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The team at Morgans has been look at the best ASX 200 (ASX: XJO) shares to buy this month.

Among its best dividend ideas for the month of November are the two ASX 200 shares listed below. Here’s what the broker is saying about them:

Macquarie Group Ltd (ASX: MQG)

Morgans sees this investment bank as a top option for investors right now.

This is because the broker believes Macquarie is well-placed for the long term thanks to mortgage loan market share gains and structural drivers. It explained:

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.

In respect to dividends, the broker is expecting partially franked dividends of $7.05 per share in FY 2023 and $7.36 per share in FY 2024. Based on the current Macquarie share price of $177.72, this implies yields of 4% and 4.15%, respectively.

Morgans has an add rating and $214.30 price target on Macquarie’s shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX 200 dividend share that the broker is very positive on is Telstra.

Its analysts believe the telco giant could be a great option following its successful turnaround. Morgans also highlights that Telstra’s recent restructure could unlock value in its assets. It explained:

After a major turnaround, TLS has emerged in good shape with strong earnings momentum and a strong balance sheet. In late CY22 shareholders vote[d] on Telstra’s legal restructure, which opens the door for value to be released.

TLS currently trades on ~7x EV/EBITDA. However some of TLS’s high quality long life assets like InfraCo are worth substantially more, in our view. We don’t think this is in the price so see it as value generating for TLS shareholders. This, free option, combined with likely reputational damage to its closest peer, following a major cybersecurity incident, means TLS looks well placed for the year ahead.

As for dividends, Morgans is expecting Telstra to continue to pay fully franked 16.5 cents per share dividends in FY 2023 and FY 2024. Based on the current Telstra share price of $3.86, this equates to yields of 4.3%.

Morgans has an add rating and $4.60 price target on the company’s shares.

The post Morgans names 2 of the best ASX 200 dividend shares to buy appeared first on The Motley Fool Australia.

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More reading

• Why did the Telstra share price tumble 3% today?
• 3 reasons I think the Telstra share price can beat the ASX 200 in 2023
• Here are the 3 most traded ASX 200 shares on Monday
• Why Elders, Flight Centre, Perpetual, and Telstra shares are dropping
• Are ASX share investors getting their mojo back?

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 positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Macquarie Group Limited. 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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Looking for blue chip shares to buy? If you are, check out the ASX 200 shares listed below that have recently been named as buys and tipped to have meaningful upside potential.

Here’s what you need to know about these ASX 200 blue chip shares:

SEEK Limited (ASX: SEK)

The first blue chip ASX 200 share that has been named as a buy is Seek. As well as being the online job listing leader in Australia, it operates an online employment classifieds platform across several countries.

The team Morgans is very positive on the company and believe it is well-placed to build on FY 2022’s strong performance. Its analysts commented:

Of the classifieds players, we continue to see SEEK as the one with the most relative upside, a view that’s based on the sustained listings growth we’ve seen over the period. The tailwinds that have driven elevated job ads (~250k currently, +35% on pcp) and strong FY22 result appear to still remain in place, i.e. subdued migration, candidate scarcity and the drive for greater employee flexibility. With businesses looking to grow headcount in the coming months and job mobility at historically high levels according to the RBA, we see these favourable operating conditions driving increased reliance on SEEK’s products.

Morgans has an add rating and $29.40 price target on its shares.

Treasury Wine Estates Ltd (ASX: TWE)

Another blue chip ASX 200 share that could be a buy is Treasury Wine. It is the wine giant behind popular brands including 19 Crimes, Penfolds, and Wolf Blass.

The last few years have been very tricky for Treasury Wine. As well as battling the COVID pandemic, the company was effectively kicked out of the massive China market and forced to find a new destination for its premium wines. The good news is that this has been successful.

So much so, the team at Goldman Sachs believe the company is back on course to deliver strong earnings growth in the coming years. It explained:

With proven redirection of Penfolds China volumes as well as refocusing Treasury Americas on premium/luxury, TWE is now re-entering a growth phase with a more diverse and defensive business. We have increased our FY23-25e sales and NPAT by 1%-5% and 5%-13% and now expect the company to deliver ~16% NPAT 2022-25e CAGR. The company is trading at a 12m forward P/E of 22.6x, vs our TP implied P/E of 26.3x.

Goldman has a buy rating and $14.70 price target on the company’s shares.

The post Brokers rate these blue chip ASX 200 shares as buys appeared first on The Motley Fool Australia.

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More reading

• Morgans names 3 of the best ASX 200 shares to buy in November
• Here’s why brokers rate these blue chip ASX 200 shares as buys
• Top ASX shares to buy in November 2022
• 3 ASX 200 dividend shares you may have overlooked: Wilsons
• 5 ASX shares to buy for the Christmas rally: expert

Motley Fool contributor James Mickleboro has positions in SEEK Limited. 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 SEEK Limited and Treasury Wine Estates Limited. 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 ASX lithium share sector has had a great start to the week today. Investors in the industry are getting a big boost with news out of China that could be very promising.

Firstly, let’s look at the state of play for the battery resource miners at the close of trade on Monday.

The Core Lithium Ltd (ASX: CXO) share price ripped 11.68% higher, while shares in Mineral Resources Limited (ASX: MIN) and Allkem Ltd (ASX: AKE) were up a respective 3.11% and 0.49%.

The smaller end of town also recorded strong surges, with the Liontown Resources Ltd (ASX: LTR) share price up 6.8%, Lake Resources NL (ASX: LKE) up 4.91% and Sayona Mining Ltd (ASX: SYO) closing 6.12% higher.

The exception today was the Pilbara Minerals Ltd (ASX: PLS) share price, which was down 1.49% at the close after trading 4.3% higher earlier in the day.

What’s going on with ASX lithium shares?

According to reporting by media, including Reuters, there are positive developments coming out of China.

The Asian superpower has reportedly eased some of its COVID-19 protocols – the country has been trying to keep the pandemic under control with lockdowns, which has been reducing economic growth.

Reuters reported that “the easing curbs included shortening quarantine times for close contacts of cases and inbound travellers by two days, as well as eliminating a penalty on airlines for bringing in infected passengers”.

Not only that, but Chinese regulators have reportedly told financial institutions to extend more support to property developers to help the real estate sector. This was according to two sources with “direct knowledge” of the matter.

There are 16 steps to help the industry, which include loan repayment extensions. According to reporting by Reuters, sources said that “if a loan is due to mature within six months, real estate companies can be allowed to defer repayments for one more year.”

The chief economist at Guotai Junan International, Hao Zhou, said:

The Chinese authorities provided a slew of supportive measures over the weekend to support the property sector, which is likely to improve the market sentiment towards the Chinese economy.

Weak property sales and investment suggest that a turnaround of (the) property outlook remains uncertain over the foreseeable future, which justifies the recent supportive measures from the Chinese authorities.

More economic activity in China could be a positive for ASX lithium shares because the Asian economic giant is a big consumer of lithium.

Australian and Indonesian lithium alliance

According to reporting by The Australian, Indonesia has started talking with Australia about a “plan to invest in a long-term lithium mining and processing partnership that could make the two countries the dominant global supplier of electric vehicle batteries”.

Indonesia reportedly has the world’s been  nickel reserves, a key ingredient for batteries. The country wants to ramp up the production of both electric vehicle batteries and cars.

This could further increase the demand for lithium in the future.

The post Why did ASX lithium shares have a dream run on Monday? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Leading brokers name 3 ASX shares to buy today
• Here are the 3 most traded ASX 200 shares on Monday
• Why is the Liontown share price roaring 7% higher?
• Why Accent, Block, Core Lithium, and Fortescue shares are pushing higher

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

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The S&P/ASX 200 Index (ASX: XJO) fell 0.16% today, but three tiny ASX shares stormed far higher.

The Tambourah Metals Ltd (ASX: TMB), BBX Minerals Ltd (ASX: BBX) and Invictus Energy Ltd (ASX: IVZ) share prices all exploded today.

Let’s take a look at why these ASX shares had such a top run today.

Tambourah Metals

Tambourah Metals shares closed 29% higher today. However, in earlier trade, they soared by as much as 74%. The company discovered multiple pegmatites at the RJ 101 lithium project in Western Australia. Tambourah is also purchasing a new lithium and gold exploration project in Tambina.

Commenting on the news today, managing director Paul Araujo said:

We are planning to identify and field test newly recognised pegmatite swarms at several locations within this large project area.

Invictus Energy

Invictus Energy shares soared 40% today. This followed the company releasing positive news from the Mukuyu-1 well in the Zimbabwe Cabora Bassa Basin. The well reached 3,618 metres measured depth (mMD). Elevated mud gas peaks up to 135 times above background gas baseline were discovered during drilling.

Commenting on the news, managing director Scott Macmillan said:

We have had further encouraging signs from the Mukuyu-1 well since drilling recommenced with multiple zones encountering elevated gas shows and fluorescence in our Upper Angwa primary target. 

BBX Minerals

BBX Minerals shares closed 17% in the green today. However, shares soared 32% in the afternoon before pulling back. BBX reported results from bioleaching test work at the EcoBiome Metals facility in the United States.

Test results revealed a “significant increase” in reported precious metals following bioleaching. Follow-up testing will be conducted.

The post 3 tiny ASX shares that exploded over 30% on big news today appeared first on The Motley Fool Australia.

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More reading

• Invictus Energy share price rockets again, up almost 250% in under a week
• Guess which ASX energy share is rocketing 150% on an ‘exciting development’

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 Qantas Airways Limited (ASX: QAN) share price closed 2.51% lower in trade on Monday.

Shares of the iconic airline closed at $5.82 after earlier making an intraday high of $5.94.

Meanwhile, the industrials sector, which Qantas is a part of, also struggled on Monday. In fact, the S&P/ASX 200 Industrials Index (ASX: XNJ) was the worst-performing sector on the market today, losing 2.28%.

Qantas rival Air New Zealand Limited (ASX: AIZ) also finished lower with a 1.35% loss.

Finally, the S&P/ASX 200 Index (ASX: XJO) finished the day almost laying flat, losing 0.16%.

So why did Qantas shares lag the market on Monday? Let’s investigate.

What went on with the Qantas share price today?

Qantas shares slipped on Monday as the airline contends with an underpayment claim being brought against it in Federal Court, The Australian Financial Review (AFR) reported on Sunday.

The claim is being initiated by Qantas engineers who state the airline breached the Fair Work Act as well as the graded wage structure in their industrial agreements. These breaches allegedly came in the form of engineers being demoted to lower positions in the pay scale and receiving lower salaries as a result, the reporting said.

It was also noted by AFR that the new lawsuit could be seen as a continuation of Qantas’ previous disputes with its engineers. This included a claim of alleged underpayment of salaries made by The Australian Licensed Aircraft Engineers Association (ALAEA) in 2019 that was later remediated by the airline.

When a Qantas spokesperson was asked by AFR for comment, they declined and instead referred to comments they had made relating to the earlier case in 2019:

Qantas is committed to paying its employees in accordance with relevant agreements. In this case, there is a complicated system that determines how our licensed engineers move between pay brackets Errors in this system could result in a combination of under and overpayments to individuals.

Qantas has already made adjustments to pay levels where required. What is at issue is the correct level of backpay, which Qantas has been working in good faith to determine, but is now engaged in needless court proceedings.

Qantas share price snapshot

The Qantas share price has gained around 16.07% year to date. That’s soundly beating the ASX 200 Index, which is down by around 4% over the same period.

The company’s market capitalisation is around $11 billion.

The post Why did the Qantas share price have such a lousy start to the week? appeared first on The Motley Fool Australia.

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More reading

• Are ASX share investors getting their mojo back?
• How does a weak Aussie dollar impact Qantas shares?
• Macquarie tips $800m buyback for Qantas shares
• Qantas boss says ‘we’re back’, but should you buy the ASX airline share?
• Planes, rains and automobiles: Fund names 3 ASX shares to back right now

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 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) had a pretty dreary kind of a day this Monday. The ASX 200 opened well in the green this morning, but lost all of its gains and then some by market close, finishing down by 0.16% at 7,146.3 points. But it was even worse for the Telstra Group Ltd (ASX: TLS) share price.

Telstra shares had a bit of a clanger today. The ASX 200 telco ended up down by 3.5% at $3.86 a share. It seems Telstra investors were having a bit of a Garfield moment this Monday.

So why such a decisive fall for the Telstra share price today?

Why did the Telstra share price have such a lousy start to the week?

Well, there was an announcement out from Telstra this morning, which could explain this drop.

According to the ASX release the telco put out before market open, Telstra’s group executive for transformation, communications and people, Alex Badenoch, is leaving the company. Badenoch has been at Telstra for 12 years, including six in that role.

Here’s some of what Telstra CEO Vicki Brady said on this news:

Alex was instrumental in the success of our T22 strategy and positioning Telstra as a leader in ways
of working, as well as navigating the complexity of the COVID pandemic…

Apart from her role in leading Telstra’s T22 strategy, Alex was also responsible for delivering our Pillar
3 commitments, which transformed the way we work at Telstra. This was an enormous program of
work and included shifting over 17,000 people to work in agile across the company…

Alex leaves behind a strong team with clear strategic priorities for T25 and we are confident that there is the talent, skill and drive in the team to continue going from strength to strength.

So it’s well possible that the departure of Badenoch has left Telstra shares at the forlorn state they have ended the day’s trading at. The T22 cost-cutting strategy was one that most investors welcomed, and Telstra is now carrying out its T25 successor.

Thus, it’s understandable that investors might be mourning the loss of Badenoch, a key architect of the T22 strategy.

The post Why did the Telstra share price tumble 3% today? appeared first on The Motley Fool Australia.

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More reading

• 3 reasons I think the Telstra share price can beat the ASX 200 in 2023
• Here are the 3 most traded ASX 200 shares on Monday
• Why Elders, Flight Centre, Perpetual, and Telstra shares are dropping
• Are ASX share investors getting their mojo back?
• ASX 200’s pumping Friday, but Telstra’s not. What’s going on?

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. 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) closed in the red on Monday despite a strong start to the day. The index slipped 0.16% to end today’s session at 7,146.3 points.

That was despite a strong performance from the S&P/ASX 200 Materials Index (ASX: XMJ). The mining sector lifted 3.4% on Monday, led by iron ore and lithium miners.

Their gains came amid reports China will relax certain COVID-19 restrictions. Perhaps in response, iron ore futures lifted 2.9% to US$90.79 a tonne on Friday. Meanwhile, gold futures rose 0.9% to US$1,769.40 an ounce.

The S&P/ASX 200 Energy Index (ASX: XEJ) also posted a decent start to the week, lifting 0.9% amid higher oil prices.

The Brent crude oil price gained 2.5% to US$95.99 a barrel on Friday and the US Nymex crude oil price lifted 2.9% to US$88.96 a barrel.

Unfortunately, the nine remaining ASX 200 sectors ended the day in the red, with the S&P/ASX 200 Industrials Index (ASX: XNJ) leading the fall. It tumbled 2.3% as only two of its constituents posted gains.

So, with all that in mind, which ASX 200 share outperformed all others on Monday? Keep reading to find out.

Top 10 ASX 200 shares countdown

Perhaps unsurprisingly, the biggest gain on the ASX 200 today was posted by iron ore miner Champion Iron Ltd (ASX: CIA). The stock gained 12.9% despite the company’s silence.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Champion Iron Ltd (ASX: CIA)	$6.03	12.92%
Core Lithium Ltd (ASX: CXO)	$1.865	11.68%
Fortescue Metals Group Limited (ASX: FMG)	$19.55	10.08%
Sims Ltd (ASX: SGM)	$13.22	6.87%
Liontown Resources Ltd (ASX: LTR)	$2.20	6.8%
Iluka Resources Limited (ASX: ILU)	$9.96	6.64%
Sayona Mining Ltd (ASX: SYA)	$0.26	6.12%
South32 Ltd (ASX: S32)	$4.33	5.87%
Nickel Industries Ltd (ASX: NIC)	$0.94	5.62%
Lake Resources NL (ASX: LKE)	$1.175	4.91%

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 did the AGL share price lag the ASX 200 on Monday?
• Why is the Lake Resources share price leaping 5% today?
• Here are the 3 most traded ASX 200 shares on Monday
• Considering buying the dip in Medibank shares? Here’s the latest on the company’s data hack woes
• Why is the Liontown share price roaring 7% higher?

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 Telstra Corporation Ltd (ASX: TLS) share price has the potential to beat the S&P/ASX 200 Index (ASX: XJO) return to the end of 2023, in my opinion.

The telco has managed to outperform in 2022. Despite all of the volatility, the ASX 200 has only dropped by 5.7% this year. Telstra shares have declined even less, down 5.2% this year.

Despite the economic challenges, I think the business is set up to do well in the next year. Here are some of the reasons why I hold that belief.

Good outlook for revenue resilience and growth

One of the things that may have protected the Telstra share price from a large fall this year is how defensive its revenue is. I think that households and businesses view their telecommunications service as an essential, yet inexpensive, bill to pay. The internet is integral for many things these days.

While Telstra’s current revenue seems defensive, I think there is good potential for revenue to grow in the year ahead.

The telco is adding more (mobile) subscribers every year.

Tourists are coming back to Australia, which should help increase roaming charges revenue.

For me, one of the most interesting things that could boost Telstra is the fact that it has announced that it’s going to increase mobile prices in line with CPI inflation (and this will be reviewed annually). Not only does that suggest that average revenue per user (ARPU) can increase, but inflation is running hot – so this could be a solid boost for Telstra.

Profit growth expected

Revenue growth can feed into profit growth. Net profit after tax (NPAT) is one of the most common ways for investors to value a business, so this would be helpful for the Telstra share price.

Not only is the outlook looking promising for the revenue side, but as part of its T25 strategy, Telstra is also planning to cut around $500 million of net fixed costs between FY23 to FY25. While inflation may make that goal a bit trickier, stronger inflation would be a boost for revenue. Any costs Telstra can cut are a benefit if it doesn’t affect the performance of the business.

Telstra said it’s expecting that the compound annual growth rate (CAGR) for underlying earnings per share (EPS) will be in the “high-teens”. This would be very promising for the Telstra share price if EPS starts rising strongly.

EPS growth could also help dividend growth, which could add to shareholder returns.

The ASX 200 may not rise that much 

Not only could the Telstra share price do well, but I’m not sure that the ASX 200 can perform that strongly. In other words, I don’t think Telstra will have a high hurdle to beat.

The ASX 200 hasn’t sunk like other share markets, so a recovery back to January 2022 levels wouldn’t represent a big gain.

I’m not expecting a huge rebound of the iron ore price, it could go even lower from here due to lower Chinese demand. Thus, the shares of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) – a sizeable part of the index – may therefore not deliver strong returns in 2023.

The other major part of the index is ASX bank shares like Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC). I think they’ve already seen a valuation boost in 2022 from the effect of higher interest rates. In my opinion, there aren’t likely to be many more RBA interest rate increases, and therefore that share price boosting effect may not be repeated for the banks in 2023. Competition in the sector could also offset some of the benefits of higher central bank interest rates.

So, with those factors in mind, I think the ASX 200 won’t perform as strongly as something like the S&P 500 Index (SP: .INX), or the Telstra share price specifically in 2023.

The post 3 reasons I think the Telstra share price can beat the ASX 200 in 2023 appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Monday
• Why Elders, Flight Centre, Perpetual, and Telstra shares are dropping
• Are ASX share investors getting their mojo back?
• ASX 200’s pumping Friday, but Telstra’s not. What’s going on?
• Move over ASX dividend share traps, a new investing pitfall could now be luring profit seekers

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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) ended up having a rather disappointing finish to Monday’s session. That’s despite netting some big gains early this morning. Even so, the ASX 200 has finished up for the day at 7,146 points, down by 0.16%. But that’s nothing compared to the AGL Energy Limited (ASX: AGL) share price.

AGL shares had a pretty disappointing day. The energy utility share fell by a nasty 1.41%, ending the trading day at $7.70 a share.

So what happened with AGL shares this Monday that might have elicited such an underperformance of the broader market?

Well, there hasn’t been any news or announcements out of the company today, just to clear that up.

But perhaps investors are still feeling a little disappointed after the news last week regarding AGL’s rival Origin Energy Ltd (ASX: ORG).

Origin revealed it was likely to recommend the $9 per share bid from Brookfield Asset Management and MidOcean Energy to its shareholders last week. So it appears AGL has been overlooked, and shareholders have had to watch Origin shares rocket more than 30% since last Wednesday. That’s gotta hurt.

But AGL has also got a big day ahead of it tomorrow. That’s when the company is holding its annual general meeting (AGM). This could matter even more than normal.

AGL share price struggles before AGM

That’s because AGL is still in the midst of something of a power struggle. Activist shareholder Mike Cannon-Brookes has already almost single-handedly scuttled the proposed demerger that AGL was considering until a few months ago. That’s despite a relatively small personal stake (through Grok Ventures) in the company worth just over 11%.

Cannon-Brookes is also putting forward his own nominees for AGL’s board tomorrow. According to reporting in the Australian Financial Review (AFR) today, shareholders do look set to give the nod to Cannon-Brookes’ four nominees. This would see the AGL board swell to nine members.

However, the report also claims that shareholders are about to endorse the energy transition strategy that the incumbent directors have put forth as well. This, the article alleges, could result in “potentially giving the warring factions of chairman Patricia McKenzie and major shareholder Mike Cannon-Brookes’ competing claims to a mandate”.

AGL has seen perhaps the most disruptive period in its near-200-year history in the past few years. The company’s shares have fallen by 75% in value over the past five years. It has fallen from around $25 a share to the $7.70 we see today.

So in light of all this, it would probably be fair to say that many shareholders crave consistency and stability. It doesn’t look like tomorrow’s AGM will throw up much of that. This might be the reason investors stayed away from AGL shares today.

The post Why did the AGL share price lag the ASX 200 on Monday? appeared first on The Motley Fool Australia.

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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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It’s been nearly a month since the Medibank Private Ltd (ASX: MPL) share price was first dinted by what initially appeared to be a ‘cyber incident’ and soon became an all-out attack.

The market and, assumably, most Australians are now aware of the hackers that took off with the personal, and often health-related, data of nearly 10 million Medibank customers.

Mostly as a result, the Medibank share price is nearly 18% lower than it was this time last month. It’s currently trading down 1.58% at $2.80. For comparison, the S&P/ASX 200 Index (ASX: XJO) has gained around 6% in that time.

And the damage could be set to continue. A leading Australian law firm is investigating a potential class action against the company, and the hackers have continued publishing stolen data.

Let’s take a look at the latest woes potentially facing the health insurer.

The latest on the Medibank data hack

Interested in buying the dip in the Medibank share price? It seems there could be more bad news coming the health insurer’s way.

Firstly, the hackers – believed to be in Russia, according to the Australian Federal Police (AFP) – reportedly posted data related to Medibank customers’ mental health treatments on the dark web overnight. It’s the latest in a string of releases that started last Wednesday.

Data related to hundreds of claims was included in the latest drop, the Guardian reports. Though, it might be the last such headline for a number of days now.

The hackers have reportedly promised to hold off more drops until Friday in hopes “something meaningful” happens at the company’s annual general meeting (AGM). The meeting will be held on Wednesday.

Meanwhile, Maurice Blackburn is investigating a potential class action against the company.

Fellow firms Bannister Law Class Actions and Centennial Lawyers were previously reported to be considering legal action against the company.

Medibank share price snapshot

The Medibank share price’s recent tumble has placed it well and truly in the red year-to-date.

The stock has fallen 18% since the start of 2022. It’s also 19% lower than it was this time last year.

For comparison, the ASX 200 has fallen 6% year to date and 4% over the last 12 months.

The post Considering buying the dip in Medibank shares? Here’s the latest on the company’s data hack woes appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Monday
• The South32 share price has leapt 10% in a month. Is it too late to buy?
• Up 55% in 2022, why the Pilbara Minerals share price ‘still trades at attractive multiples’: fundie
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• This ASX 200 share has surged 15% in a month, and a director is still buying up big

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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