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The Allkem Ltd (ASX: AKE) share price is taking off on Wednesday despite no news being released by the company ­– yet.

The lithium chemicals company is set to release its quarterly report tomorrow. The market might be boosting Allkem’s value higher today in anticipation.

At the time of writing, the Allkem share price is $13.22, 3.52% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.36% while the S&P/ASX 200 Materials Index (ASX: XMJ) has jumped 0.75%.

Let’s take a closer look at how Allkem and its peers are performing on Wednesday.

What’s going on with the Allkem share price today?

The Allkem share price is in the green today, but it’s not the best-performing lithium stock in the ASX 200 materials sector.

That title goes to the AVZ Minerals Ltd (ASX: AVZ) share price. Right now, it has gained 9.22% on news of its Manono Lithium and Tin Project.

Allkem shares are also being outperformed by those of Mineral Resources Limited (ASX: MIN) and Liontown Resources Limited (ASX: LTR). They’ve gained 4.3% and 3.9% respectively.

Though, Allkem isn’t without its fans.

As The Motley Fool’s Zach Bristow reported earlier this week, brokers are bullish on the stock’s future.

JP Morgan has an $18.50 price target on the stock ­– assuming the Allkem share price has a 40% upside.

Bell Potter is also optimistic about the company. It’s slapped Allkem with an $18.05 price target.

The post Why is the Allkem share price having such a stellar day? appeared first on The Motley Fool Australia.

More reading

• 3 highly rated ASX growth shares analysts are tipping as buys
• Here’s why Allkem shares are getting multiple broker upgrades
• Top brokers name 3 ASX shares to buy next week
• Here’s why the lithium price is in the spotlight today
• Why not all ASX lithium shares are winners from surging commodity prices

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The post Here are the 3 most heavily traded ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

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• Why is the A2 Milk share price outperforming today?
• Why AVZ, EML, Iluka, and Webjet shares are charging higher
• Why have ASX uranium shares bolted out of the gate today?
• ASX 200 midday update: AVZ and EML shares jump
• Top broker warns this ASX 200 share may be next to issue a profit warning

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 Bruce Jackson.

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With the federal election looming around the corner, ASX shares are again in the limelight. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is up 0.36%.

The stock market has shrugged off a number of pressures already this year, so how might an election feed into the mix?

Different government means different policy

According to analysts at UBS, if there is a change of government, that could spell a slightly different outcome for investors in 2022 and beyond.

“Leading into the last election there were material policy differences proposed by the main opposition Labor Party, especially for housing and taxation,” UBS analysts said, cited by The Australian.

“These included: negative gearing, capital gains tax, franking credits, trusts, income tax, penalty rates, and a ‘living wage’ which could have seen the minimum wage rise by around 10 per cent,” they added.

“This time, policy differences between the government and Labor are narrower; and the economic and market implications are not expected to be as material.”

In the past, UBS said the stock market hadn’t really been impacted by a change of government, although, when checking the data, consumer discretionary shares tended to get a boost when the cabinet rolled over.

Instead of a material threat to ASX shares directly, UBS says the major undertone set to impact the stock market is rising interest rates. That’s set to impact the real economy, instead.

“Even for the longest possible duration mortgage of 30 years (which mutes the impact), an increase in mortgage rates, from 2%–4%, raises required repayments by around 29%; and a lift in rates to 4.5% (ie, a 250 basis point increase reflecting the shift from fixed to variable, plus an assumed 200 basis point rise in variable rates) increases repayments by around 37%,” UBS analysts said.

One other factor hitting the election polls this year is the cost of living and inflation. Whoever is in government after the nation votes, is set to “take a lot of heat”, according to Brendan Coates of the Grattan Institute.

“There’s a lot of frustration that wages have not risen in a meaningful way over the past decade,” Coates said, cited by Bloomberg.

“There are big concerns about cost of living right now.”

The post How might ASX shares respond if we have a change of government? appeared first on The Motley Fool Australia.

More reading

• Why is the A2 Milk share price outperforming today?
• ASX 200 midday update: AVZ and EML shares jump
• Top broker warns this ASX 200 share may be next to issue a profit warning
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 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 Bruce Jackson.

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The Core Lithium Ltd (ASX: CXO) share price is up 10.7% at the time of writing.

Shares closed yesterday at $1.22 and are currently trading for $1.35.

That puts the Core Lithium shares up a whopping 427% over 12 months. And just this calendar year, shares in the ASX lithium explorer have surged 128%.

For some context, the All Ordinaries Index (ASX: XAO) has lost around 1% year to date.

So, what’s going on?

Batteries, batteries, batteries…

It all comes down to, well, batteries.

Lithium is a key element in modern batteries, prized for its light weight and high conductivity.

With electric vehicle (EV) production growing rapidly across the world, demand for lithium has outpaced new supplies.

“Global electric sales have doubled in the last year, led by China and Europe, and this is forecasted to accelerate with tighter government emission standards, new model introductions, longer ranges, and better charging infrastructure,” eToro global markets strategist Ben Laidler said.

With EV batteries accounting for roughly 70% of global lithium demand, this has seen average lithium prices rocket more than 480% over the past 12 months. And that’s obviously helped drive interest in ASX lithium shares, boosting the Core Lithium share price along the way.

What else is boosting the Core Lithium share price?

Core Lithium received a big lift in early March when it reported on an agreement to supply lithium spodumene concentrate to Elon Musk’s Tesla Inc (NASDAQ: TSLA). The agreement will see the company supply 110,000 tonnes of the concentrate over four years.

The Core Lithium share price gained 14% on the day of the announcement.

The post Up 427% in a year, Core Lithium share price surges 11% again today appeared first on The Motley Fool Australia.

More reading

• Core Lithium share price clips gains today but remains up 110% for the year
• Here’s why the Core Lithium share price is in the green on Monday
• These were the best performing ASX lithium stocks in March
• The Core Lithium share price is tumbling again. What’s going on?
• Why is the Core Lithium share price sinking 7% today?

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

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The Perpetual Limited (ASX: PPT) share price has been suffering this week, with its struggles culminating in a new 52-week low on Wednesday.

In news that has likely aggravated the stock’s poor performance, its takeover bid for Pendal Group Ltd (ASX: PDL) was rejected yesterday.

At the time of writing, the Perpetual share price is $31.37, 2.43% lower than its previous closing price.

Though, that’s an improvement on its earlier performance. At its intraday low – and new 52-week low ­­– Perpetual’s shares were trading for $31.25, representing a 2.8% slip.

For context, the S&P/ASX 200 Index (ASX: XJO) is in the green on Wednesday. It’s currently up 0.31%.

Let’s take a closer look at what might be weighing on Perpetual shares today.

What’s dragging the Perpetual share price lower?

The Perpetual share price is slumping to a new 52-week low just one day after its takeover bid for Pendal was rejected.

The offer put to Pendal earlier this month was 1 Perpetual share for every 7.5 Pendal shares held, valuing Pendal’s stock at around $6.23 apiece at the time of the bid.

However, the takeover target rejected the bid on Tuesday, saying it undervalued the company.

Interestingly, the Perpetual share price wasn’t phased by the rejection yesterday. Perpetual shares slumped just 0.4% on Tuesday, in line with the ASX 200’s dip of a similar amount.

Perpetual is also in the headlines today. The Australian Financial Review is reporting Perpetual’s head of Australian equities, Paul Skamvougeras, is going head-to-head with Brambles Limited (ASX: BXB) chair John Mullen.

Skamvougeras is reportedly against Brambles’ efforts to create plastic pallets for Costco. The publication states Perpetual holds a $350 million stake in Brambles.

Today’s drop included the Perpetual share price is 15% lower than it was at the start of 2022. It has also slumped 8% since this time last year.

The post Here’s why the Perpetual share price just slumped to a new 52-week low appeared first on The Motley Fool Australia.

More reading

• Why Adbri, Eroad, Lynas, and Perpetual shares are tumbling
• ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade
• Pendal share price falls amid Perpetual takeover rejection: What now?
• These were the best performers on the ASX 200 last week
• Pendal (ASX:PDL) share price in the spotlight as analysts tip higher takeover bid

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

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The Scorpion Minerals Ltd (ASX: SCN) share price is soaring today on the back of a $3 million equity raise.

This company’s shares have surged 23.88% today and are currently trading at 8.3 cents. In earlier trade, the share price hit 10 cents before pulling back. This was 49% more than the previous closing price of 6.7 cents.

Let’s take a look at why this ASX miner is having a good day on the market.

What did this ASX miner announce?

Scorpion has raised millions to explore lithium and base metals in Western Australia.

The company placed 62,325,000 shares on the market, raising a total of $3.18 million. Shares were offered at 5.1 cents, a 23.9% discount on the last closing price of 6.7 cents.

This ASX miner will use the funds to explore the Pharas Project in Western Australia.

The project, 60km northwest of Cue, contains multiple lithium, gold, copper, and PGE-Ni-Cu prospects.

Scorpion has already chosen several targets for drilling and testing.

Commenting on the news, executive chairman Bronwyn Barnes said:

We are very pleased to have received such strong support for this placement and I would like to welcome new shareholders to the register and thank our existing shareholders for their support.

Barnes has transitioned to the role of executive chairman and will lead the company’s corporate activities.

The company has also formed an agreement with independent technical consulting group Obsidian Metals Group Pty Ltd (OMG) for technical services. Lithium expert Michael Fotios is a lead consultant to OMG.

Share price snapshot

The Scorpion Minerals share price has risen 67% in the past 12 months and is up 11% year to date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned about 7% in the past year.

In the past month, the company’s shares have risen 26%, gaining 22% in the past week alone.

This ASX miner has a market capitalisation of about $22 million.

The post This ASX miner just raised $3m for new lithium projects, and its shares are soaring 24% appeared first on The Motley Fool Australia.

More reading

• St Barbara share price lifts on acquisition news
• Why Adbri, Eroad, Lynas, and Perpetual shares are tumbling
• Why is the A2 Milk share price outperforming today?
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The St Barbara Ltd (ASX: SBM) share price is hovering in positive territory on Wednesday.

This comes after the company announced it has finalised an important acquisition, unlocking access to land packages near its Leonora operations in Western Australia.

At the time of writing, the gold miner’s shares are exchanging hands for $1.47, after reaching an intraday high of $1.50 early this afternoon.

What’s driving St Barbara shares higher?

Investors are buying up St Barbara shares following the completed acquisition of Australian gold company, Bardoc Gold Ltd (ASX: BDC).

In today’s release, St Barbara advised that implementation has occurred under the scheme of arrangement. This means that Bardoc shareholders will receive 0.3604 new St Barbara shares for each Bardoc share owned.

The transaction values Bardoc at approximately $157 million and each Bardoc share at 53 cents.

The new St Barbara shares issued under the scheme will start trading on the ASX from tomorrow.

What did management say?

Commenting on the news, St Barbara managing director and CEO Craig Jetson said:

The completion of this major milestone has allowed us to lock in the acceleration of the Leonora Province Plan.

The acquisition gives St Barbara access to the advanced Aphrodite and Zoroastrian underground deposits. Due to their proximity to road and rail infrastructure that connect them to Leonora, the deposits are expected to become additional ore sources to support the filling of the mill and the expansion to 2.1mpta.

The acquisition also included Bardoc’s land package, which Jetson said contributed to St Barbara’s “leading position in the Leonora province” and provided “a strong platform for the company to deliver further organic growth for years to come”.

About the St Barbara share price

St Barbara shares have plummeted by 30% over the past 12 months, with the year to date figure up marginally by 1%.

The company’s share price reached a 52-week high of $2.16 in early 2021 before treading on a downward path.

St Barbara commands a market capitalisation of roughly $1.04 billion based on today’s price.

The post St Barbara share price lifts on acquisition news appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is defying weakness on Wall Street and is pushing higher. At the time of writing, the benchmark index is up 0.4% to 7,482 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling:

Adbri Ltd (ASX: ABC)

The Adbri share price is down 5.5% to $2.85. Investors have been selling this building products company’s shares in response to a broker note out of Morgan Stanley. According to the note, the broker has downgraded the company’s shares to an equal-weight rating with a lowered price target of $3.40.

Eroad Ltd (ASX: ERD)

The Eroad share price is down 5.5% to $2.76. This morning the transport technology company released its fourth quarter operational update. That update revealed modest 2.6% growth in contracted units to 208,697 units. Some investors may have been expecting stronger growth from Eroad.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 2% to $9.49. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has initiated coverage on the rare earths producer’s shares with a neutral rating and $9.50 price target on its shares. Goldman believes Lynas’ shares are “fully valued” at the current level. For this reason, its analysts believe Iluka Resources Limited (ASX: ILU) would be the better option for investors seeking rare earths exposure.

Perpetual Limited (ASX: PPT)

The Perpetual share price is down 2.5% to $31.38. This fund manager’s shares have come under pressure this week in response to news that Pendal Group Ltd (ASX: PDL) has rejected its takeover approach. The Perpetual share price dropped to a two-year low at one stage on Wednesday morning.

The post Why Adbri, Eroad, Lynas, and Perpetual shares are tumbling appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: AVZ and EML shares jump
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended EROAD Limited. The Motley Fool Australia owns and has recommended EROAD Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is having a decent, if uninspiring, day of trading so far this Wednesday. At the time of writing, the ASX 200 is up by 0.34% at just over 7,479 points. But one ASX 200 share is doing far better. That would be the A2 Milk Company Ltd (ASX: A2M) share price.

A2 Milk shares are currently trading at $4.62, up a solid 0.65% so far. But earlier in today’s trading session, we saw the company hit a high of $4.71. That represented a pleasing gain of 2.61% at the time.

So why are A2 Milk shares outperforming today? After all, it’s certainly a nice change for investors after the company lost almost 12% over the past month alone.

Well, we can’t be sure. There’s been no news out of the company itself today. However, there have been some media reports of a potentially positive development for A2 Milk.

A2 Milk share price rises amid US baby formula shortage

According to a report in The Guardian this week, the United States is currently enduring a “nationwide shortage” of infant milk formula. A recent and massive recall of the Similac, Alimentum and EleCare baby formula products, owned by Abbott Laboratories, is reportedly partially responsible for the shortage. The recall was in response to a number of cases of Cronobacter bacterial infections.

As a result, “stores across the US have started to ration baby formula while some others are reporting increasing shortages”. The hardest hit US states include Minnesota, Connecticut, Texas, Louisiana and Hawaii.

Shortages of a key product that A2 Milk manufactures potentially bodes well for the company. This might explain why investors have been buying A2 shares over the course of today’s trading. That’s despite A2 Milk’s infant formula products having almost no presence in US markets, going off its latest earnings report.

At the current A2 Milk share price, this ASX 200 dairy share has a market capitalisation of $3.41 billion.

The post Why is the A2 Milk share price outperforming today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: AVZ and EML shares jump
• Top broker warns this ASX 200 share may be next to issue a profit warning
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today
• What was the highest ever AGL Energy share price?

Motley Fool contributor Sebastian Bowen owns A2 Milk. 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 Bruce Jackson.

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The Sayona Mining Ltd (ASX: SYA) share price is launching higher on Wednesday despite the company’s silence.

In fact, the market hasn’t heard price-sensitive news from the emerging lithium producer for over a week.

At the time of writing, the Sayona share price is 33.25 cents, 9.02% higher than its previous close.

For context, the broader market is also in the green today, though, not to the same extent.

Right now, the All Ordinaries Index (ASX: XAO) is up 0.38% while the S&P/ASX 200 Index (ASX: XJO) has gained 0.24%.

Let’s take a look at what’s going on with Sayona and its peers lately.

What’s going on with the Sayona share price today?

The Sayona share price is in the green on Wednesday, as are many other ASX materials shares.

In fact, the S&P/ASX 200 Materials Index (ASX: XMJ) is outperforming the broader market, gaining 0.61% at the time of writing.

And while Sayona doesn’t call the index home, many of its lithium peers are leading the charge today.

The share price of AVZ Minerals Ltd (ASX: AVZ) is the index’s best performer, having gained 6.3% on news of the company’s Manono Lithium and Tin Project.

Meanwhile, shares in Liontown Resources Limited (ASX: LTR), Mineral Resources Limited (ASX: MIN), and Allkem Ltd (ASX: AKE) are also in the green. They’re the sector’s third, fourth, and fifth best performers on Wednesday.

The last time the market heard news from Sayona was on 4 April.

Then, it announced that testing of spodumene from its Authier Lithium Project proved the material can be used to create battery-quality lithium hydroxide.

The Sayona share price launched 32% on the back of the announcement.

Today’s gains included, Sayona’s stock is trading for 135% more than it was at the start of 2022.

The post Why is the Sayona share price leaping 9% on Wednesday? appeared first on The Motley Fool Australia.

More reading

• How is the Sayona share price still soaring, even on a down day for the ASX?
• Why A2 Milk, IGO, Lynas, and Sayona shares are dropping
• Why is the Sayona (ASX:SYA) share price tumbling 9% today?
• Why is the Novonix (ASX:NVX) share price charging 6% higher?
• Why Allkem, Iluka, Pendal, and Sayona Mining shares are charging 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 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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