There are a lot of shares to choose from on the Australian share market. To narrow things down, listed below are two ASX shares that are highly rated by analysts.

Here’s what they are saying about them:

Lifestyle Communities Limited (ASX: LIC)

The first ASX share to look at is Lifestyle Communities. It owns and manages affordable independent living residential land lease communities. At the last count, Lifestyle Communities had 26 residential land lease communities under contract, in planning, in development or under management.

Goldman Sachs is a fan of the company and believes it is well-placed to benefit from Australia’s ageing population and the structural growth in land lease living.

It explained:

We believe LIC is well positioned to benefit from shifting demographic trends, as its business helps address some critical emerging social issues. Its core business is to provide affordable housing to an ageing population, addressing a key social issue that is becoming more prevalent as the proportion of over 50’s increases.

We expect as this population cohort continues to grow, this should deliver structural growth for the industry; we expect demand to far outpace supply at current build rates.

Goldman has a conviction buy rating and $24.65 price target on its shares.

NEXTDC Ltd (ASX: NXT)

Another ASX share that could be a buy in July is NextDC.

It is a leading data centre operator which has been growing at a consistently strong rate for a number of years. This has been driven by the ongoing structural shift to the cloud, which is underpinning significant demand for data centre capacity.

Morgans is very positive on NextDC and appears confident its strong growth will continue for a long time to come.

The broker said:

We retain our Add recommendation and highlight that NXT remains our preferred pick given substantial structural growth, quality management, significant barrier to entry and, in our view, improving competitive advantage with regional/edge sites.

We see a clear pathway for long-term growth, substantially higher EBITDA and material free cash flow, over the medium term.

Morgans has an add rating rating and $13.01 price target on NextDC’s shares.

The post Why analysts say investors should buy these top ASX shares appeared first on The Motley Fool Australia.

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More reading

• Here are 2 fantastic ASX tech shares that analysts rate as buys
• The Lifestyle Communities share price is down 50% in 8 months – time to buy?
• NextDC share price tipped to rise 30%: Broker says high energy prices an ‘opportunity’
• Experts name 3 ASX growth shares to buy with enormous upside potential
• 2 ASX growth shares to buy this month: experts

Motley Fool contributor James Mickleboro has positions in NEXTDC 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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It was an uneventful day on Australian markets with the All Ordinaries Index (ASX: XAO) pushing 1.14% higher to close at 6,796.9.

Meanwhile, tech shares closed the session ahead with the S&P/ASX All Technology Index (ASX: XTX) spiking 1.7% into the green. Yet, these were paltry gains compared to one All Ords share today.

The Silex Systems Ltd (ASX: SLX) share price finished trading 21% higher, well ahead of its peers. It climbed steadily throughout the session and closed at $2.65, its highest mark in eight years. Here’s a graph of the technology company’s share price performance:

What’s up with this All Ords share?

The Silex share price likely caught a bid today following a company announcement made before the open.

Silex has executed a non-binding Letter of Intent (LOI) between Global Laser Enrichment and Duke Energy Carolinas, LLC and Duke Energy Progress, LLC.

The LOI is for the purpose of developing areas of mutual interest and cooperation in the “nuclear fuel supply chain”.

It hones in on several areas of “potential cooperation”, according to Silex.

This includes pushing Global Laser Enrichment’s deployment of the “Silex laser enrichment technology in the United States and the potential acceleration of commercialisation timelines”, the company said.

Global Laser is the exclusive licensee of the Silex laser technology for uranium enrichment. The venture is 51%/49% jointly controlled between Silex and Cameco Corporation.

Speaking on the announcement, Silex CEO Michael Goldsworthy said the LOI was “another positive step” in advancing the company’s US strategy. He added:

As the U.S. Government ramps up initiatives to rebuild its domestic nuclear fuel supply chain and lessen its dependence on nuclear fuel imports, particularly from Russia, we anticipate GLE’s engagement with U.S. nuclear power generators will help support the commercialisation
of the SILEX technology.

In the last 12 months, this All Ords share has surged more than 170% into the green, gaining 99% this year to date.

The post Guess which ASX All Ords share soared 21% to an 8-year high on Monday appeared first on The Motley Fool Australia.

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More reading

• 5 best ASX All Ordinaries shares in June
• Amid the carnage, this ASX tech share just hit an 8-year high

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 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 most investors would be painfully aware of, June was not a pleasing month for ASX shares or for investors. Over the month just passed, the S&P/ASX 200 Index (ASX: XJO) fell by a nasty 8.9%. But the Core Lithium Ltd (ASX: CXO ) share price had a far worse time of it. 

Core Lithium shares were priced at $1.40 going into June. But coming out of June last week, this ASX 200 lithium stock was asking just 96 cents a share. That means the Core Lithium share price fell by a whopping 31.43% over the month. Ouch.

But it wasn’t just Core Lithium shares feeling the pain over June. We saw similarly large falls amongst many of Core Lithium’s peers, including Pilbara Minerals Ltd (ASX: PLS), Liontown Resources Limited (ASX: LTR) and Lake Resources N.L. (ASX: LKE).

So what on earth went wrong for this formerly high-flying company, Core Lithium?

Why did the Core Lithium share price plunge by 31% in June?

Well, we didn’t hear much out of the company itself over June. However, the entire ASX lithium space obviously did come under a lot of pressure last month.

It arguably started with the bearish note out from ASX broker Goldman Sachs at the start of June. As was well covered at the time, Goldman outlined a view describing the bull market in lithium and other battery metals as “over for now”. It predicted that lithium prices would drop to US$16,400 per tonne by 2023, down from the US$70,000-plus levels we see today.

In addition, June also saw share markets around the world take a tumble, which includes the ASX 200’s 8.9% drop. Fears over inflation, rising interest rates and a possible recession seem to be responsible for this loss of investor confidence.

In such an environment, lithium shares were always going to struggle, as investors typically view this space as amongst the riskier end of the ASX 200. 

So it’s likely that these two factors were responsible for the miserly performance of the Core Lithium share price over June. No doubt investors will be hoping for a better July. 

The post Why did the Core Lithium share price plunge 31% in June? appeared first on The Motley Fool Australia.

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More reading

• Down 30% in a month, what’s been driving the Core Lithium share price lower?
• Why have ASX lithium shares had such a lousy month in June?
• Here are the top 10 ASX shares today
• Guess which sector is delivering the biggest gain across the ASX 200 today
• Why is the Core Lithium share price racing 13% higher?

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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The Telstra Corporation Ltd (ASX: TLS) share price has been less volatile than the S&P/ASX 200 Index (ASX: XJO). Australia’s telco has also delivered outperformance compared to the index.

In June 2022, Telstra shares fell by 0.8% while the ASX 200 dropped by 8.9%. An outperformance of around 8% in just one month by a blue chip is quite sizeable.

The performance of an index like the ASX 200 is dictated by the returns of the underlying businesses. BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA) shares have the biggest impact on the ASX 200 because they are the biggest businesses with the biggest allocations.

However, that doesn’t explain what may have happened for Telstra in June 2022.

Market sensitive announcements

In terms of news out of the company, there weren’t any market-sensitive headlines announced by the business.

The last market-sensitive news out of the company was the announcement of the CEO’s retirement and replacement.

However, there was a headline that could help Telstra’s earnings going forwards. It could have also helped the Telstra share price.

At the start of June, Telstra announced it was going to increase prices for customers. This comes after a long period of intense competition in the telco space, with reducing profit margins.

Telstra said in its announcement:

We know that price rises can be hard and it’s not a decision we take lightly. That’s why we want to be upfront about our plan pricing, so you know what to expect and when.

From 1 July our post-paid mobile and mobile broadband data plans will include an annual review and prices may increase by Consumer Price Index in July each year. This July our mobile plan pricing will increase between $2 and $4 per month in line with CPI. Our mobile broadband data plans have not increased this July.

Investors can now look at the prospect of Telstra’s average revenue per user (ARPU) increasing, which can help grow its earnings.

The market often likes to change a company’s share price, such as the Telstra share price, as expectations around profit growth rise and fade.

Expectations of profit growth

CMC Markets currently has estimates of profit growth over the next couple of financial years.

In its projections, Telstra is expected to generate 13.6 cents of earnings per share (EPS) in FY22. But after that, profit is expected to jump higher in FY23 and FY24. EPS is projected to be 17 cents in FY23 and 18.4 cents in FY24.

The post The Telstra share price outperformed the ASX 200 in June appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the best and worst perfoming ASX 200 sectors over June
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Magellan share price sinking 9% today?
• Here’s how the Woodside Energy share price performed over FY2022

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 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) peaked shortly after open on Monday, driven by energy shares, before paring back its gains this afternoon. The index was trading 1.11% higher at 6,612.60 points at the end of today’s session.

The market spent today awaiting the outcome of the Reserve Bank of Australia’s July meeting, to be released on Tuesday afternoon.

The big four banks have previously indicated they’re anticipating the meeting will see interest rates hiked between 0.25% and 0.5%, bringing Australia’s benchmark interest rate to between 1.1% and 1.35%.

However, T. Rowe Price’s Scott Solomon commented a hike of 0.65% – bringing rates to 1.5% – wouldn’t come as a surprise.

Energy shares led the ASX 200 on Monday, likely on the back of rising oil prices. The price of Brent crude oil lifted 2.4% to US$111.63 a barrel on Friday while the price of West Texas Intermediate oil gained 2.5% to US$108.43 a barrel.

Real estate shares were the next best performers, with the sector rising more than 2%.

As of Monday’s close, none of the ASX 200’s 11 sectors was trading in the red.

But which shares outperformed all others? Let’s take a look at today’s top performers.

Top 10 ASX shares countdown today

Taking out the crown of top performer among the ASX’s 200 biggest companies by market capitalisation was APM Human Services International Ltd (ASX: APM). The healthcare share recorded an 8.9% gain on news of debt refinancing.

In its shadow was New Hope Corporation Ltd (ASX: NHC). Shares in the coal producer lifted 7.78% today. Read more on New Hope here.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
APM Human Services International Ltd (ASX: APM)	$3.18	8.9%
New Hope Corporation Ltd (ASX: NHC)	$3.61	7.78%
Latitude Group Holdings Ltd (ASX: LFS)	$1.33	6.4%
Block Inc. (ASX: SQ2)	$92.52	5.12%
Breville Group Ltd (ASX: BRG)	$19.05	5.07%
Reliance Worldwide Corporation Ltd (ASX: RWC)	$4.26	4.93%
James Hardie Industries Ltd (ASX: JHX)	$33.62	4.9%
Virgin Money UK Plc (ASX: VUK)	$2.38	4.39%
Perseus Mining Ltd (ASX: PRU)	$1.66	3.75%
Brickworks Ltd (ASX: BKW)	$9.11	3.58%

Data as at market close.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

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

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More reading

• Here are the best and worst perfoming ASX 200 sectors over June
• Why did ASX 200 energy shares soar today?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why APM, Block, Breville, and Superloop shares are charging higher
• What’s pushing APM Human Services shares 9% higher today?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Brickworks, and Reliance Worldwide Corporation Limited. The Motley Fool Australia has positions in and has recommended Block, Inc. and Brickworks. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Happy Independence Day for our American Fools out there! For the rest of us, since it is 4 July today, it’s a good opportunity to look back at the month that was and check out what happened on the ASX boards. June was a pretty bleak month for ASX 200 shares and the share market overall.

The S&P/ASX 200 Index (ASX: XJO) ended up falling 8.9% over the month, which is a pretty nasty one-month performance. But let’s dig a little deeper into these market moves and check out the best and worst-performing ASX 200 sectors over June.

What were the best and worst-performing ASX 200 sectors over June?

ASX 200 Sector	Code	Performance over June 2022
Consumer Discretionary	XDJ	(-7.4%)
Energy	XEJ	(-0.3%)
Financials	XFJ	(-11.87%)
Health Care	XHJ	(-3.1%)
Information Technology	XIJ	(-11%)
Materials	XMJ	(-12.4%)
Metals and Mining	XMM	(-13.5%)
Industrials	XNJ	(-5%)
A-REIT	XPJ	(-11.6%)
Consumer Staples	XSJ	0.2%
Communications	XTJ	(-3.6%)
Utilities	XUJ	(-7.8%)
Financials ex-A-REIT	XXJ	(-11.9%)
Resources	XJR	(-10.6%)
All Technology	XTX	(-10.3%)

So as you can see, the broad ASX 200 falls that we’ve seen have flowed through to most sectors of the ASX 200, with only one sector recording a gain over the month That was the consumer staples sector. Consumer staples shares include the companies that primarily sell food, drinks, household goods and alcohol. The largest of these are of course Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL).

Due to their ‘safe’ or ‘defensive’ reputation, these kinds of companies are often flocked to in times of market turmoil. We certainly saw that at work over June.

ASX 200 energy shares were the second-best performer. Energy shares have been on fire for most of 2022 thanks mostly to rising energy prices. However, crude oil took a hit over June, which is probably why the energy sector saw a small retreat last month.

Which sectors dragged the index down?

Turning to the worst sectors last month, and metals and mining took out the worst performer, followed closely by materials and financials. These sectors are your typical ‘risk on’ sectors on the ASX 200.

They tend to rise strongly when investor sentiment is positive and fall hard when sentiment turns negative. Well, June was an especially poor month for the ASX 200, so it’s perhaps no surprise we see banks and miners take a big hit last month.

To illustrate, check out the share prices of the ASX 200’s two largest shares – BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA). BHP shares lost 7.53%, while CBA went backwards by 13.4%.

So that’s how the ASX 200 and its sectors fared over June. No doubt investors will be hoping for a far greener July.

The post Here are the best and worst perfoming ASX 200 sectors over June appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Magellan share price sinking 9% today?
• Here’s how the Woodside Energy share price performed over FY2022
• Hoping to bag the next Graincorp dividend? Read this
• ASX 200 midday update: Suncorp’s update, Magellan sinks

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 COLESGROUP DEF SET. 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 Northern Star Resources Ltd (ASX: NST) share price continued to tread lower throughout the month of June.

From market close of $8.95 on May 31 to finishing $6.84 on June 30, this represents a decrease of 24%.

Despite the steep drop, this represents yet another month of strong volatility which has impacted the gold miner’s shares since COVID-19.

At market close on Monday, Northern Star shares have since slightly recovered to finish trading 3.67% higher to $7.06.

What’s happened to the Northern Star share price?

A number of macro environmental factors led the Northern Star share price to sink last month.

The move by major central banks to increase interest rates to lower inflation sparked worries about a potential economic downturn. This ultimately had a negative effect on the gold price as investors shifted their money away from the safe-haven metal.

When interest rates rise, government bonds also increase providing a much more attractive option for investors.

Subsequently, the price of the yellow metal declined almost 2% over the period to hover just above US$1,800 per ounce.

However, the biggest fall in the month came on 27 June with Northern Star shares losing more than 12%.

While no announcements were made by the company, a bearish business update by fellow miner, Evolution Mining Ltd (ASX: EVN) caused the dip.

Furthermore, a report stating that consumer confidence plummeted to a 16-month low in the United States exacerbated market fears.

The release came overnight on June 28, with Northern Star shares shedding almost 10% in the following 3 days.

It is worth noting that with consumer spending habits affected due to the macroenvironmental trends, demand for gold will wane.

This is particularly important because jewellery accounts for the largest slice of global gold demand at about 50%. Next up, central bank reserves account for 25%, individuals at 15% and industrial uses at 10%.

If more aggressive interest rates are followed, this will ultimately drive consumers away from discretionary purchases such as gold.

In effect, lower demand for the previous metal leads to lower prices for gold which in turn affects Northern Star earnings.

What do the brokers think?

Late last month, a couple of brokers weighed in on their thoughts regarding the Northern Star share price.

According to ANZ Share Investing, Citi cuts its price target by 4.1% to $11.60 for the gold miner’s shares.

This was then followed by JPMorgan also reducing its rating by 14% to $9 a pop.

Based on today closing’s price, this represents an upside of 64% and 27%, respectively.

Both brokers believe that Northern Star shares are significantly undervalued given the current economic environment

The post Why has the Northern Star share price tumbled 24% in June appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Why is the Northern Star share price more green than gold on Friday?
• These 3 ASX gold mining shares are digging new 52-week lows today
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today

Motley Fool contributor Aaron Teboneras has positions in Northern Star Resources 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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ASX 200 energy shares enjoyed a stellar day on the market today amid a positive outlook for energy exports.

The New Hope Corp Ltd (ASX: NHC) share price closed 7.78% higher on Monday while fellow coal share Whitehaven Coal Ltd (ASX: WHC) finished 2.56% ahead. Meanwhile, oil and gas producers Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) gained 2.66% and 3.33% respectively.

The broader S&P/ASX 200 Energy Index (ASX: XEJ) pulled ahead 2.62% today.

Let’s take a look at what could have been fuelling ASX 200 energy shares today?

Energy export earnings predicted to increase

Australia’s resource and energy export earnings are forecast to rise to $419 billion in 2022-23, a new government report reveals. That’s another $14 billion on the previous year’s earnings.

In a quarterly report, the Department of Industry, Science and Resources said resource and energy earnings would hit a new record between 2022 and 2023. The report said the surge is being driven by high prices, volume gains, and the weak Australian dollar, adding:

The outlook for Australia’s mineral exports remains strong, as energy shortages persist and the world economy rebounds from the impact of the COVID-19 pandemic.

Specifically, the report highlighted thermal coal prices “remain elevated” due to extreme weather and COVID-19 staff disruptions. Russia’s invasion of Ukraine was also cited as a factor contributing to the rise. The department added:

Record prices are expected to see export values reach $39 billion in 2021-22, with a peak in 2022-23 and a subsequent (price-driven) easing to around $31 billion by 2023-24

With regard to gas, the document estimated Australia’s LNG export earnings more than doubled from $30 billion between 2020-21 to $70 billion in 2021-22. It further predicted LNG spot prices would reach $84 billion in 2022-23.

Meanwhile, metallurgical coal prices are predicted to peak higher than $60 billion in 2022-23 before pulling back to $41 billion between 2023-24. The report said:

Metallurgical coal prices remain at historic highs, pushed up by supply disruptions and market uncertainties as a result of the fallout from the Russian invasion of Ukraine. 

The report also suggested Australian oil export earnings have lifted 81% to $13.5 billion in 2021-22. These earnings are predicted to hit $14.3 billion in 2022-23 before retreating to $12.6 billion.

Share price recap

Woodside shares have gained almost 37% in the past year, while Santos shares are around 5% higher. Meanwhile, Whitehaven shares have soared 141% while the New Hope share price has rocketed almost 100%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has shed almost 10% in the past year.

The post Why did ASX 200 energy shares soar today? appeared first on The Motley Fool Australia.

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More reading

• ‘Well progressed’ share buyback puts Whitehaven Coal shares on the front foot
• Here’s how the Woodside Energy share price performed over FY2022
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• 5 things to watch on the ASX 200 on Monday
• Why did the Santos share price plunge 10% in June?

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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If you’re looking for a few new additions to your portfolio in July, then look no further.

Analysts at Morgans have picked out a number of ASX shares that they class as their best ideas for the month.

The first three we looked at can be found here. Whereas below are three more that the broker rates highly:

BHP Group Ltd (ASX: BHP)

The first ASX share that Morgans thinks could be a great option for investors in July is BHP. The broker likes the Big Australian due to its diverse operations and resilient dividend profile.

We view BHP as relatively low risk given its superior diversification relative to its major global mining peers. The spread of BHP’s operations also supplies some defence against direct Covid-19 impact on earnings contributors. While there are more leveraged plays sensitive to a global recovery scenario, we see BHP as holding an attractive combination of upside sensitivity, balance sheet strength and resilient dividend profile.

Morgans has an add rating and $48.30 price target on BHP’s shares.

Macquarie Group Ltd (ASX: MQG)

Another ASX share that the broker is a fan of this month is investment bank Macquarie. Its analysts believe that the company’s exposure to long term structural growth markets are a big positive.

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while the company continues to gain market share in Australian mortgages.

The broker has an add rating and $215.00 price target on Macquarie’s shares.

South32 Ltd (ASX: S32)

A final ASX share that Morgans rates among its best ideas is South32. This diversified miner has caught the eye of the broker due to the hard work it has done with its portfolio transformation. Not only has this boosted the quality of its earnings, it has improved its ESG credentials.

S32 has transformed its portfolio by divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32’s risk and ESG profile. Unlike its peers amongst ASX-listed large-cap miners, S32 is not exposed to iron ore. Instead offering a highly diversified portfolio of base metals and metallurgical coal (with most of these metals enjoying solid price strength). We see attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy.

Morgans has an add rating and $6.10 price target on South32’s shares.

The post 3 more of Morgans’ best ASX share ideas for July appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why are these ASX 200 mining shares behind the eight ball today?
• Why did the BHP share price have such a lousy FY22?
• South32 crashes into bear market in June as recession fears bite
• June was a terrible month for ASX 200 bank shares. Here’s why

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 Macquarie 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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The Zip Co Ltd (ASX: ZIP) share price took off early on Monday before settling to trade just above its previous close.

Its volatile movement follows a strong session on Wall Street and precedes an interest rate decision from the Reserve Bank of Australia (RBA).

At the time of writing, the Zip share price is 48.2 cents, 0.42% higher than its previous close.

However, earlier today the ASX buy now, pay later (BNPL) share reached a high of 51.5 cents – representing a 7.3% gain.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently 1.12% higher.

Let’s take a closer look at what might be driving the Zip share price on Monday.

What’s going on with the Zip share price today?

Zip’s stock is following in the footsteps of the S&P/ASX 200 Information Technology Index (ASX: XIJ) today.

The sector peaked shortly after open this morning before settling in to trade 1.23% higher at the time of writing.

Its performance followed a decent session on the tech-heavy Nasdaq Composite on Friday, during which the index rose 0.9%.

However, Zip’s stock might not have such a buoyant day tomorrow. Australia is preparing to hear the outcome of the RBA’s monthly meeting tomorrow afternoon.

The big four banks predict the regulator will hike rates by between 0.25% and 0.5%, while T. Rowe Price’s Scott Solomon wouldn’t be surprised if they were upped by 0.65%.

As my Foolish colleague James reported earlier today, rising rates have been among the many factors helping to drag the Zip share price lower over the last 12 months.

The BNPL stock has plunged nearly 89% since the start of 2022. It’s also trading for 93% less than it was this time last year.

The post Up and back down: Why is the Zip share price volatile today? appeared first on The Motley Fool Australia.

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More reading

• The Zip share price lost 94% of its value in FY22
• What on earth happened to ASX 200 tech shares in June?
• Why Austal, Mesoblast, Regis Resources, and Zip shares are charging higher
• Why is the Zip share price jumping 11% today?
• Why did the Zip share price crash more than 50% in June?

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 ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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