Tag: Motley Fool

The S&P/ASX 200 Index (ASX: XJO) got off to a good start this week. The index finished Monday’s session 0.33% higher at 7,325.6 points.

The S&P/ASX 200 Energy Index (ASX: XEJ) posted the market’s biggest gains today, lifting 1.5% despite a disappointing Friday for global oil prices.

The Brent crude oil price fell 1.5% to US$85.57 a barrel on Friday while the US Nymex crude oil price slumped 1.5% to US$79.98 a barrel.

Perhaps less surprisingly, the S&P/ASX 200 Materials Index (ASX: XMJ) also soared, gaining 1.4% after a strong session for iron ore.

Iron ore futures surged 4.2% to US$107.44 a tonne on Friday, leaving it up 15.9% for the week just been. 

Also on Friday, S&P Dow Jones Indices outlined upcoming changes to the index, set to take effect on 19 December. From then on, St Barbara Ltd (ASX: SBM) will be removed from the ASX 200 with Monadelphous Group Limited (ASX: MND) taking its place.

But it wasn’t all green on the Aussie bourse today. The S&P/ASX 200 Health Care Index (ASX: XHJ) slipped 0.7% while the S&P/ASX 200 Utilities Index (ASX: XUJ) dumped 1.1%.

At the end of Monday’s session, six of the ASX 200’s 11 sectors were in the green. But which stock took out today’s top spot? Keep reading to find out.

Top 10 ASX 200 shares countdown

Monday’s top-performing ASX 200 stock was Fortescue Metals Group Limited (ASX: FMG). Its share price soared 6.9% today.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Fortescue Metals Group Limited (ASX: FMG)	$21.03	6.86%
Beach Energy Ltd (ASX: BPT)	$1.895	5.28%
Rio Tinto Limited (ASX: RIO)	$116.13	3.74%
South32 Ltd (ASX: S32)	$4.34	3.58%
Adbri Ltd (ASX: ABC)	$1.785	3.48%
Karoon Energy Ltd (ASX: KAR)	$2.40	3.45%
Sandfire Resources Ltd (ASX: SFR)	$5.42	3.24%
Ramelius Resources Limited (ASX: RMS)	$1.02	3.03%
Deterra Royalties Ltd (ASX: DRR)	$4.76	2.81%
Inghams Group Ltd (ASX: ING)	$2.95	2.79%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Why has the BHP share price bolted out the gates on Monday?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Imugene, Rio Tinto, Santos, and Warrego shares are pushing higher
• It took me years to realise I’m no investing genius like Warren Buffett
• The Fortescue share price is surging 6% today, but what’s next in December?

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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The BHP Group Ltd (ASX: BHP) share price has charged higher today.

BHP shares are up 2.80% near the close, trading at $47.00 after hitting a high of $47.25 earlier this afternoon. The S&P/ASX 200 Index (ASX: XJO) is also in the green, up 0.53% at the time of writing.

Shares in BHP have lifted today, but the company is not the only ASX mining share in the green. The RIO Tinto Ltd (ASX: RIO) share price is up 3.60% today, while Fortescue Metals Group Ltd (ASX: FMG) shares are soaring 7.77%.

Let’s take a look at what is going on with the BHP share price.

What’s going on?

BHP is a major iron ore producer. The company also explores copper, nickel, potash and metallurgical coal.

The company’s share price momentum today follows a 4.2% lift in iron ore futures in the United States on Friday to US$107.44 a tonne. Overall, iron ore surged 15.9% last week.

Iron ore futures on the Singapore Exchange are currently up 1.96% to US$108 per tonne.

Commenting on the iron ore price, ANZ head of economics David Plank said in a research note that iron ore was “buoyed by China’s moves to support the property sector”. He added:

These measures should have a better chance of developing into stronger demand for steel and iron ore.

Meanwhile, BHP provided a non-price-sensitive update on an English High Court case today. BHP has filed a defence against a group action claim seeking damages for alleged losses related to the Fundao Dam collapse in 2015. BHP denies the claims in their entirety.

Share price snapshot

The BHP share price has soared 31% in the last 12 months, while it has gained nearly 28% year to date.

For perspective, the ASX 200 has returned 1.37% in the last year.

BHP has a market capitalisation of around $238 billion based on the current share price.

The post Why has the BHP share price bolted out the gates on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why Imugene, Rio Tinto, Santos, and Warrego shares are pushing higher
• It took me years to realise I’m no investing genius like Warren Buffett
• The Fortescue share price is surging 6% today, but what’s next in December?
• I consider myself an environmentalist, but I still bought Fortescue shares. Here’s why
• Why did the Rio Tinto share price rocket 24% in November?

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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The A2 Milk Company Ltd (ASX: A2M) share price was a strong performer in November.

During the period, the infant formula company’s shares rose almost 18%.

This means the A2 Milk share price is now in positive territory for 2022 with a year to date gain of 12%.

Why did the A2 Milk share price smash the market in November?

There were a couple of key catalysts for the strong A2 Milk share price performance in November.

The first was news that the US Food & Drug Administration has granted A2 Milk approval to import, sell, and distribute infant formula products in the US market.

Due to the timing of the agreement, management doesn’t expect any impact in the first half of FY 2023. However, it estimates that it will ship 1 million cans of infant formula to the country during the second half.

The company also notes that it has capacity to supply upwards of 9 million cans in the future if required. So, this could be the beginning of something much greater if all goes to plan.

A2 Milk’s CEO, David Bortolussi, commented:

We are increasing our supply to respond to this situation, while importantly ensuring that we continue to meet the needs of our other IMF consumers and trade partners in China and other markets. If the US requires further support over an extended period, we have the proven ability to scale up significantly.

What else?

Also supporting the A2 Milk share price was the company’s ongoing NZ$150 million on-market share buyback.

After commencing on 8 November, the company was regularly dipping into the market to buy shares and then retire them. So much so, according to its 1 December buyback notice, A2 Milk had bought 7,159,019 shares during the month since the buyback began.

This represents in the region of $43 million in buyback, which means there’s still plenty more to come in December and beyond.

The post What drove the A2 Milk share price 18% higher in November? appeared first on The Motley Fool Australia.

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More reading

• Thank you Mr Powell! 7 ASX 200 shares cracking new 52-week highs on Thursday
• The A2 Milk share price just hit a 52-week high. What’s going on?
• 2 absolute bargain ASX shares to buy right now: analyst
• Up 40% in six months, can the A2 Milk share price keep rising?
• Why has the A2 Milk share price rocketed 18% so far this month?

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 A2 Milk. 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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One of the best things about index exchange-traded funds (ETFs) is the lack of ongoing effort they require as part of a share portfolio. When you invest in an individual company, there are annual reports to read, market updates to follow, and valuations to get right. Having 10 or 20 shares in a portfolio can thus be a lot of work.

But index ETFs are a different kettle of fish. An index ETF is designed to track an index over time. Both the fund and the index are automatically and periodically rebalanced. This ensures that only the correct shares by market capitalisation are represented.

As such, an index fund is an investment you can comfortably leave in your proverbial bottom drawer and never look at again.

The Vanguard MSCI Index International Shares ETF (ASX: VGS) is a perfect example. This ETF tracks the MSCI World ex-Australia Index. This follows a portfolio of the world’s largest companies across the advanced economies of the world.

US tech giants like Apple and Amazon.com dominate its top holdings, but everything from Exxon Mobil and Nestle to AstraZeneca and Disney is in this ETF.

How long would it take for this ETF to turn $200 a month into $250,000?

So how could this ETF turn a $200 per month investment into $250,000? Well, let’s start with its performance history. Since its inception in 2014, the Vanguard International Shares ETF has returned an average of 11.39% per annum.

If we use that figure as a benchmark, we can accurately predict how long it will take depositing $200 a month to reach a total sum of $250,000.

So assuming an investor puts in $200 a month, the ETF maintains a long-term average return of 11.39% per annum (not at all guaranteed) and reinvests all dividend distributions, they will hit a $250,000 balance in just over 22 years. All requiring very little work… albeit a lot of time.

After 25 years, that investor would have a total of $340,848, and after 30 years, $616,836. Such is the miracle of compound interest.

The post One ASX ETF that could turn $200 per month into $250,000 with next to no effort appeared first on The Motley Fool Australia.

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More reading

• It took me years to realise I’m no investing genius like Warren Buffett
• Are Vanguard International Shares ETF dividends fully franked?
• 3 top ETFs for ASX investors to buy and hold for a decade
• Over half of millennials own shares. Here are 3 ASX share ideas to start your own portfolio
• 3 excellent ETFs for ASX investors to buy next week

John Mackey, 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 Amazon.com, Apple, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon.com, Apple, Vanguard Msci Index International Shares ETF, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nestlé and has recommended the following options: long January 2024 $145 calls on Walt Disney, long March 2023 $120 calls on Apple, short January 2024 $155 calls on Walt Disney, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Amazon.com, Apple, Vanguard Msci Index International Shares ETF, and Walt Disney. 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 have delivered some stellar returns over the past year.

But the last few weeks have left some investors wondering if the party is coming to an end for the big lithium companies.

What’s been happening with the big lithium stocks?

In November, only two of the five ASX 200 lithium shares posted gains, while the benchmark index leapt 6.1% higher over the month.

This was despite several of the miners hitting new all-time highs earlier in the month amid record prices for the battery-critical metal. Then lithium prices began to slide.

Now, as we approach the end of the third day of trading in December, it looks like the selling trend from the past few weeks may be reversing. At least for some.

Here’s how the top ASX 200 lithium shares have performed since the closing bell on 30 November:

• Core Lithium Ltd (ASX: CXO) shares are down 2.1%
• Allkem Ltd (ASX: AKE) shares are up 4.6%
• Pilbara Minerals Ltd (ASX: PLS) shares have gained 1.3%
• IGO Ltd (ASX: IGO) shares are up 2.9%
• Mineral Resources Ltd (ASX: MIN) shares have gained 4.3%

For some context, the ASX 200 is up 0.7% over this same period.

Can ASX 200 lithium shares come charging back in December?

With the exception of Mineral Resources – hands down the best-performing ASX 200 lithium share in November with a 19.5% share price gain – the rest of the pack struggled with a dip in lithium prices.

Most of that’s been due to some headwinds blowing out of China, the world’s biggest electric vehicle (EV) producer.

China’s economy-hampering COVID zero policies have given some investors in lithium stocks the jitters. Especially as infection numbers in the nation soared and rare anti-government protests broke out across major cities.

2023 is also likely to see the Chinese government axe its subsidies to domestic battery manufacturers. And the government has flagged an end to rebates for consumers purchasing new EVs.

Add to that reports that Chinese battery manufacturers look to have overproduced the near-term needs of EV manufacturers and you can see why lithium prices, and ASX 200 lithium shares, have come under pressure recently.

Which brings us back to the outlook for December.

China may well end its EV subsidies and there may be some short-term battery oversupply issues making the news this month. In turn, this could put some pressure on the big lithium stocks.

However, over the weekend, the Chinese government did an extraordinary backflip on its pandemic containment policies.

While some restrictions remain, officials have bowed to protester demands and are turning their attention more towards growing the economy than stamping out the virus.

An end (or near-end) to lockdowns should offer a healthy boost to China’s mammoth manufacturing sector. And we suspect this will also see more analysts upgrading their near-term forecasts for lithium demand.

Which could mean good news for ASX 200 lithium shares in December.

The post Can ASX 200 lithium shares come charging back in December? appeared first on The Motley Fool Australia.

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More reading

• Why Arafura, Mayne Pharma, Pilbara Minerals, and Tyro shares are dropping today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Pilbara Minerals share price sinking deep into the red today?
• 2 ASX lithium shares smashing all-time highs on Monday
• ASX index beaters: 5 shares that have supercharged portfolios in 2022

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The Mesoblast Ltd (ASX: MSB) share price has been on a top run lately. It’s launched 25% higher over the last 30 days.

Indeed, this time last month, shares in the clinical-stage biotechnology company were trading for 92 cents. Today, the Mesoblast share price is $1.16.

For comparison, the All Ordinaries Index (ASX: XAO) has risen 6% over the last month.

So, what’s been bolstering the Mesoblast share price lately? Let’s take a look.

What’s been going right for the Mesoblast share price lately?

Mesoblast has had a good run recently. That’s despite the market appearing disappointed by the only price-sensitive news from the company.

The healthcare company released its latest quarterly update and news of a key trial on 24 November. That same day, the Mesoblast share price slipped 1%.

Over the September quarter, Mesoblast burnt through US$14.3 million and brought in US$1.4 million of revenue. Though, there was more positive news released alongside its earnings.

Mesoblast also revealed the long-term survival results for its remestemcel-L phase 3 trial in children with steroid-refractory acute graft-versus-host disease (SR-aGVHD).

Overall survival at two years for children treated with the drug was 51% compared to between 25% and 38% in recent studies of children or adults treated with the best available therapy.

The company’s chair Joseph Swedish said the results reaffirmed the potential significance of the drug as “ a life-saving treatment for children with SR-aGVHD”.

Mesoblast CEO Dr Silviu Itescu also commented:

These substantial and durable long-term survival outcomes seen in our Phase 3 trial with remestemcel-L are a cornerstone to our [Biologics License Application] resubmission.

That same day the company hosted its annual general meeting (AGM). There, Swedish reiterated the company is hoping to see regulators give remestemcel-L their tick of approval in the first half of 2023.

Mesoblast is also working to get its rexlemestrocel-L to market as a treatment for chronic low back pain associated with degenerative disc disease and for heart failure with reduced ejection fraction.

Interestingly, the biggest gain posted by the Mesoblast share price over the period was on a day of seeming silence. The stock soared 11.6% on Wednesday last week despite no word from the company.

The post Why has the Mesoblast share price boomed 25% in a month? appeared first on The Motley Fool Australia.

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More reading

• What’s going on with the Mesoblast share price today?
• Why did the Mesoblast share price soar 9% today?

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

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week in a positive fashion. In afternoon trade, the benchmark index is up 0.5% to 7,340.4 points.

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

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price is down 5.5% to 41.5 cents. This has been driven by the company’s institutional placement. The rare earths developer has received firm commitments for a $121 million placement to accelerate the Nolans Project development schedule. These funds are being raised at a 15.9% discount of 37 cents per new share.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is down over 10% to 21.5 cents. This morning the pharmaceutical company announced that it has signed a transaction agreement and related license agreement for a portfolio of on-market women’s health products from TherapeuticsMD for US$140 million. The products’ net revenue in the third quarter of 2022 were US$20.9 million and gross profit was US$17.1 million.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 4.5% to $4.64. This is despite the lithium giant being added to the ASX 50 index at the quarterly rebalance. Investors appear to have concerns about lithium prices following a couple of bearish broker notes and news of a new major lithium mine development.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 5.5% to $1.62. Investors have been selling this payments company’s shares following the release of a transaction update. According to the release, transaction value growth slowed to 16% during the month of November. This is a sharp slowdown compared to its year to date growth rate of 43%.

The post Why Arafura, Mayne Pharma, Pilbara Minerals, and Tyro shares are dropping 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 Monday
• Why is the Pilbara Minerals share price sinking deep into the red today?
• ASX index beaters: 5 shares that have supercharged portfolios in 2022
• Arafura share price sinks 12% as Gina buys up big
• Why is the Pilbara Minerals share price charging higher on Monday?

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 Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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) has kicked off the trading week on a positive note so far this Monday. After recording a gain last week, the ASX 200 is once again living up to the fabled December ‘Santa rally’ and is lifting higher at this point of the session.

At the time of writing, the index has gained a healthy 0.49%, lifting the index up to just under 7,340 points.

So time now to dive deeper into these market moves by having a look at the shares currently topping the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

South32 Ltd (ASX: S32)

First up today is the mining giant South32. This Monday has had a sizeable 16.7 million South32 shares bounce around the markets today so far. There’s been no fresh news out of South32 so far this week.

However, the South32 share price has really taken off today. The miner is currently enjoying a 4.06% lift to $4.36 a share. Most ASX resources shares are taking flight today following some pleasing price rises on the commodity markets. It’s this gain that is likely leading these volume figures.

Core Lithium Ltd (ASX: CXO)

ASX 200 lithium share Core Lithium is our next share for today. This lithium producer had had a hefty 19.82 million shares change hands as it currently stands. There’s been no new news out of Core shares either today. But investors are sending this company in the opposite direction to South32 regardless.

Like most ASX lithium shares today, the Core Lithium share price has lost a painful 3.65% of its value so far today, putting it down to $1.32 a share. It’s not quite clear what’s up with lithium today, but this drop is probably the cause of the high volumes on display.

Pilbara Minerals Ltd (ASX: PLS)

Speaking of the devil, our last ASX 200 share worth taking a gander at today is Core’s fellow lithium luminary Pilbara Minerals. A whopping 25.03 million Pilbara shares have been bought and sold thus far this session.

The same factors seem to be at play here. However, investors have decided to punish Pilbara even more harshly than Core, with this company currently down a nasty 4.32% at $4.65 a share. Again, it’s this selling pressure that is likely influencing the high volumes we are seeing.

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

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More reading

• Why is the Pilbara Minerals share price sinking deep into the red today?
• ASX index beaters: 5 shares that have supercharged portfolios in 2022
• Could Core Lithium shares be set for a Santa rally in December?
• Guess which gold share is being booted out of the ASX 200
• With almost no savings at 30, I’d use the Warren Buffett method to try to get rich!

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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Building up a passive income stream is no easy feat. Having money pouring into your bank account with no labour or effort required is the dream. But it is easier to dream than do.

Luckily for would-be passive income earners, shares are an ideal investment vehicle to help you build up passive income and move closer toward financial independence. Not only do many ASX shares pay dividends (a form of passive income), but many also issue franking credits as well, which can also help to boost your income even further.

$20 a week is a reasonable target for most Australians to invest each week. Hopefully, that won’t have a meaningful impact on a standard of living and can be repeated each week.

$20 a week equates to roughly $80 a month, or more accurately, $1,040 a year.

How to get passive income from ASX dividend shares (or ETFs)

If I wished to build up a passive income stream from ASX shares, the first investment I would look to is an exchange-traded fund (ETF) specialising in dividend income. One such fund is the Vanguard Australian Shares High Yield ETF (ASX: VHY).

This ETF deliberately targets a stream of passive dividend income for its investors. It does so by only holding high-yielding ASX dividend shares in its portfolio, from which it can pass income and franking onto its investors.

Some of its current top holdings include dividend beasts like BHP Group Ltd (ASX: BHP), Woodside Energy Group Ltd (ASX: WDS) and National Australia Bank Ltd (ASX: NAB).

So over the past 12 months, this Vanguard ETF has forked out distributions worth a total of $3.84 per share. At today’s unit price of $69.28 (at the time of writing) for the Vanguard Australian Shares High Yield ETF, that gives it a healthy distribution yield of 5.54%.

It’s worth mentioning here that Vanguard ETFs offer zero brokerage fees and a low minimum investment amount. Other ASX share investments will differ, so be mindful of regular brokerage fees potentially impacting your returns.

By the numbers…

If we invested $20 a week in the Vanguard Australian Shares High Yield ETF for a whole year, a hypothetical investor could pull around $57.62 in dividend income by the end of the year. If that investor spent 10 years putting $20 a week away, this would rise to $576.20 in dividend income per year. That would be $1,152.40 a year after 20 years.

If our investor reinvested their dividends each year, this would get a boost up to approximately $1,212.97 in dividend income per year.

Of course, this assumes that the dividend distributions from the high-yield Vanguard ETF remain the same over this two-decade period, which is highly unlikely.

Chances are that this 20-year period will see the annual distributions from this ETF increase substantially as well, leaving our investor with even more passive income.

That’s enough to make a meaningful difference to a retirement.

The post How I’d build passive income with just $20 a week appeared first on The Motley Fool Australia.

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More reading

• Buy these ETFs for an income in retirement

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. 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 Vanguard Australian Shares High Yield 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing, the benchmark index is up 0.5% to 7,340.4 points.

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

Imugene Limited (ASX: IMU)

The Imugene share price up 1.5% to 18.75 cents. This follows the release of two updates this morning. One revealed that the first patient has been dosed with the novel cancer-killing virus Vaxinia as part of the intravenous cohort 2 trial.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is up 4% to $116.20. Investors have been buying Rio Tinto and other ASX iron ore miners after the price of the steel making ingredient charged higher. The spot iron ore price is now nearing US$110 a tonne. This is up from approximately US$80 a tonne at the start of November. The potential reopening of China appears to be behind this rise.

Santos Ltd (ASX: STO)

The Santos share price is up 3% to $7.35. This appears to have been driven by a rise in oil prices during Asian trade. Prices have climbed after OPEC announced that it will push ahead with its plans to cut production by 2 million barrels per day in 2023. China easing COVID restrictions also appears to be supporting prices.

Warrego Energy Ltd (ASX: WGO)

The Warrego Energy share price is up 12% to 31.7 cents. This follows news that Hancock Energy has increased its takeover bid from $0.23 per Warrego share to $0.28 per Warrego share. All other terms of its offer remain unchanged. Beach Energy Ltd (ASX: BPT) has been given five business days to match the revised Hancock Energy takeover offer.

The post Why Imugene, Rio Tinto, Santos, and Warrego shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Warrego Energy share price leaps 12% as takeover battle continues
• Why did the Rio Tinto share price rocket 24% in November?
• The iron ore price just posted its biggest-ever monthly gain. What’s going on?
• 5 things to watch on the ASX 200 on Monday
• 3 best-performing ASX 200 energy shares in November

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 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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