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The Rio Tinto Ltd (ASX: RIO) share price is in the red today amid lithium acquisition news.

The mining company’s shares are currently trading at $116.77, a 1.43% fall. The S&P/ASX 200 Resources Index (ASX: XJR) is also down 0.95% at the time of writing while the BHP Group Ltd (ASX: BHP) share price is down 0.77%.

Let’s take a look at what Rio Tinto announced today.

Lithium acquisition news

Rio has cleared the final hurdle to acquire the Rincon Mining lithium project in Argentina for $825 million.

The company has received approval from the Australian Foreign Investment Review Board (FIRB) for the takeover.

The “underdeveloped” lithium brine resource is located in the so-called lithium triangle in the Salta Province of Argentina.

Rio sees the project as one that can help the company decarbonise, given the project’s low carbon footprint.

Rio informed the market of plans to acquire the project in December 2021.

The company highlights lithium demand is predicted to surge between 25 to 35% per year over the next decade.

Yesterday, UBS upgraded Rio’s shares from a “sell” to neutral on the back of increasing iron ore price forecasts.

The gold price fell 1.73% overnight, while silver dropped 2.35%. Rio mines gold, silver, diamonds, copper, aluminum, iron ore, and uranium.

Management comment

Commenting on the news, Rio Tinto chief executive Jakob Stausholm said:

Rincon strengthens our battery materials business and positions Rio Tinto to meet the double-digit growth in demand for lithium over the next decade, at a time when supply is constrained.

We will be working with local communities, the Province of Salta and the Government of Argentina as we develop this project to the highest ESG standards.

Rio Tinto share price snapshot

The Rio Tinto share price is up 17% this year to date, gaining about 4% in the past 12 months.

Rio Tinto shares have risen 6% over the past week alone.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is up nearly 10% in the past 12 months.

Rio has a market capitalisation of more than $43 billion based on its current share price.

The post What’s with the Rio Tinto (ASX: RIO) share price today? appeared first on The Motley Fool Australia.

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• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today
• What is the outlook for ASX 200 mining shares in April?
• Why is the Rio Tinto (ASX:RIO) share price up today?
• BHP share price higher on broker upgrade

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 shares have staged a snap-back rally this month as investors pile back into equities and ETFs. The All Ordinaries Index (ASX: XAO) has jumped 156 basis points over the last week and is continuing its march today.

It’s up another 0.62%, or 48 points, in early trading on Tuesday at 7,737 points.

Leading the charge are financial, tech, and commodity-based players fronting the benchmark indices and stringing up the broader market.

As the world winds back from COVID-19 and starts to reopen, it’s no wonder money managers are positioning themselves to take advantage of the prevailing trends.

Pullbacks: add to ‘high-quality businesses’

The All Ords has started to climb back towards its 3-month highs and has shrugged off fears of a global recession in March.

Within the Australian market, two players have caught the eye of Prime Value Emerging Opportunities Fund portfolio manager Richard Ivers.

Ivers said that his fund had managed to capitalise on the recent pullback in equity markets and used the selloff to add more to key holdings.

“Recent volatility has enabled us to add to existing holdings of high-quality businesses we know well which became cheaper,” the portfolio manager told The Australian Financial Review.

Two of these names are insurance broker AUB Group Ltd (ASX: AUB) and fashion retailer City Chic Ltd (ASX: CCX), Ivers noted.

Why the bullish outlook?

AUB has spiked 19% in the past 12 months after a wobbly year, but momentum has slowed in 2022.

Since trading restarted in January, its shares have tumbled more than 12%, giving the portfolio manager an exciting entry point. They now trade at $22.77 apiece at the time of writing.

In its half-yearly results in February, the company reported underlying net profit after tax (NPAT) growth of 17% to $30 million while reported NPAT grew 28% year on year.

The board also declared a 17 cents per share dividend with shareholders to receive full franking credits as a taxable offset.

It also guided NPAT growth for FY22 between 19%-22.3%, calling for $72-$74 million at the bottom line.

Meanwhile, shares in City Chic have been punished in 2022, having erased more than 39% since January when trading resumed.

Investors weren’t satisfied with the company’s half-yearly results and no doubt wanted more from the company’s 6% reduction in net profit to $12.3 million.

As a result, shareholders aren’t privy to a dividend this earnings cycle from the fashion retailer. As The Motley Fool’s Brooke reported at the time, “due to COVID-19 uncertainty, investment in inventory, a decline in operating cash flows, and acquisition opportunities, the company hasn’t paid a dividend this half.”

“It didn’t pay a dividend for financial year 2021 either.”

Nonetheless, Ivers is constructive on the stock, as he is on all the holdings in the Emerging Opportunities Fund.

And the experienced market pundit doesn’t fear calamity, opting to view it as an opportunity to pounce instead.

“…the sell-off finally gave us the opportunity to buy at an attractive price – that’s the great thing about volatility. Many people hate it, we like it!”

The post Fundie is buying these 2 ASX All Ords shares at discount prices appeared first on The Motley Fool Australia.

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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 recommended Austbrokers Holdings 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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Strong interest from offshore investors may have contributed to S&P/ASX 200 Index (ASX: XJO) shares outperforming the S&P 500 (INDEXSP: .INX) recently.

Macquarie noted that demand for ASX shares from overseas investors has significantly increased since Russia’s invasion of Ukraine, reported The Australian.

While the war has delivered a blow to investor sentiment, the impact wasn’t as badly felt here. The ASX 200 Index is more than 200 basis points ahead of the S&P 500 since the start of the year.

Why ASX shares are beating the US

It’s rare for ASX’s benchmark index to beat its US counterparts. This time, it coincides with increased buying from international investors.

“Our Australian equities team has seen this interest first hand,” Macquarie’s Australian equity strategist, Matthew Brooks was quoted as saying by The Australian.

“For the first time in several years there is strong interest in Australian equities, mostly resources but also banks and real estate.

“Australia is a long way from the Russia-Ukraine war, but the event is having a bigger than expected impact on the share market.”

Exchange rate outlook favours ASX shares

The broker also increased its exposure to ASX shares, including resources, in its model portfolio recently. One reason is that Macquarie believes the Australian dollar could jump as high as US96 cents.

This prediction isn’t farfetched if commodity prices remain high while the US economy slows due to inflation.

The jump in the Aussie will give unhedged offshore investors a further gain from the exchange rate.

Commodity price upgrade provides second tailwind

Meanwhile, analysts have been upgrading their price forecasts for a wide range of commodities, from metals to energy.

This probably helped the BHP Group Ltd (ASX: BHP) share price rally to a seven-month high yesterday. Its peers like the Rio Tinto Limited (ASX: RIO) share price and the South32 Ltd (ASX: S32) share price have also performed strongly in the last several weeks.

“An important implication of the commodity tailwind for Australian growth is that our domestic cycle has suddenly improved relative to the US,” added Brooks.

Rising tensions put Australia in a good spot

But commodity prices and the currency aren’t the only tailwinds for ASX shares. Brooks believes Europe’s largest conflict since the Second World War has forced global investors to think about geopolitical risks.

“These risks are likely greater in authoritarian regimes, and the other large authoritarian country is China,” he said.

“For investors concerned about investing in China, Australia is an alternative for Asia exposure, as it offers resources exposure within the backdrop of Australia’s strong and stable democratic institutions and governance.”

The post Why international investors are flocking to ASX shares right now appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares to guide you through a turbulent 2022: expert
• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today
• What is the outlook for ASX 200 mining shares in April?
• Why is the Rio Tinto (ASX:RIO) share price up today?
• The BHP dividend is being paid today. Here’s what you need to know

Motley Fool contributor Brendon Lau owns BHP Billiton Limited, Macquarie Group Limited, Rio Tinto Ltd., and South32 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 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 Uniti Group Ltd (ASX: UWL) share price is rising again on Tuesday.

In morning trade, the growing telco’s shares are up 4% to $4.92.

Why is the Uniti share price rising today?

The Uniti share price is rising today after the bidding war for the telco between Morrison & Co and Macquarie Group Ltd (ASX: MQG) intensified.

According to an announcement this morning, the company has received a revised indicative proposal from a consortium comprising Morrison & Co and Brookfield Infrastructure Group to acquire Uniti for cash consideration of $5.00 per share via a scheme of arrangement. This brings its offer in line with what Macquarie tabled last week.

The release notes that other than the increase in proposal price and the inclusion of Brookfield as a 50/50 partner, the terms and conditions of the revised proposal are largely the same as the previous offer revealed on 14 March.

Uniti also revealed that the Morrison/Brookfield consortium has advised that it has made significant progress in relation to both its diligence program and engagement with lenders. Importantly, the consortium has not identified anything that would indicate that it would not be able to enter into a binding scheme implementation agreement with Uniti.

What about Macquarie’s offer?

At this stage, it looks to be advantage Morrison/Brookfield consortium. As part of the Morrison proposal, Uniti is unable to offer due diligence to any other suitors for four weeks even if they present a superior proposal.

Whereas Macquarie’s proposal demands the granting of due diligence within four weeks, which Uniti notes is “incompatible” with the Morrison/Brookfield proposal.

As a result, after careful consideration of both proposals, the Uniti board has determined it is in the best interests of shareholders to engage with the Morrison/Brookfield consortium on its revised proposal and thus won’t be engaging with Macquarie at this time.

Uniti will continue to update shareholders, in accordance with its continuous disclosure obligations, of further developments as they arise.

The post Uniti (ASX:UWL) share price up 4% as Morrison ups the ante appeared first on The Motley Fool Australia.

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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited and Uniti 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 Nearmap Ltd (ASX: NEA) share price is on fire on Tuesday morning.

At the time of writing, the aerial imagery and location data company’s shares are up 13% to $1.46.

Why is the Nearmap share price rocketing higher?

Investors have been bidding the Nearmap share price following the release of an annual contract value (ACV) update.

According to the release, Nearmap has reached another key financial milestone, achieving ACV of $150 million across its group portfolio for the first time. This means the company has already achieved the low end of its full year guidance range.

Management notes that this follows continued strong momentum across the business, which includes Nearmap signing its largest ever government annual contract in North America. It highlights that premium content was a key factor in the contract win.

It feels that the largest ever government annual contract win demonstrates the enormous value and benefits government organisations gain from Nearmap technology, data, content and analysis.

Management commentary

Nearmap’s chief executive officer and managing director, Dr Rob Newman, was pleased with the achievement. He said:

“Nearmap is in an incredible position where we continue to win new customers and retain existing customers due to our world-leading location intelligence offering.

In achieving for the first time the milestone of $150 million in Group annual contract value, we again show the strength of our technology and data, and expertise of our global team. To announce this ACV milestone in the same month we signed our largest ever government annual contract in North America shows our global growth engine continues to power ahead.”

In light of this strong start to the second half, Nearmap re-affirms that it expects its Group ACV portfolio to be at the upper end of the $150 million to $160 million guidance range in FY 2022. This will be up from $128.2 million in FY 2021.

The post Why is the Nearmap (ASX:NEA) share price rocketing 13% today? appeared first on The Motley Fool Australia.

More reading

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• Lake Resources (ASX:LKE) share price charges 8% higher on major offtake deal
• 2 defensive ASX dividend shares offering reliable income
• Growth will be back! Expert picks 7 ASX shares to buy 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. owns and has recommended Nearmap Ltd. The Motley Fool Australia owns and has recommended Nearmap 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened 

The value of Bitcoin mining related stocks jumped on Monday as the price of Bitcoin itself shot higher. At 3:30 p.m. ET the value of Bitcoin was up 7.3% over the last 24 hours and 17.4% over the past week. 

That’s pushed shares of miners Riot Blockchain (NASDAQ: RIOT) as much as 15% higher and 10.3% up as of this writing. Competitor Hut 8 Mining (NASDAQ: HUT) was up as much as 13.6% and is now up 6.6%. And computing supplier Canaan (NASDAQ: CAN) was up 11.7% at its high and is currently 5.5% higher for the day. 

So what 

Miners are clearly set to make more money as the price of Bitcoin rises because their costs don’t go up significantly and their revenue will. This is much like the commodity of a physical materials miner going up. 

The other leverage they have is that miners tend to have significant Bitcoin assets on their balance sheet, which will also rise in value on a day like today. 

To put the assets they hold into perspective, at the end of 2021 Riot Blockchain had 4,884 bitcoins on the balance sheet and Hut 8 Mining was holding 5,518 bitcoins. These assets are appreciating with the price of Bitcoin and are certainly helping stock values today. 

Canaan is the one outlier from this list, holding just 70.5 bitcoins and generating its revenue from selling mining machines to operators. It may not have the same direct impact as miners do from the rise in Bitcoin, but this is a rising-tides-lift-all-boats kind of move for Canaan.

Now what 

Today’s move across the cryptocurrency market wasn’t driven by any specific piece of news, but rather a general uptick in bullishness for cryptocurrencies. There were reports that the U.K. is set to announce some cryptocurrency regulations soon and they’re expected to be relatively pro-crypto in nature. If that’s true, it’ll be good for crypto values and digital assets, continuing a positive executive order from the White House earlier this month. 

While volatility will continue to be the standard for the crypto industry, I think it’s clear that we’re heading to a more steady state for the industry. Investors and developers are getting more comfortable that crushing regulations won’t come from developed countries and that will likely lead to even more investment. 

I think long-term these trends are bullish for the crypto industry, but with that said I would expect extreme volatility to continue, so don’t expect values to go straight up like they have over the past week, because they can reverse course just as quickly. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Bitcoin mining stocks just leapt higher appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares primed to bounce back: expert
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Travis Hoium has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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ASX shares have rallied this past month as investors pile back into equities and exchange-traded funds (ETFs).

The S&P/ASX 200 Index (ASX: XJO) has jumped 162 basis points in the last week and was at 7,412 at the opening of trade on Tuesday.

Meanwhile, the S&P/ASX All Technology Index (ASX: XTX) has rallied more than 4% in the past month and is now leading the charge alongside financials and commodity stocks.

For instance, the S&P/ASX 200 Financials Index (XFJ) has climbed 7% since November last year while June futures on the Bloomberg Commodity Index has shot up 30%.

ASX shares rumble back

While the market has been filled with pockets of red in 2022, there are still plenty of ASX shares on sale, according to one expert.

Three of these names are REA Group Limited (ASX: REA), Seek Limited (ASX: SEK), and cloud accounting company Xero Limited (ASX: XRO), according to Ben Clark, portfolio manager at TMS Capital.

Each of these companies has performed well in terms of fundamentals lately, Clark says, citing a number of tailwinds for each name.

“So companies like REA grew their earnings 37% last half,” he said of the digital advertising company when speaking to Livewire.

“Every newspaper I pick up on Monday, a record number of auctions on Saturday. That’s great for REA.”

Whereas in Seek’s case, the macroeconomic landscape is generating a promising outlook for the online jobs marketplace.

“Companies like Seek, the job market is as tight as I’ve ever seen it,” Clark added. “Every headhunter that you speak to says, ‘Change this pricing dynamic model. We’re paying them more than we ever have. And we’ve just got to do it’.”

Finally, as tech regains strength again, ASX shares such as Xero could benefit investors greatly, he noted.

“Xero … is one that we own and has been one of our largest holdings, didn’t report in the reporting season,” Clark said, adding the company is almost flawless in terms of negative sentiment.

“It’s such a resilient, consistent business. I don’t think you’re going to get any bad news from it. It’s dropped 40% from its January 1 high.”

Clark also reckons the market will bounce back and that “when growth starts to run” companies that came in with strong earnings will be front and centre.

The post 3 ASX shares primed to bounce back: expert appeared first on The Motley Fool Australia.

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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. owns and has recommended Xero. The Motley Fool Australia owns and has recommended Xero. The Motley Fool Australia has recommended REA Group Limited and SEEK 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 Lake Resources N.L. (ASX: LKE) share price is charging higher on Tuesday.

In morning trade, the lithium developer’s shares are up 8% to $1.81.

Why is the Lake Resources share price charging higher?

The catalyst for the rise in the Lake Resources share price on Tuesday has been the announcement of a deal with Japan’s Hanwa Co.

According to the release, Lake has signed a non-binding memorandum of understanding (MoU) with Hanwa Co for offtake of 15,000 to 25,000 tonnes per annum (tpa) of lithium carbonate over 10 years from its Kachi Project in Argentina. The lithium carbonate will be priced at average quarterly benchmark market prices.

The top end of the agreement represents half of Kachi’s planned production of 50,000 tpa.

The release also notes that the MoU allows for Hanwa to consider providing financial support mechanisms. This includes meaningful equity investment, a potential prepayment on offtake, and trade finance facilities in order to secure a long-term agreement and build up a sustainable partnership with Lake.

Management commentary

Lake’s chairman, Stu Crow, commented: “This MoU and finalisation of a binding offtake agreement with Hanwa will allow Lake to stay an independent supplier into global lithium supply chains and ensure security of supply to the market and potential customers.”

“Increasing customer and consumer scrutiny around the environmental credentials of lithium production; and concerns about security of supply has given us the confidence to enter into this partnership with Hanwa,” Mr. Crow added.

Lake intends to update the market on progress on the legally binding framework and other agreements as soon as it is able to do so.

Following today’s gain, the Lake Resources share price is now up over 500% since this time last year.

The post Lake Resources (ASX:LKE) share price charges 8% higher on major offtake deal appeared first on The Motley Fool Australia.

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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. 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 share market is seeing a lot more volatility this year. Reliable ASX dividend shares could be attractive to investors seeking stability.

There are some businesses that can have quite variable cash flows during economic cycles. However, there are also other options that share seeing consistent and growing cash flow, like these two:

APA Group (ASX: APA)

APA Group is one of the largest infrastructure businesses on the ASX, particularly with Sydney Airport’s recent departure from the ASX due to its takeover.

It is a large owner of energy infrastructure. APA says it is Australia’s leading gas transportation company with interests in more than 15,000 km of natural gas pipeline infrastructure across Australia, wind farms, gas-fired power generation, and gas storage facilities. It supplies half of Australia’s natural gas usage.

The business generates its annual cash flow from that portfolio of energy assets. As it completes more projects, its cash flow can grow. That rising cash flow is what funds the growing distribution.

The ASX dividend share’s distribution has grown every year for more than a decade and a half.

APA Group is expecting to grow its FY22 annual distribution by another 3.9% to 53 cents per security. That puts the FY22 dividend yield at 5.1% at the current APA share price.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate investment trust (REIT). It specialises in owning and leasing agricultural properties.

It owns a diversified portfolio spread across several sectors including cattle, vineyards, almonds, macadamias, and cropping (sugar and cotton).

The business benefits from organic rental income growth every year. Some of its contracts are based on fixed rental increases, while others are linked to CPI inflation. Some contracts also have periodic market reviews.

This ASX dividend share also invests in productivity at its farms for the benefit of its tenants, which aims to increase the value of the farms and also grow the rental potential.

It has a tenant base full of major operators including Select Harvests Limited (ASX: SHV), Treasury Wine Estates Ltd (ASX: TWE), Olam, JBS, and Australian Agricultural Company Ltd (ASX: AAC).

Rural Funds aims to grow its distribution by at least 4% per year for investors. It has been successful with this strategy since listing several years ago.

The REIT has guided that the FY22 distribution will be $11.73 per security, representing a 4% increase compared to FY21. That translates into a distribution yield of 4% at the current Rural Funds share price.

The post 2 defensive ASX dividend shares offering reliable income appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns RURALFUNDS STAPLED. 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 APA Group and RURALFUNDS STAPLED. The Motley Fool Australia has recommended Treasury Wine Estates 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 growth shares will make a comeback, one expert says, but don’t be tempted into thinking they all will.

That’s the message from TMS Capital portfolio manager Ben Clark, who said the ones that will rise again are businesses that are profitable or “on the cusp” of it.

“I’m sure everyone watching this has one or two stocks that they look at in their portfolio and think, ‘Why the hell did I buy that?’,” he said in a Livewire video.

“Maybe it was a tip on a golf course.”

So considering the need for selectivity in 2022, he urged investors to not hold onto ASX shares just with the vain hope that the price will come roaring back.

“Some things won’t come back,” he said.

“There was a lot of froth and excess — particularly in the second half of 2021 — which is being really washed out of the market at the moment.”

Clark named 7 growth ASX shares that are mature enough to be turning a profit or on the verge of it that he’s confident about a bounceback:

The magnificent seven

The companies he nominated all reported positive numbers during the February financials season:

• REA Group Limited (ASX: REA)
• Seek Limited (ASX: SEK)
• Resmed CDI (ASX: RMD)
• Macquarie Group Ltd (ASX: MQG)
• Pro Medicus Limited (ASX: PME)
• IDP Education Ltd (ASX: IEL)
• Xero Limited (ASX: XRO)

Backing businesses that are turning a profit and reporting bright financials sounds obvious, but they’re the growth shares that will surge again, according to Clark.

“The market will come back,” he said.

“When growth starts to run, the businesses that reported really strongly in February, and it was just completely ignored, will be the first businesses to roar back.”

Accounting software provider Xero has been one of Clark’s largest holdings.

“It’s dropped 40% from its January 1 high,” he said.

“It’s such a resilient, consistent business. I don’t think you’re going to get any bad news from it.”

Two online classifieds businesses also make Clark’s list.

“REA grew their earnings 37% last half. Every newspaper I pick up on Monday, there’s a record number of auctions on Saturday,” he said.

“Companies like Seek, the job market is as tight as I’ve ever seen it.”

Macquarie reported “its best quarter on record” and Resmed is still enjoying the effects of competitor Koninklijke Philips NV (AMS: PHIA)’s product recall.

“These are still 20%, 30% off their January 1, two-month prices. The businesses are continuing to trade extremely well,” said Clark.

“IDP is another one that I listened to the result and I thought was excellent.”

Pro Medicus is the very long-term bet out of the seven picks.

“Very high PE feels like the thing you shouldn’t be buying at the moment, but I suspect that’s the time you want to be getting really interested.”

The post Growth will be back! Expert picks 7 ASX shares to buy now appeared first on The Motley Fool Australia.

More reading

• 2 beaten down ASX growth shares analysts believe are great value
• 2 ASX tech shares to buy now for DIRT CHEAP: experts
• Why did the Xero (ASX:XRO) share price sink 5% today?
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Motley Fool contributor Tony Yoo owns Macquarie Group Limited, ResMed Inc., and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Idp Education Pty Ltd, Pro Medicus Ltd., and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns and has recommended Pro Medicus Ltd. and Xero. The Motley Fool Australia has recommended Macquarie Group Limited, REA Group Limited, ResMed Inc., and SEEK 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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