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

Alcoa Corporation (ASX: AAI)

The Alcoa Corporation share price is down 8% to $44.01. This follows the release of the aluminium miner's quarterly update. For the second quarter, Alcoa reported sales of US$2.9 billion but a profit of just US$20 million. Though, this is actually a big improvement on the prior corresponding period when it recorded a US$102 million loss. For the first half of FY 2024, sales came in at US$5,505 million with a loss of US$232 million. Alcoa recently landed on the ASX boards after acquiring Alumina Limited (ASX: AWC).

FBR Ltd (ASX: FBR)

The FBR share price is down almost 17% to 4 cents. This follows the completion of an institutional placement which saw the robotics company raise approximately $12.5 million before costs. This was through the issue of approximately 328.9 million shares at a price of 3.8 cents per new share, which is 20.8% discount to where they last traded. Management advised that the placement received strong support from new and existing institutional and sophisticated investors both at home and abroad. The proceeds of the placement will be used to provide additional working capital to deliver a number of key upcoming milestones.

Santos Ltd (ASX: STO)

The Santos share price is down almost 4% to $7.57. Investors have been selling Santos and other ASX energy shares today following a sharp decline in oil prices on Friday. According to Bloomberg, the WTI crude oil price was down 3.7% to US$73.52 a barrel and the Brent crude oil price was down 3.4% to US$76.81 a barrel. This was driven by concerns over the US economy and the prospect of a recession.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is down over 9% to 22.2 cents. This is despite the lithium explorer announcing high grade intercepts at the Tabba Tabba Lithium Project near Port Hedland. Management notes that the "results continue to demonstrate thick, high grades at the Leia Pegmatite and a new high-grade zone at Chewy North." Tabba Tabba is near some of the world's largest hard-rock lithium mines. It is 47km from the Pilgangoora Project owned by Pilbara Minerals Ltd (ASX: PLS) and 87km from the Wodgina Project owned by Mineral Resources Ltd (ASX: MIN).

The post Why Alcoa, FBR, Santos, and Wildcat shares are sinking today 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:

Alumina Ltd (ASX: AWC)

The Alumina share price is down 5% to $1.53. This morning, the alumina producer revealed that major shareholder, CITIC Group, has advised that it is supportive of its takeover by Alcoa Corp (NYSE: AA) and intends to vote in favour of the deal. CITIC Group has a 18.9% stake in the company. While this is positive news, it is having no effect on its share price today. That's because Alumina's takeover is an all-scrip deal. This means that it tends to move in line with the Alcoa share price at present. So, with Alcoa's shares taking a tumble on Wall Street overnight, Alumina's shares have fallen to reflect this.

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is down 9% to $32.89. This follows news that the pizza chain operator plans to close approximately 80 underperforming stores in the Japan market. However, management advised that the majority of customers that ordered from these stores will be covered in the delivery network of remaining stores. Also, in France, Domino's is targeting a net 10-20 store reduction in FY 2025. Once again, it believes the majority of delivery orders from these stores will be serviced by neighbouring stores, resulting in earnings improvements.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 2.5% to $1.78. This counter drone company's shares have come under pressure this week after its incredible rally ran out of steam. The company's market capitalisation rose to approximately $2 billion before its shares started to crater. This may have been driven profit taking from some investors, which then led to panic selling from other investors. DroneShield's shares remain up almost 500% since this time last year despite this week's selloff.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 5.5% to $94.28. Investors have been selling WiseTech Global and other ASX tech stocks on Thursday following a selloff on the Nasdaq index on Wall Street overnight. Investors in the United States were locking in gains and rotating out of high-flying tech stocks and into other areas of the market. This has led to the S&P/ASX All Technology Index falling by a sizeable 2.2% today.

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The last time Brisbane was the second highest-value capital city in Australia was 27 years ago, in 1997.

The national median home value, which reflects all types of property in a single data point, rose for a 16th month, up 0.8%, according to CoreLogic data. The median house and apartment prices lifted 0.8% as well.

Meantime, the S&P/ASX 200 Index (ASX: XJO) rose 0.49%, thus recovering only a sliver of its 3% loss in April. But as usual, some stocks shot the lights out, including an ASX biotech that screamed 20.6% higher.

CoreLogic research director Tim Lawless said the May increase in the median home value was the strongest monthly gain since October 2023.

A lack of stock for sale in the strongest markets, which continue to be the mid-sized capital cities, once again powered the national benchmark increase.

Lawless commented:

The number of properties available for sale in Perth and Adelaide remain more than -40% below the five-year average for this time of the year while Brisbane listings are -34% below average.

Inventory levels in these markets remain well below average despite vendor activity lifting relative to this time last year.

Fresh listings are being absorbed rapidly by market demand, keeping stock levels low and upwards pressure on prices.

Perth, Adelaide and Brisbane recorded the highest home value growth in May at 2%, 1.8%, and 1.4%, respectively.

Among the regional markets, regional Western Australia dominated with 1.8% growth, followed by regional South Australia with 1.4%, and regional Queensland with 1.1%.

Shares vs. property price growth in May

Here's how shares vs. property performed in terms of house price growth and share price growth in May.

Top 5 risers of the ASX 200 in May

The S&P/ASX 200 Index (ASX: XJO) lifted 0.49% in May.

According to CommSec data, these 5 ASX 200 shares were the outperformers.

What drove the Telix Pharmaceuticals share price higher?

News released by Telix Pharmaceuticals on the final day of the month pushed the biotech share to the top of the ASX 200 group. The Telix Pharmaceuticals share price soared 15.31% on 31 May alone.

Telix is a commercial-stage biopharmaceutical company. It develops diagnostic and therapeutic products to treat cancer with new precision using targeted radiation.

Its diagnostic imaging can precisely locate the cancer. Its therapeutics can then deliver isotopes directly to affected cells, thereby protecting healthy tissue.

On 31 May, the company announced additional positive data from its ProstACT SELECT trial of TLX591.

TLX591 is a treatment for adult men with PSMA-positive metastatic castrate-resistant prostate cancer.

Telix said the study reported a median radiographic progression-free survival (rPFS) of 8.8 months.

This builds on prior data from the trial showing a favourable safety profile and biodistribution.

Dr Nat Lenzo, a nuclear oncologist and lead recruiter for the SELECT trial, said:

We are encouraged by this rPFS result …

This is a compelling signal of the potential efficacy of TLX591 in this heavily pre-treated population.

The results further support the development of this candidate in an earlier mCRPC patient population which is the focus of the ProstACT GLOBAL7 Phase III trial and where there remains significant unmet need for effective treatment.

Telix shares also rose by 2.53% on 22 May when the company held its annual general meeting.

In a speech, Telix Chair Kevin McCann said:

Despite all that we have achieved, there is plenty more to come. Indeed, it is the view of Management that 2024 is going to be the biggest year yet for Telix.

By the end of the year, we expect to have launched new products and territories, reported several key development milestones for our therapy programs and progressed some of our very exciting "next generation" assets – such as TLX592 and TLX300.

The post How ASX shares vs. property performed in May appeared first on The Motley Fool Australia.

The month just past saw the ASX 200 close up 0.5% at 7,701.7 points.

But these three companies left those gains far behind.

Which companies am I talking about?

Read on.

Three ASX 200 stocks ripping higher in May

The third best performer on the Aussie benchmark index in May was Alumina Ltd (ASX: AWC), a holding company focused on alumina and bauxite production.

Shares in the ASX 200 stock closed out April trading for $1.63 and finished May at $1.91 apiece, up 16.6%.

The Alumina share price has been surging in 2024 amid fast-rising aluminium prices. Up 14% in 2024, the aluminium price gained more than 6% in May to close the month at US$2,703 per tonne.

Of course, the big news in May was the market update on the proposed takeover of Alumina Alcoa Corp (NYSE: AA), announced on 21 May.

The United States-based mining giant is looking to acquire Alumina, offering 0.02854 Alcoa shares for each Alumina share. With the Alcoa share price up 26% in May, investors were taking advantage by piling into Alumina shares.

Moving on to the second ASX 200 stock racing higher in May, which was PEXA Group Ltd (ASX: PXA).

Shares in the digital property exchange and data insights business closed April at $12.26 and finished May trading for $14.63 apiece, up 19.3%.

Much of that came on 2 May, when the ASX 200 stock closed up 11.0% after reporting it was progressing a strategic partnership with United Kingdom based lender, NatWest. Under the deal, NatWest will employ PEXA's digital property exchange technology to deliver 48-hour remortgage transactions to its customers. The platform will also enable NatWest to speed up the handling of sale and purchase transactions.

Commenting on the deal, Joe Pepper, UK CEO of PEXA said, "As one of the UK's major lenders, NatWest shares a common goal of driving digital innovation and transforming the customer experience to address the chronically long time it takes to transact property in the UK market."

Investors also responded positively to PEXA's third-quarter update on 7 May, with shares closing up 1.2% on the day.

Which brings us to the top performing ASX 200 stock in May, Telix Pharmaceuticals Ltd (ASX: TLX).

The Telix Pharmaceuticals share price ended April at $15.05 and closed out May at $18.15, up an impressive 20.6%.

There was a lot going on with the biopharmaceutical company over the month, starting on 3 May. That's when the company announced it had completed the acquisition of QSAM Biosciences, a US-based company developing therapeutic radiopharmaceuticals for primary and metastatic bone cancer.

Shares dropped 4.2% when the company reported its first-quarter results on 17 May.

But investors were quick to pile back into the ASX 200 stock the following trading day when the company reported filing for an initial public offering (IPO) on the Nasdaq.

And Telix shares finished the month with a bang, closing up 15.3% on 31 May after management announced positive results from the company's ProstACT SELECT clinical cancer trial.

Telix's TLX591 drug is being developed to treat adult patients with PSMA-positive metastatic castrate-resistant prostate cancer.

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While that was positive, a number of ASX 200 shares smashed the market with significantly stronger returns.

Here are the best performing ASX 200 shares in May:

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price was the best performer on the ASX 200 in May with a gain of 20.6%. The majority of this came on the final day of the month after investors responded very positively to a trial update. The radiopharmaceuticals company released additional positive data from the ProstACT SELECT trial of TLX591. It is a lutetium-labelled rADC therapy for the treatment of adult patients with PSMA-positive metastatic castrate-resistant prostate cancer. Telix's chief medical officer, Dr David N. Cade, commented that: "TLX591 is a radio-ADC with significant potential advantages compared to small molecule radiopharmaceuticals in treating prostate cancer."

PEXA Group Ltd (ASX: PXA)

The PEXA share price wasn't too far behind with a gain of 19.3% in May. This was driven by the property settlements technology company announcing that it is progressing a strategic partnership with UK banking giant NatWest. This partnership will see the UK lender utilise PEXA's world-leading digital property exchange technology to deliver 48-hour remortgage transactions to its customers. In addition, the bank will extend its use of the PEXA platform to speed up the handling of sale and purchase transactions.

Alumina Ltd (ASX: AWC)

The Alumina share price was on form last month and charged 16.6% higher. This gain relates to the company's proposed takeover by Alcoa Corp (NYSE: AA). As the aluminium giant is aiming to acquire Alumina in an all-scrip deal, the value of the offer rises and falls with the Alcoa share price. So, with Alcoa's shares rising strongly in May, the implied value of the offer increased with it. Alumina shareholders stand to receive 0.02854 Alcoa shares if the deal completes. This represents an offer of US$1.27 (A$1.91) per share at present.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle Investment Management share price had a strong month and rose 16.3%. This was despite there being no major news out of the investment management company in May. Though, it is worth noting that the company was the subject of a couple of bullish broker notes during the month. For example, Ord Minnett put a buy rating and $16.00 price target on its shares and Macquarie put an outperform rating and $14.52 price target on its shares. This compares favourably to its current share price $13.18.

The post These were the best performing ASX 200 shares in May 2024 appeared first on The Motley Fool Australia.

With less than half a trading session left in the week, the ASX 200 is down 0.8% since last Friday's closing bell.

The benchmark index is up 0.5% in afternoon trade today and finished up 0.8% on Monday but lost ground on the other three trade days.

However, these three ASX 200 shares managed to gain 4.2%, 6.5% and 9.2% over this same period.

One provides medical imaging technology. Another is a holding company focused on bauxite and alumina. The third is a dairy processor and food manufacturer.

Any guesses?

Keep those in mind as we move on to the big reveal.

Three ASX 200 shares leaping higher this week

First up, we have Alumina Ltd (ASX: AWC).

The Alumina share price closed last Friday at $1.74. At the time of writing, shares are swapping hands for $1.90 apiece, up 9.2%.

With no price sensitive news out from the ASX 200 share this week, investors appear to have been buying the company amid a strong, ongoing increase in global aluminium prices. Aluminium was trading for US$2,621 per tonne last Friday. That same tonne is worth US$2,703 today, up 3.1%.

Aluminium prices are up 16% year to date.

Which brings us to the second ASX 200 share leading the charge higher this week, Bega Cheese Ltd (ASX: BGA).

The Bega Cheese share price closed last Friday at $4.31. In afternoon trade today, shares are changing hands for $4.50 apiece, up 4.2%.

All of those gains, and then some, are being scored today, with Bega Cheese shares up 7.2% in intraday trading.

The last price sensitive announcement from the company was way back in February.

So, I believe today's big price surge could be based on investor speculations that milk prices may be coming down over the months ahead, reducing the company's input costs.

Rounding out the list of ASX 200 shares topping the leaderboard this week is Pro Medicus Ltd (ASX: PME).

(Did you guess all three?)

The Pro Medicus share price closed last Friday at $115.70. At the time of writing, shares are changing hands for $123.23, up 6.5%.

Investors have been bidding up the stock since Tuesday when the company announced it had inked five new customer contracts with a combined value of at least $45 million.

The company said the contracts would be fully cloud-deployed. Management expects them to be completed within the next six months.

Likely helping spur interest in the ASX 200 share, CEO Sam Hupert noted, "Despite record new contract signings this year, our pipeline remains strong with a broad range of opportunities both in terms of size and market segments."

The post Guess which 3 ASX 200 shares are leading the charge higher this week appeared first on The Motley Fool Australia.

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Yep, seven!

Their strong performance is helping lift the benchmark index 0.3% in early afternoon trade.

Any guesses?

Keep those in mind and read on.

ASX 200 shares charging to 52-week highs or more

The first ASX 200 share reaching new 52-week highs on Wednesday is Technology One Ltd (ASX: TNE).

The Technology One share price is up 6.3% at $17.80 a share. That's not just a new 52-week high for this tech stock but would also mark a new all-time closing high.

Technology One shares closed up 4.6% yesterday after the company reported some strong half-year results. Those included a 16% year on year increase in profit after tax to $48 million.

The second ASX 200 share hitting fresh one-year highs is Webjet Ltd (ASX: WEB).

The Webjet share price is up 9.1% at $9.21 a share. That represents a new post-pandemic high.

Webjet shares are soaring today following the company's full year results. Highlights included a 29% year on year revenue boost to $472 million. Webjet also announced a potential demerger of its two travel divisions, which would each be listed separately on the ASX.

The third ASX 200 share hitting new 52-week highs today is Emerald Resources (ASX: EMR).

The Emerald Resources share price is up 1.6% at $3.94 a share. This also marks a new all-time high for the gold mining stock, which is now up 103% over 12 months.

With no recent price sensitive news out from the company, the share price looks to be benefiting from the soaring gold price.

The fourth ASX 200 share reaching new 52-weel highs today is A2 Milk Co Ltd (ASX: A2M). A2 Milk shares are up 1.9% trading for $6.92 apiece.

That sees the A2 Milk share price up 63% in 2024.

There's no recent news out from the company. Investor excitement was roused by management's forecast of low to mid-single digit revenue growth for FY 2024 when the company released its half-year results in February.

The fifth ASX 200 share notching fresh 52-week highs today is Telix Pharmaceuticals Ltd (ASX: TLX).

The Telix Pharmaceuticals share price is up 6.2% at $16.34 a share. That's also a new all-time high for the ASX healthcare stock. Investors have been buying the stock amid a series of strategic acquisitions and rising revenues.

Shares are getting a boost today on the back of the company's AGM.

Which brings us to the sixth ASX 200 share hitting new 52-week highs on Wednesday, Alumina Ltd (ASX: AWC).

The Alumina share price is up 5.0% at $1.83 a share, the highest level in two years.

Investor enthusiasm was kindled yesterday when the company released an update on Alcoa's proposed acquisition of all of its shares.

Rounding off the list, the seventh ASX 200 share smashing new 52-week highs today is CSR Ltd (ASX: CSR).

Shares in the building products company are up 0.3%, trading for $8.93 apiece. If CSR shares can hold onto this slender gain by market close this will also mark a new five-year high.

CSR is also an acquisition target. The company provided its last update on the proposed acquisition by Saint-Gobain for $9.00 a share in cash a week ago, on 15 May.

So, did you guess all seven ASX 200 shares hitting new 52-week highs or more?

Give yourself a virtual gold star!

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Investors view these ASX 200 large-cap stocks as solid investments providing good dividend income.

A key component in the earnings of these companies is commodity prices.

Miners are 'price takers', which means they sell the stuff they dig up for prices largely dictated by the global commodities markets.

That's why we see ASX stock prices go up and down every day in line with commodity values.

If the iron ore price rises, it means companies like BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG) will earn more, and this tends to push their share prices up.

So, it's helpful to know if commodity prices are likely to go up or down over the short to medium term.

Of course, no one has a crystal ball, but every year, the Federal Department of Industry and Resources has a crack at forecasting how commodity values will change over the next five years.

Those forecasts have just been published, and we've got all the details for you.

FY24 to FY29 commodity price forecasts

Here are the price forecasts for 10 different commodities.

Iron ore price

FY24: US$103 per tonne (up from US$95 per tonne in FY23)
FY29: US$75 per tonne

Examples of ASX 200 iron ore shares: BHP, Fortescue, Rio Tinto Ltd (ASX: RIO)

Gold price

FY24: US$1,995 per ounce (up from US$1,831 per ounce in FY23)
FY29: US$1,909 per ounce

Examples of ASX 200 gold shares: Newmont Corporation CDI (ASX: NEM), Northern Star Resources Ltd (ASX: NST)

Copper price

FY24: US$8,258 per tonne (down from US$8,289 per tonne in FY23)
FY29: US$10,061 per tonne

Example of ASX copper shares: Sandfire Resources Ltd (ASX: SFR)

Lithium spodumene price

FY24: US$1,800 per tonne (down from US$5,174 per tonne in FY23)
FY29: US$1,231 per tonne

Examples of ASX lithium shares: Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO)

LNG price

FY24: $17 per gigajoule (down from $21 per gigajoule in FY23)
FY29: $12 per gigajoule

Brent crude oil price

FY24: US$84 per barrel (down from US$87 per barrel in FY23)
FY29: US$73 per barrel

Examples of ASX energy shares: Woodside Energy Group Ltd (ASX: WDS), Ampol Ltd (ASX: ALD)

Uranium price

FY24: US$85 per pound (up from US$51 per pound in FY23)
FY29: US$119 per pound

Examples of ASX uranium shares: Paladin Energy Ltd  (ASX: PDN), Boss Energy Ltd (ASX: BOE)

Metallurgical & thermal coal prices

Metallurgical

FY24: US$289 per tonne (up from US$277 per tonne in FY23)
FY29: US$207 per tonne

Thermal

FY24: US$135 per tonne (down from US$302 per tonne in FY23)
FY29: US$115 per tonne

Examples of ASX 200 coal shares: Whitehaven Coal Ltd (ASX: WHC), Yancoal Australia Ltd (ASX: YAL)

Alumina & aluminium prices

Alumina

FY24: US$341 per tonne (down from US$343 per tonne in FY23)
FY29: US$369 per tonne

Aluminium

FY24: US$2,204 per tonne (down from US$2,333 per tonne in FY23)
FY29: US$2,685 per tonne

Examples of ASX alumina shares: Alumina Limited (ASX: AWC), South32 Ltd (ASX: S32)

Nickel price

FY24: US$17,889 per tonne (down from US$23,911 per tonne in FY23)
FY29: US$20,950 per tonne

Example of ASX nickel shares: IGO Ltd (ASX: IGO)

The trends driving commodity values

There is a clear main trend in this year's numbers. Commodity prices are more likely to rise for the metals and minerals essential to the green energy transition, such as copper, which is used for electrification.

This will directly benefit ASX 200 mining shares specialising in the red metal.

Minister for Resources Madeleine King said commodities would continue to underpin Australia's economic wellbeing.

While global prices are easing, the March 2024 Resources and Energy Quarterly shows demand is likely to be sustained for commodities used in low emissions technologies, including iron ore, copper, aluminium and lithium. The road to net zero runs through Australia's resources sector.

Another trend is the rising demand for resources from India.

While demand from China will continue to drive commodity prices, India is expected to need a lot more resources as it industrialises. The Indian economy is the fastest growing in the world right now.

The post Own ASX 200 mining shares? Here's the 5-year forecast for commodity prices appeared first on The Motley Fool Australia.

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The index measures the entire housing market, including houses, townhouses, and units.

Digging deeper into the data from CoreLogic, we see that the median Australian house price and apartment price both increased by 0.6% in March.

CoreLogic research director Tim Lawless said this was the 14th consecutive month of growth, however, price gains varied across individual markets.

At one end of the scale we have Perth's housing market where values were up 1.9% over the month, followed by Adelaide and Brisbane with 1.4% and 1.1% growth.

The remaining capitals are showing much lower rates of change, although Melbourne is the only capital city to record a negative quarterly movement, down -0.2% over the first three months of the year.

Among the regional markets, regional Western Australia led the way with an extraordinarily strong 2.1% growth in home values in March. Regional South Australia and regional Queensland followed with 1.1%.

Lawless added:

The diversity in housing value outcomes can be explained by significant differences in factors like housing affordability, demand-side pressures from population growth and shortcomings in housing supply.

Focusing on the extreme growth conditions in Perth, despite such a rapid pace of capital gains, housing values remain relatively affordable compared with the larger capital cities.

Housing remains in short supply and purchasing demand is still high due to interstate and overseas migration rates that are well above average.

Meantime, the ASX 200 rose over the month due to optimism over possible interest rate cuts soon.

Last Thursday, the ASX 200 hit a new record high with an intraday peak of 7,901.2 points. The benchmark is currently trading at 7,906.7 points, up 0.12% on Tuesday.

Shares vs. property price growth in March

Here is how shares vs. property performed in terms of price growth in the month of March.

Source: CoreLogic

Top 5 risers of the ASX 200 in March

The S&P/ASX 200 Index (ASX: XJO) appreciated by 2.57% in March.

According to CommSec data, these ASX 200 shares below outperformed the benchmark index by a mile.

Here were the top risers of the month.

Source: CommSec

What drove the Life360 share price higher?

Life360 released its FY23 results last month, revealing adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of US$20.6 million.

Investors were impressed given the company's guidance had been far lower at US$12 million to US$16 million. The Life360 share price gained 24% shortly after the market open on the day of the news.

The technology company is now guiding an adjusted EBITDA of between US$30 million and US$35 million for FY24.

Life360 also announced the launch of a new advertising revenue stream, with advertising partners gaining access to its free user base and more than 20 million daily active users (DAU).

Co-founder and CEO, Chris Hulls said:

We have consistently spoken of the potential that our investment in the core user experience, and the scaling of our MAU [monthly active users] base, would provide for the future.

We are encouraged by the success of early testing and see the opportunity to deliver an attractive platform to advertisers, while continuing to provide a great user experience.

The post How ASX shares vs. property performed in March appeared first on The Motley Fool Australia.

While this was an impressive gain, it wasn't as strong as some that were recorded on the ASX 200 index.

For example, the best-performing ASX 200 shares last month are named below. Here's how they performed:

Life360 Inc (ASX: 360)

The Life360 share price was the best performer on the ASX 200 in March with a 65% gain. Investors were fighting to get hold of the location technology company's shares following the release of its FY 2023 results. Life360 posted a 52% jump in subscription revenue to US$200 million and smashed its earnings guidance with adjusted EBITDA US$20.6 million. The latter compares to its guidance of US$12 million to US$16 million. In addition, the company announced plans to monetise its 60 million monthly active users with the launch of an advertising business.

West African Resources Ltd (ASX: WAF)

The West African Resources share price was the next best performer with a 38% gain last month. Investors were buying West African Resources and other ASX gold miners after the price of the precious metal surged. This was driven by optimism that inflation is now cooling and interest rates are going to fall. In addition, the company was granted a mining permit for the Toega gold deposit in Burkina Faso. For similar reasons, Ramelius Resources Ltd (ASX: RMS) shares were on fire and rose 31% in March.

Virgin Money UK (ASX: VUK)

The Virgin Money UK share price caught the eye with a monthly gain of 33%. Investors were snapping up the UK-based bank's shares after it received a takeover offer. Nationwide Building Society tabled an offer of 220 British pence per share, which equates to $4.26 per share based on current exchange rates. This values the bank at approximately $5.7 billion. Virgin Money UK has since accepted the offer.

Alumina Ltd (ASX: AWC)

The Alumina share price was on form and raced 29% higher in March. This was also driven by a takeover approach. In the middle of the month, Alumina entered into a scheme implementation deed with Alcoa Corporation. This will see Alcoa acquire 100% of Alumina by way of a scheme of arrangement for 0.02854 Alcoa shares for each Alumina share held. Alcoa shares were trading at US$33.21 on Thursday, valuing the offer at US$0.948 per share (A$1.45 per share).

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

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

Alumina Ltd (ASX: AWC)

The Alumina share price is up 8% to $1.27. This morning, Alumina entered into a scheme implementation deed with Alcoa Corporation. This is in relation to the recently announced proposal for Alcoa to acquire 100% of Alumina by way of a scheme of arrangement for 0.02854 Alcoa shares for each Alumina share held.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up almost 4% to $4.15. This follows news that the lithium miner has signed a new offtake agreement with Sichuan Yahua Industrial Group (Yahua) for the supply of spodumene concentrate from the Pilgangoora Operation. Yahua is a leading lithium chemicals company and one of the largest lithium hydroxide producers globally. It supplies to companies such as Tesla, LG Energy Solutions, LG Chem, and CATL.

QANTM Intellectual Property Ltd (ASX: QIP)

The QANTM share price is up 15% to $1.60. Investors have been buying the intellectual property services company's shares after it received another takeover offer. A non-binding indicative offer has been tabled from Adamantem Capital to acquire QANTM for $1.817 per share by way of a scheme of arrangement. This is higher than an offer received last month from Rouse International.

Ramelius Resources Ltd (ASX: RMS)

The Ramelius share price is up 4% to $1.56. This follows the release of the gold miner's 10-year plan for the Mt Magnet mine. Management estimates average annual production of 150,000 ounces with an all-in sustaining cost (AISC) of $1,600 to $1,800 per ounce. Though, for the first 3.5 years it expects a lower AISC of $1,250 to $1,450 per ounce.

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