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Today, the S&P/ASX 200 Index (ASX: XJO) climbed even higher to set a new record. The benchmark index added 0.29%, climbing to 7,584.3 points.

The question is: which shares delivered the most generously to investors on the ASX today? Here are the ten stocks that rose to the occasion:

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 company increased 8.45% despite the increasing controversy surrounding coal producers after yesterday’s IPCC climate report. Find out more about Yancoal Australia here.

The next biggest gaining ASX share today was Galaxy Resources Limited (ASX: GXY). The lithium producer surged 6.6% to $5.65 along with other companies in the lithium space today. Uncover the latest Galaxy Resources 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)	$2.31	8.45%
Galaxy Resources Limited (ASX: GXY)	$5.65	6.60%
Orocobre Limited (ASX: ORE)	$9.92	6.32%
IOOF Holdings Limited (ASX: IFL)	$4.72	5.83%
Iress Ltd (ASX: IRE)	$15.19	5.78%
Pilbara Minerals Ltd (ASX: PLS)	$2.45	5.15%
Dicker Data Ltd (ASX: DDR)	$14.88	4.64%
Origin Energy Ltd (ASX: ORG)	$4.41	3.77%
Challenger Ltd (ASX: CGF)	$6.10	3.57%
Sims Ltd (ASX: SGM)	$16.64	3.23%

Our top 10 ASX shares 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

• Why ASX 200 lithium shares are surging to new highs
• Which shares are the biggest movers on the ASX 300 this Wednesday?
• Here’s why ASX 200 lithium shares surged higher on Tuesday
• Which shares are leading the ASX 300 on Tuesday?
• Why ASX lithium shares are surging to new highs today

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 shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Dicker Data Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) went up by around 0.3% today to 7,584 points.

Here are some of the highlights from the ASX:

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price rose by more than 1% after the bank released its FY21 result.

It said that its cash net profit increased by almost 20% to $8.65 billion. Statutory profit also increased by around 20% to $8.84 billion.

CBA explained that its net profit increased because of improved economic conditions and outlook resulting in a lower loan impairment expense and a strong operational performance.

The loan impairment expense improved by 78% to $554 million whilst the net interest margin (NIM) declined by 4 basis points to 2.03%. CBA explained the NIM fell due to higher liquid assets and the ongoing impact of a low interest rate environment.

What captured the headlines was that the ASX 200 bank revealed a $6 billion off-market share buy-back. It also grew its full year dividend by 17% to $3.50 per share.

The bank’s common equity tier 1 (CET1) ended the financial year 150 basis points higher at 13.1%.

CBA CEO Matt Comyn said:

While the Australian economic recovery continued strongly through most of FY21, the pandemic continues to have an impact on the Australian economy, as well as the health of our communities. The ongoing roll-out of the vaccination program and government support packages will be important to help Australians and the economy on the path back towards full economic activity.

Iress Ltd (ASX: IRE)

Iress was one of the top performers in the ASX 200 today after receiving another takeover bid.

The fintech said that it has received an offer from EQT Fund Management that has an implied value of $15.91 cash per share, before franking credits. That comprises a cash offer of $15.75 as well as permitting the FY21 interim dividend for shareholders of up to $0.16 per share.

Iress said that it has agreed to grant EQT a period of exclusivity for 30 days to undertake its due diligence.

Subject to due diligence, agreement of a scheme implementation deed and the absence of a superior proposal, the board intends to unanimously recommend the offer to shareholders. However, no action is required to be taken by shareholders at this time.

The new offer has an implied value of a 45.3% premium to $10.95 per share, being Iress’ undisturbed share price on 9 June 2021.

Insurance Australia Group Ltd (ASX: IAG)

The ASX 200 insurance giant also revealed its FY21 result today.

It reported that its gross written premium (GWP) had risen by 3.8% to $12.6 billion. It was mainly rate driven, but it also saw promising new business growth and “stronger” customer retention. The rise of GWP helped insurance profit increase by 35.9% to just over $1 billion.

IAG’s cash earnings surged 168%, or $468 million, to $747 million. This measure excludes “one-off items”. That helped the annual dividend double to 20 cents per share.

However, the statutory bottom line sank to a net loss of $427 million. IAG explained that there were significant one-off corporate expenses mainly relating to business interruption, customer refunds and payroll remediation which impacted the overall result. Management said they are historical issues that have been identified, provisioned for and are fixing, and it’s making investments to continue to lift its risk management operational capabilities.

In FY22 it’s expecting GWP to grow in the low single digits, with a reported insurance margin of between 13.5% to 15.5% – it was 13.5% in FY21 (up from 10.1% in FY20).

The post ASX 200 rises, CBA climbs after FY21 report, Iress jumps appeared first on The Motley Fool Australia.

More reading

• The ASX reporting wrap-up: CBA, Mineral Resources, IAG
• Why Accent, Bluebet, IAG, & Megaport shares are tumbling lower
• CBA (ASX:CBA) share buyback ahead of forecast: broker
• What you need to know about the CBA (ASX:CBA) dividend dates in 2021
• CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News

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 owns shares of 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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As the curtains close on Wednesday, we summarise today’s ASX shares reporting results. Markets reacted with mixed emotions towards the big-name reporters.

We’ll quickly unpack today’s results and then wrap it back up for tomorrow:

Those that delivered today

Commonwealth Bank of Australia (ASX: CBA)

Shares in Australia’s largest bank increased 1.38% to $108.03. This followed the release of the bank’s FY21 results and the announcements of the CEO’s retirement.

The takeaway points:

• Net profit after tax up 19.7% year on year to $8,843 million
• Cash earnings up 19.8% to $8,653 million (versus analyst consensus estimate of $8,464 million)
• Loan impairment expense and provisions down 78% to $554 million
• Net interest margin down 4 basis points to 2.03%
• CET1 ratio up 150 basis points to 13.1%
• Fully franked final dividend of $2 per share declared. Full year dividend up 17% to $3.50 per share
• $6 billion off-market share buy-back, which is expected to reduce its share count by ~3.5%.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price gave away 0.5%, putting it at $60 by the close of the ASX today. The move followed the mining major reporting its solid full-year results to the ASX.

The takeaway points:

• Underlying net profit after tax up 230% year on year to $1,103 million
• Revenue up 76% to $3,734 million
• Operating cash flow up 144% to $1,600 million
• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) up 148% to $1,901 million
• Profit for the year attributable to shareholders up 26.5% to $1,269.7 million
• Fully franked final dividend of 175 cents per share. Full year dividend up 175% to $2.75 per share.

Insurance Australia Group Ltd (ASX: IAG)

Lastly, shares in IAG fell 2.46% to $5.15 today. At one point, the ASX-listed insurance giant failed to win over the market with its sizeable dividend. The share price fall followed the release of the company’s full-year result.

The takeaway points:

• Gross written premium (GWP) increased 3.8% to $12,135 million
• Insurance profit up 35.9% to $1,007 million
• Underlying insurance margin down 130 basis points to 14.7%
• Reported insurance margin up 340 basis points to 13.5%
• Net loss after tax of $427 million
• Cash earnings up 170% to $747 million
• Full year dividend doubled to 20 cents per share

ASX shares reporting tomorrow

Thursday is set to be a big one with numerous big-name results to be reported by ASX-listed companies. These include Telstra Corporation Ltd (ASX: TLS), AMP Ltd (ASX: AMP), AGL Energy Limited (ASX: AGL), Downer EDI Limited (ASX: DOW), Mirvac Group (ASX: MGR), Goodman Group (ASX: GMG), and QBE Insurance Group Ltd (ASX: MIN).

The post The ASX reporting wrap-up: CBA, Mineral Resources, IAG appeared first on The Motley Fool Australia.

More reading

• Why Accent, Bluebet, IAG, & Megaport shares are tumbling lower
• CBA (ASX:CBA) share buyback ahead of forecast: broker
• What you need to know about the CBA (ASX:CBA) dividend dates in 2021
• CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News
• Westpac (ASX:WBC) share price lags the big banks’ after NZ ‘formal warning’

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. 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 Insurance Australia Group Limited and 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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The Hazer Group Ltd (ASX: HZR) share price has jumped out of the starting blocks this week and stamped firmly into the green.

Hazer shares closed the day at 91.5 cents, a 12.27% climb from last Friday’s closing price.

There was no market-sensitive information today. However, Hazer shares may be rising on a backdrop of market crosscurrents that favourably impact Hazer’s end markets.

Let’s investigate further.

The IPCC Climate Report

The Intergovernmental Panel on Climate Change (IPCC) recently delivered the findings from its report on climate change.

A cause for serious concern is the mantra carried throughout the report’s entirety. For instance, the IPCC estimates that global warming will reach 1.5 degrees celsius by 2030 at the current run rate.

The IPCC also found that global temperatures have elevated by 1.1 degrees since industrialisation times.

As such, the report calls to abandon oil, coal and gas exploration. Moreover, it states reforestation and carbon removal are key initiatives in reversing global warming.

What does this mean for the Hazer share price?

Firstly, the ASX is over-indexed towards natural resource shares, highly concentrated in coal, oil, natural gas and metals.

It stands to reason that these names will likely be net losers as a result of the report findings.

Moreover, we already see evidence of the same, with resource heavyweights such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) facing selling pressures on the charts.

In addition, United Nations secretary-general António Guterres described the significant growth in renewable infrastructure required to fulfil the IPCC report’s objectives.

Guterres advocates that wind capacity “should quadruple” and that renewable energy investments “should triple” to “maintain a net-zero trajectory” by 2050.

Recall that Hazer has claim to a unique process that converts biomethane to renewable hydrogen and graphite without producing CO2 in the process.

Therefore, it also stands to reason that Hazer is well positioned to capture these secular tailwinds outlined by Guterres.

Investors seem to think so too, having pushed the Hazer share price 10% higher in afternoon trading.

Hazer share price snapshot

The Hazar share price has posted a year-to-date gain of 13.66%, extending the previous 12 month’s climb of 131.65%.

This has outpaced the S&P/ASX 200 Index (ASX: XJO) return of around 24% over the past year.

The post Why the Hazer (ASX:HZR) share price is up 12% this week appeared first on The Motley Fool Australia.

More reading

• Why the Hazer (ASX:HZR) share price is edging higher today

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 Aussie Broadband Ltd (ASX: ABB) share price has a new record high. It comes after shares in the company rocketed an eye-watering 7.78% to hit a new landmark price of $3.60 at market close on Wednesday.

One possible reason for today’s noticeable price rise could be Aussie Broadband’s new 5-year deal with the Telstra Corporation Ltd (ASX: TLS) wholesale division.

Let’s take a closer look at today’s news.

Aussie Broadband share price rises with new Telstra deal

In a statement to the ASX, Aussie Broadband announced a new 5-year deal with Telstra Wholesale “to provide backhaul capacity between 42 [National Broadband Network] NBN [point of interconnects] POIs and data centres” for areas not already covered by Aussie Broadband’s own fibre network.

According to the company, the new deal will bring forward a combined saving of $1 million per year for FY22 and $15 million per year from FY23 onwards.

All of Aussie Broadband’s POIs will be upgraded from 10GB and 20GB connections to a “minimum” 100GB. The company says the new deal will also provide more certainty for customers as the potential for internet disruptions should be diminished.

This news may be inspiring investors, judging by the surging Aussie Broadband share price.

The additional network capacity will accelerate growth in the business segment and underpins the company’s plans to increasingly target the enterprise and business market, according to Aussie Broadband. The telco also says the deal will facilitate additional growth in its residential and white label segments.

Management commentary

Aussie Broadband Managing Director Phillip Britt said that over the next six months, Aussie Broadband intends to release a range of new products into the Carbon platform, specifically suited to larger businesses.

Carbon has been a game-changer for many of our larger corporate customers; helping them to fully customise, design and order telecommunication services rather than prescribing strict, predetermined service packages.

Aussie Broadband share price snapshot

Over the past 12 months, the Aussie Broadband share price has increased 88.5%. The S&P/ASX 200 Index (ASX: XJO) has only increased 23.5% by comparison.

Only yesterday, Aussie Broadband broke its previous all-time high. The relatively young telco will release its full-year results on 30 August. Given its current valuation, Aussie Broadband has a market capitalisation of $685 million

The post Why the Aussie Broadband (ASX:ABB) share price rose 8% to a new high appeared first on The Motley Fool Australia.

More reading

• How did the Telstra (ASX:TLS) share price respond last earnings season?
• Telstra (ASX:TLS) and this ASX dividend share are rated as buys
• These 3 ASX 200 shares were the most traded this Tuesday
• The Telstra (ASX:TLS) share price just hit another new 52-week high
• Why the Aussie Broadband (ASX:ABB) share price just hit a new all-time high

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 Aussie Broadband Limited. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Accent Group Ltd (ASX: AX1) share price was well and truly out of form on Wednesday.

The footwear-focused retail company’s shares ended the day almost 7% lower at $2.61.

Positively, despite this sizeable decline, the Accent share price is still up close to 80% over the last 12 months.

Why did the Accent share price crash lower today?

The catalyst for the weakness in the Accent share price on Wednesday was the release of a broker note out of Citi this morning.

According to the note, the broker has downgraded Accent’s shares to a sell rating from neutral and cut the price target on them by a sizeable 19% to $2.50.

Citi made the move largely on valuation grounds, believing that Accent shares weren’t factoring a number of potential risks that could impact the company’s performance.

The broker feels that there are risks to Accent’s sales from the recurring lockdowns across Australia. Particularly given how it expects there to be less stimulus in the economy this time around compared to last year.

In addition to this, its team sees risks in the supply chain. It notes that footwear manufacturers such as Adidas have had their production impacted by COVID-19 lockdowns in Vietnam.

In light of this, the broker believes that Accent will now record a decline in same store sales of over 7% during the first half of the new financial year. This is expected to lead to a reduction in both its full year earnings and dividends in FY 2022.

Though, it is worth noting that with Citi forecasting a fully franked dividend of 12.5 cents per share next year, this will still provide investors with a generous yield. Based on the current Accent share price, this equates to a fully franked dividend yield of almost 4.8%.

The post Accent (ASX:AX1) share price down 7% on broker downgrade appeared first on The Motley Fool Australia.

More reading

• Why Accent, Bluebet, IAG, & Megaport shares are tumbling lower
• Which shares are the biggest movers on the ASX 300 this Wednesday?
• 2 top ASX dividend shares tipped to grow at a solid rate
• Telstra (ASX:TLS) and this dividend share could be buys
• 2 excellent ASX dividend shares given buy ratings

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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 Nufarm Ltd (ASX: NUF) share price climbed higher today following a positive announcement from the company during afternoon trade.

At market close, the agricultural chemicals company’s shares finished up 3.33% high, trading at $4.51.

What did Nufarm announce?

Investors are buying up Nufarm shares in hopes that the company’s latest news will see penetration into new markets.

According to its release, Nufarm advised that the United States Food and Drug Administration (FDA) has approved its Nutriterra Omega-3 Canola Oil as a new dietary ingredient.

Developed by Nuseed, a wholly-owned subsidiary of Nufarm, the Canola-based Omega-3 canola oil is the world’s first plant-based source of DHA and EPA long-chain omega-3 fatty acids.

Its Omega-3 profile can be used to support human nutrition (marketed as Nutriterra) and fish feed (marketed as Aquaterra).

A human clinical trial previously conducted by Nuseed recorded significantly improved omega-3 levels leading to reduced cardiovascular and cognitive risks. The dietary supplements quickly absorbed the oil’s long-chain omega-3, which were merged into blood lipids.

Nufarm also believes its Aquaterra product can reduce pressure on fisheries to catch wild-fish stocks.

The company has obtained human food and fish feed approvals in Australia, New Zealand, and Canada. Additional regulatory applications in other key markets around the world are progressing.

Management commentary

Nufarm CEO, Greg Hunt commented:

The FDA’s acknowledgment along with our recently completed human clinical trial, allows us to progress our plans to expand into the human nutrition market and meet a growing demand for plant-based omega-3 essential oil options.

Mr Hunt went on to add:

With FDA recognition of Nuseed’s conclusion that Nutriterra is a safe new dietary ingredient, we are well placed to secure commercial partnerships that will attract new consumers, enter into new segments and raise consumption of omega-3.

About the Nufarm share price

Over the last 12 months, Nufarm shares have gained a little over 5%, with year-to-date up around 10%. The company’s share price reached a 52-week high of $5.60 in April, before treading lower.

Nufarm has a market capitalisation of roughly $1.7 billion, with approximately 379 million shares on its books.

The post Why the Nufarm (ASX:NUF) share price climbed higher today appeared first on The Motley Fool Australia.

More reading

• Why the Elders (ASX:ELD) share price is outperforming today
• These ASX shares are the latest buy ideas from top brokers

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 parabolic Pilbara Minerals Ltd (ASX: PLS) share price has added 23% in the past week to a fresh all-time high of $2.46 on Wednesday.

Perhaps what’s more impressive is the fact that Pilbara Minerals shares have doubled in just over three months, from $1.21 on 27 May.

Good news keeps piling up

The Pilbara Minerals share price continues to leverage the bullish news for the lithium sector and spot prices.

A major catalyst for the lithium sector last week was President Joe Biden’s executive order, targeting at least half of all new vehicles sold in the United States to be electric by 2023.

The Pilbara Minerals share price rallied 10.95% on Tuesday in wake of bullish commentary for the lithium sector from JPMorgan.

The broker upgraded all the ASX 200 lithium shares under its coverage to an overweight rating, citing a significant supply-demand imbalance in the medium-term and upgrading its long-term lithium spot price forecasts.

A bigger theme at hand

The surging Pilbara Minerals share price could play into a much bigger thematic, that is climate change.

In the words of the Eureka Report’s Alan Kohler, “It’s not often an investing theme comes along that is both certain and certainly huge, but we’ve got one right now. The theme is climate change, or more specifically, the transition to a zero-carbon world.”

The International Energy Agency’s world energy outlook 2020 cited that, “A structural transformation of the energy sector will require massive investment in new, more efficient and cleaner capital stock. Drawing on the IEA Sustainable Recovery Plan, the Sustainable Development Scenario (SDS) sees a near-term surge of investment in clean energy technologies over the next ten years.”

Going back to Pilbara Minerals, the company has signed a number of offtake agreements with leading players in the renewable technology space including Gangfeng Lithium and CATL.

The post The Pilbara Minerals (ASX:PLS) share price is up 23% in a week appeared first on The Motley Fool Australia.

More reading

• Why ASX 200 lithium shares are surging to new highs
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares were the most traded this Tuesday
• Here’s why ASX 200 lithium shares surged higher on Tuesday
• Which shares are leading the ASX 300 on Tuesday?

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 Novonix Ltd (ASX: NVX) share price obviously had more in the reserve tank after lifting off yesterday.

After emerging from its trading halt, the lithium-ion battery tech company gained 15.6% yesterday. The momentum has clearly rolled into trading today, with the company adding an additional 12.6% to its share price.

Big investment for the future

The ignition for investors’ excitement appears to stem from the Novonix announcements yesterday. These included a capital raising program and a strategic investment, which go hand in hand.

Pertaining to the capital raising, Novonix is intending to issue 77,962,578 new ordinary shares. These shares are being priced at A$2.60 per share which, some quick math suggests, is roughly $202.7 million of capital raised.

It was revealed that United States energy company Phillips 66 (NYSE: PSX) will purchase the new Novonix shares, taking a 16% equity stake in the ASX-listed company in the process. This news catapulted the Novonix share price higher.

While Phillips 66 is an oil company, by and large, it also develops carbon anodes and materials for lithium-ion batteries using the by-products of its main business. Reportedly, the US company’s rationale for the investment is to advance its commitment to pursuing lower-carbon solutions.

Additionally, the partial acquisition will support its endeavour to sure-up a domestic supply chain for the growing electric vehicle market in the US. In the process, Phillips 66 will be providing Novonix capital for expansion, according to the company:

Phillips 66’s investment will provide Novonix with the capital needed to support growth and ongoing R&D as the group continues to scale synthetic graphite production and develop new technologies for higher-performance energy storage applications.

These efforts are certainly heavily in focus after the alarming climate report released by the IPCC yesterday. Essentially, the in-depth study called for a swift and decisive shift away from oil, gas, and coal within this decade.

Novonix share price in review

Any lucky shareholders that have retained their holdings in Novonix over the last year have enjoyed significant share price appreciation. The past year has seen the Novonix share price increase an astonishing 231%. Comparably, the S&P/ASX 200 Index (ASX: XJO) has climbed 23.5%.

Lastly, the market capitalisation on Novonix is now residing at around $1.58 billion.

The post Novonix (ASX:NVX) share price surges another 12%. Here’s why appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Which shares are the biggest movers on the ASX 300 this Wednesday?
• These 3 ASX 200 shares were the most traded this Tuesday
• Which shares are leading the ASX 300 on Tuesday?
• Why BlueBet, James Hardie, Megaport, & Novonix shares are racing higher

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 Origin Energy Ltd (ASX: ORG) share price gained 4% today after the company released news of a green ammonia partnership.

Origin has partnered with Mitsui O.S.K. Lines (MOL). The two companies plan to look into creating a green ammonia supply chain in Australia.

The Origin Energy share price finished today trading at $4.42.

Let’s take a closer look at Origin Energy’s latest venture.

Is this the green future?

The Origin share price had a great day after the energy company announced it’s looking into creating green ammonia.

Ammonia can be used as a renewable energy. It’s often called ‘green’ when it’s produced using renewable energy.

The companies will come up with a feasibility study outlining their plan to supply “key downstream markets” with green ammonia. They expect the feasibility study, which will look at beginning supplying green ammonia from 2026, to be completed by December.

Additionally, Origin is already undergoing a $3.2 million feasibility study looking into producing green ammonia in Bell Bay, Tasmania.

Origin’s general manager of future fuels, Tracey Boyes commented on the benefits that may come from producing ammonia in Australia:

With our abundance of renewable resources and proximity to Asian markets, Australia is in the box seat to develop a world-leading hydrogen sector…

Transport is one of the biggest opportunities globally to achieve emissions abatement through the use of green and renewable fuels such as hydrogen and ammonia.

Boyes also noted Origin is in a prime position to explore producing green ammonia, due to its experience in exporting LNG.

Origin share price snapshot

Today’s boost hasn’t been enough to get Origin back into the red on the ASX.

Right now, shares in Origin are going for 8% less than they were at the start of the year. They have also fallen 24% since this time last year.

The company has a market capitalisation of around $7.4 billion, with approximately 1.7 billion shares outstanding.

The post Origin (ASX:ORG) share price lifts following green ammonia news appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy next week
• Origin (ASX:ORG) share price falls as climate goals put to shareholder vote
• The AGL (ASX:AGL) share price just hit its lowest point in 17 years
• Why A2 Milk, Marley Spoon, Origin, & Sezzle shares are tumbling lower
• Here are 3 heavily traded ASX 200 shares on the markets today

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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