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ASX 200 consumer staples shares performed better than any other sector on the market today.

The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) was up 1.23% to 13,079.7 points at the market close on Friday. In comparison, the S&P/ASX 200 Index (ASX: XJO) lifted just 0.34% today.

Let’s take a look at which ASX 200 consumer staples shares had a top day today.

In the green…

The consumer staples sector was the best performing on the ASX today. Other sectors that closed in the green included information technology, up 1.20%, and real estate, up 1.12%. Financials also lifted 1.00%, while the healthcare and energy sectors shed 0.27% and 1.84%, respectively.

Among the consumer staples winners were Coles Group Ltd (ASX: COL), Woolworths Group Ltd (ASX: WOW), Treasury Wine Estates Ltd (ASX: TWE) and Bega Cheese Ltd (ASX: BGA).

Coles shares jumped 1.16%, while Woolworths shares were trading 1.18% higher at the close. Treasury Wine Estates shares jumped 2.2%, and Bega Cheese shares rose 1.54%.

In the news…

Signs that inflation may have peaked could have provided consumer shares with a boost today. AMP Capital chief economist Shane Oliver, in quotes cited by the ABC, suggested investors were optimistic the Reserve Bank of Australia (RBA) would be “less hawkish and that there will be a soft landing”.

Oliver added:

Despite worse than expected CPI inflation data and increased market expectations for RBA rate hikes — with the market’s expected cash rate peak this year rising from 3.45 per cent to 3.75 per cent — the Australian share market rose for the fourth week in a row and is now less than 2 per cent below its all-time high.

Meanwhile, in news today, the Australian Competition and Consumer Commission and Foreign Investment Review Board have approved Coles’ plan to offload its Coles Express retailing business to Viva Energy Group Ltd (ASX: VEA). In a statement, Viva said:

Completion of the transaction remains subject to closing conditions with Coles Group and is anticipated to occur in the second quarter of 2023.

Share price snapshot

The Coles share price has risen 11% in the last 12 months. In the year to date, Coles shares have risen nearly 5%.

The Woolworths share price has risen 4.3% in the last 52 weeks and nearly 5% year-to-date.

The Treasury Wine Estates share price has soared nearly 35% in the last 12 months and nearly 6% year to date.

Bega Cheese shares have fallen 19% in the past year. However, they have lifted 2% year to date.

The post ASX 200 consumer staples shares raced higher to finish the day on top appeared first on The Motley Fool Australia.

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More reading

• Experts say these are the ASX 200 blue chip shares to buy now
• Why I think Woolworths shares aren’t worth the worry
• 3 ASX shares to cash in on China’s reopening to the world: Jun Bei Liu
• I think Coles shares are a top ASX 200 buy for 2023
• ‘Fierce competitor’: Expert names 2 big brand ASX shares ready to take off in 2023

Motley Fool contributor Monica O’Shea 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 positions in and has recommended Coles Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The New Hope Corporation Limited (ASX: NHC) share price had a tough run on the market today.

New Hope shares sunk 9% to finish at $5.84. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) closed 1.84% in the red.

Let’s take a look at what weighed on this ASX 200 coal share today.

What’s going on?

New Hope was not the only ASX 200 coal share to decline today. Whitehaven Coal Ltd (ASX: WHC) shares lost nearly 7%, while Coronado Global Resources Inc (ASX: CRN) shares slipped more than 2%.

A decline in the coal price may have weighed on coal explorers today. The Sydney Morning Herald reported coal prices fell 12.7%, impacting the coal sector.

Asia-Pacific coal, the leading thermal coal index, dropped 10% to its lowest level in 9 months this week, Montel Group reported.

New Hope has not reported any price-sensitive news to the market this year. However, in 2022, New Hope delivered a record return to shareholders on the back of “record coal prices”.

The Federal Government’s office of the chief economist is predicting the metallurgical coal price to fall from US$404 a tonne in FY22 to US$262 in FY23.

However, thermal coal prices are forecast to grow from US$245 a tonne in FY22 to US$360 a tonne in FY24.

New Hope is predicted to pay the highest dividend yield of any ASX 200 share in FY24. Consensus estimates tip a dividend yield of 19.5%, my Foolish colleague James reported this week.

Morgans is tipping an 80 cent per share dividend yield in 2024, while Citi analysts predict the dividend could be a whopping $1.93 a share.

New Hope share price snapshot

The New Hope Corporation share price has fallen nearly 160% in the last year.

New Hope has a market capitalisation of more than $5 billion based on the current share price.

The post Why did ASX 200 coal share New Hope Corporation sink 9% today? appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX 200 share is projected to pay the biggest dividend yield in FY24?
• Here are the top 10 ASX 200 shares today
• Can ASX 200 coal shares really deliver dividend yields of over 10% in FY24?
• ASX 200 to yield 4.4% in 2023. These 2 dividend shares pay more than twice that
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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ASX 200 lithium shares are having a mixed day on the market, with multiple explorers in the red after rising in earlier trade.

Lithium developers on the ASX 200 include Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO), Sayona Mining Ltd (ASX: SYA), Mineral Resources Ltd (ASX: MIN) and Allkem Ltd (ASX: AKE).

Let’s take a look at what is going on with ASX 200 lithium shares today.

Lithium explorers bounce around

Multiple lithium shares are now in the red after lifting in earlier trade. However, some ASX lithium shares remain in the green, despite retreating from their daily high.

• Pilbara Minerals shares are falling 1.76% after rising 2.9% in early trade
• Allkem shares are down 0.65% after climbing 2.16% in earlier trade
• Mineral Resources shares are 2.24% in the red after leaping 0.21% this morning 
• Core lithium shares are up 1.34% after rising 3.1% in morning trade
• Sayona Mining shares are rising 4.55% after charging 5.45% in earlier trade

ASX 200 lithium shares appear to be following a similar trend to major USA lithium shares. For example, Livent Corp (NYSE: LTHM) rose 3.7% in early trade on the New York Stock Exchange before retreating to finish 1.14% in the red. Albermarle Corporation (NYSE: ALB) soared 5.2% in early trade before pulling back to finish 3% in the green. And Sociedad Quimica y Minera de Chile (NYSE: SQM) leapt 2.7% in morning trade before finishing 1.51% ahead.

Lithium demand and supply, the lithium price and electric vehicle demand and supply are all factors that can impact lithium shares.

The lithium hydroxide price closed 0.38% lower on the London Metal Exchange. The lithium carbonate price is unchanged at 477,500 Chinese Yen per tonne, according to trading economics data.

In news this afternoon, a China consortium is planning to develop lithium deposits in Bolivia. The Bolivian government has chosen a Chinese group led by Contemporary Amperex Technology to invest more than $1 billion to develop untapped lithium deposits, Nikkei Asia reported this afternoon. Bolivia is said to have the largest lithium reserves in the world. This could be weighing on demand sentiment for lithium.

Meanwhile, analysts at Bell Potter have retained a buy rating on the Mineral Resources share price with a $110 price target, my Foolish colleague James reported today. The broker is positive on the company’s potential for earnings growth and commodity prices.

Share price snapshot

The Pilbara Minerals share price has soared 59% in the last year.

The Core Lithium share price has risen 59% in the past 52 weeks.

The Sayona Mining share price has soared 128% in the last year.

Mineral Resources shares have soared 71% in the past year.

Allkem shares have returned 55% in the past 52 weeks.

The post What’s with ASX 200 lithium shares today? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• Brokers name 3 ASX shares to buy now
• Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping
• Mineral Resources share price falls on Goldman Sachs downgrade
• Invested $1,000 in Mineral Resources shares 10 years ago? Here’s how much passive income you’ve made

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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It’s looking like the S&P/ASX 200 Index (ASX: XJO) will have a positive end to the trading week at this point of Friday’s trading session.

At the time of writing, the ASX 200 has gained a healthy 0.4%, which puts it back over the 7,500 point mark for the first time since April 2022. The Index is now up a rather extraordinary 8% in 2023 to date.

So time now to delve a little deeper into these market moves by checking out the shares currently at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Whitehaven Coal Ltd (ASX: WHC)

ASX 200 coal miner Whitehaven is our first share worth a look this Friday. So far today, a hefty 14.46 million Whitehaven shares have been swapped on the markets. This is almost certainly a result of the nasty share price fall this company has copped.

At present, Whitehaven has lost 6.47% of its value this session, and is now going for $8.46 a share.

It’s not entirely clear why Whitehaven is getting such a thumping today, although we went into some possible reasons earlier. But regardless, it’s this drop that is almost certainly to blame for the high volumes we are seeing.

Liontown Resources Ltd (ASX: LTR)

Next up this session, we have ASX 200 lithium share Liontown Resources. Today has had a sizeable 18.14 million Liontown shares change hands as it currently stands. There’s been no news out of Liontown today either.

But that hasn’t stopped this lithium company from leaping a pleasing 3.9% at present to $1.60 a share, which explains why we are seeing high trading volumes right now.

Liontown fared even better earlier today too, going as high as $1.68 a share. Liontown joins many other lithium shares in having an especially pleasant end to the trading week.

Pilbara Minerals Ltd (ASX: PLS)

Speaking of, our third, final, and most traded ASX 200 share of the day is another lithium stock in Pilbara Minerals. This Friday has seen a whopping 23.46 million PIlbara shares fly around the ASX boards thus far.

Unfortunately for investors, Pilbara is one of the lithium shares not rising today. In fact, the company is rapidly going the other way, recording a nasty loss of 3.42% at present to $4.94 a share. That’s despite Pilbara initially rising as high as $5.26 a share this morning.

Perhaps investors didn’t like the announcement this morning that John Stanning has been appointed to the newly created position of chief development officer at the company.

Whatever the reason for Pilbara’s losses today, this is probably the cause of the high volumes on display.

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

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More reading

• Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today
• Why is the Whitehaven Coal share price tanking 6% today?
• Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping
• Lithium giant forecasts 15% greater demand. How are ASX lithium shares reacting?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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 Scott Phillips.

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The team at Morgans has been looking over the consumer discretionary sector ahead of earnings season.

The good news for investors is that the broker is positive on the sector as a whole. So much so, it has named a total of eight ASX retail shares to buy right now.

What is Morgans saying about ASX retail shares?

Morgans notes that consumer spending has remained surprisingly strong despite rising interest rates. This even led to the biggest Christmas period for retailers on record in 2022. It commented:

Australian consumer sentiment has been in the doldrums. Preoccupied by the impact of higher home loan and rental payments on household finances already feeling the effects of the highest rates of inflation in 30 years, consumers indicated throughout 2022 that they intended to tighten their belts and pull back on their discretionary expenditure. And yet, retail sales continue to rise faster than market expectations. The Australian Retailers Association recently commented that last Christmas saw ‘without a doubt the biggest festive spend on record’.

In light of the above, the broker suspects that a number of ASX retail shares could report strong results next month. Combined with the prospect of inflation easing and the RBA slowing its interest rate hikes, it believes analysts may be forced to upgrade their earnings estimates meaningfully. It explained:

We do expect consumer demand to soften over the course of 2023, especially as a high proportion of fixed rate mortgages roll off. But with the prospect of inflation easing and with the possibility that the RBA will pause its relentless series of rate hikes, we think the market may have overestimated the extent of the weakness in the year ahead. We could see earnings upgrades in the retail sector during February as analysts adjust to better than expected numbers in 1H FY23 and the emerging prospect of a more gentle decline in 2H FY23.

Which shares should you buy?

The eight ASX retail shares in the consumer discretionary space that Morgans rates as a buy are as follows:

• Beacon Lighting Group Ltd (ASX: BLX) with a price target of
• Breville Group Ltd (ASX: BRG)
• Domino’s Pizza Enterprises Ltd (ASX: DMP)
• JB Hi-Fi Limited (ASX: JBH)
• Lovisa Holdings Ltd (ASX: LOV)
• Step One Clothing Ltd (ASX: STP)
• Super Retail Group Ltd (ASX: SUL)
• Universal Store Holdings Ltd (ASX: UNI)

However, of the eight, its key picks are Beacon, JB Hi-Fi, and Universal Store.

Commenting on Beacon, for which it has an add rating and $2.60 price target, the broker said:

The potential of the Trade strategy is underestimated. We expect it will allow BLX to continue to grow earnings positively even as retail demand softens.

As for JB Hi-Fi, which the broker has an add rating and $53.00 price target on, Morgans said:

We think the market overestimates the extent of the likely slowdown in sales in 2H23, resulting in a P/E that’s too low and a dividend yield that’s too high.

Finally, Universal Store, which Morgans has an add rating and $6.70 price target on, the broker commented:

We believe this is one of the most underrated retailers on the ASX. It offers network growth, resilient demand, price and cost discipline.

The post Morgans names 8 ASX retail shares to buy appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 2 ASX dividend shares to buy now
• Here are the top 10 ASX 200 shares today
• Buy and hold these fantastic ASX growth shares: experts
• Analysts say these growing ASX dividend shares are buys right now
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, Lovisa, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool Australia has recommended Domino’s Pizza Enterprises, Jb Hi-Fi, and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you are looking to strengthen your portfolio with some blue chip ASX 200 shares, you may want to look at the two listed below that have been tipped as buys by experts.

Here’s why these blue chip shares are highly rated right now:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share for investors to look at is Goodman Group.

Goodman is a specialist global industrial property group that owns, develops, and manages high-quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy.

Among its $77.8 billion portfolio are properties leased to giants including Amazon, Coles Group Ltd (ASX: COL), DHL, and Walmart.

But Goodman isn’t resting on its laurels and has $13.8 billion of development work in progress across 85 projects. Pre-commitments remain high across this workbook with completions 100% committed and work in progress 68% committed. Pleasingly, the latter has a yield on cost of 6.4%, which should be supportive of further solid earnings growth in the future.

UBS is positive on Goodman’s outlook. So much so, this morning the broker upgraded its shares to a buy rating with a $23.00 price target.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX 200 blue chip share that have been tipped as a buy is Treasury Wine.

It is one of the world’s leading wine companies and the owner of a portfolio of popular wine brands. This includes 19 Crimes, Blossom Hill, Lindeman’s, Wolf Blass, and the jewel in the crown, Penfolds.

Treasury Wine has been tipped to deliver strong growth in the coming years thanks to the success of its premiumisation strategy, strong demand in the United States, and the successful reallocation of its China portfolio into other markets.

Morgans is very positive on its outlook and believes the “foundations are now in place for TWE to deliver strong earnings growth […] over the next few years.”

Morgans has an add rating and $15.71 price target on its shares.

The post Experts say these are the ASX 200 blue chip shares to buy now appeared first on The Motley Fool Australia.

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More reading

• House prices are tanking. Will ASX property shares go down with them?
• 3 ASX shares to cash in on China’s reopening to the world: Jun Bei Liu
• 3 of the best ASX 200 shares to buy in 2023: Bell Potter
• 3 ASX 200 shares smashing new 52-week highs on Wednesday
• Here are the top 10 ASX 200 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 has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Australian home values are falling at their fastest rate since the global financial crisis, so will ASX property shares go down with them?

According to CoreLogic data, home prices fell 5.3% in 2022. Back in 2008, they dropped 6.4%. (These numbers combine all types of residential properties — houses, townhouses, and apartments).

The price declines in 2022 were greatest in Sydney (down 12.1%) and Melbourne (down 8.1%).

But what happened to ASX property shares?

If home values drop, will ASX property shares fall too?

Let’s take a look at what happened to ASX property shares or real estate investment trust (REITs) in 2022.

Real estate is one of the 11 sectors of the ASX. Over 2022, the S&P/ASX 200 A-REIT Index (ASX: XPJ) fell 24%. This compares to a 5.5% drop in the benchmark S&P/ASX 200 Index (ASX: XJO).

As seen here, individual results among the REITs varied substantially.

This is the top 10 ASX property shares by market capitalisation:

ASX property share	Price movement in 2022
Goodman Group (ASX: GMG)	-35%
Scentre Group (ASX: SCG)	-9%
Vicinity Centres (ASX: VCX)	+18%
Stockland Corporation Ltd (ASX: SGP)	-14%
Mirvac Group (ASX: MGR)	-27%
GPT Group (ASX: GPT)	-22.5%
Dexus Property Group (ASX: DXS)	-30%
Charter Hall Group (ASX: CHC)	-42%
Lendlease Group (ASX: LLC)	-27%
Charter Hall Long WALE REIT (ASX: CLW)	-12%

Why did ASX property shares fall in 2022?

The important thing for investors to note is that the bulk of REITs are either not associated with the residential housing market, or have only limited exposure.

Most of them hold portfolios comprising retail property, offices, and industrial property such as warehouses and shopping centres. There are exceptions, of course, like apartment developer Mirvac Group.

However, in a climate of rising interest rates, ASX REITs with substantial debt or leveraging will be affected. Why this occurs is obvious — interest costs are rising, while property values are falling.

The REIT companies that build property have also been subject to the rising costs of inputs like timber due to inflation and ongoing global supply chain disruptions.

ASX property shares can also be affected by falling land values in a market downturn. This reduces the value of the assets on their books.

But remember, most of these REITs are not holding property with the aim to sell it and distribute capital gains to shareholders. REITs are traditionally much more of a yield play than a growth play.

And therein lies an opportunity with REIT shares for investors today.

REITs are reliable dividend payers

ASX property shares tend to involve commercial property, and average tenancies are much longer term than residential leases. Traditionally, rental returns are steadier, hence distributions are relatively stable.

REIT yields are presently higher because share prices fell so much in 2022.

One of the highest dividend payers among ASX property shares is the Centuria Office REIT (ASX: COF). Its share price dropped 35% last year and it is $1.60 today. That gives it a trailing dividend yield of 9.5%.

There are also ASX property shares that aim to deliver more share price growth than yield. Goodman Group is a great example.

Over the past five years, the Goodman share price has risen by 150%. That includes the 25% decline in 2022. So, that’s an average annual share price gain of 30% per year. A residential property could never match that. Goodman is forecasting an 11% growth in earnings per share (EPS) for FY23.

Should I buy property or shares?

Whether ASX shares or property is a better investment is an age-old debate among investors that will rage on forever. Ideally, a bit of both is the way to go because it provides investment diversification.

But if you had to choose one, ASX shares might be more appealing for several reasons.

The scale of initial investment is probably the biggest drawcard of shares. ASX shares investing allows you to start with lower funds, so you can use savings instead of borrowings to get started. They’re certainly less hassle, and there are no holding costs (outside of the interest on any margin loan you get to invest).

But the capital gain you’ll get from ASX property shares is likely to be smaller. Over the past five years, the A-REIT index has risen by only 7%.

So, investors who choose shares over bricks-and-mortar property might pick a few ASX growth shares for capital gains and some ASX dividend shares (perhaps including property shares) for reliable income.

The post House prices are tanking. Will ASX property shares go down with them? appeared first on The Motley Fool Australia.

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More reading

• Experts say these are the ASX 200 blue chip shares to buy now
• 3 of the best ASX 200 shares to buy in 2023: Bell Potter
• ASX income stocks: A once-in-a-decade chance to get rich?
• Buy these ASX passive income shares now: experts
• 3 ASX 200 shares tipped to rise higher: experts

Motley Fool contributor Bronwyn Allen has positions in Goodman Group. 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 Scott Phillips.

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It’s been a fairly pleasant day of trading for the S&P/ASX 200 Index (ASX: XJO ) so far this Friday. At the time of writing, the ASX 200 has added a decent 0.45%, putting the index at bang on 7,500 points. But ASX 200 tech shares are having an even better day.

Tech shares are on fire this Friday. At present, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is the best-performing sector on the market, up by an impressive 1.47% at present.

Tech shares are amongst the ASX 200’s best individual share performers too. Just take the market-leading Megaport Ltd (ASX: MP1) share price right now. It’s in the ASX 200’s vanguard at present, recording a gain of 5.63% to $7.32 a share:

WiseTech Global Ltd (ASX: WTC) shares are also standout performers. This WAAAX veteran is up a pleasing 4.37% at $58.55 a share right now.

TechnologyOne Ltd (ASX: TNE) shares have gained more than 3.5%, while the share prices of NEXTDC Ltd (ASX: NXT), Xero Limited (ASX: XRO) and Block Inc (ASX: SQ2) are all beating the market, having recorded gains over 1% at present.

So what’s going on with ASX 200 tech shares today that has this sector leading the entire market?

Why are ASX tech shares on fire this Friday?

Well, it could be down to a couple of factors.

Firstly, US tech shares had a very impressive session overnight (our time). The tech-heavy NASDAQ 100 Index closed a healthy 2% higher at back over 12,000 points last night.

This was driven by healthy moves like Amazon.com Inc (NASDAQ: AMZN) shares lifting by 2%, Alphabet Inc (NASDAQ: GOOGL) rising 2.42%, and Facebook and Instagram owner Meta Platforms Inc (NASDAQ: META) rocketing by 4.1%.

But Tesla Inc (NASDAQ: TSLA) stole the show, surging by a whopping 10.97% to US$160.27 after reporting some impressive quarterly earnings numbers:

So with all of these US tech shares enjoying such a stellar run last night, ASX tech shares were always going to be primed for a strong showing.

But secondly, some ASX news might be at play here as well. As my Fool colleague James covered this morning, ASX broker Morgans has upgraded its rating on Megaport shares. The broker now rates Megaport as an add, with a 12-month share price target of $9 – still well above the $7.38 it is asking at present.

But not only that, Morgans also stated that it has become increasingly bullish on most quality ASX tech shares:

Valuations for quality tech are now back to 20 year / long run averages (fair value)… Quality tech can grow regardless of weak economic conditions. Profit growth should reignite interest in the tech sector once again and this profit growth should drive share price appreciation.

So it could be a combination of these factors that is lifting ASX 200 tech shares so convincingly this Friday.

The post These ASX 200 tech shares are leading the market today appeared first on The Motley Fool Australia.

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More reading

• Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today
• Why is this ASX 200 tech share racing 6% higher today?
• ASX 200 tech share WiseTech wobbles on $327 million US acquisition
• Here are the top 10 ASX 200 shares today
• 5 ASX 200 shares rocketing to new 52-week highs on Tuesday

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, 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. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon.com, Meta Platforms, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon.com, Block, Megaport, Meta Platforms, Tesla, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, WiseTech Global, and Xero. The Motley Fool Australia has recommended Alphabet, Amazon.com, Megaport, Meta Platforms, and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Accent Group Ltd (ASX: AX1)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this footwear retailer’s shares to $2.75. This follows the release of a stronger than expected trading update, which has led to Goldman making material upgrades to its earnings estimates. All in all, the broker believes this update reinforces its positive view on the strength of younger consumers. This is good news for Accent given the majority of its customer base is aged 18-35. The Accent share price is trading at $2.09 on Friday.

Iluka Resources Limited (ASX: ILU)

Another note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating on this mineral sands producer’s shares with an improved price target of $12.60. Goldman was pleased with Iluka’s quarterly update, noting that the company reported stronger than expected zircon and rutile sales volumes and realised prices. Goldman remains positive on the future due to the global supply of high grade TiO2 feedstock and zircon remaining tight. The Iluka share price is fetching $11.12 this afternoon.

Mineral Resources Ltd (ASX: MIN)

Analysts at Bell Potter have retained their buy rating and lifted their price target on this mining and mining services company’s shares to $110.00. The broker made the move mainly due to increases in its forecast commodity prices and realisation factors. In addition, over the next two years the broker is expecting the company’s business transformation to deliver significant earnings growth. The Mineral Resources share price is trading at $92.28 on Friday afternoon.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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More reading

• Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping
• Mineral Resources share price falls on Goldman Sachs downgrade
• Invested $1,000 in Mineral Resources shares 10 years ago? Here’s how much passive income you’ve made
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 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 has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The BHP Group Ltd (ASX: BHP) share price is leaping higher today.

BHP shares are currently up 1.01% to $49.735. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) share price is climbing 0.45% today.

Let’s take a look at what could be weighing on the BHP share price today.

What’s going on?

BHP is not the only iron ore producer in the green today. The Rio Tinto Ltd (ASX: RIO) share price is up 1.12%, while the Fortescue Metals Group Limited (ASX: FMG) share price is climbing 1.09%.

Iron ore China futures are currently up 0.53% on the Singapore Exchange at last look.

China expert and director of iron ore research Philip Kirchlechner is optimistic strong iron ore demand can continue, The Western Australian reported.

Copper prices also remained elevated overnight at US $9,300 per tonne. Commenting on the movement of commodities, ANZ rates strategist Jack Chambers said in a research note this morning:

Copper held steady above USD9300/t. Supply issues and strong demand prospects from China are limiting any profit taking even after prices rising 12% this month.

Iron ore prices traded sideways in absence of guidance from the Chinese market.

BHP is proposing to acquire 100% of copper explorer OZ Minerals Limited (ASX: OZL). A scheme meeting to approve the potential takeover is due in late March or early April. BHP also entered a deal with Canadian company Mundoro Capital Inc. (TSXV: MUN) to explore copper in Serbia this week.

Meanwhile, Fortescue’s record half iron ore production may also be providing optimism in ASX 200 iron ore shares today. Executive chairman Dr Andrew Forrest said:

The Fortescue team delivered our highest ever December quarterly shipments of 49.4 million tonnes, our best ever half year.

BHP share price snapshot

The BHP share price has jumped 22% in the last year.

BHP has a market capitalisation of about $251 billion based on the current share price.

The post Why is the BHP share price in the green today? appeared first on The Motley Fool Australia.

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More reading

• How to generate $50,000 of passive income from BHP shares
• The BHP share price has had a stellar start to 2023. Is it too late to buy?
• Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023
• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Move over bank deposits! These ASX 200 mining shares are forecasting yields of over 5%

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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