Market optimism continues on Tuesday with the benchmark S&P/ASX 200 Index (ASX: XJO) gaining another 0.61% to 6,746.7 points in late afternoon trade.

It comes as ASX coal shares hit back against recent selling pressure, recording strong gains as well.

The Betashares Australian Resources Sector ETF (ASX: QRE) – a proxy for the sector’s performance – has clipped a 3% gain at the time of writing, bouncing from monthly lows.

Why are ASX 200 coal shares rallying on Tuesday?

The price of coal has been bullish lately having climbed from previous lows of US$258/tonne on 30 March.

It tracked north to a high of US$427/tonne on 31 May before settling back to its current level of US$392/tonne.

Its movement marks a tremendous run for the black rock since the pandemic struck back in 2020.

For context, on 1 September 2020, coal hit a closing low of US$49 per tonne. Since then, its price has exploded more than 700%, as illustrated below.

The prospect of a potential energy crisis in Australia is putting upward pressure on the coal price, Reuters reports.

Meantime, Trading Economics is forecasting coal to fetch US$503/tonne in a year’s time.

To put themselves in the box seat, some investors are rallying behind key ASX coal players to position themselves for the potential upside.

Shares in New Hope Corporation Ltd (ASX: NHC) spiked 7.36% today while Whitehaven Coal Ltd (ASX: WHC) is more than 3% higher.

Both miners have seen their share prices surge along with the commodity boom. They are up 102% and 152% in the last 12 months, respectively. Their returns year to date are shown below.

The post Why are ASX 200 coal shares bouncing back on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• This broker is eyeing off a huge 65% upside for the Whitehaven share price
• Why Beach, Cooper Energy, Leo Lithium, and Whitehaven Coal are dropping
• Down 40% Tuesday, up 21% today, what’s going on with this ASX coal share?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why are ASX 200 coal shares having such a smoking session today?

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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The rebound from the Life360 Inc (ASX: 360) share price was short-lived.

In afternoon trade on Tuesday, the location technology company’s shares are down 6% to $2.90.

One small positive is that this is an improvement from a 9% decline to $2.82 in earlier trade.

What’s going on with the Life360 share price today?

The Life360 share price has taken a tumble today despite there being no news out of the company.

Though, it is worth noting that Life360 and a range of tech shares have been sold off again today following a poor night of trade on Wall Street’s Nasdaq index.

Here’s a summary of some of big declines:

• The Appen Ltd (ASX: APX) share price is down 7%
• The EML Payments Ltd (ASX: EML) share price is down 6%
• The Tyro Payments Ltd (ASX: TYR) share price is down 10%
• The Zip Co Ltd (ASX: ZIP) share price is down 7%

Anything else?

Something else that could potentially be weighing on the Life360 share price today is tax loss selling.

Life360 and the other tech shares listed above share on thing in common – they are all on course to record sizeable declines for the financial year. This could mean that some investors are selling off their holdings today to claim a loss on their tax returns.

The post Why is the Life360 share price sinking 9% today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Tech shares tumble, Collins Foods jumps
• Why I think these two ASX shares could turn $5,000 into $100,000
• Why ASX 200 tech shares are outperforming the market on Friday
• ASX 200 midday update: Qantas’ market update, lithium shares rebound
• Why is the Life360 share price rebounding 4% today?

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd, EML Payments, Life360, Inc., Tyro Payments, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Tyro Payments. 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 historic week for the Evolution Mining Ltd (ASX: EVN) share price. But unfortunately, not in a good way. This week has been the worst week for Evolution Mining shares in more than a decade. Perhaps ever.

Yesterday saw the ASX 200 gold miner record a 21.89% fall across that single trading session. Today, those falls have been amplified by another 2.65% drop to $2.57 a share. Yes, this time last week, Evolution was trading at $3.55 a share. Today, we’re more than 27% below that mark.

This precipitous drop was sparked by an update the company provided to the markets. This update covered Evolution’s guidance for FY2022 and its outlook. It reported that Evolution is now expecting gold production to fall 6% year on year. That would be a drop from 680,788 ounces in FY2021 to 640,000 ounces for FY2022.

Further, Evolution is estimating that its all-in-sustaining-costs (AISC) metric for mining one ounce of gold will increase from $1,215 per ounce to $1,250.

Needless to say, investors were not impressed with this update, given the vicious share price reaction we have seen from the markets.

Evolution shares top ASX 200 volume charts

With yesterday’s massive share price drop, coupled with today’s continuing selloff, it might come as no surprise to find that Evolution is today topping the ASX 200’s share volume charts.

According to investing.com, more than 22.6 million Evolution shares have been traded on the share market so far today. That’s roughly seven million more than the next ASX 200 share, which is presently lithium producer Pilbara Minerals Ltd (ASX: PLS).

So there is little doubt that this elevated trading volume has been caused by the massive share price changes this company has experienced over this week so far. No doubt investors will be hoping for a turnaround soon.

At the current Evolution Mining share price, this ASX 200 gold miner has a market capitalisation of $4.75 billion, with a dividend yield of 3.1%

The post Evolution shares take out most traded after experiencing worst fall in more than a decade appeared first on The Motley Fool Australia.

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More reading

• What’s behind the weakness in ASX 200 mining shares during June?
• Optus plea to ACCC doing little to these ASX 200 telco shares today
• ASX 200 midday update: Tech shares tumble, Collins Foods jumps
• ‘Always peaks and troughs’: Fundie names when ASX shares will stabilise
• 5 things to watch on the ASX 200 on Tuesday

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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When an S&P/ASX 200 Index (ASX: XJO) share makes a takeover offer on a small-cap company, the resulting price action can be impressive.

Which is what we’re seeing today after it was revealed that ASX 200 share ALS Ltd (ASX: ALQ) – a global inspection and certification business – made such a takeover bid for HRL Holdings Ltd (ASX: HRL) on 30 May.

HRL, a small-cap laboratory service provider, said negotiations remain under discussion.

What is the ASX 200 share offering?

According to this morning’s release, ALS pitched an unsolicited, non-binding indicative offer to acquire 100% of its smaller rival’s shares for 16 cents cash per share.

That’s a massive premium to yesterday’s closing price of 8.2 cents. And investors took note, driving the HRL share price up to 14 cents, a gain of 70.8% today.

With 494.38 million shares outstanding, the ALS bid values HRL at just over $79 million.

However, the deal isn’t done yet.

HRL stressed that discussions on the takeover offer are “preliminary and incomplete and no agreement has been reached in relation to any transaction”. It said there are no guarantees that the two parties would reach an agreement and that a transaction will eventuate.

HRL said that following the takeover offer from ALS, it entered into a Process Deed on 7 June 2022. This gives the ASX 200 share the opportunity to undertake due diligence and negotiate transaction documentation on an exclusive basis to 20 July 2022.

The Board said shareholders didn’t need to take any action regarding the ALS proposal. Shareholders will be informed of developments.

ALS is being advised by Highbury Partnership and Baker & McKenzie.

McCullough Robertson is acting as the legal adviser for HRL.

How have these 2 companies been tracking?

With today’s huge 71% intraday leap factored in, the HRL share price is up 17% year-to-date.

Investors have responded less enthusiastically to the ASX 200 share making the takeover offer. The ALS share price is down 2% today, putting it down 18% for the calendar year.

By comparison, the ASX 200 is down 11% in 2022.

The post Guess which small-cap company is soaring 71% on a takeover bid from an ASX 200 share appeared first on The Motley Fool Australia.

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• 3 ASX 200 shares trading ex-dividend today

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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ASX 200 mining shares have pared gains in June and now trade near three-month lows.

Despite rebounding sharply today, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is trading almost 8% lower this past month.

Key drivers of the commodity trade have started to wind back in recent weeks resulting in a calming effect across markets.

Brent Crude now trades back at US$116 per barrel, while gold has softened to US$1,826 per troy ounce at the time of writing.

Other hot commodities, such as natural gas – and in particular, copper – have also pared gains, potentially signalling a slowdown in demand amid fears of a recession.

For reference, the copper price is down 13% over the past month, and 12% year over year. Each commodity’s return since 20 May is seen on the chart below.

Another factor impacting the mining shares basket is production guidance downgrades.

That’s been particularly nasty to these two ASX 200 mining shares.

Evolution Mining Ltd (ASX: EVN)

Shares in Evolution Mining have slipped a further 2% in today’s session and now rest at $2.59.

The gold player has been under selling pressure this week after it announced a downgrade to its full year production and earnings guidance.

It now expects FY 2022 gold production to be around 640,000 ounces, down from 700,000 to 760,000 ounces previously.

Guidance has already been reduced twice from that upper figure. The miner also expects higher all-in sustaining costs (AISC) on this production.

As a result, investors have sold off the ASX 200 mining share and losses continue on Tuesday.

OZ Minerals Limited (ASX: OZL)

Shares in OZ Minerals have also weakened this week and now trade at $18.50. The losses culminated in a new 52-week low of $17.71 today as well.

OZ also released a downgrade to its FY22 copper production guidance and lifted its AISC forecasts yesterday.

The copper producer said COVID-19 and labour shortages were driving up costs. Ultimately, this poses a threat to profit margins and earnings.

In a similar vein to Evolution, investors have sold off OZ Minerals shares in response to the downgrade.

This could be key information going forward if more miners follow suit and start to downgrade production forecasts.

Long-term downtrend

Traders have pushed these two ASX 200 mining shares to their depths, continuing a long-term downtrend for both stocks.

Both the OZ Minerals share price and Evolution share price are down about 35% this year to date.

The past 12-month returns for each of these ASX 200 mining shares are seen in the chart below.

The post What’s behind the weakness in ASX 200 mining shares during June? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Evolution, Newcrest, OZ Minerals, and Zip shares are dropping today
• 16-month low: How ASX copper shares are faring this month
• Why is the Northern Star share price sinking 9% today?

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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One analyst is predicting gas prices to rise in the future, so could this be beneficial to gas producers like Santos Ltd (ASX: STO)?

Santos shares are up 3.18% today, currently trading at $7.61. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) is 3.65% higher at the time of writing.

Let’s take a look at the outlook for gas prices.

Gas prices to rise: UBS

UBS analysts have predicted east coast gas contract prices will rise 10% a year up to 2025, according to a Thomson Reuters report cited by NAB trade.

Brokers attributed their forecast to a lack of supply as coal-fired plants in Australia shut down.

The UBS analysts were quoted as saying: “While it may take some time for electricity prices to normalise, we expect the role of gas-fired power generation to lift as coal continues to exit the market.”

Santos generated $281 million in sales revenue from domestic sales of gas and ethane in the first quarter of 2022. Liquefied natural gas sales contributed a further $1.1 billion in sales revenue for the company, while liquefied petroleum gas sales generated $40 million.

Today’s share market gains

Santos is among multiple ASX 200 energy shares rising today as oil supply concerns weigh on the market.

Oil-producing nations Ecuador and Libya are facing disruptions due to political upheaval. At the same time, Group of Seven (G7) countries are discussing possibly placing a cap on the price of Russian oil to show support for Ukraine, Reuters reported.

However, oil consultant Andrew Lipow told the publication this would be difficult to implement given “China and India have become Russia’s biggest customers”.

At the time of writing, Brent Crude Oil prices are up 1.58% to US$116.67 a barrel, while WTI Crude Oil prices are 1.28% higher to US$110.85 a barrel, Bloomberg Energy figures show.

Santos share price snapshot

The Santos share price has climbed 5% in the past 12 months. However, in the year to date, it has gained nearly 21%.

In comparison, S&P/ASX 200 Index (ASX: XJO) has lost around 8% in the past year.

Santos has a market capitalisation of about $25.7 billion based on the current share price.

The post Own Santos shares? This analyst expects gas prices to grow through to 2025 appeared first on The Motley Fool Australia.

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More reading

• ASX 200 energy shares are having a ball today, what’s fuelling it?
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• ‘Need to see cash’: Why these fundies tip big things for the Santos share price
• 5 things to watch on the ASX 200 on Thursday

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 BrainChip Holdings Ltd (ASX: BRN) share price is heading south today despite no new announcements from the company.

At the time of writing, the artificial intelligence (AI) technology company’s shares are down 4.11% to 88.7 cents.

Why are BrainChip shares treading lower today?

Investors are offloading the BrainChip share price following a fall across the S&P/ASX All Technology Index (ASX: XTX).

After the United States-based Nasdaq shed 0.81% overnight, the Aussie tech sector is in sync with a 1.25% decline today.

Last week, the All Ordinaries Index (ASX: XAO) achieved some notable gains on the back of a positive economic outlook.

The United States Federal Reserve predicted that its economy will narrowly avoid a recession in 2022 and 2023.

This led to a strong rebound across global markets and a sharp turnaround from the induced selling by investors beforehand.

It’s also worth mentioning that BrainChip is set to wrap up its second quarter of the 2022 financial year.

These results are expected to be released towards the back end of next month.

The pending update could provide more insight regarding the company’s pathway to the commercialisation of its Akida neuromorphic platform.

Investors should keep a close eye on this.

BrainChip share price snapshot

While the BrainChip share price has tumbled 18% in a month, investors would be pleased with its long-term performance.

Year-to-date, the company’s shares are up 30% and further stretch to 70% when looking at the past 12 months.

Based on today’s price, BrainChip presides a market capitalisation of around $1.59 billion.

The post Why is the BrainChip share price sliding 4% today? appeared first on The Motley Fool Australia.

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• Why is the BrainChip share price gaining 5% on Friday?
• How has the BrainChip share price performed since joining the ASX 200?
• Why did the BrainChip share price spike 7% this morning?
• 5 things to watch on the ASX 200 on Monday
• 3 ASX All Ordinaries shares that leapt more than 10% on Thursday

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

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The Northern Star Resources Ltd (ASX:NST) share price is charging higher today.

At the time of writing, the gold miner is trading at $7.41 apiece, a more than 5% gain on the previous session.

In broad market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is also up 3% today.

What’s up with the Northern Star share price?

Investors are bidding up the Northern Star share price amid a company announcement on its KCGM Mill optimisation pre-feasibility study (PFS).

The KCGM Super Pit is one of the world’s largest and most significant gold mines, the release says. It has a mineral resource of 27.4 Moz and an ore reserve of 11.9 Moz. It is located in Kalgoorlie, Western Australia.

Northern Star acquired 50% of KCGM on 3 January 2020. It then assumed 100% control of the asset following the merger with Saracen Mineral Holdings Ltd back on 12 February 2021.

Since then, the company says it has further understood the resource base. As a result, it presented 3 mill expansion options that were evaluated in the KCGM mill optimisation PFS.

“All three mill expansion options are financially compelling (post tax) and deliver meaningful operational benefits,” the release noted.

Management commentary

Commenting on the update, Northern Star Managing Director, Stuart Tonkin said:

The PFS outcome confirms the enormous opportunity on offer at KCGM, a truly world-class gold asset. Since we moved to 100% ownership of KCGM a little over a year ago, we have diligently and efficiently worked through potential options to create further value for all stakeholders.

We believe Northern Star’s powerful combination of continued operational excellence, the strongest asset portfolio in our history and a commitment to deliver social value, will enable us to provide attractive returns and long-term value growth.

The update contrasts with Evolution Mining Ltd (ASX: EVN)’s full-year production guidance downgrade this week.

The post Own Northern Star shares? Here are the ‘financially compelling’ options vying over $1 billion appeared first on The Motley Fool Australia.

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• Why BlueBet, Collins Foods, Northern Star, and Tassal shares are charging higher
• Why is the Northern Star share price sinking 9% today?
• 5 things to watch on the ASX 200 on Monday
• The Northern Star share price has lost 7% so far this week. What’s happening?
• Stagflation and gold: Could it be an ideal match for ASX 200 gold miners?

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.7% to 6,751.5 points.

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

Appen Ltd (ASX: APX)

The Appen share price is down 7% to $5.92. This follows broad weakness in the tech sector following a poor night of trade on the tech-focused Nasdaq index. The selling in the sector today has led to the S&P ASX All Technology index dropping 1.3% at the time of writing.

BWX Ltd (ASX: BWX)

The BWX share price has crashed 41% to 69 cents. This follows the launch of a fully underwritten $23.2 million capital raising at a whopping 48.7% discount of 60 cents per share. In addition, the personal care products company downgraded its earnings guidance materially for FY 2022 due to challenging retail conditions. That’s despite its most recent guidance update being made last month.

Imugene Limited (ASX: IMU)

The Imugene share price is down over 10% to 21.5 cents. This decline appears to have been driven by profit taking after some very strong gains by the immuno-oncology company’s shares Monday. Investors were bidding Imugene’s shares higher following the release of promising study results.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down 2.5% to $43.04. Wesfarmers and a number of retailers have come under pressure today after a leading broker downgraded their shares due to concerns over a softer consumer demand backdrop. In respect to Wesfarmers, analysts at Ord Minnett downgraded the company’s shares to a lighten rating with a $41.20 price target.

The post Why Appen, BWX, Imugene, and Wesfarmers shares are dropping appeared first on The Motley Fool Australia.

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• Down 7%, what’s impacting the Appen share price today?
• Wesfarmers share price tumbles on broker downgrade
• ASX 200 midday update: Tech shares tumble, Collins Foods jumps
• BWX share price sinks 38% following capital raising at dizzying discount
• Here are the 3 most heavily traded ASX 200 shares on Monday

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 Appen Ltd. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended BWX 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 Appen Ltd (ASX: APX) share price is lagging the market on Tuesday despite the company’s silence.

However, it’s not alone in its suffering. The former S&P/ASX 200 Index (ASX: XJO) stock is joined in the red by many of its fellow tech shares.

At the time of writing, the Appen share price is $5.91, 7.22% lower than its previous market close.

For context, the ASX 200 is currently up 0.61% while the All Ordinaries Index (ASX: XAO) has gained 0.62%.

Let’s take a closer look at what’s going on with Appen and its peers today.

What’s pushing the Appen share price down?

The Appen share price is suffering alongside many of the market’s best-known tech stocks today.

It follows on from a grim Monday on Wall Street that saw the tech-heavy Nasdaq Composite slip 0.72%.

The S&P 500 also slid 0.3% while the Dow Jones Industrial Average fell 0.2% overnight.

Following in Wall Street’s footsteps, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is down 0.8% right now.

That makes it the second-worst performing sector behind the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ).

It’s not just ASX 200 tech shares struggling on Tuesday. The broader tech sector is falling, with the S&P/ASX All Technology Index (ASX: XTX) exhibiting a 1.23% slump.

The ASX 200 tech sector is being dragged down by shares in Life360 Inc (ASX: 360), EML Payments Ltd (ASX: EML), and Megaport Ltd (ASX: MP1). They’ve slipped 6.4%, 5.8%, and 6% respectively.

ASX 200 tech favourites Novonix Ltd (ASX: NVX) and Block Inc (ASX: SQ2) are also down 5.8% and 3.9% respectively right now.

Today marks a major reversal for the Appen share price. It posted a 13% gain over the three previous sessions.

It’s also 12% higher than it was before it was dumped from the ASX 200 last Monday.

The post Down 7%, what’s impacting the Appen share price today? appeared first on The Motley Fool Australia.

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More reading

• Why Appen, BWX, Imugene, and Wesfarmers shares are dropping
• Why ASX 200 tech shares are outperforming the market on Friday
• Why Appen, Infomedia, PointsBet, and Vicinity shares are storming higher
• 3 ASX All Ordinaries shares having a cracking Monday
• Appen share price jumps 10% despite ASX 200 exit: What’s going on?

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 Appen Ltd, Block, Inc., EML Payments, Life360, Inc., and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. and EML Payments. The Motley Fool Australia has recommended MEGAPORT FPO. 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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