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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has rebounded from a poor start and is charging higher. The benchmark index is currently up 0.4% to 7,301.3 points.

Here’s what is happening on the ASX 200 on Wednesday:

ASX 200 boosted by Evergrande bond repayment

The ASX 200 has responded very positively to news that embattled Chinese property company Evergrande will stave off defaulting, at least for now, by making a bond repayment. According to the AFR, the company’s key Hengda Real Estate Group business has said that it will make a bond interest payment on September 23.

Westpac asset sale terminated

The Westpac Banking Corp (ASX: WBC) share price is trading lower today after the sale of its Pacific businesses collapsed. According to the release, Westpac and Kina Securities Ltd (ASX: KSL) have mutually agreed to terminate the ~$420 million transaction after Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) blocked the proposed sale of Westpac Bank PNG last week.

Zip makes Indian BNPL investment

The Zip Co Ltd (ASX: Z1P) share price is pushing higher today after it announced a major investment. According to the release, the company has agreed to make a strategic US$50 million investment in India-based BNPL operator ZestMoney. The Indian BNPL provider was founded in 2015 and is now one of the largest and fastest growing BNPL platforms in India. It has 11 million registered users, over 10,000 online merchants on the platform, and a point of presence in over 75,000 physical stores.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Champion Iron Ltd (ASX: CIA) share price with a 6% gain. This morning Citi upgraded the iron ore producer’s shares to a buy rating with a $6.40 price target. The worst performer on the ASX 200 has been the AusNet Services Ltd (ASX: AST) share price with a 4.5% decline. This appears to have been caused by uncertainty over the takeover battle for the electricity distributor.

The post ASX 200 (ASX:XJO) midday update: Evergrande news boosts market, Zip’s Indian investment appeared first on The Motley Fool Australia.

More reading

• AusNet (ASX:AST) share price down 5% amid takeover battle uncertainty
• Zip (ASX:Z1P) share price higher on India BNPL investment news
• The Zip (ASX:Z1P) share price is down 10% in a week. Here’s why
• Westpac (ASX:WBC) share price on watch after asset sale terminated
• 3 beaten-up ASX shares that are exciting us: experts

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of 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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Investors in the Vanguard MSCI Index International Shares ETF (ASX: VGS) have something to cheer about in 2021.

Despite only being up a measly 0.12% today, at the time of writing to $100.93, the VGS share price has had a phenomenal 2021. Since the beginning of the year, shares in the popular exchange-traded fund (ETF) have appreciated 20.2%. For context, the S&P/ASX 200 Index (ASX: XJO) is up 8.74% since 1 January. In other words, VGS has more than doubled the gains of the benchmark index.

Let’s take a closer look at the ETF.

What is VGS invested in?

As The Motley Fool has previously reported, VGS is invested in over 1500 shares, none of which are listed on the ASX.

These 5 companies, all listed on NASDAQ, individually account for more than 1% of the fund’s total:

• Apple Inc (NASDAQ: AAPL)
• Microsoft Corporation (NASDAQ: MSFT)
• Amazon.com, Inc. (NASDAQ: AMZN)
• Facebook, Inc. (NASDAQ: FB)
• Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)

Other notable companies the ETF is invested in include Tesla Inc (NASDAQ: TSLA), Pfizer Inc. (NYSE: PFE), PayPal Holdings Inc (NASDAQ: PYPL) and Visa Inc (NYSE: V).

Whatever shares the fund is invested in, it’s clearly doing wonders for shareholders in its ASX-traded ETF.

What are the professionals saying about ASX VGS?

The Motley Fool’s own Scott Phillips says VGS can be a good starting point for ASX investors. Buying into the fund gives investors instant access to 1505 of the biggest companies outside of Australia. Vanguard also offers an ASX alternative, the Vanguard Australian Shares Index ETF (ASX: VAS). This gives investors access to the 300 largest companies on the ASX.

Another reason Vanguard may be attractive to investors is its low rates. With a management fee of just 0.18%, it’s a lot lower than a lot of other managed funds.

The post The Vanguard MSCI Index International Shares ETF (ASX:VGS) has more than doubled the ASX 200’s returns in 2021 appeared first on The Motley Fool Australia.

More reading

• Own the Vanguard MSCI Index International Shares ETF (ASX:VGS)? Here’s what you’re invested in
• 3 top quality ETFs for ASX investors
• 2 ETFs for strong diversification in September 2021
• 3 ETFs for ASX investors in September
• Want to invest, but not sure where to start?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Marc Sidarous 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 Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, PayPal Holdings, Tesla, Vanguard MSCI Index International Shares ETF, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, PayPal Holdings, and Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Anson Resources Ltd (ASX: ASN) share price has been plummeting over the last 7 days.

The company has released several announcements to the ASX in that time, detailing free offers, positive assay results, and its approach to environmental, social, and governance (ESG) issues.

However, the updates haven’t been enough to boost the company’s stock out of its slump.

Since this time last week, the company’s shares have fallen 16.3% to trade at 9.2 cents.

Let’s take a look at what Anson Resources has been up to over the course of this week.

What’s Anson been up to this last week?

The Anson Resources share price has been struggling over the last week despite releasing 3 seemingly positive updates.

First, the company provided more details on its previously proposed bond offer. Under the offer, shareholders in the company will receive 1 bonus offer for every 10 shares they hold.

The freebie was announced last Tuesday as part of a $7.35 million placement. Though, its prospectus was released after Friday’s close.

Under the prospectus, the free offer will have an exercise price of 9.1 cents and will expire on 29 October 2021.

For each option exercised, shareholders will receive another free option with an exercise price of 20 cents and an expiry date of 31 July 2023.

On Monday – the first time the market could react to the prospectus – the Anson share price fell 6.3%.

Then, on Tuesday, Anson announced assay results from stage 2 of exploration at its Yellow Cat Project. The assay results included:

• up to 10.33% triuranium octoxide – a compound of uranium – and 25.61% vanadium oxide.

The Anson share price gained back 3.3% on the back of the assay results.

Today, it managed to recover from a poor start to trade. At the time of writing, the Anson share price is flat with its previous closing price.

This morning the company released a non-price sensitive investor presentation on its approach to ESG issues.

Anson’s approach to ESG issues sees it adopting sustainable technologies, avoiding disturbing natural or historical environments, and employing local people.

Anson share price snapshot

Despite its recent slip, the Anson share price is currently 200% higher than it was at the start of 2021.

It has also gained 350% since this time last year.

The post Why is the Anson resources (ASX:ASN) share price down 16% in a week? appeared first on The Motley Fool Australia.

More reading

• Why is the Anson Resources (ASX:ASN) share price halted?
• Anson (ASX:ASN) share price leaps 19% on Novonix test results

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 GWR Group Ltd (ASX: GWR) share price has plummeted 21% during early trade on Wednesday and now trades at 11 cents each.

GWR shares are trending down after the company announced a key update regarding the future of its mining operations.

Let’s take a closer look.

What did GWR announce?

GWR advised that it had “shipped approximately 660,000 tonnes of ore since February 2021” upon completion of its September consignment.

However, it also added it had “halted mining operations at the C4 Iron Ore Mine for 30 days” whilst it “monitors” volatility in iron ore markets.

The decision was made due to a rapid downturn in iron ore prices since July.

For reference, the spot price of iron ore has come off a record high of US$230/tonne in May.

It settled around US$226/tonne from June to July and now trades at US$104.50/tonne. That’s a 54% decrease in a matter of weeks.

Given GWR’s position as an ASX resource share that produces commodities – in this case, iron ore – it is considered a price taker. As such, its share price fluctuates alongside volatility in the broader commodity markets.

This fact appears to be weighing in on GWR Group’s share price as investors sell off shares in the metals’ exploration and mining company to avoid “catching the falling knife” if iron ore continues to plummet.

GWR also holds a “significant inventory of mined iron ore stockpiles”. As such, it is “considering its position in regard to recommencing operations” and “may resume mining or pivot its focus as required”.

What did management say?

Commenting on the announcement, GWR’s chairperson Gary Lyons said:

Whilst it is disappointing that mining operations have temporarily ceased at the C4 Iron Ore Mine, it is important to note GWR remains in a strong positon to resume operations as the mine will be left in a production ready state in order to take advantage of a recovery in iron ore prices.

Lyons added:

GWR is currently engaged with other iron ore producers who have expressed interest in accessing via minegate sale the mined high grade ore in order to blend it with their product.

GWR Resources share price snapshot

The GWR Resources share price has struggled this year and has posted a loss of 74% this year to date. This extends its loss over the past 12 months to 41%.

Its price now sits well off its single-year high of 45 cents. Indeed, today sets a new 52-week low for the mining exploration company.

Both of GWR’s results are well behind the benchmark S&P/ASX 200 Index (ASX: XJO)’s return of around 25% over the past year.

The post GWR Group (ASX:GWR) share price plunges 21% on iron ore update appeared first on The Motley Fool Australia.

More reading

• AusNet (ASX:AST) share price down 5% amid takeover battle uncertainty
• Why the Genesis Minerals (ASX:GMD) share price is rocketing 160% today
• 2 ASX shares to potentially buy in this volatility
• Woodside (ASX:WPL) share price rallies 3% as oil weighs in on Evergrande collapse
• South32 (ASX:S32) share price edges higher after plan to restart Brazil plant

The author Zach Bristow has no positions 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 AusNet Services Ltd (ASX: AST) share price looks set to end its positive run on Wednesday.

In late morning trade, the electricity distributor’s shares are down 5% to $2.46.

However, the AusNet share price is still up almost 24% since this time last week.

What’s happening with the AusNet share price?

Investors have been bidding the AusNet share price higher this week after it received two takeover approaches.

On Monday Brookfield Asset Management made a non-binding offer to acquire the company for $2.50 per share. In response to this, AusNet decided to provide Brookfield with the opportunity to conduct exclusive due diligence for a period of eight weeks.

The latter was a blow for rival electricity distributor APA Group (ASX: APA), which tabled an even better offer of $2.60 per share in cash and shares on Tuesday. However, due to the period of exclusivity granted to Brookfield, the AusNet board will not be considering that offer at this time.

This didn’t go down well with APA, particularly given how it had made AusNet aware that an offer was coming.

AusNet hit back and explained: “The Board of AusNet agreed to this period of exclusivity in return for a materially increased indicative all cash offer price from Brookfield, as well as retaining the option to engage with other parties, including the provision of due diligence, with respect to any potential competing proposals post expiry of the exclusivity period with Brookfield.”

What’s next?

Given the due diligence situation, AusNet shareholders will have to wait until late November to learn whether the higher APA offer is going to be considered.

However, there are a couple of potential scenarios to consider before then. One is that if Brookfield were to make its offer binding, there’s always a chance AusNet could accept a lower, but binding offer, rather than run the risk of rejecting it and betting everything on a higher but non-binding offer. Especially given how APA’s offer is a mix of cash and shares.

In APA’s favour, there is the foreign investment review board (FIRB) to consider. Given that Spark Infrastructure Group (ASX: SKI) is in the process of being taken over by a North American consortium, there are concerns that the FIRB might not let another electricity distributor fall into the hands of overseas investors.

Especially given how all of Victoria’s electricity distribution and transmission infrastructure would be foreign owned if the Spark deal completes and AusNet were sold to Brookfield.

All in all, this takeover approach, and the AusNet share price, could be worth watching closely over the coming weeks and months.

The post AusNet (ASX:AST) share price down 5% amid takeover battle uncertainty appeared first on The Motley Fool Australia.

More reading

• Why APA, Kathmandu, Nickel Mines, & Sigma shares are dropping
• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• ASX 200 (ASX:XJO) midday update: APA makes AusNet bid, New Hope results impress
• AusNet (ASX:AST) share price to rise after APA (ASX:APA) starts bidding war
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended APA Group. 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 Genesis Minerals Ltd (ASX: GMD) share price has soared into the green during early trade on Wednesday.

Genesis shares are now changing hands at 19 cents apiece, a 160% gain from the market open.

Let’s take a look.

What’s fuelling the Genesis Minerals share price today?

Genesis shares are on the move after the company made a key announcement regarding a capital raise and board restructuring.

The company advised its planned “strategic funding and board restructure”, which is “aimed at delivering extensive financial and management strength” to Genesis.

Overall, the moves are a part of the plan to “grow Genesis into a mid-tier Australian gold company”.

Under the above proposal, Genesis will seek to raise $16 million via a placement at 6 cents per share.

This signifies a 65% discount to the current Genesis Minerals share price. However, just prior to the announcement, it represented just an 18% discount.

The proposal is “led” by “highly regarded gold mining executive”, Raleigh Finlayson, who hails from previous managing director positions at Saracen Mineral Holdings (ASX: SAR) and Northern Star Resources Ltd (ASX: NST), as per the release.

Finlayson will be “appointed managing director of Genesis by no later than 31 March 2022”, and will have performance option rights attached to his tenure.

In addition, former Fortescue Metals Group Limited (ASX: FMG) managing director and CEO Neville Power will be invited to join the board, alongside “highly experienced corporate lawyer” Michael Bowen.

The moves appear to be a big step in credibility for the company, which now has an “enviable team” filling its board, according to the statement.

Genesis’ largest shareholder, Alkane, has advised the company that it “strongly supports the strategic investment and board changes”.

Investors appear to strongly support the changes too and are driving the Genesis Minerals share price into unseen heights during early trade on Wednesday.

What did management say?

Commenting on the announcement, Genesis chairperson Tommy McKeith said:

Raleigh is a highly successful gold miner with an exceptional track record of creating value for
shareholders, growing Saracen from a junior explorer and developer into a $6 billion company at the
time of its merger with Northern Star.

Speaking on the additional appointments to the board, McKeith added:

With Raleigh working alongside Neville, whose vast experience and achievements are widely acknowledged across the Australian business spectrum, and Michael, who is one of Perth’s most highly regarded corporate lawyers, Genesis will have an enviable team in the Boardroom.

Genesis Resources share price snapshot

The Genesis Resources share price wasn’t producing anything exciting before today’s announcement.

It closed yesterday’s session at 7.3 cents, down from around 8 cents a year ago.

It is now up 156% this year to date, and over 130% in the last 12 months – a huge plus for investors who bought Genesis shares back then.

The post Why the Genesis Minerals (ASX:GMD) share price is rocketing 160% today appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares to potentially buy in this volatility
• Woodside (ASX:WPL) share price rallies 3% as oil weighs in on Evergrande collapse
• South32 (ASX:S32) share price edges higher after plan to restart Brazil plant
• Archer Materials (ASX:AXE) share price soars 29% on US patent
• Mineral Resources (ASX:MIN) share price falls amid gas discovery update

The author Zach Bristow has no positions 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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Volatility could provide an opportunity to look at ASX shares at lower prices.

Share prices are changing all the time, but a few negative days in a row can make a business much better value quite quickly, if the long-term profit isn’t being hurt as well.

Looking at the market can lead to finding opportunities that are now much better value.

Here are two to consider:

Accent Group Ltd (ASX: AX1)

The Accent share price has fallen 8% over the last week and it’s down 31% since 28 April 2021.

This is a shoe business with a number of stores which sells a large variety of brands. Skechers, Vans, Stylerunner, Glue Store, Pivot, The Athlete’s Store and The Trybe are just some of the names in the portfolio. It recently signed a distribution agreement with Skechers to extend it by another six years to December 2032.

The FY21 result showed what the business is capable of. Total sales increased around 20% to $1.14 billion. Total online sales increased 48.5% to $209.9 million.

But there were a number of profit margin improvements across the ASX share which helped deliver a large amount of profit growth. The gross profit margin increased 30 basis points, rising from 55.8% to 56.1%. This helped earnings before interest and tax (EBIT) rise 32.1% to $124.9 million and earnings per share (EPS) rose 38.2% to 14.2 cents.

This helped the business grow its annual dividend by 21.6% to 11.25 cents per share.

Accent continues to roll out more stores. It opened 90 new stores during the last financial year. Including the acquisition of Glue Store, its total store number increased to 638. New stores continue to perform better than older stores on more favourable rents.

It’s expecting to reach 700 stores in FY22, opening at least 65 new stores across all banners. Store growth in New Zealand continues to be a key focus. It currently has 75 stores in New Zealand and it’s targeting more than 100 stores by December 2023.

However, lockdowns are expected to hurt EBIT by at least $15 million, though it has implemented a range of inventory management and cost reduction initiatives. Store sales are obviously suffering, but digital sales continue to grow strongly.

According to Commsec, the Accent share price is now valued at 12x FY23’s estimated earnings. The projected FY23 grossed-up dividend yield is 8.5%.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price is down 15% in a week and down almost 30% since the end of July 2021.

This ASX share generates a lot of profit from its iron ore operations, so investors may be focused on the impact of the falling iron ore price.

However, Citi notes that the company’s exposure to lithium may be able to limit the damage done by the weaker iron ore price. That’s one of the main reasons why the broker rates Mineral Resources as a buy with a price target of $65 for the next 12 months.

Including the expected profit decline, the Mineral Resources share price is valued at 12x Citi’s projection for FY23’s earnings with a projected grossed-up dividend yield of around 6% in that year.

In FY21 iron ore was still strong, which helped grow underlying net profit by 230% to $1.1 billion and the annual dividend soared 175% to $2.75 per share.

The post 2 ASX shares to potentially buy in this volatility appeared first on The Motley Fool Australia.

More reading

• Mineral Resources (ASX:MIN) share price falls amid gas discovery update
• 2 ASX dividend shares to buy next week
• The Mineral Resources (ASX:MIN) share price is down 7% today. Is it a buy?
• Why Accent, Ioneer, Lifestyle Communities, & Vulcan are sinking
• 2 buy-rated ASX dividend shares with attractive yields

Motley Fool contributor Tristan Harrison 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 Accent Group. 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 Woodside Petroleum Limited (ASX: WPL) share price is a top performer on Wednesday, adding 3% to a 1-month high of $21.55.

Evergrande rattles oil markets

Oil prices fell sharply on Monday, sparked by fears that China’s Evergrande Group could default on its debt obligations and trigger a domino effect across the global economy.

Crude oil fell from US$71.68 to lows of US$69.63 before bouncing back to US$70.63 at the time of writing.

This dragged the Woodside share price lower on Tuesday, sliding 2.51% to $20.58.

The Evergrande crisis has made a dent in OPEC’s positive outlook for oil markets.

In its monthly oil market report, OPEC said that:

… the recovery in various fuels is expected to be stronger than anticipated and further supported by a steady economic outlook in all regions. Oil demand in 2022 is now projected to reach 100.8 mb/d, exceeding prepandemic levels.

S&P Global quoted analysts from Price Futures Group who said that “oil prices are trying to bounce back after being under pressure because of the concerns about China’s economy due to the possible default of China’s biggest property developer”.

“Those concerns had people running for haven protection in the dollar [and] put downward pressure on a lot of commodities.”

That said, analysts believe that oil demand is supported by a “surge in prices of alternative energy sources such as natural gas, particularly in Europe, where UK gas futures surged to record highs”.

“The region is set to face energy issues because of insufficient stockpiles, a situation that may worsen in the coming months as they enter the Northern Hemisphere winter.”

Woodside share price bounces to a 1-month high

The Woodside share price is making a comeback this month, pushing to a 1-month high of $21.55.

Shares in the oil and gas giant have gone nowhere since November last year, despite oil prices rallying more than 60% over the same period.

The post Woodside (ASX:WPL) share price rallies 3% as oil weighs in on Evergrande collapse appeared first on The Motley Fool Australia.

More reading

• ASX 200 rebounds into positive territory led by energy and materials shares
• 5 things to watch on the ASX 200 on Tuesday
• The Woodside (ASX:WPL) share price has just had a great week. What’s next?
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 (ASX:XJO) shares last week

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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The South32 Ltd (ASX: S32) share price has been rattled by concerns about China’s economy and the possible default of its second-largest property developer, Evergrande Group.

Despite getting caught in the hysteria, the company announced some positive news regarding its Brazilian operations.

At the time of writing, the South32 share price is 0.76% higher to $3.315.

South 32 share price higher on smelter restart plans

South32 holds a 40% share in the Alumar aluminium smelter, which has been in care and maintenance since 2015.

Earlier this week, its joint venture partner Aloca announced plans to restart its operations. This announcement came on the back of surging spot prices.

The process to restart the idled capacity will begin immediately. First production is due around the second quarter of 2022.

The company expects the plant to ramp up to its full 268,000 metric tonne a year of capacity by the fourth quarter of 2022.

Aloca said that the restart is forecast to cost around US$75 million, including US$10 million in capital expenses.

The South32 share price has so far traded flat this week. Though it has fared much better than the S&P/ASX 200 Index (ASX: XJO).

“Our restart decision is based on an analysis that shows the smelter can be competitive throughout all cycles, leveraging the co-located refinery, a strong workforce, and competitive, renewable power arrangements,” Alcoa COO John Slaven said in a statement.

To add some perspective, South32 produced a total of 982,000 tonnes of aluminium in FY21.

Aluminum prices boom to 10-year highs

Aluminium is a top-performing commodity this year thanks to increasing production mandates from Chinese policymakers.

Aluminium prices were sitting around 2-year lows of about US$1,450 a tonne in May 2020, before rallying to US$2,550 a tonne by the end of FY21.

China’s supply squeeze, in addition to the recent military coup in the West African nation of Guinea, has propped up aluminium prices to a decade high of US$2,700 in early September.

This has helped drive the South32 share price to 2-year highs of $3.52 last Thursday.

The post South32 (ASX:S32) share price edges higher after plan to restart Brazil plant appeared first on The Motley Fool Australia.

More reading

• Here are the ASX 200’s most active shares this Tuesday
• New Hope (ASX:NHC) share price jumps on $337m profit turnaround
• Is the South32 (ASX:S32) share price a buy for dividends?
• Here are 3 of the most popular ASX 200 shares by volume today
• Top broker names 2 ASX dividend shares to buy

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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The Archer Materials Ltd (ASX: AXE) share price has bolted out of the gates in today’s session.  

Shares in the high-tech materials company are flying more than 29% higher after releasing an announcement.

Let’s take a look at why investors are scrambling to bid the Archer share price higher.  

Archer share price soars on US patent

Shares in Archer are flying after announcing a commercialisation milestone earlier today.

The company notified investors that its CQ quantum computing chip has been granted a US patent.

According to Archer, the patent will provide the company with protection of the related intellectual property rights in the US.

Archer regards the US as a critical strategic jurisdiction to help protect and potentially commercialise its products.

As a result, the company noted that the granting of the US Patent is a significant step in its efforts to access global markets and participate in the US technology economy.

In particular, Archer’s announcement highlighted the US government’s commitment to continue investment in quantum technologies.

Archer CEO Dr Mohammad Choucair commented:

Most of the investments, R&D, innovation, and commercialisation in quantum computing takes place in, or originates from, the US. At the core of this thriving innovation ecosystem are patents and the accompanying IP rights. Archer is one of few companies with a patent portfolio protecting quantum computing chip technology and one with a unique global competitive advantage.

More on the Archer Materials share price

Archer is a technology company that operates within the semiconductor industry.

The company has a vast pipeline of semiconductor devices that are in various developmental and commercialisation stages.

Shares in Archer Materials recently rocketed to a record high of $3.08 last month, following a patent update.

However, the company’s share price came under pressure following media speculations regarding its patent application in Australia.

The company rejected the accusations made against its CQ quantum computer chip patent.

Despite suffering a sharp pullback, the Archer share price remains more than 300% higher for the year.

At the time of writing, shares in Archer are trading nearly 9% higher for the day at around $2.19.

Shares in the tech company were up more than 29% earlier after hitting an intra-day high of $2.61.

The post Archer Materials (ASX:AXE) share price soars 29% on US patent appeared first on The Motley Fool Australia.

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• The Archer Materials (ASX:AXE) share price is flying 7% higher today

Motley Fool contributor Nikhil Gangaram 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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