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Ask A Fund Manager

The Motley Fool chats with the best in the industry so that you can get an insight into how the professionals think. In this edition, Datt Capital principal Emanuel Datt predicts when volatility in ASX shares might calm and which sector he would stay out of.

Investment style

The Motley Fool: How would you describe your fund to a potential client?

Emanuel Datt: I would say that Datt Capital seeks to identify growth and special situation opportunities within Australian markets solely. 

I would say that we invest in a concentrated but agnostic manner typically holding less than 20 positions, with the flexibility to invest across asset classes. 

I’d also point out that the fund, since inception in 2018, has achieved an annual compound return of over 17%, which is about double what the S&P/ASX 200 Index (ASX: XJO) total return index has returned over the same period. 

I think we’ve proven our ability to perform, whether it be rain, hail, or sunshine… and looking forward to more of it.

MF: Stock markets have changed significantly since we last spoke. How are you feeling about the situation at the moment?

ED: Yeah, pretty good. I think that we’re expecting markets to stabilise a little bit over the next month or so. I think that a lot of heat has come out of the market over the last three months or so, and I think that’s all part of the natural cycle ultimately. Not everything can go up in a straight line. There’s always peaks and troughs.

MF: While inflation and interest rates were the big anxiety points in the first half of the year, the worries now seem to have moved to the prospect of a recession?

ED: Typically what we see is with higher inflationary times, there’s typically a higher probability of a recession occurring, I would say. I should also add that things always tend to trend. If we’re sitting [in] a bit of a downturn at the moment, whether that be in retail spending or whichever sort of metric you’re tracking, these conditions tend to… trend for a period of time before reversing. 

I think that it’s pretty fair, the fears of a recession blooming. I think those fears are well founded.

MF: Despite recession fears, you are expecting the markets to stabilise in about a month or so. That’s because markets are forward looking?

ED: Yeah, exactly. Markets are always priced according to what’s expected in the future, rather than present circumstances as such. 

I think that ultimately, as I pointed out before, the market has experienced a lot of selling towards the tail end of this financial year. We think that a lot of [share rises] over the next month or two will be just the stopping of tax-loss selling. 

You generally have [a] pretty positive seasonal effect in July for markets typically. I think there’s obviously plenty of money rotating into different stocks at the start of the financial year in July. 

Definitely expecting July to be positive but beyond that, it’s always hard to say, isn’t it?

MF: Plenty of bargains out there for a long-term investor, you reckon?

ED: Yeah. Well, I think the markets have changed and I think it’s just really making sure you’ve got exposure to the right sectors and opportunities.

What’s worked over the past two to three years I don’t think is going to be quite the same in the sense of the best opportunities and sectors to invest in. I think that ultimately [in] times of high inflation, it’s always better to stick to more tangible and cash generative businesses, rather than opportunities that perhaps still have time to play out or are not yet tangible.

MF: What are some sectors that you might have participated in in the past that you’re staying away from at the moment?

ED: Technology broadly, I think, is going to struggle going forward. 

I remember the past two or three years we’ve been talking about price-for-sales multiples — that was a popular metric that we’d been seeing plenty of. But I think now it’s all about just being purely focused on, “Okay, well has the company got positive earnings?” 

Because if it isn’t, then it might be a bit too risky for some investors ultimately. I think just about using metrics itself, they’ll become overused, we’ll be changing quite significantly.

The post ‘Always peaks and troughs’: Fundie names when ASX shares will stabilise appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Liontown Resources share price rockets 9% amid broker’s positive lithium outlook
• What was the highest ever Xero share price?

Motley Fool contributor Tony Yoo 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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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a day to remember. The benchmark index rose 1.95% to 6,706 points.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market appears to be running out of steam but is still expected to open slightly higher on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points or 0.1% higher. On Wall Street, the Dow Jones slipped 0.2%, the S&P 500 fell 0.3%, and the Nasdaq dropped 0.7%.

Collins Foods results

The Collins Foods Ltd (ASX: CKF) share price will be on watch today when the KFC restaurant operator releases its full year results. No guidance was given for FY 2022, but the market will be looking for further solid growth after a positive first-half which saw Collins Foods report an 8.5% increase in revenue and a 10% jump in EBITDA.

Oil prices push higher

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent day after oil prices stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.9% to US$109.68 a barrel and the Brent crude oil price has climbed 1.9% to US$115.27 a barrel. Talks of new sanctions on Russia boosted prices.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have another poor day after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.35% to US$1,823.6 an ounce. A rise in U.S. 10-Year Treasury yields weighed on the precious metal.

OZ Minerals rated as a buy

Goldman Sachs remains positive on the OZ Minerals Limited (ASX: OZL) share price. This is despite the copper producer downgrading FY 2022 copper production guidance by ~8% and increasing unit costs by ~25%. Goldman has retained its buy rating with a trimmed price target of $26.10. The broker believes investors should focus on its positive medium term growth outlook, which is unchanged.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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More reading

• What fuelled the Beach Energy share price 4% higher today?
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Evolution, Newcrest, OZ Minerals, and Zip shares are dropping today
• Liontown Resources share price rockets 9% amid broker’s positive lithium outlook

Motley Fool contributor James Mickleboro has positions in Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods 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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During turbulent times like now, it is imperative to properly balance risk and return when investing in ASX shares.

That’s according to Wilsons head of investment strategy David Cassidy, who said share markets are under threat.

“The risk of recession has increased over the past month,” he said in a Wilsons memo.

“We think that risks are likely to stay elevated as the market becomes more concerned about the growth outlook as the US Fed and RBA hike rates at a lightning pace over the next 3 months.”

To combat this uncertainty, Wilsons analysts have adjusted their “focus list” of desirable ASX shares.

But don’t get too conservative, is the advice from Cassidy.

“We implore investors not to get too bearish as we believe global inflation — led by the US — and recession risks should fade over the next 6 months.”

He then named three ASX shares that his team has added, with one specifically a standout:

‘Quality can outperform over the long run’

Wilsons analysts believe there are some quality companies selling for excellent value after the recent market sell-off.

“We believe quality can outperform over the long run and should generate even better relative returns if bought at a reasonable price,” said Cassidy.

“We screened the S&P/ASX 300 (INDEXASX: XKO) and found a dozen names of quality stocks that look ‘value’.”

Subsequently, his team has added its weighting to CSL Limited (ASX: CSL) and Telstra Corporation Ltd (ASX: TLS).

CSL shares have lost 8.6% since the start of the year, and still have not returned to their pre-COVID high.

Similarly the Telstra share price has dipped 8.9% year-to-date, although it is 7.4% higher over the past 12 months.

But the overwhelming winner in the hunt for “quality defensives”, as Cassidy calls them, is Cleanaway Waste Management Ltd (ASX: CWY).

Recurring revenue from long-term and inflation-protected contracts

Cassidy described the waste management provider as displaying “quality earnings growth with defensive characteristics”.

“The majority of Cleanaway’s revenue is contracted and therefore recurring,” he said.

“Multi-year contracts provide steady volumes and recurring revenues and include appropriate price adjustment mechanisms.”

To demonstrate, Cassidy cited how the company’s local government contracts typically run for seven to 10 years. Commercial and industrial clients often sign up for 3 or more years.

Adding to this is that Cleanaway’s business is “largely insulated” from inflation via contract terms that allow pricing to move up if expenses do.

“The key costs for CWY are labour, waste disposal and fleet costs (fuel, repair and maintenance, etc),” said Cassidy.

“Rise and fall clauses in contracts capture relevant labour fuel and general CPI changes.”

Cleanaway also has a dominant position in an industry that has very high barriers to entry.

The share price has fallen almost 20% year-to-date, and Wilsons reckons the sell-off is overdone.

“Cleanaway trades on a 12-month forward PE of 27x. We think this is a reasonable multiple for a quality defensive in a market-leading position, with long-term contracts insulated from inflationary pressures,” said Cassidy. 

“This multiple also looks reasonable relative to the 25% growth expected over the next few years for Cleanaway.”

The post ‘Don’t get too bearish’: 3 ASX shares Wilsons just added appeared first on The Motley Fool Australia.

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More reading

• Could Telstra shares be set for a new ASX-listed competitor?
• How much have CSL shares paid in dividends over the last 5 years?
• Why this broker is tipping ‘strength in the CSL share price’
• Brokers name 3 ASX shares to buy today
• ‘Just didn’t cut it’: Look out Telstra, a new high-speed start-up is coming for you!

Motley Fool contributor Tony Yoo has positions in CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. 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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The good news for growth investors is that there are plenty of shares on the Australian share market with strong long term growth potential.

Two such shares are listed below. Here’s why analysts are very positive on their long term growth prospects:

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat could be an ASX growth share to buy. It is a gaming technology company best-known for its industry-leading poker machines. However, it is so much more. The company also has a digital business, named Pixel United, which is generating significant recurring revenues from its growing portfolio of mobile games. These include games such as Raid: Shadow Legends, EverMerge, Big Fish Casino, and Vikings: War of Clans.

But management isn’t resting on its laurels. As well as investing heavily in research and development each year, it is aiming to expand and win a big share of the emerging real money gaming market.

Citi is very positive on Aristocrat. Its analysts believe the company “represents a compelling long-term growth story.” Citi currently has a buy rating and $41.00 price target on the company’s shares. This implies potential upside of 18% for investors.

Xero Limited (ASX: XRO)

Another ASX growth that could be a buy is Xero. It is a cloud-based accounting solution platform provider taking on the likes of MYOB, Quickbooks, and Sage.

Pleasingly, despite this competition, Xero continues to grow at a rapid rate. For example, in FY 2022, the company delivered a 29% increase in revenue to NZ$1.1 billion and a 28% jump in annualised monthly recurring revenue (AMRR) to NZ$1.2 billion. This was supported by a 19% increase in total global subscribers to 3.3 million thanks to growth in all markets.

And while 3.3 million may sound like a large number, it is still only a small slice of its total addressable market of 45 million subscribers globally. Thanks to this and its plan to further monetise its growing user base, Goldman Sachs believes Xero has a very long growth runway.

As a result, the broker currently has a buy rating and $118.00 price target on its shares. This implies potential upside of 42% for the Xero share price.

The post Analysts tip big returns from these ASX growth shares appeared first on The Motley Fool Australia.

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More reading

• What was the highest ever Xero share price?
• Here’s what I consider to be the very best ASX 200 share to buy in July
• 9 ASX 200 shares now trading at ‘significant discounts’: broker
• Why is the Xero share price leaping higher today?
• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment

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 Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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Investors that are looking for dividend options might want to check out the two ASX shares listed below.

That’s because both of these ASX dividend shares have recently been tipped to as buys with attractive yields. Here’s why analysts are bullish:

Baby Bunting Group Ltd (ASX: BBN)

Baby Bunting could be a dividend share to buy. It is a baby products retailer with a strong presence both online and through its growing collection of national superstores.

Citi is a fan of the company and believe its strong growth outlook deserves a premium valuation.

It commented: “We see Baby Bunting well placed to outperform the broader small cap retail sector this year given the non-discretionary nature of its category. […] Further, the stocks growth prospects are in some respects less risky than other high multiple retailers who are relying more on new markets and acquisitions.”

The broker currently has a buy rating and $6.22 price target on its shares.

As for dividends, Citi is forecasting fully franked dividends per share of 16 cents in FY 2022 and 19 cents in FY 2023. Based on the current Baby Bunting share price of $4.37, this will mean yields of 3.7% and 4.3%, respectively.

Mineral Resources Limited (ASX: MIN)

Mineral Resources could be another ASX dividend share to buy. It is a mining and mining services company with exposure to iron ore and lithium.

Analysts at Goldman Sachs are very positive on the company. This is due to the broker forecasting the “more than doubling of group EBITDA to over A$2bn in FY23 driven by higher lithium and low grade iron ore prices, and a 5% increase to mining services volumes to ~300Mt.”

Its analysts currently have buy rating and $73.00 price target on its shares.

Furthermore, Goldman is forecasting fully franked dividends of 78 cents per share in FY 2022 and then 272 cents per share in FY 2023. Based on the latest Mineral Resources share price of $48.71, this will mean yields of 1.6% and 5.6%, respectively.

The post 2 excellent ASX dividend shares rated as buys by brokers appeared first on The Motley Fool Australia.

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More reading

• 3 ASX lithium stocks this fund manager is holding despite sector pullback
• Why are ASX 200 mining shares having such a dire week?
• Why did the Mineral Resources share price tumble on Thursday?
• Why I think these 2 ASX shares are ideal for growth investors
• 2 ASX dividend shares that brokers are tipping as buys right now

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 Scott Phillips.

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The Beach Energy Ltd (ASX: BPT) share price heated up on Monday despite no announcement from the company.

At today’s closing bell, the energy producer’s shares finished 4.1% higher to $1.65 apiece.

By comparison, the S&P/ASX 200 Index (ASX: XJO) was also on the rise, up 1.94% to 6,706 points.

What drove Beach Energy shares ahead on Monday?

Investors were buying up the Beach Energy share price following a rebound across the S&P/ASX 200 Energy (ASX: XEJ) index.

The sector comprises 11 of the largest companies that operate in the oil, gas, and coal industry.

As such, the ASX 200 benchmark energy index surged 2.56% to 9,907 points today.

This represents a sharp turnaround after the sector fell almost 4% over the past two consecutive trading days.

The change in sentiment is being driven by the US Federal Reserve’s indication that a recession in the United States will be narrowly avoided.

Previously, the central bank used its toolkit to combat high inflation levels by tightening up its monetary policy.

The decision to lift interest rates by 0.75% spooked financial markets earlier this month as economists worried that recession was looming.

Nonetheless, these fears have been put to rest for now with global markets rallying to recover the losses incurred.

Shares in Beach’s energy peer Woodside Energy Group Ltd (ASX: WDS) also closed the day 2.32% higher.

The boost in energy shares also follows the price of oil edging slightly higher throughout Monday.

The West Texas Intermediate (WTI) is currently trading at US$107.7 per barrel, up 0.08% in the past 24 hours.

Beach Energy share price summary

Over the last 12 months, the Beach Energy share price has risen by 27%, with year-to-date up 31%.

The company’s shares hit a 52-week high of $1.905 on 9 June before quickly erasing their strong gains.

Based on valuation grounds, Beach Energy commands a market capitalisation of roughly $3.76 billion.

The post What fuelled the Beach Energy share price 4% higher today? appeared first on The Motley Fool Australia.

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More reading

• Why Beach, Cooper Energy, Leo Lithium, and Whitehaven Coal are dropping
• 5 things to watch on the ASX 200 on Friday
• What’s going on with the Beach Energy share price on Thursday?
• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the Beach Energy share price is leaping 4% today

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 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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A Melbourne man has been sentenced to 14 months’ imprisonment for insider trading of ASX shares.

The County Court of Victoria on Monday handed down the sentence to former Sigma Healthcare Ltd (ASX: SIG) general manager Michael Story of Elwood, Victoria.

Story was also ordered to pay a fine of $30,000 and a penalty of $70,179.37, which was the level of benefit he illegally derived from insider trading.

The court found the executive sold his Sigma shares while he had information about the business that the public did not know about.

Sold his shares before they fell 40%

The insider information related to Sigma’s supplier relationship to giant pharmacy retailer Chemist Warehouse.

On 2 July 2018, Sigma announced to the ASX that its supply contract would cease on 30 June 2019. This significant loss of business led to the share price plunging 40% that day.

An Australian Securities and Investments Commission investigation found Story was “heavily involved” in the contract negotiations, and privately knew the deal wouldn’t be renewed.

He was also aware that the failure to renew the Chemist Warehouse relationship would have a massive impact on the Sigma stock price.

Despite knowing this, he sold 250,000 Sigma shares for $202,629.

ASIC deputy chair Sarah Court said Story was “a true insider” who had “sensitive company information” that would impact the share price. 

“He sold his shares with inside information, giving him an unfair advantage,” she said.

“This criminal conduct threatens the integrity of Australia’s financial markets. ASIC will continue to pursue cases of using inside information to illegally trade on our markets.”

No other reason other than personal benefit

Judge Simon Moglia condemned Story’s dishonesty and found there was no explanation for his actions other than to avoid personal loss.

The former executive would have been sentenced to two years’ imprisonment if he had not pleaded guilty and instead contested the accusations. 

Story was released upon a recognizance of $5,000 and a three-year good behaviour period.

At the time of Story’s offences, the maximum penalty for insider trading was 10 years’ jail. It is now 15 years.

The Commonwealth director of public prosecutions prosecuted the case against the former executive after an ASIC referral.

The post Melbourne man jailed for insider trading of ASX shares appeared first on The Motley Fool Australia.

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More reading

• Down 60% in 2022, what’s happening to the Pure Hydrogen share price?
• Will AVZ Minerals shares finally return to trade this week?
• Here are the top 10 ASX shares today
• 2 oversold stocks to buy in the Nasdaq bear market
• Here’s the Rio Tinto dividend forecast through to 2024

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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2022 has been a rough month for many ASX shares, not to mention the All Ordinaries Index (ASX: XAO). Since the start of the year, the All Ords remains down by more than 13%, even after today’s monster rally. But that’s nothing compared to the Pure Hydrogen Corporation (ASX: PH2) share price.

Pure Hydrogen shares have been smashed this year. The company started 2022 at a price of 57 cents a share. But as of today’s close, its share price is 22 cents. That’s down 61.4% year to date.

It’s certainly been a wild ride for the company over the year so far. Pure Hydrogen saw some big share price rises earlier in the year following news of a joint venture that will see the company working to supply hydrogen-powered vehicles to the Indian market.

We also saw renewed interest following the March announcement that Pure Hydrogen would seek to develop and commercialise the manufacture of ‘turquoise hydrogen’.

But more recent months have seen investor confidence wane. This has resulted in Pure Hydrogen shares retreating back to the 22 cent level we see today.

Pure Hydrogen share price suspended… What happened?

However, the Pure Hydrogen share price might be stuck at 22 cents for a while. That’s because the company’s shares have actually been suspended from ASX trading as of this morning. Before market open today, Pure Hydrogen put out an ASX notice to the markets confirming a share price suspension from quotation.

Here’s that notice in full:

The securities of Pure Hydrogen Corporation Limited (‘PH2’) will be suspended from quotation immediately under Listing Rule 17.3, pending ASX’s inquiries into a PH2 presentation made selectively available on 23 June 2022.

And that’s all we know for now.

The “PH2 presentation made selectively available on 23 June 2022″ would appear to be the presentation Pure Hydrogen released on that day. This outlined the settlement the company reached with the Australian Taxation Office (ATO). It stated:

Pure Hydrogen has settled a dispute to repay R & D tax incentive refunds with the Department of Industry and Science (ISA) and the Australia Taxation Office (ATO)…

Accordingly, Pure Hydrogen will have turnaround of approximately $13.1M – it will no longer [be] liable for a claim from the ATO of $7.2M to repay R & D tax incentive refunds and instead be entitled to a refund estimated at $5.9M.

So it’s unclear why this presentation has caused the ASX to initiate an inquiry into the company at this stage. We shall have to wait and see what the company says next.

Meantime, the last Pure Hydrogen share price gives the company a market capitalisation of around $75.26 million.

The post Down 60% in 2022, what’s happening to the Pure Hydrogen share price? appeared first on The Motley Fool Australia.

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More reading

• Investing in ASX hydrogen shares? Here’s what you should know

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.

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It has been some time since we have seen any movement from the AVZ Minerals Ltd (ASX: AVZ) share price.

It was slammed into a trading halt on 9 May and has been suspended from trade since then.

Why are AVZ shares suspended?

The company requested that its shares be suspended from trade while it deals with arbitration proceedings relating to an ownership dispute.

Chinese mining company Jin Cheng Mining Company is seeking to be recognised as a shareholder of Dathcom Mining, which is the ultimate owner of the Manono Lithium and Tin Project in the Democratic Republic of the Congo.

Depending on the outcome of the arbitration, at best, AVZ could ultimately end up owning a 66% stake in the project. Whereas at worst, it could be left with a stake as small as 36%.

This has obvious implications to the company’s valuation, which is why AVZ shares aren’t trading.

What’s next?

As things stand, AVZ shares are scheduled to return to trade on Friday 1 July. However, that’s if the arbitration proceedings have been completed. If they drag on, so too will the suspension.

Based on what management has said, it seems unlikely that the matter will be resolved by then.

The Company has considered Jin Cheng’s claims in detail and considers them to be spurious in nature, without merit, containing fundamental and material errors, and having no substance or foundation in fact or law. The Company is continuing to take all necessary actions to resist these vexatious and meritless claims and to protect its and Dathcom’s interests.

After further consultation with the parties to the arbitration, the ICC will now decide whether the arbitral tribunal will be constituted by a single arbitrator (Jin Cheng’s preference) or 3 arbitrators (AVZI’s preference). This will take about 4 weeks.

The post Will AVZ Minerals shares finally return to trade this week? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares that have surged 300% in the past year
• AVZ share price suspension: What is the Manono Lithium Project they are fighting over?
• The AVZ share price suspension will continue until when?
• These were the worst performing ASX 200 shares in May
• 5 things to watch on the ASX 200 on Wednesday

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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Today marked a day of relief for those invested in S&P/ASX 200 Index (ASX: XJO) shares. The index took its multi-session gain to a new level on Monday, finishing the session 1.93% higher at 6,705.80 points.

Impressively, all 11 ASX 200 sectors closed in the green today.

The S&P/ASX 200 Financials Index (ASX: XFJ) made an afternoon dash to top the board, lifting 2.7% to do so.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) also outperformed, gaining 2.5%. That followed a strong Friday’s trade on Wall Street in which the tech-heavy Nasdaq Composite rose 3.34%.

ASX 200 energy shares also surged higher, likely on the back of higher oil prices. The S&P/ASX 200 Energy Index (ASX: XEJ) ended the day up 2.4%.

Finally, the S&P/ASX 200 Health Care Index (ASX: XHJ) came in as the market’s worst performing sector. Though, it still rose 1% today.

While the broader market was returning a notable gain on Monday, individual stocks were busy launching even higher. Let’s take a look at today’s top performers.

Top 10 ASX shares countdown today

It was a tough competition to take out the crown of today’s best performing ASX share. Of the top 200 ASX shares by market capitalisation, only 23 were in the red at the time of writing.

But the Core Lithium Ltd (ASX: CXO) share price managed to best the rest. The ASX 200 share gained 13% today as it and many of its lithium peers continued to recover from last week’s carnage. Find out more about Core Lithium here.

The next best performer was none other than fellow ASX lithium share, Liontown Resources Limited (ASX: LTR) – posting an 8.7% increase. Find out more about Liontown Resources here.

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

ASX-listed company	Share price	Price change
Core Lithium Ltd (ASX: CXO)	$1.03	12.57%
Liontown Resources Limited (ASX: LTR)	$1.07	9.74%
Flight Centre Travel Group Ltd (ASX: FLT)	$18.36	6.44%
Allkem Ltd (ASX: AKE)	$10.72	6.24%
Domain Holdings Australia Ltd (ASX: DHG)	$3.165	6.21%
ARB Corporation Limited (ASX: ARB)	$30.80	6.17%
Block Inc (ASX: SQ2)	$104.24	5.83%
Domino’s Pizza Enterprises Ltd (ASX: DMP)	$69.815	5.54%
Judo Capital Holdings Ltd (ASX: JDO)	$1.33	5.14%
Webjet Limited (ASX :WEB)	$5.55	5.11%

Data as at 3:55pm 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.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Liontown Resources share price rockets 9% amid broker’s positive lithium outlook
• What was the highest ever Xero share price?
• 16-month low: How ASX copper shares are faring this month
• Guess which sector is delivering the biggest gain across the ASX 200 today

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. and Judo Capital Holdings Limited. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended ARB Corporation Limited, Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, and Webjet Ltd. 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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