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The Cimic Group Ltd (ASX: CIM) share price showed its resilience today. This comes after reports the company has underpaid hundreds of its workers at its Middle East operations.

At the close of trading, the engineering company’s shares were flat at $22.00 apiece.

What happened?

The Cimic share price stood firm today amid fresh allegations in an alleged wages scandal that first surfaced last year.

It involves claims the company short-changed workers, subcontractors, and banks in the United Arab Emirates, Oman, and Saudi Arabia.

According to an article published in The Age, Cimic could face criminal prosecution as it’s accused of owing $500 million.

A judicial guard appointed as administrator of Leighton Contractors Qatar (LCQ), Fatima Almass Al-Hamad, said, “the situation is a humanitarian disaster”.

In 2018, LCQ was formed following the merger of the Qatari building contractor Al Habtoor Engineering with Gulf Leighton, the CIMIC Group’s original operating company in the Gulf region. However, in 2020, the company went into receivership.

Al-Hamad said, “With no salary and no health insurance, the workers are struggling to survive and cannot support their families”.

LCQ is currently being investigated by the administrator over a number of alleged breaches of Qatari legislation.

Cimic refutes the allegations made and claims all employee entitlement payments were honoured up until its exit from the Middle East and Dubai-headquartered BIC Contracting (BICC).

Last year in February, the company signed a share purchase agreement with SALD Investment LLC. The deal saw Cimic sell its 45% non-controlling interest in BICC for “nominal” consideration.

Cimic stated it would re-focus its efforts on major markets including Australia, New Zealand, and the Asia Pacific.

Management noted that since February 2021, around 40 people (equivalent to 2%) remain unpaid in the UAE and Saudi Arabia. Payment is expected soon, as soon as settlements are reached between BICC and the employees.

Cimic share price snapshot

Over the last 12 months, the Cimic share price has gained roughly 10%. It is also up 30% year to date.

The company’s shares reached a 52-week high of $22.42 last month following a takeover approach by Hochtief Australia.

Cimic commands a market capitalisation of close to $6.85 billion at today’s prices.

The post Cimic (ASX:CIM) share price holds ground amid ‘humanitarian disaster’ claims. Here’s why appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares in February
• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Why Cimic, Lovisa, NextDC, and Nine shares are charging higher
• ASX 200 (ASX:XJO) midday update: Appen and Life360 crushed, Flight Centre posts $188m loss

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

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Today, the S&P/ASX 200 Index (ASX: XJO) solidified another green day backed by strength in the energy and mining sectors. At the end of the session, the benchmark index finished 0.49% higher at 7,151.4 points.

Thursday ended up being a great day for investors in mining and energy companies. Both sectors have been pushing to the upside amid sanctions imposed on Russia. Meanwhile, consumer staples let down the index with its 2.1% fall today. Coles Group Ltd (ASX: COL) dragged the sector lower with it trading ex-dividend throughout the session.

However, the question is: which shares managed to stay in the green on the ASX today? Here are the top ten stocks that pulled through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Yancoal Australia Ltd (ASX: YAL) was the biggest gainer today. Shares in the coal-producing company gained another 10.98% today after posting an impressive gain yesterday. Record high coal prices — over US$400 per tonne — have put steam under this company’s wings recently. Find out more about Yancoal Australia here.

The next biggest gaining ASX share today was Whitehaven Coal Ltd (ASX: WHC). Yet another coal producer hitting 52-week highs on Thursday — Whitehaven Coal was pushed 10.62% above its previous closing price. Uncover the latest Whitehaven Coal details here.

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

ASX-listed company	Share price	Price change
Yancoal Australia Ltd (ASX: YAL)	$4.75	10.98%
Whitehaven Coal Ltd (ASX: WHC)	$3.96	10.62%
AVZ Minerals Ltd (ASX: AVZ)	$0.945	8.00%
Liontown Resources Ltd (ASX: LTR)	$1.615	6.95%
Pilbara Minerals Ltd (ASX: PLS)	$2.96	5.34%
Nickel Mines Ltd (ASX: NIC)	$1.63	5.16%
OZ Minerals Ltd (ASX: OZL)	$27.09	5.04%
Beach Energy Ltd (ASX: BPT)	$1.68	4.67%
IGO Ltd (ASX: IGO)	$12.31	4.41%
Fortescue Metals Group Ltd (ASX: FMG)	$19.37	4.20%

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 are the 3 most heavily traded ASX 200 shares this Thursday
• Aussie coal is in hot demand, and these ASX coal shares are booming
• Why IGO, Lake Resources, Talga, and Whitehaven Coal shares are charging higher
• Are ASX green energy shares losing their appeal amid rising oil and gas prices?
• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded

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 owns and has recommended COLESGROUP DEF SET. 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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During times of uncertainty, volatility and market malaise, many ASX investors feel the need to sell out of some, or even all, of their ASX share. How do we know this? Because if a share market is falling, it usually means there are more sellers than buyers in the market. That’s how the laws of supply and demand play out on a stock exchange. 

But this might not always be the best move for an investor. After all, the legendary billionaire stock picker Warren Buffett is famous for his oft-repeated mantra of ‘be greedy when others are fearful’. And history is full of examples that show that selling when the market tanks is usually not the soundest of moves. For example, it didn’t take too long for an investor that cashed out the shares back in March of 2020 to feel very silly indeed. 

But of course, that wisdom is only available in hindsight. And it is certainly easier said than done. Over 2022 so far, we have seen a lot of share market volatility. From fears over inflation and rising interest rates to the ongoing war in Ukraine, there has been a lot of negative news. And judging by the gyrations we have seen in the markets, there has been a lot of selling too. 

Fear and greed

So have you considered selling (or have sold) your ASX shares at the wrong time out of fear?

Geroge Wong of Kauri Asset Management, says that despite the dread that volatility causes, there are good reasons why you should avoid acting impulsively. Writing for Livewire, here’s some of what Mr Wong had to say:

Humans have a tendency to be scared during times of uncertainty, especially when it comes to things that we cannot control. A falling market is just one example. This is a phenomenon that is in many respects conditioned into us as part of the fight or flight response… It was evident thousands of years ago in our ancestors, and it is still on show today…

In the minds of many, it is better to make a decision to try to do something to reduce our fear. However, that often might not be the best course of action given the emotions tied to those decisions and the general tendency for the market to climb higher over time.

We never ‘have to’ do anything, including selling shares

Wong calls this “decision” an example of ‘action bias’ – the need to do something. If markets are doing something dramatic, then many investors feel they need to match that dramatic action. Perhaps by selling their shares. Or even by avoiding buying quality shares when they are ‘on sale’. 

He even cites Buffett’s example:

We should know from some of the most-successful investors of all time, including Warren Buffett, the buy-and-hold strategy is a proven approach to do well in the market. You don’t need to trade just for the sake of trading, and if you are forcing it, something is likely awry.

Concluding, Wong states that keeping one’s eye on our own behaviour can be one of the best paths to long-term success in investing. Here’s some of what he finished with: 

While a volatile market can be a confronting challenge for investors to navigate, we can’t let our fear dictate the decisions we make, nor the actions we take…

No matter your investing style, if you allow fear and action bias to have an influence over your mindset, you are no longer investing rationally but rather, emotionally… Remember, there is no need to be active in the market just for the sake of it. Patience and discipline are arguably the most fundamental mechanisms to combat action bias and deliver consistent returns over time.

Wise words indeed. And some points that we arguably all should keep in mind during these confronting and intimidating times. 

The post Are you selling your ASX shares at the wrong time out of fear? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Game on! PointsBet (ASX:PBH) share price rebounds 18% on Thursday
• ‘$2 billion cost’: How are the floods impacting ASX 200 insurance shares this week?
• 2 ASX 200 financial shares that hit 52-week lows on Thursday
• A2 Milk (ASX:A2M) share price slips amid ‘long-term implications’ of flooding

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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The PointsBet Holdings Ltd (ASX: PBH) share price spiralled upwards today, prompting ASX investors to pay attention.

At the close, shares in the sports betting company finished 18.2% higher at $4.35. More than 5.3 million shares exchanged hands during the course of Thursday’s session.

Oddly enough, investors are piling into the company today without any news from PointsBet. This leaves us to look back at what recent events could be impacting the PointsBet share price today.

Broker rating that’s hard to grapple with

In light of the lack of new information, investors are forced to revert back to the latest news on PointsBet for context. At this point in time, that takes us back to a broker note from Goldman Sachs, which was released yesterday.

The analysts at Goldman decided to reduce their price target on the sports betting company by 32% to $6.74. Clearly, shareholders were shaken by the revision, prompting the PointsBet share price to tumble 11.8%.

While the broker maintained its buy rating, it explained the new price target reflected a derating of peer multiples and lower earnings estimates.

Perhaps market participants have found solace in the broker’s retained buy rating? Notably, Goldman mentioned that both its medium-term and long-term forecasts for PointsBet’s EBITDA remained unchanged.

Last week, PointsBet posted its half-year earnings. Shareholders were tasked with deciphering whether it was a positive result overall or not.

Net revenue for the half increased by 27% year on year to $97.6 million. Meanwhile, statutory EBITDA losses deepened to $130.6 million versus the $71.3 million in the prior corresponding period.

PointsBet share price takes an ‘L’

The PointsBet share price appears to be caught up in a sector-wide sell-off. Competitors abroad and locally have suffered in a similar fashion during the past year.

On the ASX, Bluebet Holdings Ltd (ASX: BBT) is another bookie struggling with a 53% share price fall. Likewise, US-listed DraftKings Inc (NASDAQ: DKNG) has plunged 65% during the 12-month timeframe.

Yet, the PointsBet share price takes the cake with a 67% landslide.

The post Game on! PointsBet (ASX:PBH) share price rebounds 18% on Thursday appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
• Why Domino’s, Magellan, PointsBet, and Zip shares are falling
• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks
• Why is the PointsBet (ASX:PBH) share price sinking 13% today?
• These were the worst performing ASX 200 shares in February

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. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended BlueBet Holdings Ltd and 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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ASX 200 insurance shares are taking a battering this week amid devastating floods in Queensland and New South Wales.

Three S&P/ASX 200 Index (ASX: XJO) shares facing thousands of insurance claims are QBE Insurance Group Ltd (ASX: QBE), Insurance Australia Group Ltd (ASX: IAG), and Suncorp Group Ltd (ASX: SUN).

Let’s take a look at how the floods could impact these three shares.

Insurance claims sky rocket

A flooding crisis is sadly devastating two eastern states in Australia. Half a million people are currently under evacuation orders in New South Wales, Nine News reports.

S&P Global Ratings predicts the damage bill of the floods could be between $1 and $2 billion, Insurance News reported.

More than 48,200 flooding insurance claims are in the works, Insurance Council of Australia figures show. Most of these are in Queensland, however, NSW claims are expected to skyrocket in the next few days.

QBE has boosted its team helping flood victims lodge claims. The company said:

We’re working hard to support our customers affected by the severe weather and flooding across Australia’s East Coast, which is causing devastating damage to homes, vehicles and businesses.

Insurance Australia is being inundated with thousands of claims. The insurer expects the total number to rise as the event unfolds. In a release to the market on Tuesday, the company reiterated it has a maximum event retention of $95 million. This is the maximum loss the insurer can be exposed to in an extreme event.

Suncorp predicts the maximum retained cost from the floods will be about $75 million. In a statement to the market on Monday, the company said:

The full year outlook for natural disaster hazard costs remains around $1.075 billion.

The QBE share price has descended 7.3% since market close last Friday, including a 0.82% fall today. The IAG share price edged 0.68% higher today but has tumbled 7.5% this week. Meanwhile, Suncorp shares are down 4.7% since Friday after losing 1.12% today.

Share price recap

The QBE share price has surged 18% in the past year, while Suncorp has climbed 4%. Meanwhile, IAG has fallen 9% in the last 52 weeks. For perspective, the benchmark ASX 200 has returned almost 5% in the past year.

In the year to date, QBE and Suncorp shares have fallen around 4%, while the IAG share price has climbed 4%.

The post ‘$2 billion cost’: How are the floods impacting ASX 200 insurance shares this week? appeared first on The Motley Fool Australia.

More reading

• IAG (ASX:IAG) share price slumps amid $300m Greensill hit
• Why is the IAG (ASX:IAG) share price sliding this week?
• Why Betmakers, Fortescue, Suncorp, and Tyro shares are falling
• Here’s why the Suncorp (ASX:SUN) share price is slipping today
• 4 ASX shares that love rising interest rates: report

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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Thursday proved to be a good day for many shares on the market, with the S&P/ASX 200 Index (ASX: XJO) gaining 0.64% and the All Ordinaries Index (ASX: XAO) finishing 0.69% higher.

And while the S&P/ASX 200 Financials Index (ASX: XFJ) also finished in the green – having gained 0.13% – some of its constituents flopped to long forgotten lows.

Let’s take a look at 2 ASX 200 financial shares that tumbled to their lowest in more than 12 months.

These ASX 200 financial shares fell to 52-week lows today

Zip Co Ltd (ASX: Z1P)

The Zip share price plunged to yet another 52-week low on Thursday as multiple brokers posted bearish outlooks for the stock.

As The Motley Fool Australia reported today, UBS, Citi, and Macquarie are all warning the stock could slide.

While UBS slapped the ASX 200 company’s shares with a $1 price target and a ‘sell’ rating, Macquarie was slightly more optimistic, hitting it with a $1.85 price target.

Meanwhile, Citi analysts don’t believe the company’s acquisition of Sezzle Inc (ASX: SZL) will bring the extent of benefits the buy now, pay later (BNPL) providers predict.

The Zip share price fell to a low of $1.87 today. That’s 4% lower than where it closed Wednesday’s session.   

Pendal Group Ltd (ASX: PDL)

There’s been no such clear cut happening to explain the fall of the Pendal share price today.

The investment management company’s stock slumped 1.7% in intraday trade to reach a new 52-week low of $4.42. That’s 50% lower than the 52-week high it reached in September.

It’s been a rough few months on the market for the ASX 200 share.

Its stock tumbled 10% in mid-October when the company released a funds under management update, detailing a $2.3 billion outflow.

It slumped another 16% in January on the back of another funds under management update, noting a $6.8 billion outflow.

The post 2 ASX 200 financial shares that hit 52-week lows on Thursday appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• Why Coles, Dusk, Monadelphous, and Zip shares are dropping today
• Zip (ASX:Z1P) shares have tumbled 14% since the merger news. Top brokers offer possible reasons why
• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
• Why Domino’s, Magellan, PointsBet, and Zip shares are falling

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. 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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The A2 Milk Company Ltd (ASX: A2M) share price is falling today amid comments from the company regarding implications of the New South Wales flooding.

Recovery could take months, if not years, a spokesperson for A2 Milk told The Australian today.

At the time of writing, the A2 Milk share price is down 0.91% at $5.45. To compare, the wider All Ordinaries Index (ASX: XAO) is up 0.72%.

Let’s take a look at what the company said.

A2 Milk products impacted by Queensland flooding

Chances are, you’ve already heard and seen images of the flooding in NSW — deemed the worst the state has ever seen.

And while many residents are evacuating, A2 Milk’s four farm sources in Lismore are currently all underwater. Thankfully, a spokesman for the dairy company told The Australian that all four of its suppliers “reported they are all safe and stock has been accounted for”.

However, there are serious ramifications for the sites themselves. These include “flooded paddocks, severe pasture damage, and rising floodwaters, which have cut off roads in low-lying areas, restricting access for milk tankers”, the A2 spokesman said.

A2 also warned there could be delays collecting milk from farms. Cows are milked twice a day and if milk cannot be collected or stored, it goes to waste.

It all adds up to a long recovery process, according to the spokesman:

The clean-up process on pastures can take months, sometimes years, before cropping or grazing can resume … our farmers are an important part of the A2 Milk Company, and our farm services team will continue to provide support to our farming families during these challenging times.

A2 Milk share price snapshot

The A2 Milk share price has dropped by 42% in the last 12 months. It fell from a high of $9.68 a year ago to a low of $4.97 last month.

Despite today’s news, Bell Potter still considers A2 Milk as a buy, anticipating an earnings rebound.

The company has a market capitalisation of $4.09 billion, a last reported revenue of $1.2 billion, and a price-to-earnings ratio (P/E) of 218.

The post A2 Milk (ASX:A2M) share price slips amid ‘long-term implications’ of flooding appeared first on The Motley Fool Australia.

More reading

• Why this top broker rates these ASX shares as buys in March
• What’s next for the A2 Milk (ASX:A2M) share price?
• Why the A2 Milk (ASX:A2M) share price can climb 40%: broker
• Top brokers name 3 ASX shares to buy next week
• Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Alice de Bruin 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 A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The share price of robotics technology company, FBR Ltd (ASX: FBR) is surging on news of its flagship robot.

A new generation of the company’s bricklaying robot, Hadrian X is set to be industrialised and commercialised under a potentially transformational partnership.

At the time of writing, the FBR share price is 3.8 cents, 8.57% higher than its previous close.

Let’s take a closer look at what’s piqued the market’s interest in the robotics small-cap today.

FBR’s stock gains on the future of Hadrian X

The FBR share price is in the green after the company announced a memorandum of understanding with manufacturer and supplier of concrete systems, Liebherr-Mischtechnik.

Liebherr-Mischtechnik is part of the Liebherr International Group – one of the world’s largest construction equipment manufacturers.

Together, the companies will be working on bringing the next rendition of Hadrian X to the global construction market.

They will do so in 2 phases. First, FBR, with the help of Liebherr-Mischtechnik, will develop the next generation of the robot.

It will ensure it’s tough enough to live its life on job sites while still being cost-effective to manufacture.

Less than 2 years later, the companies will embark on phase 2.

That will see Liebherr-Mischtechnik appointed manufacturer of Hadrian X robots. It will also address intellectual property rights and commercialisation activities.  

During the life of the agreement, FBR will be free to manufacture its own Hadrian X prototype robots.

Commenting on the news driving the company’s share price today, FBR managing director and CEO, Mike Pivac said:

This memorandum of understanding demonstrates a clear pathway for FBR to achieve scale with the support of an aligned partner who understands the future construction industry landscape and has the technical capability, reputation, and professionalism to deliver 21st century machinery such as the Hadrian X to the world.

FBR share price snapshot

The FBR share price has had a rough start to this year.

It has fallen 11% year to date. It’s also 22% lower than it was this time last year.

The post Meet ‘Hadrian X’, the bricklaying robot sending the FBR share price 9% higher today appeared first on The Motley Fool Australia.

More reading

• The Strike Energy (ASX:STX) share price isn’t cooking with gas today. Here’s why
• Here are the 3 most heavily traded ASX 200 shares this Thursday
• Aussie coal is in hot demand, and these ASX coal shares are booming
• Heating up: Hot Chili (ASX:HCH) share price leaps 17% on new copper deal
• The Woodside (ASX:WPL) share price has smashed at least 8 52-week highs in the last month. What’s next?

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

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The Strike Energy Ltd (ASX: STX) share price isn’t going anywhere on Thursday after the energy producer requested a trading halt.

As such, the Strike Energy share price is frozen at 30 cents apiece. It’s worth noting that Strike Energy shares have gained 25% in value over the past month.

Why did Strike Energy request a trading halt?

Prior to the market opening, the company asked for the trading halt while it prepares an announcement.

According to the release, the company is planning to make an announcement regarding the South Erregulla 1 well drilling results.

Strike Energy has requested that the trading halt remain in place until Monday 7 March or following the release of the announcement, whichever comes first.

More on South Erregulla 1

Strike Energy holds a 100% interest in EP503. The gas project is located about 230 kilometres north-east of Perth in the North Perth Basin in Western Australia.

The area has significant resource potential in the Kingia Sandstones with a high chance of success. This is due to the strong data control over the Erregulla region, consistent geological outcomes, and recent identification of updip connectivity in the West Erregulla gas field.

Last month, the company drilled through the lower Carynginia Formation and the Irwin River Coal Measures.

Strike Energy bored a measured depth (MD) of approximately 4,859 meters at the site.

Through interpretation, management believes the target to be a short distance into the top of a higher quality sub-section in the Kingia Sandstone.

About the Strike Energy share price

Since this time last year, Strike Energy shares have moved sideways to register a loss of about 3%.

However, in 2022 the company’s shares have skyrocketed by 36% on the back of new strength and price gains in the global energy markets. The S&P/ASX 200 Energy (ASX: XEJ) sector is up 19% year to date.

Strike Energy has a market capitalisation of $607.53 million with approximately 2.02 billion shares outstanding.

The post The Strike Energy (ASX:STX) share price isn’t cooking with gas today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s why the Strike Energy (ASX:STX) share price has struck out this morning
• Here’s why the Strike Energy (ASX:STX) share price is edging lower today
• Here’s why the Strike Energy (ASX:STX) share price is 6% higher today

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

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The S&P/ASX 200 Index (ASX: XJO) is enjoying a day of relatively solid gains so far this Thursday. At the time of writing, the ASX 200 has risen by a healthy 0.67% at 7,164 points.

But let’s dig deeper and have a squiz at the company shares currently at the top of the ASX 200’s volume charts, according to investing.com.

These 3 ASX 200 shares are topping the volume charts on Thursday

Pilbara Minerals Ltd (ASX: PLS)

Our first ASX 200 share up today is the lithium producer Pilbara Minerals. So far, a hefty 18.32 million Pilbara shares have been exchanged on the markets this Thursday. There has been no major news or announcements out of the company today.

However, the movements of the Pilbara share price itself have been substantial. Pilbara shares are currently up a pleasing 4.63% at $2.94 a share, putting this company’s 5-day gain at 8.5%. It’s likely that it is this strong move upwards that is responsible for the elevated volumes we are seeing.

Telstra Corporation Ltd (ASX: TLS)

Telecom company Telstra is net up this Thursday. So far today, a sizeable 18.98 million of this company’s shares have found a new home on the markets. Again, there’s been no major news or announcements out of Telstra to speak of.

That’s apart from a routine share buyback notice that itself might explain why this ASX 200 share is experiencing such high volumes. The telco has lost 0.76% so far today after the company traded ex-dividend yesterday. Telstra has a relatively low share price compared to its size, so this always helps push the company to the top of the volume tables too.

Whitehaven Coal Ltd (ASX: WHC)

Last but certainly not least in terms of trading volumes today is the ASX 200 energy share Whitehaven. Whitehaven Coal has seen a whopping 26.6 million of its shares swap owners as it currently stands. This is almost certainly the result of the notable share price appreciation we have witnessed over the trading day thus far.

Whitehaven shares are presently up a very impressive 9.92% at $3.94 each after the company hit a new 52-week high earlier this morning. It’s this combination that we can probably thank for Whitehaven’s pole position today.

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

More reading

• Aussie coal is in hot demand, and these ASX coal shares are booming
• Why IGO, Lake Resources, Talga, and Whitehaven Coal shares are charging higher
• Are ASX green energy shares losing their appeal amid rising oil and gas prices?
• Battle for 5G: here’s why Telstra (ASX:TLS) is ruffling feathers of its rival
• Why is everyone suddenly talking about Whitehaven Coal (ASX:WHC) shares?

Motley Fool contributor Sebastian Bowen owns Telstra Corporation 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 owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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