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On Monday, the S&P/ASX 200 Index (ASX: XJO) gave back the majority of its morning gains to finish the day a fraction higher. The benchmark index rose slightly to 7,485.2 points.

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

ASX 200 expected to fall

The Australian share market looks set to tumble following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.4% lower. On Wall Street, the Dow Jones fell 1.2%, the S&P 500 was down 1.7%, and the Nasdaq sank 2.2% higher.

Tech shares on watch

It could be a tough day for the tech sector after Wall Street’s Nasdaq index was sold off overnight. The tech focused index fell 2.2% amid concerns that a three-year high in the benchmark U.S. interest rate would start to slow the economy. This may not bode well for ASX 200 tech shares such as Altium Limited (ASX: ALU) and Xero Limited (ASX: XRO) today. In other tech news, the Bitcoin price sank 8%.

Oil prices sink

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor day after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.5% to US$94.78 a barrel and the Brent crude oil price has fallen 3.7% to US$98.94 a barrel. This was driven by fears that China’s COVID lockdowns could hit demand.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.65% to US$1,957.80 an ounce. Demand for safe haven assets increased due to market volatility.

Mineral Resources shares upgraded to buy rating

The Mineral Resources Limited (ASX: MIN) share price could be great value according to analysts at Goldman Sachs. This morning the broker upgraded the mining and mining services company’s shares to a buy rating and lifted its price target by 42% to $70.80. Goldman notes that its upgrade was underpinned by “6 major changes to our MIN volume/growth assumptions (in addition to upgrades to both our lithium and iron ore price forecasts).”

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

More reading

• How did ASX lithium shares perform today?
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Here are the best and worst performing ASX sectors of the quarter
• Why is the Macquarie share price underperforming today?

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 Altium and Xero. The Motley Fool Australia owns and has recommended Xero. 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 Whitehaven Coal Ltd (ASX: WHC) share price has rocketed 72% in the year to date, but could it surge even more?

The company’s shares finished flat on Monday at $4.49 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) edged just 0.1% higher today.

Let’s check the outlook for Whitehaven Coal.

Price target lift

The Whitehaven share price may be on fire this year, but the team at Morgans believes it can go even higher.

Whitehaven operates coal mines in New South Wales and Queensland.

Analysts at Morgans have lifted their price target on the company’s shares to $5.20. This is 15.8% more than today’s closing price. The broker has pushed the company’s earnings estimates higher due to rising thermal coal price predictions. Morgans expects this could lead to big dividends in the short term.

Further, the broker believes the company’s share price could climb even higher to $6.53, according to a report in the Australian Financial Review. This is 45% more than today’s closing price. Morgans analyst Tom Sartor reportedly said:

We sense recent energy market dynamics has awakened a wider investor set to the importance of thermal coal.

The coal price has exploded 213.21% in a year, Trading Economics data reveals. Meanwhile, the European ban on Russian coal could tighten global coal markets further, creating a domino effect, oilprice.com reported.

Share price snapshot

The Whitehaven share price has soared 148% in the past year while it has gained nearly 14% in a month.

For perspective, the S&P/ASX 200 Index has returned 7% in the past year.

Whitehaven has a market capitalisation of $4.56 billion based on its current share price

The post Whitehaven share price could surge 45% if coal price remains strong: broker appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
• 3 ASX 200 shares starting the week with new 52-week highs
• Why ASX coal shares are charging higher again today
• Black gold! Here’s how well ASX energy shares performed over the March quarter
• In a sea of red, these ASX 200 coal shares are floating above water. Here’s why

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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If you’re looking to add some quality shares to your investment portfolio, then you might want to look at the ASX 200 shares listed below.

Here’s why analysts are tipping these ASX 200 shares as ones to buy right now:

TechnologyOne Ltd (ASX: TNE)

The first ASX 200 share that could be in the buy zone right now is TechnologyOne. It is an enterprise software company servicing the government, financial services, health & community services, education, utilities and managed services markets.

Bell Potter is very positive on TechnologyOne. This is largely due to the company’s ongoing shift to becoming a SaaS-focused business. The broker expects this to underpin greater recurring revenues and stronger margins, which in turn could support a rerating of its shares. Bell Potter’s analysts currently have a buy rating and $14.00 price target on its shares.

The broker commented: “The key competitive advantage of the company is it has developed a fully integrated SaaS solution of its software and is now switching customers to this solution. The migration is now >50% complete and Technology One is starting to reap the benefits of greater recurring revenue and a higher margin. This combination will in our view drive double digit earnings growth for years to come and, as the migration of customers approaches 100%, we expect the multiple to re-rate to that of a pure SaaS company.”

Wesfarmers Ltd (ASX: WES)

Another ASX 200 share that could be a buy is Wesfarmers. It is the conglomerate behind retailers such as Bunnings, Kmart, Officeworks, and Target, as well as a collection of chemicals and industrial businesses such as Covalent Lithium and Coregas.

Morgans is a fan of the company and believes it is well-placed for growth over the long term. This is thanks to the strength of its portfolio and its highly-regarded management team. The broker has an add rating and $58.50 price target on its shares.

It said: “WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the recent pullback in the share price as a good entry point for longer term investors.”

The post Here are 2 excellent ASX 200 shares analysts rate as buys appeared first on The Motley Fool Australia.

More reading

• Can Wesfarmers shares deliver an attractive dividend yield AND 20% upside in 2022?
• The Wesfarmers share price tumbled 15% in the March quarter. What’s next?
• Brokers name 2 ASX 200 dividend shares to buy now
• Broker names 3 more of best ASX 200 shares to buy in April
• Coles share price falls amid reports Wesfarmers is selling down its stake: Time to buy?

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 owns and has recommended Wesfarmers 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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Many ASX lithium shares closed lower on Monday, but not every lithium company had a bad day.

The Lake Resources (ASX: LKE) share price surged 7% while the Core Lithium Ltd (ASX: CXO) share price finished flat. It was a better result than for Mineral Resources Limited (ASX: MIN) shares which closed 3.28% lower on Monday while Pilbara Minerals Ltd (ASX: PLS) slipped 3.75%.

Let’s take a look at what may have impacted ASX lithium shares today.

Lithium shares’ mixed performance

Other ASX lithium shares that lost ground today included Allkem Ltd (ASX: AKE), Liontown Resources Ltd (ASX: LTR), and Vulcan Energy Resources Ltd (ASX: VUL). Their share prices fell 0.23%, 2.6%, and 4.76% respectively.

Conversely, the Lake Resources share price surged as much as 16% to $2.16 this morning before retreating to $1.99. It came amid Lake’s news that it had signed a memorandum of understanding with automotive giant Ford Motor Company. Under the deal, Lake will supply Ford with 25,000 tonnes of lithium a year from Lake’s Kachi Project in Argentina.

Meanwhile, broker UBS shared its outlook on direct lithium extraction (DLE) technology following a call with International Battery Metals CEO Dr John Burba. In comments reported in the Australian Financial Review, UBS expressed caution on DLE technology:

Despite DLE showing promise for individual projects, we are wary how quickly supply can ramp up from a standing start.

Our current view on the lithium balance indicates the market will remain in deficit at least for the next few years with demand needing to be rationed in order for the market to balance.

Elon Musk weighs in

Also potentially weighing on lithium shares today were comments from Tesla founder Elon Musk on Saturday. In a tweet, Musk suggested Tesla may take up lithium mining. He said:

Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.

There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.

The lithium price has surged almost 79% since the start of 2022, Trading Economics states.

Meanwhile, Pilbara Minerals provided an update on its joint venture with Korean company Posco today. The companies will build a downstream lithium chemicals conversion plant in Korea.

Also today, Macquarie predicted the Mineral Resources share price could soar another 35%. The company placed an $83 price target on Mineral Resources shares with an outperform rating.

The post How did ASX lithium shares perform today? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why A2 Milk, Ionic Rare Earths, Pilbara Minerals, and Tyro shares are dropping
• Why IGO, Lake Resources, Regis Resources, and ResApp shares are charging higher
• Lake Resources share price shoots 16% higher on lithium deal with Ford

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 ASX’s All Ordinaries Index (ASX: XAO) had a pretty dreary day of trading to kick the week off. This Monday saw the All Ords close at 7,773.2 points, up a miserly 0.015% after giving up a strong initial gain this morning and spending some time in the red this afternoon. But that did nothing to dent the performance of the Zimplats Holdings Ltd (ASX: ZIM) share price.

Zimplats shares have closed at $33.93 today, up a healthy 9.91%. Not only that, but Zimplats also hit an intra-day high of $34.45 a share. That price happens to be a new all-time high for Zimplats. 

So why did this ASX resources share rocket to a new record high today? 

What’s pushing the Zimplats share price to record highs?

Well, we can’t be completely sure. There was nothing new out of the company itself today that might easily explain this move.

However, there has been some news in the resources space that might be getting investors hot under the collar.

According to a report in the Australian Financial Review (AFR) today, the global price of palladium has had some strong appreciation over the past few days. This comes as two Russian palladium refiners were suspended from the London market last week. 

Russia reportedly produces around 40% of the world’s freshly mined palladium. Palladium is a platinum-group precious metal that is predominantly used in catalytic converters for road vehicles. Its price has soared over 2022 thanks in most part to supply issues stemming from the war in Ukraine and global sanctions against Russia. 

So why is this relevant to Zimplats? Well, the company is a major producer of platinum-group metals through its Zimbabwe Platinum Mines subsidiary, including platinum itself as well as palladium. According to Bloomberg, palladium prices have risen from US$2,200 per ounce on 6 April to today’s pricing of US$2,512. 

So it’s perhaps no wonder that investors have sent Zimplas shares up so enthusiastically today.

At the last Zimplats share price, this ASX resources share had a market capitalisation of $3.32 billion.

The post Here’s why this ASX All Ordinaries mining share is leaping 8% to a new all-time high appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today
• 3 ASX All Ordinaries shares rocking new all-time highs today

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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Today, the S&P/ASX 200 Index (ASX: XJO) barely held onto a green finish after reversing from its early morning gains. At the end of the session, the benchmark index finished 0.1% higher at 7,485.2 points.

Investors favoured consumer staples and banks during this week’s first trading session. The day was headlined by several takeover bids, setting the market into motion upon the ringing of the morning bell. However, as US futures soured heading into lunch, so to did sentiment locally.

The biggest pinch across the benchmark index was felt in tech and consumer discretionary shares. Meanwhile, gold miners glistened amid gaining selling pressure throughout the afternoon.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Zimplats Holdings Ltd (ASX: ZIM) was the biggest gainer today. Shares in the platinum group metals miner received another 10.14% boost, adding to its 6.45% gain on Friday. Find out more about Zimplats Holdings here.

The next biggest gaining ASX share today was lithium developer, Lake Resources N.L. (ASX: LKE). The company pushed upwards today following news it had secured an offtake agreement with the Ford Motor Company (NYSE: F). Uncover the latest Lake Resources details here.

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

ASX-listed company	Share price	Price change
Zimplats Holdings Ltd (ASX: ZIM)	$34.00	10.14%
Lake Resources NL (ASX: LKE)	$1.99	6.99%
APM Human Services International Ltd (ASX: APM)	$3.36	5.99%
Perseus Mining Ltd (ASX: PRU)	$1.87	4.76%
Northern Star Resources Ltd (ASX: NST)	$10.67	3.90%
Iress Ltd (ASX: IRE)	$11.60	3.20%
Nufarm Ltd (ASX: NUF)	$6.60	3.13%
IGO Ltd (ASX: IGO)	$14.00	2.34%
Incitec Pivot Ltd (ASX: IPL)	$3.98	2.31%
Metcash Ltd (ASX: MTS)	$4.62	2.21%

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.

More reading

• Here’s why this ASX All Ordinaries mining share is leaping 8% to a new all-time high
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Here are the best and worst performing ASX sectors of the quarter
• Why is the Macquarie share price underperforming today?
• The Endeavour share price has notched up 4 all-time highs in a week. What’s happening?

Motley Fool contributor Mitchell Lawler 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 PointsBet Holdings Ltd (ASX: PBH) share price ended the day in the red despite an upbeat company update.

At today’s closing bell, the sports betting company’s shares finished 2.15% lower to $3.18.

This comes after the company announced an update in regards to its wholly-owned subsidiary, PointsBet Canada Operations 1 Inc (PointsBet).

PointsBet wins new multi-year partnership

Investors appear to be unfazed by the company’s latest positive announcement, sending PointsBet shares into negative territory.

In a statement to the ASX, PointsBet advised that its wholly-owned subsidiary, PointsBet Canada has entered into a new multi-year agreement with Maple Leaf Sports & Entertainment (MLSE).

As such, PointsBet will become an official sports betting partner of MLSE’s professional teams across 5 different sports. This includes the Toronto Maple Leafs (NHL), Toronto Marlies (AHL), Toronto Raptors (NBA), Toronto Argonauts (CFL), and Toronto FC (MLS).

Earlier this month, PointsBet Canada launched its proprietary iGaming and sportsbook operations in Ontario, Canada.

The company took its first online bet within 50 seconds of being on the state’s regulated market.

Management noted that its continued iGaming growth is based on ease of use, accessibility, and the number of in-play betting options.

PointsBet Canada CEO, Scott Vanderwel touched on the partnership news, saying:

You rarely get the opportunity to partner with an organization that spans across all four professional leagues through the Toronto Maple Leafs and Toronto Raptors, Toronto FC and the Toronto Argonauts, and offers year- round entertainment within the sports market in Canada.

We are thrilled to be partnering with MLSE on this innovative and exciting relationship.

In addition, senior vice president of Global Partnerships, MLSE, Jordan Vader added:

We happily welcome PointsBet Canada as a partner of the Maple Leafs, Raptors, TFC and Argos as they enter the Ontario market with a well-established reputation in the sports betting industry.

We look forward to utilizing our partnership to provide 19+ fans of our teams with new and different ways of interacting and engaging with the sports they love with a trusted operator in PointsBet that prioritizes responsible gaming.

PointsBet share price summary

Adding to today’s losses, the PointsBet share price has tumbled by more than 75% over the last 12 months.

These beatings have mostly come in 2022 following market concerns about the company’s valuation and high marketing costs. When looking at year to date, PointsBet shares are roughly down by 55%.

Based on valuation grounds, the company commands a market capitalisation of approximately $834.33 million.

The post PointsBet share price sinks despite positive news appeared first on The Motley Fool Australia.

More reading

• These were the worst performers on the ASX 200 last week
• Game on: Why the PointsBet (ASX:PBH) share price is zipping higher today
• These were the worst performing ASX 200 shares during the first quarter
• ‘Compelling valuation’: Broker tips PointsBet (ASX:PBH) share price to rise 80%

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. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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 QBE Insurance Group (ASX: QBE) share price has soared 21% in a year, but could it do even better?

QBE shares finished at $11.84 on Tuesday, a 1.81% gain. In comparison, the S&P/ASX 200 Index (ASX: XJO) climbed just 0.1%.

Let’s check the outlook for the QBE share price.

Significant upside

The QBE share price plummeted 20% between market close on 17 February and 7 March. However, since this date, the company’s share price has rocketed by more than 17%.

And the team at Morgans has recently recommended QBE as an “add”, placing a $13.50 price target on the share. That’s 14% more than the current share price.

Morgans is positive on the company’s price-to-earnings (P/E) ratio. Commenting on the outlook for QBE, Morgans said:

With strong rate increases still flowing through QBE’s insurance book and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years.

The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~14x FY22F PE.

QBE reported an adjusted net profit after tax (NPAT) of $805 million in its FY21 results, released in February. This represented a return on equity of 10.3%. The board declared a final dividend of 19 cents a share.

QBE shares suffered in late February and early March amid the widespread floods in Queensland and New South Wales. The insurer said at the time it was working hard to support customers impacted by the severe weather and floodwaters.

QBE share price snapshot

QBE shares have climbed 4% year to date, but have surged more than 11% in the past month.

For perspective, S&P/ASX 200 Index (ASX: XJO) has returned around 7% in the past 52 weeks.

In the last week, QBE shares are 2% higher.

QBE has a market capitalisation of more than $17.5 billion based on the current share price.

The post Top broker tips 14% upside for QBE share price appeared first on The Motley Fool Australia.

More reading

• The QBE share price has gained 16% in a month. Is it still a ‘relatively inexpensive’ ASX 200 share?
• Broker names 3 of the best ASX 200 shares to buy in April
• Broker names 2 ASX 200 shares to buy with almost 20% upside
• Lucky 13? The QBE Insurance share price is now up 13% in 2 weeks
• Why ‘now is the time’ to buy QBE (ASX:QBE) shares: fundie

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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ASX mining shares were the market leaders last quarter with several names taking out top spots in the race for shareholder returns.

The S&P/ASX 300 Metals & Mining Index (ASX: XMM) started at 5,539 and lunged to 6,352. As such, it earned a net change of 813 points or 14.7% for the quarter.

It has pared gains but still remains aloft the benchmark S&P/ASX 200 Index (ASX: XJO), shown below.

Top performing ASX mining shares

It was a constructive period for the ASX mining sector in more ways than one. There were 36 names that came out strong, whereas 18 were down, according to Bloomberg data. One name remained unchanged.

There were also eight new additions to the index, whereas two names were removed.

During the quarter Rio Tinto Limited (ASX: RIO) was one top performer of the ASX mining shares basket with a 25.94% change for the quarter.

A number of catalysts, stemming from roaring commodity markets and extending to company-specific updates, saw the Rio Tinto share price jump north for the period.

On a similar note, mining giant BHP Group Ltd (ASX: BHP)’s share price jumped up by 30.31%, whilst Sims Ltd (ASX: SGM) climbed by 37.76%.

However, it was Coronado Global Resources Inc (ASX: CRN) that came out on top, with a 72.53% gain for the quarter, followed by Champion Iron Ltd (ASX: CIA) which grew circa 46%.

The results of the top 10 gainers in the ASX metals and mining shares index from last quarter are tabled below.

Ticker	Name	Quartely gain (%)
CRN	Coronado Global Resources Inc	72.53
CIA	Champion Iron Ltd	45.90
SGM	Sims Ltd	37.76
AVZ	AVZ Minerals Ltd	34.97
BHP	BHP Group Ltd	30.31
PLL	Piedmont Lithium Inc	29.25
LKE	Lake Resources NL	28.71
S32	South32 Ltd	28.28
RIO	Rio Tinto Ltd	25.94

The post ASX mining shares were the leaders last quarter. Here are the top performers appeared first on The Motley Fool Australia.

More reading

• The best ASX All Ordinaries shares of the March quarter unmasked
• The Rio Tinto share price rallied 19% in the March quarter. What’s next?
• 2 ASX 200 dividend shares analysts rate as buys
• BHP and Woodside one step closer in creating $40 billion energy giant
• What drove the Rio Tinto share price higher on Friday?

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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Like most every global index, the All Ordinaries Index (ASX: XAO) struggled during the March quarter, with ASX All Ordinaries shares finishing the three months up a slim 0.1%.

That came after a very strong 2021, which saw the All Ords gain 14% over the year.

While some companies enjoyed a very good quarter (click here to see the best ASX performers), others struggled amid the spectre of rising interest rates and geopolitical uncertainty, atop their own company specific woes.

Below we look at the three worst ASX All Ordinaries shares to have held during the March quarter.

You’ll note it was a very tight race to the bottom.

The third worst ASX All Ordinaries performer of the quarter

Coming in at number three is Zip Co Ltd (ASX: Z1P), which finished the March quarter down 66%.

The ASX All Ordinaries share operates in the buy now, pay later (BNPL) space. It was a market darling during the 11 months following the post pandemic fire sale lows, gaining 872% from 20 March 2020 through to 19 February 2021.

Unfortunately for Zip shareholders, it’s been largely downhill since. With the losses from the March quarter and the past week factored in, the Zip share price is now only 11% above the 20 March 2020 low.

The All Ordinaries share has come under pressure alongside others in the BNPL space as fast rising inflation figures point to some significant interest rate hikes ahead. High rates may be good news for the banks, but they appear to be a significant headwind for BNPL shares.

Zip’s shares continued to decline in March following a capital raising carried out to acquire fellow ASX BNPL share, Sezzle Inc (ASX: SZL).

The second worst performer during the quarter

The second worst ASX All Ordinaries share to have held during the quarter just past is Laybuy Group Holdings Ltd (ASX: LBY) 67%.

Laybuy’s BNPL payment platform allows customers to split paying for their purchases across six, weekly, interest free instalments.

But as with Zip and other BNPL shares, Laybuy doesn’t make a profit, it doesn’t pay any dividends, and with interest rates across the globe set to rise, its business model will face additional headwinds.

Zip shares hit all-time highs of $12.25 on 19 February 2021. Since then, the ASX All Ordinaries share is down 89%.

And that brings us to…

The worst ASX All Ordinaries share to have held during the March quarter

While it was a tight race, Cettire Ltd (ASX: CTT) takes the inglorious honour, with shares down 68% over the three months.

The online luxury goods retailer was a beneficiary of COVID lockdowns, which drove a surge in online retail purchases across the board.

Luxury goods are also more prone to catch the headwinds of rising interest rates. This saw the ASX All Ordinaries share come under increasing pressure over the quarter, as investors mull a world where rates no longer hover near zero.

The Cettire share price dropped again sharply on 23 March on news that the company’s founder, Dean Mintz was selling 35 million shares.

Cettire was trading at a record closing high of $4.75 per share on 16 November last year. Since then, the ASX All Ordinaries share has lost a painful 79%.

The post These were the worst 3 ASX All Ordinaries shares to hold during the March quarter appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• 16 million new Zip shares just hit the ASX. Here’s the deal
• 16 million new Zip shares will hit the ASX on Monday. What does this mean?
• Opportunity knocking? 3 ASX All Ords shares trading at 52-week lows today
• March was a lousy month for ASX BNPL shares. Here’s why

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cettire Limited and ZIPCOLTD FPO. The Motley Fool Australia has recommended Cettire 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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