While the All Ordinaries (ASX: XAO) is climbing 0.18% today, the Damstra Holdings Ltd (ASX: DTC) share price is rocketing.

This follows an announcement from the workplace management solutions company regarding Victoria’s $15.8 billion North East Link project.

At the time of writing, Damstra shares are swapping hands for 22 cents, up 12.82%.

What was in Damstra’s announcement?

Investors are buying Damstra shares after the company provided a positive update to the ASX this morning.

According to its release, Damstra advised it has been appointed as a technology partner for the North East Link project.

In what will be Victoria’s largest road project, the North East Link project will fix the missing link in the city’s freeway network.

Building the state’s longest twin road tunnels, the design delivers an overhaul of the Eastern Freeway, Melbourne’s first dedicated busway, completion of the Ring Road in Greensborough and a North East Trail with more than 34km of walking and cycling paths.

It’s estimated up to 135,000 vehicles will use the North East Link each day, reducing congestion on other major roads.

The Spark Consortium, which is in charge of ensuring the project is delivered, comprises a number of companies. This includes Cimic Group Ltd (ASX: CIM) companies CPB Contractors, Ventia and Pacific Partnerships, Italy’s WeBuild, South Korea’s GS Engineering and Construction, China Construction Oceania, Capella Capital, John Laing Investments and DIF.

The project is expected to deliver new $4.9 million of revenue for Damstra over six years (average $816,000 per annum).

Under the partnership, Damstra will provide mobilisation systems via its Enterprise Protection Platform (EPP) to approximately 15,000 users. This will allow utilising the workforce management, Damstra Learning and digital forms modules.

Mobilisation for early work projects is forecasted to commence sometime during the third-quarter of FY222. Full project implementation will follow in FY23.

What did management say?

Damstra CEO, Christian Damstra commented:

We are very pleased to announce this significant long-term arrangement with the Spark Consortium, which will be a major new client for Damstra.

We believe it reflects confidence in Damstra’s ability to provide critical services for workers and contractors for large-scale infrastructure projects and demonstrates the strength of our integrated EPP offering. It also leverages the strength of our construction vertical which has continued to rebound strongly since COVID restrictions began to lift.

About the Damstra share price

It has been a turbulent 12 months for Damstra shareholders, with the company’s shares down more than 25%. The downfall began after Damstra reported its disappointing half-year results for FY21 in February.

Damstra has a market capitalisation of roughly $58.63 million, with approximately 257.70 million shares on its books.

The post Here’s why this ASX tech share is surging 12% today appeared first on The Motley Fool Australia.

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• Selling out? Cettire (ASX:CTT) share price slumps amid founder selling rumours

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

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ASX bank shares have shown mixed results so far in 2022 with some names flying well ahead of the pack whilst others drag the group down.

 The S&P/ASX 200 Financials Index (ASX: XFJ) has slipped more than 4% into the red since trade commenced on January 4.

Although, it has clawed back gains and landed 1% up over last month as the market digests a wave of geopolitical conflict and macroeconomic pressures.

One particular ASX 200 bank share that has struggled heavily this year is Australia and New Zealand Banking Group Ltd (ASX: ANZ), finding itself more than 6% in the red, well ahead of the broad sector.

Not only that, but the bank nudged past its 52-week low’s in trading today, settling at a price of $25.75 at the time of writing.

Not all are so downbeat on the ANZ share price, however. Analysts at JP Morgan reckon the bank has plenty of upside left and rates it one of the top picks amongst the banking majors.

ANZ share price tipped to surge 20% in 2022 by top broker

Analysts at JP Morgan reckon there is “greater certainty” in ANZ’s growth story and have subsequently baked in a period of underlying momentum in 2022 and 2023 projections.

The broker recently made some key earnings changes to its outlook of ANZ by increasing net interest margin (NIM) by 300 basis points in FY23/24, “primarily to reflect a bring forward of rate hikes to Q4 of CY22”.

This should transpose well for the bank’s impairment expenses, the broker says, reducing its loan-loss estimates in the process.

“Our loan-loss forecasts have reduced in FY22 (higher assumed CP release), but increased in FY24 to 18bps of gross loans, reflecting the impact of rate hikes on the broader economy” the broker said.

“While mortgage growth has been disappointing of late, we expect a gradual improvement in line with improved processing efficiencies”, it added.

In JP Morgan’s eyes ANZ also offers the best exposure to non-domestic interest rates, a luxury it enjoys thanks to its NZ enterprise and the size of its institutional segment.

And to help offset the foreseeable headwinds to mortgage margins, that are likely to plague the sector in 2022 due to saturation and tightening policy, the broker says ANZ’s relatively large exposure to business lending should provide enough protection.

One key headwind the broker alludes to in its thesis is “a more negative impact than expected from APS111 and RBNZ capital rule changes”.

JP Morgan analysts set a price target of $30.50 on ANZ shares whilst urging clients to buy the stock. At the current market price today, that valuation signals an upside potential of 20% on last check.

Around 60% of brokers have ANZ as a buy right now according to a list provided by Bloomberg Intelligence, where the consensus price target is $29.13.

ANZ – an ASX 200 share with a mixed past

In the last 12 months, the ANZ share price has collapsed over 4% and is down 6% this year to date.

During the past month of trading, shares have collapsed another 3%, and ANZ is thus trailing the major ASX 200 banking indexes this year.

The post Can this ASX 200 bank share flame 20% higher? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why did the ANZ (ASX:ANZ) share price lag the other banks in February
• Own ANZ shares? Here’s the bank’s latest move to ‘better prepare for future growth’
• Greater Certainty: Why this top broker is bullish on ANZ (ASX:ANZ) shares in 2022
• Bad ATM? The ANZ share price was hammered more than any other ASX 200 bank today

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

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,105.7 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has jumped 17% to 96.5 cents. Investors have been bidding the lithium developer’s shares higher today after it announced a binding agreement with auto giant Tesla. According to the release, the agreement is for the supply of 110,000 tonnes of lithium spodumene concentrate across a four-year period.

Medical Developments International Ltd (ASX: MVP)

The Medical Developments International share price has rocketed 27% higher to $4.35. Investors have been buying the medical device company’s shares after it revealed that the US Food and Drug Administration (FDA) has unconditionally lifted the agency’s clinical hold on its Penthrox (aka the green whistle) product. This means the company can now start to plan a phase 3 trial in the US.

Rio Tinto Limited (ASX: RIO)

The Rio Tinto share price is up 4.5% to $123.20. This follows a strong night of trade for commodity prices. For example, according to CommSec, the spot iron ore price rose 3.8% to US$144.45 per tonne overnight. This bodes well for Rio Tinto’s performance and its cash flow generation in FY 2022.

South32 Ltd (ASX: S32)

The South32 share price is up 4.5% to $4.96. Once again, this appears to have been driven by rising commodity prices. According to CommSec, the aluminium price climbed 3.3% overnight to US$3,501 per tonne. In addition, this morning Goldman Sachs retained its conviction buy rating and lifted its price target to $5.60.

The post Why Core Lithium, MVP, Rio Tinto, and South32 shares are rising today appeared first on The Motley Fool Australia.

More reading

• Here’s how these top 3 ASX 200 mining shares performed in February
• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks
• Giddy up: Core Lithium (ASX:CXO) share price races 11% higher on Tesla deal
• Why the Medical Developments International (ASX:MVP) share price is rocketing 32% higher
• This broker tips South32 (ASX:S32) as one of the best ASX 200 mining shares 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 Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International 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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There is a lot going on with the AGL Energy Limited (ASX: AGL) share price right now. Yes, AGL shares have shed 0.54% or thereabouts so far today at $7.38 a share. But that’s not the most exciting happening with this company.

Last month, AGL was sensationally on the front page as billionaire Mike Cannon-Brookes launched a surprise bid for the stalwart energy utility company. Cannon-Brookes made the $7.50 a share bid for AGL through his private company Grok Ventures. It was in partnership with the Canadian investment house Brookfield Asset Management.

Cannon-Brookes, if successful, intends to halt AGL’s planned demerger of its generation and retail arms that the company is planning to execute this year. He also wants to rapidly accelerate AGL’s decarbonisation plans, and close the company’s coal-fired power plants as early as possible in order to transition into renewable energy generation.

AGL’s management was quick to reject the offer, saying it vastly undervalues the company. However, we might not have read the last chapter of this gripping tale just yet.

For one, AGL is fighting a battle of its own right now. Not all shareholders are on board with the demerger plans. As my Fool colleague Tristan covered last month, the activist London-based AGL investor Snowcap has described the demerger plans as “value destructive and environmentally disastrous”.

Snowcap proposes that rather than accept the bid from Cannon-Brookes (which it agrees undervalues the company), AGL should instead abandon the demerger and accelerate AGL’s coal exit itself.

AGL shares mired in drama

But are Cannon-Brookes and Brookfield finished with AGL after their offer was rejected?

Well, that remains to be seen. But there seems to be a consensus among many interested parties that they will need to step up their enthusiasm. According to a recent report in The Australian, one of AGL’s top shareholders in VanEck is one of them.

The report reveals that VanEck, an ETF provider and major AGL shareholder, reckons that Cannon-Brookes and Brookfield will need to up their $8 billion bid to convince shareholders to take it on. Here’s some of what VanEck Australia’s deputy head of investments and capital markets, Jamie Hannah, had to say:

It‘s just not a good enough price… What it comes down to is $7.50 doesn’t take into account the long-term benefits of AGL. It’s certainly had a terrible five-year share performance, I won’t argue that. However, it’s just trying a very opportunistic price down at $7.50, when it is at such a low…

They’ll definitely need to go higher to get engagement for sure… I’m not going to give a level but they definitely need to make it attractive for current shareholders to be willing to sell.

Although Hannah wasn’t keen to put a dollar figure on a new offer, AGL’s management itself has. In another article in The Australian last month, AGL chief executibe Graeme Hunt told the paper the following:

Typically, for a change of control of a company, shareholders are looking for a premium 30-40 plus per cent over whatever the appropriate share trading range is for the company.

That would equate to another $1 billion or so.

So unless Cannon-Brookes and Brookfield want to walk away from AGL, it looks like they have some more work to do. Not to mention some more cash to put on the table. Perhaps a billion? We await their next move.

The post Will Mike Cannon-Brookes bring an extra $1 billion to the table in his AGL takeover bid? appeared first on The Motley Fool Australia.

More reading

• This commodities index just saw its biggest rise in over 10 years. What might this mean for ASX 200 shares?
• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks
• Why did AGL (ASX:AGL) shares smash Origin in February?
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today

Motley Fool contributor Sebastian Bowen 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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A message from our CIO, Scott Phillips: “G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.”

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ASX gold shares are posting another strong day of outperformance.

The All Ordinaries Index (ASX: XAO), down 0.8% in morning trade, has bounced to a 0.2% gain at lunchtime. This follows on intraday news that the Aussie economy grew by a stronger than expected 3.4% in the fourth quarter of 2022.

But ASX gold shares are still broadly beating the benchmark.

At time of writing the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is up 1.9%. Reflecting gold’s haven status, the ASX Gold Index slipped from its 3.1% gains earlier today on the strong GDP figures. 

Why are ASX gold shares outperforming today?

As you’d expect, ASX gold shares tend to perform much better when gold prices are high. And gold prices have been soaring amid the combination of increasing inflation concerns and geopolitical instability following Russia’s invasion of Ukraine. 

While bullion slipped over the past hours from US$1,945 to US$1,932 per troy ounce, it’s well up from the US$1,908 per ounce it was trading for on 28 February. And the yellow metal remains 7.3% above its 1 February level of US$1,801 per ounce. 

Commenting on the forces driving gold prices higher, and helping ASX gold shares outperform again, Gary Dugan, CEO of Global CIO Office said (quoted by Bloomberg):

The whole crisis has gone to a level that we couldn’t have believed, and investors are no longer saying we’ll buy some defensive stocks or bonds. It’s now about buying gold especially against the backdrop of inflation risks that have been made worse by the conflict.

Yeap Jun Rong, a strategist at IG Asia added: 

Gold may continue to outperform other haven assets, with an added tailwind from central bank purchases and also displaying its characteristic as an inflation hedge. The conflict has not seen any signs of easing and further escalation may heighten risks of persistent inflationary pressures, which will continue to draw traction for gold prices.

4 outperforming gold miners

We can’t cover all of the ASX gold shares here, but below are 4 that are handily beating the index today.

With gold high on global investors’ radars, the Newcrest Mining Ltd (ASX: NCM) share price is up 1.3%.

S&P/ASX 200 Index (ASX: XJO) listed Evolution Mining Ltd (ASX:EVN) is also charging higher, up 2.2%, while the Northern Star Resources Ltd (ASX: NST) share price is up 1.6%.

Leading the pack of ASX gold shares today is AngloGold Ashanti CDI (ASX: AGG). The Anglogold share price is up 7.7%. 

The post Here’s why ASX gold shares are having another stellar day appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Why Dubber, Evolution, Sandfire, and Zip shares are dropping
• Here’s why ASX gold shares just had their best month in 2 years
• 5 things to watch on the ASX 200 on Tuesday
• Is Bitcoin or gold a better buy for these uncertain times?

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) gained 1.1% in February. That came off the back of a 9.9% fall in the first 3-plus weeks of January.

Most ASX 200 mining shares didn’t fall nearly that hard, or at all, in the early weeks of 2022. So, they didn’t have as much rebound potential as the wider index.

Still, that didn’t keep one of the iron ore giants from trouncing the benchmark gains, as it announced the biggest dividend in Australian history last month.

How did these 3 top ASX 200 mining shares move in February?

From the closing bell on 31 January through to the closing bell on 28 February, the BHP Group Ltd (ASX: BHP) share price gained 0.7%.

But that doesn’t tell the full story.

BHP reported strong half year results (1H FY22) on 15 February, beating consensus expectations. BHP’s revenue leapt 27% from 1H FY21 to hit US$30.53 billion. Underlying profits reached US$9.72 billion, up 57% year-on-year.

It also declared a $2.08 fully franked interim dividend.

Importantly, the ASX 200 mining share went ex-dividend on 24 February. This, as you’d expect, saw BHP’s share price drop 6.9% on the day. So we’ll need to factor that into its February performance.

Meanwhile rival ASX 200 mining share, Rio Tinto Limited (ASX: RIO), gained 5.9% in February.

Rio Tinto reported its full year results after market close on 23 February. And Rio Tinto didn’t disappoint.

Among the highlights, the miner’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) reached US$37.72 billion. That was up 58% from the prior year.

Rio also declared a total dividend payout of US$10.40 per share, up a whopping 87% from FY20, and the biggest ever in Aussie history.

The difference from BHP, however, is that Rio Tinto didn’t go ex-dividend in February. Hence that hasn’t yet impacted its share price.

Moving on to number 3

Moving on to our third leading ASX 200 mining share, Fortescue Metals Group Limited (ASX: FMG) closed February down 8.6%.

Fortescue reported its half year financial results on 16 February. And unlike its competitors, Fortescue’s figures slumped year-on-year.

The miner’s total revenue was down 13% from 1H FY21 to US$8.1 billion. Underlying net profit after tax (NPAT) also slipped 32% to US$2.8 billion. And its 86 cent fully franked interim dividend was also down 41% year-on-year.

Topping that off, the ASX 200 mining share went ex-dividend on 28 February, which saw shares close the day down 2.4%.

The post Here’s how these top 3 ASX 200 mining shares performed in February appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks
• Why did the BHP (ASX:BHP) share price deliver such lacklustre gains in February?
• ‘A lot of headroom to grow’: Is 2022 the year ASX investors turn to ESG shares?
• How might the conflict in Ukraine impact the iron ore price?
• Tell him he’s dreamin’: Are the Fortescue (ASX:FMG) green hydrogen plans realistic?

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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A message from our CIO, Scott Phillips:

“G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.”

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It’s proving to be a big week for ASX cybersecurity shares as fears of Russian cyber attacks grow and the tech sector recovers.

Internationally, cybersecurity stocks Crowdstrike Holdings Inc (NASDAQ: CRWD) and Palo Alto Networks Inc (NASDAQ: PANW) have each gained around 15% over their last five sessions.

And the theme is carrying over to the ASX. Let’s take a look at what’s seemingly got investors bullish on cybersecurity and two ASX shares that could be benefiting.

What’s driving ASX cybersecurity shares higher?

Warning bells are ringing after Western powers – including Australia – placed sanctions on Russia, barring its banks from accessing the Society for Worldwide Interbank Financial Telecommunications (SWIFT) payment system.

International banks are likely now preparing for retaliatory cyberattacks, according to reporting by Reuters.

Meanwhile, Telstra Corporation Ltd (ASX: TLS) CEO Andy Penn told the Mobile World Congress that the crisis occurring in Ukraine is an example of a changing landscape where cyberattacks can ultimately harm individuals and businesses anywhere, as reported by The Australian.

Just last week, the Australian Cyber Security Centre (ASCS) issued a warning to organisations, asking them to consider strengthening their cybersecurity measures following Russia’s invasion of Ukraine.

Of course, concerns of malicious cyber activity have helped put a spotlight on ASX cybersecurity shares.

Additionally, as cybersecurity stocks inevitably overlap with the technology sector, it’s worth mentioning the latter’s recent rebound.

After plunging last Thursday, the S&P/ASX All Technology Index (ASX: XTX) and S&P/ASX 200 Information Technology Index (ASX: XIJ) have recovered their losses – and then some.

The All Tech Index is currently 5% higher than it was one week ago. Meanwhile, the ASX 200 Info Tech Index is 10% higher.

These ASX cybersecurity shares have taken off this week

ArchTIS Ltd (ASX: AR9)

Producer of cybersecurity and secure information sharing solutions, ArchTIS has seen its share price surge 14% over the last week. At the time of writing, shares in the company are trading for 19 cents apiece.

Worth noting, the company released its earnings for the first half of financial year 2022 last Thursday.

Over the half, the company’s revenue more than doubled ­to reach $2.4 million last half. That’s a 118% increase on that of the prior comparable period.

Additionally, its reoccurring revenue grew 104% to $2 million.

WhiteHawk Ltd (ASX: WHK)

The WhiteHawk share price began trading after an extended freeze late on Thursday. It has since gained 34% to trade at 16 cents.

The trading halt was imposed by the ASX as it ran a fine-toothed comb through the company’s recent disclosures.

The following day, WhiteHawk dropped its preliminary report for 2021.

Last year, the company’s revenue increased 180% on that of 2020 while it posted an after-tax loss of US$2.5 million.

The post 2 ASX cybersecurity shares going gangbusters this week appeared first on The Motley Fool Australia.

More reading

• Here’s how these top 3 ASX 200 mining shares performed in February
• Here’s why the Boss Energy (ASX:BOE) share price has surged 37% in a week
• This commodities index just saw its biggest rise in over 10 years. What might this mean for ASX 200 shares?
• Top brokers name 3 ASX shares to buy today
• Why did the ANZ (ASX:ANZ) share price lag the other banks in February

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. owns and has recommended CrowdStrike Holdings, Inc. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended CrowdStrike Holdings, 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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The Boss Energy Ltd (ASX: BOE) share price has been soaring recently despite no official news from the company. The price surge has coincided with a rise in energy prices across the board.

At the time of writing, the Boss Energy share price is up 2.82% to $2.55. To compare, the ASX All Ordinaries Index (ASX: XAO) is up just 0.11%.

So what’s been going on with the uranium producer?

Uranium prices surge

The last we officially heard from the company, it had appointed a new non-executive director. The appointee had previously worked at Boss’s new joint venture partner, the Canadian-listed First Quantum Minerals Limited.

The Boss Energy share price jumped 8% on the joint venture announcement on 10 February.

And since its last announcement to the market on 21 February, the Boss Energy share price has jumped by 30%.

However, it’s not just Boss Energy shares seeing price increases. At the time of writing, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 3.78% — making it the best performing sector so far today.

It coincides with uranium’s performance on commodities markets. At the time of writing, it’s trading at US$50.35 a pound, according to Trading Economics. That’s up 5% on the day and more than 11% in the past month.

Gas prices up amid Ukraine crisis

Its energy sector cousins are also soaring. At the time of writing, the price of natural gas is US$4.64/MMBtu, up 5% in the past week. Similarly, Brent crude oil is currently fetching US$108.77 a barrel — its highest price in five years.

The surge in energy prices during the last month have been attributed to”supply disruption” concerns surrounding the Russian invasion of Ukraine.

“The traders are becoming increasingly reluctant to buy Russian oil and are dancing payment and delivery difficulties,” according to Trading Economics.

Meanwhile, The Wall Street Journal is reporting the US and “other major oil-consuming nations” are tossing up whether to dip into emergency oil stockpiles due to the conflict.

Once Boss Energy restarts uranium operations at its flagship site in South Australia, the miner may have a hungry market waiting. Already many major consumers are looking to switch to carbon-free energy sources — as seen in France and Germany.

Boss Energy share price snapshot

Over the last 12 months, the Boss Energy share price increased by 125%. In that time, Boss shares have seen a 52-week low of 31 cents and a high of $3.08.

The company has a market capitalisation of $719 million and a price-to-earnings ratio (P/E) of around 666.7.

The post Here’s why the Boss Energy (ASX:BOE) share price has surged 37% in a week appeared first on The Motley Fool Australia.

More reading

• Here’s why the Boss Energy (ASX:BOE) share price is racing 8% higher today

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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With the recent geopolitical turmoil, spurred on by already hot-running inflation throughout global markets, commodities are now well within another supercycle.

The last we saw was roughly 10 to 15 years ago. That’s when metals such as gold, iron ore and steel surged on the back of global demand and limited supply.

Fast forward to 2022, it’s battery metals like lithium and copper. Whilst the macro-narrative is slightly different, the raw data is no different. Inflation is at 40-year highs, there is conflict between major global powers in Europe, we’re overcoming a pandemic; alas, it’s not just investors feeling the pain.

Nevertheless, commodities are front and centre once more considering the demand-supply dynamic that’s vice-gripped essential energy and metals segments in 2022.

The Bloomberg Commodity Index (BCOM) tracks a global basket of commodities and reflects movements in 33 commodity futures contracts, per Bloomberg.

It has gained 4% overnight and is up more than 20% this year to date. That’s as key weightings like oil, gold and natural gas each soar this year.

The largest weighting, the gold 100 oz future contract for 22 April settlement, comprises almost 14%, whereas oil collectively makes up over 16%, and natural gas another 8.5% (shown below).

With each of these segments – and just about every other commodity segment – entering the cycle, it’s no wonder the index is one of the best-performing instruments out there in 2022.

Just take a look at Brent Crude Oil. No one thought it would reach US$100 per barrel again. Yet, here we are today with Brent above US$106.80.

What does this mean for ASX 200 shares?

Taking a high-level look, apparently not much. Whilst the commodities sector is roaring 20% higher in 2022, the S&P/ASX 200 Index (ASX: XJO) has plunged 5% into the red.

In fact, 151 out of the 200 companies are in the red today. Just 42 are posting a gain at the time of writing.

But digging a little further reveals some more accurate results.

Let’s zoom out and see what shares are performing well over the last 12 months, seeing as the index itself is up just 5% in that time.

Of the top 10 performers in the past year, nine are resources, mining, minerals, energy or metals companies that each have some level of direct or indirect exposure to commodities.

Looking at today’s session, of the top 10 performing stocks there is only one company without exposure to commodities. All the rest do, and are firmly in the green at the time of writing.

What about the top 20 performers today?

Funnily enough, 19 out of the 20 top-performing stocks on Wednesday have exposure to commodities. The results are very similar over a 12-month timeframe as well.

So, on re-evaluation – what does this mean for ASX 200 shares? Taking a more pragmatic look, it appears it means a lot for the ASX 200 basket.

With the major performers each being companies that have some exposure to commodities, it’s abundantly clear what is driving returns in 2022.

Hence, the rally that commodities are staging in 2022 appears to be weighing in significantly on ASX 200 shares and keeping things afloat.

The post This commodities index just saw its biggest rise in over 10 years. What might this mean for ASX 200 shares? appeared first on The Motley Fool Australia.

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• The Soul Pattinson (ASX:SOL) share price has lost 17% so far this year. Is it a buy?

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

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $30.00 price target on this banking giant’s shares. This follows news that the bank is combining its Digital Division, including ANZx, and its Australian retail business. Morgan Stanley is positive on the news and sees it as a good way to strengthen the all-important digital proposition and help turnaround its retail market share losses. The ANZ share price is currently trading at $25.76.

Block Inc CDI (ASX: SQ2)

A note out of Macquarie reveals that its analysts have initiated coverage on this payments giant’s shares with an outperform rating and $230.00 price target. The broker believes that Block is well-placed to grow its ARPU thanks to management’s plan to leverage its Afterpay and Cash Card offerings. The latter reached 13 million monthly active users at the end of December, representing more than 30% of its 44 million monthly transacting active user base. The Block share price is fetching $173.75 this afternoon.

Zip Co Ltd (ASX: Z1P)

Analysts at Morgans have retained their add rating but slashed their price target on this buy now pay later provider’s shares down to $3.94. According to the note, the broker sees positives in its plan to acquire Sezzle Inc (ASX: SZL). It notes that the deal has the potential to help Zip win more merchants thanks to its larger combined customer base. The Zip share price is trading at $1.95 on Wednesday afternoon.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• Why did the ANZ (ASX:ANZ) share price lag the other banks in February
• ‘Strategic sense’: What brokers are saying about the Zip (ASX:Z1P)-Sezzle deal
• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Why Dubber, Evolution, Sandfire, and Zip shares are dropping
• Leading brokers name 3 ASX shares to sell 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 Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, 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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