Which ASX 300 shares are on the move for the start of the week?

Which ASX 300 shares are leading the way?

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The S&P/ASX 300 Index (ASX: XKO) is pushing upwards today, recovering lost ground from Friday’s 2% plunge.

At the time of writing, the ASX 300 is up 0.98% to 7,260.1 points. It’s worth noting that in the past month, the index has lost around 3.5%.

Here are some of the top movers on the ASX 300 today.

Yancoal Australia Ltd (ASX: YAL)

The Yancoal share price is picking up steam, up 15.33% to $3.46 despite no new company announcements.

The energy producer has seen its shares surge today as the spot price of coal has continued its impressive trajectory. The current price is fetching for a record high of US$228 a tonne, buoyed by severe power shortages across Asia.

China and India are facing a power crisis as coal stocks run dangerously low. India is said to have just 4 days’ worth of coal, down from 13 days of supplies in August.

Neighbouring China is also encountering issues with blackouts across the country, particularly as winter begins to set in.

Flight Centre Travel Group Ltd (ASX: FLT)

Following suit is the Flight Centre share price, up 8.60% to $23.73.

The travel agent has taken off since reporting its full-year results to the market in August, highlighting the worst has passed.

Australia’s accelerated vaccination program is on track, with selected international travel set to resume as early as next month. It appears investors are optimistic on Flight Centre shares, preparing for a strong comeback as a more agile business.

Paladin Energy Ltd (ASX: PDN)

Making headlines again is the Paladin share price, up 7.64% to 77.5 cents.

The uranium company also hasn’t released any market-sensitive news to the ASX.

However, its shares are rebounding after being sold off in the past week, down almost 7%.

The company’s share price is up by more than 560% since this time last year, and up 220% year-to-date.

In late September, Canaccord weighed in on Paladin shares, raising its price target by 70% to $1.02. Based on the current share price, this implies an upside of around 25%.

And the ASX shares in decline?

Novonix Ltd (ASX: NVX)

Heading south is the Novonix share price, down a sizeable 13.28% to $5.68.

The lithium company’s shares appear to be cooling off after registering a sharp upwards trajectory since August.

Novonix shares have accelerated by almost 120% from the start of August, and are up 460% in a year.

Imugene Limited (ASX: IMU)

Also running at a loss is the Imugene share price, down 5.89% to 44.7 cents.

The Australian immuno-oncology focused biopharmaceutical company hasn’t released any market-sensitive news to the ASX since late last month. However, its shares have tumbled from reaching an all-time high of 51.5 cents on 24 September.

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Motley Fool contributor Aaron Teboneras 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 Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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