

We’ve seen rises in commodity prices, transportation costs, supply chain challenges, faster-growing wages, and so on. Some businesses aren’t able to pass on the higher costs, resulting in profit margins being hurt.

Investment group Blackstone has indicated that it’s going to avoid businesses that aren’t able to pass on rising costs in the form of higher prices.

According to reporting by The Australian, Blackstone’s senior managing director Michael Blickstead said that inflation is the group’s main concern. Within its own investment portfolio, and potential investments, Blackstone is looking at what it can do to mitigate the issues.

Some ASX 200 shares may not be able to pass on the higher costs and they will simply have to deal with lower profitability. That’s tough luck for them, which may explain some of the declines we’ve seen in the last few months, along with interest rate rises.

But, there are a few names that are able to pass on increases to their customers or clients, such as the three below, which can be called ‘price makers’. That’s where the companies get to decide their prices.

National Australia Bank Ltd (ASX: NAB)

NAB is one of the big four ASX banks along with Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), and Australia and New Zealand Banking Group Ltd (ASX: ANZ).

It’s no secret the Reserve Bank of Australia (RBA) is increasing interest rates with more rises expected to follow. The RBA’s latest move was a 50 basis point increase.

If NAB (and the ASX 200 big bank shares) didn’t increase the interest rates charged on loans then it would hurt the bank’s net interest margin (NIM). The NIM is an important measure of bank profitability.

But, NAB did pass on the 50 basis point increase to borrowers. In fact, it passed on the whole rate rise very soon after the RBA’s announcement.

Brokers like Morgans and Morgan Stanley think the bank NIMs will rise as interest rates increase. However, there’s also a question of how much the rate increases hurt loan books and increase arrears.

Xero Limited (ASX: XRO)

Xero is one of the largest ASX tech shares, but it’s now a fair bit smaller this year after a plunge of the Xero share price of around 50%.

While Xero doesn’t focus on commodities or supply chains, it still has a cost base.

The ASX 200 share has recently announced that it’s going to increase its subscription prices in some of its important markets including the UK, Australia, and New Zealand, with some subscriber levels seeing high single-digit price increases.

APA Group (ASX: APA)

APA is one of the largest infrastructure businesses in Australia. It owns a national network of gas pipelines that transport half of Australia’s natural gas usage.

It also owns investments in renewable energy generation, gas storage, and gas power generation.

The ASX 200 share says that it’s “favourably exposed to rising inflation with almost 100% of contracted revenues linked to inflation indices”.

The post ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment appeared first on The Motley Fool Australia.

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

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The Medibank Private Ltd (ASX: MPL) share price is edging slightly higher today following the company’s latest cash give back.

At the time of writing, the private health insurance giant’s shares are fetching at $3.18, up 0.32%.

Medibank returns COVID-19 savings

Investors are sending the Medibank shares into positive territory despite the S&P/ASX 200 Index (ASX: XJO) reversing its gains today.

For context, the ASX 200 Index is 0.07% lower to 6,519.2 points.

In its release, Medibank advised it is returning an additional $205 million in COVID-19 permanent net claims savings to customers. This brings the total amount of support provided by the business since the start of the pandemic to $682 million.

The cash back funds will be deposited into the customer’s bank accounts at a confirmed date in September this year.

The financial package includes up to $145 for extras only policies and up to $620 for hospital and extras policies.

In addition, Medibank and Ahm will also defer the 2022 premium increase for a further month to 1 November 2022.

The premium increase deferral and cash give back are being funded from additional COVID-19 permanent net claims savings.

Medibank CEO, David Koczkar commented:

We said right from the start that we would not profit from COVID-19. We’ve stuck by that promise with our broader package now reaching a record $682 million.

The cash give back will be welcomed by our customers as they grapple with pressures on household budgets due to rising inflation, interest rates, fuel prices and home energy costs.

We’ve also put premium increases on hold for another month, taking the premium increase deferral to 7 months until 1 November 2022.

Our focus remains on delivering value for our customers and supporting them through the ongoing impacts of COVID-19.

Medibank share price summary

Over the last 12 months, the Medibank share price has travelled around 1% higher despite the recent market volatility.

In comparison, the benchmark ASX 200 index has fallen by 11% over the same time frame.

Based on today’s price, Medibank presides a market capitalisation of roughly $8.54 billion.

The post Medibank share price climbs amid ‘cash give back’ appeared first on The Motley Fool Australia.

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• The Medibank share price has struggled in 2022. Could the company be a takeover target?

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and dropped into the red. At the time of writing, the benchmark index is down 0.3% to 6,506 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Ampol Ltd (ASX: ALD)

The Ampol share price is up 5% to $34.77. This appears to have been driven by a broker note out of Morgan Stanley. According to the note, the broker has retained its overweight rating and lifted its price target to $39.00. It is bullish due to improving refining margins and increasing fuel volumes.

Downer EDI Limited (ASX: DOW)

The Downer share price is up 2% to $5.07. Investors have been buying this engineering company’s shares after it announced two major contract wins. Downer has been awarded two road maintenance contracts by Auckland Transport, valued at approximately $800 million over a maximum term of 10 years. Management notes that these contracts expand Downer’s strong working relationship with Auckland Transport.

Fletcher Building Limited (ASX: FBU)

The Fletcher Building share price is up 5% to $4.68. The catalyst for this was the release of the building products company’s investor day update. That update reveals that management has reiterated its earnings before interest and tax guidance for FY 2022. It expects EBIT before significant items to come in at ~NZ$750 million.

REA Group Limited (ASX: REA)

The REA share price is up 2% to $101.15. This morning analysts at Citi reiterated their buy rating and $153.50 price target on this property company’s shares. This implies potential upside of ~50% for investors over the next 12 months. Citi sees NSW stamp duty changes as a positive for REA.

The post Why Ampol, Downer, Fletcher Building, and REA shares are pushing higher appeared first on The Motley Fool Australia.

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• ASX 200 midday update: St Barbara and Zip drop to multi-year lows
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group 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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