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The Ramsay Health Care Limited (ASX: RHC) share price is ending the week on a high.

In afternoon trade, the private hospital operator’s shares are beating the ASX 200 index with a 5% gain to $62.02.

Why is the Ramsay share price beating the ASX 200?

Investors have been bidding the Ramsay share price higher on Friday following the release of the company’s first quarter update.

According to the release, activity levels improved across all regions over the quarter compared to the prior corresponding period. Management advised that this reflects the decline in COVID cases in the community.

In light of this, the COVID impact on its profits in Australia and the UK fell from $44 million in July to just $5.9 million in September. The total impact across the quarter in these markets is estimated to have been $64.4 million.

Ramsay also revealed that it has been fighting rising costs. It advised that it is focused on negotiating improved terms with payors to reflect higher staffing costs related to labour shortages and inflationary pressures. Management notes that it finalised satisfactory new agreements with a number of private payors over the quarter.

This ultimately led to Ramsay reporting a 6.7% increase in revenue to $3,445.4 million and a 2.3% decline in EBITDA to $410.6 million for the first quarter.

Outlook

Pleasingly, this momentum has carried over into October, with Ramsay starting the second quarter positively. Looking ahead, management appears optimistic that it is onwards and upwards from here.

It commented:

The outlook for the Group remains strong as the business is well placed to take advantage of the positive long-term dynamics driving the healthcare industry. Ramsay expects a gradual recovery through FY23 and more normalised conditions from FY24.

The Ramsay share price remains down 13.5% in 2022 despite today’s decline.

The post Here’s why this ASX 200 healthcare share is racing 5% higher appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 lithium shares smashing all-time highs on Friday
• Why Computershare, Jervois Global, Origin, and Whitehaven Coal shares are sinking
• Why Wesfarmers shares could be a dirt-cheap buy right now
• Here are the 3 most traded ASX 200 shares on Friday
• 4 ASX 200 shares trading ex-dividend next week

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 Ramsay Health Care 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a stunning gain. At the time of writing, the benchmark index is up 2.7% to 7,154.2 points.

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

Computershare Limited (ASX: CPU)

The Computershare share price is down 3% to $26.21. This could be due to profit taking after a strong gain on Thursday and the latest inflation reading in the United States. With inflation coming in lower than expected, investors are betting that interest rates may not rise as much as feared. This would be a negative for Computershare given its positive leverage to rising rates.

Jervois Global Ltd (ASX: JRV)

The Jervois Global share price is down 19% to 40.7 cents. This follows the completion of a $231 million institutional placement and entitlement offer. The mineral exploration company raised the funds at a discount of 42 cents per share. The proceeds will be used to support the restart of the São Miguel Paulista refinery in Brazil, ramp up Idaho Cobalt Operations in the United States, and progress a bankable feasibility study for expansion of its cobalt refinery capacity in Finland.

Origin Energy Ltd (ASX: ORG)

The Origin share price is down 3.5% to $7.55. This may have been driven by profit taking after a huge gain on Thursday following the receipt of a takeover approach. In addition, concerns that the $18.4 billion deal may not get approved by regulators could be weighing on sentiment today. Origin is trading well below the offer price of $9.00 cash per share.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 5% to $7.91. Investors have been hitting the sell button on Friday amid concerns the government could introduce temporary taxes on coal miners. When asked about the potential for a new temporary tax on gas and thermal coal, Prime Minister Anthony Albanese said: “Well, what we know is that we can’t just sit back and watch while energy prices go through the roof for households and for businesses.”

The post Why Computershare, Jervois Global, Origin, and Whitehaven Coal shares are sinking appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Friday
• Brokers name 3 ASX shares to buy today
• Why is the Whitehaven Coal share price falling in a hole on Friday?
• Elon Musk’s ‘Alan Bond’ moment?
• 5 of the craziest things making news on the ASX this week

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 Wesfarmers Ltd (ASX: WES) share price has been going upwards in recent weeks. In the last month alone it has risen by around 7%.

However, there’s an argument to say that the business is still cheap.

For starters, the Wesfarmers share price still registers a decline of more than 20% this year amid strong inflation and higher interest rates.

A decline by itself doesn’t mean that the business is of good value. It’s possible for a company to fall and it’s (still) expensive.

Quality retail portfolio

The broker Morgans likes the business because of its “quality retail portfolio” and “highly regarded management team”, as reported by my colleague James Mickleboro.

Wesfarmers owns a number of different retail businesses including Bunnings, Kmart, Officeworks, Catch, Target and Priceline.

I think that Bunnings, Officeworks and Kmart are leaders in their respective sections of the retail world.

It’s worth paying up for the leader of an industry, in my opinion, assuming it has a promising future.

For what it’s worth, Morgans has a price target of $55.60 on the Wesfarmers share price, which implies a possible rise of more than 15%.

Director buying

I think it’s worth pointing out that a director has been buying shares of Wesfarmers recently, according to reporting by my colleague Sebastian Bowen.

When the leadership deem the shares to be worth buying on the market, that could be a useful buying signal.

Mike Roche reportedly bought another 1,500 shares at $44.94 per share.

Long-term potential of Wesfarmers shares

I like to invest in businesses that I could hold forever. It’s easier if you don’t have to worry about when to sell shares, and this strategy can also reduce/remove the impediments of brokerage and taxes on capital gains.

Wesfarmers is the type of business I could see myself holding forever. Not only does it currently own a quality portfolio, but it has the flexibility to adjust its portfolio of businesses over time. For example, it recently started a healthcare division after the acquisition of Priceline, Soul Pattinson Chemists and Clear Skincare Clinics.

I think the Wesfarmers share price is at a cheap enough level to buy and own for the long term.

According to Commsec, it’s valued at 22 times FY23’s estimated earnings. I think this is a good price for a great business.

The post Why Wesfarmers shares could be a dirt-cheap buy right now appeared first on The Motley Fool Australia.

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More reading

• 4 ‘fantastic long-term’ ASX shares to put on your watchlist: fund manager
• Morgans says these top ASX dividend shares are buys
• A director has been buying up Wesfarmers shares. Should you?
• 3 ASX 200 directors buying up their company shares in the past week
• Do Wesfarmers shares really offer 22% upside AND growing dividends?

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 positions in and has recommended Wesfarmers 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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What a day it has been for the S&P/ASX 200 Index (ASX: XJO) and ASX shares this Friday so far.

After yesterday’s loss, the ASX 200 has bounced back with a vengeance after a stunning night on the US markets last night. At the time of writing, the ASX 200 has rocketed by a pleasing 2.7%, propelling it back over 7,100 points.

But it’s time to dig deeper into these market moves. So let’s take a look at the shares that are currently dominating the ASX 200’s share trading volume charts right now, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Origin Energy Ltd (ASX: ORG)

Our first share up for discussion this Friday is the ASX 200 energy utility company Origin Energy. So far this session, a hefty 26.1 million Origin shares have been transferred to a new address. After rising almost 35% yesterday on the back of a takeover offer, Origin shares are coming back to earth slightly today.

The company has lost 3.5% at the time of writing to $7.56 a share. With all of the drama surrounding the takeover, not to mention the big share price moves, it’s no surprise to see Origin Energy on this list today.

Evolution Mining Ltd (ASX: EVN)

ASX 200 gold miner Evolution has been in the spotlight for much of this week. So far today, a sizeable 28.9 million Evolution shares have been panned out of the proverbial ASX river. This comes after yet another strong day for the gold price.

Evolution, along with other ASX gold miners, continues to push higher on the back of this strong gold price. Evolution shares are up another 5.76% today thus far to $2.57 a share. The company has risen almost 20% over the past week now. With these gains under the belt, there’s little doubt why so many shares are flying around.

Core Lithium Ltd (ASX: CXO)

Our third, final and most traded ASX 200 share today is none other than the ASX 200 lithium stock Core Lithium. At this point of today’s session, a whopping 37.1 million Core shares have been bought and sold on the markets.

Again, this seems like a byproduct of a healthy share price gain. Core Lithium shares have also rallied this Friday, gaining a robust 5.3% presently to $1.68 each. This comes after an evidently well-received business update this morning. This large rise in value is the probable cause for the elevated volumes we are witnessing.

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

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More reading

• 4 ASX 200 shares trading ex-dividend next week
• Why did the AMP share price just crack a new 52-week high today?
• Why is the Fortescue share price launching 5% on Friday?
• Elon Musk’s ‘Alan Bond’ moment?
• 5 of the craziest things making news on the ASX this week

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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You can’t have a dividend from an ASX 200 share without an ex-dividend date. While investors might not enjoy the share price falls that typically come with an ex-dividend date, the company has to draw the line between who gets the dividend and who doesn’t somewhere. There’s no free lunch here.

So here are five ASX 200 dividend shares that are cutting off new investors to their upcoming dividend payments next week.

4 ASX 200 shares going ex-dividend next week

Coronado Global Resources Inc (ASX: CRN)

First up is ASX 200 coal share Coronado. Coronado declared a special dividend of 13.42 US cents per share at the end of last month. The Australian dollar figure has yet to be determined. This special unfranked dividend is coming investors’ way on 12 December.

But investors have until 18 November, next Friday, to own Coronado shares if they wish to receive it. We will find out exactly how much shareholders are in line for in Aussie dollar terms on 24 November.

National Australia Bank Ltd (ASX: NAB)

Here is an ASX 200 bank share that we do know how much is coming investors’ way. NAB is another share that is lined up to pay out its shareholders soon. The bank’s final and fully franked dividend of 78 cents per share is scheduled to hit bank accounts on 14 December.

Investors will need to own NAB shares before the ex-dividend date of 15 November, next Tuesday. Investors can also receive additional shares instead of cash with the bank’s dividend reinvestment plan (DRP). The election date for the DRP is 17 November.

Westpac Banking Corp (ASX: WBC)

NAB isn’t the only ASX 200 bank about to pay out a dividend. Westpac shareholders are also in line to receive their final dividend soon. Westpac will dole out its cash on 20 December (Merry Christmas!), but investors will need to own the shares by the ex-dividend date of 17 November, next Thursday.

The final dividend will be worth 64 cents per share, fully franked. Like NAB, Westpac investors also have the choice of opting for the optional DRP, with the election date set for 21 November.

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

Finally, we have the ASX 200 investing conglomerate Soul Patts. Soul Patts has the distinction of being one of the only ASX shares with a 21-year streak of raising its annual dividend every year. The streak continues this year, with the company’s final dividend of 43 cents per share coming in over last year’s payout of 38 cents per share.

In addition, Soul Patts will also be doling out a special dividend worth 15 cents per share as well. Both will come fully franked. The ex-dividend date for both payments is scheduled for 18 November, next Friday, with the payment date to be 12 December.

The post 4 ASX 200 shares trading ex-dividend next week appeared first on The Motley Fool Australia.

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More reading

• Why did the AMP share price just crack a new 52-week high today?
• Why is the Fortescue share price launching 5% on Friday?
• 5 of the craziest things making news on the ASX this week
• Can this help A2 Milk pick up the pieces in China?
• Why have Minerals Resources shares hit two new all-time highs this week?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company 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 Sayona Mining Ltd (ASX: SYA) share price is outperforming the S&P/ASX 200 Index (ASX: XJO) today.

Sayona shares are up 4% and are currently trading at 25 cents. For perspective, the ASX 200 is up 2.62% today.

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

What’s going on?

Sayona Mining is not the only ASX lithium share to rise today. Core Lithium Ltd (ASX: CXO) shares are up nearly 6%, while Piedmont Lithium Inc (ASX: PLL) shares are up 3.57%.

Sayona shares appear to be lifting amid a strong day for the ASX 200. Sayona joined the ASX 200 as part of the September quarterly rebalance.

Commenting on today’s ASX gains, City Index senior market analyst Matt Simpson said:

The combination of soft US inflation and the RBA’s hint at a pause has done wonders for the ASX 200, which is currently enjoying its second best day this year and back above 7100.

Sayona Mining is aiming to become North America’s largest lithium producer. The company is planning production from the North American Lithium operation in Canada in quarter one, 2023.

ASX lithium shares appear to be following in the footsteps of USA lithium shares today.

Sociedad Quimica y Minera de Chile (NYSE: SQM) shares rose 4% overnight, Livent Corp (NYSE: LTHM) shares leapt ahead 8.69% and Sigma Lithium Corp (NASDAQ: SGML) shares jumped 2.3%.

The USA had its top day of trading in more than two years, as my Foolish colleague James reported today. The NASDAQ-100 Index (NASDAQ: NDX) jumped 7.49%, while the S&P 500 Index (SP: .INX) stormed 5.54% higher.

Inflation data was cooler than expected. Janney Montgomery Scott chief investment strategist Mark Luschini told Bloomberg:

Investors have been wanting to bid prices higher on any catalyst, and this is as good as any.

Sayona Mining share price snapshot

Sayona Mining has exploded 92% in the year to date, while it has risen 66% in the past year.

For perspective, the ASX 200 has shed 4% in the past year.

Sayona has a market capitalisation of more than $2 billion based on the current share price.

The post Why is the Sayona Mining share price rising today? appeared first on The Motley Fool Australia.

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More reading

• Up 75% in 2022, is it time to cash in on Sayona Mining shares?
• Are ASX 200 lithium shares the new recession-proof investment?
• Why has the Sayona Mining share price dumped 33% in 2 months?
• Why did ASX lithium shares smash the market on Tuesday?
• Here are the 10 most shorted ASX shares

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 S&P/ASX 200 Index (ASX: XJO) has followed the lead of Wall Street and is racing higher. In afternoon trade, the benchmark index is up 2.6% to 7,145.9 points.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is up over 12% to $1.69. This morning this footwear retailer released a trading update and revealed a 52% increase in total group owned sales for the first 18 weeks of the financial year. Accent also reported a 570 basis points increase in its gross margin over the period.

Block Inc (ASX: SQ2)

The Block share price is up 12% to $101.49. This follows a very strong showing for the payment company’s NYSE listed shares on Thursday night. Block’s shares rose 18% on Wall Street after investors flooded back into the tech sector amid hopes that inflation could now be peaking. The market appears hopeful that this could lead to the US Federal Reserve slowing its interest rate hikes.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 4% to $5.68. This appears to have been driven by a broker note out of Credit Suisse. According to the note, the broker has upgraded this agricultural chemicals company’s shares to an outperform rating with a $6.85 price target. This implies potential upside of 20% from current levels.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 20% to 75 cents. Investors have been buying Zip and other ASX tech shares today following the softer inflation reading in the United States. The gains have been so strong in the sector that the S&P/ASX All Technology Index has risen almost 5% today.

The post Why Accent, Block, Nufarm, and Zip shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Wowsers: Why the Zip share price is up 18% today
• 3 ASX 200 tech shares booming 10% or more on Friday
• ASX 200 tech shares jump 6%
• Why is this ASX All Ords retail share rocketing 13% higher today?
• Analysts say these ASX dividend shares are buys

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Accent 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Quarterly reports have given electric vehicle (EV) investors plenty to look at recently. Many stocks in the sector have been heading lower in recent weeks. Tesla (NASDAQ: TSLA) has led the way, perhaps for non-business-related reasons. Even with a bounce in the stock today, Tesla shares are down almost 17% just so far in November.

A jump in several stocks in the EV sector today may be due to more general economic news, but some of those are outperforming even the mammoth 6% gain the Nasdaq Composite index is seeing. As of 1:45 p.m. ET today, Tesla shares were up 6.1%. But Lucid Group (NASDAQ: LCID) and Fisker (NYSE: FSR) were higher by 7.1% and 21.6%, respectively. 

So what

Today’s Consumer Price Index (CPI) data showed that inflation slowed last month as the metric climbed at a 7.7% annual rate. That was below expectations and down from September’s 8.2% annual rate. Investors believe that’s a significant data point that could lead the Federal Reserve to slow or pause interest rate hikes. That resulted in today’s heavy buying of technology and growth stocks, including the EV sector.   

Now what

The move higher marks a reversal for Tesla shares, which have been on a slide recently. Investors found out on Tuesday that the downtrend was likely partially due to CEO Elon Musk selling almost $4 billion in his Tesla stock. Over a recent four-day span, Musk sold 19.5 million shares, raising about $3.95 billion. It’s still unclear if those sales were related to his Twitter purchase, since they occurred after that transaction closed. But it seems likely that it was in some way related. 

Lucid’s bounce today follows a 17% drop yesterday after the company reported its third-quarter results. Investors were not happy to see a decline in reservations for Lucid’s luxury EVs. But there were also positive takeaways from that report. The drop in reservations can be explained by the production delays that have plagued the company along with competitor vehicles entering the market. 

Lucid also told investors it was planning to raise another $1.5 billion through stock sales. Investors don’t want to see that dilution to existing shareholders, but Lucid had previously filed to potentially sell enough shares to raise up to $8 billion over three years. So it shouldn’t have come as a surprise, and the money will go toward growing the company’s international presence. 

Fisker hasn’t begun production yet, but it expects to just one week from now. That stock will likely remain volatile based on how its electric Ocean SUV is received, along with what the company says about production volumes.  

Today, these risky names got a boost from the macroeconomic news regarding inflation. Technology names in general will also likely continue to react to future data as it relates to where interest rates will head. Investors should be prepared for days like today — in either direction. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla Shares Jumped Today appeared first on The Motley Fool Australia.

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More reading

• Why Tesla stock is tumbling today
• Why did Elon Musk just sell $6 billion worth of Tesla shares?
• Why Tesla hit a new 52-week low today
• Why Tesla shares dropped below $200 on Monday
• Forget Dogecoin, this crypto could be the even bigger winner from Elon Musk’s Twitter takeover

Howard Smith has positions in Lucid Group, Inc. and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The United States just reported a softer-than-expected inflation number for October and the S&P/ASX 200 Index (ASX: XJO) sure is celebrating.

Most ASX investors’ portfolios and watchlists are a flood of green today. What a nice change, right?

At the time of writing, the ASX 200 is up 2.53% and the S&P/ASX All Ordinaries Index (ASX: XAO) is up 2.58%.

So, why is the Santos Ltd (ASX: STO) share price struggling?

Santos shares are currently flat at $7.52 per share but have spent much of the day in the red.

Why is Santos underperforming?

We’re possibly seeing a flow-on effect with the Santos share price today, following a major announcement on Tuesday.

Santos reduced its guidance for 2023 production and also revealed plans for a major restructure.

Santos will split its business into two divisions: Upstream Gas and Liquids and Santos Energy Solutions.

As reported by my Fool colleague Brooke, the Santos share price fell 5% on the day of the news. It hasn’t recovered since.

The only news from Santos today is another in a series of daily share buyback notices.

Overnight, the price of natural gas fell by 2.02% to US$6.11 MMBtu. The price is down 9.65% over the past month, according to Trading Economics.

Fundie says Santos share price is a sell

Benjamin Goodwin of Merlon Capital writes on Livewire that it’s time to cash in on ASX energy stocks.

His fund has taken profits on Santos shares as well as Woodside Energy Group Ltd (ASX: WDS) shares.

The fund has also sold down Ampol Ltd (ASX: ALD) and Viva Energy Group Ltd (ASX: VEA), as well as the ASX coal shares of New Hope Corporation Limited (ASX: NHC) and Whitehaven Coal Ltd (ASX: WHC).

Goodwin said:

Having previously identified and invested in the opportunities made available through prolonged underinvestment in traditional energy fuels and invested on the basis of the estimated risk/return trade-offs, we have been steadily reducing exposures as companies in this space have outperformed.

The post Why are Santos shares missing out on the ASX 200 party today? appeared first on The Motley Fool Australia.

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More reading

• Don’t panic! Here are 7 reasons we can avoid a recession: AMP
• 5 things to watch on the ASX 200 on Thursday
• Top brokers name 3 ASX shares to buy today
• Why did the Santos share price take a dive following the company’s investor briefing?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Bronwyn Allen has positions in Woodside Petroleum Ltd. 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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Another week, another 52-week high for the AMP Ltd (ASX: AMP) share price.

The stock has been on a roll lately, hitting a 52-week high of $1.285 last Wednesday before matching it on Monday.

And it’s gone one further today, cementing an 18-month high of $1.295 in intraday trade on Friday. That marked a 2.37% gain on its previous close.

However, the AMP share price has since eased slightly. It’s currently trading at $1.29, 1.98% higher than it was at the end of Thursday’s session.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has risen 2.54% at the time of writing.

The ASX 200 is seemingly taking the lead from New York, as is the S&P/ASX 200 Financials Index (ASX: XFJ). The sector has gained 1.95% right now.

So, what might be helping to drive the AMP share price – and the broader market – higher today? Let’s take a look.

AMP share price inks new 52-week high

The AMP share price inked a new 52-week high today despite no news having been released by the embattled financials giant.

While the stock has had a good run through 2022 so far, it’s still nearly 75% lower than it was in November 2017.

Today’s gains come amid a broader market surge, apparently brought on by an even stronger session on Wall Street overnight.

While most of Australia slept, the Dow Jones Industrial Average Index (DJX: .DJI) rose 3.7% and the S&P 500 Index (SP: .INX) lifted 5.5%. In true 2022 fashion, the gains appeared to be spurred by softer-than-expected US inflation data.

The nation’s consumer price index rose 0.4% in October and 7.7% over the prior 12 months, according to data released on Thursday (US time). That seemingly bolstered hopes the US Federal Reserve might ease up on rate hikes.

Friday’s lift included, the AMP share price is 29% higher than it was at the start of 2022. It has also gained 12% since this time last year.

Comparatively, the ASX 200 has fallen 6% year to date and 3% over the last 12 months.

The post Why did the AMP share price just crack a new 52-week high today? appeared first on The Motley Fool Australia.

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More reading

• Why is the Fortescue share price launching 5% on Friday?
• Can this help A2 Milk pick up the pieces in China?
• Why have Minerals Resources shares hit two new all-time highs this week?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares 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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