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The Origin Energy Ltd (ASX: ORG) share price is up 1.5% in afternoon trade on Tuesday.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy company closed yesterday trading for $7.19 and are currently trading for $7.30 apiece.

The rebound comes amid an overnight uptick in crude oil prices and despite the government’s proposed price cap on domestic gas and coal sales.

That proposal saw the Origin share price close down 7.8% yesterday.

Could the price cap jeopardise the $18 billion takeover?

On Friday, the Labor government announced its intention to implement a cap on gas prices in the domestic market at $12 per gigajoule. Thermal coal, used to generate electricity, would be capped at $125 per tonne for domestic sales under the plan.

The plan, supported by many domestic manufacturers, is opposed by both Aussie and international energy companies. Parliament will vote on the proposal this Thursday.

Chevron stated, “We are concerned by the proposals, which lacked consultation and are a significant departure from the open and market-based economic policies expected in Australia.”

Atop throwing up headwinds for the Origin share price, analysts have raised concerns that the price caps could derail or alter the indicative, conditional, and non-binding takeover proposal the company received from Brookfield Asset Management and MidOcean Energy.

The Origin share price soared 34.8% on 10 November after the company reported on the proposal to acquire it for $9.00 cash per share. That offer valued Origin at $18.4 billion on an enterprise value basis.

Origin’s board said it would recommend shareholders support the offer should it become binding. At the time, Brookfield Asset Management and MidOcean Energy were given due diligence access, a phase that is still underway.

RBC Capital Markets analyst Gordon Ramsay is among those who believe the newly announced price caps could impact the takeover.

According to Ramsay (courtesy of The Australian Financial Review):

We think this new legislation, the proposed new legislation, has potential to possibly trigger a material adverse change clause in the Brookfield and EIG $9-a-share bid for Origin Energy.

Under a price cap scenario, Origin would get lower pricing for its APLNG domestic gas sales volumes. This is mainly because of the short-term nature of its APLNG domestic gas supply contracts.

As for Brookfield Asset Management and MidOcean Energy, a spokesperson said, “The consortium notes the federal government’s announcement and will continue its evaluation throughout the due diligence process.”

Macquarie had a more bullish take on the impact of the price caps. The broker stated it did not expect the Origin share price to be materially impacted over the long term.

Origin share price snapshot

As you can see in the chart below, the Origin share price has enjoyed a strong year, up 44%.

That compares quite favourably to the 5% year-to-date loss posted by the S&P/ASX 200 Index (ASX: XJO).

The post Origin share price lifts despite price cap casting shadow over $18 billion takeover appeared first on The Motley Fool Australia.

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More reading

• Why is the Origin Energy share price dumping 8% on Monday?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Bigtincan, Nanosonics, Origin, and Tyro shares are sinking today
• 3 ‘boring’ ASX shares with returns over 25% in 2022
• Why Air New Zealand, Chalice, Evolution, and Origin shares are rising today

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 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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A dividend aristocrat is a very special thing. It is typically defined as a dividend share that has increased its annual dividend payouts to investors every year for at least 25 years.

Such a long and steady track record shows that a company is financially stable and strong enough to fork out such a large volume of cash consistently.

Over on the US markets, there are many dividend aristocrats. Some you might have heard of include Caterpillar Inc (NYSE: CAT), Exxon Mobil Corp (NYSE: XOM), and McDonald’s Corp (NYSE: MCD).

What’s more, is that the US markets also boast quite a few dividend kings. These fabled royals of the share market have a 50-year streak of annually raising their dividends. This list is a lot smaller but includes Coca-Cola Co (NYSE: KO), Colgate-Palmolive Company (NYSE: CL), and Altria Group Inc (NYSE: MO).

Does the ASX offer any dividend aristocrats?

Unfortunately, here on the ASX, we have no dividend aristocrats by the US definition. Let alone dividend kings.

But we do have a couple of ASX dividend heavyweights that come close. And they are two shares that I think any investor could comfortably buy and hold for the long term.

The first is Brickworks Limited (ASX: BKW). Brickworks is a building and construction materials company. But it also has a few other earning streams, including from its lucrative property business.

Brickworks has a strong dividend track record. It hasn’t raised its dividend for 25 consecutive years, so we can’t call it an official dividend aristocrat.

But what it does have is a 45-year history of not cutting its dividends. In other words, Brickworks has either maintained or increased its annual dividends every year since 1976. Definity heavyweight material.

Soul Patts: 3 years to go

The second is Washington H. Soul Pattinson and Co Ltd (ASX: SOL).

Soul Patts is the closest thing to a dividend aristocrat the ASX has. No, Soul Patts hasn’t quite got to 25 years of annual dividend raises. But it has upped its annual dividend every year since 2000. That means it’s only three years away from becoming the ASX’s first dividend aristocrat.

Soul Patts is a rather interesting company. It functions more as a listed investment company (LIC) than a traditional ASX business, owning large chunks of other ASX shares in a massive investment portfolio.

This it runs for the benefit of its shareholders. Soul Patts’ largest holdings include TPG Telecom Ltd (ASX: TPG), New Hope Corporation Limited (ASX: NHC), and Brickworks itself.

But Soul Patts also owns a large and diversified portfolio of ASX 200 shares, thanks to the acquisition of ASX LIC Milton Corporation last year. These include your typical ASX holdings like BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA).

Both of these would-be ASX dividend aristocrats have a long history of delivering meaningful returns to their shareholders. And both boast unrivalled dividend records on the ASX, if not yet long enough to qualify for the ‘dividend aristocrat’ tag.

As such, Soul Pattss and Brickworks are two ASX dividend heavyweights that I would happily buy and hold until retirement and beyond.

The post 2 ASX 200 dividend heavyweights to buy and hold until you retire appeared first on The Motley Fool Australia.

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More reading

• Why is the Fortescue share price tanking on Tuesday?
• Is now really the time to buy ASX 200 shares?
• Why I think this ASX 200 dividend share is a screaming buy right now
• Top ASX dividend shares to buy in December 2022
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen has positions in Altria Group, Caterpillar, Coca-Cola, McDonald’s, and Washington H. Soul Pattinson And. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson And. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $47.50 calls on Coca-Cola. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson And. The Motley Fool Australia has recommended Tpg Telecom. 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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1) The S&P/ASX 200 Index (ASX: XJO) is trading higher on Tuesday following the positive lead on Wall Street, where the S&P 500 rose 1.4%, with the tech-heavy Nasdaq also up a healthy 1.3%.

Tomorrow sees the US consumer price index reading which is expected to show inflation continues to fall, something that would see the Federal Reserve ‘only’ hike the interest rate 50 basis points higher on Wednesday.

A soft inflation print has equity watchers on high alert, given the S&P 500 roared 5.5% after November’s headline inflation figure came in lower than expected.

In a rather heroic extrapolation, analysis from market maker Optiver suggested the US equity benchmark could again rise as much as 5.5% on Tuesday (US time) should headline inflation come in 0.2 percentage points below estimates on a year-over-year basis, according to Bloomberg. 

The stock market is on high alert for a strong move either way, as evidenced by the VIX – a measure of volatility – jumping 9.5% higher in US trading on Monday despite equity markets also rising. The two gauges usually move in opposite directions.

2) The Tesla (NASDAQ: TSLA) share price bucked the trend in US trading on Monday, slumping another 6.3% to $167.82, its lowest close since August 2020. 

A favourite amongst retail investors, Tesla shares are now down 58% so far in 2022, contributing towards what JP Morgan estimates is a 38% loss for US retail traders this year. 

Gone is the “buy the dip” mantra, replaced by “sell before it’s too late.” Those that rode Tesla shares from around $35 to over $400 might be locking in profits, while those that jumped on late in the game might be booking tax losses, or even bailing out of the stock market altogether.

“The losses this year were unprecedented, especially for the younger generation of investors,” said Giacomo Pierantoni, the head of data at Vanda in Singapore on Bloomberg. Whether they keep ploughing money into the market — buying the dip, as they say — or lose faith in investing and give up altogether could help determine their ability to retire in the coming decades.

3) Regardless of the fate of Tesla stock – I have no position – I do hope the many retail investors who have been dealt a tough investing lesson these past 18 months don’t give up on the stock market, especially now that many popular COVID stocks have seen their share price cut in half, or more.

The stock market offers ordinary folk like you and me the opportunity to earn outsize returns, for very little effort. Invest regularly, ideally every month, into a low-cost index-tracking ETF like the Vanguard MSCI Index International Shares ETF (ASX: VGS) and, over time, you could return around 8% per annum, something that would roughly double your money every nine years.

All you need to do is resist any temptation to sell out during the inevitable periods of volatility, like we’ve been experiencing these past 18-odd months.

The above-mentioned data compiled by Vanda suggests US retail investors have collectively lost $US350 billion this year “as big bets on risky stocks and former high-fliers like Tesla Inc. backfired for the mom-and-pop set”.

If that’s you – and my growth-heavy portfolio has shed some serious blood this year – I urge you to stay the distance and make a lifelong commitment to investing in the stock market.

You may need to give up individual stock picking – you’ll get some winners but you’ll also need to handle the losses and your emotions when you are inevitably wrong – but you should be able to enjoy outsized returns by investing in one or more low-cost ETFs, like the one mentioned above.

4) As if to emphasise how difficult stock picking can be, especially in this current economic environment, take these two conflicting reports in the AFR today…

1. Tech stocks set for rebound after a ‘nightmare’ year, according to Wedbush Securities.

“We believe overall the tech sector will be up roughly 20 per cent in 2023 from current levels with big tech, software, and semis leading the charge despite the macro and Fed wild cards abound.”

2. Goldman warns of ‘a clear capitulation’ in equities.

“A shift from inflation to growth concerns (i.e. a transition from rates to growth volatility) may trigger a clear capitulation from investors into next year.”

So which is it to be?

I have no idea. As ever, as an optimist, and a lifelong stock market investor (albeit I started quite late, at the age of 24), I’m hoping 2023 will deliver a positive overall return, notwithstanding continued heightened volatility. 

My simple plan, one that should see me into retirement and well beyond…

Stay invested. Keep investing. Add regularly. Ignore near-term volatility. Live happily ever after. 

The post This simple investing plan could save the retirement plans of millions of retail investors appeared first on The Motley Fool Australia.

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More reading

• One ASX ETF that could make you a stock market millionaire with little to no effort
• These ETFs allow ASX investors to buy thousands of global shares
• One ASX ETF that could turn $200 per month into $250,000 with next to no effort
• It took me years to realise I’m no investing genius like Warren Buffett
• Why is the BetaShares NASDAQ 100 ETF (NDQ) having such a stellar run today?

Motley Fool contributor Bruce Jackson 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 Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Woodside Energy Group Ltd (ASX: WDS) share price is bouncing around today.

The Woodside share price climbed 1.28% in early trade this morning before pulling back. Woodside shares are currently up 0.17% and are trading at $35.16 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is climbing 0.23% at the time of writing.

Let’s take a look at what is going on at Woodside.

What’s happening?

Oil and gas producers are showing relatively little movement up or down on the ASX today. The Santos Ltd (ASX: STO) share price is 0.35% in the green today, while Beach Energy Ltd (ASX: BPT) shares are down 0.49%. The S&P/ASX 200 Energy Index (ASX: XEJ) is climbing 0.32% today.

The brent crude oil price is currently up 0.88% to US$78.68 a barrel, while WTI crude oil is up 0.87% to US$73.81 a barrel, according to Bloomberg. The natural gas price is climbing 0.87% to US$6.64 per MMBtu at last look.

Woodside has today expressed concerns about the Federal Government’s plan to “intervene” in the Australian gas market.

This follows Prime Minister Anthony Albanese announcing a plan to roll out price caps for domestic coal and gas sales. Federal Parliament is due to vote on the plan on Thursday.

In a release today, Woodside has called on the Federal Government to reconsider its “unprecedented intervention” and bring energy companies, retailers and other stakeholders together to create a solution.

Commenting on the gas market today, CEO Meg O’Neill said:

The policy will not address falling domestic gas supply and the increasingly critical role of gas in providing dispatchable power. These are the primary factors that are driving higher energy prices in the east coast gas market, rather than solely the impact of the tragic war in Ukraine.

We need to unlock gas supply now. For example, Woodside has been looking at options to increase supply, including through new LNG import terminals, exploration spending and further development on the east coast. Unfortunately, the proposed market intervention will make it very difficult for industry to economically invest to increase supply

Woodside share price snapshot

The Woodside share price has soared 58% in the last year.

Woodside has a market capitalisation of about $66.7 billion based on the current share price.

The post Woodside share price holds steady despite oil giant’s warning over gas intervention appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Why is the Woodside share price smashing the ASX 200 on Monday?
• 3 ‘strong’ ASX 200 dividend shares for 2023 revealed: expert
• 5 things to watch on the ASX 200 on Monday

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.25% to 7,199 points.

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

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 12% to $5.68. Investors appear disappointed that the mineral exploration company’s scoping study has been delayed. Chalice advised that a revised study completion timeline will be determined once the mineral resource is updated in late Q1 of 2023.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3.5% to $20.38. Fortescue and other mining giants have come under pressure today after the iron ore price pulled back overnight. The spot iron ore price dropped almost 2% to US$110.25 a tonne. This has led to the S&P/ASX 200 Materials index falling 1.1% this afternoon.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 6% to $1.49. This morning the nickel explorer announced the successful completion of a $55 million institutional placement. These funds were raised at $1.39 per new share, which represents a 12.3% discount to its last close price. The proceeds will be used to accelerate underground development at the Northern Operations and accelerate underground exploration and drilling at its new Cassini Operation.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down almost 8% to 66 cents. This follows news that the buy now pay later provider has raised $13.6 million from institutional investors at a 13.2% discount of 62 cents per new share. Zip advised that the proceeds will be used to fund the conversion of some of its notes earlier than planned. In other news, management revealed that trading has been in line with expectations so far in FY 2023.

The post Why Chalice Mining, Fortescue, Mincor, and Zip shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Why is the Fortescue share price tanking on Tuesday?
• Why is the Zip share price sinking 8% today?
• Why this one top fund manager is optimistic about 2023, and one little-known IPO that has hit it out of the park
• Here are the 10 most shorted ASX shares
• Could the VAS ETF outperform the BHP share price in 2023?

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 Zip Co. 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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This year has been a whopper for ASX shares and market watchers alike. We saw multiple lithium sell-offs, tech tumble amid rate hikes, and coal miners roar 200% higher.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has slumped 5% and the All Ordinaries Index (ASX: XAO) has fallen 7%.

Amid the chaos, the market has lost some notable names. Indeed, many of the ASX shares that set out in January are no longer with us.

Let’s cast our eyes back to five of the most significant delistings of 2022.

5 ASX shares that didn’t make it through 2022

While there have no doubt been plenty of ASX shares removed from the market for disappointing or nefarious reasons, I am going to focus on the positives.

I believe many market participants jumped for joy on news these stocks will no longer trade. Let’s reminisce on major mergers and acquisitions that took market favourites off the bourse in 2022.

Former BNPL darling Afterpay takes final stand

Of course, what other former ASX stock would we start out with but Afterpay? It might evoke a tear to think of the ASX growth dream-turned-disappointment.

The buy now pay later (BNPL) favourite was absorbed into Block Inc (ASX: SQ2) in February as part of an all-scrip takeover that was once worth $39 billion.

Sydney Airport shares fly outbound from ASX

Another ASX staple was wiped from the boards in February. Shares in Sydney Airport were delisted after the travel giant was snapped up by a consortium of super funds for $23.6 billion.

Investors received $8.75 for every share they held at the time of the acquisition.

Embattled Crown takes a bow

The casino operator that found itself the subject of Royal Commissions in Victoria and Western Australia, as well as the Bergin Inquiry, was also taken over this year.

Private equity firm Blackstone posted a successful $8.9 billion – or $13.10 per share – bid for Crown Resorts. The stock last traded in June.

A deal for ASX share MyDeal

Online marketplace operator MyDeal also left the books this year following a $1.05 per share takeover bid from ASX 200 giant Woolworths Group Ltd (ASX: WOW).

The supermarket operator’s offer implied an enterprise value of $243 million. MyDeal’s stock traded for the last time in September.

ResApp shares removed from Aussie bourse

And finally, we lost ASX healthcare favourite ResApp. The company behind tech touted as capable of detecting COVID-19 using audio of a person’s cough was snapped up by biotechnology giant Pfizer after a dramatic acquisition scuffle.

The New York-listed giant ultimately paid 20.8 cents for every ResApp share, taking the company off the ASX in September.

The post The ASX shares that won’t be seeing the light of day in 2023 appeared first on The Motley Fool Australia.

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More reading

• Why Chalice Mining, Fortescue, Mincor, and Zip shares are dropping today
• With a 14% dividend yield, is this ASX 300 mining share a bargain or a trap?
• Tyro share price rebounds 14% as rumours swirl over next moves
• Why Bendigo Bank, Block, Megaport, and Starpharma shares are rising today
• 2 ASX 300 gold shares just upgraded by brokers

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 positions in and has recommended Pfizer. 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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A 14% dividend yield? Surely that must be a typo! No, no typo. That’s the dividend yield currently on the table from the Grange Resources Limited (ASX: GRR) share price as we speak.

So is this too good to be true?

Grange Resources is an ASX 300 (ASX: XKO) iron ore company, specialising in the production of iron ore pellets. It owns the Savage Rover iron ore mine in Tasmania, as well as the Southdown Magnetite Project iron ore mine in Western Australia. In addition, Grange owns the Port Latta pellet plant in Tasmania.

Over the past 12 months, Grange has indeed paid out two dividends. The first was the March final dividend of 10 cents per share, fully franked. The second was the September interim dividend worth 2 cents per share, also fully franked.

That’s a total of 12 cents per share in dividend income over the past 12 months. Given the Grange Resources share price is currently sitting at 84 cents per share, this company indeed possesses a trailing dividend yield of 14.29% right now.

But the key word there is ‘trailing’. Just because a company has paid out some nice dividends in the past is no guarantee that investors will continue to enjoy those same dividends in the future.

If, over the next 12 months, Grange pays out a total of 12 cents per share in dividends then, yes, this company would have a forward yield of 14.29%, as well as a trailing one.

But that’s not where we are at today. If, for instance, Grange decides to pay out 2 cents per share for its next final dividend, which would match its last dividend, this company will have a forward yield of 4.76%, not 14.29%.

That’s a big difference.

Can Grange Resources really offer investors a 14.3% dividend yield today?

So how likely is this to happen? Well, that’s the question. It’s almost impossible to accurately predict any company’s future. But we can look at what the company has said more recently.

Back in August, Grange warned investors during its half-year report that the average pellet price the company received during the six months to 30 June 2022 was US$174.96 per tonne. That is a steep drop from the US$260.54 it averaged over 2021.

But then in an update covering the three months to 30 September 2022, Grange revealed that its average received price over this period had fallen to US$95.17 per tonne, down from US$139.04 per tonne over the three months to 30 June.

Remember, less money coming through the company door rarely translates to higher dividends.

Grange SEO Honglin Zhao said this as well:

The past few months have been very challenging with demand for iron ore pellets products very weak, particularly from the Chinese market, largely due to high stock levels in the market.

As a consequence, some of our shipments were deferred into Q4 of this year. In addition, the current inflationary environment with elevated energy costs is resulting in increased cost pressures on the Company.

So things aren’t looking good for the Grange Resources dividend going forward, it seems. Perhaps the markets agree. When the quarterly update was released on 27 October, the Grange Resources share price fell more than 16%.

We’ll have to wait and see what the future of Grange Resources’ dividends looks like. But there’s a reason that this company is being priced with a 14.29% trailing dividend yield today.

The post With a 14% dividend yield, is this ASX 300 mining share a bargain or a trap? appeared first on The Motley Fool Australia.

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More reading

• Tyro share price rebounds 14% as rumours swirl over next moves
• Why Bendigo Bank, Block, Megaport, and Starpharma shares are rising today
• 2 ASX 300 gold shares just upgraded by brokers
• Why the horror 2022 for US stock markets could see the ASX 200 charge higher in 2023
• 3 ASX All Ordinaries shares going gangbusters on Tuesday

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 Tyro Payments Ltd (ASX: TYR) share price is up 13.8% at the time of writing, having earlier posted gains of more than 15%.

Tyro shares are currently trading for $1.37 apiece.

This comes following yesterday’s 19.5% loss in the payments company’s shares in the wake of apparently collapsed takeover talks with both Potentia and Westpac Banking Corp (ASX: WBC).

What happened with the takeover talks?

In a nutshell, the company’s board rejected an improved offer from Potentia, saying its discussions had not resulted in a proposal that fairly values the Tyro share price.

Potentia had upped its initial offer to $1.60 per share. That’s some 17% above the current share price and more than 33% above yesterday’s closing price.

In rejecting the offer, the board noted that Tyro shares had traded at highs of $2.93 over the past 12 months.

Separately, Westpac reported it won’t be submitting an offer as the bank does not believe that would be in the best interest of its own shareholders at this time.

What rumours could be sending the Tyro share price higher today?

Atop some likely bargain hunting after yesterday’s sharp selldown, the Tyro share price could be getting a boost from several rumours making their rounds amongst the financial news outlets.

Chief amongst those unconfirmed rumours is that Potentia could bypass Tyro’s board and go directly to the shareholders.

Those shareholders include Mike Cannon-Brookes, who owns 12.5% of Tyro shares via Grok Ventures. Cannon-Brookes is reportedly in favour of selling.

QVG Capital portfolio manager Chris Prunty said the board needed to do more to convince shareholders it had made the right call.

According to Prunty (courtesy of The Australian Financial Review):

If a board rejects a bid on valuation grounds then the onus is on the board to put a compelling case to shareholders as to the value they see. The Tyro board has not done this.

$1.60 is not a knock-out price so rejecting it isn’t a sin, but with Westpac out of the race Potentia is perhaps not as far away as they were. We’ll be encouraging the board to engage with any future bid. Why not let shareholders decide?

Harvest Lane’s chief investment officer, Luke Cummings, believes Potentia will come back with an improved offer on the Tyro share price. He also indicated Potentia could put the offer directly to shareholders:

Hats off to them for rejecting the initial approach because they have forced Potentia to come back with a higher offer. But if I’m them [Potentia], I’m going straight to shareholders with $1.60 in the next few days to try and get 50.1 per cent and saying to the board this is our best and final offer unless we get access to due diligence.

Another unconfirmed rumour that could be impacting the Tyro share price is the potential for the payments company to launch a capital raising.

The Australian speculated on this in an article published after market close yesterday.

The paper cited Tyro’s big expenses and sizeable losses over the past two financial years, along with the deep pockets of its competition, as a reason that “some believe an equity raising would be needed”.

Tyro share price snapshot

Despite today’s big rebound, the Tyro share price remains down 53% in 2022.

Tyro shares kicked off the year trading for $2.92 apiece.

The post Tyro share price rebounds 14% as rumours swirl over next moves appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares going gangbusters on Tuesday
• Top ASX dividend shares to buy in December 2022
• Why Bigtincan, Nanosonics, Origin, and Tyro shares are sinking today
• Westpac share price slumps as Tyro takeover scrapped
• Tyro share price crashes 22% after ending takeover talks with Westpac and Potentia

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 positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments and Westpac Banking. 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) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 7,196.9 points.

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

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is up 6.5% to $9.63. Investors have been buying this regional bank’s shares following the release of a trading update. Bendigo Bank advised that for the five months ended 30 November, it recorded a 22% increase in unaudited cash earnings after tax to $245 million.

Block Inc (ASX: SQ2)

The Block share price is up 3.5% to $96.76. This follows a solid night of trade for the payments company’s NYSE listed shares. They were pushing higher on Monday night after the tech sector on Wall Street rebounded. This tech rebound led to the Nasdaq index rising almost 1.3%.

Megaport Ltd (ASX: MP1)

The Megaport share price is up 5% to $7.07. This network as a service provider’s shares are rising on Tuesday after the aforementioned tech rebound on Wall Street spurred on the local tech sector. This has seen the S&P/ASX All Technology Index rise a solid 1% this afternoon.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 9% to 55 cents. Investors have been buying this dendrimer products developer’s shares following an update on AstraZeneca’s AZD0466 trial. According to the release, preliminary clinical trial results from the ongoing Phase 1/2 trial in patients with advanced relapsed/refractory leukaemia show that AZD0466 has been well tolerated. AZD0466 utilises Starpharma’s DEP technology and is being developed by AstraZeneca under its multi-product license.

The post Why Bendigo Bank, Block, Megaport, and Starpharma shares are rising today appeared first on The Motley Fool Australia.

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• Bendigo Bank share price surges 7% on earnings boost
• 3 incredible ASX tech stocks down over 50% to buy before the next bull market
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• Why Arafura, Megaport, Nitro, and Sayona Mining shares are storming higher today
• Why this one top fund manager is optimistic about 2023, and one little-known IPO that has hit it out of the park

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 Block, Megaport, and Starpharma. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Block. The Motley Fool Australia has recommended Megaport and Starpharma. 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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Brokers have recently placed a buy or outperform rating on two S&P/ASX 300 Index (ASX: XKO) gold shares.

Bellevue Gold Ltd (ASX: BGL) and St Barbara Ltd (ASX: SBM) have both received a positive forecast from brokers.

Let’s take a look at these two ASX 300 gold shares in more detail.

Bellevue Gold

Bellevue Gold is rated by Macquarie analysts as an outperform with a $1.14 price target, The Australian reported. The company’s share price is currently down 0.22% and fetching $1.1275.

The gold price slipped overnight, as my Foolish colleague James reported this morning. The US Federal Reserve is due to meet this week to discuss interest rates. Rate rises tend to increase the US dollar. A higher US dollar can potentially impact the gold price as investors turn to an alternative safe haven.

Bellevue Gold recently conducted a $60 million capital raise to ramp up exploration. The company is targeting first gold production in the first half of 2023.

St Barbara

Citi analysts have upgraded the St Barbara share price to a buy. The company’s shares are currently in a trading halt which St Barbara requested on Monday.

The company is planning to merge with Genesis Minerals Ltd (ASX: GMD). St Barbara will acquire 100% of Genesis shares via a scheme of arrangement. The company will have a new name, Hoover House Limited. Hoover House will target production of more than 300 koz per annum. This is about double St Barbara’s FY23 production guidance of 145 to 160 koz for the Leonora project.

Chair Tim Netscher is confident the merger will provide benefits for shareholders. He said.

I am confident that this unique transaction will deliver significant value for all shareholders. The merger with our Leonora neighbour, Genesis, to create Hoover House, will accelerate our Leonora Province Plan. Shareholders will reap the benefits of more production at lower cost and lower risk from this prolific mining district.

The post 2 ASX 300 gold shares just upgraded by brokers appeared first on The Motley Fool Australia.

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More reading

• St Barbara share price halted amid major gold merger plans with Genesis Minerals
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• It’s not all bad news on the ASX All Ordinaries today. Here are 3 big winners
• 3 ASX gold shares rocketing higher on Thursday

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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