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The S&P/ASX 300 Index (ASX: XKO) is advancing today, adding on Thursday’s 0.57% and Friday’s 0.69% gain.

At the time of writing, the ASX 300 is up 0.24% to 7,387.1 points. It’s worth noting that in the past month, the index has mostly recovered from its 3.5% loss.

Here are some of the top movers on the ASX 300 today.

Paladin Energy Ltd (ASX: PDN)

The Paladin share price is on the move, up 8.64% to 88 cents despite no new company announcements.

The uranium company’s shares are continuing to accelerate following positive investor sentiment in the sector. This has led to fellow peers such as Boss Energy Ltd (ASX: BOE) and 92 Energy Ltd (ASX: 92E) also punching higher.

A strong uptick in oil and gas prices has led nuclear energy as a possible solution as a secure, emission-free power source.

The spot price for uranium has soared over 60% in a year, reaching US$47.20/lb at the time of writing.

Vulcan Energy Resources Ltd (ASX: VUL)

Following suit is the Vulcan share price, up 8.56% to $12.55.

The clean-lithium developer released an announcement in regards to a new binding offtake agreement with leading materials technology company, Umicore.

Under the deal, Umicore will purchase up to 42,000 tonnes of battery-grade lithium hydroxide from Vulcan over a 5-year term. Pricing for the key ingredient will be based on market prices on a take-or-pay basis.

Zimplats Holdings Ltd (ASX: ZIM)

Making headlines again is the Zimplats share price, up 7.48% to $23.84.

The mining company hasn’t provided the market with any new information in the past few weeks.

A possible catalyst for the upward trend could be the improvement in platinum prices over the past few weeks.

And the ASX shares in decline?

HomeCo Daily Needs REIT (ASX: HDN)

Heading south is the HomeCo Daily Needs share price, down a hefty 7.79% to $1.48.

The property company’s shares are in reverse after announcing plans to merge with Aventus Group (ASX: AVN).

The takeover will see Aventus shareholders receive 2.2 HomeCo Daily Needs shares for every Aventus share owned. In addition, shareholders will also receive either $0.285 cash or 0.038 Home Consortium Ltd (ASX: HMC) shares.

Should the merger be approved by Aventus shareholders and other customary conditions, the implementation date will be in mid-February 2022.

Sezzle Inc (ASX: SZL)

Also running at a loss is the Sezzle share price, down 5.46% to $5.89.

Investors have sold off the buy-now-pay-later (BNPL) company’s shares after registering a 20% gain just 2 weeks ago.

Earlier this month, United States retail giant Target announced the launch of a BNPL offering in partnership with Sezzle. This service will be used to attract customers with affordable payment solutions.

Target is the eighth largest retailer in the United States and has a network of more than 1,909 stores.

The post Which ASX 300 shares are leading the way on Monday? appeared first on The Motley Fool Australia.

More reading

• Why MyDeal, Senex, Superloop, and Vulcan shares are surging higher
• Why ASX uranium shares are rallying on Monday
• Aventus (ASX:AVN) share price shoots 9% higher on HomeCo merger plans
• Why the Vulcan (ASX:VUL) share price is jumping 11% on Monday
• Which ASX 300 shares are the major movers on Thursday?

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 high flying share price of Hazer Group Ltd (ASX: HZR) is pushing upwards on Monday. Shares in the hydrogen production company are front and centre today after the release of its quarterly activities report.

At the time of writing, the Hazer share price is fetching $1.45, up 3.93%. This boost puts the company’s year-to-date performance at 82%.

This brings us to the information contained in Hazer’s report for the quarter ending 30 September 2021. It was a busy time for the ASX-listed small cap. So, let’s delve into what occurred during Q1 FY22.

Hazer share price lifts on progress

Investors are displaying optimism following Hazer’s update, as the daily share volume surpasses the average amount traded. Presently, more than 1.7 million shares have swapped hands during Monday’s session.

Today’s report shares Hazer’s progress on its Commercial Demonstration Project (CDP), under development at the Woodman Point waste-water treatment facility. Following the commencement of site works in March this year, the company has completed site civil preparation and civil construction works.

The project is moving forward to the mechanical, instrument, and electrical works. However, Hazer has revised the project schedule due to delays caused by supply issues for specialist high-temperature materials. As a result, the commissioning of the project will move to the first quarter of the 2022 calendar year.

A quick recap, the CDP is a low-emission hydrogen production facility that is expected to produce 100 tonne per annum. The biogas generated by the treatment plant will be used as feedstock to produce hydrogen and graphite. Given the recent trend in hydrogen power, this development by Hazer has helped push its share price higher.

At this stage, Hazer is forecasting a final cost of $21 million to $22 million for the sizeable engineering project. Although, the company noted that it continues to see cost pressures across materials, equipment, labour, and freight.

Capitalising on the booming interest, Hazer is progressing an engineering study with Chiyoda Corporation which will feed into the concept study for a Hazer plant capable of 2,500 tonne per annum. Furthermore, the company will use this study to advance discussions with potential collaborators across Japan, Europe, Asia, North America, and more.

What’s the cash position of Hazer Group?

At the end of the quarter, the company maintained $27.3 million in cash and cash equivalents. Part of this stash is $5.4 million in grant proceeds from the Australian Renewable Energy Agency (ARENA). Hazer managed to fulfil the milestone conditions to unlock $1.77 million of this capital.

Regarding cash flow, net operating cash outflows of $1.44 million were recorded during the quarter. Meanwhile, net cash inflows from financing activities amounted to $8.67 million – $7 million of which came from the issue of new shares.

Lastly, based on the current Hazer share price, the company commands a market capitalisation of $231 million.

The post Why the Hazer (ASX:HZR) share price is lifting today appeared first on The Motley Fool Australia.

More reading

• How fast is green hydrogen growing and which ASX shares could benefit?
• Here’s why ASX hydrogen shares are leaping higher today
• Why are ASX hydrogen shares in the spotlight on Monday?

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

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The S&P/ASX 200 Index (ASX: XJO) is having a good, albeit bumpy, start to the trading week this Monday. At the time of writing, the ASX 200 is up 0.18% to 7,375.6 points after an initial stumble into negative territory soon after open this morning.

But one ASX share isn’t sharing in this positive sentiment today. That would be the WAM Capital Ltd (ASX: WAM) share price.

WAM shares are currently down a nasty 4.58% from Friday’s close to $2.29 a share, at the time of writing. That’s a pretty steep fall for a Listed Investment Company (LIC) not known for its volatility.

So what’s going on with WAM Capital, one of the ASX’s largest LICs, today?

WAM gets an ASX whamming

Well, there has been some movement at the station for WAM today. This morning, Wilson Asset Management (the WAM in WAM Capital) sent shareholders a notice that this LIC has “acquired all the issued capital of an unlisted investment company with net assets of approximately $36.3 million”. No further details were given about this “unlisted investment company”.

This acquisition has been paid for with new WAM Capital shares. The LIC released an ASX notice this morning confirming that 16,678,217 additional shares have been issued.

But $36.3 million is little more than a drop in the ocean for a company with a market capitalisation north of $2 billion.

Don’t worry, it’s probably just a dividend…

Instead, the real culprit for today’s steep drop is likely to be WAM Capital’s upcoming ASX dividend. Yes, WAM shares have today traded ex-dividend for the LIC’s upcoming final dividend payment. WAM Capital will be shelling out 7.75 cents per share, fully franked, on 29 October. But only shareholders who held WAM shares before today will be eligible to receive this payout.

As such, the rough value of this dividend has been drawn out from the WAM Capital share price today, since new shareholders won’t enjoy this benefit. It’s probably the best reason there is to have one of your shares fall in value.

Yes, a ~4% drop is a large one for WAM Capital. But it does reflect the large value of this upcoming payment. On Friday’s closing share price, 7.75 cents per share equates to a yield of 3.14% (or 6.49% annualised). With the value of this LIC’s full franking, these yields gross-up to 4.49% and 9.27% respectively. With such a hefty dividend payment going out the door, it’s no surprise that we see a big drop in the value of WAM Capital shares today.

At WAM Capital’s current share price of $2.29, this ASX LIC has a market capitalisation of $2.02 billion and a dividend yield of 6.74%.

The post Why is the WAM Capital (ASX:WAM) share price sliding 4% today? appeared first on The Motley Fool Australia.

More reading

• 2 gold ASX shares experts are loving right now
• ASX 200 (ASX:XJO) midday update: Aristocrat’s $5bn acquisition, Zip falls on Q1 update
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.2% to 7,375.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are surging higher:

Mydeal.Com Au Ltd (ASX: MYD)

The MyDeal share price has jumped over 10% to 81.5 cents. Investors have been fighting to get hold of the ecommerce company’s shares after it delivered a very strong first quarter update. MyDeal reported record quarterly gross sales of $68.5 million, up 49% quarter-on-quarter and 22.6% year on year. Key drivers of this growth were a 38.8% increase in active customers to 929,461 and high levels of returning customers.

Senex Energy Ltd (ASX: SXY)

The Senex share price is up 15% to $4.38. This morning the energy company revealed that Korean giant POSCO has tabled a $4.40 per share takeover approach. Due diligence has been granted to provide POSCO with additional time to assess a further revised proposal at a price higher than $4.40 per share.

Superloop Ltd (ASX: SLC)

The Superloop share price has rocketed 20% higher to $1.16. This follows news that the telco is selling its Hong Kong operations, as well as select Singapore assets for $140 million. According to the release, Superloop has entered a binding agreement with funds affiliated with Columbia Capital and DigitalBridge Investment Management. The release notes that the sale price is a 30% premium above the assets’ current carrying value.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price has jumped 10% to $12.72. Investors have been buying the lithium developer’s shares after it announced a new binding offtake agreement. According to the release, Vulcan has signed a binding lithium hydroxide offtake agreement with Umicore. It is a leader in cathode materials production used in lithium-ion batteries for electrified transportation. The deal is for five years from 2025 and for a total of 28,000 tonnes to 42,000 tonnes of battery grade lithium hydroxide.

The post Why MyDeal, Senex, Superloop, and Vulcan shares are surging higher appeared first on The Motley Fool Australia.

More reading

• Superloop (ASX:SLC) share price soars 21% following asset sale
• Senex (ASX:SXY) share price jumps 16% to multi-year high amid takeover talks
• MyDeal (ASX:MYD) share price jumps 11% on record first quarter update
• Why the Vulcan (ASX:VUL) share price is jumping 11% on Monday
• Why the Vulcan (ASX:VUL) share price is in a trading halt

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 shares of and has recommended SUPERLOOP 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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It’s been a big month for the Webjet Limited (ASX: WEB) share price despite no news having been released by the company. However, the travel sector has had several recent victories.

At the time of writing, the Webjet share price is $6.50, 1.09% higher than its previous close and 11.5% higher than it was this time last month.

So, what exactly has sent Webjet’s stock soaring? Let’s take a look.

What’s driving the Webjet share price lately?

The Webjet share price has had 3 days of excellent trade over the past month, each seemingly spurred by outside influences.

The first was on 23 September when the Webjet share price surged 5.5% higher.

That same day, the United States government announced its plan to scrap travel restrictions for arrivals from 33 countries. The catch is, of course, international travellers arriving in the United States must be fully inoculated against COVID-19.

The next time Webjet’s shares recorded a notable gain came just days later. The company’s stock lifted 5.2% on 27 September.

That was also the first ASX trading day after Prime Minister Scott Morrison announced Australia’s international borders should reopen before Christmas.

 Finally, Webjet’s third-best session of the last 30 days was its most recent.

On Friday, the Webjet share price soared 4% higher after New South Wales Premier Dom Perrottet announced the state will soon scrap quarantine for vaccinated international arrivals.

The initial idea was the state would become Australia’s tourism mecca. That is, until other states catch up with its vaccination rate. Currently, 80.8% of those eligible to receive a COVID-19 vaccine in New South Wales have had both doses. That vaccination rate is only bested by the ACT.

However, Morrison soon overruled Perrottet’s plans. He announced the federal government would only be allowing Australian citizens and residents into the country for the time being.

The post Why has the Webjet (ASX:WEB) share price taken off 11% in the past month? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• These 2 ASX shares have been named as good opportunities
• ASX travel shares on watch as US border reopens
• Here’s why the Webjet (ASX:WEB) share price is lifting 4% on Friday
• Top broker sees 15% upside in the Webjet (ASX:WEB) share price

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 shares of and has recommended Webjet 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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While most Australians are sleeping tonight, the United States Securities and Exchange Commission (SEC) could greenlight the first US Bitcoin (CRYPTO: BTC) exchange traded fund (ETF).

As Bloomberg reports, people familiar with the matter, who wished to remain anonymous, said, “The regulator isn’t likely to block the products from starting to trade…”

And this could happen as early as Monday, US time.

To be clear, unlike Bitcoin ETFs already trading on Canada’s Toronto Stock Exchange and several European exchanges, the first US ETFs will be futures based.

Why a futures based US Bitcoin ETF?

Unlike direct Bitcoin ETFs intended to track the spot price, the futures ETFs aim to track the Bitcoin price via futures contracts supervised by the Chicago Mercantile Exchange. That, as we’ll look at below, means the ETF price may not always move directly in line with the real time price movements.

The SEC has previously ruled against authorising direct Bitcoin ETFs, with concerns ranging from the digital token’s notorious volatility, potential liquidity issues, and fears over fraud.

But, as Bloomberg notes:

The proposals by ProShares and Invesco Ltd. are based on futures contracts and were filed under mutual fund rules that SEC Chairman Gary Gensler has said provide “significant investor protections”.

ProShares looks set to be first out of the gate, potentially trading on US markets on Monday (overnight Aussie time).

ProShares and Invesco may also be joined on US exchanges by offerings from VanEck and Valkyrie. Meaning investors could have as many as 4 US-listed Bitcoin ETFs to choose from by the end of October.

Exposure with an element of trust

When it comes to whether to invest in Bitcoin ETFs versus buying the actual token itself, there are a number of factors to consider.

Among the positive factors for choosing the ETF, is trust. There have been many stories about investors losing their Bitcoin when crypto exchanges are hacked. Or others where investors forget their digital keys and lose access to their holdings forever.

According to Eric Balchunas, ETF analyst for Bloomberg Intelligence, “There’s an amount of trust and confidence people have in an SEC-regulated fund structure that trades like an equity.”

Then there are investors who are uncomfortable with some of the technological aspects of actually buying and selling Bitcoin. They may not understand what a digital wallet is, much less how one works.

Nate Geraci, president of the ETF Store, adds that an element of simplicity, particularly surrounding taxes, adds appeal to Bitcoin ETFs:

If I’m an investor and I have a Charles Schwab account or Fidelity account, I may want all of my holdings under one roof. I may want tax reporting and performance reporting all in one place versus having that at another broker.

Geraci did advise investors be patient, adding, “Maybe it’s best to give it some time. I don’t anticipate any issues with Bitcoin futures ETFs, but investors have waited since 2013 for these products to come to market. What’s waiting a few more days to ensure everything is functioning properly?”

The case against the futures based Bitcoin ETF

Having looked at the pros, here are some of the cons the experts are concerned about when it comes to the pending US Bitcoin ETFs.

Firstly, costs.

While a 1% annual fund management fee may seem small, these costs do add up. Particularly over time, when that 1% per year is no longer compounding for year over time.

According to Bloomberg Intelligence analysts Eric Balchunas and James Seyffart, “Traders may use the new Bitcoin ETFs, but we expect their appeal to longer-term investors and advisers to be more muted because of the costs to roll futures.”

Then there’s the added complexity of trading futures, whether they be soy, crude oil, or cryptos.

“Since Bitcoin itself is very liquid, I think individual investors should stick with that when they first start trading. Leave the futures to the sophisticated institutional investor for now,” said Matt Maley, chief market strategist for Miller Tabak + Co.

Maley also echoed Geraci’s advice on patience, saying, “It’s always good to see how any new asset trades before diving in. Given the recent rally in Bitcoin, we could get a ‘sell the news’ reaction for a little while when a Bitcoin ETF launches.”

Finally, while the idea behind the ETF is that SEC regulation should make it less risky, Sylvia Jablonski, chief investment officer for Defiance ETFs, disagrees. “Futures have some risk too. There is a risk that you’re not really getting the best tracking of Bitcoin,” she said.

Proceed with caution – Bitcoin volatility snapshot

Whether it’s a Bitcoin ETF or actual Bitcoin, don’t lose sight of the often wild price moves of the token.

At time of writing Bitcoin is trading for US$61,389 (AU$82,958). That’s up 2% over the past 24 hours and up 12% over the past 7 days.

While those gains sound attractive, and they are, it’s worth having a look back at the highs and lows just over the past 6 months.

On 14 April Bitcoin reached its all-time high of US$64,863. At the time many punters expected the token to keep rising all the way to US$100,000…or beyond.

Instead, it went the other way.

By 20 July the Bitcoin price had tanked to US$29,807. A loss of 56% for any investors buying at the highs and selling at the lows.

So, what’s next for the Bitcoin price and Bitcoin ETFs?

Tune back in 6 months and I’ll let you know!

The post Here are the pros and cons of investing in the pending US Bitcoin ETFs appeared first on The Motley Fool Australia.

More reading

• Why Bitcoin miners are flocking to the US and what this could mean for Australia
• Bitcoin price to US$500,000? Why ARK’s Cathie Woods is doubling down
• ASX set to welcome first cryptocurrency ETF… but there’s a catch
• What happened to the Bitcoin price in the FY22 first quarter?
• Are NFTs a bubble awaiting a pin or the next big investment theme?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of 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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Earlier this month, we covered one of the ASX’s newest exchange-traded funds (ETFs). The ETFS Hydrogen ETF (ASX: HGEN) debuted on 7 October and caused quite a stir… for its lack of dramatic flair. By this ETF’s first afternoon on the ASX boards, it had delivered a unit price rise of 0.3%.

But today, it’s time to check back in on this new ETF. It has certainly gained some distance from its first day of trading.

Just as a recap, the ETFS Hydrogen ETF invests in a portfolio of global companies (around 30) that centre on the emerging ‘hydrogen economy’. These companies mostly hail from the United Kingdom, the United States, and South Korea (amongst others).

Some of its largest holdings include Plug Power Inc (NASDAQ: PLUG), Ballard Power Systems Inc (NASDAQ: BLDP), and ITM Power plc (LON: ITM). These come from the Solactive Global Hydrogen ESG Index that HGEN tracks. 

So, how exactly has this exciting new ETF performed since its 7 October ASX float?

ASX hydrogen ETF powers higher

Well, this ETF’s first pricing quotes on the ASX started at around $10.09 per unit back on 7 October. Today, ETFS Hydrogen ETF units are currently (at the time of writing) being priced at $11.28. That’s an increase of 11.8% over what has been little more than a fortnight. Not bad, one could say.

But that’s not where the story ends. This ETFS Hydrogen ETF had quite a dramatic week last week too. On Thursday morning, the ETF spiked from the previous day’s close of $10.94 a unit to a new high of $$12.25 at market open. That unit price is more than 21% above the initial October pricing.

Although HGEN units are now almost 8% below that high watermark at today’s pricing, it’s still worthwhile pointing out that investors enjoyed a near-18% bump in just 2 days.

The ETFS Hyfdrogen ETF charges a management fee of 0.69% per annum.

The post The Hydrogen ETF (ASX:HGEN) share price jumped 18% last week appeared first on The Motley Fool Australia.

More reading

• The ETFS Hydrogen ETF (ASX:HGEN) just debuted on the ASX. How is it going?
• Want to buy ASX shares in hydrogen? Here’s how

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 South32 Ltd (ASX: MHK) share price is taking off today despite no price sensitive news having been released by the company.

However, South32 is conducting its sustainability briefing later this afternoon. In anticipation of the virtual briefing, the company released the accompanying presentation to the market this morning.

While it’s unlikely the presentation has impacted the mining company’s stock, the South32 share price is performing brilliantly on the ASX today.

At the time of writing, the South 32 share price is $3.99, 4.58% higher than its previous close.

That’s a better performance than that of the broader market. Right now, the S&P/ASX 200 Index (ASX: XJO) and the the All Ordinaries Index (ASX: XAO) have gained 0.19% and 0.16% respectively.

Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) is 0.42% higher.

Let’s take a look at the diversified mining and metals company’s latest sustainability presentation.

South32’s sustainability presentation

The South32 share price is in the green amid the release of the company’s plan to be more environmentally and socially sustainable.

The company is reshaping its portfolio to take advantage of the low carbon future. It’s increasing its exposure to base and precious metals, aluminium, and manganese.

Additionally, South32 is planning to halve its operational carbon emissions by 2035 compared to its financial year 2021 baseline.

However, the majority of South32’s carbon emissions come from 4 of its operations: Hillside Aluminium, Mozal Aluminium, Worsley Alumina, and Illawarra Metallurgical Coal.

Between now and 2035, the company plans to secure green energy to run Hillside Aluminium, convert Worsley Alumina from coal-fired power to natural gas, and extend Mozel Aluminium’s current hydropower contract.

By 2050, South32 plans to be net-zero. To get there, each of the above operations will be run on renewable energy.

Additionally, the company states it’s continuing to assess a scope 3 target for Illawarra Metallurgical Coal. Scope 3 emissions are those created because of a company’s business but not by the company itself. An example is the burning of metallurgical coal produced at Illawarra.

To better its social sustainability, South32 conducted 5 human rights impact assessments in 3 countries during financial year 2021.

It also updated its vetting processes for risks to seafarers and provided monetary and in-kind support during periods of COVID-19 impacts and screened 5,354 suppliers for modern slavery risks, completing 14 independent audits.

Finally, South32 invested US$22.2 million into communities in financial year 2021 and improved its approach to cultural heritage. It also plans to further improve its cultural heritage sensitivity over the current financial year.

 South32 share price snapshot

This year has been good to the South32 share price.

It has gained 61% since the start of 2021. It is also 89% higher than it was this time last year.

The post Why is the South32 (ASX:S32) share price lifting on Monday? appeared first on The Motley Fool Australia.

More reading

• 2 excellent dividend shares that analysts love
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• These 3 ASX 200 shares are topping the volume charts this Thursday
• ASX 200 (ASX:XJO) midday update: HUB24 & Netwealth impress, A2 Milk surges again
• Why the South32 (ASX:S32) share price is jumping 11% to a multi-year high

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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ASX uranium shares are posting broad-based gains as the bullish case for nuclear energy gathers momentum.

ASX uranium shares surge on Monday

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN) is up 8.64% to 88 cents.

Emerging producer Boss Energy Ltd (ASX: BOE) leads the charge, up 9.26% to 29.5 cents.

Advanced Namibia-based explorer Deep Yellow Limited (ASX: DYL) is lagging behind its peers, up 1.9% to $1.07.

The most recently listed uranium explorer, 92 Energy Ltd (ASX: 92E) is also edging higher, up 6.9% to 77.5 cents.

Elsewhere, speculative explorers such as Bannerman Energy Ltd (ASX: BMN), Lotus Resources Ltd (ASX: LOT), Vimy Resources Ltd (ASX: VMY), Peninsula Energy Ltd (ASX: PEN) and Alligator Energy Ltd (ASX: AGE) are posting mixed gains, up between 2.8% and 14.5%.

What’s driving the uranium sector?

Surging oil and gas prices and an over-reliance on renewables is positioning nuclear energy as a possible solution that also generates no carbon emissions.

The market has arguably undervalued the potential of nuclear energy following the 2011 Fukushima nuclear disaster. That nuclear accident drove negative sentiment towards the industry and made governments reluctant to subsidise power plants.

Only in the last few months have governments around the world begun realising the role that nuclear power could play in secure, emission-free power generation.

This has helped uranium prices rally from around US$28/lb to a 9-year high of US$50/lb in mid-September. As well as a sharp re-rate across ASX uranium shares.

According to the Australian Financial Review, Japan’s new prime minister, Fumio Kishida, last week said that he wants to restart nuclear reactors, to tackle both energy prices and climate change.

Industry minister Koichi Hagiuda described nuclear power as “indispensable, when we think about how we can ensure a stable and affordable electricity supply while addressing climate change.”

The United Kingdom is another country looking to nuclear as a win-win solution for consumers and the environment.

A Financial Times report suggests that the UK government will release the details of its decarbonisation plan and funding model early this week.

“UK ministers will put nuclear power at the heart of Britain’s strategy to reach net-zero carbon emissions by 2050 in government documents,” it reported.

The improved sentiment towards nuclear energy has helped drive substantial gains across depressed ASX uranium shares, most of which have more than doubled year to date.

The post Why ASX uranium shares are rallying on Monday appeared first on The Motley Fool Australia.

More reading

• ASX uranium shares are surging this week. Here’s why
• Which ASX 300 shares are leading the way mid-week?
• Here’s why ASX uranium shares are booming double digits across the board on Wednesday
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Motley Fool contributor Kerry Sun 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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At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share despite its short interest falling week on week to 10.2%. Short sellers aren’t giving up on this one despite the outlook for the travel market improving greatly in recent weeks.
• Webjet Limited (ASX: WEB) has short interest of 9.3%, which is up slightly week on week. Once again, although the travel market outlook is improving greatly, short sellers are holding firm with their bearish views.
• Kogan.com Ltd (ASX: KGN) has short interest of 9.2%, which down week on week. Investors appear concerned with this ecommerce company’s inventory position and global supply chain issues.
• Mesoblast limited (ASX: MSB) has seen its short interest rise week on week to 9%. Short sellers appear to be targeting this biotech company due to balance sheet concerns.
• Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.7% of its shares held short, which is up slightly week on week. This defence and space company’s shares are under fire from short sellers due to accounting and cash generation concerns.
• Zip Co Ltd (ASX: Z1P) has seen its short interest ease again to 8.7%. This morning Zip released its first quarter update and revealed another record quarterly performance. Fortunately for short sellers, its shares are falling despite this.
• Redbubble Ltd (ASX: RBL) is has seen its short interest rise again to 8.4%. Short sellers will have been celebrating last week after a disappointing quarterly update led to this ecommerce company’s shares crashing lower.
• Inghams Group Ltd (ASX: ING) has 8.2% of its shares held short, which is up week on week. This may be due to concerns that high grain costs could be squeezing the poultry producer’s margins.
• Cooper Energy Ltd (ASX: COE) has 7.4% of its shares held short, which is down week on week. Short sellers have been targeting the energy producer due to issues at its Project Sole operation.
• Tassal Group Limited (ASX: TGR) has short interest of 7.1%, which is up slightly week on week. Short sellers aren’t giving up on the salmon producer despite a recent improvement in global salmon prices.

The post These are the 10 most shorted ASX shares 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. owns shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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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