Shares in Melbana Energy Ltd (ASX: MAY) are edging lower today and now trade 3% in the red at 14 cents apiece.

The oil and gas explorer has jumped more than 52% in the past month of trade as energy shares ride the wave of geopolitical tensions that are sending commodity markets into overdrive.

Since February 1 2022, it has exploded more than 508% to the time of writing as investors continue driving up the price on enormous volume today.

What’s up with the Melbana Energy share price?

A series of positive catalysts have spiked the needle for Melbana over the last couple of months.

Melbana shares spiked hard in early February after the company announced an important update at its Alameda-1 exploration well in its Block 9 contract area onshore Cuba.

Further gains arrived after the National Offshore Petroleum Titles Administrator (NOPTA) awarded the company a petroleum exploration permit off the coast of WA.

Returns were extended in March when Melbana announced it intersected oil at its site in Cuba. This couldn’t have come at a more perfect time with Brent Crude setting record highs at the time.

At the time, Melbana Energy executive chair Andrew Purcell said the well “continues to have plenty to say to us and we’re enjoying hearing it”.

Aside from that, oil markets have continued to surge in 2022, with Brent Crude – the world’s oil pricing benchmark – heading back towards previous highs at US$108 per barrel.

In the last 12 months, the Melbana share price has gained 466% and has exploded 536% this year to date. The bulk of the gains has been achieved in the last 2 months in both time frames.

The post Why has the Melbana Energy share price exploded 52% in a month? appeared first on The Motley Fool Australia.

More reading

• Why Beach, Melbana, St Barbara, and Tietto shares are dropping
• ‘Plenty to say’ as Melbana Energy (ASX:MAY) races another 13% higher
• This ASX energy share is combatting its sector’s sell-off to hit 9-year highs

The author Zach Bristow has no positions 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 Flight Centre Travel Group Ltd (ASX: FLT) share price is having a good day today.

The travel company’s shares are currently swapping hands at $20.06, a 3.46% gain.

Let’s take a look at what is happening at Flight Centre.

What’s going on with Flight Centre?

Flight Centre is not the only ASX travel share in the green today. The Webjet Limited (ASX: WEB) share price is up 1.36%, the Helloworld Travel Ltd (ASX: HLO) share price is leaping 2.52%, while Corporate Travel Management Ltd (ASX: CTD) shares are climbing 2.82%.

However, it’s not such a good day for the Qantas Airways Limited (ASX: QAN) share price, which is currently down 0.29% after soaring in early trade.

Flight Centre Corporate revealed on Monday 1,300 businesses have resumed travel since domestic and international borders opened in Australia.

The company said 79% of pre-COVID business travellers are flying again, with 6,500 customers now flying with Flight Centre across the company’s corporate divisions.

Managing director Australia James Kavanagh said:

There’s no doubt confidence has rapidly returned in the corporate travel world since the reopening of domestic and international borders as business travellers and organisations shed the fear of more lockdowns and restrictions being imposed.

In other news today, Queensland has announced it will ease Covid-19 restrictions for theme parks and museums along with pubs, cafes and other venues. From April 14, a COVID-19 vaccine certificate will not be required to enter those venues.

Flight Centre share price snapshot

The Flight Centre share price has soared 12% in the last year, while it has taken off nearly 14% this year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) index has returned nearly 11% over the past year.

In the past month, Flight Centre shares have jumped by more than 12%, while they have climbed more than 4% in the past week.

The company has a market capitalisation of about $3.8 billion based on the current share price.

The post Here’s why the Flight Centre share price is taking off today appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Do Flight Centre shares have a dividend reinvestment plan?
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• Finally! 4 travel ASX shares ready to take off: expert
• Do Flight Centre shares pay dividends?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Helloworld Limited. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet 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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Shares in Whispir Ltd (ASX: WSP) are tracking higher today and now trade 8% in the green at $1.98.

Right from the open, Whispir shares began the stair climb before peaking just after midday at $2.03 apiece. It has since cooled off to its current levels after trading sideways for the bulk of the day.

Whispir has a way to go if it is to return to its former highs, having evaporated more than 43% in the past 12 months. It has been on the elevator down south with fair certainty in that time.

What’s up with Whispir shares?

Despite the longer-term headwinds, Whispir has jumped 38% in the past month and is up another 22% in the previous week of trade.

After struggling early in the year, investors have rallied behind the company of late. Momentum continues this session as well – its share price is catching bids at a volume of 148% of its 4-week average today.

The upside is coming off a slumped period in 2022 where shares are still more than 4% in the red. However, it’s not just market sentiment that’s bullish.

Analysts are bullish too. Out of five firms covering the stock, four have it as a buy according to Bloomberg data.

The consensus price target is $3.29 per share, a huge up-step from the current market price of roughly $2 per share.

In fact, the bulk of analysts covering the company have been saying to buy Whispir shares for the previous 2 years, whilst the average price target has crept down somewhat.

Nonetheless, tech shares are staging a comeback, with the S&P/ASX All Technology Index (XTX) lunging another 10% higher this last month after springing off a low base.

With tech shares helping to keep the market buoyant, Whispir continues soaring higher in afternoon trade on Tuesday.

The post What’s up with the Whispir share price today? appeared first on The Motley Fool Australia.

More reading

• 3 exciting small cap ASX shares for your watchlist
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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. owns and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir 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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The S&P/ASX 200 Index (ASX: XJO) is on form and on course to record a strong gain. In afternoon trade, the benchmark index is up 0.6% to 7,558.2 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down over 1% to $5.11. Investors have been selling this infant formula company’s shares following the release of a bearish broker note out of Citi. According to the note, the broker has downgraded A2 Milk’s shares to a sell rating and slashed their price target by almost a third to $4.80. This was driven by weakening Chinese ecommerce infant formula prices and COVID lockdowns impacting ports. The broker has also recently warned of potential delays to the company’s China label registration renewal.

IGO Ltd (ASX: IGO)

The IGO share price is down 3% to $14.56. This follows news that its planned acquisition of Western Areas Ltd (ASX: WSA) was dealt a major blow. While it has yet to be confirmed, IGO advised that it understands the independent expert has concluded that its takeover offer is not in the best interests of Western Areas’ shareholders. In light of this, IGO is expecting the Western Areas board to terminate the scheme implementation deed.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 4% to $10.92. This is despite there being no news out of the rare earths producer. Though, it is worth noting that Iluka Resources Ltd (ASX: ILU) has just announced that it will go ahead with phase three of the Eneabba Rare Earths Refinery in Western Australia. Iluka’s refinery will produce high value rare earth oxides neodymium, praseodymium, dysprosium and terbium.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down 4.5% to 31.5 cents. A number of lithium miners are falling heavily today amid weakness in the sector. This appears to have been driven by profit taking after some very strong gains in recent weeks. The Sayona Mining share price, for example, is still up 140% in the space of a month after this decline.

The post Why A2 Milk, IGO, Lynas, and Sayona shares are dropping appeared first on The Motley Fool Australia.

More reading

• Why is the Sayona (ASX:SYA) share price tumbling 9% today?
• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• Why is the IGO (ASX:IGO) share price slipping today?
• The Lynas Rare Earths (ASX:LYC) share price just hit a 10-year high!
• Why is the Novonix (ASX:NVX) share price charging 6% higher?

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 A2 Milk. 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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S&P/ASX 200 Index (ASX: XJO) shares have come roaring back following January’s sharp selloff.

That rebound now sees the ASX 200 up 1.7% since the closing bell sounded on 31 December. A performance that’s even more impressive when compared to the 3.8% loss posted by the S&P 500 over that same period.

The Australian market has been broadly supported by its prevalence of resource and energy stocks.

ASX 200 shares in the energy sector have raced higher in 2022, sending the S&P/ASX 200 Energy Index (ASX: XEJ) up an eye popping 30.8%.

Resources and materials companies have also outperformed, as witnessed by the 14% year-to-date gain posted by the S&P/ASX 200 Materials Index (ASX: XMJ).

On top of that outperformance over their global peers, analysts remain broadly positive about the outlook for ASX 200 shares.

Why the outlook for ASX 200 shares remains positive

Jun Bei Liu is the lead portfolio manager at Tribeca Investment Partners.

Commenting on the performance of the ASX this year, Liu said (quoted by The Australian Financial Review):

It’s been an incredible performance this quarter, and we’re still in a pretty good growth outlook. Higher commodities have played a big role, our domestic economy does look better, and it will grow better than the rest of the world.

Liu pointed out that ASX 200 shares performed strongly, despite some of the bigger growth stocks falling.

“It’s been incredibly volatile, and it has surprised me how strong we’ve pulled through this month,” she said. “But while there might be volatility because the growth names have sold off, the factors underpinning the Australian equity market will persist and all of that together will put us in a pretty good position.”

Inflation and soaring prices spur commodity stocks

Co-head of mining research at UBS Lachlan Shaw said investor concerns over rising inflation will have helped the performance of ASX 200 shares in the commodity space.

According to Shaw (quoted by the AFR):

Commodities are seen traditionally as a bit of an inflation hedge, and commodity prices are certainly doing their part right now. For now, they are getting a lot of interest from investors in terms of the inflation hedge, in terms of what’s showing up in the headline price.

Atop inflation concerns, most resources are trading at or near multi-year highs.

Demand for raw materials is soaring as the world recovers from pandemic closures, outpacing the sector’s ability to boost supply. The situation is greatly exacerbated by Russia’s invasion of Ukraine.

“Higher prices for longer means higher earnings and higher cash flows, and, for most of these names, a step-up again in returns and dividends,” Shaw said.

All of which should help the overall performance of ASX 200 shares in the months ahead.

The post Here’s why ASX 200 shares still have ‘a pretty good growth outlook’ appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Here’s what $10,000 invested in CSL shares 5 years ago looks like now
• These were the best and worst performing ASX sectors in March

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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Tuesday is proving to be a rough day for the Sayona Mining Ltd (ASX: SYA) share price.

That’s despite no news having been released by the company. Additionally, its stock is flying off the shelf, with more than 209 million shares in the company having swapped hands at the time of writing.

Right now, the Sayona share price is 31 cents, 6.06% lower than its previous close.

However, earlier today, the emerging lithium producer’s stock hit a low of 30 cents, representing a 9% slump.

For context, the S&P/ASX 200 Index(ASX: XJO) and the All Ordinaries Index (ASX: XAO) are both currently up 0.6%.

So, what’s weighing on the Sayona share price on Tuesday? Let’s take a look.

Why is the Sayona share price in the red?

Sayona shares are struggling today, alongside both the S&P/ASX 200 Resource Index (ASX: XJR) and the S&P/ASX 200 Materials Index (ASX: XMJ).

Right now, these sectors are down 0.28% and 0.45% respectively.

While Sayona isn’t a part of the ASX 200, the sectors’ struggles prove today is a rough day for many ASX mining shares.

The AVZ Minerals Ltd (ASX: AVZ) share price is currently the ASX 200’s biggest weight, having fallen 6%.

Additionally, the Sayona share price rocketed 32% higher yesterday after the company released exciting news of its Authier Lithium Project.

Spodumene produced at the project was found to be capable of creating battery-grade lithium hydroxide.

The company also updated the market on what it’s been up to in 2022 so far, with its managing director Brett Lynch commenting it’s had “an extremely bright start” to the year.

Thus, today’s moves might be the market’s way of rebalancing the stock’s value after yesterday’s gains.

Fortunately, today’s fall hasn’t been enough to put the company’s shares back into the long-term red.

Right now, the Sayona share price is 121% higher than it was at the start of 2022.

The post Why is the Sayona (ASX:SYA) share price tumbling 9% today? appeared first on The Motley Fool Australia.

More reading

• Why is the Novonix (ASX:NVX) share price charging 6% higher?
• Why Allkem, Iluka, Pendal, and Sayona Mining shares are charging higher
• Here’s why the Sayona (ASX:SYA) share price is surging 34% on Monday
• Why is the Sayona Mining (ASX:SYA) share price rocking a new 10-year high today?
• Why is the Sayona (ASX:SYA) share price getting so much love on Friday?

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 Bruce Jackson.

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The DroneShield Ltd (ASX: DRO) share price is soaring today following the company’s partnership news with Nearmap Ltd (ASX: NEA).

At the time of writing, the defence contractor’s shares are up 4.88% to 21.5 cents. This marks the highest valuation for DroneShield since early September 2021 when the company’s shares hit a 52-week high of 22.5 cents.

What did DroneShield announce?

In its statement, DroneShield advised it has launched an enhanced version of the DroneSentry-C2 command-and-control software with support from Nearmap.

The latter provides geospatial map technology for businesses, enterprises, and government customers across Australia, New Zealand, and North America. This includes city-scale 3D content, artificial intelligence data sets, geospatial tools, and high-resolution aerial imagery.

As the DroneSentry-C2 platform is predominantly based on delivering counter-UAS [unmanned aircraft systems] awareness, DroneShield has incorporated an optional Nearmap mapping upgrade.

Nearmap’s resolution is several times higher than standard satellite imagery, providing increased precision when responding to counter-UAS threats. Its mapping data is regularly updated, ensuring sites reflect the latest geospatial data for operators.

The software comes with a standard mapping solution for customers on a budget, however, a Nearmap mapping upgrade is available. This offers best-in-class mapping data for high-performance environments such as government, intelligence, homeland security, and defence markets.

The optional Nearmap mapping upgrade will be available as an annual subscription for DroneShield customers who have opted in.

DroneShield stated that the latest offer represents an additional revenue stream and is anticipated to boost its financial accounts.

While the number of expected sales is difficult to predict, the company said it will provide guidance when possible.

DroneShield CEO Oleg Vornik commented:

One of DroneShield’s differentiators is that we are both a sensor manufacturer and an integrator.

Providing a streamlined and standardised hardware/software bundle that gives our user community an easy to deploy and run command-and-control software, will be critical, as more fixed and pop-up site users seek to deploy counter-UAS products.

Importantly, the offering is already validated by deployments such as US Air Force and Australian Army, amongst number of other tier 1 end users globally.

DroneShield share price summary

The DroneShield share price has almost recovered from the fallout of COVID-19. After hitting a low of 8.4 cents in March 2020, the company is tracking on an upward trajectory.

In the past year alone, DroneShield shares are up more than 31%.

With a market capitalisation of around $90 million, DroneShield has room to grow and cement itself as a leading defence contractor.

The post DroneShield (ASX:DRO) share price soars 5% on Nearmap news appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in April 2022
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended DroneShield Ltd. The Motley Fool Australia has recommended DroneShield 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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During the first quarter of 2022, the S&P/ASX 200 Index (ASX: XJO) managed to carve out a small gain despite the high level of market volatility. Over the period, the benchmark index rose 0.7% to 7,499.6 points.

One area of the market that thoroughly outperformed the ASX 200 index was the lithium sector. Thanks to sky high prices, a number of lithium stocks recorded very strong gains.

Here’s why these were the best performing lithium stocks on the All Ordinaries during the quarter:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price was the best performing lithium stock during the quarter with a whopping 119% gain. The main catalyst for this was the announcement of a binding agreement with electric vehicle giant Tesla. The two parties have signed an agreement for the supply of 110,000 tonnes of lithium spodumene concentrate across a four-year period from Core’s Finniss Lithium Project near Darwin. In addition, drilling results from the Carlton deposit of the project got investors excited. Management advised that eight of the nine holes intersected spodumene bearing pegmatite mineralisation. It expects this to underpin an upgrade to the mineral resource of the project.

AVZ Minerals Ltd (ASX: AVZ)

The AVZ Minerals share price was some way behind as the next best performing lithium stock. It recorded a quarterly gain of 59.4%. Its shares were given a boost by their addition in the illustrious ASX 200 index. In addition, there were a number of positive developments at its Manono Lithium and Tin Project in the Democratic Republic of the Congo. Investors appear to believe these developments and sky high lithium prices will make the impending final investment decision on the project an easy one for management.

Calidus Resources Ltd (ASX: CAI)

The Calidus Resources share price was on form and raced 52% during the quarter. While Calidus has made progress with its gold operation this year and expects production to commence imminently, it appears to have been its lithium potential that has got investors most excited. In March, Pirra Lithium, which is 50:50 owned by Calidus and Haoma Mining, identified a “substantial lithium-bearing pegmatite with a mapped strike length of more than 1km” in the Eastern Pilbara. Management commented: “It is already clear that we are in the early stages of an exciting lithium discovery with both scale and strong grades.”

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price was a strong performer and charged 27% higher over the period. This was driven largely by the release of its 2022 development plans. The lithium stock revealed that it expects to double its US lithium hydroxide production to 60,000 tonnes per year. All in all, the company plans to produce or have offtake rights to an estimated 500,000 tonnes per year of SC6 production in the future. Management believes this leaves the US-based lithium miner well-placed to meet demand for the white metal in North America.

The post These are the best ASX lithium stocks so far in 2022 appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
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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 Bruce Jackson.

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Hydrogen shares are often the talk of the ASX, but these five are making headlines for the wrong reasons.

They have officially come in as some of the worst-performing hydrogen stocks of the March quarter.

So, what’s been weighing on these hydrogen-focused companies’ shares lately? Let’s take a look.

Five of the worst-performing ASX hydrogen shares

A quick note: This list only considers hydrogen shares with market capitalisations of more than $50 million.

Sparc Technologies Ltd (ASX: SPN) – down 45.6%

The March quarter was a big one for this ASX hydrogen share. Unfortunately, it wasn’t to the benefit of its share price.

The first news released by Sparc was its activities and cash flow report for the December quarter. Its release saw the company’s share price surge by nearly 15%.

However, that gain – and then some – was stripped as the company exited a trading halt with big news.

And exciting news it was. Sparc announced Fortescue Metals Group Limited (ASX: FMG)’s green energy leg, Fortescue Future Industries (FFI), was buying into Sparc’s ultra-green hydrogen joint venture.

The Sparc share price plummeted 17% on the back of the announcement. The remainder of the quarter was a rollercoaster for the stock.

It gained 7% when it released more details of the hydrogen project and completed the first stage of FFI’s buy-in. But it flopped 10% after the company retracted some previously-given details on the project’s expected production costs and expenditures.

As of the final close of the March quarter, the Sparc share price was 88 cents, down from its starting price of $1.62.

Province Resources Ltd (ASX: PRL) – down 27.5%

Last quarter was also rough on the Province Resources share price.

The company is developing the HyEnergy renewable green hydrogen project in Western Australia.

Province Resources’ poor performance in the quarter came despite no price-sensitive news sending the ASX company’s shares lower.

In fact, the Province Resources stock gained 10.7% when it released its activities and cashflow report for the December quarter.

Additionally, news of a positive scoping study for the HyEnergy Project saw its share price trading flat.

Still, the Province Resources share price slipped from 14.5 cents to 10.5 cents over the three months ended 31 March, making it one of the quarter’s worst-performing ASX hydrogen shares.

Hazer Group Ltd (ASX: HZR) – down 20%

The March quarter was also rough on the Hazer share price.

It tumbled nearly 9% when the company announced a solution to a previously recognised fault in the manufacturing of a crucial part of its commercial demonstration plant.

The fault ultimately resulted in a delay to the plant’s commissioning and an estimated $1 million of extra costs.

The release of the company’s December quarterly update saw its stock dump 2%, while its half-yearly report saw it slip 1%. Over the six months ended 31 December, Hazer’s revenue fell 51%, while its after-tax losses increased 607%.

Fortunately, the Hazer share price gained an impressive 12% on the announcement of a potential new hydrogen project. The company released news of its agreement with two Canadian energy companies to work towards building the project, for which Hazer will supply the technology, engineering, and catalyst.

Sadly, that boost wasn’t enough to get the company’s stock into the green last quarter.

After finishing 2021 trading at $1.15, the Hazer share price was 92 cents at the end of March.

Wesfarmers Ltd (ASX: WES) – down 15%

While not best known for its interests in hydrogen, this ASX giant is technically a hydrogen share.

That’s because it owns Coregas. Coregas has been involved with the Hydrogen Energy Supply Chain project, is working to supply hydrogen to Australia’s transport sector, and manufactures the gas in Port Kembla.

The Wesfarmers share price fell 7% on the release of the company’s half-year results last quarter. The company also completed its acquisition of formerly ASX-listed Australian Pharmaceutical Industries in March.

After ending the December quarter at $59.30, the Wesfarmers share price closed March trading at $50.41.

Pure Hydrogen Corporation CDI (ASX: PH2) – down 13.6%

Finally, last quarter was a rollercoaster for the Pure Hydrogen share price on the ASX.

It started out by flopping nearly 17% after the company was forced to supply more details of its previously announced hydrogen-related deals to the ASX.

However, that slip was recovered when the company announced H2X Global – of which Pure Hydrogen holds a 24% stake – had entered into a joint venture to supply hydrogen-powered vehicles to India.

A few days later, the Pure Hydrogen share price surged again on the back of the company’s activities report for the December quarter.

It also recorded notable gains following deals that will see the company commercialising a process to create turquoise hydrogen and trialling Australia’s first hydrogen-powered garbage truck.

Unfortunately, the Pure Hydrogen share price slipped from 55 cents at the end of 2021 to 47.5 cents at the end of the March quarter.

The post Here are the 5 worst-performing ASX hydrogen shares of the March quarter appeared first on The Motley Fool Australia.

More reading

• These are 2 of the most diversified ASX 200 shares
• Wesfarmers share price in the green amid overhaul news
• 2 ASX 200 dividend shares brokers rate as buys
• What happened to the Wesfarmers share price in March?
• What’s the outlook for the Wesfarmers share price in April?

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 owns and has recommended Wesfarmers 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.7% to 7,565 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

AGL Energy Limited (ASX: AGL)

The AGL share price is up over 3% to $8.30. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded the energy company’s shares to an add rating with an improved price target of $8.83. Morgans made the move in response to improving electricity prices.

Alliance Aviation Services Ltd (ASX: AQZ)

The Alliance Aviation Services share price is up 3% to $3.86. This morning the ACCC revealed that it does not propose to take any further enforcement action in relation to the stake that Qantas Airways Limited (ASX: QAN) has in Alliance. Though, the competition watchdog warned that it will “continue to monitor Qantas’s conduct in the industry in relation to Alliance and may take action at a later time.”

Woodside Petroleum Limited (ASX: WPL)

The Woodside share price is up 3% to $34.01. Investors have been buying the energy producer’s shares following a strong night of trade for oil prices. Speculation that further sanctions could be placed on Russian oil and coal gave oil prices a major boost.

Xero Limited (ASX: XRO)

The Xero share price is up over 4% to $107.77. This follows a strong rise by tech stocks and news of a key new appointment by the cloud-based accounting company. In respect to the latter, Xero has appointed Chris O’Neill to the position of chief growth officer. O’Neill will lead the growth of Xero’s small business platform and strategic development of Xero in the Americas.

The post Why AGL, Alliance Aviation, Woodside, and Xero shares are charging higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• These were the 5 best performing ASX hydrogen shares of the March quarter
• Xero share price leaps amid new growth push
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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. owns and has recommended Alliance Aviation Services Ltd. and Xero. The Motley Fool Australia owns and has recommended Alliance Aviation Services Ltd. and Xero. 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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