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The Core Lithium Ltd (ASX: CXO) share price had a disappointing time in November.

The lithium developer’s shares fell 2.1% over the period to end the month at $1.36.

This compares unfavourably to the ASX 200 index, which rose 6.1% last month.

What happened to the Core Lithium share price last month?

Things were actually looking very positive for the Core Lithium share price for the first half of the month. In fact, its shares climbed as much as 35% to a record high of $1.88 on 14 November.

This was driven by optimism over the outlook for lithium thanks to the electric vehicle boom. And with Core Lithium on the cusp of commencing production at the Finniss Lithium Project in the Northern Territory, investors were betting on it generating bumper free cash flow in the near future.

The company also announced the transportation of its first spodumene direct shipping ore (DSO) product from the project. Core CEO Gareth Manderson labelled it a milestone for Core. He said:

The transportation of DSO today is another signification milestone for Finniss, and is a very positive step towards our objective to export from Darwin Port before the end of the year.

The decline

Unfortunately, the Core Lithium share price didn’t stay at those lofty levels for long. A day after hitting a record high, it started its downward trend and wiped out its month to date gains and some more.

This appears to have been driven by bearish notes out of Credit Suisse and Goldman Sachs warning that lithium prices were heading meaningfully lower.

In addition, analysts at Macquarie downgraded Core Lithium’s shares to a neutral rating with a $1.80 price target. Its analysts are concerned that the Finniss project could be delayed following high level management departures and bad weather. In fact, the broker suspects that production could be delayed until FY 2024.

Here’s hoping for a better showing from the Core Lithium share price in December.

The post Why did the Core Lithium share price end the month lower after being up 35%? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Can you guess which 3 ASX 200 lithium shares led the charge in November?
• 2 ASX lithium shares to buy, and 3 to sell: brokers
• Why has the Core Lithium share price crashed 30% in 12 days?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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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The Magnis Energy Technologies Ltd (ASX: MNS) share price leapt 8% higher today amid a media report that the company is seeking funding to expand its lithium-ion battery plant in New York.

The Magnis Energy share price reached an intraday high of 40 cents today. That’s 8.1% higher than yesterday’s closing value of 37 cents. It is now trading at 38 cents, up 2.7%.

Here’s what’s going on.

What’s the news pushing up the Magnis Energy share price?

Late last night, the Australian Financial Review published an article saying Magnis is “seeking equity investors to fuel expansion plans alongside a mooted US-government sponsored debt facility”.

Magnis Energy asked the ASX for a temporary pause in trading before the market open today to give it time to prepare an official response.

What did Magnis Energy say?

In a statement issued just after 11am, Magnis Energy confirmed it has commissioned HSBC to assist with funding requirements.

The money will go toward expanding its lithium-ion battery plant, iM3NY Plant.

That stands for Imperium3 New York, Inc, which is a joint venture project between Magnis Energy’s US subsidiary and its partner, technology company Charge CCCV LLC, otherwise known as C4V.

The goal of iM3NY is to commercialise C4V’s patented technology to produce green-credentialed lithium-ion battery cells.

Why does the company need new capital?

According to the AFR, Magnis wants to ramp up production at iM3NY by more than 30 times before the end of the 2020s.

The article said HSBC is seeking to raise $300 million to fund the plant’s expansion. This would enable it to increase production from one gigawatt per year to five gigawatts per year by 2024.

The company also want a $200 million commitment to support future expansion initiatives.

The longer-term goal is to achieve 38 gigawatts per year by 2030.

The funding could also help Magnis access US government backing. In recent times, the US has awarded grants to other ASX-listed lithium battery developers, namely Novonix Ltd (ASX: NVX) and Syrah Resources Ltd (ASX: SYR).

Magnis Energy is listed on the ASX, the Frankfurt Stock Exchange (FSE: U1P), and the OTC Markets Group (OTCQX: MNSEF).

The company said its board has not decided whether it will participate in any funding arrangements.

Magnis Energy share price snapshot

It may be a player in the white-hot lithium and battery materials sector, but Magnis has had a rough year on the market. The shares are down 33% in the year to date.

The Magnis Energy share price is also down 17% over the past five years.

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

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More reading

• Why did the Zip share price surge 21% in November?
• On the back of a cracking year, these 3 ASX 200 coal shares soared again in November
• So, has inflation peaked or not?
• Why Appen, Evolution Mining, Rio Tinto, and Xero shares are racing higher
• Here are the 3 most heavily traded ASX 200 shares on Thursday

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Hsbc Plc. 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 Zip Co Ltd (ASX: ZIP) share price had a stellar run in November.

Zip shares soared 21.3% from 61 cents at market close on 31 October to 74 cents on 30 November. They are up a further 0.7% in today’s trade. The S&P/ASX 200 (ASX: XJO) is 0.86% in the green today, while it gained 6.1% last month.

Let’s take a look at why Zip had such a good month.

What happened to Zip in November?

Zip was not the only ASX buy now, pay later (BNPL) share to lift in November. Sezzle Inc (ASX: SZL) shares rose 14%, while Tyro Payments Ltd (ASX: TYR) shares surged 15%. However, the Block Inc CDI (ASX: SQ2) share price fell 1% in November.

The Zip share price soared 29% between market close on 10 November and 17 November alone before pulling back.

Better-than-expected inflation data in the United States in the middle of the month had a positive impact on BNPL shares, including Zip. News also emerged in mid-November that retail sales were better than expected in October. A positive business update from ASX BNPL share Sezzle on 16 November also appeared to boost investor sentiment.

On 21 November, news emerged that regulation for the BNPL sector could be on the cards. Commenting on the BNPL sector, Finance Minister Katy Gallagher said:

People are starting to see it as a credit card. It’s responsible to have a look at how it is regulated and how people are using it, what some of the problems are and how to provide that protection to people

Early in November, Zip CEO Larry Diamond provided hope Zip can deliver positive earnings before interest, tax, depreciation and amortisation (EBITDA) by the first half of 2024. Diamond said:

We expect to see the US exiting FY23 cash EBTDA positive and to neutralise the cash burn from our rest of world footprint during the second half of FY23.

We are on track to deliver positive cash EBTDA as a group in the first half of financial year 2024.

Diamond highlighted a potential US$10 trillion addressable market in the United States. He also said in Australia, one-third of adults have a BNPL account and Zip’s brand awareness is 60% among the 18 to 45 market. Commenting on the US, Diamond said:

In the US, the addressable market is estimated to be over US$10 trillion and BNPL penetration is still under 2%, including just 4% of e-commerce and 1% of in-store spend. This demonstrates the sheer size, and early stage of the BNPL opportunity that we are positioned to capture.

Diamond moved to the US in October to help Zip take advantage of what he sees as a “significant opportunity” for fintech in the USA. He said at the time, “US banks are asleep at the wheel”.

Zip share price snapshot

The Zip share price has fallen 85% in the past year, while it has climbed 4% in the last week.

For perspective, the ASX 200 has returned 1.45% in the past year.

Zip has a market capitalisation of about $529 million based on its current share price.

The post Why did the Zip share price surge 21% in November? appeared first on The Motley Fool Australia.

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More reading

• Could increased BNPL regulation be a positive for Zip shares?
• Zip share price charges higher as BNPL regulation looms large
• Boom! Why has the Zip share price soared 31% in a week?
• 3 ASX All Ordinaries shares having a cracker session on Thursday
• Guess which ASX All Ords share is leaping 22% on ‘significant progress towards profitability’

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 positions in and has recommended Tyro Payments and Zip Co. 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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S&P/ASX 200 Index (ASX: XJO) coal shares put in another strong month in November.

Investors in the big coal stocks shrugged off concerns, at least for now, of a possible government imposed price cap on domestic coal sales to rein in soaring energy prices.

And ASX 200 coal shares Whitehaven Coal Ltd (ASX: WHC), New Hope Corporation Limited (ASX: NHC), and Yancoal Australia Ltd (ASX: YAL) all finished the month well in the black.

How did the ASX 200 coal shares stack up?

The ASX 200 itself gained 6.1% from the closing bell on 31 October through to yesterday’s close.

The New Hope share price slightly trailed the benchmark returns in November, gaining 5.3%.

New Hope shares received a big boost early in the month after the miner announced an on-market share buyback of up to $300 million worth of shares. Commenting on the buyback, New Hope chair, Robert Millner, said, “The company expects its strong cash generation to continue as demand for high energy and lower emission thermal coal outstrips ongoing tight supply.”

Whitehaven was the second best performing ASX 200 coal share in November, outpacing the benchmark index to gain 11.2%.

Like its rivals, Whitehaven shares benefited from thermal coal prices remaining near their all-time highs over the month. And the miner also received positive coverage from a number of leading brokers, likely spurring investor interest.

The Whitehaven share price managed a strong performance over the month despite sinking almost 9% on 9 November after the miner downgraded its production guidance due to flooding in New South Wales impacting its operations at the Gunnedah Basin.

Leading the charge higher

The ASX 200 coal share leading the charge in November was Yancoal, gaining 11.8%.

The Yancoal share price spent much of the first weeks of November giving ground, before a sharp turnaround on 22 November. From the closing bell on 21 November through to the closing bell on 30 November, Yancoal shares gained 16.4%.

With no price-sensitive news out from Yancoal, investor interest may have been stoked by its rock bottom price-to-earnings (P/E) ratio of 2.7 times. Or perhaps its stellar trailing dividend yield of 18.7%.

How have the ASX 200 coal shares performed over the past year?

With November’s gains in the bag, and factoring in today’s intraday moves, here’s how the ASX 200 coal shares have performed over the last 12 months:

• The New Hope share price is up 184%
• The Whitehaven share price has gained 309%
• The Yancoal share price is up 122%

The post On the back of a cracking year, these 3 ASX 200 coal shares soared again in November appeared first on The Motley Fool Australia.

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More reading

• Climate and energy: Analyst tips 2 ASX shares perfectly placed for global crises
• Up 260% in 2022, could the Whitehaven share price double again?
• Here are the top 10 ASX 200 shares today
• Why Ainsworth, Life360, Temple & Webster, and Whitehaven Coal are charging higher
• Why are ASX 200 coal shares burning brighter on Wednesday?

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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If anyone could provide a definitive answer on whether inflation has peaked, we’d have a much clearer view of how ASX shares might perform in 2023.

But of course, there’s a divergence of views. This follows the release of the first monthly inflation report from the Australian Bureau of Statistics (ABS) yesterday. (Previously it only did quarterly reports.)

The report shows annual inflation tracking at 6.9% for the 12 months to the end of October. That’s the highest level of inflation in two decades, but it’s also lower than the September quarter figure of 7.3%.

That’s why people are talking about whether inflation has peaked today.

The Reserve Bank of Australia (RBA) has had a longstanding inflation rate comfort zone of 2% to 3%. It has raised interest rates aggressively this year — by 2.75% — to try and quell the upwards spiral.

If it raises rates again next week by another 0.25%, it will be the highest annual increase since the introduction of cash rate targeting more than three decades ago.

What has inflation done to ASX 200 shares in 2022?

Inflation has been a killer for ASX shares and United States equities in 2022.

The biggest impact occurred in the first half of the year. The S&P/ASX 200 Index (ASX: XJO) lost 15% in value between the first trading day of 2022 and the mid-June bottom. The S&P 500 in the US lost 21%.

Inflation has delivered two big blows to ASX shares and global equities.

Firstly, it’s raised the costs of doing business for pretty much every company, thus impacting earnings.

Some companies have resilience in this climate. They are typically ‘price makers’, like supermarkets, which can offset rising costs by raising prices because customers will still buy their essential goods.

Some companies have unique resilience, like toll operator Transurban Group (ASX: TCL). Most of its toll charges are linked to inflation so they can raise prices by the same amount as inflation.

The second major blow from rapidly rising inflation is rapidly rising interest rates. This means companies have to pay more for their debt and customers tighten their purse strings. None of that is good for business.

Is inflation there yet?

Given all that, it’s understandable that we investors would love to know when inflation is going to peak. Like a grumpy, sooky kid in the back seat of a car, we’re all screaming, ‘Are we there, yet’?

Well, after yesterday’s new inflation numbers, many experts have weighed in on the issue.

Let’s canvas their views.

What does the RBA think?

Reserve Bank Governor Philip Lowe delivered the board’s latest inflation predictions in his monetary policy decision on 1 November.

Lowe said:

A further increase in inflation is expected over the months ahead, with inflation now forecast to peak at around 8 per cent later this year.

Inflation is then expected to decline next year due to the ongoing resolution of global supply-side problems, recent declines in some commodity prices and slower growth in demand.

The Bank’s central forecast is for CPI inflation to be around 4¾ per cent over 2023 and a little above 3 per cent over 2024.

We’ll get a fresh analysis from the RBA after next week’s cash rate decision on Tuesday.

What do the economic analysts think?

The first thing to point out is some experts don’t think the new ABS monthly data is that reliable.

The Reserve Bank says monthly data has previously been a good indicator of market turns. Though, AMP Capital senior economist Diana Mousina isn’t convinced.

According to reporting in The Australian, Mousina says the new monthly data is “probably underestimating inflation in October”:

The monthly October release measures 63 per cent of the CPI basket with excluded areas including restaurant meals and takeaway foods, new dwelling purchase costs for apartments and electricity and gas prices.

The big lift in prices for electricity and gas recently in Australia means that the monthly CPI index is probably underestimating inflation in October.

The ‘basket’ Mousina is referring to is there is the basket of goods used to calculate inflation movements.

Putting that issue aside, let’s see how these economic analysts have interpreted the numbers.

HSBC Australia chief economist, Paul Bloxham reckons inflation is “clearly still too high” but has “passed its peak”.

Bloxham said:

We expect the RBA to hike by 25bp to 3.10 per cent in December, but [the] data supports our view that the RBA may choose to pause not long after that.

NAB experts predict inflation will peak in Q4 2022. But they expect the RBA to up rates by 0.25% in December, February, and March (there is no meeting in January).

CBA experts have the same timeline prediction for an inflation peak — Q4 2022. But CBA economist, Stephen Wu, reckons the uncertain outlook for energy prices could change that timeline.

ANZ economists Catherine Birch and Felicity Emmett reckon quarterly inflation will “accelerate in Q4”. This would be due to flooding events and other factors.

They said in a note to clients:

… we’ll be keeping an eye on the data to see whether cost pass-through is easing more quickly than we have factored or if the easing in global supply chain issues is showing up in the Australian data a bit earlier than we had assumed.

Citi Australia chief economist, Josh Williamson thinks the risk of higher inflation and wages remains.

He predicts a terminal cash rate of 3.35%. He thinks the RBA will start cutting rates by 2Q FY24 due to slowing economic growth and rising unemployment.

According to reporting in the Australian Financial Review (AFR), Russel Chesler, head of investments and capital markets at VanEck, reckons inflation will peak at 8% in Q4 2022.

He expects the RBA to raise rates a few more times in 2023 because it will take time for migrants to fill labour gaps.

Chesler added:

Coming out of the pandemic, Australian households are cashed-up, and although retail sales fell by 0.2% in October they are still up 12.5% for the last year.

Higher mortgage repayments have not deterred shoppers yet. That is helping to buoy economic activity and to fuel inflation…

Goldman Sachs is tipping a much higher terminal cash rate of 4.1% by May 2023, according to the AFR.

Goldman Sachs chief economist Andrew Boak said:

The 2023 challenge for Australia is to return inflation to an acceptable level without breaking the housing market and precipitating a recession.

The post So, has inflation peaked or not? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Investing in ASX shares? Here’s what the experts expect for RBA rate hikes in 2023
• Thank you Mr Powell! 7 ASX 200 shares cracking new 52-week highs on Thursday
• Is this the start of an ASX 200 Santa rally?
• The A2 Milk share price just hit a 52-week high. What’s going on?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in Australia And New Zealand Banking Group and Commonwealth Bank Of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Hsbc Plc. 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 track to record a strong gain. In afternoon trade, the benchmark index is up 0.85% to 7,346.5 points.

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

Appen Ltd (ASX: APX)

The Appen share price is up 13% to $3.02. A number of beaten down ASX tech shares are charging notably higher today. This follows a strong night of trade for tech stocks on Wall Street after the US Federal Reserve hinted that supersized interest rate hikes could now be a thing of the past.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 6.5% to $2.86. Investors have been piling back into the gold miners on Thursday thanks to the aforementioned comments out of the US Federal Reserve. Investors appears to believe that interest rates won’t rise as much as previously feared, which would bode well for the gold price. The S&P/ASX All Ordinaries Gold index is up 4.1% this afternoon.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is up almost 3.5% to $113.37. This follows the release of a strategy update from the mining giant this morning. That update also came with guidance for FY 2023, which includes Pilbara iron ore shipments (100% basis) of 320Mt to 335Mt. This is flat on the original guidance it provided for FY 2022. Looking further ahead, management believes the energy transition could add as much as 25% in new demand above traditional sources on a copper equivalent basis by 2035.

Xero Limited (ASX: XRO)

The Xero share price is up 6% to $74.97. This appears to have been driven by a strong session for tech shares and the release of a bullish broker note out of Citi. In respect to the latter, the broker has retained its buy rating and $97.90 price target on the cloud accounting platform provider’s shares.

The post Why Appen, Evolution Mining, Rio Tinto, and Xero shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Xero share price hurtles higher on bullish broker note
• Why is the Appen share price surging 11% on Thursday?
• Stock market correction: A once-in-a-lifetime chance to get rich?
• Why are ASX tech shares having such a cracking run on Thursday?
• Rio Tinto share price lifts despite lukewarm iron ore outlook

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen and Xero. The Motley Fool Australia has positions in and has recommended Xero. 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 on a very pleasing run so far this Thursday, powering ahead on top of yesterday’s gains. At the time of writing, the ASX 200 has risen by a healthy 0.77%, putting the index at around 7,340 points. Today’s performance has lifted the share market to a new seven-month high.

But let’s delve deeper into this pleasing performance by taking 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 Thursday

Core Lithium Ltd (ASX: CXO)

First up this Thursday is the ASX 200 lithium share Core Lithium. So far today, a chunky 17.72 million Core shares have made their way across the ASX boards. There haven’t been any new announcements or news from the company itself.

So it’s probable that the volatility we’ve seen with this company’s shares today is the culprit behind this high volume. Core started out the day on a strong foot, rising as high as $1.40 a share soon after market open. But investors have since gotten cold feet and sent Core Lithium lower. It’s currently going for $1.34 a share, down by 0.6%.

South32 Ltd (ASX: S32)

Our next ASX 200 share worth checking out is the mining giant South32. This Thursday has had a meaningful 25.48 million South32 shares bought and sold thus far. With no news out from this company either, it seems we once again have a share price movement to thank for this volume we see.

And what a share price movement. South32 has rocketed by an impressive 6.84% so far this session to $4.29 a share. Higher commodity prices and a spectacular night of trading over in the US seem to be behind this enthusiasm.

Pilbara Minerals Ltd (ASX: PLS)

Our third and most-traded ASX 200 share so far today is none other than the lithium giant Pilbara Minerals. This Thursday has had a rather massive 31 million Pilbara shares swap hands as it currently stands. It looks like another share price gain is to thank for this volume.

Pilbara is joining in on the ASX 200 resources party today, albeit not quite as enthusiastically as South32. At this point of today’s session, Pilbara has gained a pleasing 2.25% to $4.76 a share, after dipping into red territory for a brief moment this morning. This gain and the preceding volatility is probably what is to thank for Pilbara topping today’s volume charts.

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

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More reading

• Investing in ASX shares? Here’s what the experts expect for RBA rate hikes in 2023
• Thank you Mr Powell! 7 ASX 200 shares cracking new 52-week highs on Thursday
• Can you guess which 3 ASX 200 lithium shares led the charge in November?
• Is this the start of an ASX 200 Santa rally?
• The A2 Milk share price just hit a 52-week high. What’s going on?

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 CSL Limited (ASX: CSL) share price had a good run in November.

The ASX biotech share opened at $280.68 on 1 November and closed at the end of the month at $300.11, a 6.92% gain.

The company’s shares are currently trading lower at $298.35 each, down 0.59% on the day.

CSL pulled ahead of the S&P/ASX 200 Health Care Index (ASX: XHJ) in November, which gained 5.97% over the month.

It also beat the broader market, as the S&P/ASX 200 Index (ASX: XJO) grew 6.13% over the same period.

So let’s go over the highlights of the month for CSL to figure out why it might have outperformed its peers.

What happened to the CSL share price in November?

Despite the gains by the CSL share price, it was a quiet month in terms of news from the company.

On 2 November, the company announced it had entered into a collaboration and licensing agreement with Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT).

In a nutshell, the collaboration will leverage CSL’s expertise in mRNA drug product development and manufacturing and Arcturus’s capabilities in the large-scale delivery of clinical supplies. This combination aims to enable CSL to deliver mRNA vaccines to the market at an accelerated rate and with greater efficiency.

The vaccines will be used to treat diseases such as the flu, COVID-19, and others.

CSL gives R&D investor presentation

A day after CSL announced its agreement with Arcturus, CSL published an investor presentation covering its research and development pipeline.

The company underlined its commitment to further developing its mRNA vaccines and also said it is working towards treatments for other diseases. These include haemophilia B, a rare inherited disorder that prevents the body from forming certain proteins involved in blood clotting.

Its proposed gene therapy, which is the first of its kind, is currently being reviewed by the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA). If approved, the therapy could provide a safe and effective treatment option for patients with haemophilia B.

Experts bullish on CSL share price

After these updates were posted, CSL enjoyed positive coverage from experts. The main catalyst was its R&D report which could have helped to give the CSL share price some buoyancy throughout the month.

Morgans reviewed CSL’s R&D presentation and slapped the company with a $312.20 price target, giving it a possible upside of 4.6%. Meanwhile, Citi was even more optimistic, giving the share a target of $340, or almost 14% upside.

Goldman Sachs was the least optimistic of the three, giving CSL shares a price target of $291 apiece. This means it has a potential downside of 2.5% at the time of writing.

Additionally, at the end of the month, Switzer Financial Group director Paul Rickard said he believed CSL has the momentum to bust through the $300 price level in the foreseeable future. He also praised CSL’s Vifor acquisition, which was completed in August.

The post Why did the CSL share price leap 7% in November? appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Matthew Farley 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 Csl. 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 share price of the listed investment company (LIC) Australian Foundation Investment Co Ltd (ASX: AFI) (AFIC) climbed by more than 5% in November 2022.

Its rise of 5.4% compares to a 6.1% rise for the S&P/ASX 200 Index (ASX: XJO). So, this means that the LIC underperformed the overall ASX share market.

However, with how LICs work, its portfolio value didn’t necessarily underperform the index.

The share price of a LIC can move independently of its underlying portfolio, which is different to how an exchange-traded fund (ETF) acts – the ETF closely tracks the underlying net asset value (NAV) of the assets it owns.

It’s possible for a LIC’s share price to be trading at, or move to, a premium compared to the underlying value of the ASX share. But, LICs can also trade at a discount to the net tangible assets (NTA) per share.

AFIC may not release its monthly NTA update for November 2022 until tomorrow or even next week, so investors won’t be able to see how the portfolio performed. But, investors can make an educated guess because of the movement of its biggest holdings.

Performance of AFIC’s positions

The old LIC owns a portfolio of dozens of shares.

But, we can look at the biggest positions from October and see how well they did.

The Commonwealth Bank of Australia (ASX: CBA) share price – 9.9% of the portfolio at 31 October – went up 3% over the month of November.

CSL Limited (ASX: CSL) shares – 7.9% of the portfolio – increased by 7% last month.

BHP Group Ltd (ASX: BHP) shares – 7.2% of the portfolio – went up by 21.8%.

Transurban Group (ASX: TCL) shares – 4.5% of the portfolio – rose by 7.8%.

Macquarie Group Ltd (ASX: MQG) shares – 4.5% of the portfolio – climbed by 5.4%.

Westpac Banking Corp (ASX: WBC) shares – 4.5% of the portfolio – went down by 1.4%.

While it wasn’t a strong month for domestic ASX bank shares, other industries seemed to go well.

BHP was a real standout for the AFI portfolio, while CSL and Transurban also did well.

There is increasing talk that China could decide to significantly ease its COVID rules and restrictions, which are currently putting a handbrake on the country’s growth ambitions. This seemingly hurt the iron ore price, which is a key factor in generating profit for BHP because of its mammoth operations in Australia.

Investors will also be hoping that interest rate increases by central banks may soon come to an end, or at least slow down. This could imply a lower peak interest rate, or even mean interest rates start being reduced and normalised. This could be good news for the share prices of names like CSL and Macquarie, as well as the AFIC share price.

Jerome Powell indicates interest rate increases could slow down

Powell is the boss of the US Federal Reserve.

CNBC quoted Powell talking about how the size of the increases could decline because of how it takes time for policy changes to work their way through the system, though rates will stay high:

Despite some promising developments, we have a long way to go in restoring price stability.

Thus, it makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. The time for moderating the pace of rate increases may come as soon as the December meeting.

It is likely that restoring price stability will require holding policy at a restrictive level for some time. History cautions strongly against prematurely loosening policy. We will stay the course until the job is done.

It will be interesting to see how this impacts the AFIC share price and the RBA’s thinking in the coming months.

The post Why did the AFIC share price have such a strong run in November? appeared first on The Motley Fool Australia.

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• How big is the AFIC dividend yield right now?

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 positions in and has recommended Csl. The Motley Fool Australia has recommended Macquarie Group 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 form again and on course to record a solid gain. At the time of writing, the benchmark index is up 0.75% to 7,337.6 points.

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

CogState Limited (ASX: CGS)

The CogState share price is down 5.5% to $1.84. Investors appear to have been selling this neuroscience technology company’s shares following the release of results from an Alzheimer’s trial. Although the trial delivered very impressive results, there are concerns about potential side effects from the treatment. Excitement around the trial sent the neuroscience technology company’s shares rocketing higher a couple of months ago.

Downer EDI Ltd (ASX: DOW)

The Downer share price is down 3% to $5.00. This morning this integrated services provider announced the exit of its CEO Grant Fenn. Mr Fenn will be replaced by the company’s current COO, Peter Tompkins, when he retires in February.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is down 2.5% to $5.14. This appears to have been driven by a broker note out of Macquarie this morning. Although the market responded very positively to the online furniture retailer’s trading update yesterday, Credit Suisse wasn’t impressed. In response, the broker retained its neutral rating but cut its price target to $5.03. It has also slashed its earnings estimates following the update.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2% to $36.48. This follows the release of the energy producer’s investor briefing this morning. Woodside advised that it expects to grow its production by a compound annual growth rate of 4% between 2023 and 2027. This will be underpinned by its Sangomar oil development and Scarborough gas start-up. Investors appear to have been expecting stronger production growth.

The post Why CogState, Downer, Temple & Webster, and Woodside shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Woodside share price falls as the ASX 200 giant targets 4% annual growth
• Why Ainsworth, Life360, Temple & Webster, and Whitehaven Coal are charging higher
• The Woodside share price has dropped for 5 days in a row. What’s going on?
• Temple & Webster share price rockets 15% on ‘good sign’
• Is OPEC about to give ASX 200 energy shares a boost?

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 Cogstate and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Cogstate. The Motley Fool Australia has recommended Temple & Webster 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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