It’s likely that all of the S&P/ASX 200 Index (ASX: XJO) banks will move to pass on the latest rate rise from the Reserve Bank of Australia (RBA). Though as of this morning, only one has done so.

Yesterday, the RBA surprised most analysts with a higher than expected 0.5% increase in the official cash rate. The consensus forecast had been for a 0.25% or 0.4% rise. The official cash rate now stands at 0.85%, with RBA governor Philip Lowe indicating a series of additional hikes ahead.

Despite financial stocks being among the few to potentially benefit from higher rates, ASX 200 bank shares sold off alongside the broader index following the 2:30pm AEST announcement from the central bank.

Of course, for the banks to increase their lending margins amid the higher official cash rate, they need to up their own lending rates.

Westpac the first mover among the ASX 200 banks

The first of the ASX 200 banks to do so is Westpac Banking Corp (ASX: WBC).

This morning Westpac announced it was raising its home loan variable interest rates by 0.5% for both new and existing customers. The higher rates take effect starting 21 June, two weeks post the RBA’s hike.

While that won’t come as good news to customers with sizeable mortgages, savers will take heart from the bank’s introduction of a new 12-month term deposit paying a 2.25% interest rate.

Commenting on the rate rise, Westpac consumer and business banking chief executive Chris de Bruin said:

We know a change in interest rates affects every budget differently. Our customers have managed their finances carefully during the pandemic, with many putting more funds aside in their savings and offset accounts. This means the majority of our customers are ahead on mortgage repayments and have a buffer available to help them manage an interest rate increase.

Westpac share price snapshot

The Westpac share price is the worst performer among the ASX 200 banks today, down 5.3% in morning trade.

Year to date, Westpac has outperformed the other banks and the ASX 200, with shares up 3.8% so far in 2022.

The post Which ASX 200 bank is the first to pass on the full RBA rate hike? appeared first on The Motley Fool Australia.

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• What are brokers forecasting for the Westpac share price in June?

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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It isn’t only the risk of recession that ASX share investors need to worry about as the threat of stagflation rears its ugly head.

The aggressive interest rate posture taken by the Reserve Bank of Australia (RBA) yesterday is fuelling speculation about the dreaded ‘S’ word.

While economists largely agree that a recession here is unlikely thanks to our considerable exposure to commodities, stagflation could be a more likely outcome.

What is stagflation?

Stagflation refers to an environment of persistent high inflation and a stagnant economy with high unemployment.

Fortunately, employment is still strong — but that could change quite quickly. The RBA’s 50-basis point (bps) increase to the cash rate and promises of more to come will inevitably slow economic growth. The collateral damage to that outcome is higher unemployment.

High prices and growth headwinds

It isn’t only the RBA with its finger on the rate-hike machine-gun trigger. The United States Federal Reserve is also moving quickly to lift rates in the US.

There is a greater chance that the US could slip into a mild recession, defined as two quarters of negative gross domestic product (GDP) growth. Again, this doesn’t mean Australia will be dragged into a recession as well, but such an outcome will drag on growth here.

Impact of stagflation on ASX shares

This again lifts the risk of stagflation for us, which will have consequences for ASX shares. Higher costs caused by inflation could squeeze companies. But they’ll have limited ability to pass on rising costs to consumers due to the economic malaise.

However, the pain won’t be uniformly felt across the board. Some ASX sectors will be impacted more than others. Discretionary retail is one example where sellers have to pay more for goods as consumer spending slows.

Best performing asset class

On the other hand, some ASX shares could benefit from stagflation. These tend to be defensive shares, commodity producers and gold.

A report by Schroders illustrates this point. The wealth manager studied the average real (inflation-adjusted) year-on-year total return of major asset classes since 1973.

While the study was US-centric, it shows the best stagflation performers were gold (+22.1%). The next best performing were commodities (+15.0%), followed by real estate investment trusts (REITs) (+6.5%).

Schroders explains:

This makes sense. Gold is often seen as a safe-haven asset and so tends to appreciate in times of economic uncertainty. Real interest rates also tend to decline in periods of stagflation as inflation expectations rise and growth expectations fall. Lower real rates reduce the opportunity cost of owning a zero-yielding asset such as gold, thereby boosting its appeal to investors.

The ASX shares that may outperform during stagflation

Thankfully for our resources-heavy ASX share market, commodities are also tipped to outperform. Again, this is logical as the source of inflationary pressure comes from raw materials and energy.

However, it’s arguably the lowest cost producers that are best placed. This is because demand is likely to slow due to high prices.

Meanwhile, other defensive ASX shares such as REITs are also protected as their rental contracts often include an inflation-linked adjustment allowance.

The post What is stagflation and how will it impact ASX shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brendon Lau 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 Paladin Energy Ltd (ASX: PDN) share price has been a very strong performer on Wednesday.

In morning trade, the uranium producer’s shares are up 13% to 79.5 cents.

Why is the Paladin Energy share price shooting higher?

Investors have been bidding the Paladin Energy share price higher today despite there being no news out of the company.

However, there has been some very positive industry news which is giving uranium shares a big lift.

For example, the Boss Energy Ltd (ASX: BOE) share price is currently up 11%, the Deep Yellow Limited (ASX: DYL) share price is currently up 8%, and the Peninsula Energy Ltd (ASX: PEN) share price is up 20%.

What’s happening?

The catalyst for the rise in uranium shares on Wednesday appears to be news out of the United States.

According to Bloomberg, the Biden administration is pushing lawmakers to support a US$4.3 billion plan to wean the United States off Russian uranium imports for its nuclear reactors.

And while the Biden administration is seeking to buy enriched uranium directly from American producers as part of the plan, given Australia’s close ties with the United States, investors appear optimistic that local producers could also become part of the deal.

Particularly given that the United States only has one remaining commercial enrichment facility. This is a New Mexico plant owned by British-German-Dutch consortium, Urenco.

Not that this would matter to Peninsula Energy, as it already has the Lance Project in Wyoming, USA. It is also worth noting that Paladin Energy has the Michelin project over the border in Canada.

Overnight, the Global X Uranium ETF jumped as much as 7.4% to its highest intraday price in a month on the news.

The post Why is the Paladin Energy share price jumping 13% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Atlas Arteria Group (ASX: ALX) share price is leaping on news IFM might be lining up a takeover approach.

The IFM Global Infrastructure Fund has snapped up around 15% of the company’s stock and indicated it might submit a takeover bid.

At the time of writing, the Atlas Arteria share price is $8.26, 16.27% higher than its previous close.

Though, that’s down from its intraday – and new 52-week – high of $8.35 – representing a 17.6% gain.

Let’s take a closer look at today’s news from the global toll road operator.

Atlas Arteria flags potential takeover interest

The Atlas Arteria share price is rocketing higher after IFM indicated that it might ask for limited company information to potentially build an acquisition offer.

To kick start the potential takeover process, the fund has acquired a 15% stake in the S&P/ASX 200 Index (ASX: XJO) infrastructure giant.

It paid $8.10 per share after the market closed yesterday for the final piece of that holding. Such a price tag represents a 14% premium on Atlas Arteria’s previous close.  

A full takeover of Atlas Arteria could set IFM back $7.8 billion, the Australian Financial Review reports.

According to a release from the company, IFM indicated that any proposal it might submit would be subject to the completion of due diligence, as well as other conditions.

So far, IFM hasn’t requested more information from Atlas Arteria, nor has it proposed to buy any additional shares.

In fact, the company was clear in saying there’s no guarantee of any takeover bid at this stage. Thus, shareholders don’t need to take any action.

Nevertheless, the potential of a future acquisition offer – as well as IFM’s apparent belief Altas Arteria shares are worth $8.10 apiece – has excited the market this morning.

IFM was the leader of the consortium that snapped up the formerly-ASX listed Sydney Airport in February.

Atlas Arteria share price snapshot

Today’s gains have helped boost the Altas Arteria share price even further into the green.

Right now, the company’s stock is 19.5% higher than it was at the start of 2022. It has also gained 29% since this time last year.

The post Atlas Arteria share price leaps 16% amid takeover speculation appeared first on The Motley Fool Australia.

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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 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 Fonterra Shareholders Fund (ASX: FSF) share price is surging higher, up 4.8% in early trade.

Fonterra shares closed yesterday at $2.75 and are currently trading for $2.88.

This comes as the dual-listed dairy cooperative announces a major share buyback.

What was the share buyback announcement?

Fonterra shares are leaping higher after the company reported it is earmarking up to $50 million for an on-market share buyback program. The buyback is set to start at the end of the month, on 30 June.

The company said the buyback could run for as long as 12 months, with Fonterra buying shares at market price.

During that time Fonterra said it “will continue to assess market conditions, its prevailing share price, available investment opportunities and all other relevant considerations”. Management retains the right to halt or cancel the program at any time.

The company will cancel all the shares its buys back. This will reduce the number of shares on issue, which should offer a tailwind for Fonterra stock.

Regulations limit the maximum number of shares the company can acquire to 5% of Fonterra’s shares that were on issue 12 months ago. That works out to just under 80.7 million shares. That number also includes the $300 million on-market buyback (the ‘Transitional Buyback’) Fonterra announced last year to help the transition to a Flexible Shareholding capital structure. That process is still pending.

Regarding the new program, management believes the stock is undervalued at current prices, driving its decision for the buyback.

“The Co-op considers the prevailing price, particularly since late April, has undervalued Fonterra shares, which is a key reason for announcing this buyback,” Fonterra chair Peter McBride said.

Fonterra share price snapshot

The Fonterra stock has struggled this year, down 19% since the opening bell on 4 January.

That compares to a year-to-date loss of 7% posted by the All Ordinaries Index (ASX: XAO).

At the current price, Fonterra shares pay a 5.8% trailing dividend yield, unfranked.

The post Fonterra share price surges on $50 million share buyback announcement appeared first on The Motley Fool Australia.

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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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On Wednesday morning, the BrainChip Holdings Ltd (ASX: BRN) share price is pushing higher.

At the time of writing, the artificial intelligence technology company’s shares are up 1% to $1.01.

Based on its shares outstanding, this means that BrainChip’s market capitalisation is now over $1.7 billion.

CEO tips market capitalisation to increase

While a market capitalisation of $1.7 billion for a company with next to no revenue seems ridiculous, particularly in the current environment, BrainChip’s CEO, Sean Hehir, feels it is justified. He also believes it can and should keep increasing.

In a recent interview with CommSec, Mr Hehir was asked about the company’s profitability and lofty market capitalisation.

He responded:

Do I think the market cap is fair? Or they say are you topped out? I think it is not even close.

The reason I say that is the [AI] market itself. The market is very, very big. And so we have got a lot of room to grow. So, I think the market cap is not even close to where it can and should be over time.

Mr Hehir did, however, shy away somewhat from the question about profitability. He instead focused on the company’s partnerships and said the company intends to establish more and make them “much deeper, more operational every single day to drive a lot of value.”

What about the long term?

Looking longer term, BrainChip’s CEO revealed that his aim is to build the company into the “de facto standard for edge AI for the entire world.”

Questioned on how the company can achieve this given the big budgets of its tech giant rivals, Mr Hehir said that he believes BrainChip’s small size means it is nimble and can react quickly. He also feels that its patent portfolio is strong and “very defensible.”

Time will ultimately tell if BrainChip is the real deal or just another tech wannabe that gets left behind by its big budgeted rivals. But with a market capitalisation approaching $2 billion and no sales to demonstrate that there’s a market for its Akida technology, the market certainly has high hopes.

The next 12 months are likely to be incredibly pivotal now it is in the commercialisation stage. If meaningful sales don’t materialise, the BrainChip share price could easily fall from grace. This makes it a very high risk option for investors and too spicy for my tastes.

The post BrainChip market cap is ‘not even close to where it can and should be’: CEO appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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.

Since coming on the scene, cryptocurrencies have become a huge part of the investing discussion, on both ends of the spectrum. There are enthusiasts who swear by the assets’ utility and potential, and then there are skeptics who wouldn’t touch crypto with a 50-foot pole. The one undeniable thing, though, is the increase in crypto’s popularity across the globe.

Here are two reasons you should invest in crypto and one reason you absolutely should not.

1. You can benefit from more diversification

Diversification is one of the key pillars of investing. You never want your portfolio to depend too much on too few single investments. You should aim to have diversification in industries, company size, and growth potential, as well as asset classes. While questionable at first, the growth of cryptos as an asset class has become so prevalent that the Securities and Exchange Commission (SEC) is now building out a 50-person Crypto Assets and Cyber Unit team to protect investors in the niche.

Although crypto should be a small part of your portfolio, if you’re looking to add some diversification to it, look no further. Ideally, you don’t want more than 5% of your portfolio in crypto. Your portfolio should be able to survive if you lose 5% for whatever reason. Losses bigger than that can affect you too much, especially given the extreme volatility of cryptocurrencies.

2. There’s a chance for hypergrowth

Crypto as a whole is still in its early stages. Bitcoin (CRYPTO: BTC) — the first and by far the most valuable crypto by market cap — was launched in January 2009. Since then, its value has soared. Should you expect to receive similar returns from investing in that token or others? Absolutely not. But, what you can expect is a chance at hypergrowth on your investments simply by the nature of how young the crypto space is.

The global crypto market was valued at over $1.78 trillion in 2021 and, a report published early this year by Research and Markets forecasts that it will reach over $32.4 trillion by 2027, experiencing a compound annual growth rate (CAGR) of 58.4% along the way. For perspective, the S&P 500’s CAGR has historically been around 10%.

By no means is that to say crypto makes for a better investment than the S&P 500 — it doesn’t — or that the two options are even comparable. Moreover, the projection could turn out to be incorrect. However, it does point out how much growth potential there is for crypto over a relatively short period. You can only benefit from that potential if you give yourself a chance. High risk, high reward.

Be aware of the risks if you’re nearing retirement

One situation in which you may want to avoid investing in cryptos is if you’re close to retirement. Most financial advisors suggest that people should begin shifting away from riskier investments and become more conservative about their portfolios at that point in their lives. The focus should be more on preserving the money you’ve made through the years than taking on risks to try and grow it. Unfortunately, risk and crypto go hand in hand.

Imagine having a large fraction of your portfolio in a cryptocurrency — one that plunges in value by more than half in a matter of months, as Bitcoin has since November 2021. If you’re a long way from retirement, that decline may not matter as much to you, because you have time on your side. You can wait for years for the asset’s value to recover. However, there’s no telling how long it might take to recover. If you’ll be retiring soon and will need to start drawing down on your portfolio to cover your living expenses, a big plunge in its overall value could be a problem. 

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

The post 2 reasons to invest in crypto — and 1 reason to steer clear appeared first on The Motley Fool Australia.

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Stefon Walters 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 Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. 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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It’s getting closer to the end of the 2022 financial year. Experts are considering whether some previous ASX share market darlings are compelling investments after all of the volatility this year.

Lower share prices mean that investors can now buy slices of businesses for a cheaper price.

While current uncertainty is weighing on the market, with things like supply chain difficulties and the flow-on effects of the Russian invasion of Ukraine, experts have identified some businesses that look like opportunities.

Audinate Group Ltd (ASX: AD8)

Audinate is one of the ASX shares that is well-liked by brokers. Broker UBS rates the business as a buy, with a price target of $9.85. That implies a possible rise of more than 35% over the next year.

The business developed Dante, an IP (internet protocol) networking solution that replaces traditional analogue cables with a single ethernet cable. It’s used by sectors like professional live sound, commercial installation, broadcast, public address, and recording industries.

The business has seen its share price crumble in 2022, dropping by around 20%.

However, the company’s recent trading update spoke of positive signs.

At the end of April 2022 it reported that demand for Dante products remained strong. So much so, it expects sales orders to be fulfilled throughout the rest of FY22 and FY23. The total backlog of sales orders has increased. And the company’s ability to fulfil orders is improving due to an increase in the supply of key chips.

Audinate recently said that trading conditions experienced in March and April (mentioned above) had continued in May. The ASX share was expecting revenue for FY22 to exceed US$30 million. However, it continues to manage a challenging supply chain environment.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle is a business that invests in funds management businesses. It helps them grow by allowing the fund manager to focus on the investing side of things.

The ASX share provides services like seed funds under management (FUM) and working capital, distribution and client services, compliance, finance, legal, technology and other business infrastructure.

The Pinnacle share price has dropped by over 50% since the start of 2022. Brokers believe this valuation represents good value for investors, including UBS with a price target of $12.65. That suggests a possible rise of more than 60%.

The broker thinks that despite the challenges facing the investment industry, the business looks attractive over the long term.

Its latest quarterly update for the three months to 31 March 2022 showed FUM of $91.4 billion. That’s an increase of 2.2% from $89.4 billion.

The ASX share is looking to add new asset classes and investment strategies to its portfolio, diversifying sources of revenue and helping further growth.

Pinnacle said that it’s prepared for, and seeking, further expansion opportunities. It’s committed to taking advantage of the “significant” offshore opportunity to evolve into a global multi-affiliate by exporting its model.

According to UBS, the Pinnacle share price is valued at 19x FY22’s estimated earnings.

The post Are these 2 compelling ASX shares buys in June 2022? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended AUDINATEGL FPO and PINNACLE FPO. The Motley Fool Australia has positions in and has recommended AUDINATEGL FPO and PINNACLE 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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Turbulent is a good word to describe how ASX lithium shares have been tracking over the last week.

Producers of the ‘white gold’ material – a necessity for the decarbonisation movement – tumbled last Wednesday.

But despite recent despair, Macquarie Group Ltd (ASX: MQG) Equities is still hopeful. There’s still a “material upside to lithium miners”, the broker said, courtesy of The Australian.

Let’s take a closer look at what the financial giant likes about ASX lithium shares following the sell-off.

Macquarie still backing ASX lithium shares

Today marks a week since ASX lithium shares spectacularly nosedived amid a bearish note out of Goldman Sachs, expectations a major Chinese electric vehicle (EV) manufacturer was taking its lithium needs into its own hands, and Argentina’s new reference price for lithium exports.

Liontown Resources Limited (ASX: LTR), Core Lithium Ltd (ASX: CXO), and Pilbara Minerals Ltd (ASX: PLS) were hardest hit. Their share prices plunged 18%, 20%, 22% respectively last Wednesday and haven’t fully rebounded yet.  

Other lithium shares Allkem Ltd (ASX: AKE), IGO Ltd (ASX: IGO), Mineral Resources Limited (ASX: MIN), and Sayona Mining Ltd (ASX: SYA) were similarly impacted. They slipped between 8% and 18% last Wednesday.

But the tumble isn’t the end of a green era for lithium shares, according to Macquarie.

It reportedly believes Argentina’s reference price of US$53,000 per tonne of lithium carbonate equivalent wasn’t a price cap. Instead, the broker understands it to be a way for the nation’s government to understand lithium prices and contract pricing

Meanwhile, Macquarie reportedly expects Chinese EV giant BYD’s proposed African lithium projects to face logistical challenges, slowing down their journey to production.

Finally, the broker reportedly said its favourite ASX lithium share – Pilbara Minerals – is factoring in realised lithium prices of approximately US$13,000 per tonne.

“This is 80% below current spot lithium carbonate prices in China”, Macquarie said, as quoted by Livewire. “[it’s also] equivalent to a flat spodumene … of US$950 [per tonne], 85% below the last BMX spot sale.”

The post Why Macquarie still sees ‘material upside’ for ASX lithium shares appeared first on The Motley Fool Australia.

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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 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 Boral Limited (ASX: BLD) share price is charging higher on Wednesday morning.

At the time of writing, the building products company’s shares are up 6% to $3.03..

Why is the Boral share price rising?

The Boral share price is lifting today after the company announced the appointment of its new CEO.

According to the release, Boral has made the controversial decision to name Vik Bansal as its new leader, effective on or before 5 December.

Last year, Mr Bansal stepped down from the role of CEO of waste management company Cleanaway Waste Management Ltd (ASX: CWY) amid a scandal which saw him accused of creating a culture of workplace bullying. This overshadowed an otherwise highly successful six years at Cleanaway.

Zlatko Todorcevski will remain in the CEO role until transition to Mr Bansal is completed.

‘The right leader’

Boral’s Chairman, Ryan Stokes, was pleased with the appointment of Mr Bansal. He said:

Vik is a seasoned leader with extensive experience, and has a track record of instilling discipline and efficiency in complex businesses to create value for all stakeholders. “He is the right leader to guide the Company into a new era. Vik has the passion, commitment and strategic leadership skills required to drive a performance orientated culture with a focus on productivity, stakeholders and leveraging Boral’s competitive advantages.

Mr Bansal said he was delighted to be appointed the leader of an “iconic” company. He commented:

Boral is an iconic and compelling business with great assets and a well-respected and motivated workforce. I am excited to be part of Boral’s next phase of creating value for all its stakeholders through a culture of safety, and focus on service, sustainability and simplification.

The post Boral share price charges higher amid controversial CEO appointment appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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