One of the great silver linings of a bear market is that it's sometimes possible to snap up great companies at a bargain price.

Shares on the following list have fallen 30% or greater year to date and have strong business outlooks ahead of them.

However, these companies are unlikely to stay cheap forever.

So to lock in some potential gains, let's cover which shares could be worth buying before the curtain falls on 2023.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The Nine Entertainment share price is down 30.7% so far this year but could be poised to recover strongly. One reason to be bullish is that the company's revenues are scaling upwards.

Nine Entertainment's advertising revenue growth is primarily driven by the company's strong presence in the Australian media market. Nine Entertainment is the leading commercial free-to-air broadcaster in Australia and is home to some of the country's most popular television shows.

In August, the company reported its revenues increased 15% YOY (year over year) to $2.7 billion in FY2021. Meanwhile, its bottom line also saw a lift, with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) growing 24% to $700.7 million.

Some analysts agree the share could be undervalued. These include Shaw and Partners portfolio manager James Gerrish, who noted:

At just 11 times expected FY23 PE, Nine is undervalued and recent numbers suggest the underlying business is holding up better than expected.

Xero Limited (ASX: XRO)

Xero, which provides a software-as-a-service (SaaS) accounting solution to businesses, has also had a rough year, with its shares losing almost 50% of their value year to date.

Some reasons to be bullish about Xero include its total addressable market, recent financial performance, and discounted share price.

When the company reported its results for FY2021 in May, Xero stated it had grown its user base in all of its key regional operating segments including Australia, New Zealand, and the United Kingdom.

Looking ahead, there could be a strong opportunity for Xero to continue adding users in its North American segment where it reported a relatively low user penetration of 339,000 subscribers. With approximately 33.2 million small businesses in the United States alone, it suggests substantial room for growth.

In terms of Xero's financials and key metrics, its total subscribers grew 19% YOY in FY2021 to 3.3 million, while its annualised monthly recurring revenue (AMRR) grew 28% to NZ$1.2 billion. It should be noted Xero recorded a net loss after tax of NZ$9.1 million during this period.

As for its share price, Morgans gave it a price target of $77 earlier this month. That represents an upside of 5.5% at the time of writing.

ARB Corporation Limited (ASX: ARB)

ARB designs and manufactures automotive accessories for four-wheel-drive (4WD) and light commercial vehicles. The company has seen its share price drop 47% so far this year.

But its recent top and bottom line performances, as well as its robust balance sheet may pique investors' interest.

As part of its full-year results for FY2022, ARB stated its revenues grew 11.4% YOY to $697.3 million while net profit after tax (NPAT) grew 8.1% YOY to $122 million. At the time, ARB said it had no debt on its books along with a healthy cash reserve balance of $52.7 million.

Although it declined to give revenue and earnings guidance as part of its results, ARB did paint a bullish picture of where it will be headed in 2023 and beyond.

ARB Corporation's managing director Andrew Brown said:

The board remains positive and expects that the company should benefit by the end of calendar 2022 from recent new vehicle models, a strong customer order book sitting well above historical levels, a number of all-new products due for imminent release, healthy demand for the company's products around the world and the prospect of increasing supply of new vehicles to the market.

Citi analysts gave ARB Corporation's share a price target of $39.25 in November. That represents almost a 40% upside at the time of writing.

The post Looking for bear market bargains? 3 ASX shares to buy before 2023 appeared first on The Motley Fool Australia.

More reading

• How to build a $500,000 ASX share portfolio step by step
• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• The tech rally is back: here are 5 ASX shares leading the charge
• Why I think these ASX tech stocks are strong buys
• Are these the best ASX growth shares to buy and hold for 10 years?

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 Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended ARB Corporation and Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

One fund manager has chosen five ASX shares that could help investors profit through an uncertain environment in 2023.

SG Hiscock portfolio manager Hamish Tagdell shared his stock picks this week in the Australian Financial Review.

Amid a backdrop of soaring inflation and rising interest rates, Tagdell made the following comments about his thesis for these shares:

One of our greatest learnings through COVID and the last number of years is understanding the difference between uncertainty and risk. Uncertainty means change, which also brings about ingenuity, entrepreneurship, and opportunity.

So let's take a look at which shares he believes could deliver solid returns in the future.

Fundie buys up ASX energy shares

Woodside Energy Group Ltd (ASX: WDS) was one of Tagdell's top picks. The world's possibly lengthy transition from fossil fuels to renewables was cited as a catalyst for hydrocarbons such as gas, which Woodside produces in spades.

Tagdell said:

We've liked it [Woodside] for a while because we think gas is an important transition fuel in the decarbonisation debate. We think being able to do the energy transition in a reliable way is important.

Earlier this year, Wilsons equity strategist Rob Crookston mirrored Tagdell's sentiment that natural gas will become a key commodity in the coming decades. Crookston stated that gas will end up replacing coal as the second most important energy material by 2030.

Bullish on Woodside and BHP Merger

Tagdell noted the strength of Woodside after it merged its oil and gas business with BHP Group Ltd (ASX: BHP) earlier this year.

BHP itself also earned a spot in Tagdell's portfolio as one of his prominent holdings.

My Fool colleague Tristian noted that the merger confers several benefits that the fundie could be feeling bullish about. One of these benefits included unlocking a possible US$400 million in operational synergies.

Another part of this strength comes from his view that gas will continue to be in hot demand and that it has room for additional growth potential, as Tagdell noted:

Woodside has a strong position, post the BHP deal – it's very well capitalised. In terms of balance sheet, it's got good growth options through Scarborough and the West Australian developments it's looking at. And that's in a world where I think there's clearly an increased demand for gas.

Tagdell deepened his position of investing in natural gas producers and cited another ASX energy share as a top portfolio pick: Cooper Energy Ltd (ASX: COE).

What else is the fundie buying?

Tagdell praised Chorus Ltd (ASX: CNU), saying it laid the foundation to generate a healthy amount of free cash flow, some of which could be diverted back to shareholders in the form of bigger dividends. He also believes that Chorus's shares can be fetched at a discount as they are presently undervalued.

These comments come amid Chorus's strong performance in FY22. Its top and bottom lines expanded, and it issued a final unfranked dividend of 35 cents per share.

Tagdell said:

[Chorus is] moving from investment to operating mode, and we expect a strong increase in free cash flow. That should enable them to start paying attractive dividends and on our valuation it's trading on an eight to nine per cent free cash flow yield, or an EV to EBITDA multiple about eight times at the moment.

Qube Holdings Ltd (ASX: QUB) was the fund manager's final pick. He cited Qube's undervalued share price and future growth prospects as being strong reasons why the share was added to his portfolios.

Over the last 12 months or so, I think [Qube] delivered 25 per cent underlying earnings growth and is expected to post strong earnings growth into 2023.

And that's a result of its privileged asset position. We think it's underappreciated at the moment, trading on an attractive valuation with attractive growth over the next 12 to 18 months.

The post The difference between uncertainty and risk': 5 ASX shares this fundie is backing for 2023 appeared first on The Motley Fool Australia.

More reading

• If I invest $10,000 in BHP shares, how much passive income will I receive in 2027?
• This ASX copper stock could be cheap compared to BHP and Rio Tinto shares
• Guess which ASX 300 energy stock is surging today on big AGL news
• Can BHP shares smash through the $60 record barrier in April?
• 5 things to watch on the ASX 200 on Friday

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.

The Sayona Mining Ltd (ASX: SYA) share price delivered an unimpressive performance in November.

Shares in the ASX lithium company opened at 23.5 cents each on 1 November and closed lower at 23 cents a share at the end of the month for a 2.13% loss.

By comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) had a spectacular month in November. The index climbed 16.23% for the month.

And more broadly, the S&P/ASX 200 Index (ASX: XJO) also made a 6.13% gain over the same period.

Currently, Sayona shares are going for 22.7 cents apiece, a 1.3% drop on yesterday's closing price.

Let's take a look at what the last month held for Sayona and where it might be headed.

What happened to Sayona in November?

Recently, the Motley Fool reported that lithium shares, like Sayona, could be suffering from reduced demand for battery materials in China. This comes amid COVID lockdowns and protests in the country causing operational disruptions in the manufacturing of electric vehicles (EVs).

As noted by my colleague Monica O'Shea, there could potentially be an oversupply of batteries for EVs in China by 2025. Both of these headwinds could have weighed on Sayona's share price near the end of the month.

Another development was Sayona issuing 185 million new shares to the market on 18 November. The company said it would use the funds to acquire an additional 1,824 exploration claims near its 60%-owned Moblan lithium project in Canada.

As well as acquiring an extra 985 kilometres of land for exploration, Sayona announced it would also be buying a 9.26% stake in the seller, the Canadian-listed Troilus Gold Corp.

What's next?

In other news for the month, Sayona announced that it has made progress in the restart of its North American Lithium (NAL) operations in Quebec, Canada. The company expects to start producing lithium from the site in the first quarter of next year.

Yet it seems experts are split on the broader outlook for lithium producers such as Sayona.

Global Lithium LLC founder and president Joe Lowry recently predicted that the price of lithium hydroxide could reach USD $100,000 per tonne. That's well up from the US $85,000 per tonne it's fetching at the time of writing. The strong demand for electric vehicles was said to be a tailwind that could further lift the price of lithium hydroxide.

However, Schroders head of Australian equities Martin Conlon believes that even the current lithium prices are "vastly higher than needed to incentivise new supply and are therefore difficult to rationalise on any fundamental basis".

It appears Conlon believes lithium is presently overvalued and could be due for a downside correction.

The post The Sayona Mining share price went backwards in November. What now? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• ASX lithium shares rally as oil shock highlights EV appeal
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review

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.

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.

CSL announced later in November that its drug Hemgenix, the first and only one-time gene therapy for adults with haemophilia B, has been approved by the United States Food and Drug Administration (FDA). It is also being reviewed by the European Medicines Agency (EMA).

Experts bullish on CSL share price

After these updates were posted, CSL enjoyed positive coverage from experts.

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.

More reading

• How to build a Warren Buffett-inspired ASX share portfolio
• Down 38% this year, is it finally time to buy low on CSL, ResMed and Pro Medicus shares?
• How much would $10,000 become if CSL shares returned to their record high?
• 10 years to retirement? Here's how to build a solid income
• How I would build the ultimate beginner portfolio with $10,000

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.

The Telstra Group Ltd (ASX: TLS) share price made only a modest gain in November.

Shares of the telco giant opened for $3.90 each on 1 November and currently trade for $3.955 apiece, marking a 1.4% gain at the time of writing.

The S&P/ASX 200 Telecommunication Services Index (ASX: XTJ) performed slightly better over the same period, gaining 1.76%.

Broader still, the S&P/ASX 200 Index (ASX: XJO) more than tripled Telstra's gains in November, moving 6.1% higher at the time of writing.

So let's recap Telstra's events for the month to see if we can piece together the reason for its lukewarm performance.

What happened for Telstra in November?

Most recently, the Telstra share price received some positive coverage in a report released by a global asset manager. Telstra made it into Janus Henderson's 36th edition of its global dividend index, which noted the share's substantial dividend increase in the third quarter of this year.

My Fool colleague Monica noted that Telstra's dividend increased by 50% during the quarter to 7.5 cents per share, fully franked. That was up from 5 cents per share in FY2021.

During November, Telstra also received praise from various brokers and fund managers.

Perpetual Asset Management said that Telstra's defensive revenue attributes made it an "appealing proposition". Meantime, Morgans gave the share and add rating with a price target of $4.60. That was an upside of 16.16% at the time.

Morgans also noted its belief the market has not yet priced in Telstra's InfraCo assets and this could unlock further value for investors moving forward.

ACMA criticises Telstra's credit management processes

Despite the generally bullish sentiment that surrounded the Telstra share in November, some events transpired which could have dampened investor optimism.

The Australian Communications and Media Authority (ACMA) said Telstra must address its credit management processes or potentially face harsh penalties. As part of an ACMA investigation, Telstra admitted it mistakenly took action against some of its customers who were under payment arrangements due to financial hardship. This is a breach of ACMA's compliance standards.

While Telstra emerged from ACMA's investigation relatively unscathed, it was not so lucky with defending a court case against the Australian Competition and Consumer Commission (ACCC).

Telstra gets fined $15 million

The ACCC said that Telstra, along with TPG Telecom Ltd (ASX: TPG) and Optus, misled consumers about their fibre-to-the-node plans. It said the telcos did not have "adequate systems, processes and policies" to notify their customers if the advertised speeds of those plans could not be reached. This was something the telcos agreed to do.

Telstra was penalised $15 million for their infringements, while TPG was fined $5 million and Optus $13.5 million.

Finally, Telstra announced the churn of one of its key leaders on 14 November. Telstra's now former group executive for transformation, communications and people Alex Badenoch left the company after serving an "instrumental" role in Telstra's T22 strategy and navigating the COVID-19 pandemic.

The post Why did Telstra have a mediocre performance in November? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Why I think 'boring' ASX shares could make you richer over time
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review

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 positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Recent developments in the AGL Energy Limited (ASX: AGL) share price could be leading investors to wonder if the company deserves a spot in their portfolios.

The question arises amid a huge recovery in the company's share price, starting on 21 October. Shares opened for $6.62 on the day and currently trade for $7.95 apiece — a 20.1% gain.

AGL's shares walked largely in step with peers in the S&P/ASX 200 Utilities Index (ASX: XUJ) over the same period, with the index recording a stunning 27.8% increase.

So to see where AGL's shares might be headed in future, and to answer if they could be a buy at their current price levels, let's recap some recent company announcements as well as some expert analysis.

Cannon-Brookes gets four directors installed on AGL board

Kicking things off is the changes made to AGL's board of directors.

Billionaire AGL major shareholder Mike Cannon-Brookes was successful in getting his four board nominees installed. This was put into effect on 15 November at the company's AGM.

The new directors include Mark Twidell, Dr Kerry Schott, Christine Holman, and John Pollaers.

As a result, the company ratified a new strategic direction.

AGL unleashes rapid decarbonisation plans

AGL will have a much greater focus on using renewable energy moving forward. This includes shutting down its Loy Yang power station in FY35, 10 years earlier than previously forecast.

Among other measures, the company also aims to use five gigawatts of renewables by 2030 and 12 gigawatts of renewables by 2036.

Recent reporting in The Australian suggested the strategy shift comes amid claims AGL is lagging behind its key rival Origin Energy Ltd (ASX: ORG) in its decarbonisation efforts.

Those comments came from global fund manager Brookfield Asset Management.

What did Brookfield say?

A Brookfield spokesperson made the following comments.

AGL has a large fleet of coal-fired generation which obviously needs to transition at some point over time.

It has arguably — up until recently at least — been further behind in its own internal plans on when that transition would occur. Whereas Origin has been a bit more front foot with that and has a detailed strategic transition plan and has given notice on Eraring for retirement.

AGL has been pulling other levers in its business to help get its carbon emissions under control — as well as being part of a possible pivot to become a green energy supplier in the market.

Last week, AGL said it would close down its Torrens Island B power station in South Australia on 30 June 2026.

My colleague James notes that the plant's closure is not anticipated to affect AGL's earnings for FY23 and that it also has a feasibility study in the works to investigate the opening of a hydrogen plant on the island.

Analysts make bullish predictions for the AGL share price

Finally, in October, two brokers were in agreement that AGL shares could represent good value moving forward.

Morgans investment advisor Jabin Hallihan gave the share a buy recommendation with a price target of $8.81. That's a possible upside of 10.88% at the time of writing.

Hallihan praised the early closure of Loy Yang as well as AGL's "positive near-term earnings".

Meanwhile, Credit Suisse analysts gave a slightly more conservative price target of $8.20 a share for a 3.2% potential upside.

The post Are AGL shares a good investment right now? appeared first on The Motley Fool Australia.

More reading

• Guess which ASX 300 energy stock is surging today on big AGL news
• Buy, hold, sell: AGL, Origin Energy, and Woodside shares
• Why are AGL shares rising today?
• AGL Energy gives green light to $490m Kwinana gas project
• 3 ASX dividend shares yielding 5%+ that still have growth potential

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.

The BrainChip Holdings Ltd (ASX: BRN) share price kicked off the week deep in the red on Monday.

Shares in the artificial intelligence (AI) start-up were down 5.44%, swapping hands for 69.5 cents apiece at the close of trade.

Other ASX tech shares closed lower, too, including Life360 Inc (ASX: 360), which slid 1.91% today, and Block Inc CDI (ASX: SQ2), which lost 2.70% in afternoon trade.

At a broader level, the S&P/ASX 200 Index (ASX: XJO) was also not off to a great start to the week, down 0.42% at the close.

So why did BrainChip shares — and much of the broader market — have such a lousy day? Let's investigate.

What's going on with the BrainChip share price?

What might be surprising is the absence of announcements from BrainChip to support a dive in its share price this afternoon.

However, there appears to be a sense of trepidation in the United States' equities market that might be bleeding over into ASX tech shares.

The Nasdaq Composite Index (NASDAQ: .IXIC) has lost 0.27% since 18 November. The slip comes as the market holds its breath in anticipation of the Federal Reserve releasing a handful of economic reports later this week.

The reports will include the US personal consumption expenditures price index for October, and monthly employment figures for November, among others.

This week may see a watershed moment for equities

The release of these reports may help confirm some experts' feelings that the US economy is cooling down. It was reported earlier this month that the US consumer price index (CPI) beat analyst forecasts, rising just 0.4% from September, which should be a bullish signal by all accounts.

However, the situation is not black and white. Although inflation appears to be falling, a softer labour market and reduced personal consumption could indicate that the US is heading toward or is already in, a recession. This would likely lead to a steeper sell-off in the equities market in the near future.

The flip side is that if these reports show that the US economy is still overheated, it may prompt the Fed to continue with an anticipated fifth consecutive 0.75% rate hike. This would put further pressure on stocks and keep worsening the odds of it performing a soft landing of the economy.

BrainChip investors could therefore be waiting on the sidelines to witness the release of these reports, as well as see if the Fed will continue with its aggressive monetary policy or change to a more dovish tune.

BrainChip share price snapshot

The BrainChip share price is up 2.21% year to date. It has performed better than the broader market this year, with the ASX 200 down 2.89% over the same period.

The company's market capitalisation is around $1.2 billion.

The post Why did the BrainChip share price slide 5% on Monday? appeared first on The Motley Fool Australia.

More reading

• Why 4DMedical, Brainchip, Catapult, and Star Entertainment shares are falling today
• What's going on with BrainChip shares today?

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 Block, Inc. and Life360, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Allkem Ltd (ASX: AKE) share price has fallen precariously into the red today.

Shares in the lithium explorer are currently sliding 8.61% lower to trade at $13.17 apiece, after touching an intraday high of $14.48 near the open.

Putting weight on Allkem's share price is the fact that materials is today's worst-performing sector. The S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.09% at the time of writing.

Adding to this is that a good number of Allkem's ASX lithium share peers are also showing red this afternoon. Here's a snapshot of how they're doing as the market close draws near:

• Mineral Resources Limited (ASX: MIN) down 6.63%
• Core Lithium Ltd (ASX: CXO) down 5.65%
• Pilbara Minerals Ltd (ASX: PLS) down 7.1%

The broader market is also having a not-so-stellar session as the S&P/ASX 200 Index (ASX: XJO) is laying almost flat with a 0.19% gain for the day.

So why are lithium shares like Allkem performing poorly on Friday? Let's investigate.

What's going on with the Allkem share price?

Adding to the selling pressure on lithium shares like Allkem today is news that the lithium price may have hit a price ceiling, according to data from Trading Economics.

Prices for the commodity are creeping away from the recent high of CNY 600,000 per tonne on 11 November. It has since fallen 1.58% to CNY 590,500, effectively ending that lithium price rally.

The lithium commodity price has been on an enormous bull run year-to-date, gaining 113% during this period.

Supporting the price rise were subsidies for electric vehicles issued by the Chinese government, which were set to expire at the end of 2022. However, China Briefing reported in September that the government had exempted buyers of electric vehicles from paying vehicle purchase tax starting 1 January next year, lasting until 31 December.

Lithium commodity price could fall lower

These subsidies haven't stopped analysts at Goldman Sachs from giving the lithium commodity price a bearish outlook starting in 2023, however.

My Fool colleagues in the US noted last week that the bank believes the sale of electric vehicles is set to slow down next year, which could lead to an oversupply of lithium and thus put downward pressure on the commodity's price.

It was also noted that a cathode manufacturer in China was rumoured to have cut its production targets in anticipation of a slowdown in demand for its output.

So it appears the lithium commodity price is being hit from a couple of different angles, thus putting pressure on the share prices of lithium producers such as Allkem.

Allkem share price snapshot

The Allkem share price is up 26.8% year to date. That's beating the ASX 200 by a substantial margin, as the index is down 2.53% over the same period.

The company's market capitalisation is around $9.18 billion.

The post Why is the Allkem share price diving 8% today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• ASX lithium shares rally as oil shock highlights EV appeal
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review

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.

One fund manager believes ASX mining shares could see the demand for their output soar in the near future.

In a Livewire article, VanEck portfolio manager Cameron McCormack suggested China's projected reopening and its pivot away from harsh zero-COVID policies would be the main value drivers for Australian commodity exporters.

So let's peel back the layers of McCormack's thesis to uncover the three ways he expects this change in China to benefit ASX mining shares.

China's infrastructure spending is poised to return

It's anticipated that China will have a renewed focus on spurring economic growth after relaxing its strict measures to eliminate COVID-19.

This could be accomplished through a strong return to infrastructure spending in the country, McCormack said.

Framing this is that Chinese President Xi Jinping made comments in April that an "all-out" focus must be made to increase construction projects in the country, per Bloomberg.

McCormack notes that China made a similar play that kept its economy moving near the end of the global financial crisis in 2009.

A surge in Chinese infrastructure spending was also described as being the "saviour" of Australia's economy that stopped it from slipping into a recession during this time, with Australian commodity producers being the main beneficiaries due to soaring export prices.

China remains reliant on Australian mining resources

Despite a growing geopolitical rivalry between the countries, Australia and China remain tethered by trade due to a mutual reliance on each other's imports and exports.

McCormack notes that "19% of Australian mining revenue is attributed to China".

Iron ore comprises an overwhelming majority of that 19%, which will be vital to sustaining a renewed construction boom in China. Lloyd's List noted last year that "China accounts for more than 70% of global iron ore trade and two-thirds of its imports [of iron ore] currently come from Australia".

McCormack then used a graph provided by Factset showing that some ASX mining shares have far greater exposure to the Chinese market than others.

In order, Fortescue Metals Group Limited (ASX: FMG) sourced most of its revenues from China, with sales to the country making around an 87 per cent contribution to its top line. This was then followed by BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO).

Valuations of ASX mining shares improve

McCormack underlined his thesis by noting that Australian mining shares are trading at record lows, relative to their forward cash flow projections.

This may provide investors with an entry point to scoop them up while they're still cheap.

McCormack said:

The recent downturn in global markets and economic weakness in China has improved the valuation profile of Australian resources. Price to 12-month forward cash flow is at a historic low and iron ore prices have dropped to 2018 levels.

The post 3 reasons this fundie is still bullish on ASX mining shares appeared first on The Motley Fool Australia.

More reading

• If I invest $10,000 in BHP shares, how much passive income will I receive in 2027?
• This ASX copper stock could be cheap compared to BHP and Rio Tinto shares
• Can BHP shares smash through the $60 record barrier in April?
• ASX 200 shares with renewed buy ratings this week
• Why I'd buy these ASX 200 stocks if I were a beginner

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.

The Brainchip Holdings Ltd (ASX: BRN) share price defied the tech sector sell-off on Wednesday, closing 6.92% higher.

Shares in the ASX artificial intelligence (AI) company closed at 69.5 cents each, closing just shy of their intraday high of 70 cents apiece.

Technology was by far the ASX's worst-performing sector today. This was reflected in the S&P/ASX 200 Information Technology Index (ASX: XIJ) shrinking by 1.05%. To put the loss into the perspective, the next-ranked laggard was the S&P/ASX 200 Real Estate Index (ASX: XRE) which lost 0.34%.

All other sectors were in the green today while the S&P/ASX 200 Index (ASX: XJO) enjoyed a 0.7% boost.

So why did BrainChip's shares do so well while some of the company's tech peers struggled to keep their heads above water? Let's investigate.

What's going on with the BrainChip share price?

There's no news today from BrainChip to make sense of why its shares might have done so well on Wednesday.

However, the company's rally kicked off yesterday when its share price closed 4% higher from its open of 62 cents. It seems the momentum that was building then was fully unleashed today.

Also, one important development unfolded for the company last weekend that may have been reflected in the Brainchip share price on Monday.

BrainChip appoints chief marketing officer

BrainChip announced that it had appointed ex-Amazon hire Nandan Nayampally as its chief marketing officer. Nayampally was said to have a track record in developing intellectual property and helped encourage vendors to use the Alexa Voice assistant while at Amazon.

It seems investors apparently didn't think much of this announcement at the time as when the Fool reported the news, BrainChip shares were down more than 2% for the day.

Is Tech share investor sentiment returning?

However, things turned a corner on Tuesday. This could be, in part, due to improving sentiment in the US that the Fed has inflation problems under control.

Tech shares like BrainChip blasted off earlier this month when it was announced CPI data came in below forecasts, and the Nasdaq Composite (NASDAQ: .IXIC) had its best one-day gain since March 2020 after the news was announced.

The Nasdaq Composite also gained 1.04% in its most recent trading session too, so confidence could be returning to tech companies like BrainChip to help give certain shares a lift.

The post Why did the BrainChip share price leap 7% today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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.

The Renascor Resources Ltd (ASX: RNU) share price has been on a massive bull run this month and is showing no signs of slowing down.

Shares of the mineral explorer opened for 21.5 cents each on 1 November and closed for 31.5 cents apiece on Tuesday for a 46.5% gain. That includes a gain of 5% on Tuesday alone.

Renascor, which can be classified as an ASX energy share, is also beating the aggregate performance of its peers month to date by a substantial margin.

The S&P/ASX 200 Energy Index (ASX: XEJ) opened at 11,214 on 1 November and edged higher to close at 11,591 this afternoon, recording a 3.4% increase. That's nothing to complain about but also pales in comparison to the Renascor's extreme performance over the same timeframe.

So why has Renascor been on such a hot value climb in November? Let's take a look.

What happened?

Some important developments unfolded for Renascor this month and at the very end of October, which is just before its share price rally kicked off.

Most recently, Renascor managing director David Christensen gave a presentation at the International Mining and Resources Conference held in Sydney at the start of November.

There, Christensen gave an overview of Renascor's plans to produce purified spherical graphite (PSG) from its projects located within South Australia and noted that its sites hold the largest verified reserves of graphite in the world.

Strong demand forecasts for lithium-ion batteries and PSG were also presented, with the major tailwind being the world's transition to electric vehicles.

Renascor delivers a promising quarter

On 31 October, Renascor released its quarterly activities report. Some of the report's highlights included the company securing approval to construct its battery anode material (BAM) manufacturing plant north of Adelaide. The initial production capacity of the site is expected to be 28,000 tonnes per annum of PSG.

Additionally, upgrades were given for its Siviour graphite deposit by Snowden Optiro mining consultants. The experts said the site contained 17% more indicated resources and 14% measured and indicated resources than previously estimated.

And finally, Renascor announced that its annual general meeting would be held on 30 November in Adelaide.

Renascor Resources share price snapshot

The Renascor share price is up 110% year to date. That's a massive gain over the S&P/ASX 200 Index (ASX: XJO), which has lost 3.5% of its value over the same period.

The company's market capitalisation is around $657 million.

The post Why is the Renascor Resources share price rocketing 46% this month? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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.

Macquarie believes the South32 Ltd (ASX: S32) share price could have some tough times ahead of it.

The broker said that some shares it previously recommended, such as South32, are now at risk of underperforming in the face of substantial interest rate hikes made in the United States, The Australian reports.

South32's recent share price performance doesn't help its case either. The ASX mining share has lost more than 2% of its value year to date.

By comparison, the S&P/ASX 200 Materials Index (ASX: XMJ), which the company is a part of, has gained more than 1% over the same period.

So let's take a look at why the broker has changed its position on South32.

What did the broker say?

Amid Macquarie forecasting a recession in the United States next year, shares of the metals and mining company were dropped from the bank's model portfolio.

Model portfolios contain baskets of diversified shares that are recommended by brokers to clients. They are created to help clients reach their investment goals by generating an estimated rate of return from investing in them.

Macquarie Research commented on the change to its portfolios, per The Australian:

The portfolio changes we have made are done to reduce exposure to earnings risks, while still trying to minimise exposure to highly valued stocks. We also reduce exposure to stocks that benefit from higher bond yields and rotate to 'bond proxies'. Our changes are also informed by what worked in past recessions.

It should be noted that dropping South32 from its model portfolio does not constitute a sell recommendation.

However, judging by comments from Macquarie Research, it appears the bank believes the company could miss its earnings estimates or that its shares are otherwise overvalued by the market.

Macquarie is not the only broker that has expressed bearish sentiment about South32 in the recent past.

Last week Ord Minnet ASX broker Tony Paterno rated the company as a hold and said a slowdown in global growth, if it eventuates, could impact commodity prices. That could, in turn, affect South32's top and bottom lines.

Meanwhile, the company was downgraded by Goldman Sachs near the start of October. The bank also downgraded the share's price target to $3.70 each, leaving it with an estimated downside of almost 7% at the time of writing.

South32 share price snapshot

South32 shares are currently trading for $3.97 each, up 3% on the day. They are also up 11% over the past year.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is up 0.7% on Tuesday and down 2% over the past 12 months.

South32 has a market capitalisation of almost $18 billion.

The post What has this top broker got against South32 shares? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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 Goldman Sachs. 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.

The Mesoblast limited (ASX: MSB) share price took flight on Monday, soaring 9% to an intraday high of $1.02 before losing some ground in afternoon trading.

Shares in the ASX biotech company closed at 99 cents apiece today, up 6.45% from 93 cents at the market open.

The overall healthcare sector kicked off the week well, too, with the S&P/ASX 200 Health Care Index (ASX: XHJ) gaining 0.48%.

On a broader scale, the S&P/ASX 200 Index (ASX: XJO) petered out after a healthy start this morning to finish an unremarkable 0.17% lower.

Let's take a look at what may have influenced the Mesoblast share price on Monday.

What happened?

There's no news to report from Mesoblast today, and in fact, an absence of noteworthy announcements from the company for some time.

Our Fool writers last wrote about Mesoblast at the start of this month when we covered the company's quarterly activities and cashflow report.

However, there are a couple of reasons that could help explain why Mesoblast's shares have jumped higher. For one, the report noted that the company expected to receive FDA clearance to trial rexlemestrocel-L as a treatment for chronic back pain near the end of this year.

Rexlemestrocel-L and Remestemcel-L are the company's mesenchymal precursor cell (MPC) products that Mesoblast is developing to treat various diseases.

Another possible share price driver today is that its annual general meeting (AGM) is approaching fast. Mesoblast will hold its AGM on Wednesday this week in Melbourne.

Some measures shareholders will vote on include the election and re-election of company directors and ratifying the issue of fully paid ordinary shares to major shareholders.

Mesoblast share price snapshot

The Mesoblast share price is down 29.29% year to date and a hefty 42% over the past 12 months. In comparison, the S&P/ASX 200 Index is down a respective 5.9% and 2.9% across the same time periods.

The company's market capitalisation is around $729.7 million.

The post Why did the Mesoblast share price soar 9% today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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.

The Rio Tinto Limited (ASX: RIO) share price is struggling today, down 2.54% in afternoon trade.

Shares in the mining giant currently trade for $103.68 each.

By comparison, the S&P/ASX 200 Index (ASX: XJO) is having a much better start to the week at just a 0.27% loss for the day so far.

So why is Rio Tinto struggling to keep up with the ASX 200 on Monday? Let's take a look at what's happening.

What's going on with the Rio Tinto share price?

There's no news from Rio Tinto this morning to justify its shares slipping into the red. But some negative momentum could be carrying over from last week to put pressure on its valuation.

Last Friday Rio Tinto announced a snag in its deal to acquire Turquoise Hill Resources. This came in the form of ending its agreements with Turquoise Hill minority shareholders Pentwater Capital Management and SailingStone Capital Partners.

The agreements were terminated due to concerns raised by the shareholders over dissent and dispute resolution provisions found in their contracts.

These shareholders previously said they would use their dissent rights and withhold their votes to more easily allow Rio Tinto to acquire a 49% stake in Turquoise Hill's business. Without their support, it may make it more difficult for the company to smoothly proceed with its acquisition, along with putting some negative sentiment on its share price.

The materials sector is struggling

The underperformance of the materials sector could also be helping to drag the Rio Tinto share behind the broader market in today's trading session.

This is reflected in the S&P/ASX 200 Materials Index (ASX: XMJ) being down 1.65%. That puts it down the bottom with the worst-performing sector indices since market open today.

Some other notable ASX materials shares taking a beating include Fortescue Metals Group Limited (ASX: FMG), which is down 3.8%. Meanwhile, BHP Group Ltd (ASX: BHP) is slipping 2.2% this afternoon.

Thus Rio Tinto could be falling behind the ASX 200 due to macro as well as company-specific factors on Monday.

Rio Tinto share price snapshot

The Rio Tinto share price is up 3.57% year to date. While the S&P/ASX 200 Index is doing far worse at a 4.2% loss for the same period.

The company's market capitalisation is around $39.4 billion.

The post Why is the Rio Tinto share price trailing the ASX 200 on Monday? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• If I invest $10,000 in BHP shares, how much passive income will I receive in 2027?
• What assets can I own in retirement and still qualify for the Age Pension?
• This ASX copper stock could be cheap compared to BHP and Rio Tinto shares
• 6 ASX 200 shares downgraded by the experts this week

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.

The All Ordinaries Index (ASX: XAO) made a modest gain on Friday, closing 0.21% higher at 7,354.7 points.

Most of the sector indices finished in the green today, although the S&P/ASX 200 Energy Index (ASX: XEJ) was the worst performer, closing 0.39% lower.

The top indices were the S&P/ASX 200 Telecommunication Services Index (ASX: XTJ), which gained 0.81%, and the S&P/ASX 200 Industrials Index (ASX: XNJ), closing 88% higher.

Let's discover which ASX All Ords thrashed these mediocre results by the market on Friday.

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price closed 13.58% higher to 46 cents apiece.

There's no fresh news to explain why Arafura's share price rallied strongly today.

However, its shares have been on a bull run since Wednesday, when they gained 17.14% in a single trading session. The momentum from this massive green candle may have carried over into the price action today.

Arafura's rally this week follows the mineral explorer's announcement on Tuesday that it had received approval for its mining management plan to get its Nolans project off the ground in the Northern Territory.

The agreement authorises Arafura to legally operate its Nolans project with the end goal of producing rare earth elements (REE) neodymium and praseodymium (NdPr).

Audio Pixels Holdings Ltd (ASX: AKP)

The Audio Pixels share price also had a great run, surging 9.65% to close at $12.50 on Friday.

Like Arafura, Audio Pixels also had no announcements to report on today.

In fact, its most recent update came on 28 October when it posted its quarterly activities and cash flow report.

The digital speaker developer advised it used $1.23 million in operating activities for the reported period and $3.69 million over the last nine months.

Taking into account its cash balance and cash burn rate, Audio Pixels has an estimated 1.6 quarters of funding available.

One highlight of Audio Pixel's operations is that it's working towards making its product suitable for mass production.

BCI Minerals Ltd (ASX: BCI)

And finally, the BCI Minerals share price rocketed on Friday. It gained a hefty 10.6% to 26 cents per share.

Again, like the other shares on this list, the company had no news to report today, despite its share price surging into the green.

BCI Mineral's most recent announcement was posted on 28 October in the form of its September 2022 quarterly report.

The company reported its Iron Valley mine contributed $3.5 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA) during the reported period.

It also finished the quarter with a strong balance sheet. BCI Minerals said it has no debt on its books but has $188 million in cash.

This balance sheet, alongside $100 million in convertible notes, will mean BCI Minerals will not need to take on additional debt to fund its construction projects for its Iron Valley mine.

The post 3 ASX All Ords shares that had a cracking run on Friday appeared first on The Motley Fool Australia.

More reading

• Why Arafura Rare Earths, Eagers Automotive, Life360, and Pro Medicus shares are racing higher today
• Which ASX rare earths company's shares are trading higher on new funding news?

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.

The Santos Ltd (ASX: STO) share price closed 0.94% lower at $7.36 on Thursday.

The energy sector as a whole was the heaviest weight on the S&P/ASX 200 Index (ASX: XJO) today. The S&P/ASX 200 Energy Index (ASX: XEJ) fell 2.06%, while the ASX 200 gained 0.19%

Let's take a look at what else might be affecting the ASX energy share.

What's going on with the Santos share price?

It's been a tough week for the Santos share price, which has now finished in the red in five of the last six sessions.

On Wednesday, the oil and gas giant's legal appeal to restart drilling operations at its Barossa gas project was concluded in the Federal Court.

The $4.7 billion project in the Timor Sea will remain on hold until a ruling has been made.

In September, the project was ruled invalid after the court decided the Munupi clan of the Tiwi Islands should have been consulted before drilling began at the Northern Territory project.

Santos appealed the decision, claiming the clan did not legally count as "relevant persons" and that it was unreasonable to expect the company to consult with "each and every" individual clan member.

On Wednesday, Federal Court Justice Debra Mortimer questioned the claim by Santos's lawyers that it was "unworkable" to consult with the clan.

Mortimer said:

The only category which is said to be unworkable are Aboriginal and Torres Strait Islander people who have interests in this area. It's not said to be unworkable to contact a department. It's not said to be unworkable to consult an organisation. It's not said to be unworkable to consult a fisheries body [which] has hundreds of members. It's only said to be unworkable to consult with Aboriginal and Torres Strait Islander people.

A date for the judgment is yet to be set.

EU to propose natural gas price cap

Some more potentially bad news for Santos came this week amid the EU proposing a price cap on natural gas, reports Reuters.

A cap will be proposed after a meeting of EU energy ministers on 24 November, with a goal of putting a lid on the European energy crisis.

EU energy commissioner Kadri Simson said this could help stabilise the problem in Europe, stating:

We will move swiftly and we will make a legal proposal immediately after ministers will mandate us to do so. We have done our homework. I think that this kind of price cap can allow us to calm the market. It also removes the risk that we will not receive cargos at all.

The price level of the cap is undisclosed at this stage, and it's unknown how it will affect Santos's earnings in European markets moving forward.

However, in March, the company suggested it was interested in exporting more Australian LNG to the continent, 7 News reported. That could help wean Europe off its dependence on Russian oil and gas as the war in Ukraine rages on.

The comments were made at a federal inquiry into taxpayer subsidies for Beetaloo Basin gas exploration in the Northern Territory.

Santos share price snapshot

The Santos share price is up almost 17% year to date. The ASX 200 is down 4% over the same period.

The company's market capitalisation is around $24.73 billion.

The post What dragged on the Santos share price today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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.

The Flight Centre Travel Group Ltd (ASX: FLT) share price gained 1.49% on Thursday, closing at $16.38.

The ASX travel share comfortably outperformed the S&P/ASX 200 Index (ASX: XJO), which finished 0.19% higher.

It also narrowly beat the performance of its 'home' sector, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) rising 1.26%.

Flight Centre's shares lifted higher despite there being no news from the company today.

However, one of its travel peers reported some positive steps toward a full recovery this morning. Let's cover the highlights.

What happened with Flight Centre today?

The Flight Centre share price lifted along with those of fellow ASX travel share Webjet Limited (ASX: WEB), which reported its half-year results for FY23 this morning.

The results appear to have impressed investors, with the Webjet share price ending the day 10.14% higher at $6.19.

The online travel agent noted that some aspects of its business are trading ahead of pre-COVID levels as pent-up demand continues to be released.

Revenue increased 217% year over year to $175.7 million. Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 557% to $72.5 million.

Webjet's WebBed business led the charge in turning the company around after it posted a $15.9 million loss for 1H22.

WebBeds contributed $1.42 billion in total transaction value (TTV) and $114.4 million in revenue to the company's top and bottom lines.

Webjet's managing director John Guscic described its performance as a "spectacular turnaround", and said it's expected the company will exceed pre-pandemic profitability for FY23.

Flight Centre share price snapshot

Webjet's results could come as welcome news to the Flight Centre share price, which took a beating amid the company releasing its trading update on 14 November.

Flight Centre's revenue growth for the first four months of FY23 apparently came in lower than expected, as its shares dropped 4% on the day.

The Flight Centre share price is now down 7% since the start of the year. The ASX 200 is down 4% over the same period.

The company's market capitalisation is around $3.22 billion.

The post Why did the Flight Centre share price trounce the ASX 200 today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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 recommended Flight Centre Travel Group Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Morgan Stanley has warned that the recent rally in ASX 200 shares could soon come to an end.

The broker believes a stop to the rally could come in the form of rising interest rates and a pullback in consumer spending, thus reducing corporate earnings, the Australian Financial Review reported.

The S&P/ASX 200 Index (ASX: XJO) has lifted 10.4% since 3 October to the present day. It's currently up 0.32% in today's trading session.

Let's cover how Morgan Stanley expects rising interest rates to affect ASX 200 shares moving forward.

What did Morgan Stanley say?

Morgan Stanley's head of Australian strategy Chris Nichol said we may not have felt the full effects of rising interest rates, which will put pressure on companies' bottom lines.

He said:

Investors should brace for impact from the lagged effects of an aggressive tightening cycle. The next six months will see fuller effects from an aggressive monetary hiking cycle impacting domestic focused earnings.

Nichol also believes consumers could be underestimating the effect that rising interest rates might have on the economy, which could be leading to a sense of overconfidence in their spending habits.

[Consumers] are not fully calibrating the true extent of the adjustment in disposable income and asset wealth ahead whilst also potentially underappreciating the job required of policymakers to achieve their goals.

The net result of rising interest rates is that housing prices could fall by as much as 20%, Nichol said. This, in turn, may finally force consumers to spend less on discretionary items, thus kicking off a recessionary cycle in the economy.

However, another expert believes ASX 200 shares could have reached their bottom and are poised to rally again.

Have ASX 200 shares bottomed out?

AMP economist Dr Shane Oliver thinks there have been some "fundamental improvements" in the backdrop of ASX 200 shares that occurred during October.

He said the main reason is that inflation appears to have peaked in the United States, dropping from a high of 9.1% in June to 7.7% year-on-year in October.

Oliver notes that with inflation easing, future interest rate hikes by the Fed are likely to be less severe, thus reducing the chance they will put the economy into a recessionary tailspin.

US equities could also be benefiting from a couple of tailwinds in the short-term, Oliver said, including US midterm elections and the fact ASX 200 shares have entered into a bullish part of the year. These cyclical factors could also be giving them a lift.

Oliver also suggested China could look to focus on growing its economy and lift COVID-zero restrictions by the middle of next year.

Summarising his position, Oliver said the following on the longer-term outlook for ASX shares:

We remain optimistic about shares on a 12-month horizon as investors will start to focus on monetary easing from late next year and then economic recovery.

The post Why ASX 200 'investors should brace for impact': Morgan Stanley appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• What assets can I own in retirement and still qualify for the Age Pension?
• 6 ASX 200 shares downgraded by the experts this week
• Insurance Australia Group's RAC Insurance deal faces ACCC Phase 2 review
• Paladin Energy hikes FY2026 outlook after Langer Heinrich ramp-up

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.

The prices of three ASX mining shares were on ice today.

The S&P/ASX 200 Materials Index (ASX: XMJ) is one of only three sector indices in the green, finishing 0.86% higher today. Only the S&P ASX 200 Energy Index (ASX: XEJ) closed higher, with a gain of 1.18%.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) closed today down a modest 0.27%.

Let's cover which mining shares were in the freezer on Wednesday.

OZ Minerals Limited (ASX: OZL)

The Oz Minerals share price was halted this morning pending a potential takeover bid.

The Fool reported that Oz Minerals could be an acquisition target by BHP Group Ltd (ASX: BHP).

As my colleague James notes, Oz Minerals rejected a previous bid by BHP in August for $25 per share.

It's now rumoured that BHP has returned to the table with a higher offer.

Shares of the company will remain on ice until 18 November or when the announcement is made, whichever comes sooner.

WA1 Resources Ltd (ASX: WA1)

WA1 Resources extended its trading halt this morning, after requesting a pause on the trading of its shares on Monday.

The resources exploration company has asked for more time to prepare two significant announcements for the market.

First, it wants to release exploration results for one of its sites in Western Australia. Once these results are posted, the company will make an announcement regarding a capital raise.

WA1 Resources expects to make this announcement and for the trading halt to lift next Monday 21 November.

Element 25 Ltd (ASX: E25)

Meanwhile, manganese miner Element 25's shares have been frozen since Tuesday.

The mineral explorer wants to raise money to pay for its new project and to improve its existing operations. It has requested a trading halt in preparation to announce its plans to the public.

Funds will go towards its high-purity manganese Butcherbird in the southern Pilbara region of Western Australia and for other capital expenditure purposes.

The halt will last until 17 November or when Element 25 makes its capital raise announcement.

The post 3 ASX mining shares on ice today pending big news appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares rocket 13% as long-awaited sector rebound accelerates
• If I invest $10,000 in BHP shares, how much passive income will I receive in 2027?
• What assets can I own in retirement and still qualify for the Age Pension?
• This ASX copper stock could be cheap compared to BHP and Rio Tinto shares
• 6 ASX 200 shares downgraded by the experts this week

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.

Three ASX mining shares defied the sell-off in the materials sector on Tuesday.

The S&P/ASX 200 Materials Index (ASX: XMJ) was today's second-worst-performing sector index, losing 1.01% by market close. ASX 200 lithium shares were hit particularly hard, with the Core Lithium Ltd (ASX: CXO) share price dumping a massive 15.82% by the day's end.

But back to our big-moving little miners, which also outperformed the broader market by a large margin. The S&P/ASX 200 Index (ASX: XJO) didn't move much at all today, finishing the session with a 0.07% loss.

Let's uncover why these mining shares were off to the races on Monday.

Victory Goldfields Ltd (ASX: 1VG)

The Victory Goldfields share price finished Tuesday's trade up by a sizeable 30.56%.

Earlier in the session, shares of the gold junior exploded over 70% after the company posted news regarding a new discovery of not gold, but rare earths (REE).

Victory Goldfields revealed the drilling results from its North Stanmore REE project located in Western Australia, which included high-grade heavy rare earth oxide (HREO) yields.

The discovery was described as being 'significant' as it's up to 350% more valuable than previously reported deposits.

Victory Goldfields executive director Brendan Clark commented that the discovered grades and ratios "potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our high basket price."

Lycaon Resources Ltd (ASX: LYN)

The Lycaon Resources share price also gained an impressive 32.26% on Tuesday.

The mineral explorer announced this morning it had entered into a binding heads of agreement to acquire the Stansmore Carbonatite Project located northwest of Alice Springs.

Elements explored at the site are niobium and rare earths.

The company's technical director, Thomas Langley, described the news as "an exciting opportunity for Lycaon".

Lycaon Resources is a microcap ASX mining share with a market cap of just $14.5 million.

BBX Minerals Ltd (ASX: BBX)

Finally, BBX Minerals ended Tuesday's trade up by 23.68%.

There was no news from the company today, but shares could be surging higher on the euphoria of yesterday's announcement.

The mineral explorer reported that recent bioleaching test work had delivered impressive results. BBX Minerals reported that there was a "significant increase in reported precious metals following [the] bioleaching process".

Further studies are underway that will include assay results using a larger sample size.

The technology will reportedly help with "metal extraction from low-grade ores and mineral concentrates".

The post 3 ASX mining shares that surged over 20% Tuesday appeared first on The Motley Fool Australia.

More reading

• Vanguard ETF dividends to be paid today
• 3 ASX dividend shares raising dividends like clockwork
• 3 ASX 200 blue chip shares to buy with $20,000
• I'd buy this ASX dividend stock in any market
• $10,000 invested in Zip shares one month ago is now worth…

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.