The Aussie Broadband Ltd (ASX: ABB) share price is in the red on Thursday despite the company retaining an important crown.

The company has been found to be Australia’s most trusted telco again – a critical measure for the health of the brand.

At the time of writing, the Aussie Broadband share price is $3.55, 0.7% lower than its previous close.

For context, the broader market is also struggling on Thursday. The S&P/ASX 200 Index (ASX: XJO) is currently down 1.14% while the All Ordinaries Index (ASX: XAO) has slipped 1.18%.

Let’s take a closer look at Aussie Broadband’s retained title and what it means for the company.

Aussie Broadband wins ‘most trusted’ in 2022

Aussie Broadband is likely celebrating today despite the company’s share price sliding.

Today, it revealed Aussies named the telco as the industry’s most trusted brand for the second year in a row, according to research by Roy Morgan.

Roy Morgan CEO Michele Levine recently noted that trust was “the cornerstone of a sustainable future” and a key value driver. Trust could account for around 75% of a brand’s reputation, Levine said.

According to Aussie Broadband customers, the brand’s key trustworthy attributes were “good customer service and reliability”.

Aussie Broadband managing director Phillip Britt today commented on the research house’s findings, saying:

We’re very honoured that consumers and Roy Morgan have recognised that we provide a high-quality service and see us as the most trusted telco in Australia.

Plenty of accolades

The title of ‘Australia’s most trusted telco’ is just the latest the company has managed to retain.

Last month, it took out Internet Service Provider of the Year for the second year in a row at Roy Morgan’s Customer Satisfaction Awards for 2021.

The company also joined an exclusive list of 10 brands found to be Australia’s ‘best of the best’, an award featuring winners of all 40 categories designated by Roy Morgan.

The telco is one of just four brands to receive the award in consecutive years.

Aussie Broadband share price

Despite the company being a favourite among customers, the Aussie Broadband share price has struggled this year.

It’s currently 25% lower than it was at the start of 2022. However, shares in the company are still 24% higher than this time last year.

The post Aussie Broadband share price dips despite telco named ‘Australia’s most trusted’ appeared first on The Motley Fool Australia.

More reading

• Down 20% in 2022, is the Aussie Broadband share price a no-brainer buy?
• Leading brokers name 3 ASX shares to buy today
• These ASX 200 companies just lost market share to a small-cap rival
• 3 quality ASX All Ordinaries shares that defied today’s sell-off

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 Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband 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 Westpac Banking Corp (ASX: WBC) share price has continued its slide on Thursday.

In afternoon trade, the banking giant’s shares are down a further 4% to $21.00.

This means the Westpac share price is now down over 12% this week.

Why is the Westpac share price sinking?

Investors have been selling bank shares this week amid concerns over the Reserve Bank of Australia’s aggressive rate hikes.

There are fears that a quick and aggressive tightening cycle could create challenges for the major banks from more expensive wholesale funding, a weaker housing market, and a greater risk of a recession. Whereas a gradual and measured tightening cycle was expected to be more manageable for the banks and the economy.

Also weighing on the Westpac share price today is news that UBS has downgraded its shares.

According to the note, the broker has downgraded the bank’s shares to a neutral rating and cut the price target on them to $26.00.

UBS highlights that bank shares have traditionally underperformed the market during periods of high inflation and low growth.

Though, it is worth noting that the broker’s price target still implies material upside for investors, so it isn’t all bad news for them.

The post Westpac share price slides again and is now down 12% this week appeared first on The Motley Fool Australia.

More reading

• What exactly is going on with ASX 200 bank shares and the RBA rate rise?
• Why BrainChip, Firefinch, Magellan, and Westpac shares are dropping
• Here are the 3 most traded ASX 200 shares on Wednesday
• Why are ASX 200 bank shares plunging on Wednesday?
• Westpac share price tumbles 5% on Wednesday

Motley Fool contributor James Mickleboro has positions in 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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S&P/ASX 200 Index (ASX: XJO) bank shares are not feeling the joy from the Reserve Bank of Australia’s 0.50% interest rate hike decision on Tuesday.

With all of the ASX 200 bank shares deep in the red today, the S&P/ASX 200 Financials Index (ASX: XFJ) is down 2.8%, more than twice the 1.1% decline posted by the ASX 200.

And the big banks are all underperforming the financial index.

How are the ASX 200 bank shares performing?

In late morning trade, here’s how the ASX 200 bank shares stack up:

• Commonwealth Bank of Australia (ASX: CBA) share price is down 4.1%
• Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is down 2.7%
• Westpac Banking Corp (ASX: WBC) share price is down 3.8%
• National Australia Bank Ltd (ASX: NAB) share price is down 3%

All of the big banks sold off in the 90 minutes of trading that remained following the RBA’s Tuesday rate hike announcement. And all of them lost ground yesterday.

Putting the numbers together, since 2:30 pm AEST when the RBA surprised markets with the hawkish rate hike, the CBA share price is down 9.3%, ANZ shares have lost 5.8%, Westpac is down 10.6%, and the NAB share price has fallen 7.9%.

What’s going on?

ASX 200 bank shares receive both tailwinds and headwinds from increased interest rates.

With rates at near zero this past year, the banks saw their net interest margins squeezed.

If rates move gradually higher, so too do their profit margins. Matt Comyn, CEO of CommBank, estimates that the banks’ net interest margins will increase by 0.04% for every 0.25% the RBA boosts the cash rate.

But the selling action we’re seeing among the ASX 200 banks since Tuesday afternoon’s rate hike tells us the tailwinds are winning out for now.

That’s likely because the RBA increased rates by more than consensus expectations, and governor Philip Lowe sounded some hawkish notes about further rate increases ahead in 2022.

That not only increases the banks’ own funding costs, it could also negatively impact their lucrative mortgage lending, with the potential for an increase in bad debts alongside fewer new loans being issued.

And falling house prices have historically seen the banks struggle.

Richard Wiles, head of Australian research at Morgan Stanley, pointed out that ASX 200 bank shares are likely to underperform if the RBA moves aggressively with rate increases.

“Much of the benefit of higher rates is factored into the outlook,” he said. “Housing loan growth is likely to slow, inflation is putting more pressure on costs, and a quick and aggressive tightening cycle increases tail risks.”

The post What exactly is going on with ASX 200 bank shares and the RBA rate rise? appeared first on The Motley Fool Australia.

More reading

• Why is the NAB share price sinking on Thursday?
• Why has the CBA share price cratered 4% today?
• Why BrainChip, Firefinch, Magellan, and Westpac shares are dropping
• Here are the 3 most traded ASX 200 shares on Wednesday
• Rate pain? ANZ share price dips to 52-week low on Wednesday

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 National Australia Bank Ltd (ASX: NAB) share price is again heading south today.

At the time of writing, the banking giant’s shares are down 2.66% to $28.14. This means that in the past week, its shares have fallen more than 10%.

For context, the S&P/ASX 200 Financials Index (ASX: XFJ) is down 2.36% today to 6,036.2 points.

Shares in the other big four banks, Westpac Banking Corp (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA), and Australia and New Zealand Banking Group Ltd (ASX: ANZ), are shedding 3.69%, 3.48%, and 2.07%, respectively.

What’s happening with NAB shares?

The NAB share price could be falling as banks continue to feel the knock-on effects of the Reserve Bank of Australia’s decision on Tuesday to raise the cash rate by 0.50%. All the major banks saw their share prices fall on Wednesday as investors digested the news.

There was also a non-price-sensitive announcement out of NAB after the market closed yesterday.

According to the update, NAB announced that it has allocated $2 billion under the capital notes 6 offer. Previously, the bank set aside around $1 billion.

The revised offer size appears to be from the heavy demand by participating syndicate brokers and institutional investors.

Furthermore, management disclosed that the margin will be at 3.15% per annum on the back of the successful bookbuild.

A replacement prospectus will be available for investors to view next Tuesday.

The capital notes are being issued as part of NAB’s ongoing funding and capital management strategy. Management will distribute the proceeds towards the bank’s general corporate and funding purposes.

There have been no changes to the capital notes 6 closing date, which is expected on 30 June 2022. Settlement will take place on 7 July, with the notes available for trading the following day.

NAB share price summary

While it has been a tough month for all banking shares, the NAB share price is up around 5% over the last 12 months.

However, when looking at year-to-date, its shares are down roughly 3%.

Based on today’s price, NAB commands a market capitalisation of roughly $96.62 billion.

The post Why is the NAB share price sinking on Thursday? appeared first on The Motley Fool Australia.

More reading

• What exactly is going on with ASX 200 bank shares and the RBA rate rise?
• Why are ASX 200 bank shares plunging on Wednesday?
• NAB share price backtracks amid $1 billion capital raise
• What’s the outlook for the NAB share price in June?
• 2 top ASX dividend shares to buy according to analysts

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 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 Coles Group Ltd (ASX: COL) share price has been falling in recent weeks. Could the supermarket giant now be a buying opportunity?

As a supermarket network, Coles is able to pass on inflation increases to consumers through higher prices on the shelves. If it maintains the same earnings before interest and tax (EBIT) margin, then a price inflation can benefit the company’s bottom line net profit.

At the time of writing, the Coles share price is down 0.51%, trading at $17.57.

How has the company performed recently?

In its FY22 third quarter for the 12 weeks to 27 March, Coles said total sales increased by 3.9% to $9.3 billion. The supermarkets segment saw sales growth of 4.2% to $8.23 billion.

The company noted that floods in South Australia caused some logistical disruptions into Western Australia and the Northern Territory. Floods in New South Wales and Queensland saw 130 stores temporarily close across supermarkets, liquor and the Coles Express network.

It also noted that cost price inflation is impacting suppliers as a result of increased raw material, commodity, shipping and fuel costs.

In addition, local shopping trends re-emerged with the contribution from neighbourhood stores becoming greater, compared to shopping centres and CBD stores. Supermarket e-commerce sales growth was 45%, reflecting increased capacity investments.

Coles also said that in the fourth quarter to date, it recorded a “solid” trading period, with no COVID-19 related restrictions on traditional family events such as Easter.

The ASX share said it was continuing to manage the ongoing impacts from the third quarter’s disruptive events. Availability was improving as the supply chain recovered. COVID-19 costs are expected to continue to moderate further.

However, supplier input cost inflation was expected to continue in the fourth quarter and into FY23. Coles said it would continue to focus on providing “trusted value” for customers to ease the burden from cost of living pressures.

What do brokers make of the Coles share price?

The broker Morgans currently rates Coles as a buy, with a price target of $20.65. That implies a possible rise of 17% over the next year. Morgans noted that the third quarter update was better than expected, despite various COVID-19 impacts and other disruptions.

Morgans values the Coles share price at 24x FY22’s estimated earnings with a grossed-up dividend yield of 4.9%.

Macquarie is another broker that rates Coles as a buy. The price target is $19.70, suggesting a possible upside of more than 10%. The broker thinks that a business like Coles in the food and staples retailing sector can do better than ASX shares in some other categories.

Due to the potential for (and evidence of) price/earnings (p/e) ratio de-ratings for many ASX shares during these times of rising interest rates, a lower p/e ratio business like Coles could do better.

Macquarie numbers imply that the Coles share price is valued at 23x FY22’s estimated earnings and a potential grossed-up dividend yield of 5%.

However, Credit Suisse rates the Coles share price as ‘neutral’, with a price target of $18.81. That suggests a mid-single-digit rise. One of the reasons it’s less optimistic is because it doesn’t think Coles’ profit margins will do as well as other investors are expecting.

Credit Suisse thinks the Coles share price is valued at 23x FY22’s estimated earnings with a grossed-up dividend yield of 5.1%.

In FY23, all three brokers are expecting a slight increase in profit and dividend growth.

The post Is the Coles share price a bargain buy right now? appeared first on The Motley Fool Australia.

More reading

• Where next for the Coles share price?
• 2 inflation-beating ASX 200 dividend shares experts rate as buys this month
• UBS warns of more downgrades for ASX 200 shares… but not all
• Why is the Coles share price lagging the ASX 200 on Friday?
• Fundie reveals 3 ASX 200 shares with major pricing power to counter inflation

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 COLESGROUP DEF SET. 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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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has sunk deep into the red. The benchmark index is down 1.1% to 7,040.3 points.

Here’s what is happening on the ASX 200 today:

Hamish Douglass returns to Magellan

The Magellan Financial Group Ltd (ASX: MFG) share price has avoided the market selloff. This fund manager’s beaten down shares are rebounding today after the company announced the return of co-founder Hamish Douglass in a new consultancy role. From October, Mr Douglass will provide investment insights, including geopolitical and macroeconomic views.

Crown takeover getting closer

The Crown Resorts Ltd (ASX: CWN) share price is also pushing higher on Thursday. This has been driven by news that Blackstone’s takeover bid has received approval from the Victorian Gambling and Casino Control Commission and New South Wales Independent Gaming and Liquor Authority. This brings the $8.9 billion takeover a huge step closer to completion.

Energy shares storm higher

One sector is shining on Thursday and that is the energy sector. Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) shares are helping drive the S&P/ASX 200 Energy index 0.8% higher today. This follows another rise in oil prices overnight, which took them to 13-week highs. This was driven by rising US gasoline demand.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Magellan share price with a 2.5% gain following the aforementioned return of Hamish Douglass. Going the other way, the worst performer has been the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price with a 7% decline on no news. The biopharmaceutical company’s shares are now down over 50% this year.

The post ASX 200 midday update: Magellan rebounds, Crown’s takeover boost appeared first on The Motley Fool Australia.

More reading

• Why is the Crown share price beating the ASX 200 today?
• Magellan share price pushes higher on Hamish Douglass return
• 5 things to watch on the ASX 200 on Thursday
• Why is the Woodside share price flying higher today?
• Why BrainChip, Firefinch, Magellan, and Westpac shares are dropping

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

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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.

Twitter (NYSE: TWTR) and Meta Platforms (NASDAQ: FB) became two of the most talked-about social media companies in recent months.

Twitter’s drama started in early April after Elon Musk took a 9.2% stake in the company. Shortly afterwards, Musk launched a hostile bid to acquire all of Twitter at $54.20 a share in a $44 billion deal. Twitter accepted the deal after initially adopting a “poison pill” defense against Musk’s offer.

But over the past month, Musk tried to back out of the deal by accusing Twitter of failing to provide adequate information about its spam and bot accounts. As of this writing, the deal is still in limbo, and Twitter’s stock price remains about 26% below Musk’s “best and final” offer.

Meta’s downfall started in February after it provided dismal guidance for the first quarter of 2022. Its actual first-quarter report in April was lackluster, and the company continued to blame its recent slowdown on Apple‘s (NASDAQ: AAPL) iOS update and competition from ByteDance‘s TikTok.

Meta also remained committed to burning billions of dollars each year on its messy metaverse efforts, and the recent resignation of chief operating officer Sheryl Sandberg stunned investors. Snap‘s sudden reduction of its second-quarter guidance in late May, which it attributed to a deteriorating macro environment for digital ads, raised even more red flags.

That’s why Twitter and Meta have both been terrible investments over the past 12 months. Twitter’s stock has tumbled more than 30% during that period, while Meta’s stock has plummeted over 40%. But could either of these stocks bounce back over the long term?

Twitter might grow faster than Meta this year

Twitter’s revenue rose 37% to $5.08 billion in 2021. Its total number of monetizable daily active users (mDAUs) increased 13% to 217 million.

In the first quarter of 2022, its revenue grew 16% year over year to $1.2 billion. Excluding its sale of MoPub from both periods, its revenue increased 22%. Its mDAUs grew 16% to 229.0 million.

Meta’s revenue rose 37% to $117.9 million in 2021. The total number of daily active people (DAP) across its entire family of apps (Facebook, Messenger, Instagram, and WhatsApp) increased 8% to 2.82 billion.

But in the first quarter of 2022, Meta’s revenue only grew 7% year over year to $27.9 billion as the aforementioned headwinds throttled its growth. However, its family DAP still rose 6% to 2.87 billion.

Analysts expect Twitter’s revenue to rise 16% to $5.88 billion this year, but they only expect Meta’s revenue to increase 7% to $126.6 billion. We should take those estimates with a grain of salt, but that gap likely reflects Twitter’s lower exposure to Apple’s iOS changes (since it also relies heavily on first-party and contextual data for ads) and direct competition from TikTok’s videos.

Twitter might generate stronger near-term profit growth

Twitter posted a net loss of $221 million in 2021, but that red ink was mainly caused by a one-time litigation charge of $766 million. On an adjusted basis, which excludes that charge and other one-time expenses, it generated a net profit of $165 million, or $0.20 per share.

Analysts expect Twitter’s adjusted earnings per share (EPS) to surge 730% to $1.66 this year as it laps those litigation expenses and realizes the gains from its $1.05 billion sale of MoPub to AppLovin. In 2023, they expect Twitter’s revenue to rise 22% to $7.15 billion but for its adjusted EPS to dip 22% against those tough year-over-year comparisons.

Meta’s net income increased 35% to $39.4 billion, or $13.77 per share, in 2021. However, analysts expect its EPS to dip 14% this year as it ramps up its spending on its short video platforms (Facebook Watch and Instagram Reels) and continues to expand its Reality Labs business.

But in 2023, analysts expect Meta’s revenue and earnings to grow 17% and 18%, respectively, if those investments pay off. Therefore, if you have faith in CEO Mark Zuckerberg’s turnaround plans, then 2022 might merely be a short-term speed bump for the company. 

The valuations and verdict

Twitter is trading at a steep discount to Musk’s offer, but it still can’t be considered a bargain at 41 times forward earnings. Its $6.3 billion in cash, cash equivalents, and marketable securities could also limit its ability to expand through investments and acquisitions.

Meanwhile, Meta has become the cheapest FAANG stock at just 16 times forward earnings, which suggests investors don’t have much faith in its ability to address Apple’s platform changes, counter TikTok’s growth, or rein its metaverse spending. However, Meta was still sitting on $43.9 billion in cash and marketable securities last quarter, so it can easily afford to buy additional companies or switch gears to address those challenges.

Therefore, Twitter might initially seem like the better buy, but I believe Meta’s larger audience, better diversified portfolio of apps and services, stronger balance sheet, and lower valuation all make it a more compelling long-term investment. As for Twitter, its willingness to sell itself to Musk — who is now trying to hastily back out of the deal — seems like a bright red flag. 

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

The post Better buy: Twitter vs. Meta Platforms appeared first on The Motley Fool Australia.

More reading

• Twitter stock: The 1 huge challenge Elon Musk faces
• 2 top Nasdaq stocks the world’s best investors were buying last quarter
• Why Meta Platforms stock just rose while Amazon sank
• Will Microsoft and Apple shares finally give way in the stock market’s downturn?
• Why Meta Platforms stock dipped on Monday

Leo Sun has positions in Apple and Meta Platforms, Inc. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Meta Platforms, Inc., and Twitter. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and Meta Platforms, Inc. 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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I think investing in ASX shares can be a really good way of building wealth over the long term.

There are plenty of different asset classes that investors can choose from. But I believe ASX shares are the leading choice for a few different reasons.

While there will be volatility sometimes, that doesn’t put me off ASX shares. I love them for the following reasons.

Returns

The ultimate goal of investing is to produce investment returns. I think ASX shares are a good way to deliver useful compounding returns.

According to Vanguard, Australian shares have delivered an average return per annum of almost 10% between January 1970 and April 2022.

While past performance is not a reliable indicator of future performance, I think ASX shares can provide decent returns going forward as they continue to make profit and hopefully keep growing that profit over time.

A lot of investors like to value businesses based on the profit of cash flow generated. If the earnings grow, then the share price can theoretically grow.

However, shares can be quite volatile in any given month or year. But volatility is one of the main prices of admission to the ASX share market.

One of the sayings by the great Warren Buffett is that the share market is a “device for transferring wealth from the impatient to the patient“. We can take advantage of this.

Dividends

Dividends form part of the overall return of ASX shares. I think dividends are underrated.

Businesses can decide to pay out some of the profit made each year, allowing investors to receive real cash returns without having to sell their shares.

Investors can choose to spend those dividends or reinvest them into more shares, accelerating wealth growth.

Some businesses pay dividend yields that are much better than what banks are (currently) offering in savings accounts. Examples of ASX dividend shares include Brickworks Limited (ASX: BKW), Baby Bunting Group Ltd (ASX: BBN), Collins Foods Ltd (ASX: CKF) and Wesfarmers Ltd (ASX: WES).

Cheap to invest

Brokerage is cheap these days, allowing investors to get involved for very little upfront cost.

I’m not going to point investors to a particular share broker, but there are plenty of operators that let people invest under $1,000 for around $10 or less per trade.

Other assets can come with much higher transaction costs. For example, buying a property can come with many thousands of dollars of stamp duty, depending on the price of the property and the state that property is in.

Easy administration and takes little of my own time

I think it’s really easy to do the administration of shares.

Business management or funds management administration does most of the work of looking after a business or investment. The CEO of Wesfarmers isn’t going to ring me asking what to do or approve something. Once I’ve bought those shares, it takes little of my own time to keep on top of them.

There’s no dealing with tenants or property managers.

If people haven’t sold shares during the year then reporting dividends and distributions to the ATO is pretty easy at tax time. Dividend statements are given for each payment, and MyGov/pre-fill reports usually automatically have the investment income already reported for taxpayers. Tax time can be pretty simple with ASX shares.

Foolish takeaway

I love investing in ASX shares, it makes it easy to build wealth without using a lot of time managing investments. Getting paid dividends is awesome as well. I’m always on the lookout for ASX shares that could make good additions to my portfolio.

The post Why I love investing in ASX shares appeared first on The Motley Fool Australia.

More reading

• Why is the Crown share price beating the ASX 200 today?
• How is the BHP share price performing so far in June?
• How has the Xero share price performed since reporting FY22 results?
• Rio Tinto share price lifts amid ‘important’ renewable energy step
• 2 ASX growth shares I’d buy right away with $2,000

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 Brickworks and Collins Foods Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Wesfarmers Limited. The Motley Fool Australia has recommended Baby Bunting and Collins Foods 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 market may be tumbling on Thursday but hasn’t stopped the Crown Resorts Ltd (ASX: CWN) share price from pushing higher.

At the time of writing, the casino and resorts operator’s shares are up a decent 2% to a 52 week high of $13.00.

This compares favourably to a 1.1% decline by the ASX 200 index.

Why is the Crown share price beating the market?

Investors have been bidding the Crown share price higher today following an update on its proposed takeover by private equity firm Blackstone.

Crown is in the process of being acquired by Blackstone via a blockbuster $8.9 billion scheme of arrangement.

According to the release, this morning the Victorian Gambling and Casino Control Commission (VGCCC) and New South Wales Independent Gaming and Liquor Authority (ILGA) have given their approval to Blackstone’s acquisition of Crown.

This is a big boost for Blackstone’s $13.10 cash per share proposal, as it means there’s only limited approvals now required for the deal to complete successfully.

The release notes:

The Scheme remains subject to the receipt of gaming regulatory approval in Western Australia, the approval of the Federal Court of Australia at the final Court hearing in relation to the Scheme, and other customary conditions precedent.

However, as the gaming regulatory approval in Western Australia remains outstanding, the date of the final Federal Court hearing has not yet been fixed. In light of this, Crown will update the market once approval is granted and a court date can be fixed.

Today’s gain means the Crown share price is now up over 13% since the start of the year. This means a 20% outperformance compared to the ASX 200 index, which is down 7% year to date.

The post Why is the Crown share price beating the ASX 200 today? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here’s why the Crown share price is climbing higher today

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

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The BHP Group Ltd (ASX: BHP) share price has dipped slightly in early trade today, slipping 0.13% at the time of writing.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is also down today, edging 0.27% lower.

Let’s zoom out, though, to see how the BHP share price is performing so far in June.

What’s been happening lately?

BHP has had it’s fair share of ups and downs this year-to-date but the mining giant’s shares are trading higher so far in June, up more than 4% since the open on 1 June.

This climb is reflected in the overall upbeat sentiment across the S&P/ASX 200 Resources Index (ASX: XJR) sector, up 4.5% over the same period.

While BHP shares are continuing their stronger form this month, management marked an exciting milestone last week.

In a news update, the company advised its Western Australia Iron Ore (WAIO) operations had achieved an autonomous drilling milestone.

BHP WAIO division has had its drills operating autonomously for more than 479,607 hours. This equates to drilling more than 25 million metres, which is the distance between Perth and Newman around 21 times. Newman is located 1186km north of Perth in the Pilbara region of WA.

About BHP’s autonomous drilling

The company first started its remotely operated drilling program at the Yandi iron ore mine in Western Australia in late 2016.

Since then, BHP has expanded autonomous drilling to a total of 26 rigs across its five Pilbara mine sites. Other locations include Mining Area C, Newman’s Eastern Ridge mine, Jimblebar, Newman’s Whaleback mine, and South Flank.

All rigs across each of the mine sites are controlled remotely from the Integrated Remote Operations Centre (IROC) in Perth.

BHP’s WAIO now holds the title as one of the biggest autonomous drill fleets in the world.

WAIO Asset President, Brandon Craig commented on the feat:

This is an exciting milestone in WAIO’s autonomous journey and one we should all be proud of.

The autonomous drilling program sought to eliminate the risk of safety incidents and serious injuries to our people and, by removing them from the drilling frontline, we’ve also seen an increase in overall drill productivity.

BHP share price summary

Year-to-date, BHP shares are up around 30%. A boom in commodity prices alongside the Russian war in Ukraine are likely to have helped support BHP’s margins.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is down almost 2% over the month after a strong beginning in 2022.

Based on valuation grounds, BHP has a market capitalisation of around $234.39 billion and a price-to-earnings (P/E) ratio of 10.78.

The post How is the BHP share price performing so far in June? appeared first on The Motley Fool Australia.

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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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