The Bitcoin (CRYPTO: BTC) price is up 3% since this time yesterday, currently trading for US$42,753 (AU$59,108).

That puts the world’s biggest crypto by market cap up 16% in the past 7 days. Though even with that rally, the Bitcoin price remains down 10% year-to-date and down 38% from its 10 November all-time-highs.

Still, the past week’s rally will come as welcome news to crypto investors.

And it’s not just the Bitcoin price shaking off the steep falls from January.

Ethereum (CRYPTO: ETH) is up 22% over the past 7 days.

And leading altcoin Solana (CRYTPO: SOL) is up 31% in that same time.

Though, Ethereum and Solana are also both still deep in the red for the year and well off their own record highs.

Bitcoin price strength fuels gains amongst altcoins

The wider crypto market looks to be getting a boost as investors’ risk appetite appears to be staging a comeback following January’s retreat.

While high growth shares, like many tech stocks, haven’t broadly come roaring back, the selloff has abated.

And altcoins (which refers to any digital token aside from Bitcoin) look to be reaping some of the biggest benefits.

As CoinDesk notes, “The rise in altcoins relative to bitcoin could reflect a greater appetite for risk among crypto investors.”

According to Alex Kuptsikevich, an analyst at FxPro, “Since late last year, there has been a continuing trend that even bitcoin’s calming is enough for altcoins to return to growth and outperform the first cryptocurrency.”

And with the Bitcoin price marching higher, many altcoins are delivering outsized gains.

Keep an eye on the pace of rate rises

Bitcoin, and most altcoins outside of the stablecoins, have proven to be sensitive to interest rate perceptions.

Indeed, on Friday the Bitcoin price slid into the red for a few hours following the release of unexpectedly strong employment figures out of the United States. Forward looking estimates for US labour markets were also revised upwards.

With unemployment tracking to the downside of expectations, the risk of more rate rises from the world’s top central bank increases.

According to Edward Moya, senior market analyst at Oanda (quoted by CoinDesk), “Bitcoin’s initial knee-jerk reaction to the shockingly strong nonfarm payroll report was weakness.”

Moya added that the Bitcoin price has since “managed to stabilise despite rising inflationary pressures that continue to push global bond yields higher”.

The post Bitcoin price rally fuels outsized gains amongst top altcoins appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Bitcoin and Ethereum.  The Motley Fool Australia owns and recommends 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 S&P/ASX 200 Index (ASX: XJO) has recovered from a morning decline and is edging higher. In afternoon trade, the benchmark index is up slightly to 7,122 points.

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

Appen Ltd (ASX: APX)

The Appen share price is down 5% to $8.99. This is despite there being no news out of the artificial intelligence data services company. However, as I pointed out here at the weekend, concerns over demand for its offering due to Meta’s weak result and new developments in data labelling could be weighing on investor sentiment.

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The ANZ share price is down over 2% to $26.52 following the release of its first quarter update. Although the banking giant didn’t provide the market with financials, it revealed that a poor performance for its Markets business in October is expected to impact its first half revenue. In addition, ANZ revealed that its net interest margin (NIM) fell 8 basis points during the quarter. This was greater than many were expecting.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 10.5% to $16.56 after the release of two announcements this morning. The first revealed another disappointing funds under management performance and the second advised that its Chairman and Chief Investment Officer, Hamish Douglass, is taking a leave of absence. This follows “a period of intense pressure and focus on both his professional and personal life.”

REA Group Limited (ASX: REA)

The REA share price is down 3.5% to $138.62. This follows the release of a number of broker notes this morning responding to the property listings company’s first half results. Those notes have seen a number of brokers cut their price targets on REA. This includes Morgans, which has retained its hold rating and cut its price target to $156.25.

The post Why Appen, ANZ, Magellan, and REA shares are falling appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
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• ASX 200 (ASX:XJO) midday update: ANZ disappoints, Magellan shares crushed
• Magellan (ASX:MFG) share price sinks 11% as Douglass steps down for ‘medical leave’

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 Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool Australia has recommended REA Group 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Weekend Sunrise on Sunday to discuss the RBA’s challenge to decide what’s best for the economy – higher rates, or lower for longer.

The post The case for – and against – higher interest rates. Scott Phillips on Weekend Sunrise appeared first on The Motley Fool Australia.

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• Leading broker says Pro Medicus (ASX:PME) share price is a buy

Motley Fool contributor Scott Phillips 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) fell as much as 1.0% in morning trade today.

Since then, the ASX 200 has been forging its way higher, currently down 0.02% on Friday’s close.

It seems many top companies are under pressure amid this year’s increasing volatility. And there looks to be more to come.

According to Shaw and Partners’ senior investment advisor Jed Richards, if the US Federal Reserve raises interest rates next month, as is widely expected, ASX 200 investors can expect more big price swings.

Below we look at 3 top shares where Richards sees opportunity in 2022.

3 leading ASX 200 shares to buy on the dip

The first ASX 200 company where Richards sees opportunity is BHP Group Ltd (ASX: BHP).

As The Australian reports, Richards says the upcoming interest rate rises in the US will likely lower the value of the Aussie dollar. As most of the iron ore mining giant’s exports are priced in US dollars, this will help lift BHP’s profits.

Richards recommends buying BHP under $46 per share. It’s currently trading for $47.47 per share.

Next, he points to Westpac Banking Corp (ASX: WBC). Like the other ASX 200 banks, higher interest rates should see Westpac’s margins increase.

According to Richards:

Banks make more money when interest rates rise, and I prefer Westpac because of their high exposure to the residential mortgage market. Anything under $20 would be a good buying opportunity.

The Westpac share price currently stands at $21.60.

The third ASX 200 share Richards believes will see significant share price upside over the next 1-2 years is biotech giant CSL Ltd (ASX: CSL).

With the share price down following capital raisings, Richards says, “The share price is weak at the moment at $256… I think we will see $340 within a year or two.”

At time of writing, CSL shares are trading for $255.59.

How have these 3 companies been performing?

The 3 ASX 200 companies listed above have performed quite differently so far in 2022.

Year-to-date, the CSL share price is down 12%, Westpac shares are 1.12% in the green, and BHP shares are up 14%.

By comparison, the ASX 200 is down around 6% since the opening bell on 4 January.

The post Expert tips 3 leading ASX 200 shares to buy on the dip appeared first on The Motley Fool Australia.

More reading

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

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Peter Overton on Nine’s Late News on Sunday night to discuss the big economic week ahead, including the release of business and consumer confidence figures, more ASX earnings, and a speech from the RBA governor.

The post The week ahead: Confidence, ASX earnings, tech in focus. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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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. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Scott Phillips owns Alphabet (C shares) and Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Block, Inc., and Meta Platforms, Inc. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and Meta Platforms, Inc. 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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As most investors would know, the past month or two hasn’t exactly been kind to the S&P/ASX 200 Index (ASX: XJO) and ASX shares. As it currently stands, the ASX 200 remains down a rather depressing 6.44% so far in 2022, and 6.9% down from its last peak of 7,632.8 points that we saw last August.

But it was even worse for ASX shares just a week or two ago. Back on 27 January, the ASX 200 fell as low as 6,838.3 points. That represents a 10.4% drop from the past record high. And that meant that the ASX 200 was officially in correction territory. A correction is the arbitrary term for a 10% or greater drop from the most recent all-time high.

But while the ASX 200 has now recovered from its correction, there are a couple of ASX exchange-traded funds (ETFs) that are still very much in correction territory. Let’s take a look…

2 ASX ETFs in correction territory today

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

This tech-focused ETF from BetaShares is one. ASIA is a fund that invests in a basket of tech shares that are domiciled across Asia. A plurality of its holdings (43.9%) hail from the People’s Republic of China. But other countries such as Singapore, Taiwan, South Korea and India are also represented. You’ll find names like Taiwan Semiconductor Manufacturing Co, Samsung, Tencent, JD.com and Alibaba here.

Until early 2021, this ETF had been on a very impressive run. But more recently, ASIA units have been battered by the market’s distaste for tech shares, as well as concerns over investing in Chinese companies. Since its last all-time high of $14.36 that we saw back in February last year, BetaShares Asia Technology Tigers units have fallen by a nasty 35% or so, going off of the $9.02 they are trading at today. That’s well over correction territory.

ETFs FANG+ ETF (ASX: FANG)

The ETFs FANG+ ETF is another ASX fund that has seen its units enter a correction in recent months. This ETF from ETF Securities is a relatively concentrated ETF that only holds 10 underlying companies. These (as the name suggests) are taken primarily from the United States FANG stocks. FANG (or FAANG) is the collective name of Facebook, now Meta Platforms Inc (NASDAQ: FB), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX) and Google, now Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL). Its other holdings include Microsoft Corporation (NASDAQ: MSFT) and Tesla Inc (NASDAQ: TSLA). As well as the Chinese companies Alibaba and Baidu Inc.

Since last peaking at over $19 a unit in November last year, FANG is now in a correction since its unit price is today at $16.23 – a good 14.8% away from that high. We can probably apportion a lot of the blame for this fall at Meta Platform’s feet. Meta dropped a whopping 26% or so last week after fronting up with a disappointing quarterly earnings report. It’s now down 30% year to date in 2022 so far.

The post Why these 2 ASX ETFs are in major correction territory appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Monday
• ASX 200 (ASX:XJO) midday update: ANZ disappoints, Magellan shares crushed
• 2 ASX 200 shares that could make it rain dividends: experts
• Could IAG (ASX:IAG) shares become suddenly sexy amid rising interest rates?
• ‘Plenty of bargains’ following ASX tech shares sell-off: expert

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. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Alphabet (A shares), Meta Platforms, Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Meta Platforms, Inc., and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended JD.com. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, BetaShares Asia Technology Tigers ETF, JD.com, Meta Platforms, Inc., and Netflix. 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) has started the week off on a rather shaky footing. At the time of writing, the ASX 200 has dipped back into negative territory at 7,120 points (down 0.07%) after spending most of the morning in the red.

But rather than trying to figure that out, let’s instead have a look at the ASX 200 shares that are topping the share market’s volume charts right now, according to investing.com.

The 3 most traded ASX 200 shares by volume so far on Monday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco Telstra is the first share up this Monday. So far, a notable 10.53 million Telstra shares have traded on the share market today. There hasn’t been much news out of this company that might explain this move though. So let’s check out what the Telstra share price is up to.

As it stands currently, Telstra shares are currently down 0.37% at $4.04 a share after going as low as $3.99 earlier this morning. It’s likely that this move is responsible for Telstra’s presence on this list so far today.

Beach Energy Ltd (ASX: BPT)

Beach Energy is our next ASX 200 share up today. This Monday has seen a hefty 10.95 million Beach shares traded on the markets so far. Again, there are no major official developments from this energy company to report today.

But the Beach share price has still managed to continue its recent run in style. Beach shares are currently up a robust 2.7% at $1.54 each, putting its year to date gains in 2022 so far at a very pleasing 17% or so. It’s this move upwards today that has probably resulted in Beach Energy’s elevated trading volumes.

Sydney Airport (ASX: SYD)

ASX 200 infrastructure company Sydney Airport is last but certainly not least in terms of trading volume today. So far, we’ve seen a sizeable 19.41 million Sydney Airport shares fly to a new home this Monday. The Sydney Airport share price hasn’t done a whole lot though. It’s currently flat at $8.71 a share. However, it’s probable that this company’s imminent takeover is playing a large role in this elevated trading volume.

Since shareholders have now given the takeover offer from Sydney Aviation Alliance the green light, this company will soon be removed from the ASX and delisted. This will see Sydney Airport also removed from the ASX 200 Index. These processes are probably what is behind this last-minute rush of trading we appear to be witnessing this Monday.

The post These 3 ASX 200 shares are topping the volume charts this Monday appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: ANZ disappoints, Magellan shares crushed
• 2 ASX 200 shares that could make it rain dividends: experts
• Could IAG (ASX:IAG) shares become suddenly sexy amid rising interest rates?
• ‘Plenty of bargains’ following ASX tech shares sell-off: expert
• Top broker picks 6 ASX 200 shares with earnings surprise potential

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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The Pro Medicus Limited (ASX: PME) share price has started the week in the red.

In afternoon trade, the health imaging technology company’s shares are down slightly to $45.50.

This means the Pro Medicus share price is now down 28% since the start of the year.

Is the Pro Medicus share price good value?

One leading broker that sees a lot of value in the Pro Medicus share price is Bell Potter.

According to a note, the broker has upgraded the company’s shares to a buy rating with a trimmed price target of $55.00.

Based on the current Pro Medicus share price, this implies potential upside of 21% over the next 12 months.

What did the broker say?

Bell Potter made the move on valuation grounds. It believes the “recent route in high growth technology and healthcare stocks has created an attractive entry point for some high quality names including PME.”

Particularly given its expectation for Pro Medicus to deliver double digit revenue and earnings growth later this month when it releases its half year results.

In addition, the broker is positive on the future and believes that “as imaging technology grows in complexity (and data size) the use case for the Visage technology continues to become more compelling.”

And while Morgans has trimmed its price target, it feels this is appropriate following the recent market selloff and notes that it still offers major upside potential.

The broker explained: “Our target price is amended to $55.00 from $62.00. The target price is determined from a hybrid model of a DCF and a capitalised earnings model. We applied a 10% discount to the capitalisation multiple of revenues in order to adjust the target price. In our view this is appropriate following the recent market correction across both healthcare and information technology sectors.”

“In our view the current market price represents an attractive entry point to this very high quality healthcare technology play. We upgrade our recommendation from Hold to Buy. Changes to earnings are not material,” it concluded.

The post Leading broker says Pro Medicus (ASX:PME) share price is a buy appeared first on The Motley Fool Australia.

More reading

• 2 medical tech ASX shares for turbulent times
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• Leading brokers name 3 ASX shares to buy today
• Why this broker upgraded the embattled Pro Medicus (ASX:PME) share price to “buy”

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 Pro Medicus Ltd. The Motley Fool Australia owns and has recommended Pro Medicus 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start to be trading a fraction higher. At the time of writing, the benchmark index is up slightly to 7,120.5 points.

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

Cettire Ltd (ASX: CTT)

The Cettire share price has jumped 17% to $2.73. Investors have been buying the online luxury retailer’s shares after it announced its expansion into the Chinese market. It will achieve this by partnering with Chinese ecommerce giant JD.com. Cettire estimates that mainland China will be the world’s largest market for personal luxury goods by 2025, with a potential market size of A$150 billion.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up 13% to $8.16. This follows the release of a trading update by the grain exporter this morning. According to the release, GrainCorp expects its underlying net profit after tax to come in at $235 million to $280 million in FY 2022. This will be up 69% to 100% over the $139 million recorded in FY 2021.

James Hardie Industries plc (ASX: JHX)

The James Hardie share price is up 2% to $48.60. This follows the release of the building products company’s third quarter update. James Hardie reported a 22% increase in global net sales to US$900 million and a 25% lift in adjusted net income to US$154.1 million. Management advised that this reflects strong price/mix growth in all three regions.

Nitro Software Ltd (ASX: NTO)

The Nitro share price is up 6% to $2.04. This appears to have been a delayed reaction to a broker note out of Goldman Sachs from last week. According to the note, its analysts have initiated coverage on the document productivity company’s shares with a buy rating and $2.95 price target.

The post Why Cettire, GrainCorp, James Hardie, and Nitro shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• Cettire (ASX:CTT) share price rips 15% higher as it taps into $150b opportunity
• ‘Bumper crop’: Graincorp (ASX:GNC) share price rockets 13% on guidance update
• ASX 200 (ASX:XJO) midday update: ANZ disappoints, Magellan shares crushed
• James Hardie (ASX:JHX) share price up as company cements trading gains
• ‘Plenty of uplift’: Here’s why the Nitro (ASX:NTO) share price took off 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. owns and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire Limited and Nitro Software 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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The AGL Energy Ltd (ASX: AGL) share price is edging lower today following a broader market decline on the S&P/ASX 200 Index (ASX: XJO).

At the time of writing, the energy company’s shares are down 1.02% to $7.30. In comparison, the benchmark index is down 0.04% to 7,117.2 points.

Is a capital raise on the cards for AGL?

According to JPMorgan analysts, a capital raise could be looming for AGL given its recent share price rise and planned demerger.

The Australian Financial Review reiterated the energy giant will be splitting into two separate businesses by June 2022. This will comprise of bulk power generator, AGL Australia, and a carbon-neutral energy retailer, Accel Energy.

However, investors will be tuned in to the CEO’s comments this Thursday when the company releases its FY22 half-year results.

The AGL share price has accelerated by more than 44% after hitting an all-time low of $5.10 in November. That slump came on the back of the shock exit of its former CEO and a detailed release on the upcoming demerger.

Nonetheless, JPMorgan analysts put out a note last Friday, saying:

…given the recent strength in the stock price and continued focus on the balance sheet post-demerger, the company may take the opportunity to raise equity.

If a $500 million capital raise is undertaken at Friday’s share price, this would be 1% dilutive. If the company seeks to raise $1 billion, this would dilute shareholder value by about 3%.

In May, UBS indicated that a $500 million capital raise might be launched following tough trading conditions for AGL.

A sharp decline in wholesale prices for electricity and renewable energy certificates affected its financial performance. AGL regarded the 2021 financial year as one of the most difficult energy markets on record.

However, fast-forward to today, JPMorgan suggested that AGL could upgrade its FY22 net profit after tax guidance of $220 million to $340 million. This is due to higher electricity prices which have risen 36% since August 2021.

The broker stated that with every A$10/MWh change in the electricity price, this impacts pre-tax earnings by $400 million to $450 million.

AGL share price summary

Over the past 12 months, the AGL share price has plummeted by around 36% in value for investors. The company’s shares reached an all-time low of $5.10 in November before bargain hunters swooped in.

Based on valuation grounds, AGL presides a market capitalisation of approximately $4.82 billion, with approximately 658 million shares outstanding.

The post Could AGL (ASX:AGL) be gearing up for a major capital raise? appeared first on The Motley Fool Australia.

More reading

• Own AGL (ASX:AGL) shares? Here’s what to look for when the company reports next week
• AGL (ASX:AGL) share price withstands healthcare pressure to exit coal ASAP
• These were the best performing ASX 200 shares in January
• What is green shorting and which ASX 200 shares are being targeted?
• Why have ASX energy shares become such hot property in 2022?

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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