The S&P/ASX 200 Index (ASX: XJO) has enjoyed a pretty successful day of trading on the ASX boards today. The ASX 200 has finished up with a healthy 0.93% gain to 7,392 points. But one ASX 200 share put the broader index to shame. That would be the Orocobre Limited (ASX: ORE) share price.

Orocobre shares finished trading today at $9.70 each, up a pleasing 6.71% for the day. That’s nearly 7 times the ASX 200’s gains. But nothing shareholders in Orocobre wouldn’t be used to by now. This is a company that’s up roughly 116% year to date in 2021 alone, after all. It’s also up more than 289% over just the past 12 months, and a jealousy-inducing 411% since the 15 May low in 2020.

So what could have sparked such a bullish push upwards today?

Orocobre share price shoots the lights out

Well, it’s not entirely clear, unfortunately. There have been no major news or announcements out of Orocobre this Wednesday, or indeed since Wednesday last week.

However, we see a clear trend playing out on the ASX boards today that could provide some insight. Orocobre is one of the ASX’s most prominent lithium companies. And it is also not the only company in the ASX lithium space enjoying some outsized gains today.

The ASX 200’s biggest lithium play Pilbara Minerals Ltd (ASX: PLS) also enjoyed a robust day in the green today, up 5.43% to $2.33 a share. Its fellow lithium company Galan Lithium Ltd (ASX: GLN) is up 6.25% to $1.62 a share. Even the ETFS Battery Tech & Lithium ETF (ASX: ACDC) is seeing some gains.

So we can probably say with some confidence that we saw a sector-wide move here today.

But why?

My colleague James Mickleboro posited a possible explanation in the Fool’s midday market update today: “Investors appear optimistic that clean energy investment will be given a major boost at the COP26 meeting this week.” It’s also worth pointing out that lithium shares like Orocobre are very hot right now, and have seen some wild swings in valuation over the past few months (and years) and sentiment shifts. Put another way, these large swings in lithium companies like Orocobre are not exactly uncommon.

Whatever the reason behind today’s moves in Orocobre shares, there will no doubt be plenty of chuffed shareholders out there.

At the current Orocobre share price, this ASX 200 lithium company has a market capitalisation of $5.79 billion.

The post Why did the Orocobre (ASX:ORE) share price leap 6% today? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why has the BetaShares Global Cybersecurity ETF (ASX:HACK) share price leapt 7% in a month?
• Why did the Zip (ASX:Z1P) share price have such a lousy month in October?
• ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps

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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Today, the S&P/ASX 200 Index (ASX: XJO) delivered a positive session for investors. At the end of the trading day, the benchmark index finished 0.93% higher at 7,392.7 points.

It would be a challenge to find a poor-performing company on the ASX today. More than 70% of the top 200 companies pushed higher on Wednesday. The upwards climb in valuations was led by financials and lithium miners. Meanwhile, tech and telcos couldn’t keep up with the positive pace, falling into the red.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, AMP Ltd (ASX: AMP) was the biggest gainer today. Shares in the financial services giant jumped 9.30%. The blockbuster intraday performance from the usually tame share price of AMP followed the divestment of Resolution Life Group. Find out more about AMP here.

The next biggest gaining ASX share today was Imugene Ltd (ASX: IMU). The biotechnology company finds itself in the top 10 once again despite no new announcements today. Imugene’s share price climbed an additional 6.73% during today’s session. Uncover the latest Imugene details here.

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

ASX-listed company	Share price	Price change
AMP Ltd (ASX: AMP)	$1.175	9.30%
Imugene Ltd (ASX: IMU)	$0.555	6.73%
Orocobre Ltd (ASX: ORE)	$9.67	6.38%
Pilbara Minerals Ltd (ASX: PLS)	$2.32	4.98%
Whitehaven Coal Ltd (ASX: WHC)	$2.47	4.22%
Mineral Resources Ltd (ASX: MIN)	$39.13	4.04%
Liontown Resources Ltd (ASX: LTR)	$1.945	4.01%
Novonix Ltd (ASX: NVX)	$8.32	3.87%
James Hardie Industries PLC (ASX: JHX)	$53.98	3.83%
BlueScope Steel Ltd (ASX: BSL)	$20.92	3.41%

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

• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why AMP, Eclipx, Paradigm, and Praemium shares are surging higher
• Why has the BetaShares Global Cybersecurity ETF (ASX:HACK) share price leapt 7% in a month?
• Why did the Zip (ASX:Z1P) share price have such a lousy month in October?
• AMP (ASX:AMP) share price leaps 9% on life insurance sale

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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The Arcadia Minerals Ltd (ASX: AM7) share price has had a remarkable day on Wednesday. In fact, its incredible performance places it as the fourth-highest gaining share on the ASX today.

At market close, shares in the battery-focused metals explorer finished at 25.5 cents apiece, up 27.5%. At one point, the Arcadia Minerals share price rocketed 57.5% higher, reaching 31.5 cents per share, setting an all-time high for the company.

Let’s take a look at what all the fuss is about.

Why is the Arcadia Minerals share price soaring today?

The story begins with the Arcadia Minerals share price being placed in a trading halt at the request of the company on Monday. At that time, details were sparse with the request simply stating it was in relation to an announcement of a proposed lithium acquisition. Fast forward to the present and we now know the magnitude of the news.

According to the release, the company’s 50% owned subsidiary known as Brines Mining Exploration Namibia Ltd has conditionally agreed to acquire 100% of three licenses containing an inferred JORC (joint ore reserves committee) mineral resource.

Additionally, the inferred mineral resource contains lithium, potassium, and boron. The company is predominantly interested in the potential for lithium extraction. The licenses to be acquired indicate a resource of 15.1 million tons at 828 parts per million of lithium.

Moreover, the resource area covers only 6% of the acquired exposed clay pans. As such, the company believes there could be potential for further exploration that may result in the expansion of the resource. At this stage, Arcadia plans to commence exploratory drilling in November 2021.

It was noted the resource holds potential for lithium-in-brine aquifers. In response, investors are bidding up the Arcadia share price today.

Terms of the deal

The details of the license acquisitions are a little complex, but here they are for perusal:

• The right to acquire 25% for a consideration of ~A$87,000 by May 2022
• ~A$176,000 for the right to acquire 100% within 2 years following initial acquisition
• A further ~A$615,000 payable following the completion of a definitive feasibility study showing over 500,000 tons of lithium carbonate equivalent from the brines.

Additionally, the three mining licenses are adjacent to the company’s existing Bitterwasser lithium project. This existing project covers an area of 3,438 square kilometres. Granting shareholders approve the acquisition, Arcadia’s landholding will increase to 4,031 square kilometres.

The Arcadia Minerals share price is up 31% since its listing in June this year.

The post Arcadia Minerals (ASX:AM7) share price rockets 27% on lithium project update appeared first on The Motley Fool Australia.

More reading

• Why is the ANZ (ASX:ANZ) share price having such a stellar day?
• Why the Talga (ASX:TLG) share price is charging 10% higher today
• These top brokers weigh in on the IAG (ASX:IAG) share price
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• How did the AGL (ASX:AGL) share price perform in October?

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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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has taken off today amid the bank’s release of numerous annual reports.

While none of the reports are marked price sensitive, the market was bidding up the ANZ share price on Wednesday.

The bank has also featured in reports a Federal Court case originally brought against it has been branded a calamity.

At the close of trade, the ANZ share price is $28.47, 2.26% higher than its previous close.

Let’s take a closer look at the news surrounding ANZ on Wednesday.

ANZ share price up amid a flurry of reports

The ANZ share price enjoyed a day in the green today amid the release of its 2021 annual report, its environmental, social, and governance (ESG) supplement, and various other reports.

The reports follow from ANZ’s financial year 2021 results, released to the market last week.

The bank’s ESG supplement noted it invested $139.7 million in communities in 2021. It also put $1.43 billion towards more affordable, accessible, and sustainable homes to buy and rent since 2020.

It also boasts that 35.3% of its leadership teams are women. Further, it has reduced its scope 1 and 2 greenhouse gas emissions by 47% on its 2015 baseline.

Additionally, in ANZ’s annual report, CEO Shayne Elliott commented on the bank’s future:

Customers want the same experience in banking they can get from online shopping or travel – convenient, safe, always on. At the same time… investors and regulators are rightly more sensitive to banks operating in an ethical, environmentally sustainable and transparent manner. Politicians are also holding the industry to greater account… Fortunately, we had already made significant progress in readying the organisation for the next phase of our evolution.

For the last couple of years we have been working on a program we’ve internally referred to as ‘ANZx’. This [will improve] the digital capability, the digital ‘mindset’ if you like, of our entire organisation. The first phase of this will be the launch soon of a new proposition we are calling ANZ Plus…the very first step in what will be a multi-year roll out of what will eventually become the cornerstone of how our retail and small business customers bank with us in the future…

Market watchers can delve deeper into ANZ’s APS 330 Pillar 3 Disclosure, upcoming dividend and annual general meeting dates, and corporate governance statement.

What’s next for ANZ?

ANZ has outlined some of its future plans, including the abovementioned ANZ Plus.

ANZ Plus is part of a “digital transformation”. It will include a mobile app, 2 new bank account offerings, and access to financial coaches.

The bank’s digital transformation will also see its institutional banking business become simpler and more connected. For example, ANZ has built a business to allow its customers to integrate their systems with the bank’s, to automate payment reconciliation processes.

Finally, ANZ pointed to its recently launched small business digital lending platform, ANZ GoBiz, as a marker of the future.

GoBiz’s process means the bank can now provide loans in 2 days. Previously, the same process could take more than 30 days.

ANZ in the headlines

However, ANZ’s newly released reports aren’t the only happenings potentially exciting the market today.

A Federal Court judge has reportedly slammed the Commonwealth Director of Public Prosecutions (CDPP) over a criminal case originally brought against ANZ, Citigroup (NYSE: C), Deutsche Bank (NYSE: DB), and 6 executives.

The prosecution claims the accused acted as a cartel, colluding to control shares not sold during a $2.5 billion capital raise conducted by ANZ in 2015.

Last week the prosecution dropped charges against ANZ and its executive, Rick Moscati.

According to reporting by The Australian, today Justice Michael Wigney said the case was a “complete shemozzle”. CDPP reportedly must file new charges before 24 November.

The post Why is the ANZ (ASX:ANZ) share price having such a stellar day? appeared first on The Motley Fool Australia.

More reading

• Can the Macquarie (ASX:MQG) share price break new highs over $200?
• Brokers name 2 ASX 200 dividend shares to buy
• Top ASX shares to buy in November 2021
• The ANZ share price is up 24% so far in 2021. Here’s why
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Talga Group Ltd (ASX: TLG) share price is off to the races today, up more than 10% in late afternoon trading.

Below, we take a look at what’s driving ASX investor interest in the battery anode and advanced materials company.

Digesting the quarterly report

The Talga share price has been in focus since the company released its quarterly activities report on Friday, after market close. Since Friday’s close, shares are up 13%.

Among the highlights over the past quarter, the company noted its battery anode product, Talnode-C was certified as the greenest graphite anode in the world. The independent Life Cycle Assessment was carried out by Hitachi ABB Power Grids. According to the release, Talnode-C produces “96% less greenhouse gas than incumbent EV battery anode produced in China”.

The company also reported that construction of its Electric Vehicle Anode qualification plant in Sweden is proceeding on track. Meanwhile the development of its anode and graphene products from its existing facilities in Germany, Japan and the United Kingdom are continuing as planned.

On the mining side, Talga commenced trial mining during the quarter at its Vittangi Graphite Project in Sweden. It plans to use the feed ore for expanded testing of Talnode-C.

Commenting on the company’s progress, Talga’s managing director, Mark Thompson said:

During the quarter we made strides in achieving key long term strategic goals, focusing on financing our first commercial anode project and toward future expansions to become the largest anode producer outside of Asia.

We have also been successful in our exploration and trial mining of what is already Europe’s largest natural graphite resource, towards securing the critical raw material needed to produce the world’s greenest anode for more sustainable batteries.

As at 30 September, Talga had a cash balance of $46 million.

Talga share price snapshot

The Talga share price has gained 54% over the past 12 months. That’s more than twice the 23% gains posted by the All Ordinaries Index (ASX: XAO) during that same period.

Over the past month, Talga shares are up 21%.

The post Why the Talga (ASX:TLG) share price is charging 10% higher today appeared first on The Motley Fool Australia.

More reading

• Talga (ASX:TLG) share price edges lower on Vittangi graphite project update

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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Oh, what a ride it has been for Insurance Australia Group Ltd (ASX: IAG) over the past month or so.

Its share price chart looks as if it was drawn by a four year old trying to colour between the lines when zooming out and scoping out the last few weeks.

IAG shares have come off a high of $5.35 since mid-October, after first regaining some steam in the first half of the month.

Now, the IAG share price is swimming in a sea of red across all time frames from today up until 12 months of negative returns.

What’s led us to this point?

IAG the company has been marred by a series of controversies that in all fairness have been drawn out over the last three years.

Central to the IAG’s share price downfall in recent times is a set of shock weather events, in the form of severe storms and hail activity, that will hurt its earnings potential for FY22.

These events, which have caused widespread damage in South Australia and Victoria late last month, will go on to have a direct impact on IAG’s net natural peril costs for FY22, according to the company.

Despite a robust quarterly update, where IAG shone in its performance, the company then had to bump up its claim cost estimates by almost 36% to $1.045 billion from $765 million following the freak weather.

Consequently, the insurance giant now forecasts an FY22 reported insurance margin of 10% to 12% – a significant down-step from previous guidance of 13.5% to 15.5%.

News of the downgraded guidance sent IAG shares plummeting towards the floor in an almost vertical fashion after it had already perished another 4% from other controversies.

The IAG share price has shown no signs of recovering and is currently down a further 13% since the guidance update.

What do brokers have to say about IAG shares?

With all of this activity surrounding the insurance giant, the analyst teams of several leading brokers have chimed in with their outlook on IAG’s share price.

Analysts at Morgans are adamant that IAG shares look cheap with this recent pullback, and believe there are gains to be made ‘for the patient investor’.

Whilst the broker trimmed its price target by 5% to $5.36 on IAG shares, it maintained its add recommendation in a recent note, as it expects insurance premiums and a profitability boost beyond FY22 for the insurer.

The team at fellow broker Credit Suisse hold the same mantra, also cutting its price target by 5% to $5.60, but maintaining its outperform rating on the share.

It reckons that IAG will certainly absorb the net peril cost increase in FY22, but likes the share’s current valuation and also the current cycle we are in with interest rates.

Meanwhile, Morgan Stanley doesn’t hold as rosy of an outlook for IAG investors.

The broker notes that “over the past 10 years, IAG has tilted its business model towards short-trail lines, which tend to be more catastrophe risk prone”.

It reckons these challenges will add pressure to IAG’s reinsurance renewals, which could bode in poorly for its share price.

This is compounded by an expected La Nina summer, it says. Therefore, Morgan Stanley expects further downgrades for the company.

Fellow broker UBS also agrees, retaining its neutral rating on the company in a recent note. It sees “downside risk to earnings, given limited sideways reinsurance cover remaining” if perils activity remains high.

IAG’s downgrade was far worse than the broker was expecting, and is cautious on regulatory proceedings the company is currently embroiled in.

Collectively, the opinion appears to be balanced amongst this group of brokers, with 50% advocating IAG could be a good buy, whereas the rest feel there are too many risks embedded into the investment debate.

IAG shares have slumped 7.5% into the red in the last 12 months after sliding a further 5.5% this year to date.

The post These top brokers weigh in on the IAG (ASX:IAG) share price appeared first on The Motley Fool Australia.

More reading

• Why Bubs, Dalrymple Bay, IAG, and Redbubble shares are dropping
• Top brokers name 3 ASX shares to buy today
• Why Ingenia, IAG, Vulcan, and Westpac shares are dropping
• ASX 200 (ASX:XJO) midday update: Netwealth’s merger proposal, IAG sinks
• IAG (ASX:IAG) share price sinks 6% on guidance downgrade

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia 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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The S&P/ASX 200 Index (ASX: XJO) is having a reasonably strong day of trading this Wednesday. At the time of writing, the ASX 200 is up a healthy 0.9% to 7,390 points. But let’s dig into these gains a bit and see which ASX 200 shares are currently topping the trading volume charts so far today, according to investing.com.

3 most active ASX 200 shares by volume on Wednesday

Whitehaven Coal Ltd (ASX: WHC)

ASX 200 coal miner Whitehaven is our first share experiencing elevated trading volume today. So far, this company has seen a sizeable 16.02 million shares traded on the markets. This appears to be the result of a meaningful jump in the Whitehaven share price thus far.

As it stands at the time of writing, Whitehaven shares are up a healthy 3.8% to $2.46 a share this Wednesday. With no other news or developments out of Whitehaven, this is probably behind the elevated volumes we are seeing today.

AMP Ltd (ASX: AMP)

ASX 200 wealth manager AMP is our next share up. This embattled company has seen an impressive 16.4 million of its shares swap hands so far on Wednesday. This appears to be a consequence of AMP’s big announcement this morning.

The company announced that it is unloading its remaining 19.13% stake in Resolution Life Australasia for $524 million. This has resulted in the AMP share price exploding higher today – it’s currently up 9.77% at $1.18 a share. This announcement and share price move are almost certainly behind this elevated trading volume.

Pilbara Minerals Ltd (ASX: PLS)

Our final and most traded ASX 200 share so far today is none other than lithium producer Pilbara Minerals. Pilbara has seen a hefty 19.5 million of its shares bought and sold so far this Wednesday.

This appears to be the result of the pleasing jump the Pilbara share price has experienced today. The lithium company is presently up 5.2% to $2.32 a share. The entire ASX lithium sector is enjoying some healthy gains today, with Pilbara a major beneficiary. It’s this jump that has likely resulted in so many Pilbara shares flying around the share market today.

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

More reading

• Why AMP, Eclipx, Paradigm, and Praemium shares are surging higher
• Why has the BetaShares Global Cybersecurity ETF (ASX:HACK) share price leapt 7% in a month?
• Why did the Zip (ASX:Z1P) share price have such a lousy month in October?
• AMP (ASX:AMP) share price leaps 9% on life insurance sale
• ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps

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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October wasn’t the prettiest month for the AGL Energy Limited (ASX: AGL) share price. While the energy retailer wasn’t the worst performer on the S&P/ASX 200 Index (ASX: XJO) – that honour went to Whitehaven Coal Ltd (ASX: WHC), falling 22.3% – it also didn’t do shareholders any favours with a 1.2% decline.

At the start of the month, AGL shares were commanding a $5.79 price tag. Yet, after a month of events and news, the company’s valuation finished 1.2% lower.

Shareholders are likely not happy with this wealth diminution. Though, it sure beats the diabolical 1-month performance of October 2020, which witnessed the AGL share price plunge 8%.

Nevertheless, today we recap the month that has been for the embattled energy retailer.

What happened in October?

While there weren’t many announcements from AGL directly, it was a busy month for energy-related news more broadly. But before we jump the gun, let’s take a look at what the company shared with the market in October.

The first significant event was Macquarie Group Ltd (ASX: MQG) and its controlled bodies ceasing to be a substantial shareholder. This comes as the investment bank continues to plough a significant amount of capital into renewable energy. As my Fool colleague Tristan Harrison covered, Macquarie has deployed A$6.64 in renewable energy for every A$1 invested in ‘conventional’ energy.

Beyond this, the month was also peppered with industry-specific news that might have skewed AGL investors. For instance, my colleague Brooke Cooper covered an energy expert’s predictions of the demise of coal. This may have potentially weighed on the AGL share price.

In short, Energy Security Board chair Dr Kerry Schott revealed an expectation for coal-fired electricity to be removed from the grid by 2040. This cessation would be more than 10 years ahead of the current schedule.

Additionally, Capgemini’s 23rd edition of the World Energy Markets Observatory pointed out the utilities sector. To be precise, the report’s number 1 priority is, “Utilities transformation roadmaps must be reconsidered in a post-COVID world” for the transition to carbon neutrality.

While AGL is taking on the challenge to an extent, investors might be worried about the costs. In FY21, bottom-line earnings came in at a loss of $2.06 billion. During the period, AGL forked out $357.6 million to gain a 20% stake in Tilt Renewables’ Australian operations.

Analysts take on the AGL share price

Contrary to the current trajectory, analysts at Ord Minnett have forecast a brighter future for the AGL share price. According to its assessment, the company looks appealing at its current valuation, so much so that it could make for a potential takeover target.

As such, the broker has assigned AGL with a share price target of $7.55 and a buy rating.

The post How did the AGL (ASX:AGL) share price perform in October? appeared first on The Motley Fool Australia.

More reading

• Is the AGL Energy (ASX:AGL) share price a value trap?
• Why is the AGL (ASX:AGL) share price having such a good start to the week?
• These are the 5 highest yielding dividend stocks in the ASX 200
• Why has the AGL (ASX:AGL) share price climbed 14% in a month?
• Own AGL shares? Here are the World Energy Markets Observatory’s future priorities

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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As it turns out, the Australian share market didn’t exactly have a fantastic month over October. The S&P/ASX 200 Index (ASX: XJO) ended up losing roughly 0.1% over the month that was. Yawn. But one ASX 200 blue chip share managed a far more impressive performance. That would be the Wesfarmers Ltd (ASX: WES) share price.

Wesfarmers shares had quite the month, as it turns out. This industrial conglomerate started October at $55.75 a share, and finished up last Friday at $57.58. That’s a healthy gain of 3.3% – and a vast outperformance of the broader ASX 200.

So what went so right for Wesfarmers over the month just gone?

Why did the Wesfarmers share price have such a strong October?

Well, we didn’t really see many meaningful updates or news from Wesfarmers over October. The company did release the Chairman and Managing Director addresses from its annual general meeting AGM) on 21 October, which my Fool colleague Mitchell dug a little deeper into last month. But there was not much in the way of new developments there.

Possibly, the largest piece of news out of Wesfarmers over October was the announcement that the company acquired a 19.3% stake in Australian Pharmaceutical Industries Ltd (ASX: API) from Washington H. Soul Pattinson and Co. Ltd (ASX: SOL).

Wesfarmers has been pursuing a full acquisition of API for a while now. It currently has an offer of $1.55 per share on the table for the company, which has yet to be formally accepted or rejected by API. Even though Wesfarmers has said it will use this new stake in API to block a rival bid from Sigma Healthcare Ltd (ASX: SIG), this news didn’t seem to provoke much of a reaction from investors at the time.

Broker sentiment could also have played a role in Wesfarmers’ lucrative October. As my Fool colleague Tristan covered earlier in that month, broker UBS had rated Wesfarmers as a ‘buy’, with a 12-month share price target of $62. That implies a further upside of 5.9% on today’s share price of $58.56 (at the time of writing). Perhaps this too played a role in Wesfarmers’ strong month.

Whatever the real reason is as to why Wesfarmers shares enjoyed such pleasing gains in October, no doubt it has left a lot of shareholders very pleased by Halloween.

At the current Wesfarmers share price of $58.56, this company has a market capitalisation of $66.35 billion, a price to earnings (P/E) ratio of 27.8 and a dividend yield of 3.11%.

The post Why did the Wesfarmers (ASX:WES) share price have such a great month in October? appeared first on The Motley Fool Australia.

More reading

• What were the best performing ASX real estate shares to hold in October?
• What’s going on with the Wesfarmers (ASX:WES) API takeover bid?
• JB Hi-Fi (ASX:JBH) share price jumps on broker upgrade
• Why has the Wesfarmers (ASX:WES) share price leapt 7% in 2 weeks?
• Why Citi has a sell rating on the Wesfarmers (ASX:WES) share price

Motley Fool contributor Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 300 (ASX: XKO) struggled in October. The index of the top 300 listed Aussie shares only barely managed to close the month in the green, finishing up 0.1%.

But not all stocks struggled last month.

In fact, the top 3 performing ASX real estate shares each returned more than 60 times the gains posted by the index.

We take a look at those outperformers below.

How did the top 3 ASX real estate shares perform in October?

Coming in with the top gains among the ASX real estate shares is…drum roll please…Arena REIT (ASX: ARF). The real estate investment trust (REIT) gained 6.6% in October, closing the month at $4.50 per share.

There was no price sensitive news released by the company, which invests mostly in childcare, healthcare and government tenanted properties. Although this isn’t the first time Arena has made it onto our top performers list. The REIT also counted amongst the top 5 share price gainers for ASX real estate shares during the 2021 financial year.

Arena pays a 3.36% trailing dividend yield, unfranked.

And number 2…

Coming in at a close number 2, with an October share price gain of 6.5%, is Aventus Retail Property Fund (ASX: AVN). The ASX real estate share owns, manages and develops large-format retail centres in Australia.

The Aventus share price got a big lift on 18 October when the company reported on its intentions to merge with Home Consortium Ltd (ASX: HMC) and HomeCo Daily Needs REIT (ASX: HDN).

At the time, Aventus’ chairman Bruce Carter said:

The merger is attractive for Aventus securityholders, both because of the potential offered by being part of the larger merged groups and because the offer reflects a material premium to Aventus’ trading price and its NTA [net tangible assets].

Aventus pays a 5.25% trailing dividend yield, unfranked.

The third best ASX real estate share performer in October

Rounding off our list of top ASX real estate shares to hold in October is another REIT, BWP Trust (ASX: BWP), which finished October up 6.0%. BWP invests in and manages commercial properties across Australia, notably including warehouses leased to the Wesfarmers Ltd (ASX: WES) hardware giant Bunnings.

Atop potential share price gains, BWP pays a 4.31% trailing dividend yield, unfranked.

The post What were the best performing ASX real estate shares to hold in October? appeared first on The Motley Fool Australia.

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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 shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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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