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ASX energy shares are largely moving higher today.

While many factors impact each individual company’s share price, ASX energy shares are undoubtedly enjoying a continuing surge in oil prices.

Currently at US$74.49 (AU$96.75) per barrel, Brent crude is trading at its highest levels in more than 2 years.

Indeed, as recently as 30 October, Brent was selling for a mere US$37.46 per barrel. Or roughly half what it’s fetching today.

Little wonder then that we see most ASX energy shares benefiting.

What’s ahead for oil?

Oil prices have been soaring on the back of demand and supply imbalances.

Demand has been resurgent as the world emerges from pandemic lockdowns. Supply has been reduced due to successful efforts by OPEC+ (which includes Russia) to cut output, along with far less shale oil coming out of the US since COVID struck.

Mike Muller is Vitol Group’s head of Asia. Vitol, if you’re unfamiliar, is the world’s biggest independent oil trader.

According to Muller (as reported by Bloomberg), with US output down OPEC+ is in the driver’s seat when it comes to managing prices. “There’s a perception in the market that control is with OPEC+. It will take a long time for US oil to come back,” Muller said.

Muller expects China’s economic growth will also drive further demand for oil and bring down crude stockpiles.

Now, even for the experts, forecasting the price of oil is contingent on many factors. Should US supply unexpectedly ramp up, or should global energy demand falter in the face of renewed virus lockdowns, the oil price would almost surely retrace.

4 ASX energy shares trading higher today

There’s a rather lengthy list of ASX energy shares, big and small, trading higher today.

For the purposes of this article, we’ll look at 4 of the bigger, leading players.

First up, Santos Ltd (ASX: STO). The S&P/ASX 200 Index (ASX: XJO) listed energy share has a market cap of $16.2 billion and is currently trading for $7.79 per share. The Santos share price is up 1.5% in intraday trading and has gained 24.2% so far in 2021.

Next, we have Woodside Petroleum Limited (ASX: WPL). Woodside is another ASX 200 energy share, with a market cap of $23.5 billion. The Woodside share price is up 2.9% in early afternoon trade and up 7.3% year-to-date.

On the smaller end of this pack is Senex Energy Ltd (ASX: SXY), with a market cap of $656 million. The Senex share price is up 4.23% today and has gained 41.8% so far in 2021.

Finally, we leave off with ASX energy share Oil Search Ltd (ASX: OSH). Also an ASX 200 company, Oil Search has a market cap of $8.7 billion. The Oil search share price is up 2% in intraday trading and up 13% year-to-date.

The post 4 ASX energy shares trading higher today appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Santos (ASX:STO) boss says investors and banks are ditching fossil fuels
• Why ASX energy shares could outperform this morning
• ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound
• 5 things to watch on the ASX 200 on Tuesday

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben 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 Firefly Resources Ltd (ASX: FFR) share price just leapt 20% to 12 cents per share.

Firefly Resources’ share price closed at 10 cents per share on Thursday. That’s when the ASX gold explorer entered a trading halt pending today’s joint announcement with Gascoyne Resources Ltd (ASX: GCY).

Gascoyne also just exited a trading halt enacted on Friday, with its shares currently down 1%, having earlier posted gains of 8% shortly after the announcement.

What did Gascoyne and Firefly announce?

The Firefly Resources share price shot higher after the 2 ASX gold miners announced that they’ve agreed to merge.

Under the agreement, Gascoyne will acquire 100% of Firefly Resources’ shares held at the Scheme record date in exchange for 0.34 Gascoyne shares. According to the release that represents an implied offer price of 14.5 cents per share, based on Gascoyne’s 5-day volume weighted average price (VWAP).

The companies said the merger will create a “leading regional gold production and development business” in the Murchison Region of Western Australia. The merger is unanimously supported by Firefly’s board.

Firefly and Gascoyne also unveiled their plans to demerge their copper-gold and lithium projects. These assets will come under the control of a new resource explorer, which will be called Firetail Resources Limited. Firetail will then apply to be listed on the ASX.

Commenting on the merger agreement, Richard Hay, Gascoyne’s CEO said:

The merger with Firefly will consolidate approximately 1,200 square kilometres of the Yalgoo and Dalgaranga greenstone belts under single ownership, significantly enhancing the exploration upside potential with over 100 high quality targets. Any discoveries can quickly be brought into production at Gascoyne’s high quality, low cost Dalgaranga processing plant.

Firefly’s CEO Simon Lawson added:

Firefly shareholders will hold approximately 32% of the merged entity, with the transaction providing an opportunity for immediate value realisation at an attractive premium. Through their holdings in the enlarged Gascoyne, Firefly shareholders will stand to benefit from the re-rating that we would expect to flow from the creation of a larger gold company with an increased mine life and enhanced production profile.

Following the merger, Firefly estimates the combined company will have a pro forma market cap of $159 million. It will continue to trade as Gascoyne Resources, with the ticker GCY.

Lawson will join the Board of Gascoyne as a non-executive-director while Hay will continue in his role as CEO.

Firefly Resources share price snapshot

Up 20% following the merger announcement, Firefly Resources’ share price remains down 37% year-to-date.

Over the past 12 months, however, the Firefly Resources share price is up an impressive 300%.

The post Why the Firefly Resources (ASX:FFR) share price just leapt 20% higher appeared first on The Motley Fool Australia.

More reading

• ‘Big Shorter’ Michael Burry calls biggest share market bubble of all time
• 4 ASX energy shares trading higher today
• Shaver Shop (ASX:SSG) share price dives 8% after FY21 trading update
• Why Appen, Orocobre, Sandfire, & Whitehaven Coal shares are sinking
• Nuix (ASX:NXL) share price wobble after company upheaval

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben 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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Shaver Shop Group Ltd (ASX: SSG) shares dived by nearly 14% in early morning trade today. They have since rallied back to $1 at the time of writing, down 8.26% from yesterday’s close.

It appears the Shaver Shop share price is reacting to the company’s FY21 outlook announcement released this morning. Here’s what the company expects to deliver by 30 June 2021.

Outlook

Shaver Shop shares are in the red after the company advised it expects to deliver total sales of between $211 million and $213 million in FY21. This represents an 8.2% to 9.3% increase against FY20 sales of $194.9 million.

Worth noting is the company’s accelerated growth during COVID-19. Shaver Shop’s FY20 total sales increased 16.4% compared to the prior corresponding period.

Additionally, the company expects FY21 net profit after tax to be within the range of $16.75 million to $17.5 million. The forecast net profit figures represent a 58% to 65% increase compared to FY20 net profit of $10.6 million.

There has been a recent trend of ASX retail shares cycling through a tough period of comparables, during which COVID-19 arguably supercharged sales. And judging by today’s Shaver Shop share price performance, the fact the company’s sales growth has slowed may be disappointing some investors.

Another factor that may be concerning some investors is the company’s cash position. Shaver Shop advised it expects to hold $6 million to $8 million in net cash with no debt by the end of 30 June 2021.

This represents a significant decline from the company’s half-year results, in which Shaver Shop reported $41.1 million in cash with no debt.

Shaver Shop shares slide into negative YTD territory

The Shaver Shop share price started the year off strong. A positive trading update lifted its year-to-date returns to about 18% on 11 January.

However, since February, the company’s shares have struggled to trend higher, stalling around the $1.00 to $1.10 level.

Despite the S&P/ASX 200 Index (ASX: XJO) lifting 10% year to date, today’s harsh sell-off has sent the Shaver Shop share price in the opposite direction. Prior to today, the company’s shares were around 3% higher for the year and are now trading 5.7% lower in 2021.

The post Shaver Shop (ASX:SSG) share price dives 8% after FY21 trading update appeared first on The Motley Fool Australia.

More reading

• Why Appen, Orocobre, Sandfire, & Whitehaven Coal shares are sinking
• Nuix (ASX:NXL) share price wobble after company upheaval
• What’s going on with the Hazer (ASX:HZR) share price today?
• Firefinch (ASX:FFX) share price soars 11% on lithium joint venture
• NAB and Zip were among the most traded ASX shares last week

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 S&P/ASX 200 Index (ASX: XJO) is on form again and pushing higher. At the time of writing, the benchmark index is up 0.2% to 7,393.8 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

Appen Ltd (ASX: APX)

The Appen share price is down 4% to $13.43. This decline appears to be largely due to a pullback on the tech heavy Nasdaq index overnight. It isn’t just Appen that is under pressure. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is trading 0.55% lower. In other news, Appen will be kicked out of the ASX 100 index next week. This could have added to the selling pressure today.

Orocobre Limited (ASX: ORE)

The Orocobre share price has tumbled 5% to $5.95. This is despite there being no news out of the lithium producer. However, a number of lithium shares are sinking this week. This may be due to profit taking from investors after some stellar gains so far in 2021. Even after falling 11% in the space of a week, the Orocobre share price is still up 31% year to date.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is down 5% to $6.98. Although the copper producer released an announcement today, this decline doesn’t appear to be due to that. Instead, a 5% decline in copper prices for delivery in July overnight seems to be behind this weakness. The base metal came under pressure amid concerns that Chinese authorities were going to try to curb a recent rally in commodity prices.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has fallen 3% to $2.04. This appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the coal miner’s shares to a neutral rating with a $2.20 price target. It made the move largely on valuation grounds.

The post Why Appen, Orocobre, Sandfire, & Whitehaven Coal shares are sinking appeared first on The Motley Fool Australia.

More reading

• ASX 200 up 0.35%: SEEK upgraded, Afterpay lower
• Why the Sandfire (ASX:SFR) share price is tumbling today
• 4 ASX shares to gain exposure to international market growth: fund manager
• 4 buy-rated ASX shares for June
• ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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Shares in Nuix Ltd (ASX: NXL) spent this morning on the up, despite the company facing another major shakeup yesterday. Then, over the course of half an hour, the Nuix share price plummeted around 4% for no immediately obvious reason.

At the time of writing, the Nuix share price is 3.99% lower than yesterday’s close ­– shares in the company are swapping hands for $2.65 apiece.

Yesterday, the embattled software company announced two executives were leaving the company following nearly a month of media criticism.

Quick refresher

In mid-May, Nine Entertainment Co Holdings Ltd (ASX: NEC) media outlets including Australian Financial Review, The Age, and The Sydney Morning Herald published a joint investigation series into Nuix. The series involved 5 daily articles that ran over the course of a week.

The articles included claims that Nuix had been poorly governed and had a history of bad financial disclosures.

They also reported on 2 class actions the company is purportedly facing, questioned its former chair’s ethics, and foreshadowed an Australian Federal Police investigation into a questionable Nuix options package.

The latest news on Nuix

Yesterday morning, Nuix announced its chief financial officer (CFO) Stephen Doyle had been “terminated by mutual agreement”. He will leave the company on 21 June.

Just half an hour later, Nuix chief executive officer (CEO) Rod Vawney notified the market of his retirement from the company. Vawney will continue as CEO until a replacement is found.

On the back of the news yesterday, the Nuix share price rallied 6% higher before falling 2.5% in the final hour of trade.

Former Star Entertainment Group Ltd (ASX: SGR) CFO Chad Barton will step into the role of Nuix’s interim CFO next week.

Nuix share price snapshot

The Nuix share price has been battling through its first year on the ASX.

Currently, the Nuix share price is 66% lower than the day of its initial public offering (IPO) in December.

It’s also 77% lower than its 52-week high of $11.86.

The post Nuix (ASX:NXL) share price wobble after company upheaval appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, Nuix jumps, REA buys stake of Simpology
• Nuix (ASX:NXL) share price charges higher after announcing CEO and CFO exits
• 3 unloved ASX shares set to take off: analysts
• BetMakers and Zip were among the most traded ASX shares last week
• Macquarie and Nuix face ASIC investigation: report

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 recommended Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty 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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The Hazer Group Ltd (ASX: HZR) share price is in reverse during late morning trade. This comes after the hydrogen producer provided an update on its Commercial Demonstration Project (CDP).

Hazer’s CDP is being constructed at Water Corporation’s Woodman Point Water Recovery Facility in Western Australia. The company aims to convert natural gas and similar methane feedstocks, into hydrogen and high-quality graphite, using iron ore as a process catalyst.

At the time of writing, Hazer shares are down 11.43% to 93 cents. This is a stark contrast from when the company’s share price reached an all-time high of $1.885 in February 2021.

What’s dragging the Hazer share price down?

Investors are heading for the hills, selling Hazer shares following the company’s shock announcement.

In a statement to the ASX, Hazer advised its CDP is experiencing significant cost pressures since its last update in March.

The company stated that during the last quarter, it completed a number of set targets. This included civil site preparation, awarding contracts for the reactor and high-temperature heat-exchanger materials, and taking delivery of the iron-oxide catalyst.

Hazer ensured the materials selection and fabrication specifications of the reactor and equipment met the required safety criteria. It noted that a considerable amount of effort has been dedicated as it progresses the first-of-kind design.

However, the company is facing increased costs due to COVID-19 related disruptions to global supply chains for equipment. Surging freight costs has also restricted the number of suppliers able to meet the technical requirements to supply the project.

Furthermore, Hazer revealed that labour, equipment and services costs in Western Australia are higher than originally indicated. This is due to the strong resource industry with final pricing for many of the packages above the initial project budget.

As a result, the company is now expecting the final project cost to come between $20 million and $22 million. This is a blowout of 17% from its March update, and 29% from the June 2020 Final Investment Decision (FID) project budget.

Fabrication of equipment modules is underway at various supplier sites, with equipment packages to be delivered through the second-half of 2021.

Site installation and construction activities will begin in July and is expected to be completed in the fourth-quarter of 2021.

Management commentary

Hazer Group CEO, Geoff Ward commented:

The Hazer team and our engineering partner Primero Group are continuing to make good progress on the Hazer Commercial Demonstration Project, a complex, first-of-kind technical project.

Scaling up a technology from pilot to demonstration stage is a key step with many engineering, safety and operational complexities that must be thoroughly investigated to ensure the plant achieves its operational goals safely.

… We remain fully funded to complete the Project and focussed on completing construction to achieve our target of commencing commissioning by end December 2021.

The Hazer share price has doubled in value over the past 12 months, and is up over 20% year-to-date.

The post What’s going on with the Hazer (ASX:HZR) share price today? appeared first on The Motley Fool Australia.

More reading

• Firefinch (ASX:FFX) share price soars 11% on lithium joint venture
• NAB and Zip were among the most traded ASX shares last week
• Most Aussies will get a pay raise next month… will you?
• Why AVITA, Cettire, Lifestyle Communities, & SEEK are storming higher
• Here’s why the Orthocell (ASX:OCC) share price is on the move today

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

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The Firefinch Ltd (ASX: FFX) share price is soaring following news of two significant developments for the company, which is headquartered in Australia but focused on mining operations in Mali, West Africa.

At the time of writing, the Firefinch share price is trading at 50.5 cents ­– 10.99% higher than its previous closing price. In early trade, the share price reached an intraday high of 57 cents.

The gold and lithium miner has announced a joint venture with the world’s largest lithium company by production capacity, Ganfeng Lithium Co Ltd.

Ganfeng is a Chinese lithium chemicals and metals producer listed on the Hong Kong Stock Exchange
and Shenzhen Stock Exchange with a market capitalisation of about US$26 billion.

The companies plan to jointly develop and operate the Goulamina Lithium Project in Mali, which is wholly owned by Firefinch.

Firefinch says Goulamina is among the world’s highest quality and largest undeveloped lithium deposits.

Additionally, Firefinch has awarded a joint venture mining contract for its 80%-owned Morila Gold Mine, which it acquired in November 2020. The mine is also located in Mali.

Firefinch shares entered a trading halt early yesterday. Today is their first trading session since Friday’s close.

Let’s take a detailed look at the latest news from Firefinch.

New joint venture with Ganfeng

Firefinch shares are having a bumper day after the company announced it has signed a binding term sheet with Ganfeng to enter a 50:50 joint venture to develop and operate the Goulamina Lithium Project.

The joint venture will see the project funded by Ganfeng and operated by Firefinch.

A separate company, Mali Lithium BV, will be formed to hold Firefinch’s 50% interest in the joint venture and US$130 million of Ganfeng’s funding. As the project develops, Ganfeng will progressively gain a 50% interest in Mali Lithium.

Ganfeng will also provide up to US$64 million in debt facilities. Ganfeng’s debt facility and funding is expected to finance Goulamina through to production.

Additionally, Ganfeng will enter an offtake agreement to buy the products of Goulamina, providing a guaranteed revenue stream.

The companies expect a final investment decision on the project in 6 months, dependant on transaction approvals.

Goulamina’s pre-feasibility study found the project’s production will likely be around 436,000 tonnes of spodumene concentrate annually. That would make around 64,700 tonnes of lithium carbonate equivalent.

Goulamina is expected to have an initial 23-year mine life.

As previously announced, Firefinch plans to demerge the Goulamina project to a separate lithium-focused ASX listed entity named Lithium Co. The demerger won’t happen until a final investment decision is made on Goulamina.

Mining contract awarded

Additionally, after yesterday’s close, Firefinch announced it has awarded the mining contract for its Morila Gold Mine to a joint venture between international mining contractor, Mota-Engil and Malian contractor Inter-Mining Services.

The contract is worth around US$360 million. Work at the mine will commence in August.

Firefinch share price snapshot

Today’s boost has added to the stellar performance of the Firefinch share price on the ASX lately.

Currently, Firefinch shares are around 178% higher than they were at the start of 2021. They have also gained around 376% since this time last year.

The company has a market capitalisation of around $392 million, with approximately 785 million shares outstanding.

The post Firefinch (ASX:FFX) share price soars 11% on lithium joint venture appeared first on The Motley Fool Australia.

More reading

• NAB and Zip were among the most traded ASX shares last week
• Most Aussies will get a pay raise next month… will you?
• Why AVITA, Cettire, Lifestyle Communities, & SEEK are storming higher
• Here’s why the Orthocell (ASX:OCC) share price is on the move today
• 2 excellent ASX healthcare shares named as buys

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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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

This buy now pay later provider’s shares were once again the most traded on the CommSec platform last week. Zip’s shares accounted for 2.2% of trades on the platform, with the buying and selling largely even. The buyers will have been the happier group of investors, though. The Zip share price rose 2.6% during the week after tech shares rebounded.

National Australia Bank Ltd (ASX: NAB)

This banking giant’s shares were attributable to 1.4% of trades on the platform last week. However, despite 74% of the volume coming from buyers, it couldn’t stop the NAB share price from losing 3.8% of its value during the period. This was driven by concerns over an AUSTRAC investigation into potentially serious and ongoing non-compliance with AML/CTF laws.

Betashares Nasdaq 100 ETF (ASX: NDQ)

Investors were buying this popular ETF again last week, leading to its units being accountable for 1.4% of trades on CommSec. Almost three-quarters of the volume came from the buy side. Fortunately for those buyers, the Nasdaq 100 ETF rose 2.1% over the five days. The index then climbed to a record high on Monday.

Imugene Limited (ASX: IMU)

Traders have been buying this immuno-oncology focused biopharmaceutical company’s shares again. This led to Imugene’s shares accounting for 1.2% of trades on CommSec last week. And while 64% of the volume came from buyers, it couldn’t stop the Imugene share price sinking 11.5% over the five days. Concerns over its lofty valuation appear to be weighing on its shares.

iShares Core S&P/ASX 200 ETF (ASX: IOZ)

Another ETF that was popular with investors was the iShares Core S&P/ASX 200 ETF. It was attributable to 1.2% of trades on Commsec, with a massive 86% of the volume coming from buyers. However, despite the buying pressure, the ETF was largely flat last week. Though, it is up a solid 12% since the start of the year.

The post NAB and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

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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 BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. 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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You might not realise it, but most Australians are in line to get a pay rise next month. Under laws that passed the Australian parliament a few years ago, the superannuation guarantee is scheduled to rise from 9.5% to 10% from 1 July. That means that anyone who received superannuation payments from their employers (which is almost everyone who is currently employed) will get a pay rise of 0.5% in just a couple of weeks.

Yes, it is super. But before anyone brings up how you won’t see this money in your bank account, remember that super is your money too. And a rise in the superannuation guarantee will result in anyone receiving it becoming more wealthy. As well as better placed for a comfortable retirement.

Any money that flows to superannuation is typically invested on your behalf as well. So this extra cash that most workers will be receiving will head straight into assets like bonds, term deposits, and yes, ASX shares, to grow over time.

Suped-up super

Of course, many Aussies might prefer to just pocket the extra cash themselves. But remember, money that goes to super is usually taxed less than ordinary income. So it’s a win from that perspective as well.

However, not all Aussie workers night be enjoying this upcoming rise. According to a report from the ABC this week, there are a number of workers who might not feel the benefit. The report cites a ‘loophole’ in the laws that allow businesses that pay super as part of a total salary package to simply rebalance their employees pay to reflect the higher super guarantee. In other words, they can take the extra 0.5% they have to pay in super out of their employees’ pay packets.

This isn’t technically a ‘pay cut’ since the employee in question is no worse off on paper. But it will certainly upset many of these employees that might not appreciate a reduction in their take-home pay. The ABC included the results of a survey conducted by research firm Mercer. This found that almost two-thirds of firms with a ‘total salary package’ structure for their workers were considering taking the super increase out of their employees’ existing pay packets.

The report also states that the federal government sees no problem with this situation. It points out that Superannuation Minister Jane Hume recently cited a trade-off between providing more superannuation and wage increases. This is something that The Motley Fool’s chief investment officer Scott Philips recently discussed. So if you’re not sure if you’re on a ‘total salary package’, it might be a good time to find out!

The post Most Aussies will get a pay raise next month… will you? appeared first on The Motley Fool Australia.

More reading

• Why AVITA, Cettire, Lifestyle Communities, & SEEK are storming higher
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• The Vulcan Energy (ASX:VUL) share price is rising today

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 early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is defying overnight weakness on Wall Street and is pushing higher. At the time of writing, the benchmark index is up 0.3% to 7,400.8 points.

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

AVITA Medical Inc (ASX: AVH)

The AVITA Medical share price has stormed 12% higher to $5.61. This morning the regenerative medicine company announced that it expects to outperform its fourth quarter revenue guidance. Instead of quarterly revenue of US$8.2 million to US$8.6 million, it is now expecting revenue in the range of US$9.5 million to US$9.7 million.

Cettire Ltd (ASX: CTT)

The Cettire share price is up 6% to $2.10. The online luxury goods seller’s shares are rebounding on Wednesday following a sharp decline on Tuesday amid concerns over its business model and the authenticity of the products it sells. This morning Cettire defended its business and refuted the claims. It said: “Cettire has confidence in the sustainability of its supply chain and the authenticity of the products available on its platform.”

Lifestyle Communities Limited (ASX: LIC)

The Lifestyle Communities share price has jumped 7.5% to $15.37. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has retained its conviction buy rating and lifted its price target to $16.50. Goldman believes its shares are attractively priced given its solid growth prospects thanks to its exposure to the ageing populations tailwind.

SEEK Limited (ASX: SEK)

The SEEK share price is up 2.5% to $33.07. Investors have been buying the job listings company’s shares after it was the subject of a bullish broker note out of Macquarie. According to the note, the broker has retained its outperform rating and lifted its price target to $40.00. Macquarie believes SEEK will benefit greatly from improving yields on its ads when discounts are removed. It also expects the Australian unemployment rate to fall to 4% in 2023, underpinning strong growth in ad volumes.

The post Why AVITA, Cettire, Lifestyle Communities, & SEEK are storming higher appeared first on The Motley Fool Australia.

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James Mickleboro owns SEEK shares. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Avita Medical Limited and Cettire Limited. The Motley Fool Australia has recommended Avita Medical Limited, Cettire Limited, and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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