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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is sliding on Thursday amid the bank’s annual general meeting (AGM) and a shareholder vote on a major structural change.

Right now, the ANZ share price is 0.23% lower at $23.955.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.53% at the time of writing. Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFJ) has slumped 0.25%.

So, what’s happening with the smallest of the big four banks today? Let’s take a look.

ANZ share price slips amid ‘milestone day’

The ANZ share price is in the red this afternoon. Its struggles follow the bank’s AGM and a shareholder vote on a structural change. ANZ chair Paul O’Sullivan commented on the change first flagged earlier this year, saying:

This is a milestone day as we prepare the bank for the future.

The vote relates to a restructure that seeks to establish a new non-operating holding company to be the listed parent of the banking group. Such a change will allow ANZ’s banking business to be separated from some of its non-banking businesses.

It will not impact shareholders’ dividends or the bank’s financial position. O’Sullivan explains:

[T]raditional banking is facing significant disruption from new non-bank competitors, mainly global technology companies launching financial services products.

Understandably, these businesses are not regulated in the same way as banks like ANZ.

Essentially, the restructure is about making our banking business more efficient by creating a better structure for investing in our non-bank partners.

If approved by shareholders, the restructure will be put before the Federal Court of Australia.

If successful there, the change will see ANZ operating in a way similar to financial names such as Suncorp Group Ltd (ASX: SUN) and Macquarie Group Ltd (ASX: MQG).

It’s also expected that we’ll see ANZ shares suspend trade on 20 December, returning on 4 January under the new structure.

What else happened at the AGM?

ANZ’s leaders also discussed the operating environment the bank finds itself in at today’s AGM. O’Sullivan commented:

After almost three years of living with COVID, the operating environment remains highly uncertain stemming from rapidly rising inflation, geopolitical tensions – most notably the War in Ukraine – and the impact of rapidly tightening monetary policy across the globe.

While most Aussie households are in good financial shape, the chair acknowledged rising cost of living pressures are straining some. “The next six months will be testing for many,” O’Sullivan said.

The bank will therefore keep its hardship resources – implemented during the pandemic – in place for those who need them.

ANZ also provided an update on its ANZ Plus platform. Deposits on the platform are growing faster than any new bank ever launched in Australia, ANZ CEO Shayne Elliott told the meeting:

Today, we have more than 113,000 customers – around a third of which are new to the bank – and over $2.3 billion in deposits.

To put this into better perspective, those numbers have more than doubled since we announced our result at the end of October.

The platform also launched a staff pilot for the bank’s new digital home loan this month. It’s expected to be introduced to all customers next year. Elliott said:

To be clear, this will not be a fancy digital frontend but paper-based backend like many in the market offer today, but a fully digital end-to-end experience from application all the way through to settlement.

The post What’s with the ANZ share price on Thursday? appeared first on The Motley Fool Australia.

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More reading

• The ANZ dividend is being delivered today. Here’s what you need to know
• Why is the ANZ share price marching higher on Tuesday?
• Could this help ANZ close the gap on its ASX 200 competitors?
• Could the VAS ETF outperform the BHP share price in 2023?
• I’d buy 6 shares a week of this ASX stock for $1800 a year in passive income

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 recommended Macquarie 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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S&P/ASX 200 Index (ASX: XJO) shares are still awaiting the sound of reindeer hooves to announce the vaunted Santa Rally.

The Santa Rally, if you’re unfamiliar, refers to the historical tendency for stock markets to outperform in the lead up to Christmas.

Depending on who you ask, the rally is meant to occur either in the five trading days leading up to Christmas, or the last five trading days of the year.

Whatever the timeline, with ASX 200 shares down 0.6% so far in December, a late-month rally would be welcomed.

But data from Bank of America suggests that investors may want to look beyond the man in the red suit and position themselves for a strong run from the benchmark index in January.

Why January could be big for ASX 200 shares

While January 2022 was a shocker for ASX 200 shares, the previous two years saw a strong uptick in the first month of the year.

What happens in 2023 remains to be seen. But, as reported by the Australian Financial Review, Bank of America’s equity analysts said January “typically” kicks off with strong retail investor buying.

According to the analysts, January is normally the strongest month for equity inflows. Driven by retail investors, BofA has recorded client inflows for 11 out of the past 15 years.

That trend is particularly strong when the S&P 500 Index (SP: .INX) has fallen in the prior year, with inflows in January reported to be well above average.

And with the S&P 500 down almost 17% year to date, 2022 looks almost certain to fall into the down year category.

Narrowing it down to specific ASX 200 sectors, financial shares were said to typically have enjoyed the biggest average inflows in January. Consumer discretionary shares, perhaps because it’s right after the big holiday splurges, have normally seen outflows.

Whatever the timing of the next big market rally turns out to be, investors still sitting on the sidelines will merely be spectators.

The post Forget the Santa Rally: Why January could be big for ASX 200 shares appeared first on The Motley Fool Australia.

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More reading

• Why is the Core Lithium share price cratering 8% today?
• Can you time the stock market with ASX value investing?
• Is Qantas stock a cheap ASX 200 buy right now?
• ASX 200 shares slump amid Fed 5% fears
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Bernd Struben 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 been a brutal day for the Core Lithium Ltd (ASX: CXO) share price this Thursday. At the time of writing, Core Lithium shares have lost a painful 8.41%, falling from $1.16 at market close yesterday to the $1.067 a share that we currently see.

The S&P/ASX 200 Index (ASX: XJO) is also having a rough day. But it still looks peachy by comparison, ‘only’ down by 0.5% at present.

Core Lithium has still had an incredible year. Despite some major falls recently (including today’s), Core Lithium shares remain up by more than 68% in 2022 thus far:

But what’s going on with Core Lithium that would prompt investors to send this ASX 200 lithium producer down by more than 8% today?

Well, it has nothing to do with anything out of the company itself. Core Lithium has made no ASX announcements since 5 December.

So it looks as though Core Lithium shares have taken the brunt of the pessimism that the markets are feeling today over the recent decision of the US Federal Reserve. As we covered this morning, the US Fed decided to hike American interest rates by 0.5% overnight to a target range of 4.25% to 4.5%.

What really seems to have rattled investors though is Fed chair Jay Powell’s hawkish comments that, “It is our judgment today that we are not at a sufficiently restrictive policy stance yet. We will stay the course until the job is done”.

Higher interest rates are not good for shares in general. But they are especially damaging to the prospects of companies that are priced on their future prospects. That arguably includes Core Lithium.

Bad news all around for lithium shares

Further, we got the news this morning that Core Lithium’s fellow lithium share Pilbara Minerals Ltd (ASX: PLS) received softer-than-expected prices for its latest lithium auction. Not exactly inspiring stuff for the ASX lithium space.

Pilbara was also recently the subject of some tough love from an ASX broker. As my Fool colleague James covered this morning, ASX broker Morgans has just indicated that it thinks the Pilbara share price may be close to peaking.

So we see to have a perfect cocktail of negative news for lithium shares like Core Lithium today. Therefore it’s perhaps no wonder that the Core Lithium share price has taken such a beating.

The post Why is the Core Lithium share price cratering 8% today? appeared first on The Motley Fool Australia.

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More reading

• Can you time the stock market with ASX value investing?
• Why are ASX 200 lithium shares sinking like stones on Thursday?
• Is Qantas stock a cheap ASX 200 buy right now?
• ASX 200 shares slump amid Fed 5% fears
• Here are the old and new energy ASX 200 shares that investors were buying last month

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 S&P/ASX 200 Materials Index (ASX: XMJ) is 1.26% in the red today, but one ASX gold share is soaring far higher.

The Peregrine Gold Ltd (ASX: PGD) share price is rising 30.51% today and currently trading at 38.5 cents.

Let’s take a look at what could be impacting this ASX gold share today.

What’s happening?

Peregrine is a gold and lithium explorer working on multiple projects in Western Australia.

Investors are buying up Peregrine shares today on the back of news from the company’s Newman Gold Project in Western Australia.

Ultra high-grade gold and silver were discovered within the Birdnest Prospect.

Gold grades of up to 122,497 grams per tonne and silver grades of up to 26,234 grams per tonne were returned from sampling of a quartz-ironstone vein exposed by costeans at the prospect.

Further, rock sampling at the Pensinula Prospect returned grades of up to 247 grams per tonne of gold and 63 grams per tonne of silver.

Commenting on the news, Peregrine technical director George Merhi said:

Our work at the Newman Project continues to identify ultra-high-grade gold and silver mineralisation.

This costean programme conducted after the RC drilling has provided valuable information on the orientation of the mineralisation in 2D.

This style of mineralisation now requires precise surgical diamond drilling to resolve continuity in 3D or down plunge. Additional costeans will now also be cut at Peninsula as we prepare for diamond drilling in Q1 23.

Peregrine share price snapshot

The Peregrine Gold share price has risen 4% in the last year.

Peregrine has a market capitalisation of $14.92 million based on the current share price.

The post Why did this ASX gold share just rocket 31%? appeared first on The Motley Fool Australia.

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More reading

• Why is the Core Lithium share price cratering 8% today?
• Can you time the stock market with ASX value investing?
• Why are ASX 200 lithium shares sinking like stones on Thursday?
• Is Qantas stock a cheap ASX 200 buy right now?
• Why Australian Ethical, Breville, Iluka, and Pilbara Minerals shares are tumbling 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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Stock market downturns may be difficult for long-term investors to stomach, but they offer a major silver lining for those looking to invest in ASX value shares.

Tough times can bring down the share prices of quality ASX companies – effectively creating a sale on stocks.

Value investors tend to look for quality businesses with plenty of growth prospects that are trading at attractive prices. In other words, they aim to buy shares for less than their intrinsic value and wait for the market to clue on.

And the more the market – and share prices – fall, the more likely value investors are to deem prices ‘attractive’.

Now, that all sounds fine and dandy, but if investing during a downturn were that simple we’d all likely be ASX millionaires.

So, how might one go about timing the stock market when value investing? There is a strategy that might help mitigate such challenges.

The pitfalls of investing in ASX value shares

Most value investors will agree that timing the market is one of the trickiest, nay, near impossible aspects of investing.

There are plenty of metrics available to help determine if an ASX stock is trading at less than its intrinsic value – such as price-to-earnings (P/E) and price-to-book (P/B) ratios. However, there’s no such simple way to know if the market has finished bidding an ASX value share down.

There’s nothing quite so disappointing as snapping up a ‘bargain’, only to see its share price tumble further over the coming weeks and months.

Unfortunately, the only way to truly see the bottom of a market downturn is with hindsight. Though, there’s one strategy I would use to mitigate the risks of value investing.

Buying in thirds

One way to offset some – but not all – of the risks of investing in ASX value shares during a downturn is to buy a third of a planned parcel at a time.

Let’s imagine I was planning to invest $1,000 in a share I believe to be good value but was worried it might still have a way to fall.

I would invest just $333 when I recognised it as a stock worth buying. If it then continued to fall, I would invest another $333. If it plummeted even further, I would buy another $333 worth – assuming I still consider the figurative value share to be worthy of a spot in my portfolio.

By employing this rule I ensure that, if my investment’s value continues to tumble, I’ve stretched my money further than I would have otherwise.

Meanwhile, if the stock trades flat over my considered time frame I wouldn’t come out any better or worse.

Finally, if my investment rockets before I buy my second or third parcel, I would still garner some exposure to a value share at its cheapest and be on track to benefit from a stock market recovery.

Of course, risks can also be partially offset by building a diverse portfolio of ASX shares.

The post Can you time the stock market with ASX value investing? appeared first on The Motley Fool Australia.

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More reading

• Is Qantas stock a cheap ASX 200 buy right now?
• ASX 200 shares slump amid Fed 5% fears
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Why Thursday could be huge for ASX 200 shares

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 Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) lithium shares are having a day to forget on Thursday.

As we head into the lunch hour here’s how some of the top lithium stocks are faring:

• Pilbara Minerals Ltd (ASX: PLS) shares are down 10.6%
• Core Lithium Ltd (ASX: CXO) shares are down 8.6%
• Allkem Ltd (ASX: AKE) shares are down 5.6%

See what we mean about a day to forget for ASX 200 lithium miners.

So, what’s going on?

What are ASX 200 investors considering?

ASX 200 lithium shares look to be taking a hit on several fronts.

While the ASX 200 is down 0.3% at the time of writing, the materials sector is doing it far tougher, with the S&P/ASX 200 Materials Index (ASX: XMJ) down 0.8% at this same time.

ASX 200 lithium shares are falling a lot harder than that, of course,

Part of that looks to be thanks to the overnight 0.50% rate hike by the US Federal Reserve.

While that was largely expected, Fed chair Jerome Powel indicated the official interest rate in the world’s top economy would reach 5.1% next year. That’s higher than the market had previously priced in.

With Powell stating, “We still have some ways to go,” growth stocks like ASX 200 lithium shares are coming under added pressure.

Then there’s the outlook for lithium prices.

Lithium prices have hit all-time highs this year, an obvious boon for the big lithium companies.

But a growing number of analysts are beginning to align with Goldman Sachs’ rather bearish mid-term outlook for lithium prices.

Demand from China, the world’s largest EV producer, may slow amid a rocky reopening and reports that battery makers overproduced the needs of EV manufacturers this year, leaving excess supply heading into 2023.

Citi is the latest broker to downgrade its outlook for lithium. The broker forecasts a 20% downside in its 12-month view, a price fall that would throw up significant headwinds for ASX 200 lithium shares.

According to Citi’s Paul McTaggart (courtesy of The Australian), “China’s reopening presents risks around expectations and, on a 12-month view, we see more downside than upside to our commodity basket.”

While Citi forecasts a modest upside for aluminium, McTaggart said they envision “over 20% downside for thermal coal, rutile/zircon, nickel and lithium”.

How have these ASX 200 lithium shares performed over the year?

As you can see in the charts below, the ASX 200 lithium shares have been giving back some of the stellar gains they posted earlier in the year.

Still, despite the retrace, the Pilbara share price remains up 52% over the past 12 months; the Core Lithium share price is up 105%; and the Allkem share price is up 37%

The post Why are ASX 200 lithium shares sinking like stones on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Why Australian Ethical, Breville, Iluka, and Pilbara Minerals shares are tumbling today
• Why is the Pilbara Minerals share price sinking 6% today?
• Here are the old and new energy ASX 200 shares that investors were buying last month
• Has Core dethroned Pilbara as the most talked-about ASX lithium share of the moment?
• ‘Not enough upside’ for Pilbara Minerals share price: Morgans

Motley Fool contributor Bernd Struben 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 Qantas Airways Limited (ASX: QAN) share price is under consideration by investors – is the S&P/ASX 200 Index (ASX: XJO) share a buy?

It has been a strong performer over the last four months, rising by around 30%.

The business can go up in price and be cheap, so just because it has risen doesn’t mean investors should ignore it.

Indeed, one leading broker recently called it attractive.

UBS calls Qantas share price attractive

The broker UBS is always on the lookout for good value businesses that could deliver strong performance.

According to reporting by The Australian, UBS analyst Richard Schellbach suggested that ASX transport shares look cheap on both a “share price and valuation” basis compared to pre-COVID levels, with a number of them trading at a lower share price and lower valuation compared to November 2019.

Schellbach said:

We are particularly drawn to the attractive relative value and price which both Qantas and SEEK Ltd (ASX: SEK) offer.

UBS has a buy rating on the Qantas share price with a price target of $7.60. That implies a possible rise of around 20%. The broker thinks the ASX 200 airline share is valued at 7x FY23’s estimated earnings and 6x FY24’s estimated earnings.

Latest update

A few weeks ago, the company revealed it was increasing its profit expectations for the first half of FY23, with underlying profit before tax guidance of between $1.35 billion to $1.45 billion. This is an increase of $150 million to the profit range given in early October 2022.

Net debt is expected to fall to between $2.3 billion and $2.5 billion by 31 December 2022.

The business said at the time that fuel costs remain “significantly elevated” compared to FY19 and are expected to reach $5 billion in FY23, which would be a record despite international capacity being around 30% below pre-COVID levels.

However, the oil price has been drifting lower in recent months, which can be a boost for the Qantas share price if it improves the ASX 200 share’s profit margins.

The airline explained why there appears to be so much demand at the moment:

Consumers continue to put a high priority on travel ahead of other spending categories and there are signs that limits on international capacity are driving more domestic leisure demand, benefiting Australian tourism.

Snapshot

Over the last month, the Qantas share price has gone up 6%.

The post Is Qantas stock a cheap ASX 200 buy right now? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 shares slump amid Fed 5% fears
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Why Thursday could be huge for ASX 200 shares
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and dropped into the red. At the time of writing, the benchmark index is down 0.2% to 7,239.9 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is down 5% to $4.49. Investors have been selling this fund manager’s shares following the release of a guidance update. The company revealed that it expects to report an underlying profit after tax and  before performance fees of $4.5 million to $5 million for the first half of FY 2023.

Breville Group Ltd (ASX: BRG)

The Breville share price is down over 4% to $18.86. This appears to have been driven by a broker note out of Credit Suisse. According to the note, the broker has downgraded this appliance manufacturer’s shares to an underperform rating with an $18.61 price target. The broker has concerns that consumer spending on household goods could weaken.

Iluka Resources Limited (ASX: ILU)

The Iluka share price is down 3.5% to $9.83. A broker downgrade also appears to be behind this decline. According to a note out of Citi, its analysts have downgraded the mineral sands producer’s shares to a sell rating with a $9.50 price target. The broker made the move partly on valuation grounds following a strong rally.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 11% to $4.06. This follows the release of a broker note out of Morgans, broad weakness in the lithium industry, and the results of the company’s latest lithium digital auction. The latter revealed a softening of lithium prices since last month, which appears to have spooked the market given recent bearish forecasts.

The post Why Australian Ethical, Breville, Iluka, and Pilbara Minerals shares are tumbling today appeared first on The Motley Fool Australia.

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More reading

• Why is the Pilbara Minerals share price sinking 6% today?
• Has Core dethroned Pilbara as the most talked-about ASX lithium share of the moment?
• ‘Not enough upside’ for Pilbara Minerals share price: Morgans
• 5 things to watch on the ASX 200 on Thursday
• Lithium, miners, and tech shares, oh my! Here’s where Aussies put their ASX money in 2022

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 positions in and has recommended Australian Ethical Investment. The Motley Fool Australia has recommended Australian Ethical Investment. 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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Finding ASX 200 dividend shares that consistently raise their payouts is a hard task.

High dividends can be hard to maintain over the business cycle, especially for companies that have cyclical earnings. This year has been a tough one for many ASX shares as well, with high inflation, rising interest rates, and a fall in household savings.

But some ASX dividend shares have managed to boost their payments over this difficult year. Some have even jacked them up by 10% or greater, which has well and truly kept them ahead of inflation.

So here are three such shares to check out today.

3 ASX dividend shares that have raised payouts by 10%

BHP Group Ltd (ASX: BHP)

ASX 200 mining giant BHP has made a name for itself as a monstrous dividend payer in recent years, thanks in large part to sky-high commodity prices. That record continued in 2022, with BHP paying out its highest dividends in history in Australian dollar terms this year.

Investors enjoyed an interim dividend of $2.08 per share back in March, and a final dividend of $2.55 per share in September. Both were fully franked.

That’s a total of $4.63 in dividends per share for 2022, which is a pleasing 15.02% increase over the $4.03 in dividends per share that investors received in 2021.

Washington H Soul Pattinson and Co Ltd (ASX: SOL)

Next up is the investing conglomerate Soul Patts. Soul Patts already has a formidable dividend record on the ASX, being the only ASX share on the market that has given its investors an annual dividend hike every single year since 2000. But this streak continued with aplomb in 2022.

This year, Soul Patts forked out an interim dividend worth 29 cents per share in May, and a final dividend of 43 cents per share this month. Again, both were fully franked. That’s a total of 72 cents per share.

That is a good 16.13% above the 62 cents per share investors got in 2021. And that’s not even including the special dividend of 15 cents per share that accompanied the final dividend this month.

National Australia Bank Ltd (ASX: NAB)

Finally, we have a familiar name in NAB. NAB, as an ASX 200 big four bank share, possesses a strong reputation as a formidable dividend payer.

Well, 2022 did nothing to dent that. NAB doled out an interim dividend of 73 cents per share, fully franked, in July. And it has just paid its final and fully franked dividend for 2022 yesterday – a fully-franked payment worth 78 cents per share.

That’s a total of $1.51 in dividend income per share for 2022, a nice 18.9% rise over the $1.27 in dividends per share investors received last year.

The post 3 ASX 200 dividend shares with payouts that jumped more than 10% this year appeared first on The Motley Fool Australia.

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More reading

• Here’s why BHP shares are this fund manager’s favourite ASX iron ore pick
• Lithium, miners, and tech shares, oh my! Here’s where Aussies put their ASX money in 2022
• BHP shares: 2 reasons to buy, and 2 to sell
• The NAB dividend is being dished out today. Here’s the lowdown
• Why did the BHP share price get hammered on Tuesday?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank and Washington H. Soul Pattinson And. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson And. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson And. 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 S&P/ASX 200 Index (ASX: XJO) is out of form on Thursday. In early afternoon trade, the benchmark index is down 0.2% to 7,235 points.

Four ASX shares that aren’t letting that hold them back today are listed below. Here’s why they are charging higher:

Cettire Ltd (ASX: CTT)

The Cettire share price is up 2.5% to $1.47. This morning, this online fashion retailer announced an agreement with fashion house, Zegna. This deal will see Cettire directly integrate the products from the Zegna brand into its platform. Cettire customers will have access to Zegna-branded products in all of Cettire’s markets, while benefiting from the company’s fulfilment capability, payment options, and post-sales support.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is up 3% to $6.60. This appears to have been driven by a broker note out of Ord Minnett this morning. Its analysts believe the drinks company’s shares are good value and have retained their buy rating with an $8.00 price target.

Global Lithium Resources Ltd (ASX: GL1)

The Global Lithium share price is up 2% to $2.06. Investors have been buying this lithium developer’s shares after it announced a “game-changing” mineral resource estimate upgrade for its two 100%-owned hard rock lithium projects in Western Australia. The highlight was arguably a 230% increase in the Manna Lithium Project’s mineral resource to 32.7Mt. Combined, this has lifted its mineral resource from 20.4Mt to 50.7Mt across its projects.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 3.5% to $10.16. This coal miner’s shares are lifting on Thursday after it was the subject of a bullish broker note out of Citi. According to the note, the broker has upgraded the company’s shares to a buy rating with an $11.10 price target. Strong coal prices drove the upgrade.

The post Why Cettire, Endeavour, Global Lithium, and Whitehaven Coal are charging higher appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX lithium share is surging 8% on ‘game-changing’ news
• Here are the old and new energy ASX 200 shares that investors were buying last month
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Bendigo Bank, Endeavour, TPG, and Zip shares are dropping today
• Why is the Endeavour share price sinking 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 Cettire. 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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