The Li-S Energy Ltd (ASX: LIS) share price has slumped over the course of its first week on the ASX. Though, it’s still well above the offer price on its prospectus.

This time last week, the market was abuzz waiting for Li-S Energy’s much-anticipated Initial Public Offering (IPO). And Li-S Energy didn’t disappoint.

Li-S Energy debuted on the ASX at 11am last Tuesday. Its stock quickly took off to finish its first day’s trade at $2.33 – a whopping 174% higher than its IPO offer price of 85 cents.

Since then, the company’s stock has slipped 15.02%.

At the time of writing, the Li-S Energy share price is $1.98, 1.49% lower than its previous close and 132% higher than its prospectus’ offer price.

Li-S Energy is working towards developing lithium-sulphur batteries using boron nitride nanotubes and other nanomaterials. According to the company, its lithium-sulphur batteries have greater capacity, stability, performance, and cycle life than traditional lithium-sulphur batteries.

Let’s take a closer look at Li-S Energy’s first week on the ASX.

Li-S Energy share price dips over first 7 days’ trade

The Li-S Energy share price has been slipping over the course of its first week on the ASX despite no price sensitive news being released by the company yet.

In fact, aside from the day of its IPO, Li-S Energy’s stock has only recorded 2 days in the green.

It gained 3.4% on its second day as a listed entity and shot 8.6% higher yesterday for no obvious reason.

Unfortunately, the good sessions haven’t managed to outweigh the bad and Li-S Energy’s stock has been left in the red.

Interestingly, Li-S Energy’s largest shareholder, PPK Group Limited (ASX: PPK), is following a similar trajectory. Since Li-S Energy’s float, the PPK share price has fallen 21%.

Li-S Energy is a spinout of PPK Group, alongside Deakin University and PPK’s BNNT Technology Limited.

PPK currently holds 50.1% of Li-S Energy’s voting power while Deakin has another 13%.

The post Li-S Energy (ASX:LIS) share price falls 15% over its first week on the ASX appeared first on The Motley Fool Australia.

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• Why is the Li-S Energy (ASX:LIS) share price sliding 9% today?
• Why is the Li-S Energy (ASX:LIS) share price tumbling 13% today?
• Why BlueBet, Gold Road, Li-S Energy, & Myer shares are dropping
• Li-S Energy (ASX:LIS) share price up another 3% in second day of trading
• Why PPK (ASX:PPK) and Li-S Energy are this fund’s largest positions

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. 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 REA Group Limited (ASX: REA) share price has come under pressure on Tuesday morning.

At the time of writing, the property listings company’s shares are down 1.5% to $153.65.

This means the REA’s shares are now trading flat in 2021.

Is the REA share price good value?

While 2021 has been underwhelming for the REA share price, one leading broker appears to believe this could be a buying opportunity for investors.

According to a recent note out of Goldman Sachs, its analysts have a buy rating and $190.00 price target on the company’s shares.

Based on the current REA share price, this implies potential upside of over 23%.

What did the broker say?

Goldman is expecting REA’s listings to fall in FY 2022 because of lockdowns and the Federal Election.

Nevertheless, the broker remains very positive on the REA share price due the prospect of positive jaws (when income grows quicker than sales) and margin expansion.

It explained: “We now forecast FY22E listings to decline -3% (from -1%) given: (1) SYD/MEL lock-downs in 1H22 – although these listings will likely just be deferred to 2H22; (2) Federal Election in 2H22, albeit this will be a less significant impact than prior Elections given no proposed changes to Negative Gearing; (3) Strong 2H21 comps, with REA believing listings volumes were above average in this period. They also acknowledged cost inflation (but still guided to positive jaws in FY22) given the ongoing war for talent. We outline staff cost (as share of total costs) and forecast margin expansion across our classifieds coverage – with consensus forecasting > 100bps expansion for SEK/DHG in FY22E.”

All in all, Goldman believes the company is well-placed to deliver solid earnings growth in the coming years. It expects REA’s net profit to grow 13.7% in FY 2022 to $373 million and then 18.2% to $441 million in FY 2023.

Based on this, the broker feels the REA share price is trading at an attractive level for investors.

The post Why this broker sees 23% upside in the REA (ASX:REA) share price appeared first on The Motley Fool Australia.

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• 2 excellent ASX growth shares named as buys
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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 REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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For about the last year or so, investors have snapped up ASX shares of physical retailers, with the logic that they have excellent post-COVID recovery prospects.

So are there any retail sector stocks left that haven’t already had their resurgence priced in?

TAMIM Asset Management head of Australian equities Ron Shamgar reckons there are still some gems if you look past the usual suspects.

“There’s only so many TVs and couches you can buy,” he told Switzer TV Investing.

“So we’re looking at a few retailers that are not as obvious to most investors.”

He added that retailers would benefit from a wave of “revenge spend” in the coming months.

“We’re all sick of being stuck at home and being locked down for a few months,” he said. 

“People, as soon as they get the chance, they’re going to spend, they’re going to shop, they’re going to go out. They’re not going to spend a minute at home… There’s going to be a huge boost to the economy.”

Younger folks are ready to unleash after lockdown

Shamgar’s first pick was youth apparel retailer Universal Store Holdings Ltd (ASX: UNI).

“They, in my opinion, will be one of the biggest beneficiaries of that revenge spending thematic,” he said.

“The younger demographic, they’re all going to go out to bars and restaurants… Everyone’s going to want the latest fashion trends to go out [in].”

Shamgar also likes Universal’s store growth potential.

“They have 68 stores currently in Australia, but they’re targeting at least 100. And they have a clear path to those stores because they’re not [yet] respresnted in all the main shopping centres,” he said.

“We think they can get to 100 within 3 years. And the market loves a good store rollout growth story for a retailer.”

The company showed positive results for the 2021 financial year, according to Shamgar.

“They reported 36% revenue growth to $210 million. And It’s a very profitable business — EBIT was up 86% to $44 million.”

The TAMIM team thinks Universal shares are worth $9. On Friday afternoon, they were trading for $7.95, which is more than 44% up for the year thus far.

These ASX shares smell good

Scented candle and diffuser merchant Dusk Group Ltd (ASX: DSK) is another retail chain Shamgar has high hopes for.

On Friday afternoon the stock was going for $3.12, which is a nice 56% lift from last year’s initial public offer price of $2.

Shamgar’s team reckons it has more to run though, calculating that it’s worth $4.

“It’s a really nice experience to go into the stores — it smells really nice,” he said.

“10% of its current market valuation is in net cash… And it’s paying a 10% dividend yield as well, so that’s quite impressive.”

Like Universal, Dusk has some store expansion potential.

“Longer term we think they’re going to expand outside of Australia, into New Zealand and the UK, which is really the key for PE re-rate, because it is trading on a cheap multiple at the moment,” said Shamgar.

This ASX share has a subsidiary that’s worth double itself

Joyce Corporation Ltd (ASX: JYC) has been around for 135 years. 

These days its big business is a 50% stake in Kitchen Connection, which is a retailer with 25 stores that sells kitchen and wardrobe parts and services. Joyce Corp’s other assets include furniture retailer Bedshed, cash and property.

With the coronavirus pandemic triggering a boom in home renovations, the kitchen business has gone gangbusters.

“If Kitchen Connection was a separately listed company, we think it would trade at a $200 million market cap.”

Joyce itself is only worth $100 million on a good day. On Friday afternoon, at $3.25 per share, its market capitalisation was $91.6 million.

So the maths is simple.

“With Joyce owning half of Kitchen Connection, it’s essentially the current market cap. And then you get the cash, property and the Bedshed business essentially for free.”

Shamgar’s team reckons Joyce shares are actually worth $4.50.

“And there is the possibility that they will acquire the remaining part of Kitchen Connection over time, which will be a big boost to the share price.”

The post 3 obscure ASX shares to boom from ‘revenge spending’ appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns shares of Dusk Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dusk 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 Baby Bunting Group Ltd (ASX: BBN) share price is on the move this morning.

At the time of writing, the baby products retailer’s shares are down 1.5% to $5.45.

Why is the Baby Bunting share price falling?

Investors have been selling down the Baby Bunting share price today following the release of a trading update at its annual general meeting (AGM).

According to the release, Baby Bunting’s comparable store sales are down 1.3% year to date to 3 October. However, if you exclude its ACT and NSW stores, comparable store sales would have been up 4.7%.

And while it hasn’t been enough to stop the Baby Bunting share price from falling, this update is actually a big improvement on its performance earlier in FY 2022.

Baby Bunting’s CEO, Matt Spencer, commented: “When we last updated the market on 13 August, comparable store sales were negative 6.4% for the first 7 weeks of the year. Since then, we have seen a positive trend in comparable store sales growth, despite the ongoing lockdowns experienced across Victoria, NSW and the ACT.”

“From week 7 to week 14, we have seen positive comparable sales growth of 3.2% which takes us to a negative 1.3% comparable store sales performance year-to-date. If you exclude our NSW and ACT stores, since week 7 we have experienced comparable store sales growth of 10.0% with a year-to date comparable store sales growth of 4.7%.”

What else did the company say?

Also failing to give the Baby Bunting share price a lift was its online sales growth. The company reported strong online sales growth despite cycling a period of explosive growth a year earlier. The release explains that online sales (including click & collect) are up 37.7% year-to-date. During the prior corresponding period, its online sales rose 126%.

Another positive is that the company’s margins continue to widen. Baby Bunting reported a gross profit margin up 120 basis points to 38.7% year-to-date. This has been supported by strong private label and exclusive product sales. Private label and exclusive products make up 44.3% of sales year-to-date. This is up from 38% in the prior corresponding period and brings it closer to its long term goal of 50% of sales.

Looking ahead, the company expects to open 6 to 8 new stores in Australia in FY 2022, and two in New Zealand towards the end of FY 2022.

Management also revealed that the transformation program is progressing well. It is anticipating the launch of its new Australian website and phase 2 of its loyalty program in early November.

Due to COVID-19, no guidance was given at the AGM.

Mr Spencer explained: “Governments are progressing along their roadmaps for re-opening which is a positive. Nevertheless, there remains uncertainty about the business and trading conditions that will prevail in different parts of Australia. Accordingly, guidance for the rest of the year ahead cannot be given at this time.”

The Baby Bunting share price is up 12% in 2021.

The post Baby Bunting (ASX:BBN) share price drops following trading update appeared first on The Motley Fool Australia.

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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 Baby Bunting. 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 Santos Ltd (ASX: STO) share price was a standout performer in September, gaining 18.5% over the month.

To put that in better perspective, the S&P/ASX 200 Index (ASX: XJO) lost 2.7% in September.

So, what’s driving the Santos share price sharply higher?

Energy prices at 7-year highs

If your bottom line rests on oil and gas prices, then naturally you expect to be rewarded when those prices lift off.

And indeed, rewards are what Santos’ shareholders experienced in September, as the Santos share price soared from $6.05 at the close of August to $7.17 per share at the close of last month.

Part of what’s driving shares higher is the surging crude oil price. Brent crude leapt from an already high US$71.59 per barrel on 1 September to end the month at US$78.52 per barrel, a 9.6% increase.

And it’s kept on going from there. Brent crude is currently trading at US$81.26 per barrel, its highest price in 7 years.

This comes as natural gas shortages are driving increased demand for crude oil. According to energy giant Saudi Aramco, “the global natural-gas shortage has boosted crude consumption by 500,000 barrels a day,” Bloomberg reports.

Crude supplies have also been disrupted by the hurricane in the oil rich Gulf of Mexico, and continuing issues with producing during the pandemic.

And yesterday’s decision (overnight Aussie time) by OPEC to stick with its gradual production increases, boosting supply by 400,000 barrels per day commencing in November, looks to be adding more upward pressure to prices as it fell short of consensus forecasts.

According to Rob Thummel, a portfolio manager at energy focused Tortoise, “The consensus was that it was going to be an 800,000 barrel-a-day temporary boost in November.”

While spiking crude costs may not help fuel the global recovery, it’s certainly been beneficial to the Santos share price.

Santos share price snapshot

The Santos share price has gained 45% over the past 12 months, compared to a gain of 23% on the ASX 200.

Year-to-date Santos shares are up 10%.

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

More reading

• These were the best performing ASX hydrogen shares of September
• ASX 200 energy shares on watch as OPEC meeting drives up oil prices
• Why did the Santos (STO) share price lift on Monday?
• 5 things to watch on the ASX 200 on Monday
• Here are the 3 most active ASX 200 shares this Friday

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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September is a notoriously tough month for global markets but a number of ASX hydrogen shares have pushed through.

While the S&P/ASX 200 Index (ASX: XJO) fell 2.6% over the course of last month, some ASX hydrogen and hydrogen-adjacent shares managed to record decent gains.

So, without further ado, here were the top-performing ASX-listed companies working or looking to break into the hydrogen sector in September.

Top performing ASX hydrogen shares of September

Pure Hydrogen Corporation CDI (ASX: PH2)

The Pure Hydrogen share price bested those of its peers last month, gaining 14.2%. At the end of September, its shares were swapping hands for 24 cents apiece.

The gas and hydrogen producer released several updates last month, including its strategy to profit from hydrogen projects in Botswana.

The Pure Hydrogen share price gained 8.7% on the strategy’s release.

Origin Energy Ltd (ASX: ORG)

Origin Energy is a newcomer to the hydrogen scene. In fact, the energy producer and retailer is still in the testing phase of hydrogen production.

Origin’s feasibility study into producing hydrogen and ammonia in Tasmania using renewable energy is due to be completed in December.

The Origin share price gained 6.2% in September. It finished the month trading at $4.73.

Global Energy Ventures Ltd (ASX: GEV)

Another hydrogen-adjacent share topped the list of the best performers last month.

The Global Energy Ventures share price gained 5.4% over September, finishing the month trading at 7.8 cents.

The company is developing shipping solutions for natural gas and green hydrogen. It owns the world’s first large scale compressed hydrogen ship, allowing marine transportation of hydrogen.

The company’s stock was boosted last month when it received a renewable hydrogen energy grant from the Western Australian government. The grant will help fund a feasibility study into exporting green hydrogen.

Honourable mention for a not-quite ASX hydrogen share

Santos Ltd (ASX: STO)

An honourable mention goes to a company that’s still just looking to break into the hydrogen space.

Santos has flagged hydrogen as one of its potential future endeavours a number of times. Perhaps most recently, it’s come on the back of news of its merger with Oil Search Ltd (ASX: OSH).

As The Motley Fool Australia reported, the oil and gas producer’s CEO and managing director Kevin Gallagher commented that extra cash brought about by the merger might allow the companies to advance potential hydrogen initiatives.

The Santos share price gained a whopping 18.5% over the course of September.

The post These were the best performing ASX hydrogen shares of September appeared first on The Motley Fool Australia.

More reading

• Why did the Santos (ASX:STO) share price have such a great month in September?
• ASX 200 energy shares on watch as OPEC meeting drives up oil prices
• Why did the Santos (STO) share price lift on Monday?
• 5 things to watch on the ASX 200 on Monday
• Here are the 3 most active ASX 200 shares this Friday

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. 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 seasonally volatile month of September got the better of the Afterpay Ltd (ASX: APT) share price, closing the month near 2-month lows of $121.32.

Afterpay slumped 9.8% in September, dragging its year-to-date return to a measly 2.81%.

What’s driving the Afterpay share price lower?

Square Inc (NASDAQ: SQ) slides to 2-month lows

Afterpay has closely tracked the performance of Square Inc (NYSE:SQ) shares ever since the US payments company announced its US$39 billion all-script offer.

The transaction will see Afterpay shareholders receive a fixed exchange ratio of 0.375 shares of Square Class A common stock for each Afterpay share they hold on the record date.

The transaction is expected to close in the first quarter of calendar year 2022 so the US$39 billion offer could be materially different depending on where the Square share price closes.

It’s worth noting the Afterpay share price has typically traded at a small discount to the implied transaction price.

Things were going well for Afterpay when the Square share price rallied to at all-time highs of US$280 in early August.

This implied a transaction price of approximately $144.18 per Afterpay share.

However, the US market began to roll over in the latter half of the month with Square shares closing the month at US$239.84.

This implies a transaction price of just $123.50 for Afterpay.

Tech shares tumble

The S&P/ASX 200 Information Technology (INDEXASX: XIJ) struggled to make it over the finish line last month, plunging 5.28% between 24 and 30 September.

Rising bond yields were the talk of the town, pushing investors out of popular, richly-valued tech shares.

Benchmark 10-year US treasury yields rallied strongly in the last week of September, surging 25 basis points between 22 and 29 September to 1.56%.

Ultra-low interest rates have propped up tech shares by making future cash flows appear more valuable in the present.

But looming interest rate hikes could pose a risk to the Afterpay share price and broader tech sector.

The post Why did the Afterpay (ASX:APT) share price have such a bad month in September? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares set to slide as Nasdaq plunges 2%
• Square slumps 5%. How could this impact the Afterpay (ASX:APT) share price today?
• These were the best performing ASX BNPL shares in September
• These were the worst performing ASX 200 shares last week
• Why is the Afterpay (ASX:APT) share price trailing Zip on Thursday

Motley Fool contributor Kerry Sun 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 AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T 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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Wall Street might have paved the way for another hair-raising drop for ASX 200 tech shares on Tuesday.

Major US indices tumbled overnight but it was technology stocks that were the most hard hit as bond yields itched higher.

The yield on benchmark 10-year Treasury notes rose to highs of 1.51% from 1.46% on Monday. It was just a month ago that yields were sitting at around 1.32%.

This comes just before the US Federal Reserve signaled that it will begin reducing its monthly bond purchases as soon as November, which could lower bond prices and push yields even higher.

The Nasdaq Composite plunged 311 points or 2.14% while the S&P 500 and Dow Jones Industrial Average fell 1.3% and 0.94% respectively. Perhaps signalling a continued rotation out of technology and back into safe haven assets such as bonds and gold.

Big tech led the declines with heavyweights Facebook, Amazon, Microsoft, Alphabet and Apple all sliding between 2% to 4.9%.

This could point to continued weakness for ASX 200 tech shares, especially given ASX futures are currently pointing to a 68 point or 0.94% decline.

ASX 200 tech shares on watch

The Afterpay Ltd (ASX: APT) share price could be set to fall this morning after Square shares fell 5.43% overnight to a 2-month low of US$226.25.

The largest US-listed BNPL player, Affirm, also posted significant declines, down 8.42%.

This could place the broader ASX-BNPL sector on watch, especially big names like Zip Co Ltd (ASX: Z1P) and Sezzle Inc (ASX: SZL).

Weakness in the Global X FinTech Exchange Traded Fund (ETF) might also affect ASX-listed players such as Xero Ltd (ASX: XRO), Tyro Payments Ltd (ASX: TYR) and EML Payments Ltd (ASX: EML).

The FinTech ETF tanked 3.72% overnight and is comprised of leading companies in the emerging financial technology sector. Its top 5 holdings include household names such as Adyen, Square and PayPal.

The post ASX 200 tech shares set to slide as Nasdaq plunges 2% appeared first on The Motley Fool Australia.

More reading

• Square slumps 5%. How could this impact the Afterpay (ASX:APT) share price today?
• 5 things to watch on the ASX 200 on Tuesday
• These were the best performing ASX BNPL shares in September
• What happened for the Zip (ASX:Z1P) share price in September?
• These were the worst performing ASX 200 shares last week

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Kerry Sun 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 AFTERPAY T FPO, Affirm Holdings, Inc., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, EML Payments, Facebook, Microsoft, PayPal Holdings, Square, Tyro Payments, Xero, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, EML Payments, and Xero. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, PayPal Holdings, and Tyro Payments. 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 Afterpay Ltd (ASX: APT) share price could be set for another decline on Tuesday as major US indices tumble overnight.

Technology stocks tank on Wall Street

The tech-heavy Nasdaq Composite plunged 311 points or 2.14% overnight, down to a two and half month low.

It looks like a correction is well underway, with the Nasdaq down more than 7% since the beginning of September.

Perhaps more specifically for the Afterpay share price, its soon-to-be parent company Square Inc (NASDAQ: SQ) slumped 5.43% to a two and a half month low of US$226.25.

While Afterpay’s US-listed rival, Affirm Holdings Inc (NASDAQ: AFRM) also fell sharply, down 8.42%.

Headlining the sharp declines across the tech sector was a jump in bond yields.

The US 10-year Treasury yield edged higher on Monday night, reaching session highs of 1.51% and currently trading around 1.482%. It hit a two month high of 1.56% last week as investors were increasingly concerned about inflationary pressures, looming interest rate hikes and tighter monetary policy.

The richly valued tech sector has taken the brunt of the selling as investors rotate and rebalance away from high growth sectors.

What could this mean for the Afterpay share price?

Unlike conventional takeover offers that come forth with a fixed price tag, Afterpay and Square have agreed to an all-script deal which will see its shareholders receive a fixed exchange ratio of 0.375 shares of Square for each Afterpay share they hold on the record date.

This means that between now and when the transaction closes, which is expected around the first quarter of calendar year 2022, Afterpay shareholders bear the risk of a higher or lower Square share price.

After the Square share price declined 5.43% overnight to US$226.25, this gives the Afterpay share price a theoretical value of $116.36 after taking into consideration the fixed exchange ratio and current exchange rates.

The post Square slumps 5%. How could this impact the Afterpay (ASX:APT) share price today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares set to slide as Nasdaq plunges 2%
• These were the best performing ASX BNPL shares in September
• These were the worst performing ASX 200 shares last week
• Why is the Afterpay (ASX:APT) share price trailing Zip on Thursday
• How have the WAAAX shares performed so far this year?

Motley Fool contributor Kerry Sun 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 AFTERPAY T FPO, Affirm Holdings, Inc., and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T 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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S&P/ASX 200 Index (ASX: XJO) energy shares might be one of few bright spots on the market today after OPEC and allies reaffirmed plans to increase production but only gradually.

What did OPEC announce?

The Organisation of the Petroleum Exporting Countries and allies, known as OPEC+ previously agreed to boost output by 400,000 barrels per day every month until at least April 2022.

However, taking into consideration the recent supply-side constraints such as Hurricane Ida disrupting oil production around the Gulf of Mexico. In addition to rising demand amidst an energy crisis in China and gas shortage in Europe, there was arguably a lot of commercial and political pressure for OPEC to bump up production and ease a tightening market.

OPEC’s press release revealed that the group reconfirmed its plan to only gradually add oil to the market.

As a result, West Texas Intermediate crude surged to US$1.87 or 2.47% to US$77.59 a barrel, its highest close since 2014.

Similarly, the global benchmark, Brent Crude also rallied US$2.13 or 2.69% to a three-year high of US$81.27 a barrel.

ASX 200 energy shares on watch

ASX 200 energy shares could be a mover on Tuesday in response to the jump in oil prices overnight.

Major US-listed oil companies such as Exxon Mobil, Chevron and Royal Dutch Shell all posted slight gains overnight, rising 1.3%, 0.37% and 0.64% respectively.

This is despite all three major US indices closing at near session lows. The Nasdaq Composite plunged 311 points or 2.14%. The S&P 500 tumbled 57 points or 1.3%. And the Dow Jones Industrial Average shed 323 points or 0.94 per cent.

ASX 200 energy shares, Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO), Beach Energy Ltd (ASX: BPT) and Oil Search Ltd (ASX: OSH) could be the players to watch on Tuesday as major benefactors of high oil prices.

The post ASX 200 energy shares on watch as OPEC meeting drives up oil prices appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Why did the Santos (STO) share price lift on Monday?
• 5 things to watch on the ASX 200 on Monday
• The Woodside Petroleum (ASX:WPL) share price is a buy – broker
• These were the best performing ASX 200 shares last week

Motley Fool contributor Kerry Sun 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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