The S&P/ASX 200 Index (ASX: XJO) was out of form last week and edged into the red. The benchmark index fell 0.2% over the period to end at 7,478 points.

While a number of shares fell with the market, some fell more than others. Here’s why these were the worst performing ASX 200 shares last week:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price was the worst performer on the ASX 200 last week with a 13.8% decline. This appears to have been driven by profit taking from traders after some major gains in recent weeks. For the same reason, Liontown Resources Limited (ASX: LTR) and Pilbara Minerals Ltd (ASX: PLS) shares recorded double-digit declines over the five days.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was out of form and sank 10.9% over the period. This may have been driven by weakness among battery material shares such as those above. In addition, Iluka Resources Ltd (ASX: ILU) announced that it will go ahead with phase three of the Eneabba Rare Earths Refinery in Western Australia. Iluka’s refinery will compete with Lynas and produce high value rare earth oxides neodymium, praseodymium, dysprosium and terbium.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price wasn’t far behind with a 10.8% decline during the week. All of this decline came on Friday following the release of the fund manager’s latest funds under management (FUM) update. According to the release, Platinum’s FUM fell 7.9% or $1.7 billion in March to $19.442 billion. This was despite only recording net outflows of $222 million and the ASX 200 rising over 6% during the month.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price was a poor performer again last week and dropped a further 10.5%. This was despite the sports betting company announcing the launch of iGaming and sportsbook operations in Ontario, Canada. This positive news appears to have been offset by negative sentiment in the industry, which led to many of PointsBet’s global peers tumbling lower last week as well.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• These were the best performers on the ASX 200 last week
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Bond yields bounce past 3% for the first time since 2015. Here’s how the ASX 200 is responding
• Here’s why this ASX 200 share just dived 16% to an all-time low

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. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Does the BetaShares Nasdaq 100 ETF (ASX: NDQ) pay dividends? Good question. NDQ is a popular exchange-traded fund (ETF) here on the ASX. It is a rather unique fund in that it is the only ASX ETF available if an investor wants pure exposure to the NASDAQ-100 (NASDAQ: NDX).

The Nasdaq is the US exchange famous for hosting almost all of the US’s most well-known tech shares. You’ll find everything from Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Amazon.com Inc (NASDAQ: AMZN) to Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL), Tesla Inc (NASDAQ: TSLA) and Netflix Inc (NASDAQ: NFLX) on the Nasdaq.

Thus, many ASX investors like to invest in NDQ to get an all-in-one investment that covers most of the US tech sector.

But does an ETF that covers the Nasdaq 100 like the one from BetaShares pay dividends?

Is the BetaShares Nasdaq 100 ETF a dividend payer?

For an ETF to pay dividend distributions, it usually needs to hold dividend shares itself in its underlying portfolio. As it happens, the Nasdaq 100 Index holds many such shares that consistently pay out dividends. As such, NDQ also does.

US tech shares don’t exactly have a reputation as strong dividend payers. This is, to some extent, fair. Many US tech shares, including Amazon, Tesla, Netflix, and Alphabet, have never paid a dividend.

However, quite a few of NDQ’s top holdings are dividend payers. Apple and Microsoft both dole out quarterly dividends. NVIDIA Corporation (NASDAQ: NVDA), another top holding in NDQ’s portfolio, is also a dividend share. As are Costco and Intel. PepsiCo. Yes, the company behind Pepsi-Cola is also a Nasdaq share and has been paying a dividend that has increased every year for the past 49 years. If PepsiCo hits a 50-year streak, it will become a fabled dividend king, one of the most exclusive stock market clubs in the world.

So yes, NDQ is a dividend distribution-paying ETF. But to what extent?

Well, the BetaShares Nasdaq 100 ETF usually pays out a dividend distribution every six months. According to the provider, this ETF currently (as of 31 March) has a trailing distribution yield of 3.7%. Since NDQ holds no ASX shares, no franking credits come attached.

NDQ units have had a rough 2022 thus far, hit by both market volatility and a rising Australian dollar. This ETF has lost 15% year to date, but remains up by almost 4% over the past 12 months. Over the past five years, the ETF has given investors a 147% return.

The post Does the Betashares Nasdaq 100 ETF pay dividends? appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in April 2022
• Here are 4 popular ETFs for ASX investors to check out
• Are these 2 ASX tech shares excellent buys right now?
• 3 top international ETFs for ASX investors to look at this month

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Alphabet (A shares), Amazon, Apple, Costco Wholesale, Intel, Microsoft, Nvidia, PepsiCo Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Amazon, Apple, BETANASDAQ ETF UNITS, Costco Wholesale, Intel, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alphabet (C shares) and has recommended the following options: long January 2023 $57.50 calls on Intel, long March 2023 $120 calls on Apple, short January 2023 $57.50 puts on Intel, and short March 2023 $130 calls on Apple. The Motley Fool Australia owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Netflix, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Although the S&P/ASX 200 Index (ASX: XJO) had a positive end to the week, it wasn’t enough to take it into positive territory. The benchmark index fell 0.2% over the period to end at 7,478 points.

Fortunately, not all shares dropped with the market. Here’s why these were the best performing ASX 200 shares last week:

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price was the best performer on the ASX 200 last week with a 24.3% gain. This was driven by the release of the fund manager’s latest funds under management (FUM) update. While Magellan reported another $1.1 billion of net fund outflows for the period between 11 March and 31 March, this was a big improvement on recent trends. And thanks to favourable market movements, Magellan’s total FUM actually increased by $0.9 billion despite these outflows.

Pendal Group Ltd (ASX: PDL)

The Pendal share price wasn’t too far behind with a 17.6% gain. The catalyst for this was news that rival Perpetual Limited (ASX: PPT) has made a takeover offer. According to the release, Perpetual put forward a $6.23 per share scrip and cash takeover proposal to acquire the fund manager. This valued Pendal at approximately $2.4 billion.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price was on form and charged 12.3% higher. This followed news that the mining and mining services company will increase its lithium production in response to “unprecedented demand.” This went down well with analysts at Bell Potter, which responded by retaining their buy rating and lifting their price target on the company’s shares by 21% to $74.35.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price was a positive performer and raced 12.3% higher. Paladin and other uranium shares were charging higher on Friday after uranium prices hit a decade high. This was driven by sanctions on Russia and news that the UK is planning to build up to eight nuclear reactors.

The post These were the best performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Magellan share price dips as Macquarie tips further outflows
• Bond yields bounce past 3% for the first time since 2015. Here’s how the ASX 200 is responding
• Why are ASX uranium shares having such a stellar end to the week?

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 Bruce Jackson.

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Cryptos like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) continue to eke their way into mainstream acceptance.

While Australia hasn’t gone full tilt like El Salvador, where Bitcoin is legal tender, an increasing number of merchants are enabling customers to pay with Bitcoin, Ethereum, and other leading cryptos.

Yet when it comes to big ticket items, like Porsches or other luxury cars, Aussies have been forced to pay with good old fashioned fiat currency.

Until now.

How to buy your Porsche with Bitcoin

Whether your crypto wallet is virtually overflowing with Bitcoin, Ethereum or any of 30 some other cryptos, you can now swap those tokens for a luxury car at Melbourne-based Dutton Garage.

Yesterday, cryptocurrency exchange CoinSpot announced it was partnering with the luxury car retailer to enable Dutton Garage customers to buy vehicles with a wide range of cryptos.

You can choose to pay for your entire Porsche 911 with Bitcoin, or pay part in Aussie dollars and the rest in the cryptos of your choice.

Commenting on the move, CoinSpot chief product officer Gary Howells said:

As Australians continue to look for more ways to find value in their crypto investments, CoinSpot’s partnership with Dutton Garage symbolises our commitment to expanding the utility of crypto…

Increasing crypto’s utility is the key to driving mass adoption of what we believe is the future of finance. This partnership is only the beginning of CoinSpot’s ability to facilitate transactions within the luxury goods market.

Addressing the company’s acceptance of Bitcoin, Dutton Group chief technology officer Juv Jayaram added, “Working with CoinSpot has enabled our customers to access their crypto investments and transact with us in a seamless and transparent manner.”

How have the two top cryptos performed this year?

While inflation may be nibbling away at your cash holdings, the Aussie dollar has held up better than Bitcoin and Ethereum this year.

Bitcoin, the world’s biggest token by market cap, is down 8% since 1 January while the Ethereum price has lost 13%.

Of course, once you drive your brand new, crypto purchased Porsche off the lot, it’s likely to lose value too. At least initially.

The post Fancy buying a Porsche with Bitcoin or Ethereum? Here’s how you can appeared first on The Motley Fool Australia.

More reading

• Why Bitcoin, Ethereum, and Dogecoin are singing the blues today
• Bitcoin price tumbles overnight. What can crypto investors expect next in 2022?
• Own CBA shares? Here’s why the bank’s crypto rollout is facing delays
• How these top cryptos stacked up against Bitcoin and Ethereum in March
• Why Bitcoin, Ethereum, Dogecoin, and Shiba Inu are down today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Woolworths Group Ltd (ASX: WOW) share price continued its upward trajectory for the month of March.

Its shares made a stunning turnaround when compared to the earlier months of 2022, surging by 5% in March.

In contrast, January led Woolworths shares on a decline of almost 10%, with February registering a mediocre gain of 3%.

What’s going on with Woolworths lately?

While the company hasn’t released any market-sensitive announcements since its half year results, investors appear confident in the outlook.

Previously, the group stated that the financial performance for H1 FY22 was materially impacted by the COVID-19 pandemic.

And while the company experienced strong sales growth for continuing operations, this was offset by $239 million of COVID costs. This was due to the outbreak at Woolworths’ stores and distribution centres from late last year to early 2022.

Notably, Woolworths shelves have been laid bare in stores across the country as a result of the staff shortages. This resulted in about 50% of delayed deliveries for major product lines.

However, with COVID-19 levels subsiding, this means that the group’s pandemic costs could in turn fall.

In addition, supply issues are likely to be resolved, with product limits removed and supermarket shelves stacked back to full again.

Management noted in the results that the first 7 weeks of 2022 led Australian food sales to increase by 5%.

Furthermore, assuming a normal operating environment during Q3, the company is forecasting an improved financial performance in the second half.

Is this a buying opportunity?

Since reporting its financial scorecard results, a number of brokers have weighed in on the Woolworths share price.

The team at Citi raised its price target by 3.3% to $40.30 for the retail conglomerate’s shares. This implies a potential upside of around 7% from where it trades today.

On the other hand, Macquarie analysts slashed Woolworths shares by 4.5% to $38.20 apiece. It appears that the broker thinks that the company’s shares price is almost fully valued.

Woolworths share price snapshot

It’s been a rollercoaster ride for Woolworths shares over the last 12 months, posting a small gain of around 2.5%.

Woolworths has a price-to-earnings (P/E) ratio of 5.76 and commands a market capitalisation of roughly $45.82 billion.

The post Price check: Why did the Woolworths share price push 5% higher in March? appeared first on The Motley Fool Australia.

More reading

• ASX market beater? Here’s how Coles shares performed during March
• Are Woolworths shares positioned for ‘a long-term, post-COVID trend?’
• Are Woolworths shares worth buying for their defensive properties?
• What’s the outlook for the Woolworths share price in April?
• Humans don’t change: Expert names 2 ASX shares that exploit our urges

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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) had an extremely volatile start to 2022. Over the three months ending 31 March, the ASX 200 seesawed around but still managed to eke out a modest gain of 0.7%. But let’s dig deeper into one of ASX’s most prominent blue-chip shares, Telstra Corporation Ltd (ASX: TLS). 

Telstra is of course the giant telecommunications company that dominates both mobile and fixed-line communication services here in Australia. It has recently gained attention for its portfolio of valuable infrastructure assets, such as towers and cabling. As well as its expanding international portfolio of assets.

So how did Telstra fare in the March quarter?

Well the ASX 200 telco started the year at a share price of $4.18. But by the end of March, Telstra shares had fallen to $3.96. That’s a rather hefty drop of 5.26%.

Telstra did trade ex-dividend during this period though. So even though investors received the company’s interim dividend one day after the quarter ended (on 1 April), we could still include this in Telstra’s returns. Since its 8 cents per share payment was worth a yield of roughly 2%, that blunts Telstra’s disappointing performance over the March quarter. 

But even so, it was still a market-trailing performance from this telco over the three months to 31 March.

Is the Telstra share price a buy today? 

So what’s next for this company? After this lacklustre performance over the first few months of 2022, could the Telstra share price be a buy today?

Well, one broker who thinks so is Morgans. As we covered earlier this month, Morgans has recently reaffirmed an add rating on the Telstra share price, replete with a 12-month share price target of $4.55. That implies a potential upside over the next year of almost 14%. 

Morgans reckons the Telstra share price is currently undervalued and anticipates the telco will keep its current annual dividend of 16 cents per share in place for at least the next year or two.

No doubt shareholders will be happy to accept that assessment.

At the latest Telstra share price, this ASX 200 telco has a market capitalisation of $45.84 billion, with a dividend yield of 4%.  

The post Here’s how the Telstra share price performed last quarter appeared first on The Motley Fool Australia.

More reading

• Could April be a good month for the Telstra share price?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 2 ASX dividend shares analysts have named as buys
• The Telstra dividend is being paid today. Here’s what you need to know
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Sebastian Bowen owns Telstra 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 owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in BHP Group Ltd (ASX: BHP) inched higher on Friday amid reports that the company has got the green light for its planned merger with Woodside Petroleum Limited (ASX: WPL).

Today BHP released an update noting the findings of an independent expert’s report, with the auditor – KPMG in this case – concluding the deal is in the best interests of shareholders.

“BHP and Woodside Petroleum entered into a share sale agreement (SSA) for the merger of BHP’s oil and gas portfolio with Woodside by an all-stock merger on 22 November 2021,” the release noted today.

“Woodside has also released the Independent Expert’s Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal”.

Fair is fair

Independent third-party KPMG commented on its findings and was satisfied the merger valued Woodside at a fair price range.

“We have assessed the full underlying value of Woodside as a standalone entity to be in the range of US$16,978 million to US$19,424 million, which equates to an assessed value per Woodside share of between A$23.09 and A$26.429,” it remarked.

“We have also considered that based on our assessment of the full underlying value of Woodside and BHP Petroleum as standalone entities, the aggregate 52% interest that Woodside Shareholders will hold in the Merged Group is broadly consistent with Woodside’s contribution to the Merged Group,” the report went on to say.

“Based on these measures, the Proposed Transaction is, in our opinion, fair to Woodside Shareholders.”

BHP explains that the merger is on track and is set for completion on 1 June, contingent on approval from Woodside shareholders.

As a part of the merger, the newly-formed entity will gain access to additional markets, potentially adding further liquidity and investment interest.

“Woodside will retain its primary listing on the ASX and is seeking a standard listing on the LSE and a sponsored Level III ADR program on the NYSE from completion of the Merger,” BHP commented.

“A share sale facility will be in place for eligible small BHP shareholders who elect to participate, and for shareholders who are ineligible to receive Woodside Shares.”

Synergies are paramount

Providing the merger goes ahead unscathed, both players would synergise costs and revenue streams to the tune of $400 million per annum.

In the effort to build a high margin oil portfolio, long life LNG assets, and the financial health to withstand the energy ‘transition’, value is clear to see when scrutinising the deal – on paper.

“The case for the proposed merger is compelling, bringing together the best of both organisations to create a global independent energy company with the scale, diversity and resilience to create value for shareholders and increased ability to navigate the energy transition,” Woodside commented.

“It will provide the financial strength to fund planned developments in the near term and investment in new energy opportunities and the Woodside Board strongly expects it to support shareholder returns through the cycle.”

The Woodside Board considers that the Merged Group will have a portfolio of complementary, high-margin oil and long-life conventional gas assets in predominantly OECD countries, expected to generate the financial strength and resilience to help Woodside to supply the energy needed for global growth and development through the energy transition.

One contentious issue surrounding the merger is how each company intends to meet its climate reduction targets and retain commitments to net zero emissions by 2050.

That’s seen both companies cop a grilling from shareholders and activists alike, particularly with the approval of Woodside’s Scarborough project in WA.

This week Woodside confirmed it has all the necessary licensing and permits to go ahead with the controversial project.

“Woodside has been under intense criticism from environmental advocates as it pushes ahead with its $16.4 billion Scarborough project, which is set to be the biggest fossil fuel development in Australia for almost a decade,” The Australian Financial Review reports.

“[Meantime] the [merger] documents issued to shareholders show BHP Petroleum has rehabilitation obligations of US$3.7 billion ($4.95 billion) as of December 31 – a figure that would fall to Woodside.”

“BHP’s rehabilitation obligations have been inflated as it struggles to sell its Bass Strait assets.”

It remains to be seen if any hurdles will get in the way before the completion date in June. In the meanwhile, BHP shares have spiked 23% this year to date whereas Woodside is up 43%.

The post BHP and Woodside one step closer in creating $40 billion energy giant appeared first on The Motley Fool Australia.

More reading

• What impacted the Woodside share price on Friday?
• If you’d bought $10,000 of BHP shares 5 years ago, here’s what you’d have now
• The Woodside share price has gained just 1% in 5 years. Have the dividends been worth it?
• 5 things to watch on the ASX 200 on Friday
• Black gold! Here’s how well ASX energy shares performed over the March quarter

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

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Today, the S&P/ASX 200 Index (ASX: XJO) conjured up a modest gain, in a similar performance to what occurred on Wall Street last night. At the end of the session, the benchmark index finished 0.47% higher at 7,478 points.

The majority of sectors on the ASX posted a gain today with 118 out of the 200 companies finishing in the green. In a solid showing, mining companies — predominantly gold and lithium miners — led the index higher. Meanwhile, the real estate shares provided some anchorage, with the sector falling 0.4%.

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, Paladin Energy Ltd (ASX: PDN) was the biggest gainer today. Shares in the uranium producer surged 13.13% amid the commodity reaching new multi-year high prices today. Find out more about Paladin Energy here.

The next biggest gaining ASX share today was platinum group metals miner, Zimplats Holdings Ltd (ASX: ZIM). The company reached a new all-time high today as it continues to ride the optimism surrounding commodities. Uncover the latest Zimplats Holdings details here.

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

ASX-listed company	Share price	Price change
Paladin Energy Ltd (ASX: PDN)	$0.905	13.13%
Zimplats Holdings Ltd (ASX: ZIM)	$30.87	6.45%
Johns Lyng Group Ltd (ASX: JLG)	$9.04	4.51%
Nufarm Ltd (ASX: NUF)	$6.40	4.07%
Whitehaven Coal Ltd (ASX: WHC)	$4.49	3.94%
Nickel Mines Ltd (ASX: NIC)	$1.26	3.70%
Yancoal Australia Ltd (ASX: YAL)	$5.17	3.40%
Newcrest Mining Ltd (ASX: NCM)	$27.59	2.91%
Champion Iron Ltd (ASX: CIA)	$7.69	2.26%
Iluka Resources Ltd (ASX: ILU)	$12.37	2.23%

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

• Here are the 3 most heavily traded ASX 200 shares on Friday
• 3 ASX All Ordinaries shares rocking new all-time highs today
• Bond yields bounce past 3% for the first time since 2015. Here’s how the ASX 200 is responding
• Why are ASX uranium shares having such a stellar end to the week?
• ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal

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 Bruce Jackson.

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The Woodside Petroleum Limited (ASX: WPL) share price took a ride to the downside this afternoon. This followed the release of a presentation to Woodside shareholders covering details of the proposed merger with the petroleum division of BHP Group Ltd (ASX: BHP).

At the final bell, the oil and gas company’s shares were 1.52% lower to $32.40. Woodside’s shares recently hit a new 52-week high of $34.60 but it seems there wasn’t enough information in today’s presentation to keep the momentum going.

Independent review says the deal is fair

A swarm of materials pertaining to Woodside’s tie-up with the petroleum business of BHP landed in the lap of investors on Friday afternoon. The information has been provided to shareholders to assist with informing their decision as the shareholders vote on the merger approaches.

For reference, the shareholder vote is slated for 19 May 2022 at the annual general meeting. This would be nine months after the original merger confirmation made by Woodside last year.

Turning back to today’s presentation, a few notable items were included. Importantly, the independent expert report highlighted that KPMG finds the merger to be in the best interests of Woodside shareholders. Yet, this appears to not have done much for the Woodside share price today.

Additionally, the presentation outlined a potential $400 million in estimated annual synergies. In terms of production, the combined entity would be looking at around 193 million barrels of oil equivalent. The newly created energy dominance would position the company as a top 10 global oil and gas producer.

Outlining their findings, KPMG stated:

Whilst there are various factors that may not be attractive to Woodside shareholders, the benefits of holding a share in the merged group are sufficient to conclude that Woodside shareholders will be, on balance, better off by approving the proposed transition,

What’s next on the timeline for the Woodside share price?

From here, shareholders will convene on 19 May to make their decision on the merger. It will be on this date when the market will find out whether all the planning results in an official deal.

Finally, if shareholders vote in favour of the merger the next event will be the implementation date. Based on the presentation, this will occur on 1 June, which will see the distribution of new Woodside shares to BHP shareholders.

The Woodside Petroleum share price is up around 43% since the beginning of the year. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 1.5%.

The post What impacted the Woodside share price on Friday? appeared first on The Motley Fool Australia.

More reading

• The Woodside share price has gained just 1% in 5 years. Have the dividends been worth it?
• 5 things to watch on the ASX 200 on Friday
• Black gold! Here’s how well ASX energy shares performed over the March quarter
• 5 things to watch on the ASX 200 on Thursday
• Woodside share price dips despite project green light

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 Bruce Jackson.

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The Rio Tinto Limited (ASX: RIO) share price closed up 0.2% to $118.98 on Friday, though it reached a peak of $120.18 earlier in the day amid news relating to its alumina refinery.

Rio Tinto is one of the biggest iron ore miners in the world, along with BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG).

But it also has other operations. The company has exposure to aluminium, copper, borates, lithium, diamonds, salt and titanium dioxide.

Rio Tinto has an 80% stake in an alumina refinery called Queensland Alumina. Rusal, a Russian aluminium company, owns the other 20%.

Action on Russian business

According to reporting by the Australian Financial Review, Rio Tinto will not need to consult its Russian partner when making operational decisions at the Queensland alumina refinery. Rusal will now be a ‘silent party’ with no power.

Rio Tinto could also enjoy an “economic windfall” after executing step-in rights because of sanctions on Russian businesses and billionaires, according to the newspaper.

It was reported that Rusal won’t get access to its volumetric share of alumina produced at the refinery during the period to which the step-in rights are related. Rusal’s share won’t accrue during this period, so it will “suffer a permanent economic loss”.

Therefore, Rio Tinto is in line to receive the economic value of the alumina volumes that would normally go to Rusal.

However, Queensland Alumina has reportedly not been paying cash dividends to its owners. Instead, Rio Tinto and Rusal receive physical volumes of alumina which is converted into aluminium at their smelters.

The AFR reported that the step-in rights have been under negotiation since the Russian invasion of Ukraine.

Rio Tinto comments

A Rio Tinto spokesman (quoted by the AFR) said:

As a result of the Australian government’s sanction measures, Rio Tinto has taken on 100% of the capacity and governance of Queensland Alumina Limited (QAL) until further notice.

Our focus remains on ensuring the continued safe operation of QAL, as a significant employer and contributor to the local Gladstone and Queensland economies.

Is the Rio Tinto share price an opportunity?

The broker Ord Minnett thinks the Rio Tinto share price is a ‘hold’ with a price target of $118 after increasing its expectations for the iron ore price in 2022 and 2023 thanks to the strength of the commodity.

Ord Minnett is expecting a grossed-up dividend yield of 15% from Rio Tinto in FY22.

The post What drove the Rio Tinto share price higher on Friday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns Fortescue Metals Group 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 Bruce Jackson.

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