On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.3% to 7,112.5points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to storm higher

The Australian share market looks set for a very strong day on Wednesday following a stellar night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 67 points or 0.95% higher this morning. On Wall Street, the Dow Jones rose 1.35%, the S&P 500 climbed 2%, and the Nasdaq stormed 2.75% higher.

Pendal rated as a buy

The Pendal Group Ltd (ASX: PDL) share price could be good value according to analysts at Bell Potter. According to a note, the broker has retained its buy rating with an improved price target of $6.90. The broker believes Pendal’s half-year result and its recent takeover approach demonstrate how “undervalued asset managers have become.”

Oil prices fall

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult day after oil prices pulled back. According to Bloomberg, the WTI crude oil price is down 1.9% to US$112.05 a barrel and the Brent crude oil price has fallen 2.5% to US$111.36 a barrel. Hopes that additional Venezuelan supply could hit the market soon has put pressure on prices.

Champion Iron acquisition

The Champion Iron Ltd (ASX: CIA) share price will be on watch today after the iron ore miner announced a new acquisition. The company has signed a deal to acquire the Pointe Noire Iron Ore Pelletizing Facility located in Sept-Iles, Québec. In addition, Champion is in talks with a major international steelmaker to complete a feasibility study to evaluate the re-commissioning of the Pellet Plant and produce Direct Reduction Grade Pellets.

Gold price edges lower

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued day after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$1,813.2 an ounce. Strong US retail sales boosted the US dollar and weighed on gold.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• 3 ASX shares you might be surprised to learn pay dividends
• Is the Telstra share price cheap compared to other ASX 200 shares?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 2 ASX 200 shares smashing multi-year highs 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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If you’re looking for an easy way to diversify your portfolio, then exchange traded funds (ETFs) could be the way to do it.

But which ETFs could be top options right now? Listed below are three excellent ETFs that could be worth considering as long term investments:

BetaShares Crypto Innovators ETF (ASX: CRYP)

The first ETF to look at is the BetaShares Crypto Innovators ETF. It could be an ETF to consider if you believe the recent crypto selloff is a minor blip and nothing structural. This fund gives investors exposure to the crypto economy through a portfolio of companies that are at the forefront of the industry. This includes crypto trading platforms such as Coinbase and crypto mining and mining equipment firms such as Core Scientific and Riot Blockchain.

BetaShares Global Energy Companies ETF (ASX: FUEL)

Another ETF to look at is the BetaShares Global Energy Companies ETF. Unlike the crypto market, the energy market is absolutely thriving in 2022. So, for investors that are wanting to gain exposure to rising oil prices, this ETF could be a great way to do. The BetaShares Global Energy Companies ETF allows investors to own a slice of some of the biggest energy companies in the world. This includes the likes of BP, Chevron, ExxonMobil, and Royal Dutch Shell.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF for investors to look at is the Vanguard MSCI Index International Shares ETF. This ETF provides investors with exposure to a whopping ~1,500 of the world’s largest listed companies. This could make it a top option for investors seeking to diversify their portfolio. Among the companies you’ll be investing in are giants such as Amazon, Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa.

The post 3 top ETFs for ASX investors to buy now appeared first on The Motley Fool Australia.

More reading

• VGS: Were you better off buying the S&P 500 ETF?
• 2 high quality ETFs for ASX investors to buy after the market meltdown
• 3 fantastic ETFs for ASX investors to buy this week
• 3 high quality ETFs for ASX investors to buy this month
• These 2 ETFs could help to protect ASX investors against inflation

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 BetaShares Global Energy Companies ETF – Currency Hedged, Betashares Crypto Innovators ETF, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. 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 Bubs Australia Ltd (ASX: BUB) share price was a strong performer on Tuesday.

The infant formula company’s shares ended the day 16% higher at 43 cents.

Why did the Bubs share price pop?

The Bubs share price raced higher on Tuesday despite there being no news out of the company. However, some industry news may have given its shares a boost.

Overnight the US Food and Drug Administration (FDA) announced important updates on its ongoing work to increase the supply and availability of infant formula in the country.

US FDA Commissioner, Robert M. Califf M.D., commented:

We recognize the hardships that parents and caregivers have faced in obtaining infant formula and the FDA is focused on boosting the availability of the country’s supply of these products, including new steps regarding importation. We are also taking a look at the supply of infant formulas developed by manufacturers across the country and around the world to determine if a reallocation of their distribution can be made to help get the right product to the right place, at the right time.

Investors may believe this bodes well for Bubs, which launched its Aussie Bubs brand formula range on a number of ecommerce platforms in the country late last year. This has since been boosted by a presence in a number of supermarkets.

With its third-quarter update, Bubs Founder and CEO, Kristy Carr, provided an update on its footprint in the US. She said:

Our USA bricks and mortar retail footprint continues to expand with secured ranging of Aussie Bubs Goat and Grass Fed Toddler Formula in 254 Smart & Final supermarkets in Southern California, and 130 Buy Buy Baby stores spread across 37 states. These new listings complement our existing retail presence in 177 Ralph’s supermarkets and online on Walmart.com, Amazon.com and Thrive.com.

Time will tell if Bubs benefits from these shortages but investors seem to be betting on it doing so.

The post Why did the Bubs share price jump 16% today? appeared first on The Motley Fool Australia.

More reading

• Which is the better beaten-up buy, Bubs or A2 Milk shares?
• Bubs share price sinks 29% in a month. Top broker tips 60% upside
• 2 great ASX growth shares to buy in May 2022: experts
• Bubs share price sinks 7% despite quarter of ‘exceptional growth’

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BUBS AUST 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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Today, the S&P/ASX 200 Index (ASX: XJO) captured its third consecutive day in the green despite Wall Street getting the cold shoulder from investors. At the end of the session, the benchmark index finished 0.27% higher at 7,112.5 points.

While whispers of a potential higher rate increase in June circulated the market, investors were unnerved as they fired their money into the more defensive sectors on Tuesday. Getting the most attention were energy companies, though, battery material miners fared favourably as well.

Unfortunately, market participants were less keen on healthcare, real estate, and tech today. These are the same sectors that we have previously watched weaken on news of higher rates.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Core Lithium Ltd (ASX: CXO) was the biggest gainer today. Shares in the lithium project developer surged 9.28% following an update on the company’s progress towards bringing the Finniss Lithium Project online. Find out more about Core Lithium here.

The next best performing ASX share across the market today was Lynas Rare Earths Ltd (ASX: LYC). The rare earths producer’s share price firmed by 6.56% today as demand for rare earth oxides continues to hold strong. Uncover the latest Lynas Rare Earths details here.

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

ASX-listed company	Share price	Price change
Core Lithium Ltd (ASX: CXO)	$1.295	9.28%
Lynas Rare Earths Ltd (ASX: LYC)	$9.42	6.56%
Beach Energy Ltd (ASX: BPT)	$1.735	6.12%
Whitehaven Coal Ltd (ASX: WHC)	$5.20	5.91%
Mineral Resources Ltd (ASX: MIN)	$58.16	5.71%
Allkem Ltd (ASX: AKE)	$12.06	5.51%
Coronado Global Resources Inc (ASX: CRN)	$2.29	5.05%
Pilbara Minerals Ltd (ASX: PLS)	$2.73	5.00%
Sandfire Resources Ltd (ASX: SFR)	$5.15	4.04%
New Hope Corporation Ltd (ASX: NHC)	$3.88	4.02%

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

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

More reading

• 3 ASX shares you might be surprised to learn pay dividends
• Lighting up the market: ASX lithium stocks surge again on Tuesday
• Is the Telstra share price cheap compared to other ASX 200 shares?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 2 ASX 200 shares smashing multi-year highs today

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

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The S&P/ASX 200 Materials Index (ASX: XMJ) has climbed 0.25% year to date, but three ASX mining shares are surging higher.

Let’s take a look at which three ASX companies — all involved in developing minerals used in the manufacture of electric vehicles — are having a good year.

Arafura Resources Limited (ARU)

Arafura Resources shares have soared 67% year to date. The company is developing rare earths at the Nolans project in the Northern Territory. One major piece of news that drove the ASX mining share higher in March was a $30 million grant from the Federal Government. The grant will help fund a $90.8 million separation plant at the Nolans project.

Commenting on the news, managing director Gavin Lockyer said:

This grant is an exciting milestone for Arafura, recognising the strategic significance of the Nolans Project and its place in the future of critical minerals processing in Australia.

The company is hoping to supply about 5% of the world’s NeodymiumPraseodymium (NdPr) demand from the Nolans project. Rare earths are a crucial component in the manufacture of electric vehicles (EV).

In more positive news for the company, Arafura was listed on the  All Ordinaries Index (ASX: XAO) in early March.

Green Technology Metals Ltd (GT1)

The Green Technology Metals share price has rocketed 58% year to date. The company is working on lithium projects at Root Lake, Seymour Lake, and Wisa Lake.

In major news for the ASX mining share in late April, Green Technology Metals announced major US lithium player Lithium Americas Corp (NYSE: LAC) will invest US$10 million in the company.

Drilling results in early April may have also helped the company’s share price. Drilling at the Seymour lithium project in Ontario, Canada intercepted thick, high-grade lithium oxide.

Group 6 Metals Ltd (G6M)

The Group 6 Metals share price has surged 83% year to date. The company is redeveloping the Dolphin tungsten mine in Tasmania to explore tungsten. This is another rare metal that can be used in lithium-ion batteries.

This ASX mining share has recently received attention from the United States. Chairman Johann Jacobs has been in conversations with the US embassy lately about the mine. China has a global dominance in the tungsten market, but Group 6 provides a potentially new supply chain.

Commenting on the meetings with the US embassy, Jacobs said:

At this stage, they don’t have any financial interest, but they certainly are very keen to see us progress and develop the mine because it’s another supply chain… from a friendly nation.

In February, Group 6 reiterated its commitment to developing the Dolphin mine, describing it as the “highest-grade tungsten deposit of significant size in the Western World”.

The post Battery-powered! 3 ASX mining shares up more than 50% in 2022 appeared first on The Motley Fool Australia.

More reading

• 3 critical minerals you might not have heard of (and the ASX shares that have surged because of them)
• This ASX battery metals share rocketed 20% today. What’s going on?
• Arafura Resources share price extends gains on Friday, up 100% since March
• Green Technology Metals share price lifts on Lithium Americas investment
• Why is the Green Technology Metals share price on ice today?

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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Shares of Insurance Australia Group Ltd (ASX: IAG) have spiked over 10% this year and finished trading at $4.68 apiece on Tuesday.

IAG’s share price chart over the past 6 months resembles a mountainous range with high peaks and low valleys, more than one of a stock price.

Investors have pushed the IAG share price around as if it were a pinball between two planks of wood during that time, with prices ranging as low as $4.24 to as high as $4.92 apiece.

Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFJ) has held onto a 1.24% gain this year to date, despite a recent consolidation.

How does the IAG share price stack up?

According to data provided from Bloomberg, there are a number of analysts providing ratings on IAG shares.

From this list, 58% of analyst urge their clients to buy IAG shares right now, whereas 25% are suggesting to hold.

The remaining 16% – just two analysts – urge their clients to sell or close out their positions if holding IAG shares.

With the IAG share price currently resting at $4.68, it appears as if the consensus has plenty more upside yet to be baked in, assigning a 12 month average price target of $5.14 per share, Bloomberg says.

A bit more on IAG’s analyst ratings

This price target has actually crept down over the last two years, despite the number of buy calls increasing in the same time.

It has wiggled down from around $6.40 per share in May 2020, the consensus price target on IAG shares. However, it has hovered above the market price consistently in that time.

In terms of those that are above consensus estimates, each of Credit Suisse, JP Morgan, Jarden, Barrenjoey Markets and Citi reckon IAG could spike above the $5.14 mark.

Meanwhile, Macquarie, Barclay Pearce and Morgan Stanley value IAG below consensus, with analysts at Morgan Stanley slapping a sell rating on the stock in doing so.

Net-net, if going by consensus data, then it might appear that IAG is undervalued trading around 10% below the average price target from analysts covering the stock.

However, with any number of determinants of fair value not discussed in this report, that is ultimately for the market to decide.

In the last 12 months, the IAG share price has clipped a 3% loss despite its outsized return this year to date.

The post How does the IAG share price stack up against analyst ratings? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• What is the dividend yield on IAG shares in May?
• The IAG share price has gained 6% in a month. Is this just the beginning?
• 4 ‘defensive growth’ ASX shares to buy in turbulent times: Wilsons
• Does IAG have a dividend reinvestment plan?

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Insurance Australia 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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When it comes to ASX dividend shares, a few names stand out. If you asked a randomly selected investor to name three ASX dividend shares, chances are you will get a bank, a miner and maybe Telstra Corporation Ltd (ASX: TLS) or Woolworths Group Ltd (ASX: WOW).

On one level, this is fair enough. Most of the ASX 200 blue chip miners have spent the past year or two doling out record dividend payments. And most of the ASX banks like Commonwealth Bank of Australia (ASX: CBA) have been paying dividends for decades.

But the ASX is full of dividend-paying shares, making an income investors’ universe far larger than a collection of banks and miners. So let’s check out three ASX dividend shares that you might not even realise pay dividend income to their owners.

3 ASX dividend shares you might not know about

Harvey Norman Holdings Limited (ASX: HVN)

Chances are you’ve heard of the hardly normal Harvey Norman. This famous Aussie retailer has been around for decades. But what you might now know is that Harvey Norman shares are pretty consistent when it comes to dividends.

This company hasn’t missed a dividend payment in over a decade. Indeed, it has recently paid out some of the largest dividends in its history, with investors enjoying the payment of a 20 cents per share fully franked interim dividend earlier this month. Over the past year, Harvey Norman’s dividends give its shares a fully franked trailing yield of 7.7%.

JB Hi-Fi Ltd (ASX: JBH)

JB Hi-Fi is another famous Australian retail name. You’ve probably seen its yellow branding and advertising pop up regularly. But what you might not have seen yet is this company’s own impressive history when it comes to funding dividends.

The company only started doling out the cash in 2014. But since then, JB has grown its payments from 29 cents a share to the $2.87 investors received last year. Like Harvey Norman, JB’s dividends usually come fully franked as well. At current pricing, JB Hi-Fi offers a trailing dividend yield of 5.67%.

Super Retail Group Ltd (ASX: SUL)

Unlike the other two names on this list, Super Retail Group is not a company with widespread name recognition. However, it’s a different story with the businesses and brands this company owns. They include Supercheap Auto, BCF, Rebel, and Macpac. Ringing a bell now?

Super Retail is a company that has a strong, if recently rather erratic, history of paying its investors large dividends. Between 2009 and 2019, Super Retail raised its annual dividend every year bar one. 2020 saw COVID take a big toll on investors’ incomes, with the company only paying out 19.5 cents per share in contrast to the 50 cents investors enjoyed in 2019. However, the company arguably made it up to shareholders last year when it treated investors to 88 cents per share in dividends. At current pricing, Super Retail Group has a trailing and fully franked dividend yield of 8.28%.

The post 3 ASX shares you might be surprised to learn pay dividends appeared first on The Motley Fool Australia.

More reading

• Is the Telstra share price cheap compared to other ASX 200 shares?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 2 ASX 200 shares smashing multi-year highs today
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
• Oz Minerals share price rallies on potential $200m acquisition

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman Holdings Ltd. and Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd., Super Retail Group Limited, and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Shares in AGL Energy Limited (ASX: AGL) are among the most traded on the market on Tuesday, leading media to point to Mike Cannon-Brookes once more.

A 5% stake in the company – worth just under $300 million – was reportedly traded through JPMorgan on Tuesday.

The Atlassian Corporation (NASDAQ: TEAM) CEO and activist against the company’s demerger might be the face behind it.

The tech billionaire also sent a letter to AGL shareholders earlier today, urging them to vote against the plan.

As of Tuesday’s close, the AGL share price is $8.62, 2.25% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) finished 0.27% higher.

Let’s take a closer look at the latest on Cannon-Brookes’ battle to block AGL’s planned split.

Is Cannon-Brookes behind a major trade of AGL shares?

Cannon-Brookes has stepped up the fight against AGL’s demerger as he reportedly prepares to march into the voting booth.

The Atlassian boss is exchanging AGL derivatives – which helped his investment vehicle, Grok Ventures, pick up an 11.28% stake earlier this month – for physical shares in the company, reports the Australian Financial Review.

It’s reportedly a swap that needs to happen before the tech mogul can vote on the demerger at AGL’s upcoming scheme meeting.

Cannon-Brookes makes no secret of his plan to vote his stake against the split that aims to see AGL Energy become energy retailer, AGL Australian, and energy generator, Accel Energy.

And today he is urging fellow shareholders to do the same on 15 June.

In a letter sent to shareholders, AGL’s new major investor dubbed the demerger “deeply flawed” and “globally irresponsible”:

When a worker lit Sydney’s first gas lamp in 1841, AGL Energy was a company excited to embrace the future – not one that was afraid of it.

Today, after overseeing a share price decline of nearly 70% over 5 years, the AGL Energy board, which owns less than 0.02% of the company, is asking us to vote on whether to split AGL Energy into two companies …

If the demerger is voted down … we intend to work with the board to listen to shareholders and set a more ambitious plan for the company. A plan that attracts capital and customers. A plan that ensures that AGL Energy’s workers and communities are beneficiaries of this economic opportunity. One that delivers dividends and shareholder value.

Mike Cannon-Brookes in a letter to AGL shareholders

Cannon-Brookes claims demerging will cost shareholders approximately $400 million to $500 million.

He also said AGL Energy hasn’t invested a dime in the direct development of renewable energy generation over the last five years.

The post Why have AGL shares been getting so much love on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• AGL share price bounces back amid latest demerger opposition
• How dependant on coal closure is the AGL share price?
• AGL share price lifts despite Greenpeace accusing leadership of being ‘caught with their pants down’
• Is Cannon-Brookes getting ready to pitch a third takeover bid for AGL shares?

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. 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 Atlassian. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been another turbulent month for the Zip Co Ltd (ASX: ZIP) share price, shedding 25% over the past four weeks.

At the close of trading on Tuesday, the buy now, pay later (BNPL) company’s shares were fetching 92 cents, down 3.16% for the day. This means its shares are trading at multi-year lows.

What’s been happening with Zip?

It’s been a hard pill to swallow for investors as they have watched their Zip holdings plummet in value.

The company reported top-line growth across its global operating markets for the third quarter of FY22 on April 21. However, its credit losses which increased over the quarter did not resonate well with shareholders.

During this time the company’s shares slumped for five consecutive trading days, amounting to a fall of almost 20%.

Furthermore, the ASX was heavily sold off earlier this month which continued the Zip share price onslaught.

The company acknowledged a shift in the external environment, arguably quicker and more severe than first forecasted.

In response, management refined its strategy but it is still too early to tell if this will pay off.

Not helping matters is the fall of the S&P/ASX All Technology Index (ASX: XTX), which has dropped 30% year to date.

Additionally, the Reserve Bank of Australia raising interest rates for the first time since 2010 doesn’t bode well for Zipsters.

What this means is that consumers are less likely to spend on discretionary items when interest rates are picking up.

The cost of debt such as credit cards as well as personal loans will require extra payments, affecting consumer spending habits.

How has the Zip share price performed?

Following today’s losses, the Zip share price has dived 86% over the past 12 months.

It’s a long way from when the company’s shares reached an all-time high of $14.53 in early 2021.

Based on today’s prices, Zip presides a market capitalisation of approximately $628.85 million.

The post Why is the Zip share price down almost 25% in a month? appeared first on The Motley Fool Australia.

More reading

• Why did the Zip share price just pop then drop?
• Blast off! Why is the Zip share price zooming on Friday?
• Zip share price tumbles 5% to another multi-year low
• ASX 200 tech shares are staging a remarkable recovery today
• It’s happened: Zip share price tumbles below $1 for first time since 2018

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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Once again ASX lithium stocks amped up their shareholders as the sector fired off another green day.

Taking a glance at the market, shares in some of the biggest lithium players such as Mineral Resources Limited (ASX: MIN) and Pilbara Minerals Ltd (ASX: PLS) finished up 5.71% and 5% respectively. Likewise, the slightly smaller end of town posted commendable gains. For example, Core Lithium Ltd (ASX: CXO) and Sayona Mining Ltd (ASX: SYA) closed 9.28% and 5.88% higher.

But what’s fuelling the excitement?

Checking in on ASX lithium stocks

To start with a baseline reading, the S&P/ASX 200 Index (ASX: XJO) inched 0.27% ahead on Tuesday. Clearly, there was something going on for ASX lithium stocks to be 5% or stronger while the rest of the market had an average day.

For a couple of these companies, the rally can be explained by announcements made to the market today that were well received by investors.

For starters, Pilbara Minerals published two notable news items today. This included word of a $20 million government grant alongside Calix Ltd (ASX: CXL) to further develop a decarbonised hard-rock lithium supply chain. Secondly, the lithium producer agreed to sell a base metal exploration tenement for $300,000 plus 2.5% royalties.

Another ASX lithium stock making waves today was Core Lithium. The company released a development update this morning regarding its Finniss Lithium Project located near Darwin.

According to the release, it is anticipating the commencement of ore crushing next month. As such, Core remains on track for production to commence by the end of the year. The development marks an important step in the right direction for the pre-revenue mining company.

As for the remaining ASX lithium stocks, it appears a rising tide lifted all boats. Prices of the all-important battery commodity have remained elevated with forecasts still indicating a future deficit in supply.

The post Lighting up the market: ASX lithium stocks surge again on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why BlueScope, OFX, Pilbara Minerals, and Step One shares are pushing higher
• Here’s why the Core Lithium share price is racing higher today
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
• Why is the Pilbara Minerals share price climbing today?

Motley Fool contributor Mitchell Lawler 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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