Rocketing ASX payments and buy now, pay later (BNPL) shares weren’t enough to stop the S&P/ASX 200 Index (ASX: XJO) from going backwards last week with a 2.3% loss.

Last week’s market pessimism was in stark contrast to the prior week of trading, which saw the ASX 200 push past the 6,000 point mark once again. After last week, the index is now firmly back below this psychologically-important milestone. Gloomy sentiment following the reintroduction of coronavirus restrictions in Victoria was the main catalyst pulling shares lower. After a sharp uptick in coronavirus transmissions in Victoria, metropolitan Melbourne and one regional shire are now back under lockdown conditions, which is obviously terrible news for all Victorians and Victorian businesses.

Predictably, ASX travel shares were among the worst hit companies on the ASX boards. Corporate Travel Management Ltd (ASX: CTD) led the ASX 200’s losses last week with a 15.2% slide over the period, but Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN) were also bleeding heavily with 9.58% and 8.12% falls respectively.

But despite the market pessimism over new coronavirus restrictions, it seemed nothing could stand in the way of ASX payments and BNPL shares last week.

Afterpay Ltd (ASX: APT) had yet another phenomenal week, rising 7.13% and printing a new record high of $76.62 on Friday. In fact, at one point, Afterpay shares were up more than 15% in just under 48 hours between Wednesday afternoon and noon Friday.

Zip Co Ltd (ASX: Z1P) was also on fire, rising more than 26% last week and printing a new record high of its own at $7.72 on Friday.

Splitit Ltd (ASX: SPT) joined the party with a 16.55% gain, as did Openpay Group Ltd (ASX: OPY) with a 29.2% bonanza.

In other news, gold was also in the spotlight last week. The yellow metal inched closer to its all-time high of US$1,920 per ounce last week when it hit US$1,817 – a 9-year high. Gold is now up almost 20% in 2020 so far, with only another ~5.5% of appreciation needed to break the all-time record.

How did the markets end the week?

After starting last week at 6,057.9 points, the ASX 200 ended trading on Friday at 5,919.2 points – which gives the index a 2.29% loss for the week. Monday saw a relatively muted 0.43% loss, while Tuesday was a flat day. Wednesday was when investors really hit the brakes and saw a 1.5% selloff. Thursday was a day in the green and investors clawed back some of Wednesday’s lost ground. But sentiment decisively shifted on Friday and saw ASX 200 shares lose another 0.82% to put the index firmly into negative territory for the week.

Meanwhile, the All Ordinaries (INDEXASX: XAO) also had a week to forget, starting off at 6,163.7 points and finishing the week at 6,036.3 points for a 2.1% loss.

Which ASX 200 shares were the biggest winners and losers?

Time to fetch the tea and biscuits while we mull over last week’s best and worst performers. As always, we’ll start with the losers:

Worst ASX 200 losers	% loss for the week
Corporate Travel Management Ltd (ASX: CTD)	(15.2%)
Domain Holdings Australia Ltd (ASX: DHG)	(12.5%)
AP Eagers Ltd (ASX: APE)	(10.7%)
Monadelphous Group Limited (ASX: MND)	(10.6%)

As we discussed, embattled ASX travel share Corporate Travel Management took out this week’s wooden spoon. Investors are clearly fearing that the new coronavirus outbreak in Melbourne could potentially lead to further travel restrictions.

Property lister Domain was also in the firing line last week. Increasing lockdowns means fewer house inspections and property market activity, which is clearly bad news for property classifieds companies like Domain.

Investors were potentially also fretting about these impacts for car sales, which could explain why dealership company AP Eagers was also in investors’ bad books last week.

Now we’ve had a glance at last week’s losers, it’s only fair to check out the winners as well. Remember, whilst the ASX payments and BNPL companies we discussed earlier were standout performers, none (with the exception of Afterpay) have yet to make it into the ASX 200 club.

Best ASX 200 gainers	% gain for the week
Netwealth Group Ltd (ASX: NWL)	18.4%
Perseus Mining Limited (ASX: PRU)	11.5%
Mesoblast Limited (ASX: MSB)	8.9%
Megaport Ltd (ASX: MP1)	8.4%

Netwealth was the clear winner from the ASX 200 last week with an 18.4% gain. The catalyst for this string move appears to have been an exciting update for the wealth platform provider, which reported 35% growth in funds under management for FY2020. Net Bad!

ASX gold miner Perseus is next on the list here. As we earlier discussed, gold prices have been on the march lately, which has left many investors looking for avenues (like gold miners) to profit from this trend.

Medical company Mesoblast was also in investors’ good graces with a promising update of its own, whilst cloud infrastructure provider Megaport moved upwards as investors continue to look for winners in this forward-facing space. 

What is this week looking like for the ASX 200?

It’s likely the ASX will really test investors’ sentiment this week as all eyes remain on Victoria and its dreadful new coronavirus outbreak. As a border state, New South Wales is also on high alert and investors and non-investors alike will no doubt be hoping that further cases don’t hop the border.

The return of lockdowns in Victoria is devastating from both a social and commercial perspective. If other states are forced to join Victoria in returning to lockdown, it will likely have a profound impact on the ASX 200 and the share market overall.

This week, I’ll also be keeping a firm eye on the ASX payments and BNPL winners of last week, as well as the gold price.

So before we once more unto the breach, dear friends, here’s a look at how the major ASX blue-chip shares are looking:

More reading

• Here are the 10 most shorted shares on the ASX
• 5 things to watch on the ASX 200 on Monday
• 3 top ASX dividend shares to buy instead of Westpac
• Strengthen your retirement portfolio with these ASX blue chip shares
• Analysis: is the Woolworths share price a buy?

Sebastian Bowen owns shares of National Australia Bank Limited, Newcrest Mining Limited, and Telstra Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd., MEGAPORT FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited, Macquarie Group Limited, Telstra Limited, and Webjet Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO, COLESGROUP DEF SET, Netwealth, Transurban Group, Wesfarmers Limited, and Woolworths Limited. The Motley Fool Australia has recommended MEGAPORT FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 Weekly Wrap: Rocketing BNPL shares fail to stop ASX 200 slide appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3foki1I

At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

I believe it is worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Myer Holdings Ltd (ASX: MYR) remains the most shorted share on the Australian share market with short interest of 12.4%. Investors appear concerned the pandemic could be accelerating the shift away from department stores to online shopping.
• Speedcast International Ltd (ASX: SDA) has short interest of 11.7%. This communications satellite technology provider’s shares remain suspended as it declares itself bankrupt.
• Webjet Limited (ASX: WEB) has seen its short interest jump to 10.7%. Short sellers may be targeting the online travel agent due to potential delays in the recovery of the domestic travel market because of the outbreak in Victoria.
• Inghams Group Ltd (ASX: ING) has 9.5% of its shares held short, which is up slightly week on week. The poultry company looks set to deliver a disappointing result in FY 2020 due to an unfavourable shift in its sales mix.
• Nearmap Ltd (ASX: NEA) has seen its short interest edge lower again to 8.2%. Short sellers continue to close their positions in the aerial imagery and location data technology company after its resilient performance during the pandemic.
• Bank of Queensland Limited (ASX: BOQ) has seen its short interest reduce to 8.1%. Short sellers have been going after the regional bank following a soft half year result and a weak outlook. But they may feel the worst is now factored into its share price.
• Galaxy Resources Limited (ASX: GXY) has 8% of its shares held short, which is down week on week. Short sellers have been targeting Galaxy and fellow lithium miners due to sustained weakness in the price of the battery making ingredient.
• Clinuvel Pharmaceuticals Limited (ASX: CUV) has seen its short interest fall to 7.8%. Short sellers may be going after this biopharmaceutical company due to its lofty valuation.
• Orocobre Limited (ASX: ORE) is back into the top ten with short interest of 7.1%. As with Galaxy, ultra low lithium prices have been weighing on this lithium miner’s performance.
• Freedom Foods Group Ltd (ASX: FNP) is in the top ten with 6.9% of its shares held short. The diversified food company recently suspended its shares until 30 October while it looks through its accounts for potential fraud.

More reading

• ASX 200 Weekly Wrap: Rocketing BNPL shares fail to stop ASX 200 slide
• Vocus and 1 other ASX share to buy in July
• 3 large cap ASX shares primed for expansion and M&A activity
• Why the Freedom Foods share price will be suspended until 30 October
• These ASX shares are the winners and losers in the “new normal”

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Freedom Foods Group Limited and Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Here are the 10 most shorted shares on the ASX appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2OhQCYj

If you’re a fan of growth shares, then you’re in luck. The Australian share market is home to a good number of companies growing their earnings at a quicker than average rate.

Two top growth shares that I think investors ought to consider buying are listed below. Here’s why I rate them:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

I think this pizza chain operator could be a top option for growth investors. It is the master franchise holder for Domino’s in Australia, New Zealand, Belgium, France, the Netherlands, Japan, Germany, Luxembourg, and Denmark. While its shares have been strong performers this year, I would still invest due to its positive long term outlook.

Domino’s is aiming to grow its global store network by 7% to 9% per annum for the next 3 to 5 years. At the same time, it is targeting same store sales growth of 3% to 6% per annum over the same period. If the company can deliver on both these targets, then it should lead to strong profit growth over the next five years. This could make the Domino’s share price a market beater over the period.

ResMed Inc (ASX: RMD)

Another growth share to consider buying is ResMed. I’m a big fan of the medical device company due to its focus on the growing sleep treatment market. It is also benefiting from increased demand for ventilators at present because of the pandemic.

In respect to the sleep treatment market, the company has previously suggested that there could be upwards of 1 billion people impacted by sleep apnoea worldwide. With the vast majority of these sufferers undiagnosed, it gives ResMed a very long runway for growth in the future. And given the high quality of its portfolio and its high level of investment in research and development, I believe it is well-placed to capture the growing demand. In light of this, I feel the ResMed share price could be a market beater over the 2020s.

More reading

• Why Domino’s and Nanosonics shares could be fantastic buy and hold options
• Altium and these ASX 200 shares could be quality buy and hold options
• Why it’s time to rotate out of JB Hi-Fi share price and these popular ASX stocks: Macquarie
• Goldman Sachs names the ASX retail shares to buy and the ones to avoid
• 3 high quality ASX 100 shares to buy right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino’s Pizza Enterprises Limited and ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post These ASX growth shares could be market-beaters during the 2020s appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2Zk0wik