Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Adbri Ltd (ASX: ABC)

The Adbri share price is up 32% to $3.00. This morning, this building materials company revealed that it has received a non-binding takeover proposal from CRH and its largest shareholder, the Barro Group. A $3.20 cash per share offer has been tabled by the parties. Adbri has granted exclusive due diligence access until the end of February.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is up 30% to $2.21. This has also been driven by takeover news. Link has entered into a scheme implementation deed with Mitsubishi UFJ for a deal that will see it taken over for $2.26 cash per share. This represents a 32.9% premium to where the Link Group share price ended last week and values its equity at $1.2 billion.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren share price is up 22% to $20.98. Investors have been buying the company's shares after it released top-line results from its Phase 2 clinical trial of NNZ-2591 in children with Phelan-McDermid syndrome (PMS). According to the release, a significant improvement was observed by both clinicians and caregivers from treatment, across multiple efficacy measures. There are currently no approved treatments for PMS.

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price is up 22% to 89.5 cents. This has been driven by news that the gambling company has been awarded the new Victorian Wagering and Betting Licence by the Victorian Government. Management estimates that this licence would have boosted FY 2023's EBITDA by $140 million if it had been in place for that period.

The post Why Adbri, Link, Neuren, and Tabcorp shares are racing higher today appeared first on The Motley Fool Australia.

In morning trade, the ASX 300 stock is up 34% to $3.04.

Why is this ASX 300 stock rocketing?

Investors have been scrambling to buy the building materials company's shares today after it received a non-binding indicative proposal from CRH and its largest shareholder, the Barro Group.

According to the release, the parties have put forward a $3.20 cash per share proposal, which represents a 41% premium to where the ASX 300 share last traded.

While it has stopped a touch short of accepting the offer, which is best and final, Adbri has advised that it has entered into a process and exclusivity deed with CRH and the Barro Group in order to progress a potential transaction.

It notes that, subject to the agreement of a binding scheme implementation agreement on terms acceptable to the parties, the intention of the ASX 300 share's Independent Board Committee (IBC) is to unanimously recommend the proposal.

This is in the absence of a superior proposal and subject to an independent expert concluding that the scheme of arrangement is fair and reasonable and in the best interests of Adbri shareholders.

CRH and the Barro Group have been granted exclusive due diligence access until 28 February 2024.

For now, Adbri advised that shareholders do not need to take any action. It also warned that there is no certainty that the proposal will lead to a binding proposal for consideration.

The company will continue to keep shareholders updated in accordance with its continuous disclosure obligations.

Following today's gain, this ASX 300 stock is now up over 80% since this time last year.

The post Guess which ASX 300 stock is rocketing 34% after receiving a takeover offer appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:

Adbri Ltd (ASX: ABC)

The Adbri share price is up 7% to $2.24. This morning, this building materials company released a trading update and revealed that its 2023 underlying EBITDA is expected to be within the range of $310 million to $315 million. This moderately exceeds the outlook provided at its half-year results in August.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 4% to $1.55. Investors have been buying this energy producer's shares after oil prices charged higher overnight. A weaker US dollar and an improved 2024 demand outlook boosted prices. The S&P/ASX 200 Energy index is up 2% this afternoon.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 15% to 30.5 cents. This appears to have been driven by a jump in Chinese lithium futures following the completion of COP28. Short sellers may also be buying shares in a hurry to close their positions, adding to the buy side of the equation.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is up 9% to $1.72. This morning, this administration services company advised that longstanding client AustralianSuper has entered into a memorandum of understanding to negotiate an extension to their partnership until at least 2028.

The post Why Adbri, Beach Energy, Core Lithium, and Link shares are charging higher today appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market looks set to end the week on a mildly positive note despite a subdued session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning. In late trade on the United States, the Dow Jones is flat, the S&P 500 is down 0.1%, and the NASDAQ is down 0.1%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$82.43 a barrel and the Brent crude oil price is down 1.85% to US$84.23 a barrel. Demand concerns are weighing on oil prices.

Sell Adbri shares

Adbri Ltd (ASX: ABC) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has downgraded the building materials company's shares to a sell rating with a $1.85 price target. It said: "We sit -4%/-6% behind Visible Alpha consensus EBIT in FY24/25 with a more gradual margin improvement (despite sitting 1%/-1% vs consensus revenues in FY24/25)."

Gold price edges lower

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$1,834.1 an ounce. Higher for longer interest expectations mean gold is on course for its ninth consecutive decline.

Dividends being paid

A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments today. This includes waste management company Cleanaway Waste Management Ltd (ASX: CWY), gold miner Evolution Mining Ltd (ASX: EVN), telco Spark New Zealand Ltd (ASX: SPK), and software company WiseTech Global Ltd (ASX: WTC).

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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

Adbri Ltd (ASX: ABC)

The Adbri share price is down a further 7% to $2.18. Investors have been selling this building materials company's shares since the release of its half-year results. While those results were solid, its guidance for the second half implies earnings before interest and tax below consensus estimates. This morning, Macquarie downgraded its shares to an underperform rating with a reduced price target of $2.00.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 23% to $3.87. This follows the release of the mineral exploration company's scoping study for the Gonneville Nickel-Copper-PGE Project. That study outlines an executable, tier-1 scale development project in a world-class jurisdiction. However, management's timeline shows that it doesn't expect to commence production until 2029.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down over 2% to $21.60. This morning, Flight Centre released its FY 2023 results and revealed a 127% increase in revenue to $2,281 million and underlying EBITDA of $302 million. The latter was up $485 million from an EBITDA loss of $183 million a year ago. While this was strong, it wasn't a surprise given last month's trading update. And with no guidance given, there wasn't anything to drive its shares higher.

Kelsian Group Ltd (ASX: KLS)

The Kelsian share price is down 4.5% to $6.33. Investors have been selling the travel and transport company's shares following the release of its FY 2023 results. Kelsian, formerly known as Sealink, posted a 9.3% increase in revenue to $1,417.8 million but a 60% decline in net profit after tax to $21 million.

The post Why Adbri, Chalice Mining, Flight Centre, and Kelsian shares are dropping today appeared first on The Motley Fool Australia.

The Adbri share price fell 15% to an intraday low of $2.33 before recovering slightly this afternoon.

The ASX All Ordinaries share is currently trading for $2.37, down 13.7%.

Meantime, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.44% at the time of writing.

The construction materials and lime producer reported a decent increase in revenue and profit during 1H FY23.

So, it's likely investors are disappointed that it has once again decided not to pay a dividend.

Let's review the numbers.

ASX All Ordinaries share dumps dividend for a 2nd time

Adbri didn't pay a final dividend for 2H FY22, and now it won't pay an interim dividend for 1H FY23.

The company says it needs the extra funds to cover materially higher-than-expected costs for the Kwinana Upgrade project, and it also wants extra cash flow in light of its "elevated" leveraging of 2.3 times.

Here are the highlights of the report:

• Revenue of $926.4 million, up 14% on the prior corresponding period (pcp) of 1H FY22
• Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $149.1 million, up 20.9% pcp
• Statutory EBITDA of $145.8 million, up 15.6% pcp
• Underlying net profit after tax (NPAT) of $52.1 million, up 12.8% pcp
• Statutory NPAT attributable to members of $49.8 million, up 3.5% pcp
• Capital expenditure $173 million, up 50% pcp
• No interim dividend

What else happened in FY23?

The abrupt departure of former CEO and managing director Nick Miller surprised the market in October.

In an announcement, the company said Mark Irwin would be taking over as interim CEO the very next day.

The company said:

The Board has determined that it is an appropriate time for a change in leadership and the Board thanked Mr Miller for his service, particularly during the challenges of Covid-19.

Investors smashed the ASX All Ordinaries share on the news, and it dropped 22% in one trading day.

CFO Theresa Mlikota resigned less than a month later.

In February, Adbri announced that Irwin would become the permanent new CEO.

What did Adbri management say?

CEO Mark Irwin said:

Adbri has delivered a strong first half performance. We have refocused the business, delivering double digit revenue growth and improved earnings.

Our refocus has seen the implementation of key initiatives which support a more resilient Adbri with strong cost and operational management disciplines.

What's next for this ASX All Ordinaries share?

Adbri said its priorities for the half ahead include further works on the Kwinana Upgrade project, which has a target commissioning date of 2Q FY24.

The company is also focused on reviewing lime operations, completing negotiations for a supply agreement with Independent Cement & Lime (ICL), and further improvements at its Birkenhead cement operations.

The company is expecting a similar trading environment in 2H FY23 compared to 1H FY23.

Adbri's capital expenditure bill was 50% higher than the pcp at $173 million. The company said it expects its full-year capital expenditure to reach between $330 million and $350 million.

Adbri share price snapshot

This ASX All Ordinaries share is up 2.9% over the past 12 months and up 3.9% in the year to date.

The post Guess which ASX All Ordinaries stock is diving 15% after axing its dividend appeared first on The Motley Fool Australia.

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

Adbri Ltd (ASX: ABC)

The Adbri share price is down almost 15% to $2.34. This follows the release of the building materials company's half-year results. Adbri reported a 14% increase in revenue to $926.4 million and a 12.8% lift in underlying net profit after tax to $52.1 million. While this was positive, its guidance for the second half implies earnings before interest and tax below consensus estimates.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down a further 5% to a multi-year low of 27.5 cents. Investors have been hitting the sell button this week after the semiconductor company posted half-year revenue of just US$115,606. One thing that was growing was its losses, which doubled to US$17.15 million for the six months. Despite recent weakness, the meme stock still has a sky-high market capitalisation of approximately $500 million.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down almost 7% to $1.25. This morning, analysts at Citi responded to the administration services company's FY 2023 results by retaining their neutral rating and cutting their price target to $1.40.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down 11% to $4.07. This may have been driven by news that First Sentier Investors has been shorting the semiconductor company. Like Brainchip, Weebit Nano has been described as a meme stock due to its sizeable valuation and lack of revenue. This makes them easy targets for short sellers.

The post Why Adbri, Brainchip, Link, and Weebit Nano shares are dropping today appeared first on The Motley Fool Australia.

Past performance is not necessarily a reliable indicator of future performance, particularly when it comes to cyclical businesses or industries. Businesses that are demonstrating good operational growth year after year may be able to achieve ongoing good returns for shareholders as long as the valuation doesn't become too stretched.

Let's have a look at some of those performers and what could happen next.

Adbri Ltd (ASX: ABC)

The Adbri share price jumped 36% in May, as we can see on the chart below.

In the construction material ASX 200 share's annual general meeting (AGM), it said that it's seeing strong demand for Adbri's products across key segments. Management noted that as a result of the combination of "market forces and management initiatives", underlying net profit after tax (NPAT) for the period ending April 2023 is "significantly above January 2022 to April 2022".

It said that demand from the mining sector for cement and lime "continues to be strong and is anticipated to remain strong" for the rest of the year. Commercial and infrastructure sectors continue to see strong demand. In the short-term, residential works underpin good order books, though the outlook for the residential sector remains "somewhat patchy".

It was good to hear that the business is doing well, but the outlook for construction seems uncertain over the next year or two. I think the May rise could be a one-off re-rating because the market was underestimating how the business is performing.

I don't think the share price is going to get back to $3 over the next 12 months.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price climbed 17% last month, which we can see on the chart below.

Lynas seemed to benefit from the Malaysian government granting the business permission to keep importing and processing at its Malaysian facility until 2024.

There was uncertainty hanging over the business, but that has now lifted. The ASX 200 share is still a lot lower than it was earlier this year, but any future sizeable gains could be dependent on improvements in the commodity prices for Lynas.

I don't know which way resource prices are headed in the shorter term, so I wouldn't make the bet on what's going to happen next.

Xero Limited (ASX: XRO)

The Xero share price went up 18% in May, as demonstrated on the chart below.

Xero released its FY23 result which demonstrated a lot of growth, including 14% subscriber growth, 28% operating revenue growth and $100 million growth in free cash flow.

I think this ASX 200 share will continue growing its subscriber base, the average revenue per user (ARPU) and profitability, particularly because the business is looking to reduce its operating expense to operating revenue ratio.

As the company demonstrates its profitability, I believe the Xero share price can continue to climb unless there's a widespread market decline.   

Megaport Ltd (ASX: MP1)

The Megaport share price went up by 21% in May, as we can see on the chart below.

The ASX 200 share has continued its good run following its strong profit update at the end of April 2023 as investors take stock of how it's performing.

Revenue continues to grow at the business, and profitability is better than expected. In FY24, it could make normalised earnings before interest, tax, depreciation and amortisation (EBITDA) of between $41 million to $46 million, up from $16 million to $18 million in FY23.

I think the company could continue to impress the market with its improving financials, so I think it will keep rising over the medium term, but it could face some volatility in the short term.

The post Is it too late to buy May's best-performing ASX 200 shares? appeared first on The Motley Fool Australia.

The good news is that not all ASX 200 shares fell with the market. In fact, some even managed to record strong gains. Here's why these were the best performing ASX 200 shares in May:

Adbri Ltd (ASX: ABC)

The Adbri share price was the best performer on the ASX 200 index last month by some distance with a gain of 36%. Investors were scrambling to buy the building materials company's shares following its annual general meeting update. Management advised that "underlying Net Profit After Tax for the period ending April 2023 is significantly above January to April 2022."

Megaport Ltd (ASX: MP1)

The Megaport share price was on form and charged 21% higher in May. This network services company's shares have been on fire since the release of a surprisingly positive quarterly update on the final trading day of April. This appears to indicate that Megaport is now over the worst of its issues, much to the dismay of the short sellers that were targeting it. A rebounding tech sector also gave its shares a boost.

Xero Limited (ASX: XRO)

The Xero share price wasn't far behind with an 18% gain last month. This was driven by the release of the cloud accounting platform provider's full-year results. For the 12 months ended 31 March, Xero posted a 28% increase in operating revenue to NZ$1.4 billion, a 26% lift in annualised monthly recurring revenue to NZ$1.55 billion, and a 45% jump in adjusted EBITDA to NZ$301.7 million.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was a strong performer and recorded a gain of 17% over the period. Investors were buying this rare earths producer's shares after it announced that the Malaysian government has granted permission to keep importing and processing lanthanide concentrate at its Malaysian facility until 2024. Lynas revealed that it is now looking at taking further action with the aim of overturning the ban completely.

The post These were the best-performing ASX 200 shares in May appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that stop them from rising today are listed below. Here's why they are pushing higher:

Adbri Ltd (ASX: ABC)

The Adbri share price is up 12% to $1.80. This follows the release of a trading update at the building materials company's annual general meeting. Management advised that "underlying Net Profit After Tax for the period ending April 2023 is significantly above January to April 2022."

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is up 5% to $2.50. This also follows the release of a trading update at the horticulture company's annual general meeting. Management advised that "the 2023 International segment harvest is shaping up to be an exceptional year with very strong profit results emerging from both our China and Morocco operations."

Delta Lithium Ltd (ASX: DLI)

The Delta Lithium share price is up 2.5% to 67 cents. As mentioned here earlier this week, this lithium developer is rumoured to be a potential takeover target. In addition, despite rising strongly recently, Bell Potter still sees plenty of upside in its shares. It currently has a speculative buy rating and $1.05 price target on the ASX lithium share.

Immutep Ltd (ASX: IMM)

The Immutep share price is up 5.5% to 38 cents. This morning, this clinical-stage biotechnology company announced that the first patient has been enrolled and safely dosed at a European clinical site for its integrated Phase II/III AIPAC-003 trial in metastatic breast cancer.

The post Why Adbri, Costa, Delta Lithium, and Immutep shares are racing higher appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Adbri Ltd (ASX: ABC)

The Adbri share price is down 6.5% to $1.53. This follows the release of an update on the Kwinana upgrade. Adbri revealed that the cost of its construction could now be more than double previous estimates. Management estimates that its cost will be $385 million to $420 million, which is up from the original estimate of approximately $200 million.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price is down 2.5% to $6.34. Investors have been selling this iron ore miner's shares following the release of its quarterly update. That's despite Champion Iron reporting record quarterly production of 3.1M wmt and annual production of 11.2M wmt. The latter represents a 41% increase year-on-year.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 4.5% to 95 cents. This morning, analysts at Goldman Sachs responded to the lithium miner's quarterly update by reiterating their sell rating on the company's shares with an 80 cents price target. The broker continues to believe that its shares are overvalued compared to peers.

Syrah Resources Ltd (ASX: SYR)

The Syrah Resources share price is down 10% to $1.27. This morning, Syrah released its quarterly update and also announced a $150 million capital raising. The latter is through the issue of new convertible notes to AustralianSuper.

The post Why Adbri, Champion Iron, Core Lithium, and Syrah shares are dropping today appeared first on The Motley Fool Australia.

Among the ASX 200 materials shares are several large companies providing building materials like timber, cement, fencing, and bricks.

Some of the big names are James Hardie Industries plc (ASX: JHX), Boral Limited (ASX: BLD), Brickworks Limited (ASX: BKW), and CSR Limited (ASX: CSR).

And boy, have they taken a hammering (get it?) over the past 18 months.

What's going on with ASX 200 materials shares?

Here's how the share prices of these ASX building companies have performed over the past 18 months:

• The Boral share price is down 39%
• The James Hardie share price is down 32%
• The CSR share price is down 7%
• The Brickworks share price is down 3%.

Worst of the bunch is cement manufacturer Adbri Ltd (ASX: ABC). Its shares fell by a staggering 48%. The company lost its place in the ASX 200 materials shares index in the most recent re-balancing.

The building sector has had numerous challenges over this period. These included disrupted global supply chains, which caused a shortage of imported building materials and raised their prices.

Many builders have also had trouble hiring and retaining tradies amid historically low unemployment.

Several building companies have collapsed. Many had too many fixed-price contracts signed before 2022, when inflation began rising, and supplies and labour became more costly.

All of this contributed to delays in building activity.

Bureau of Statistics data released this week shows there was a 15% decline in new home builds, and a 34% decline in apartment builds in the December 2022 quarter compared to the December 2021 quarter.

Why is building activity slowing down?

Master Builders Australia chief economist Shane Garrett said a large number of new homes were under construction (almost 240,000), but there were fewer new projects in the pipeline.

Garrett said:

Higher-density home building has sunk to its lowest level in a decade at a time when inward migration is soaring to unprecedented levels. This combination is likely to further exacerbate rental market pressures.

Slowing building activity is a problem given the construction industry is a significant employer in Australia, and we have a woefully undersupplied housing market already.

This is one reason why rents have risen at more than 10% per annum nationally over the past year.

And, of course, slowing activity is not good for building companies among the ASX 200 materials shares.

The global supply disruption made it hard for these companies to maintain stock levels, meaning they missed out on sales.

Now that those supply chain issues have been somewhat resolved, building activity is decidedly lower, resulting in less demand for their goods.

Are things looking up?

Global supply chain issues have been somewhat resolved, but finding and retaining labour remains hard.

However, inflation is now falling in both Australia and the United States, where some of these companies have significant businesses. As a result, this period of interest rate hikes is potentially nearing an end.

This bodes well for the housing market, especially given values have pulled back significantly in Australia. This could provide tailwinds for construction in the not-too-distant future.

As we know, share markets look forward, not back.

Several experts are suggesting it is time to buy some of these beaten-down ASX 200 materials shares. Here are a few broker opinions.

Buy these ASX 200 materials shares now, say experts

Wilsons equity strategist Rob Crookston recommends buying James Hardie shares, which are trading up 1.2% to $33.43 per share today.

Crookston says:

There are strong structural tailwinds behind the US and Australian housing markets. We view James Hardie as an attractive investment at this juncture.

We think James Hardie is well placed to take advantage of market softness to strengthen its market position and drive further profitable volume share gains.

James Hardie currently trades on a price-to-earnings ratio (PE) of 17x, which is 1 standard deviation below its 10-year average.

Last month, Morgans retained its add rating on Brickworks shares with an improved price target of $26.25.

The broker says the Brickworks share price (currently up 1.7% to $23.46) represents a sizeable discount to the company's net tangible assets (NTA), which it estimates are worth $35 per share.

Wilson senior equity analyst Sam Koch is backing Boral shares for growth in 2023.

Koch says:

Their new CEO Vik Bansal, we think, is a great fit. He has the operational capability to deliver a turnaround plan. We believe there's a materially better outlook for this business versus its peers.

The post Building industry woes and ASX 200 materials shares: What investors need to know appeared first on The Motley Fool Australia.

This sees a number of ASX shares move into and out of particularly indices, such as the All Ordinaries index, the S&P/ASX 200 Index, and the S&P/ASX 100 index.

On Friday, the index solutions company released its latest rebalance of these indices and revealed that four shares will be dumped from the widely followed, benchmark ASX 200 index when the index rebalances in two weeks on 20 March.

Which ASX 200 shares are being dumped?

The four ASX 200 shares that will be kicked out later this month are building materials company Adbri Ltd (ASX: ABC), battery technology company Novonix Ltd (ASX: NVX), gold miner Ramelius Resources Ltd (ASX: RMS), and fleet management company Smartgroup Corporation Ltd (ASX: SIQ).

Normally, this sort of news would put a lot of pressure on a company's share price. That's because the sell side will soon become stacked with sell orders from funds that track the index and fund managers that have strict investment mandates allowing them to only invest in companies in the ASX 200 index and above.

However, with the market charging higher today following a very strong night of trade on Wall Street on Friday, these shares aren't faring too badly given the circumstances. Here's that state of play:

• The Adbri share price is up 1%
• The Novonix share price is 2.5%
• The Ramelius share price is up 1%
• The Smartgroup share price is down slightly

Replacing these ASX 200 shares in the illustrious index will be location technology company Life360 Inc (ASX: 360), construction and mining contractor NRW Holdings Limited (ASX: NWH), medical device company Polynovo Ltd (ASX: PNV), and graphite producer Syrah Resources Ltd (ASX: SYR).

The post These ASX shares are being dumped from the ASX 200 index this month appeared first on The Motley Fool Australia.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to storm higher

The Australian share market looks set to start the week with a bang on Monday following a stellar finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 96 points or 1.3% higher this morning. On Wall Street, the Dow Jones was up 1.2%, the S&P 500 rose 1.6%, and the NASDAQ jumped 2%.

Oil prices strengthen

ASX 200 energy shares including Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) could have a great start to the week after oil prices strengthened on Friday. According to Bloomberg, the WTI crude oil price was up 1.9% to US$79.68 a barrel and the Brent crude oil price rose 1.3% to US$85.83 a barrel. Oil prices rose after reports claimed that the UAE would not leave OPEC.

Quarterly rebalance

A number of ASX 200 shares will be worth watching closely today amid news that they will be dumped from the benchmark index at the next rebalance. Building materials company Adbri Ltd (ASX: ABC), battery technology company Novonix Ltd (ASX: NVX), gold miner Ramelius Resources Ltd (ASX: RMS), and fleet management company Smartgroup Corporation Ltd (ASX: SIQ) will all exit the index on 20 March.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a solid start to the week after the gold price rose on Friday night. According to CNBC, the spot gold price climbed 1.2% to $1,862.80 per ounce. A softer US dollar led to the precious metal having its strongest week since mid-January.

Goldman says buy Rio Tinto shares

The Rio Tinto Ltd (ASX: RIO) share price could be great value according to analysts at Goldman Sachs. This morning, the broker has added the mining giant to its coveted conviction list with a buy rating and $140.40 price target. Goldman highlights Rio Tinto's "compelling relative valuation vs. peers."

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is down over 5% to $2.17. This has been driven by the footwear and fashion retailer's shares trading ex-dividend this morning for its upcoming interim dividend. Eligible shareholders can now look forward to receiving this 12 cents per share fully franked dividend next month on 9 March.

Adbri Ltd (ASX: ABC)

The Adbri share price is down 8% to $1.69. Investors have been selling the building materials company's shares following the release of its full-year results. Adbri reported an 8.4% increase in revenue to $1.7 billion but a 31% decline in its net profit to $77.7 million. In light of this decline and its capex requirements, the company scrapped its final dividend to conserve cash.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price is down 11% to $3.69. This has been driven by the release of the retail giant's half-year results. Harvey Norman reported flat revenue, a 14.5% decline underlying profit after tax to $291.09 million, and a 35% cut to its interim dividend to 13 cents per share. The market was expecting a profit of $323 million and an 18 cents per share dividend.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price has crashed 24% to $1.10. Investors have been heading to the exits after the sports betting company released its half-year results. Pointsbet reported decent top line growth but still reported a $178 million loss for the half. This was partly driven by surprisingly poor earnings from the Australia business, which missed consensus estimates.

The post Why Accent, Adbri, Harvey Norman, and Pointsbet shares are sinking appeared first on The Motley Fool Australia.

Stock in the cement and lime products manufacturer is currently down 7.07%, trading at $1.71.

ASX 200 stock Adbri crumbles as dividend dumped

Here are the key takeaways from the company's earnings announcement:

• $1.7 billion of revenue – up 8.4% on the prior comparable period (pcp)
• $102.6 million of net profit after tax (NPAT) – down 12.1%
• $157.2 million of earnings before interest and tax (EBIT) – down 10.1% on the pcp
• $166.4 million of operating cash flow –  a 15% fall on that of the pcp
• Net debt reached $576.4 million – a 32% increase
• No final dividend declared

Adbri declined to pay a final dividend due to the capital required to complete its Kwinana Upgrade Project.

Its debt levels also increased last year, reflecting its Zanows acquisition and the upgrade project. Though, they were offset by $96.8 million of cash proceeds from the sale of property, plant, and equipment.

The company's cash flow was dinted by lower earnings and higher working capital. Its capital expenditure came in at $255.1 million for the year – up 81.5% year-on-year.

What else happened last fiscal year?

Revenue at the company's lime business was down just 4% on the prior year despite an 11% drop in volumes on the back of the wind-down in the historical Alcoa contract.

The business' average selling price also lifted by 11.4% as numerous customers swapped from imported to domestic product.

Its concrete and aggregates business, meanwhile, saw revenue jump 12.5% amid solid demand and price increases.

What did management say?

Adbri CEO Mark Irwin commented on the release driving the ASX 200 stock lower today, saying:

Our full year profit result was impacted by higher operating costs caused by inflationary pressures and wet weather events.

Despite some significant operational headwinds during the year, the company made solid progress on a number of strategic initiatives, including our Kwinana Upgrade project, growth of our concrete and aggregates footprint through the Zanows acquisition, further recovery in our lime business, increased exposure to the infrastructure sector and divestment of some surplus land holdings.

What's next?

Looking forward, the company expects cost headwinds to continue.

However, demand for its products is tipped to be bolstered by a backlog of residential works for much of 2023.

Such demand should rebuild resilience and margin.

Finally, the review of the Kwinana Upgrade Project is nearly complete. The company expects capital cost pressures to push its budget above the estimated $290 million. Though, it noted the review confirmed the project's "robust economics".

Adbri stock underperforms the ASX 200

Today's tumble is just the latest experienced by the Adbri share price. The stock is currently 48% lower than it was this time last year. Though, it has lifted 7% so far this year.

For comparison, the ASX 200 has gained 5% over the last 12 months and 3% year to date.

The post Guess which ASX 200 stock is tanking 7% after axing its dividend appeared first on The Motley Fool Australia.

It came on the back of a strong session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) and the S&P 500 Index (SP: .INX) both rose 1.1% overnight while the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) gained 1.5%.

It makes sense then that the S&P/ASX 200 Information Technology Index (ASX: XIJ) posted the biggest gain on the Aussie index, rising 1.3%.

The S&P/ASX 200 Communications Index (ASX: XTJ) also outperformed, gaining 1.1% with the Domain Holdings Australia Ltd (ASX: DHG) share price leading the way, lifting 5.5%.

Meanwhile, market giant CSL Limited (ASX: CSL) saw its share price rise 0.9% on the back of the company's half-year earnings.

On the other end of the market, the S&P/ASX 200 Energy Index (ASX: XMJ) and the S&P/ASX 200 Materials Index (ASX: XMJ) fell 0.4% and 0.2% respectively.

But which ASX 200 share outperformed all others on Tuesday? Let's take a look.

Top 10 ASX 200 shares countdown

The index's best performer today was metal recycler Sims Ltd (ASX: SGM). Its stock soared 7.1% to close at $15.72 on Tuesday.

That was despite the company posting an 80% fall in statutory profit for the first half, leading it to slash its interim dividend by 66% to 14 cents per share.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

It followed a strong session over on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) rose 0.8% overnight while the S&P 500 Index (SP: .INX) gained 1.3% and the Nasdaq Composite Index (NASDAQ: .IXIC) lifted 1.9%.

Back home, the S&P/ASX 200 Financials Index (ASX: XFJ) was out in front, gaining 0.9% today. The Suncorp Group Ltd (ASX: SUN) share price helped drive the sector higher, rising 4.6% on the company's half-year earnings.

On the other end of the market, the S&P/ASX 200 Health Care Index (ASX: XHJ) dropped 0.6%. It was dragged lower by shares in Healius Ltd (ASX: HLS). The stock plummeted 5.4% amid a broker downgrade.

But which ASX 200 shares managed to post today's biggest gains? Let's take a look.

Top 10 ASX 200 shares countdown

The top performing ASX 200 share today was building and construction materials company Boral Limited (ASX: BLD).

It lifted 12.8% to close at $3.97 on the back of a $56.8 million first-half profit – a 53% year-on-year improvement.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

It follows a similarly poor session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) slumped 0.77% on Monday's session overseas, while the S&P 500 Index (SP: .INX) dropped 1.3% and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) slid 2%.

It makes sense, then, that the S&P/ASX 200 Information Technology Index (ASX: XIJ) posted the day's worst performance. It fell 1.3% on Tuesday, weighed down by the Megaport Ltd (ASX: MP1) share price's 25% tumble on the back of the company's quarterly earnings.

Mining shares also broadly suffered today, with the S&P/ASX 200 Materials Index (ASX: XMJ) falling 0.8%.

But not all was dire. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) posted the biggest gain, rising 2.3%.

So, with all that in mind, let's dive into the 10 shares outperforming all others on Tuesday.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 share was none other than supermarket giant Woolworths Group Ltd (ASX: WOW).

It rose 3.77% to close at $36.08 amid news Credit Suisse upgraded the stock to outperform, slapping it with a $36.51 price target.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Energy Index (ASX: XEJ) posted the market's biggest gains today, lifting 1.5% despite a disappointing Friday for global oil prices.

The Brent crude oil price fell 1.5% to US$85.57 a barrel on Friday while the US Nymex crude oil price slumped 1.5% to US$79.98 a barrel.

Perhaps less surprisingly, the S&P/ASX 200 Materials Index (ASX: XMJ) also soared, gaining 1.4% after a strong session for iron ore.

Iron ore futures surged 4.2% to US$107.44 a tonne on Friday, leaving it up 15.9% for the week just been. 

Also on Friday, S&P Dow Jones Indices outlined upcoming changes to the index, set to take effect on 19 December. From then on, St Barbara Ltd (ASX: SBM) will be removed from the ASX 200 with Monadelphous Group Limited (ASX: MND) taking its place.

But it wasn't all green on the Aussie bourse today. The S&P/ASX 200 Health Care Index (ASX: XHJ) slipped 0.7% while the S&P/ASX 200 Utilities Index (ASX: XUJ) dumped 1.1%.

At the end of Monday's session, six of the ASX 200's 11 sectors were in the green. But which stock took out today's top spot? Keep reading to find out.

Top 10 ASX 200 shares countdown

Monday's top-performing ASX 200 stock was Fortescue Metals Group Limited (ASX: FMG). Its share price soared 6.9% today.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.