On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 7,235.9 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones up 0.1%, the S&P 500 up 0.3%, and the Nasdaq down 0.2%. US markets were up materially until a case of Omicron was confirmed in the US.

Oil prices edge lower

Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a subdued day after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$65.90 a barrel and the Brent crude oil price has fallen 0.25% to US$69.06 a barrel. Concerns over a looming supply glut weighed on prices.

Cleanaway ACCC delays

The Cleanaway Waste Management Ltd (ASX: CWY) share price will be on watch today after it revealed that the ACCC has deferred its decision date for the clearance of the company’s acquisition of a portfolio of strategic post-collection assets in Sydney from Suez. However, management remains confident the deal will be approved despite the delay.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,783 an ounce. The gold price rose due to increased demand for safe haven assets amid omicron-induced volatility.

Premier Investments’ annual general meetings

Premier Investments Limited (ASX: PMV) shares will be in focus on Thursday. The retail conglomerate is holding its annual general meeting later today and could provide investors with an update on the performance of its brands so far in FY 2022.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX shares today
• Why did the Woolworths (ASX:WOW) share price tumble today?
• Woodside (ASX:WPL) share price ends higher on Wednesday after energy giant vows to fight Pluto legal challenge
• ASX shares to buy for the Omicron COVID outbreak
• Why is the Rio Tinto (ASX:RIO) share price having such a great day?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments 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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If you’re a fan of growth shares, then you may want to look closely at the three shares listed below.

Here’s why these could be growth shares to buy:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is one of the world’s leading appliance manufacturers and has been growing at a consistently solid rate for the last decade. The good news is that Breville has been tipped to continue this positive form in the future. This is thanks to the popularity of its brands, its international expansion, acquisitions, favourable consumer trends, and its continued investment in R&D.

Macquarie is very positive on the company. Last week the broker retained its outperform rating and $34.37 price target.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to look at is this pizza chain operator. As with Breville, Domino’s has been growing at a consistently solid rate for over a decade. This has been underpinned by the popularity of its offering and the expansion of its footprint. Pleasingly, these trends aren’t changing any time soon. Domino’s pizzas remain as popular as ever and management sees significant room to grow its store network. In fact, it is aiming to more than double its footprint to 6,650 stores in existing markets by 2033.

Goldman Sachs is a fan of the company. It currently has a buy rating and $147.00 price target on Domino’s shares.

Hipages Group Holdings Ltd (ASX: HPG)

A final ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. At the last count, there were over 31,000 tradies using the platform. This is underpinning strong growth across all its key metrics. And while it is generating meaningful revenue at present, it is still only scratching at the surface of its huge market opportunity. This provides Hipages with a very long runway for growth.

Goldman Sachs is also very bullish on Hipages. It currently has a buy rating and $4.95 price target on its shares.

The post 3 top ASX growth shares to get bullish on appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in December 2021
• Here are the top 10 ASX shares today
• Own Domino’s (ASX:DMP) shares? Here’s how Pizza Hut is coming for a bigger slice of the pie
• Why Domino’s, Healius, Kogan, and Vulcan shares are pushing higher
• ASX 200 (ASX:XJO) midday update: Omicron hits Flight Centre, Domino’s jumps

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 shares of and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Hipages Group 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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The Adairs Ltd (ASX: ADH) share price ended up in the green today after finalising its acquisition of Focus on Furniture.

Despite a dismal start to the day, Adairs shares were up 0.28% trading at $3.60 at the close of Wednesday’s session. This compared favourably to the S&P/ASX 200 Index (ASX: XJO), which finished 0.28% lower.

Why is the Adairs share price holding up?

Adairs announced the $80 million dollar deal to acquire Focus on Furniture last week. Investors appeared to welcome the acquisition news, with shares in the ASX home furnishings company up 4.1% on 25 November compared to the previous close.

The debt-free acquisition will see Adairs pay $74 million in cash alongside a $6 million share placement to Focus CEO, Rob Santalucia, who will remain at the helm of Focus.

Adairs noted it now owned and operated 3 vertically integrated brands in the home retail category — Adairs, Mocka and Focus on Furniture.

Focus brings to the mix 23 stores in Australia with a revenue of more than $150 million in FY 2021. The company boasted revenue of more than $150 million in FY2021.

Adairs already has 160 stores across Australia and New Zealand and added some 950,000 customers to its loyalty program Linen Lovers as of the end of the 2021 financial year.

Adairs share price snapsot

The Adairs share price has climbed 12.85% over the past 12 months, despite ongoing COVID-19 lockdowns which have impacted some companies in the retail sector. Adairs shares are up 5.57% year to date.

The post What happened with the Adairs (ASX:ADH) share price today? appeared first on The Motley Fool Australia.

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• Top ASX shares to buy in December 2021
• Here’s why ASX retail shares are in the spotlight on Tuesday
• Is the Adairs (ASX:ADH) share price a buy following the company’s latest acquisition?
• Leading brokers name 3 ASX shares to buy today
• Top brokers name 3 ASX shares to buy next week

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO. 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 Limited (ASX: AGL) share price continues to trade around all-time lows as the end of 2021 inches closer. Though, the energy giant is getting ready for a fresh new look in the year to come. This will take shape in the form of the company’s planned demerger.

Between now and then, AGL is believed to be looking at ways of getting some more cash onboard. Considering the impacted profitability and free cash flow, additional capital will be needed to help the two demerged businesses in meeting their expenses.

For this reason, rumour has it that AGL Energy is looking at tapping the United States bond market for $500 million.

Where can you find a spare $500 million?

Ahead of the creation of AGL Australia and Accel Energy, sources suggest AGL is chasing $500 million.

Business changes usually come at a cost. Whether that involves restructures, acquisitions, or — in this case — demergers. Although, the main concern for the company seems to be the reasonably high level of debt.

According to reports, AGL Energy is looking overseas to the United States to put its balance sheet in better order. The Australian energy company is rumoured to be seeking $500 million through the US bond market. A number of investment banks including Bank of America, JPMorgan, and Citi are said to be on board with assisting in the deal.

It appears the energy retailer is not exploring an equity raise as an alternative. This idea was shot down by AGL chair Peter Botten in the company’s annual general meeting. Others have noted the difficulty that AGL might have had if it did opt for a capital raise given the weakness in AGL shares.

Furthermore, the rumoured deal is understood to be a part of the company’s debt refinancing. Although, some onlookers are concerned about increased debt levels.

Company debt was around $3.06 billion at the end of June 2021. Whereas, AGL’s equity came in at $5.5 billion — giving the business a debt to equity ratio of 55.6%. Above 40% is considered to be relatively high for a company.

AGL shares under pressure

It has been nothing but pain for AGL shareholders since April 2017, when the company reached an all-time high of ~$27 per share. Since then, it has been a bumpy ride to the downside as increased environmental scrutiny has plagued the energy provider.

Simultaneously, an uprising in renewable assets has pressured the wholesale price of electricity. In turn, AGL’s operations have been feeling a pinch. Both revenue and earnings have been in decline since mid-2020 as the company ploughs money into transitioning its business.

Finally, on a year-to-date basis, AGL shares have fallen 56%. For context, the S&P/ASX 200 Index (ASX: XJO) is up 10% over the same period.

The post Own AGL (ASX:AGL) shares? Here’s how the company could be set to raise $500m appeared first on The Motley Fool Australia.

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• The AGL (ASX:AGL) share price is at all-time lows. Here’s why this fundie still thinks it’s poor value

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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Shares in meal-kit service Marley Spoon AG (ASX: MMM) struggled through most of Wednesday, but came out on top after nudging past yesterday’s closing price.

Marley Spoon shares started the day flat before trading as low as 80 cents during intraday trading. They finished the day at 82 cents apiece, up 0.62%.

It’s been a bumpy ride down south for the company these past few months, and shares are now trading at 3-month lows after coming off a high of $2.09 in September.

The Marley Spoon share price is now down 20% for the month as a result, and lags the benchmark S&P/ASX 200 Index (ASX: XJO) by a considerable amount in that time.

What’s up with Marley Spoon shares lately?

Investors began selling Marley Spoon shares in droves again in October when the company released its update for the quarter ending 30 September 2021.

During the 3 months, the company grew revenue 14% year on year to 79.2 million euro. It left the quarter with 33 million euro in cash on the balance sheet – a 17% jump from the previous year.

However, investors were quick to compare Marley Spoon’s H1 FY21 trading update – where sales grew by 38% – and its most recent results.

Investors were equally spooked by the company’s guidance downgrade. It now estimates a lower sales growth of 26%–28% compared to previous guidance of 30%–35% growth at the top line.

The company blamed its downward revision of guidance on “volatile customer behaviour” at the time, alongside “staffing challenges, higher labour rates, and food cost inflation”.

Nonetheless, investors violently sold off their Marley Spoon positions following the trading update, and the share price tanked in vertical fashion in the days afterwards. It hasn’t reversed course since.

Since then, the market hasn’t wanted a slice of Marley Spoon’s meal-kit service. For example, today total volume of Marley Spoon shares traded was at just 30% of its 4-week average volume. For comparison, the day before its trading update, it traded on a volume of 1.25 million shares.

Without the forward earnings guidance to bite into, it appears investors have left the Marley Spoon party and show no sign of returning any time soon.

Marley Spoon share price snapshot

It’s been a year of pain for Marley Spoon shareholders, with the share price collapsing 50.5% in the last 12 months. It has tanked 63.6% just this year to date.

These results are well behind the benchmark ASX 200 index’s return of around 10% in the last year.

The post The Marley Spoon (ASX:MMM) share price just hit another 52-week low. What’s going on? appeared first on The Motley Fool Australia.

More reading

• Own AGL (ASX:AGL) shares? Here’s how the company could be set to raise $500m
• Archer Materials (ASX:AXE) share price leaps 4% on biochip update
• Should Bank of Queensland (ASX:BOQ) shares be on your Christmas list? Here’s what top brokers think
• Here’s why the Worley (ASX:WOR) share price whirled lower today
• Here’s what happened with Bitcoin’s record-breaking November

The author has no positions in any of the stocks mentioned. The Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Marley Spoon AG. The Motley Fool Australia owns shares of and has recommended Marley Spoon AG. 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 Archer Materials Ltd (ASX: AXE) share price was charging ahead today following a technical progress update on the company’s biochip.

At market close, the Archer share price was 4.9% higher at $1.285.

Archer progresses biochip development

Investors were driving up the Archer share price today after the materials technology company announced a major breakthrough with its biochip technology.

In a release, Archer advises it has developed its first biochemical reactions for detecting nucleic acid sequences. This allows small droplets of biological samples to be processed and analysed using special sensor devices integrated within the biochip.

Nucleic acid markers are useful for monitoring a person’s health and determining if a disease is present. Commonly known techniques to analyse biological samples for nucleic acids include polymerase chain reaction (PCR). The techniques developed by Archer have special significance because COVID-19 is detected through PCR testing.

Last month, the company used advanced fabrication techniques to achieve features like hair-thin microfluidic channels. To put this in perspective, these channels are less than 20 micrometres in width (about 3x thinner than human hair).

The channels enable sample processing as well as transportation into smaller built-in sensors for analysing biochemical targets.

The latest development marks another milestone in Archer’s pursuit of commercialising its biochip technology.

Best-in-class capabilities in nanofabrication is a global competitive advantage in the multibillion-dollar point of care medical diagnostics industry. There are few companies developing and commercialising biochips because it’s difficult to achieve precision engineering at the nano scale.

What did Archer management say?

Archer CEO Dr Mohammad Choucair commented:

This is a significant achievement, as the Company has now, with its in-house capability, developed the biochemical foundations to potentially allow for future operations and applications of Archer’s biochip in the detection of various diseases.

There are few examples of lab-on-a-chip technologies that detect nucleic acids without the need for PCR. Archer’s biochemical processes could potentially allow for on-chip detection of pathogens, with several practical advantages, including eliminating cold-logistics supply chain requirements and the need for PCR, if favourable.

About the Archer share price

The Archer share price has surged by 138% in the past 12 months. However, the company’s shares are still more than 50% off their all-time high of $3.08 reached in mid-August.

Based on valuation grounds, Archer presides a market capitalisation of $318 million, with 247 million shares on issue.

The post Archer Materials (ASX:AXE) share price leaps 4% on biochip update appeared first on The Motley Fool Australia.

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• Why the Archer Materials (ASX:AXE) share price is charging 5% higher

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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Shares in Bank of Queensland Limited (ASX: BOQ) have been on the downward slope these past 2 months. In fact, they have lost more than 21% in that time.

The bank’s share price tumbled off a 1 October closing high of $9.72 and hasn’t recovered since. Instead, Bank of Queensland shares have set lower-highs and lower-lows in that time.

Whereas the S&P/ASX 200 Financials Index (ASX: XFJ) has slipped more than 8% in the last month, the bank’s shares are down 13%.

In light of this, we’ve sifted through the scrolls of wisdom from the experts to try and understand what the outlook for Bank of Queensland investors might be this Christmas.

Here’s what we found from leading investment banks Jefferies and JP Morgan.

Is Bank of Queensland a buy for Christmas?

It depends on where you look and who you ask for this one. Analyst sentiment is spread thinly between bullish investors and those on the sidelines.

According to the team at Jefferies, however, perhaps not. The firm has a neutral rating on Bank of Queensland shares and values the bank at $7.50/share. At the time of writing, that implies a downside potential of around 2%.

Jefferies notes that Bank of Queensland’s estimates for strong housing growth accompanied by a contraction in net interest margin (NIM) by 0.05%–0.07% in FY22 are susceptible to risk.

Analysts at the firm commented that “it’s hard to think the BOQ NIM will not be similarly impacted” from risks other majors have faced, resulting in “NIM erosion” this year.

As such, the bank is Jefferies’ least-preferred name out of all the Australian majors.

Meanwhile, the team at JP Morgan has a different opinion on the direction of Bank of Queensland shares.

It notes the bank’s 2H FY21 cash earnings were 2% above internal estimates. It’s also satisfied with its FY22 guidance outlook.

JP Morgan reckons that Bank Of Queensland appears “well positioned to deal with industry headwinds”. It arrives at this stance partly due to near-term funding cost savings, which have further to fall than peers.

In addition, the firm sees potential for “optimisation in both its own deposit book and the funding mix of ME Bank.” and notes, “cementing improvements in broker channel performance and the digital offering to customers.”

The broker points to Bank of Queensland’s large valuation discount from its peers. It argues the market is not paying for “synergies from the ME Bank acquisition, albeit we acknowledge that this will require careful execution.”

In contrast to Jefferies, it likes Bank of Queensland the best out of all the majors alongside National Australia Bank Ltd (ASX: NAB). It slapped an outperform rating and $10 price target on the shares. That implies an upside potential of 31% at last check.

What’s the sentiment on BOQ’s share price?

In fact, of all the firms covering Bank of Queensland, 75% have it as a buy. Just 1 has it as a sell. The remainder are neutral on its share price.

Both Credit Suisse and Morgans are most bullish. These firm value Bank of Queensland at $11 per share and placing outperform and add ratings, respectively.

The consensus price target amongst this group is $9.62, in itself implying a margin of safety of 26% at the time of writing.

Evans and Partners disagrees, and reckons it is a sell with an $8 price target – a step above what Jefferies has the bank valued at.

So is Bank of Queensland one for under the Christmas tree this year? According to the bulk of analysts covering the share, most are bullish on the direction of its share price and recommend it as a buy.

However, analyst recommendations are only one drop in the bucket of investment reasoning one must undertake before making that decision. Remember to conduct your own due diligence before deciding whether it goes on your Christmas list.

The post Should Bank of Queensland (ASX:BOQ) shares be on your Christmas list? Here’s what top brokers think appeared first on The Motley Fool Australia.

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• What’s JP Morgan saying about ASX 200 bank shares?
• Are Bank of Queensland (ASX:BOQ) shares really going to pay a 10% dividend yield?
• Here’s why Morgans tips 30% upside for the Bank of Queensland (ASX:BOQ) share price
• What is Bank of Queensland (ASX:BOQ) doing to compete with BNPL rivals?
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The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in industrial engineering solutions company Worley Ltd (ASX: WOR) edged 0.42% lower today as investors digested an investor presentation released by the company.

In its presentation, the company gave a broad level overview of its situation, its strategy and the total addressable market (TAM) it intends to position itself in.

Alas, here are some of the takeouts from Worley’s investor presentation today.

What did Worley present today?

In the presentation released to investors earlier, Worley covered its strategy moving forward into FY22 and beyond. The company detailed several of its growth areas and gave a high-level view of how it intends to get there.

For instance, Worley highlighted that it is partnering with Shell to produce sustainable aviation fuel and renewable diesel after Shell awarded the company a “significant low-carbon fuels services contract in The Netherlands”.

The facility is expected to be one of the biggest of its kind in Europe and will produce 820,000 tonnes of sustainable aviation fuel (SAF) and renewable diesel every year, Worley says.

With respect to its existing asset base, it intends on adapting assets by exploring solutions such as extending, repurposing, or decommissioning, plus will focus on sustainable solutions to improve efficiency.

Worley states the “foundation for growth” in this domain is built on approximately 200 projects in the “FY22 pipeline in adaptation, asset life management and systemic efficiency”.

The company also gave a broad overview of the Direct air capture (DAC) to fuels project. This venture is expected to be the first commercial scale project of its kind and is anticipated to produce “up to 100 million litres of ultra low carbon fuel annually”.

Aside from this, Worley also detailed its role at the Hu’u Project – a large high-grade copper and gold ore body in Indonesia. The site is owned by Vale S.A. and PT Aneka Tambang but is being studied by PT Sumbawa Timur Mining.

Worley has been appointed as the mining study manager with additional responsibility for reporting and estimating all contributors to the study.

Throughout the presentation – which was light on financials – Worley reiterated that its purpose was in “delivering a more sustainable world” whilst its ambition is to be “recognised globally as the leader in sustainability solutions”.

Worley share price snapshot

It’s been a horrendous year for Worley shareholders who are swimming in a sea of red across all time frames. In the past 12 months, the Worley share price has slipped over 27% after losing more than 17% this year to date.

In the past month alone, it has fallen over 12% and is also down 3% for the week. Needless to say, the Worley share price has lagged the benchmark S&P/ASX 200 Index (ASX: XJO)’s return of around 10% in the last year.

The post Here’s why the Worley (ASX:WOR) share price whirled lower today appeared first on The Motley Fool Australia.

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• The top performing ASX 200 energy shares in October unmasked

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

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Bitcoin (CRYPTO: BTC) broke into new all-time highs in November.

The world’s first and biggest crypto, with a current market cap of US$1.2 trillion (AU$1.6 trillion) traded for a record US$68,790 on 10 November, according to data from CoinMarketCap.

Bitcoin kicked off November at US$60,629. And, depending on your time zone, the token ended the month worth US$58,120, down about 16% from its fresh record high.

Even with that retrace though, it still closed November up 99.8% from the US$29,087 it was worth on 1 January.

Here are some of the highlights from the month gone by.

What happened with Bitcoin in November?

On 3 November, the Commonwealth Bank of Australia (ASX: CBA) reported that was offering crypto services to its customers.

In doing so, CBA became the first Australian bank to enable its customers to buy, sell and hold cryptocurrencies via its app. Customers will be able to exchange Bitcoin and Ethereum (CRYPTO: ETH), among other leading cryptos. CommBank partnered with global crypto exchange Gemini and blockchain analysis firm Chainalysis for its new crypto service.

First crypto ETF hits the ASX

November also saw the first ASX listed crypto exchange traded fund (ETF) hit the boards. The BetaShares Crypto Innovators ETF (ASX: CRYP) launched on the ASX on 4 November. CRYP doesn’t invest directly in any cryptocurrencies, but rather aims to track the performance of an index providing exposure to global crypto-related companies.

A bit later in the month, the Bitcoin price spiralled higher ahead of its much-anticipated Taproot upgrade. Aside from improving the efficiency of transactions, the upgrade enables better smart contract capabilities, setting Bitcoin up as a more direct competitor to Ethereum. In a case of buy the rumour, sell the news, the price fell over the days immediately following the Taproot upgrade.

Bitcoin fails to live up to haven status in face of Omicron

In the final days of the month, crypto enthusiasts were faced with the reality that Bitcoin wasn’t living up to its status as a potential safe haven during times of market uncertainty, as the price tumbled alongside other risk assets when news of the COVID variant, Omicron, broke.

On 26 November, when investors feared Omicron could derail the global recovery, the gold price gained 0.8%. Bitcoin, on the other hand, tumbled 9.8% in less than 1 hour of trading.

The post Here’s what happened with Bitcoin’s record-breaking November appeared first on The Motley Fool Australia.

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• Can Bitcoin edge out gold and bonds as a future store of value?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. 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 BHP Group Ltd (ASX: BHP) share price ticked up a notch during November following a raft of company announcements. For the month, the mining giant’s shares posted a 12.2% gain, highlighting renewed investor optimism.

And today, the BHP share price is continuing to ride on the momentum, up 1.35% to close at $39.90.

What happened to BHP in November?

Investors pushed the BHP share price higher last month following the company’s annual general meeting (AGM) on 11 November.

Management noted an exceptionally challenging time as COVID-19 disrupted commodity prices and global operations. Despite the complexity, BHP handled the situation by adapting quickly to keep its world-class assets running safely and efficiently.

The company advised that it has a clear strategy to deliver long-term value by repositioning its portfolio towards future-facing commodities.

As such, BHP made strong progress towards meeting its commitments to trim operational and value-chain emissions. At an estimated cost of US$2.4 billion, the miner established a pipeline of decarbonisation projects to decrease emissions by at least 30% by FY30.

Management also discussed the impending end of the group’s dual-listed company structure.

The 20-year-old dual-listed company structure began when BHP Ltd merged with Billiton Plc. The corporate structure enabled both companies to amalgamate without legally acquiring or merging, creating a tax-efficient business structure.

Shareholders are expecting to receive a 1-for-1 swap of PLC shares to BHP shares.

In a separate release dated 22 November, the company provided an update on the proposed merger of its petroleum business with Woodside Petroleum Limited (ASX: WPL). It stated that a binding share sale agreement (SSA) had been entered, paving the way to create a global energy company.

BHP is aiming to complete the deal in the second quarter of 2022.

The after-market release sent the BHP share price 4% higher the following day, hitting a 1-month high at the time.

BHP share price summary

Since the beginning of the year, the BHP share price has moved in circles due to a volatile market environment. The share price is down 7.34% over the past 11 months.

This is in stark contrast to August when the BHP share price was tracking about 25% higher year-to-date.

Based on today’s price, BHP presides a market capitalisation of $117.7 billion and has approximately 2.95 billion shares outstanding.

The post Why did the BHP (ASX:BHP) share price move up by 12% in November? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. 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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