Tag: Motley Fool

A single word is all that is needed to sum up the year that Core Lithium Ltd (ASX: CXO) shares have had in 2022 thus far: Crazy. It’s been a crazy year for this ASX 200 lithium share, no two ways about it.

This ASX lithium stock started 2022 at a share price of 63 cents. Today, it has closed at 95 cents a share, up a pleasing 51% year to date. However, Core Lithium was trading far higher just a few months ago.

Back in April, this company hit an all-time high of $1.68 per share. That means that even though Core Lithium shares are up 51% year to date, they are also down more than 40% from that high watermark.

The craziness continues if we dig even deeper.

The incredible volatility that Core Lithium shares have endured over the year so far has extended into recent weeks. Over June alone, Core Lithium lost 31.4% of its value.

So what might be next for this eye-catching share now that we are in July?

What’s next for the Core Lithium share price?

Well, as you might have gathered from that rundown of Core Lithium’s 2022 performance, this is not an easy share to make predictions on.

But much of the woes this company has seen over the past month seem to have been sparked by concerns over the price of lithium itself.

Early last month, we covered how ASX broker Goldman Sachs declared “the battery metals bull market … over for now“. Goldman stated that it sees “prices on a downward trajectory over the course of the next two years, with a sharp correction in lithium …”.

This bearish statement sent Core Lithium shares tumbling, among many others.

Lithium stocks have also been hit by the weakness of the ASX share market in general. June was not a pleasant month for ASX shares, with the S&P/ASX 200 Index (ASX: XJO) losing 8.9%.

Lithium shares tend to be placed on the pointy end of the ‘risk-on’ spectrum of ASX shares by investors. Thus, they often (but not always) outperform the market on good days, but underperform on bad days. So it’s perhaps no surprise to see that Core Lithium had a terrible month.

But if the market has a cracking July, we could well see a significant bounceback in the Core Lithium share price. So if an investor is a keen follower of Core Lithium shares, it might be worth keeping an eye on lithium prices themselves, as well as what the broader market is doing, over the rest of the month.

At the current Core Lithium share price, this ASX lithium stock has a market capitalisation of $1.64 billion.

The post It’s been a crazy year for Core Lithium shares so far. What’s next? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• These ASX 200 mining shares are bouncing back on Thursday
• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• 5 best ASX All Ords mining shares in FY22

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/dacwZLX

The A2 Milk Company Ltd (ASX: A2M) share price was out of form again in the 2022 financial year.

During the 12 months, the struggling infant formula company’s shares dropped 27%.

This meant that the A2 Milk share price had lost almost 80% of its value over the last two years.

What happened to the A2 Milk share price in FY22?

Investors were selling down the A2 Milk share price after its miserable performance continued.

The selling pressure began in August when the company released its full-year results and reported a 30% decline in revenue to NZ$1.21 billion.

Things were even worse for its earnings before interest, tax, depreciation and amortisation (EBITDA), which fell 77.6% year on year to NZ$123 million. This earnings result includes the impact of a massive NZ$109 million write-down of inventory after some very poor inventory management.

And while this very costly write-down has sorted out its inventory issues, it hasn’t stopped its sales and earnings from continuing to decline during the current financial year.

In February, A2 Milk released its half-year results and revealed a 2.5% decline in revenue to NZ$661 million and a 45.3% decline in EBITDA to NZ$98 million. Management blamed its poor performance on a number of factors, including the lower birth rate and rapidly changing market dynamics in China.

And while it believes that its revenue could be stronger in the second half, this won’t necessarily lead to stronger earnings.

A2 Milk’s outlook statement said:

The Company’s outlook for 2H22 revenue has improved. It is still expected to be significantly higher than 2H21, and with growth now expected on 1H22 and for FY22, ahead of initial expectations due mainly to growth in China label and English label IMF. However, this revenue improvement is not expected to translate into higher earnings as the Company significantly increases brand and other reinvestment consistent with its growth strategy.

Next month’s full-year results certainly will be one of the more interesting releases.

The post Here’s why the A2 Milk share price crashed 27% lower in FY22 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• What percentage of A2 Milk shares are owned by institutions?
• 9 ASX 200 shares now trading at ‘significant discounts’: broker
• Why A2 Milk, Bubs, Evolution, and Zip shares are rising despite the selloff
• Here’s why the A2 Milk share price is defying the market selloff on Friday

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 A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/ZjU1Jrm

The S&P/ASX 200 Index (ASX: XJO) poised a recovery today, driven by materials shares. The index was 0.81% higher at 6,648.0 points at the closing bell.

The S&P/ASX 200 Materials Index (ASX: XMJ) brought the market’s biggest gains on Thursday, lifting more than 2%. That came despite commodity prices continuing to retreat overnight.

Iron ore futures slipped 1% during Wednesday’s session overseas to reach US$112.33 a tonne. Meanwhile, copper and nickel fell 2% and 3.6% respectively and gold futures slumped 1.6% to US$1,736.50 an ounce.

Meanwhile, ASX 200 industrial and tech shares suffered as their respective sectors plunged lower. The S&P/ASX 200 Industrials Index (ASX: XNJ) fell 0.8% while the S&P/ASX 200 Information Technology Index (ASX: XIJ) slid 0.5%.

The latter was likely weighed down by rising bond yields. US 10-year yields rose to near 2.93% overnight.

At the end of today’s session, four of the ASX 200’s 11 sectors were in the green.

All that considered, let’s take a gander at which stocks came in as the top 10 best performing ASX shares on Thursday.

Top 10 ASX shares countdown

Looking at the 200 biggest ASX shares by market capitalisation, one stood out as a clear winner today.

The Chalice Mining Ltd (ASX: CHN) share price launched 6.6% on the back of exploration results. Find out more about what Chalice has been up to here.  

And coming in second-best was Link Administration Holdings Ltd (ASX: LNK). Its share price gained 6.1% after a suitor increased its takeover offer for the company. Read more about the takeover bid’s evolution here.

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

ASX-listed company	Share price	Price change
Chalice Mining Ltd (ASX: CHN)	$4.00	6.67%
Link Administration Holdings Ltd (ASX: LNK)	$4.065	6.14%
South32 Ltd (ASX: S32)	$3.695	4.67%
Boral Limited (ASX: BLD)	$2.63	4.37%
HUB24 Ltd (ASX: HUB)	$23.02	3.83%
Rio Tinto Limited (ASX: RIO)	$96.93	3.81%
Fortescue Metals Group Limited (ASX: FMG)	$17.10	3.76%
Allkem Ltd (ASX: AKE)	$9.96	3.75%
Eagers Automotive Ltd (ASX: APE)	$10.58	3.42%
Mineral Resources Limited (ASX: MIN)	$44.28	3.24%

Data as at 3:59 pm AEST.

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.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Fortescue share price lifts with Australia’s record high trade surplus
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 5 worst ASX energy shares of FY22
• Is now the time to be buying beaten down ASX 200 mining shares?
• Why Chalice Mining, Damstra, Link, and Pinnacle shares are storming higher

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 Hub24 Ltd and Link Administration Holdings Ltd. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/8lQeDYZ

It was a mildly positive day for ASX shares on Thursday. At the closing bell, the All Ordinaries Index (ASX: XAO) had risen by a decent 0.8% to just over 6,830 points. But it was a bit more of a mixed bag for ASX coal shares.

The ASX’s largest pure-play coal share – Whitehaven Coal Ltd (ASX: WHC) – had a corker. It finished up a healthy 1.7% at $4.73 a share.

But other coal shares weren’t as fortunate. Take New Hope Corporation Limited (ASX: NHC). New Hope shares took a 1.43% tumble back to $3.44.

But that stands in stark contrast to Yancoal Australia Ltd (ASX: YAL). It even beat Whitehaven, rising by a pleasing 3.99% to $4.95 a share at the close.

So why this mixed bag? Well, it’s not clear. But we did get some significant news today that covers all ASX coal shares. And it’s news that one would think would give investors in this space a surge of confidence.

ABS data shows ASX coal shares’ exports are surging

According to data released by the Australian Bureau of Statistics (ABS) today, Australia’s trade surplus has widened considerably. The surplus increased by $2.717 billion over May to reach a total of $15.965 billion.

The country’s trade surplus (or deficit) is determined by the total value of the nation’s exports, minus the value of its imports. A trade surplus means we are exporting more than we are importing (a deficit being the opposite).

Imports rose by 5.8% to $42.44 billion over May, driven mainly by higher fuel costs, but exports surged by even more, up 9.5% to $58.4 billion. The ABS tells us that this rise was propelled by “rises in exports of coal, coke and briquettes and other mineral fuels”.

Indeed, reporting from the Australian Financial Review (AFR) reveals that “in dollar terms the value of coal exports were larger than the value of iron ore exports in May for the first time since April 2009”, largely thanks to surging coal prices in the wake of the war in Ukraine.

This is obviously fairly momentous news for ASX coal shares. One might think that topping iron ore in exports for the first time in 23 years might be good news for ASX coal share prices. But it seems the good news only flowed through to some ASX coal shares on the market today. Go figure.

The post Becoming Australia’s biggest export failed to ignite ASX coal shares today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why I think these 2 ASX All Ords shares are at bargain prices in July
• 5 worst ASX energy shares of FY22
• 2 appealing ASX All Ords growth shares getting discounted today
• 5 best ASX All Ords mining shares in FY22
• Whitehaven share price takes off despite climate legal challenge

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/0GKUpEI

The Sayona Mining Ltd (ASX: SYA) share price was a star performer in FY22 after clipping some serious gains across the year.

Shares rallied from 5.9 cents to over 15.5 cents in the 12 months to June 30 2022. At one point, Sayona was trading as high as 38 cents apiece on 19 April.

Sayona share price FY22 summary

After trading sideways for the good portion of the year, the Sayona share price caught a bid back in March following news on its North American Lithium (NAL) and Authier projects.

Both projects have a combined, measured, indicated, and inferred mineral resource of 119.1 million tonnes at 1.05% lithium oxide, a doubling of its previous estimates.

The company’s CEO, Brett Lynch said the project “is set to show significantly enhanced profitability for the benefit of shareholders”.

Investors were galvanised by the news and rallied the share to 52-week highs in the weeks following.

However, things took a turn for the worst from 14 April and the Sayona share price began to falter downward in an almost vertical fashion.

Around the same time, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) also peaked and reversed out of a long-term uptrend.

The weakness had transposed over to Sayona with the share now trading back in line with its October 2021 levels.

The relationship between the two instruments became fairly tight around April and both subsequently incurred heavy losses at the back end of FY22, as seen below.

Adding to the selling pressure was a bearish note out of Goldman Sachs illustrating its downbeat view on the outlook of lithium.

The research note swept through the lithium crowd resulting in losses throughout the basket, and Sayona wasn’t immune.

However, lithium still trades at A$104,090 per tonne, up from its May levels of A$100,149 per tonne, and just a shade off its record highs.

After a hefty run, the Sayona share price is now trading around 13% higher for the year to date.

The post How did the Sayona Mining share price perform in FY22? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why did the Sayona Mining share price crash 32% in June?
• Why Regis Resources, Sayona, Woodside, and Xero shares are pushing higher
• Why BWX, Sayona Mining, Tyro, and Woodside shares are sinking
• Why have ASX lithium shares had such a lousy month in June?
• Why are Sayona Mining shares the most actively traded of the All Ords 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.

from The Motley Fool Australia https://ift.tt/LHfNThq

The All Ordinaries index was well and truly out of form during the last financial year. During the 12 months, the index lost approximately 11% of its value.

Among the many movers and shakers two ASX shares stand out for very different reasons. One saw its shares smash the market with mouth-watering returns, whereas the other crashed lower and destroyed shareholder wealth.

They are as follows:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price was the best performer on the All Ordinaries index during the 2022 financial year after rising from 16 cents to 78 cents. This represents a 388% gain and would have turned $10,000 investment into $48,750.

Booming lithium prices and excitement over the company’s massive Manono Lithium and Tin project in the Democratic Republic of the Congo were behind this gain. Though, it is worth noting that an ownership dispute relating to the project has led to the company’s shares being suspended from trade since early May.

Shareholders will no doubt be hoping that the ongoing arbitration proceedings don’t deliver a negative outcome and wipe out some of these impressive gains.

Sezzle Inc (ASX: SZL)

The Sezzle share price was the worst performer on the All Ordinaries index during the financial year after crashing from $8.81 down to a lowly 26 cents. This equates to a massive 97% decline and would have reduced a $10,000 investment into just $295.

Concerns over increasing competition in the buy now pay later (BNPL) industry, weakness in the tech sector, and the market’s sudden disdain for loss-making shares are largely to blame for this decline.

Not even a potential merger with Zip Co Ltd (ASX: ZIP) was able to support its shares. Interestingly, the Zip share price lost 95% of its value during the same period, dropping from $7.57 to 44 cents.

The post Guess which 2 ASX shares were the best and worst All Ordinaries performers of FY22 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Block, Bubs, Infomedia, and Zip shares are dropping
• Zip share price cops 6% slashing as analyst fears grow
• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• Up 49% today, Sezzle share price says see you later to all-time low

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 positions in and has recommended ZIPCOLTD FPO. 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.

from The Motley Fool Australia https://ift.tt/Ha1kp9U

I think the ASX share market sell-off means there are some compelling ASX All Ordinaries (ASX: XAO) shares to consider.

Investors have been keeping in mind a number of different factors including inflation and rising interest rates.

While higher interest rates do, in theory, justify lower asset prices, I think the lower valuations are attractive and worthwhile pursuing.

I love buying investments at good prices, which I believe we are now being widely presented with.

With that in mind, I rate these two ASX All Ords shares as buys:

GQG Partners Inc (ASX: GQG)

GQG is one of the largest fund managers on the ASX, with a market capitalisation of around $4 billion, according to the ASX.

In terms of how much better value it is, the GQG Partners share price has fallen by 27% over the last six months and is currently $1.34.

The business generates a “vast majority” of its net revenue from management fees rather than performance fees. Therefore, changes in the funds under management (FUM) can have a major impact on revenue, net profit after tax (NPAT) and cash flow. It also affects the dividend because the company has committed to paying dividends of 90% of its distributable earnings.

The monthly FUM update for May 2022 showed FUM rose US$4.2 billion to US$94.6 billion. GQG’s latest quarterly update for the three months to 31 March 2022 showed net inflows of US$3.4 billion. That quarterly update included commentary about business momentum across multiple geographies and channels.

Estimates on CMC Markets indicate a possible 2022 dividend of 13.1 cents, equating to a dividend yield of 9.8%. I think there’s a lot to like about this ASX All Ords share, with its growing FUM, big dividend yield, and expanding reach.

Altium Limited (ASX: ALU)

Altium is a leading electronic PCB design software and it’s becoming increasingly involved in the wider electronics industry.

Since the start of the 2022 year, the Altium share price has fallen around 35%. For a quality company like Altium, I think a price of under $30 is attractive.

There are several things that attract me to this business. It has a goal of being the dominant market leader of its sector. By FY26, it hopes to be generating US$500 million of revenue, with 100,000 subscribers. In 2025 it wants 95% of its revenue (excluding China) to be recurring revenue.

Altium can benefit from the huge surge in electronics in various places, such as cars. The company says that printed circuit boards are “central to the design and realisation of electronics and smart connected products”.

It has numerous blue-chip customers including Tesla, NASA, Boeing, Cochlear Limited (ASX: COH), Alphabet, Amazon.com, Disney, Apple, Microsoft, Broadcom and many more.

The company is expecting to grow its profit margins as it gets bigger and it’s also steadily growing its dividend. Altium is also debt-free.

I’m quite excited by the rapid client adoption of its cloud offering called Altium 365 which connects different parts of the electronics value chain, as well as Altimade.

Altimade “provides cloud-based smart manufacturing that will improve productivity and manufacturability of electronics hardware and manage the supply chain of components as well as production risk”.

The post Why I think these 2 ASX All Ords shares are at bargain prices in July appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 worst ASX energy shares of FY22
• 2 appealing ASX All Ords growth shares getting discounted today
• 5 best ASX All Ords mining shares in FY22
• What percentage of Altium shares are owned by insiders?
• Here are the top 10 ASX shares today

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Altium, Amazon, Apple, Cochlear Ltd., Microsoft, Tesla, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $145 calls on Walt Disney, long March 2023 $120 calls on Apple, short January 2024 $155 calls on Walt Disney, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Cochlear Ltd., and Walt Disney. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/IOnplPQ

The Fortescue Metals Group Limited (ASX: FMG) share price is in the green today. Its rise came as data outlining a record trade surplus of nearly $16 billion – driven by coal and iron ore – hit headlines.

The Fortescue share price is trading 3.58% higher at $17.07 at the time of writing.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.65% while the S&P/ASX 200 Materials Index (ASX: XMJ) has gained 2.16%.

Let’s take a closer look at today’s news from the Australian Bureau of Statistics (ABS).

Fortescue share price lifts on Thursday

The Fortescue share price lifted today after the ABS released data outlining a notable jump in metal ores and minerals exports in May.

Approximately $14.5 million worth of metal ores and minerals were exported from Australia in May – a 2.8% month-on-month increase.

That helped boost Australia’s total trade surplus to $15.965 billion in May – more than 20% higher than that of April. In that time, exports rose 9.5% while imports lifted close to 6%.

However, it was coal that was the major driver of the country’s record trade surplus. The export value of the black rock saw a 20% month-on-month increase – coming in at more than $14.6 million in May.

Today’s Fortescue share price’s gain also follows a poor session for its major commodity’s value. The iron ore futures price fell 1% overnight to reach US$112.33 a tonne.

And the future could bring more downfalls for the price of iron ore. Commonwealth Bank of Australia (ASX: CBA) senior economist Belinda Allen was quoted by the Australian Financial Review as saying:

We expect China to reduce steel output later this year, similar to what occurred in 2021. As a result, we expect further falls in the price of iron ore from here.

Other ASX 200 iron ore giants are also in the green on Thursday. The share prices of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are trading 2.78% and 3.93% higher respectively.

The post Fortescue share price lifts with Australia’s record high trade surplus appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Is now the time to be buying beaten down ASX 200 mining shares?
• 5 ASX dividend shares with the highest yields in FY22
• These ASX 200 mining shares are bouncing back on Thursday
• ASX hydrogen shares announced some big news last month, so why did so many end June in the red?
• ASX lithium stocks avoid share price shock amid commodities lashing

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/GiDRW13

Tabcorp Holdings Limited (ASX: TAH) has outlined how it plans to compete with some of its online rivals.

Tabcorp shares are currently jumping 0.95% and are trading at $1.06. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.41% today.

Let’s take a look at what Tabcorp is planning.

Tabcorp plans

Tabcorp is planning to create a new app in time for the Spring Racing season to compete with some competitors, according to the Financial Review.

The company’s CEO Adam Rytenskild reportedly wants to compete with online gambling competitors including Sportsbet and Ladbrokes. In comments cited by the publication, he said:

There’s still too many people on blue and red apps … sitting in pubs

Rytenskild was appointed as the managing director and CEO from 1 June 2022 on a fixed salary including super of $1.5 million.

This followed the company offloading Lottery Corporation Ltd (ASX: TLC). Rytenskild has more than 20 years of experience in the betting entertainment industry.

In a recent investor day presentation, Tabcorp said 65% of turnover is digital. However, the company has about 25% of the digital market share. The company has 641,000 active users and is found in more than 4,000 venues in Australia.

Of the company’s total bettors, 60% bet digitally as well as in venues known as “omni-channel bettors”.

Tabcorp said these customers are approximately “2 times more valuable than digital only customers, adding:

They engage more frequently and are less subject to churn.

As my Foolish colleague Sebastian reported today, Tabcorp was one of the highest yielding ASX dividend shares in the 2022 financial year.

The company provided a fully franked dividend of 13.5 cents per share during the financial year.

Tabcorp share price snapshot

Tabcorp shares have gained 14% in the past year, while it is up nearly 11% year to date.

In contrast, the ASX 200 has shed nearly 10% in a year.

The company’s share price has jumped about 32% in the past five years.

The post Own Tabcorp shares? Here’s the company’s plan to step up against the competition appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 ASX dividend shares with the highest yields in FY22
• 5 best ASX All Ordinaries shares in June
• These were the best performing ASX 200 shares in June
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Are potential suitors getting ready to take another punt on the Tabcorp share price?

from The Motley Fool Australia https://ift.tt/NOStfW6

The Ethereum (CRYPTO: ETH) price went on quite a ride during the 2022 financial year ending 30 June.

It brings to mind Charles Dickins’ first line (or the first part of that first line) in A Tale of Two Cities. Namely, “It was the best of times, it was the worst of times…”

By the time the smoke cleared, the Ethereum price was down 55% for the 12-month period, according to data from CoinMarketCap.

How did it get there?

First, the best of times.

Ethereum price hit all-time highs in FY22

Ethereum, the world’s number two token by market cap, kicked off FY22 trading for US$2,274 after falling sharply from its May 2021 peaks.

From there the cryptocurrency went charging higher for the next three and a half months, though not in any kind of straight line, mind you. By 16 November the Ethereum price had reached a new record high of US$4,892, which remains the virtual high water mark today.

It was a similar story across most risk assets, including Bitcoin (CRYPTO: BTC), which hit its own record highs on 10 November.

Not coincidentally, mid-November also saw the tech-heavy NASDAQ reach all-time highs.

Which brings us around to the worst of times.

Risk assets hammered amid rising interest rate expectations

By mid-November the first signs of persistent and unexpectedly high inflation figures began to seep through. And investors began lightening their holdings of risk assets in anticipation of some sharp interest rate hikes to come.

This saw the NASDAQ tumble 31% from its November peak through to 30 June 2022.

The more volatile Ethereum price fell more than twice that hard, ending the financial year trading for US$1,018, down 79% from its 16 November levels.

The falls came despite progress being made transitioning the Ethereum blockchain from proof-of-work to proof-of-stake.

The switchover, years in the planning and now dubbed ‘the merge’ will increase the speed and lower transaction costs on the blockchain. Importantly, it will also greatly reduce the crypto’s carbon footprint as the proof-of-stake protocol requires far fewer energy hungry computers.

Supporters hope the merge will eventually help the Ethereum price outperform once more.

The post Why FY22 was the best and worst of years for the Ethereum price appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• The Ethereum price collapsed 47% in June. Here’s why
• How did the price of crypto assets perform in June?
• Ethereum price falls after hackers begin laundering $100 million bridge exploit
• What one tech guru thinks of the current crypto market
• Why Bitcoin, Ethereum, and Dogecoin are down today

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 positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/xhfBQ0L