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Microcap ASX mining share Korab Resources Limited (ASX: KOR) is rocketing higher today.

Korab Resources shares closed Friday trading for 2.7 cents and are currently trading for 3.4 cents apiece, up 25.9% after earlier posting gains of more than 30%.

So, what’s driving investor interest in this tiny ASX mining share?

Why is the Korab Resources share price leaping higher?

Korab Resources shares are off to the races today after the ASX mining share reported its exploration license for a 172 square kilometre tenement in the Northern Territory was renewed through to 31 July 2024.

The tenement forms part of the Batchelor Project, located 70 kilometres south of Darwin.

The ASX mining share is likely leaping higher as the Bachelor Project hosts lithium mineralisation, with lithium star performer Core Lithium Ltd (ASX: CXO) among the miners owning and operating neighbouring tenements.

Investors are keeping a keen eye on developments in the lithium space, with demand for the lightweight, conductive metal widely forecast to remain strong over the coming decade amid a surge in global EV production.

In today’s release, Korab Resources noted:

At the nearby Litchfield Pegmatite Belt, and the Finniss Lithium Project, lithium-bearing pegmatites are found within the same Burrell Creek Formation adjacent to and within aureole of I-type and S-type granites as the source of LTC pegmatites.

The ASX mining share said the geological setting of the broader Batchelor Project, and within its newly renewed tenement lease, is broadly similar.

Atop lithium, the tenement also has the potential to host rare earth oxides mineralisation. Korab said it has commenced a review of the existing exploration data. The results of that review will be reported as they become available.

How has this tiny ASX mining share been tracking?

As a microcap stock, trading in Korab Resources tends to be thin. The ASX mining share is also prone to some large price swings.

With more of those swings in the positive direction than negative over the past full year, Korab Resources shares are up 70%. That compares to a 12-month loss of 7% posted by the All Ordinaries Index (ASX: XAO).

The post Guess which tiny ASX mining share just rocketed 30% on lithium news? appeared first on The Motley Fool Australia.

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More reading

• Down 20% in 2022, is the Lynas share price too cheap to ignore?
• Here’s why the Nickel Industries share price is racing 7% higher
• The AGL share price has tumbled 16% in a month. What’s next?
• Why this top broker is tipping 17% upside for the Telstra share price
• Investing in the stock market could turn your $20,000 into $350,000. Here’s how

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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The Lynas Rare Earths Ltd (ASX: LYC) share price has dropped around 20% since the beginning of 2022. It has been a hefty fall.

Lots of businesses with compelling longer-term growth potential have been sold off this year. ASX growth shares have lost some investor support and now don’t command the same level of valuation as before.

Inflation and higher interest rates are certainly having an impact on the ASX share market and the economy. But, should a resources business be punished in the same way?

Let’s have a look at how the business has actually been performing recently because operational performance can be very different to movements of the share price.

FY22 earnings recap

In the 2022 financial year, Lynas reported that its revenue jumped by 88% to $920 million, earnings before interest, tax, depreciation and amortisation (EBITDA) went up 155% to $601.2 million and net profit after tax (NPAT) increased 244% to $540.8 million.

The company reported that favourable market conditions and strong demand for rare earth materials saw rare earth prices sustained at high levels in the second half of the financial year, with the Neodymium-Praseodymium (NdPr) market price remaining 70% to 80% higher than the same period last year.

Lynas has continued to work on its 2025 growth plan with construction of its rare earths processing facility in Kalgoorlie, as well as a heavy rare earth separation facility and light rare earth separation facility in the US.

New agreement

It was only last week that the rare earth company announced the signing of agreements with Japan Australia Rare Earths (JARE) which reconfirms its shared commitment to work together on future development opportunities.

Under the agreements, JARE will provide a contribution of US$9 million to the exploration program at Mt Weld on the exploration target in the fresh carbonatite below the current Mt Weld life of mine design and ore reserve. JARE will also provide technical support to the exploration program through the involvement of world-leading geologists and other technical professionals.

JARE has also agreed to remove capital management restrictions, so Lynas can do things like issue dividends, carry out share buybacks and so on.

Is the Lynas share price a buy?

The broker Macquarie currently has a neutral rating on the business, with a price target of $9.50. That implies a possible rise of mid-single-digits for Lynas over the next 12 months. However, it noted that rare earth prices have recently fallen back.

The broker Ord Minnett is much less optimistic about Lynas’ prospects. It has a sell rating with a price target of just $4.85. That implies a possible fall of more than 45% from here. The broker notes the high level of capital expenditure that Lynas is planning to spend on its projects, with project execution being a potential risk. It also pointed out that the Lynas share price has fallen.

Looking at the Lynas share price and projections, Macquarie thinks Lynas is valued at 13 times FY23’s estimated earnings and Ord Minnett thinks Lynas is priced at under 11 times FY23’s estimated earnings.

The post Down 20% in 2022, is the Lynas share price too cheap to ignore? appeared first on The Motley Fool Australia.

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More reading

• Why is the Lynas share price surging higher on Tuesday?
• Should investors ‘buy the dip’ in Lynas shares right now?
• Guess which ASX rare earths share is rocketing 13% on a ‘resounding success’. Hint: not Lynas
• Down 24% since April, have investors fallen out of love with Lynas shares?
• Top ASX shares to buy in September 2022

Motley Fool contributor Tristan Harrison 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 Scott Phillips.

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The Nickel Industries Ltd (ASX: NIC) share price has been a strong performer on Monday.

In early afternoon trade, the nickel producer’s shares are up 7% to 96 cents.

Why is the Nickel Industries share price racing higher?

Investors have been scrambling to buy this nickel producer’s shares following the release of an update on its Hengjaya Mine in Indonesia.

According to the release, the company has upgraded its mineral resource to 300 million dry metric tons (dmt), with an average grade of 1.22% nickel and 0.09% cobalt. This equates to approximately 3,700,000 tons of nickel metal and 270,000 tons of cobalt.

Since the last resource estimate in June 2020, measured resources have increased 333%, indicated resources are up 20%, and inferred resources are up 53%. Management notes that this delivers a significant conversion of inferred and indicated to measured resources and provides increased confidence in the current remaining resource estimate.

This mineral resource estimate is based on data incorporating 529 kilometres of ultra-ground penetrating radar survey, 4,657 drill holes, and 111,643 sample assays from drill cores taken from a 3,000-hectare area at the Hengjaya Mine.

Nickel Industries’ Resource managing director, Justin Werner, was delighted with the news. He said:

We are delighted to deliver a significant increase in our Resource at the Hengjaya Mine from 2.4 million tonnes to 3.7 million tonnes of contained nickel metal representing a 56% increase, with further upside remaining. This places the Hengjaya Mine amongst the top 10 global nickel resources, highlighting the world class size of the deposit.

The Hengjaya Mine is the closest large tonnage, high grade saprolite and limonite mine to the Indonesia Morowali Industrial Park (‘IMIP’) and one of its largest ore suppliers. This underscores the important strategic value of the mine in providing secure, long-term supply to the Company’s RKEF operations within IMIP, being HNI and RNI, as well as Oracle Nickel (‘ONI’) which is currently under construction and due to commission in October this year.

The post Here’s why the Nickel Industries share price is racing 7% higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Nickel Industries share price getting hammered on Tuesday?
• Why BHP, Deep Yellow, Nickel Industries, and PointsBet shares are dropping
• Nickel Industries share price dips despite 40% profit surge

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 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 Scott Phillips.

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The AGL Energy Limited (ASX: AGL) share price has been in the red over the past month, losing around 16% of its value.

The gas and electricity company’s slump has been a major weight on the S&P/ASX 200 Utilities Index (ASX: XUJ). It’s the market’s worst performing sector by a significant margin in the past month, down 8.7%. The second worst performer, the S&P/ASX 200 Real Estate Index (ASX: XRE), is 4.52% lower.

Certainly, other utility companies are also down over the period. These include Origin Energy Ltd (ASX: ORG), down 2%, and Meridian Energy Ltd (ASX: MEZ) which has lost about 2.8%.

Let’s check what may be impacting the AGL share price lately.

What’s happening with AGL’s energy transition?

The unfolding global energy crisis is undoubtedly hitting the utilities sector hard.

It comes as AGL is facing its own challenges. These include recovering from a $225 million loss for FY22, replacing heads of management, finding a new CEO and board chair, and transitioning away from carbon-based energy production methods.

As reported by The Australian, one of AGL’s key focuses is likely to be on transitioning from coal to more sustainable energy sources.

This observation was made by VanEck portfolio manager Jamie Hannah. VanEck is a top 10 shareholder of AGL.

Hannah said:

They need to work out what their long-term plan is, in terms of what they’re going to be doing with their coal power plants, if they’re going to keep them, how long for and then how they’ll be increasing their renewables production.

He continued:

I think financing is part of the issue here. Coal power plants are generating returns and they probably want to keep them for as long as possible but a lot of investors want to see a move to renewables.

Certainly, the move to renewables could come at an opportune time for AGL, with advances in hydrogen and nuclear fusion developing rapidly.

Alternative energy sources abound

AGL launched a study into the feasibility of using hydrogen energy in June this year. Part of the study is the prospect of converting its gas-fed power station at Torrens Island, northwest of Adelaide, to hydrogen power. It also investigates the feasibility of creating a green hydrogen hub near Adelaide.

Meanwhile, nuclear power is undergoing a renaissance in popularity, thanks to developments in nuclear fusion technology and miniaturised nuclear reactors. Several countries, including France and India, have indicated they will join the nuclear ranks. While others, such as Japan and the United States, are expanding their nuclear presence.

Although nuclear power has been banned in Australia since 1998, indications in recent times have shown some sections of the federal government are not averse to the idea. As shadow defence minister in April 2022, Labor’s Brendon O’Connor called for Australia’s nuclear submarines to be built locally as part of the AUKUS defence deal, as reported by the ABC.

Indeed, Australia already has a nuclear reactor on its soil. The Open Pool Australian Lightwater (OPAL) has been operating at Port Kembla, New South Wales since 2007. OPAL is powered through enriched uranium for scientific uses.

Whatever green option AGL opts for may be controversial, but these developments show the landscape of energy production is rapidly evolving.

AGL share price snapshot

AGL shares are currently trading for $7.12 apiece, up 2.3% on the day so far, clawing back some ground after their steep fall over the past four weeks.

Even with the losses of the past month, the AGL share price is up 16% year to date and 16.53% over the past year. This compares to the S&P/ASX 200 Index (ASX: XJO)’s 6.44% loss in 2022 so far. The benchmark index is also down around 6% in the past 12 months.

AGL’s current market capitalisation is around $4.8 billion.

The post The AGL share price has tumbled 16% in a month. What’s next? appeared first on The Motley Fool Australia.

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More reading

• Are AGL shares offering a bigger final dividend than Origin this year?
• Broker tips 22% upside for the AGL share price
• ‘We would like to see faster progress’: ASX 200 energy shares on notice
• Down 15% in a month – is the AGL share price good value yet?
• Why is the AGL share price on the slide today?

Motley Fool contributor Matthew Farley 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 Scott Phillips.

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It’s been a strong start to the trading week for the Telstra Corporation Ltd (ASX: TLS) share price so far this Monday. At the time of writing, Telstra shares have added a decent 0.38% and are going for $3.94.

However, if we zoom back a little, it’s clear that Telstra shares have been struggling in recent months. The telco remains down by 6.75% year to date in 2022 so far. Telstra is also down by almost 8% from the 52-week high of $4.31 a share that we saw back in January. The company has gained 0.64% over the past 12 months.

Even so, it could have been worse. The S&P/ASX 200 Index (ASX: XJO) has lost an even greater 8.25% over the year to date. The ASX 200 is also still down by 6.1% over the past 12 months, so Telstra shares have actually delivered meaningful market outperformance over this period.

But we still can’t say Telstra shares have done too much in recent months.

But what of the future? Could this share price stagnation lead to a good buying opportunity for the ASX 200 telco today?

Well, one ASX broker thinks it just might.

Is the Telstra share price a buy today?

As my Fool colleague James covered yesterday, ASX broker Ord Minnet thinks the best might be yet to come for Telstra. Ord Minnet currently rates Telstra shares as a buy, with a 12-month share price target of $4.60 a share. If that came to pass, it would result in a compelling upside of almost 17% on current pricing.

Ord Minnet is excited about Telstra’s future dividend prospects. Telstra raised its dividend for the first time in years last month. Investors will enjoy a final dividend of 8.5 cents per share, fully franked, for FY22.

But Ord Minnet reckons the telco will be able to jack up its dividends again in FY23, estimating an FY23 total of 17 cents per share in dividends. This is expected to rise to 19 cents per share for FY24.

No doubt this will be very welcome news for Telstra investors today.

At the current Telstra share price, this ASX 200 telco share has a market capitalisation of $45.5 billion, with a dividend yield of 4.19%. 

The post Why this top broker is tipping 17% upside for the Telstra share price appeared first on The Motley Fool Australia.

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More reading

• Experts name 2 excellent ASX dividend shares to buy next week
• Telstra share price is caught in no man’s land as Optus feud continues
• ASX bounces back and telco titans tussle. Scott Phillips on Nine’s Late News
• The Telstra share price has gone backwards in 2022. Is now the time to pounce?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation 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 positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Are you looking for a way to turn a little bit of money now into a lot of money later? If you’re reading this, you probably are. You’re also looking in the right place to make it happen. The stock market is one of the few means of building significant wealth within one lifetime, even if you’re starting out with next to nothing. Indeed, a modest sum of $20,000 could become as much as $350,000 (or more) if you handle things smartly. Here’s how to make it happen.

Yes, from here all the way to there

Sounds too good to be true? It isn’t. A proverbial down payment of $20,000 on a comfortable future funded by a nest egg of $350,000 is not only possible but also likely. There is a catch, however.

But first things first.

Just for the sake of simplicity, let’s use the S&P 500 Index (SP: .INX) as our proxy for the broad stock market. It’s obviously possible to own individual stocks en route to riches, but it’s easier — and often just as productive — to simply plug into a basket of stocks like the S&P 500.

Let’s also assume the future will more or less look like the past. That is to say, let’s assume the S&P 500 will grow by an average of 10% per year as it has for the past several decades. Some years are better than others; occasionally, the market even logs a loss for the full year. Given enough time, though, yearly 10% returns are a reasonable expectation.

Given these two assumptions, a $20,000 investment in an S&P 500 index fund today should be worth somewhere around $350,000 in 30 years from now.

However, there are two catches to achieving this sort of success with stocks.

The two big keys to success

One of these catches is how your investment is managed once it’s initially been made. Once you’re invested, any gains should be reinvested into the market right away. Ditto for any dividends collected.

It’s called compounding. This approach ensures you’ve got as much money as possible working for you for as long and as often as possible, as you’re earning future gains on prior gains and not just on your initial principle. Without reinvesting your gains, your average annual return on an S&P 500 index fund is cut nearly in half.

The other (related) catch is that you really need to give yourself a full 30 years to achieve this sort of long-term gain. Anything less, and you won’t do nearly as well.

Take another look at the progress chart of a $20,000 investment above. Half of the $330,000 net gain was achieved only in the final seven years of the 30-year stretch. In other words, if you sat on a $20,000 investment for 23 years, you’d only end that timeframe with a little over $160,000. That’s a huge difference, particularly if your nest egg will fund most of your retirement spending.

Of course, this means you’ll want to put your initial money to work as early as you can in life.

Doing something small is better than nothing at all

To be clear, the example above assumes you’ll make only a one-time investment of $20,000 in the stock market and never add new capital. You likely will be able to contribute fresh cash along the way, though. Even a tiny additional annual investment can make a big impact over a period of 30 years. For instance, in the example above, adding just another $2,000 to your holdings at the end of every year would ratchet your eventual nest egg up to a sum of nearly $680,000.

The underlying lesson is the same in both scenarios, though. That is, getting into the stock market as soon as possible and staying as fully invested as possible the whole time — even when it’s uncomfortable to do so — is well worth the time and effort. A relatively small stash can become a surprisingly big one when you earn increasingly more money on your past gains and dividends.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Investing in the stock market could turn your $20,000 into $350,000. Here’s how appeared first on The Motley Fool Australia.

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More reading

• Why is the Atlas Arteria share price hitting the headlines on Monday?
• Rio Tinto share price shrugs off latest blow to Turquoise Hill deal
• Why are ASX 200 tech shares having such a cracking start to the week?
• Why is the Link share price frozen today?
• What could rising interest rates mean for the Bendigo Bank share price?

James Brumley 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 Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Atlas Arteria Group (ASX: ALX) share price has started the session down on Monday and now trades in the red.

At the time of writing, shares in the toll road operator and developer are trading at $7.87 apiece, extending losses over the past month to more than 1.6%.

What’s up with the Atlas Arteria share price?

Shares have traded flat this morning following a company update regarding Atlas’ potential takeover of a new toll road.

In an announcement to the ASX, the company confirmed it was in the running to potentially acquire the Chicago Skyway toll road, in no certain terms.

“ALX regularly reviews growth opportunities and strategic options available to ALX,” it said in the statement.

“ALX confirms that it is participating in the sale process for Chicago Skyway. However, there is no certainty that a transaction will eventuate,” it added.

“[The company] does not propose to make further comment on this transaction until an outcome is known or it ceases to be involved in the sale process.”

Meanwhile, the Atlas Arteria share price has been somewhat of a steady performer this year.

It comes as investors seek out potential hedging plays to overcome the eroding impacts of inflation on their portfolios.

The share had been snaking higher across the year to date. That was until news surfaced it was a potential takeover target from IFM Investors back in June.

Investors sent it in a vertical uptrend, harpooning a new 52-week high onto the chart in the process.

It has held the line since, as seen on the chart below.

In the last 12 months, the Atlas Arteria share price is up 18% after a nearly 14% gain this year to date.

The post Why is the Atlas Arteria share price hitting the headlines on Monday? appeared first on The Motley Fool Australia.

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More reading

• Atlas Arteria share price drives higher on record dividend guidance
• Here are the top 10 ASX 200 shares today

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

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The Rio Tinto Limited (ASX: RIO) share price is in the green in morning trade, up 0.9%.

Rio Tinto shares closed on Friday trading for $94.26 and are currently trading for $95.19 apiece.

Investors don’t appear overly concerned about the latest hiccup standing in the way of the S&P/ASX 200 Index‘s (ASX: XJO) latest acquisition.

Turquoise Hill may not be quite in the bag after all

The Rio Tinto share price has been in focus as the company pursues its acquisition of listed Canadian resource explorer, Turquoise Hill. Rio wants to acquire 49% of the issued and outstanding shares of Turquoise Hill that it doesn’t already own, with an eye on expanding its copper footprint.

Turquoise Hill co-owns the Oyu Tolgoi project in Mongolia, which Rio Tinto says is one of the largest known copper and gold deposits in the world. But there’s a lot of work to be done to get into production. According to estimates from Turquoise Hill, some US$3.6 billion of funding is required to complete the project.

With Rio delivering certainty for those financing needs, that acquisition looked to be in the bag last Tuesday.

Rio Tinto had upped its already improved non-binding proposal of C$40 cash per share for the Canadian miner to C$43 cash per share on 1 September, with an agreement made in principle.

As The Motley Fool reported on Tuesday 6 September, Rio Tinto and Turquoise Hill had progressed the deal to enter into a definitive arrangement agreement. The Turquoise Hill board unanimously recommended shareholders vote in favour of the improved offer.

Rio Tinto CEO Jakob Stausholm said last week that, “After extensive negotiations, the terms of the transaction are final and there will be no further price increase.”

But on Friday, Pentwater Funds, which holds some 11.7% of Turquoise Hill shares, stated Rio’s offer “significantly undervalues” the company.

According to Pentwater (courtesy of Reuters):

The proposed price implies an equity value of $8.65 billion CAD, which is a fraction of the free cash flow that Pentwater expects Turquoise Hill to generate over the next decade. Pentwater expects Turquoise Hill to generate over $10.5 billion CAD of free cash flow through 2030.

Pentwater expects that as the world continues to move towards electrification, copper demand will outpace supply, resulting in strong copper prices over the coming decade.

Stay tuned…

Rio Tinto share price snapshot

While it hasn’t shot the lights out, the Rio Tinto share price has outperformed in 2022, down 4.5% compared to the 8.5% loss posted by the ASX 200.

The post Rio Tinto share price shrugs off latest blow to Turquoise Hill deal appeared first on The Motley Fool Australia.

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More reading

• Top ASX dividend shares to buy in September 2022
• Why did ASX 200 iron ore shares have such a strong end to the week?
• Why is the Rio Tinto share price lifting today?
• Down 8% in a month, could Rio Tinto shares be worth digging into?
• Why are ASX 200 mining shares getting blasted on Wednesday?

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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Tech shares are outperforming the S&P/ASX 200 Index (ASX: XJO) on Monday.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) has lifted 1.6% compared to the broader index’s 0.99% rise at the time of writing.

That makes it the market’s second-best performing sector, behind only the S&P/ASX 200 Materials Index (ASX: XMJ).

Further, the S&P/ASX All Technology Index (ASX: XTX) has lifted 1.21% right now.

So, what’s driving tech shares higher on Monday and which ASX 200 constituents are leading the sector? Let’s take a look.

Why are ASX 200 tech shares outperforming today?

ASX 200 tech shares have started the week out on the right foot following a strong session on Wall Street.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) lifted 2.11% to post its third consecutive gain on Friday after dumping 8.6% between 25 August and 6 September. The index ultimately gained 4.14% over the course of last week.

And ASX 200 tech stocks are following its lead. The tech sector gained 3.8% last week, while today’s rise has boosted it to a three-week high.

It appears that one of the most embattled stocks is posting the biggest gains today. The best performing ASX 200 tech share right now is EML Payments Ltd (ASX: EML), having gained 6.5% to trade at $1.065 at the time of writing.

It plummeted 11% on 24 August after the company revealed it identified fraudulent activity within its debt processing business.

The Block Inc (ASX: SQ2) share price is also posting a notable gain today, rising 4.9% to $109 right now.

Meanwhile, in third place is the Life360 Inc (ASX: 360) share price. It’s currently up 5.5% at $5.73.

Its fellow market favourites Megaport Ltd (ASX: MP1) and NextDC Ltd (ASX: NXT) are also pushing higher, gaining 3.1% and 2.8% respectively.

However, the ASX 200 tech sector has a long way to go to catch up with the broader market. It has dumped 28% year to date, while the All Tech Index has slumped 27%.

For context, the ASX 200 has lost 8% since the start of this year.

The post Why are ASX 200 tech shares having such a cracking start to the week? appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Monday
• Analysts name 3 ASX growth shares to buy next week
• Here are the top 10 ASX 200 shares today
• Why A2 Milk, Life360, Nine, and Ramsay shares are dropping

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 positions in and has recommended Block, Inc., EML Payments, Life360, Inc., and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. and EML Payments. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Link Administration Holdings Ltd (ASX: LNK) share price isn’t going anywhere on Monday.

This morning the company requested its shares be placed in a trading halt before market open.

At the end of last week’s closing bell, the administration services company’s shares finished at $4.48 apiece. It’s worth noting the company’s shares have gained more than 7% in value in the past week.

Why is the Link share price halted?

Prior to the market open, the company requested the Link share price be halted while it prepares an announcement.

The company says it is planning to release a statement on or before Wednesday 14 September.

The request for the voluntary trading halt is in regards to an “update on the regulatory approvals which are conditions precedent to the scheme of arrangement with Dye & Durham Corporation.”

Last week, the Australian Competition and Consumer Commission (ACCC) gave the go-ahead for Canadian-listed Dye & Durham to acquire Link.

The latest offer comprises of $4.81 per share which Link shareholders accepted with a 98% majority in late August.

In addition, Link shareholders will receive a net consideration of up to 13 cents per share from the sale of its Banking and Credit Management (BCM) business. Although, this is provided that the business is sold and proceeds are received up to 12 months after the implementation of the revised scheme.

About the Link share price

Over the past 12 months, the Link share price has moved in circles to return relatively nil gains for the period.

However, in 2022, the company’s shares are down 20%.

Based on its last traded price, Link commands a market capitalisation of roughly $2.3 billion.

The post Why is the Link share price frozen today? appeared first on The Motley Fool Australia.

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More reading

• Link share price surges 9% on ACCC takeover nod
• Here are the top 10 ASX 200 shares today
• Link share price marching higher on revenue boost
• Why are ASX 200 tech shares having such a cracker of a day?
• Link share price dips despite takeover nod

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 positions in and has recommended Link Administration Holdings Ltd. 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 Scott Phillips.

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