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If you’re looking for an easy way to invest your hard-earned money, then exchange traded funds (ETFs) could be worth considering.

This is because rather than deciding on which individual shares to put your money into, ETFs let you invest in a large group of shares through just a single investment.

With that in mind, here are three ETFs that are popular with investors right now:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF for investors to look at is the BetaShares Asia Technology Tigers ETF. This ETF tracks the performance of an index comprising around 50 of the largest technology shares in Asia (excluding Japan). BetaShares notes that the sector is expected to remain a growth sector for some time to come thanks to the region’s younger and more tech savvy population. Among the ETF’s holdings are Alibaba, Baidu, JD.com, Pinduoduo, Samsung, Taiwan Semiconductor, and Tencent. Regulatory concerns have been weighing heavily on these shares and therefore the ETF this year. While this is disappointing, it could have created a very attractive opening for long term investors.

BetaShares Crypto Innovators ETF (ASX: CRYP)

Another ETF for investors to look at is the BetaShares Crypto Innovators ETF. BetaShares highlights that this ETF provides “picks and shovels” exposure to the crypto market with investments in companies building crypto mining equipment, crypto trading venues, and other key services. At present, the ETF is invested in around 40 crypto focused companies including Coinbase, Riot Blockchain, and Microstrategy. In addition, the ETF owns shares with indirect exposure such as Block/Square, PayPal, and Robinhood.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A final ETF for ASX investors to look at is the VanEck Vectors Video Gaming and eSports ETF. The fund manager, VanEck, notes that this ETF gives investors exposure to the biggest players in a global video game market benefitting from an estimated 2.7 billion active gamers globally. Among the companies included in the fund are AMD, Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two. VanEck believes these companies are well-placed for growth thanks to the increasing popularity of video games and eSports.

The post 3 very exciting ETFs for ASX investors this month appeared first on The Motley Fool Australia.

More reading

• Crypto and cybersecurity: 2 exciting ETFs for ASX investors
• Are these 2 ASX tech shares great buys in April 2022?
• Here are 2 top ETFs for ASX investors next week
• 3 top ASX ETFs for growth investors
• Have you seen these exciting ETFs that are listed on the ASX?

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 Betashares Crypto Innovators ETF. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF and VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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 for ASX dividend shares to buy, then the ones listed below could be worth considering.

Here’s what you need to know about these dividend shares:

Rio Tinto Limited (ASX: RIO)

The first dividend share to consider is Rio Tinto. This mining giant is being tipped to reward shareholders with huge dividends in the coming years thanks to strong commodity prices and its return to production growth.

Goldman Sachs, for example, is very positive on Rio Tinto and has a buy rating and $131.50 price target on its shares.

The broker likes the miner due to its attractive valuation and strong free cash flow. Goldman also notes that the miner has compelling low emission aluminium exposure through its ELYSIS inert anode technology, which it believes could be worth billions.

As for dividends, Goldman expects fully franked dividends of around US$9.00 per share in FY 2022 and FY 2023. Based on the current Rio Tinto share price of $120.34 and current exchange rates, this will mean yields of approximately 10%.

Wesfarmers Ltd (ASX: WES)

Another ASX dividend share to consider is one of Australia’s leading conglomerates, Wesfarmers.

It is the company behind brands such as Kmart, Officeworks, Priceline, Catch, Bunnings, and a wide range of industrial businesses.

Combined, the team at Morgans believe the company is well-placed for growth over the long term. In light of this, it recently put an add rating and $58.50 price target on its shares.

In respect to dividends, Morgans is forecasting fully franked dividends per share of $1.62 in FY 2022 and $1.81 in FY 2023. Based on the current Wesfarmers share price of $49.59, this will mean yields of 3.3% and 3.6%, respectively.

Morgans commented: “WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart, Target and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While Covid-related staff shortages are proving to be 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 2 ASX 200 dividend shares brokers rate as buys appeared first on The Motley Fool Australia.

More reading

• What happened to the Wesfarmers share price in March?
• Here’s how top brokers think the Rio Tinto share price will perform in April
• The ASX 200 just had its longest winning streak since 2017. What’s doing?
• Are these ASX 200 mining shares in trouble?
• What’s the outlook for the Wesfarmers share price in April?

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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The Insurance Australia Group Ltd (ASX: IAG) share price struggled through March.

Its suffering came as major floods wreaked havoc in parts of Australia and news of a second business interruption test case hit the market.

At the end of last month, the IAG share price was $4.38. That’s 4.78% lower than where it ended February.

Over the same period, the S&P/ASX 200 Index (ASX: XJO) gained 6.39%, leaving the IAG underperforming by 11.17% for the month.

So, what weighed on the insurance giant’s stock in March? Let’s take a look.

Why did the IAG share price struggle through March?

March started out rough for many Australians, with major floods hitting parts of southeast Queensland and northern New South Wales.

Understandably, this likely led some market watchers to wonder if the cost to repair damages would dint the insurer’s bottom line.

IAG was quick to mitigate concerns, releasing a statement on 1 March saying it was too early to understand the true cost of the disaster. However, it estimated it could be as high as $95 million.

The insurer followed up on that statement the following week.

Then, it announced that as of 6am on 9 March, it had received 24,000 claims related to the weather event. It was estimated to lead to a $74 million damage bill – less than what was previously predicted.

Though, due to the storms and flooding, IAG increased its financial year 2022 net natural perils claims cost from $1.045 billion to approximately $1.1 billion.

Interestingly, despite falling in intraday trade on 1 March and 9 March, the IAG share price ended both sessions flat with its previous close.

An update on the second business interruption test case also weighed on the insurer’s stock last month.

The company noted that, while it wasn’t adjusting its $1,222 million net provision for business interruption claims, some indications made it believe a release from the provision will occur and will likely be recognised over time.

The IAG share price slumped 1.3% the day the update was released.

What else happened last month?

The company also made headlines last month with reports claiming it’s being taken to Federal Court to face around $300 million of claims.

The legal action was reportedly spurred by the company’s now-sold 50% stake in Bond and Credit Co.

Bond and Credit Co is an insurer. It’s said to have sold credit policies to cover entities related to the now-defunct Greensill Capital.

Previously, IAG stated it had no exposure to the credit policies. Commenting on the matter last month, an IAG spokesperson said the company’s stance hadn’t changed and it was anticipating litigation.

It’s unlikely the reports budged the IAG share price. Though, they might have shaken some market watchers’ confidence in the company.

IAG share price snapshot

The IAG share price underperformed the ASX last month. However, it’s been ultimately trading in line with the index in 2022.

As of the end of March, the IAG share price was 1.79% lower than its previous close. At that same point, the ASX 200 had slipped 1.19% year to date.

Right now, shares in IAG are trading for 8.8% less than they were last year. Meanwhile, the ASX 200 has gained 9.9% over the last 12 months.

The post Why did the IAG share price underperform the ASX 200 by 11% in March? appeared first on The Motley Fool Australia.

More reading

• Owns IAG (ASX:IAG) shares? Here’s your outlook for April
• Have IAG shares been a good investment? Here’s what $10,000 invested 4 years ago looks like now
• What’s driving the IAG (ASX:IAG) share price lower on Wednesday?
• ASX 200 (ASX:XJO) midday update: Block and Zip jump, Fisher & Paykel Healthcare sinks
• Why is this broker ‘cautiously bullish’ on IAG (ASX:IAG) shares?

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 owns and has recommended Insurance Australia Group 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) was on form again and recorded its third consecutive weekly gain. Over the period, the benchmark index rose 1.2% to end it at 7,493.8 points.

Unfortunately, not all shares were able to follow the market’s lead. Here’s why these were the worst performers on the ASX 200 last week:

Ramelius Resources Limited (ASX: RMS)

The Ramelius share price was the worst performer on the ASX 200 last week with a 7.5% decline. Investors were selling down gold miners after the price of the precious metal weakened. This has been driven by expectations for quicker than expected rate increases from the US Federal Reserve. The S&P/ASX All Ords Gold index dropped 1.5% over the five days.

Imugene Limited (ASX: IMU)

The Imugene share price was a close second with a decline of 7.4% last week. This was despite there being no news out of the immuno-oncology focused biopharmaceutical company. Though, it is worth noting that Imugene’s shares are on a downward trend right now. So much so, they are now down by 42% since the start of the year. Valuation concerns appear to be weighing on its shares.

James Hardie Industries (ASX: JHX)

The James Hardie share price was out of form and tumbled 7.1% over the five days. Once again, this was despite there being no news out of the building materials company. Though, James Hardie’s shares have come under significant pressure since missing materially with its third quarter earnings in February. The company’s shares hit a 52-week low last week.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price was a poor performer and dropped 7% last week. The majority of this decline is attributable to the retailer’s shares trading ex-dividend. In February, Harvey Norman released its half year results and declared a fully franked interim dividend of 20 cents per share. This will now be paid to eligible shareholders next month on 2 May.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• What boosted the Whitehaven Coal (ASX:WHC) share price on Friday?
• Federal budget: Goldman Sachs names 4 ASX shares to buy
• ASX 200 (ASX:XJO) midday update: Allkem jumps on lithium pricing update: Domain to acquire Realbase
• These were the best performing ASX 200 shares in March
• These were the worst performing ASX 200 shares in March

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 Harvey Norman Holdings Ltd. The Motley Fool Australia owns and has recommended Harvey Norman 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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There’s some weird stuff going on in the world of cryptocurrencies at the moment.

The company that develops Terra (CRYPTO: LUNA) and TerraUSD (CRYPTO: UST) announced that it would buy up US$10 billion ($13 billion) of Bitcoin (CRYPTO: BTC).

Why is Terraform Labs doing this?

First we need to dig into the mechanism behind Terra and TerraUSD.

Creation of TerraUSD pushes up Terra’s value

According to Coinjar head of content Luke Ryan, investors have been stepping over each other to get their hands on TerraUSD because of a guarantee of 20% returns from the decentralised finance (defi) platform Anchor Protocol.

A yield of 20% is understandably tempting to investors who can only reap near-zero from bank deposits and maybe 5% from shares if they’re lucky.

But how do you get your hands on TerraUSD? 

It needs to be converted from Terra. For each TerraUSD created, one Terra is burned.

“Right now people are minting a huge amount of UST in order to take advantage of Anchor’s almost definitely unsustainable 20% returns,” Ryan said on the Coinjar blog.

“The UST supply has gone from US$2bn to almost US$16bn since November, resulting in the destruction of hundreds of millions of LUNA tokens – and a corresponding uptick in the LUNA price.”

Indeed, Terra has doubled in value since late February.

“Since November (i.e. the start of the bear market), the amount of UST in circulation has gone up 800% and is still increasing by roughly US$100 million per day. At US$16 billion, UST is almost twice as large as Dai (CRYPTO: DAI), the second largest algorithmic stablecoin.”

What if this money-making system fails?

That’s all fantastic for owners of Terra and TerraUSD. But can this party last forever?

That’s where the massive purchase of Bitcoin comes in.

“Let’s imagine a mass panic event — say, a large-scale exploit of ANC,” said Ryan.

“Overnight, billions of UST are redeemed for LUNA. To prevent the wholesale collapse of the ecosystem, Terra sells an equivalent amount of BTC instead.”

In other words, Terraform Labs co-founder and chief executive Do Kwon is spreading the risk of the Terra-TerraUSD-Anchor relationship.

“Functionally it’s not that different from the reserve requirement that all banks are subject to,” Ryan said. 

“The Bitcoin treasury exists to cushion a bank run that could otherwise cause a LUNA-UST death spiral.”

TerraUSD is currently in hot demand because of its 20% yield. But if the Anchor Protocol ever decides to end or even reduce that return, mass withdrawals are not out of the question.

That’s where the reserve Bitcoin will come into play, to stabilise the value of Terra.

The post Another crypto is buying $13 billion of Bitcoin. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s what moved the Bitcoin price 20% higher in March
• Here’s what ESG investors should know about cryptos like Bitcoin
• Mining Bitcoin is 3.5 times more expensive than digging up gold
• Bitcoin is up 25% in 10 days. Here’s what it’ll do now
• The Bitcoin price just reached a new 2022 high. Here’s why

Motley Fool contributor Tony Yoo owns Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. 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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Despite a small blip late on in the week, the S&P/ASX 200 Index (ASX: XJO) managed to record its third consecutive weekly gain. The benchmark index rose 1.2% over the period to end it at 7,493.8 points.

While a good number of shares climbed with the market, some rose more than most. Here’s why these were the best performers on the ASX 200 last week:

Novonix Ltd (ASX: NVX)

The Novonix share price was the best performer on the ASX 200 last week with a 16.1% gain over the five days. This was despite there being no news out of the battery materials and technology company. Though, with its shares still down 40% year to date even after this gain, some investors may believe they have been oversold.

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price wasn’t far behind with a gain of 14% last week. This appears to have been driven partly by rising lithium prices. At the end of the week, Allkem Ltd (ASX: AKE) revealed that it expects lithium carbonate pricing of approximately US$35,000 per tonne FOB for the June quarter. This is up from US$27,236 per tonne during the March quarter and is more than triple the US$11,095 per tonne it received during the first half.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price was a strong performer and charged 12.1% higher over the period. As the mining and mining services company has exposure to both iron ore and lithium, strong pricing for both appears to have given its shares a boost. In addition, there was a positive update relating to the Lockyer Deep-1 well, which led to Macquarie retaining its outperform rating and lofty $77.00 price target on the company’s shares.

Life360 Inc (ASX: 360)

The Life360 share price was on form and charged 10% higher last week. This follows a rebound in the tech sector which was strongest among loss-making shares that were hit hardest following the selloff earlier this year. The Life360 share price remains down 40% in 2022 despite this strong gain.

The post These were the best performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• 2 excellent ASX growth shares brokers rate as buys
• 5 ASX mining shares rocking all-time highs on Friday
• These were the best performing ASX 200 shares in March
• The US is backing Aussie critical minerals projects, and these ASX mining shares could be set to reap the rewards
• The ASX 200 just had its longest winning streak since 2017. What’s doing?

Motley Fool contributor James Mickleboro owns Life360, Inc. and Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. The Motley Fool Australia has recommended Macquarie Group 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 Fortescue Metals Group Limited (ASX: FMG) share price performed better than the S&P/ASX 200 Index (ASX: XJO) in March 2022.

Last month, the Fortescue share price rose by 13.8%. That compares to the ASX 200’s return of 6.4%. Fortescue’s return was more than double that of the ASX 200.

What could have helped the Fortescue share price?

Fortescue is one of the world’s biggest iron ore miners. Changes in the iron ore price can impact investor sentiment regarding the miner.

During March, the iron ore price rose by approximately US$10 per tonne. This can lead to higher profits for miners because a change in the commodity price doesn’t change the costs to extract it from the ground, so higher prices can largely add to the bottom line.

The recent Fortescue FY22 half-year result disclosed that its average revenue per dry metric tonne fell by 16% to US$95.58 per tonne, which led to the net profit after tax (NPAT) falling 32% to US$2.8 billion.

Green hydrogen progress continues

However, Fortescue isn’t just an iron ore miner anymore.

It has a division called Fortescue Future Industries (FFI), which is aiming to take a global leadership position in green energy and green technology, leading the effort to decarbonise sectors that are hard to decarbonise.

FFI is investing in creating a global portfolio of green energy projects to supply 15 million tonnes per year of renewable green hydrogen by 2030.

FFI recently announced it would be working with E.ON, one of Europe’s largest operators of energy networks and energy infrastructure. E.ON has 50 million customers.

Fortescue and E.ON are partnering to deliver up to five million tonnes per annum of green hydrogen to Europe by 2030.

Fortescue didn’t say this announcement was market sensitive for the Fortescue share price. But, the company did make an announcement to clarify the “$50 billion expenditure” that founder Dr Andrew Forrest referred to in order to make this a reality was only a “high-level assessment”.

Fortescue has only committed 10% of its net profit after tax to FFI, which was around US$1 billion in FY21.

Both partners have signed a memorandum of understanding to execute this ambition, with binding elements between the parties to deliver on this mission. Each side has committed to a research and study partnership.

FFI said:

This historic partnership marks E.ON’s and FFI’s broader ambition to lead the decarbonisation of Europe and to strengthen security of green energy supply at a time when Europe needs to reduce its energy dependence on fossil fuels from Russia as quickly as possible. Five million tonnes per annum of renewable green hydrogen is equal to approximately one third of the calorific energy Germany imports from Russia.

FFI said it intends for this large amount of renewable green hydrogen to be powered by Australia’s “immense” renewable resources as well as its other planned global projects, which will be distributed by E.ON. The two partners have also agreed to work together to analyse what solutions could look like to solve infrastructure issues and build a secure value chain.

The post The Fortescue share price doubled the return of the ASX 200 in March appeared first on The Motley Fool Australia.

More reading

• The ASX 200 just had its longest winning streak since 2017. What’s doing?
• Fortescue share price jumps 4% higher
• Are these ASX 200 mining shares in trouble?
• The Fortescue dividend was paid today. Here’s the lowdown
• Fortescue Future Industries just inked a multibillion-dollar green hydrogen deal in Germany. Here’s the lowdown

Motley Fool contributor Tristan Harrison owns Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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Are you interested in adding some more ASX shares to your portfolio?

Two ASX growth shares that could be worth considering are listed below. Here’s what you need to know about them:

Altium Limited (ASX: ALU)

The first ASX growth share to look at is Altium. It is a printed circuit board (PCB) design software provider which could be a top option due to its leading position in a market exposed to the Internet of Things and artificial intelligence.

PCBs are found in almost all electronic devices. As such, the proliferation of electronic devices due to the Internet of Things and artificial intelligence markets is expected to lead to increasing demand for its software over the next decade.

Bell Potter is positive on Altium and currently has a buy rating and $38.75 price target on its shares.

The broker has been pleased with Altium’s shift to subscriptions and still sees the company as a potential takeover target. In respect to the latter, it said: “Altium has already received an unsolicited takeover offer from Autodesk at $38.50 which was rejected. Our view is Autodesk’s Fusion 360 platform is lacking a high powered ECAD offering so we believe Autodesk would still be very interested in Altium and may come back with a revised offer.”

Life360 Inc (ASX: 360)

Another ASX growth share to look at is Life360. This growing technology company is responsible for the Life360 mobile app, which is a market leading app for families.

It offers features such as communications, driver safety, and location sharing. As of its last update, the company’s user base had grown to over 30 million globally. This is generating significant recurring revenue and opens the door to material cross and upselling opportunities for its recently acquired businesses.

Bell Potter is also bullish on LIfe360’s future. It currently has a buy rating and $10.00 price target on its shares.

The broker believes the recent selloff of its shares has created a buying opportunity. It said: “[Life360] remains a key pick and we believe has been oversold as, despite currently being loss making, has ample cash to fund it through to cash flow breakeven or positive in 2023 or 2024 while maintaining strong top line revenue growth and realising the synergy benefits from the recent Tile acquisition.”

The post 2 excellent ASX growth shares brokers rate as buys appeared first on The Motley Fool Australia.

More reading

• Why is the Life360 (ASX:360) share price rocketing 16% higher?
• 2 beaten down ASX growth shares analysts believe are great value
• The Altium (ASX:ALU) share price has leapt 7% in 2 weeks. Could it be heading higher?
• 3 beaten-down technology ASX shares to buy right now: expert
• Here are 3 ASX growth shares analysts are tipping as buys

Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium and Life360, Inc. 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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Whitehaven Coal Ltd (ASX: WHC) is among many ASX energy shares enjoying a strong run in 2022 due to interrupted global supply chains and the impact of the Russian invasion of Ukraine.

The S&P/ASX 200 Energy Index (ASX: XEJ) is up by almost 22% year to date. The Whitehaven Coal share price has outperformed the index by a mile, up by 51% over the same timeframe.

Fellow ASX energy shares that have picked up major ground in 2022 include Woodside Petroleum Limited (ASX: WPL), up 43%, and Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) — both up by 19%.

Today, the Whitehaven Coal share price finished up 0.48% to $4.17 amid news that the NSW Independent Planning Commission has conditionally approved expansion plans for one of the company’s mines.

Narrabri mine expansion

The Narrabri Mine, located in the NSW north-west, is Whitehaven Coal’s only underground mine. It has been operating since 2012. It employs 500 people, mainly local residents. Whitehaven Coal has previously received approval to dig up 11 million tonnes of high-quality thermal coal per annum until 2031.

Now, Whitehaven Coal wants to extend the mine. In early 2021, the NSW Department of Planning and Environment commenced a whole-of-government assessment of the project. The department concluded its review in January and recommended approval for the expansion. However, the state’s planning minister asked the commission to conduct a public hearing before making a final decision on their behalf.

The expansion involves extending longwall operations to the south of the mine and extracting an extra 82 million tonnes of coal. Dubbed the Stage 3 Extension Project, it will extend the life of the mine to 2044.

Today, a commission panel announced it has given consent but is imposing 152 conditions. These include performance measures to reduce the intensity of Scope 1 and Scope 2 greenhouse gas emissions.

Whitehaven Coal will also have to complete an Emissions Minimisation Plan. The plan will investigate and implement innovative, economically-feasible ways to further cut Scope 1 emissions through technology.

Why the expansion got approved

In its Statement of Reasons for Decision, the commission said the approval was partly “in recognition of the importance of the continuation of the extraction and exportation of coal to the NSW economy”.

The commission said:

The community raised concerns in submissions … regarding subsidence, water, greenhouse gas emissions, biodiversity, noise and Aboriginal cultural heritage. The Commission also received submissions in support of the Application, citing its positive social and economic benefits through the provision of employment for the local area and region.

The Commission finds that, on balance, the Project would achieve an appropriate balance between relevant environmental, economic and social considerations.

What else is happening at Whitehaven?

Whitehaven Coal updated the market today on its buyback of up to 10% of its shares.

Whitehaven said: “… The company’s on market share buy-back of up to 10% of shares and capped
at $400 million over a twelve-month period is progressing well. The Company is currently in a blackout period ahead of the release of its March Quarter Production Report scheduled for 20 April, after which Whitehaven’s share buy-back activities are able to re-commence.”

Whitehaven Coal began purchasing its own shares on 8 March. It spent $67 million acquiring 16.8 million shares over the month. This represents 16% of the maximum 103 million shares that it may acquire.

Whitehaven Coal share price snapshot

Whitehaven Coal shares are up 134% on the ASX over the past 12 months. For perspective, the S&P/ASX 200 Index (ASX: XJO) has risen by 8.8% over the same timeframe.

The post What boosted the Whitehaven Coal (ASX:WHC) share price on Friday? appeared first on The Motley Fool Australia.

More reading

• The Woodside share price gained 12% in March. Here’s why
• Brokers name 3 ASX shares to buy today
• ASX 200 (ASX:XJO) midday update: Allkem jumps on lithium pricing update: Domain to acquire Realbase
• These were the best performing ASX 200 shares in March
• These were the worst performing ASX 200 shares in March

Motley Fool contributor Bronwyn Allen owns Woodside Petroleum Ltd. 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 Zip Co Ltd (ASX: Z1P) share price was trading lower today ahead of the closure of its share purchase plan (SPP).

At Friday’s close of trade, the buy now, pay later (BNPL) provider’s shares were down 1.01%, trading at $1.47.

All the important details regarding the SPP

Investors sent the Zip share price in negative territory through the day as time dwindled to be a part of the company’s SPP.

On 11 March, Zip advised it had opened its $50 million SPP to eligible shareholders. This followed the company’s successful completion of a $148.7 million institutional placement from an array of institutional, sophisticated and professional investors.

The SPP offers retail shareholders the chance to subscribe for up to $30,000 worth of new Zip shares.

Furthermore, the issue price is likely to be a 2% discount on the five-day volume-weighted average price to today.

While this may seem attractive as it is considerably lower than the $1.90 per share taken up in the institutional placement, Zip shares have been on a decline.

Over the month, the company’s shares have fallen 33% in value, trading near March 2020 lows when the COVID-19 pandemic hit.

Zip previously noted that the proceeds of the placement and SPP would go towards strengthening its balance sheet.

In addition, it is also looking to shore up funds to execute on the potential synergies from the upcoming transaction. This relates to the $491 million all-scrip acquisition of Sezzle Inc (ASX: SZL).

Zip is expected announce the SPP results on Wednesday 6 April.

Settlement and allotment of the new shares will occur on 8 April, with normal trading commencing on Monday 11 April.

About the Zip share price

Despite making strides to grow organically, the Zip share price has fallen more than 80% in the last 12 months, with a 65% drop since the start of 2022.

Zip commands a market capitalisation of around $985.18 million based on today’s share price.

The post Zip share price backtracks ahead of share purchase plan closure appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares in March
• The Zip share purchase plan closes tomorrow. Here’s what you need to know
• Could the Zip share price turn over a new leaf in April?
• Why is the Zip share price launching 7% on Tuesday?
• Guess how many cents now separate the Zip share price from its market-crash low

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 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 Bruce Jackson.

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