Key points

• Buy now, pay later shares started February in the red
• Block’s ASX listing crashed amid a sell-off in the United States
• Interest rate rises in 2022 were flagged by the RBA this week
• Block and Zip recovered some of their losses today

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Buy now, pay later (BNPL) shares have had a shocking start to the month but some edged higher today.

Block Inc CDI (ASX: SQ2) share price has fallen nearly 15% since market open on 1 February. Zip Co Ltd (ASX: Z1P) has fallen nearly 13% in the same time period. However, in today’s trade Block climbed 0.88% while Zip Co jumped 3%.

Let’s take a look at what’s been happening to BNPL shares lately.

BNPL woes

Block and Zip are not the only BNPL shares to fall in February. The Openpay Group Ltd (ASX: OPY) share price has descended 13% since market open on 1 February, while Beforepay Group Ltd (ASX: B4P) has slipped 9%.

Sezzle Inc (ASX: SZL) has also shed 13% in the same time period. In today’s trade, Openpay held steady while Beforepay fell 4.64% and Sezzle finished 0.89% in the red.

Block’s ASX listing dived after the company’s US listing plummeted. Block Inc (NYSE: SQ) fell 20% between market close on 1 February in the US and 3 February.

Investors sold Block shares after rival Paypal’s quarterly results fell short of market expectations. Paypal Holdings Inc (NASDAQ: PYPL) fell a mammoth 29% between market close on 1 February and 3 February in the US.

However, in after-hours trade, Block’s US listing has gained more than 3% and Paypal has edged ahead 1.5%. This could be helping the company’s ASX listing and confidence in the BNPL sector overall.

Zip’s shares also fell heavily this week amid negative sentiment in the industry. My Foolish colleague Aaron noted any Reserve Bank of Australia rate hikes could impact consumer spending. And the Zip business model depends on this spending.

BNPL’s shares suffered amid an overall tech stock slide this week. The S&P/ASX All Technology Index (ASX: XTX) dived almost 4% between market open on 1 February and close today. The index finished today 0.39% ahead.

BNPL share price recap

BNPL shares have suffered major losses in the past 52 weeks.

In the past year, the Zip Co share price has dived 63%. Meanwhile, Openpay has crashed 82% and Sezzle has plunged 74%. Meanwhile, Beforepay has shed 55% since joining the ASX this year, while Block has slipped 17%.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has returned more than 5% in the past year.

The post Some BNPL shares finished a horror week on a high. Why? appeared first on The Motley Fool Australia.

More reading

• Tech stocks crash, while Nufarm soars. Scott Phillips on Nine’s Late News
• Why did ASX 200 tech shares get annihilated today?
• Why Cettire, Novonix, Serko, and Zip shares are sinking today
• Is Zip (ASX:Z1P) the Titanic of ASX tech shares? It just keeps sinking
• With Afterpay shares no longer listed, is WAAAX officially dead?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. and ZIPCOLTD FPO. 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 SEEK Limited (ASX: SEK) share price was out of form on Friday.

The job listings giant’s shares ended the day 4% lower at $28.31.

This means the SEEK share price is now down almost 14% since the start of the year.

Why did the SEEK share price tumble today?

The catalyst for this weakness in the SEEK share price today appears to have been a broker note out of Goldman Sachs this morning.

According to the note, the broker has retained its sell rating and cut its price target on the company’s shares by 15% to $27.30.

Following today’s decline, this implies potential downside of 3.5% for its shares.

What did the broker say?

Goldman is expecting SEEK to deliver a strong result later this month, but not one that achieves the market consensus estimate.

It said: “We expect a strong result from SEK, with 1H22 Rev/EBITDA of $483mn/$223mn, driven by +56%/+58% growth in ANZ Rev/EBITDA. However despite this strong growth, our SEK Rev/EBITDA estimates sit -3% below VA Consensus.”

In addition, the broker has adjusted its price target to reflect changes to valuation multiples in line with other classifieds peers and a discount to the valuation of its Seek Growth Fund business.

It made the move on the latter following industry feedback which suggests valuation pressure on venture capital assets. Goldman highlighted a recent de-rating of Bailador Technology Investments Ltd (ASX: BTI) as proof of this.

The broker explained: “Consistent with global classifieds (and peer REA) we lower our EV/EBITDA valuation multiples 3X within our SOTP (except for Latam).”

“We also introduce a 20% discount to SEK growth fund carrying value, reflecting: (1) peer BTI.AX de-rating (c.25% decline since Oct levels when SEK last provided an ESV valuation); and (2) industry commentary suggesting valuation pressure on VC assets in Australia. Overall our SOTP-based TP decreases by c.15% to $27.30,” it concluded.

The post SEEK (ASX:SEK) share price tumbles on broker sell rating. Here’s why it is bearish appeared first on The Motley Fool Australia.

More reading

• Why Boral, Magellan, REA, and SEEK shares are falling today
• 3 blue chip ASX 200 shares to buy after the selloff
• Analysts name 3 ASX 200 shares that could generate strong returns

Motley Fool contributor James Mickleboro owns SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bailador Technology Investments Limited. The Motley Fool Australia has recommended Bailador Technology Investments Limited and SEEK 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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Key points

• The Qantas share price glided 4.85% higher today amid changes to its loyalty program
• Frequent flyers will require between 30% to 45% fewer points depending on the redemption
• Qantas is rolling the changes out to its 13 million members, anticipating a pickup in domestic leisure travel

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The Qantas Airways Ltd (ASX: QAN) share price took flight on Friday after announcing radical changes to its frequent flyer program.

At the final bell, shares in Australia’s iconic airline were up 4.85% to $5.19. As a result, the airline operator is now in the green on a year-to-date basis.

All in all, it seems investors are optimistic about the modifications made to frequent flyers. Although, the important questions are: what are the changes, and what does it mean for Qantas?

Qantas lowers the bar for its frequent flyers

On Friday, investors pushed the Qantas share price up on news it will cut the number of frequent flyer points needed when booking hotels or holiday packages.

The move will see the Aussie airline reduce the number of points required by 30% and 45% respectively. While the decision might seem counterintuitive for a company attempting to increase profits as it rides out of the COVID-19 storm, the airline sees it differently.

According to the release, the program’s 13 million participants will be able to enjoy this generosity permanently, with the changes intended to remain in place.

In addition, the company is instating a temporary reduction for flight redemptions. In turn, travelers will need 20% fewer points when using a combination of cash and points on flights. However, this will only be in place between April 2022 and April 2023.

Commenting on the changes, Qantas loyalty chief executive Olivia Wirth said:

If you look at domestic trends, people are looking for weekends away up the coast or something similar and that might not include a flight – this provides the chance for our customers to use points on those trips.

Travel trends are changing in the market and, from a timing perspective, we think there will be a leisure travel boom soon.

Furthermore, the announcement comes two weeks after the Qantas share price weakened on the delayed reopening of the Western Australia border.

Qantas share price snapshot

The ASX-listed Qantas share price has been flying through turbulent patches during the pandemic. Despite the challenges, the airline has managed to land itself a positive return for shareholders in the past 12-months. In fact, the Aussie airline has outperformed the broader market during this period.

For reference, the S&P/ASX 200 Index (ASX: XJO) has returned a total of 4.1% in the last year. Meanwhile, the Qantas share price is up 9.5%.

The post Frequent flyer: what changed for the Qantas (ASX:QAN) share price today? appeared first on The Motley Fool Australia.

More reading

• Why is the Qantas (ASX:QAN) share price taking off this week?
• Are ASX travel shares finally emerging from the COVID storm?
• ASX 200 shares offer 12% upside after sell-off: JP Morgan
• What is green shorting and which ASX 200 shares are being targeted?
• Why is the Qantas (ASX:QAN) share price gaining altitude today?

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

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Key Points:

• Nufarm’s share price surged over 20% this week following a positive quarterly update
• Several brokers have upgraded their price target on its shares despite rising costs
• This is because price increases and revenue growth are more than offsetting inflation risks

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The party may not be over for the Nufarm Ltd (ASX: NUF) share price even after its big surge this week.

Leading brokers are tipping further upside for the seed and agri products company after its shares jumped 26% since Monday to hit $5.52.

The catalyst for the Nufarm share price was its quarterly results, which were released yesterday.

Several brokers were impressed enough to upgrade their price targets on the shares even as management warned of rising costs.

Brighter outlook for the Nufarm share price

One broker that lifted its valuation on the Nufarm share price post the update was Macquarie Group Ltd (ASX: MQG).

“NUF is experiencing upward pressure on costs due to raw material costs and global logistics challenges but this is being offset by increased revenues (ie price),” said Macquarie.

“NUF is increasingly confident of achieving revenue and earnings growth for the year. Earnings to be significantly weighted to 1H (saw same last year).”

Pricing power important in this climate

The ability of Nufarm to pass on rising costs is a desirable characteristic in the current climate. Inflationary pressures are building and the ASX shares that can outperform in such an environment are those with pricing power.

Macquarie increased its 12-month price target on the Nufarm share price to $6.29 from $5.45 a share. The broker also reiterated its “outperform” recommendation on the shares.

Planting seeds for extra growth

Meanwhile, Citigroup was another to up its price target on Nufarm by $0.50 to $6.50 a share.

The broker confidence in Nufarm’s ability to grow earnings and sales over the next five years improved after the update.

But its valuation may prove to be conservative as Citigroup did not include the upside from Nufarm’s seed technology business.

“NUF is also aiming for ~$600 to $700 million in revenues for its Seed Technologies business by FY26e which, while not reflected in CitiE or current consensus forecasts, provides an insight into the potential sales quantum for high-growth, early-stage products,” said Citi.

The broker repeated its “buy” recommendation on the Nufarm share price.

How much higher can the Nufarm share price go?

Bell Potter also upgraded its target price on Nufarm following the quarterly update. It increased the target by 18.5% to $6.40 a share.

“There is no change to our Buy rating,” said Bell Potter.

“If NUF can execute on its FY26e targets then it has the scope to become a $565-$635m through the cycle EBITDA business, with a higher exposure to less seasonal elements of the value chain through participation in Omega 3 and Carinata returns post farmgate.”

The post Why top brokers see further upside to the Nufarm (ASX:NUF) share price appeared first on The Motley Fool Australia.

More reading

• Tech stocks crash, while Nufarm soars. Scott Phillips on Nine’s Late News
• Why Amcor, Boral, Nufarm, and Westpac shares are rising today
• Nufarm (ASX:NUF) share price leaps 15% as revenue soars
• ASX 200 (ASX:XJO) midday update: Westpac higher on Q1 update, tech shares sink
• Nufarm (ASX:NUF) share price climbs higher on BP low-carbon fuel deal

Motley Fool contributor Brendon Lau owns Nufarm 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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Key Points

• Amcor shares down 1.6% for the day, but up marginally for 2022
• The company reported a robust result for the first-half of FY22
• Elston analyst Bruce Williams provided his expert take on Amcor shares

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The Amcor PLC (ASX: AMC) share price has continued to gradually travel higher over the past 12 months.

After hitting a low of $14.18 in February 2021, its shares ticked up a notch to reach an all-time high of $17.90 in August.

Since then, Amcor shares have settled back down to $16.58, down 1.6% for the day.

When comparing against its sector, Amcor shares are up 14.66% versus the S&P/ASX 200 Materials (ASX: XMJ), which is up 8.84% in a year.

Notably, following the release of the company results for its FY22 first-half scorecard, Elston’s analyst Bruce Williams weighed in.

What’s driving Amcor share price higher?

Over the six months ending 31 December, Amcor reported a solid first-half performance as it navigated a challenging operating environment.

Across the business, net sales increased by 12% to US$6,927 million on the back of servicing demand in key segments.

At the same time, a broad range of actions were implemented to recover higher input costs and manage through general inflation.

This led to adjusted earnings before interest and tax (EBIT) of US$769 million, up 5% on the prior corresponding period.

In addition, adjusted earnings per share (EPS) rose by 9% to 35.8 US cents.

The board declared a quarterly dividend of 12 US cents to be paid on 15 March 2022.

While the result itself was exceptional given the current surroundings, Amcor reaffirmed its fiscal 2022 outlook.

Management noted that it remains focused on executing its strategy for long-term value creation established over the last several years.

The company is increasing investments in premium segments such as healthcare and protein, in emerging markets to drive growth and margin expansion.

When asked by Ally Selby from Livewire Markets about which ASX share can safely deliver returns in 2022, Mr Williams said:

“The one we’re bringing to the table today is Amcor…

“The basis of its business is consumer staples, so things like healthcare, food, those sorts of things. It’s a packaging business that is dominant in what it does, in each of the markets in which it participates.”

Mr Williams went on talk about the business’ fundamentals, adding:

It generates excellent cash flow. It’s building into its technology around sustainable and recyclable packaging. We think it’s just a terrific defensive position that, through a combination of capital growth, dividends and buybacks, will generate consistent returns for investors for the foreseeable future.

Year to date, the Amcor share price has nudged about 0.36% higher.

The post Amcor (ASX:AMC) shares are ‘a terrific defensive position’: expert appeared first on The Motley Fool Australia.

More reading

• Why Amcor, Boral, Nufarm, and Westpac shares are rising today
• Energy stocks surge and RBA hoses down the chances of a rate rise. Scott Phillips on Nine’s Late News
• Why Amcor, Ansell, Block, and Credit Corp shares are sinking today
• ASX 200 (ASX:XJO) midday update: Amcor slides, BHP and Fortescue storm higher
• Amcor (ASX:AMC) share price falls despite reaffirming earnings guidance and US$200m buyback expansion

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 owns and has recommended Amcor 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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Key points

• The Ioneer share price has dropped 19% in a month
• The lithium explorer (along with a joint ventur partner) has made advancements in the construction of its US-based site
• The US site aims to become “an integral part of the US electric vehicle supply chain”

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The Ioneer Ltd (ASX: INR) share price has seen a significant drop within the last month.

Between the market closes on January 4 and February 4, Ioneer shares fell 19.28%. However, they climbed 4.69% today to close at 67 cents.

So what’s been going on with the company, which describes itself as “an emerging American lithium-boron supplier”?

Let’s dive in…

How has ioneer been performing?

Last week, the explorer released its activities and cash flow report for the quarter ending 31 December.

Most notable was a strategic investment from US-based Sibanye-Stillwater to develop Ioneer’s flagship Rhyolite Ridge lithium-boron project in Nevada, described as the “most advanced lithium project in the US”.

The company reported cash and equivalents at $149 million, and activities as follows:

• Silbanye-Sillwater’s US$70 million strategic investment in Ioneer;
• “Major progress” on its goal of achieving secondary listing of Ioneer shares by CY 2022;
• Advancement in offtake discussions directed at the US supply chain, which are expected to conclude by CY 2022;
• “Engineering and procurement activities” for site construction at advanced stage; and
• Ioneer invited into due diligence by the US Department of Energy’s (DOE) Loan Programs Office.

Since 31 December, the Ioneer share price has decreased by 16%.

What’s going on with Ioneer?

Despite the drop in the Ioneer share price, the explorer is remaining positive on its flagship operations.

The financing from Sibayne-Stillwater (which has entered into a joint venture with the company), tied with the invite from the DOE, signifies a major step towards the lithium project becoming “an integral part of the US electric vehicle supply chain”.

However, the Ioneer share price saw a 14.5% drop between the DOE’s invitation on December 20 and its activities report on January 25.

Ioneer managing director Bernard Rowe said Sibayne-Stillwater “share our vision of becoming a major force in the battery materials supply chain” and that the “investment further aligns our two companies as we look to bring the Rhyolite Ridge project to production”.

It aims to be construction-ready by Q4 2022.

Further, Rowe said:

We continue to see increased demand globally for lithium products and are well positioned to capitalise on the US Government’s efforts to secure critical minerals supply chains for end uses like EVs and renewable energy infrastructure in the US.

The uptick in inbound enquiries from potential offtake parties has only strengthened this quarter, as lithium supply is short, and prices have been rising.

Ioneer share price snapshot

Over the past 12 months, the Ioneer share price has increased by 63%. It saw its lowest price of 28 cents in late June and its highest price of 85 cents in mid-December.

The company has a market capitalisation of $1.31 billion and 2.05 billion shares issued.

The post Why the Ioneer (ASX:INR) share price has dropped 19% in a month appeared first on The Motley Fool Australia.

More reading

• Amcor (ASX:AMC) shares are ‘a terrific defensive position’: expert
• Is Bitcoin a good way to diversify an ASX share portfolio?
• Rio Tinto (ASX:RIO) share price withstands the drama to surge 15% in a month. Here’s why
• Here are the top 10 ASX shares today
• This ASX share can give investors access to the compelling cybersecurity world

Motley Fool contributor Alice de Bruin 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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Key points

• Bitcoin and other cryptocurrencies have long divided opinions
• Some see the asset as digital gold, others consider it worthless
• Let’s take a look at what this investing expert reckons…

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Most investors would now acknowledge that Bitcoin (CRYPTO: BTC) and other cryptocurrencies are now very much part of the mainstream investing zeitgeist. But that doesn’t mean cryptocurrencies aren’t still enormously divisive and controversial assets.

There is still a large camp of investors convinced that Bitcoin and other cryptos are on course to change the world as we know it. But there is still another large camp that consider Bitcoin to be one of the biggest investing hoaxes of all time.

Hamish Douglass of Magellan Financial Group Ltd (ASX: MFG), for example, falls into the latter camp. Last year, we discussed his remarks describing cryptocurrencies as having “zero intrinsic value” and “one of the greatest irrationalities I’ve seen in a very, very long period of time”.

Hero or zero?

So even if one doesn’t fall into one of the two camps described above, how does one view Bitcoin? Is it an asset class that can provide some positive diversification to your average ASX investing portfolio?

Investors often use different asset classes to diversify their own portfolios. For example, many investors invest in both shares and property because these markets largely move independently from each other. The same goes for gold or government bonds.

Some investors do indeed think that Bitcoin can fulfil this role. Many describe Bitcoin as ‘digital gold’, an inflation hedge or an effective store of value. Those traits would indeed likely give it a useful role in portfolio diversification. But let’s see what an investing expert reckons. Mike Young, of Mason Stevens, recently shared his views on this matter on Livewire.

Does Bitcoin give a portfolio diversification?

Mr Young was asked about the role that Bitcoin could play in diversifying a portfolio. He makes some interesting observations. Young points out that Bitcoin is not as ‘uncorrelated’ to other asset classes as people think, especially over short periods of time:

Over the long run, [diversification using Bitcoin] makes sense – as cryptocurrencies purport to reshape global financial systems – and therefore will be beholden to different narratives.

However, it has become increasingly more obvious over the last two years that cryptocurrencies are still very much affected by the incumbent financial system – particularly over the last few months as cryptocurrencies have fallen lockstep with equity markets.

Bitcoin can serve as an effective point of diversification within investor profiles over longer-term time horizons, where the factors that shape long term valuations differ greatly from traditional markets.

It’s that distinction between ‘short-term correlation’ and long-term correlation’ that is interesting. In short, Young seems to be saying that Bitcoin won’t help protect your portfolio from market volatility. But it can still be useful as a long-term diversification instrument.

There is no easy answer here. Bitcoin’s future is arguably more uncertain than any other asset class due to its currency-like structure, and its relatively recent ascension. Perhaps that’s why Young cites billionaire hedge fund manager Ray Dalio’s recommendation of a portfolio allocation to Bitcoin at around 2%.

But only more time will tell as to what role Bitcoin will play in our financial system. And what role it should play in our investing portfolios.

 

The post Is Bitcoin (CRYPTO:BTC) a good way to diversify an ASX share portfolio? appeared first on The Motley Fool Australia.

More reading

• Cryptocurrency crash fails to put a dampener on cash-raising fiesta
• Is Bitcoin using lots of energy actually a good thing?
• Bitcoin price slides again. Here’s what crypto investors are watching
• Why these five cryptos could leave Bitcoin in the dust in 2022
• What are Stablecoins and how do they differ from other cryptocurrencies?

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

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Key points

• Rio Tinto shares have surged nearly 14% in a month
• The company has recently executed a deal on its Oya Tolgoi copper mine
• But Rio has been rocked by Serbia revoking an exploration licence, and a workplace culture report

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The Rio Tinto Limited (ASX: RIO) share price has performed well over the past month despite multiple challenges.

The mining giant’s shares have gained 15% since market close on 4 January. In today’s trading, the company’s share price closed 0.41% higher at $114.61.

Let’s take a look at why the Rio Tinto share price has surged this month.

Why has Rio Tinto beat the storm?

The Rio Tinto share price has risen steadily in the past month with a few minor bumps along the way.

The shares fell on January 24 amid Serbia revoking Rio Tinto’s exploration licences on its $2.4 billion lithium project. The Serbia Prime Minister stated “all permits were annulled…we put an end to Rio Tinto in Serbia”, the BBC reported.

In response, Rio chief executive Jakob Stausholm expressed Rio was “very concerned” about the comments made by the Serbian PM, Reuters reported.

I’m very proud of what we’ve done there. We have always followed the laws and regulation in Serbia as we focused on that amazing project.

On Monday, the company released a review of its workplace culture. The report included findings of bullying, racism, and sexual assault.

Leadership is promising to implement change and put in place all recommendations of the report. WA Mines Minister Bill Johnston has urged other companies to follow Rio Tinto’s lead, the Western Australian reported.

The report does not seem to have adversely impacted the company’s share price, with Rio Tinto shares gaining around 5% since February 1.

A lot has also gone right for the company in the past month.

On January 25, Rio announced it had made a deal with stakeholders to restart work at its Oyu Tolgoi copper mine in Mongolia. This is predicted to be the fourth biggest copper mine in the world by 2030.

Rio’s share price inched slightly higher on the back of its quarterly trading update. Pilbara iron ore shipments fell 5% to 84.1 million tonnes (Mt).

Copper and aluminum volume also declined. However, Rio forecast iron ore shipments of 320Mt–335Mt in 2022 and copper production of 500kt–575kt.

The iron ore price increased from US$117 per tonne at market close on 4 January to US$143.50 per tonne on 3 February. That’s a 22.6% increase. Copper has also edged 0.44% higher in the same time period.

Rio Tinto share price snap shot

The Rio Tinto share price has only risen about 0.3% in the past 12 months but has increased nearly 5% in the past week alone.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the past 12 months.

Rio has a market capitalisation of $42 billion based on its current share price.

The post Rio Tinto (ASX:RIO) share price withstands the drama to surge 15% in a month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Is now the time to buy shares of ASX 200 iron ore giants? Expert weighs in
• Do any ASX lithium shares pay dividends?
• Rio Tinto (ASX:RIO) boss: ‘This is not the type of company we want to be’
• Rio Tinto (ASX:RIO) vs Traditional Owners: $400m battle continues
• These were the best performing ASX 200 shares last week

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) surged into the close to post a green finish to the week. At the end of the session, the benchmark index finished 0.59% higher at 7,120.1 points.

Prior to the last hour, the Aussie index had been swinging between positive and negative consistently throughout the day. The indecision came to an end as most of the red sectors flipped and proceeded to rally into the close. Industrials and tech led the gains today, despite a harrowing performance across US tech companies last night.

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, AVZ Minerals Ltd (ASX: AVZ) was the biggest gainer today. Shares in the mineral exploration company rallied 6.21% without any obvious catalyst. Shares AVZ Minerals are now up more than 315% in the last year. Find out more about AVZ Minerals here.

The next biggest gaining ASX share today was Liontown Resources Ltd (ASX: LTR). The battery metals explorer served up a solid 6.18% gain today. This upwards move came amid the company announcing the successful completion of its share purchase program, raising $12.9 million in the process. Uncover the latest Liontown Resources details here.

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

ASX-listed company	Share price	Price change
AVZ Minerals Ltd (ASX: AVZ)	$0.77	6.21%
Liontown Resources Ltd (ASX: LTR)	$1.46	6.18%
Qantas Airways Ltd (ASX: QAN)	$5.19	4.85%
Virgin Money UK PLC (ASX: VUK)	$3.83	4.08%
South32 Ltd (ASX: S32)	$4.11	3.27%
Ebos Group Ltd (ASX: EBO)	$37.46	3.20%
Zip Co Ltd (ASX: Z1P)	$3.00	3.09%
Nine Entertainment Co Holdings Ltd (ASX: NEC)	$2.75	3.00%
Paladin Energy Ltd (ASX: PDN)	$0.71	2.90%
Super Retail Group Ltd (ASX: SUL)	$12.14	2.79%

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

• Freaky Friday: Why was the ASX 200 so indecisive today?
• Expert sounds the warning bell on ASX ETFs… Here’s why
• These 3 ASX 200 shares are topping the volume charts on Friday
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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. owns and has recommended Super Retail Group Limited and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Super Retail 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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Key points

• The global cybersecurity industry is a growing sector due to to the rising amount of cybercrime as more activity and information is online
• Betashares Global Cybersecurity ETF is an ASX share that allows investors to invest in a quality group of cybersecurity businesses
• It has plenty of the world’s biggest players in the portfolio such as Cisco Systems, Accenture, Palo Alto Networks and Crowdstrike

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Betashares Global Cybersecurity ETF (ASX: HACK) is an ASX share that can give investors exposure to some of the world’s leading cybersecurity businesses in an exchange-traded fund (ETF) structure.

Why is cybersecurity a growth industry?

Worldwide spending on cybersecurity is predicted to increase to almost US$250 billion.

The PWC 2022 global digital trust insights report showed that around 70% of entities which responded expect to grow their cybersecurity spending in 2022. Just over a quarter said they were expecting to increase cyber defence expenditure by at least 10%.

Around the world, cybercrime continues to rise. According to Australian statistics, there were over 67,500 cybercrime reports in FY21, an increase of nearly 13% from the previous financial year. The self-reported losses from cybercrime totalled more than $33 billion.

Approximately one quarter of the reported cyber security incidents affected entities associated with Australia’s critical infrastructure.

Fraud, online shopping scams and online banking scams were the top reported cybercrime types.

In FY21, there was an increase in the average severity and impact of reported cybersecurity incidents, with nearly half categorised as ‘substantial’.

By 2023, the global cybersecurity market is expected to rise to US$248.26 billion.

How does the Betashares Global Cybersecurity ETF fit in?

The HACK ETF portfolio owns many of the businesses involved in the hardware and software that is keeping organisations and individuals safe (or at least safer) in the digital world.

Readers may have heard of some of the 35 businesses in the ETF’s top holdings. These are the biggest 10 positions: Cisco Systems, Accenture, Palo Alto Networks, Crowdstrike, Check Point Software, Juniper Networks, VMware, Akamai Technologies, Leidos and Cloudflare.

The above businesses offer services like firewalls, secure logins, cybersecurity accreditation, important equipment and so on.

Getting exposure to this industry through the HACK ETF comes with an annual management fee of 0.67%.

Performance of the ETF

Past performance is not a reliable indicator of future performance. However, since inception the Betashares Global Cybersecurity ETF has produced net returns of an average of 22.3% per annum to December 2021. In the past three years, the ETF’s net returns have been an average of 30.5% per annum.

The post This ASX share can give investors access to the compelling cybersecurity world appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. 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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