But there are a few ASX 300 shares that are doing even better than that and have just inked fresh new 52-week highs.

Let's discuss them.

Four ASX 300 shares at new 52-week highs today

United Malt Group Ltd (ASX: UMG)

First up is ASX 300 maltster United Malt Group. The United Malt Group share price has gained a tentative 0.3% so far this Tuesday, putting the company at $4.98 a share. Earlier this morning, we saw those shares climb to $4.99, which is the new 52-week high for United Malt.

This latest new high comes after United Malt confirmed this morning that the scheme of arrangement that will see the company be acquired by the French maltster Malteries Soufflet SAS is now effective. This will see United Malt shares depart the ASX forever tomorrow morning. So this looks like a last hurrah from United Malt investors today. What a way to go out.

Hub24 Ltd (ASX: HUB)

Next up is ASX 300 tech share Hub24. Hub24 shares are doing very well indeed today, currently up a healthy 3.58% to $34.30 each. But this morning, we saw those same shares climb as high as $35.51, the new 52-week high for Hub24.

This move looks like it has been inspired by the company's latest quarterly update, which was also released this morning. Hub24 reported a 34.7% increase in net inflows to $2.8 billion for the quarter ending 30 September.

Investors seem impressed with the news, judging by the share price reaction.

Aussie Broadband Limited (ASX: ABB)

Our next ASX 300 stock worth checking out is telco Aussie Broadband. The Aussie Broadband share price is currently up a decent 2.68% to $4.21 a share. But this morning, we saw Aussie Broadband shares hit a new 52-week high of $4.29.

Unlike the other stocks so far, there hasn't been any fresh news out of Aussie Broadband recently. However, this company's shares have been on a major tear this year, and are now up more than 62% year to date.

News Corporation (ASX: NWS)

Finally, Rupert Murdoch's News Corp is another ASX 300 share that has just minted a fresh new 52-week high. News Corp shares are currently enjoying a rise of 4.03%, putting the company at $35.60 a share. But we saw News Corp shares breach $36 a share this morning, inking a new 52-week high of $36.03.

Again, there's (slightly ironically) been no fresh news out of News Corp today, or recently. But again, this company has been on quite the run in 2023 and is now up almost 32% year to date.

The post These 4 ASX 300 shares just hit new 52-week highs appeared first on The Motley Fool Australia.

But this dip has failed to stop three ASX 200 shares from hitting new 52-week highs this Thursday. Let's dive into them now.

3 ASX 200 shares at new 52-week highs this Thursday

Seven Group Holdings Ltd (ASX: SVW)

First up is Seven Group, the ASX 200 conglomerate run by the Stokes family. Seven shares are currently up a rosy 0.53% at $30.59 each. But earlier today, the company climbed as high as $30.84 a share, which is Seven's new 52-week high watermark, as well as a new all-time record high.

There's been no fresh news out of Seven that we can point to in justifying this new high. But this company has been in high demand for a few months now, with the Seven share price up around 24% since the start of July. It was only a few days since Seven Group's last new 52-week high as well. Year to date, the Seven share price has now risen by a pleasing 45.7%.

Pro Medicus Limited (ASX: PME)

ASX 200 healthcare share Pro Medicus is next up. Pro Medicus shares have gained a robust 1.11% so far today and are currently asking $81.56 each. Just after midday though, the company rose up to a new 52-week high of $82.25. That's also a new all-time high for Pro Medicus shares.

Earlier this week, Pro Medicus revealed it had won a new $140 million contract with Baylor Scott & White Health, which seems to be the catalyst behind this latest surge in Pro Medicus shares.

Since Monday, the Pro Medicus share price has risen by a whopping 14.7%. That puts Pro Medicus shares up 50.2% in 2023 so far.

United Malt Group Ltd (ASX: UMG)

ASX 200 malt share United Malt Group rounds out our list today. United Malt shares are presently asking $4.94 each, up 0.3% so far. But just after market open this morning, we saw United Malt hit a new 52-week high of $4.96.

We probably don't need to look too far with this one. United Malt is currently in takeover talks with the French maltster Malteries Soufflet SAS. Earlier this year, Malteries Soufflet made a bid for United Malt Group at $5 a share.

This morning, we learnt that Malteries Soufflet has gained approval from the French government for the takeover. This means that the takeover is one step closer. So it's no surprise to see the shares edging up further towards the takeover price today.

This puts United Malt shares up 41.7% this year to date.

The post 3 ASX 200 shares smashing all-time highs on Thursday appeared first on The Motley Fool Australia.

So given this slip for the broader markets, it might come as a surprise to see not one, not two, but five ASX 300 shares record new 52-week highs today so far. Let's discuss them.

Five ASX 300 shares hitting new 52-week highs today

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is on fire today, no other way of putting it. This ASX 300 healthcare share has rocketed a pleasing 9.03% so far this session and is currently sitting at $77.65 a share at the time of writing.

But this morning, Pro Medicus shares climbed even higher. The company touched a new 52-week high (and all-time record high) of $78.85 just after market open this morning.

The catalyst for this new high appears to be a significant contract win for Pro Medicus which we discussed this morning.

This gain puts the Pro Medicus share price up by more than 43% year to date.

Paladin Energy Ltd (ASX: PDN)

ASX 300 uranium share Paladin is next up. Paladin shares are also having a strong session, with this company currently having risen by 5.45% to $1.10 a share, Paladin's new 52-week high.

There's been no fresh news or announcements from the company itself that explain this new high.

However, Paladin shares, like most ASX uranium shares, have been on a tear lately, thanks to the nuclear fuel's rocketing price, which has recently hit decade highs. The Paladin share price is now up more than 67% in 2023 so far.

Boss Energy Ltd (ASX: BOE)

Boss Energy is another ASX 300 uranium share that has, like Paladin, been on quite the impressive run of late. These shares are, right now, up a robust 3.17% to $4.88.

However, Boss hit a new 52-week (and all-time) high of $4.90 today. It seems that the same factors behind Paladin's ascension are at play here for Boss.

This latest move higher puts Boss Energy up a whopping 140.9% this year.

Deep Yellow Limited (ASX: DYL)

Yet another ASX 300 uranium share, Deep Yellow is next up here. In this company's case, we've seen the shares gain a pleasing 7.47% so far this session, putting Deep Yellow at $1.29 a share.

But earlier this morning, this company touched a high of $1.31, Deep Yellow's new 52-week high. Again, surging uranium prices seem to be behind this latest high watermark for the company.

The Deep Yellow share price is now up by a happy 87% this year.

United Malt Group Ltd (ASX: UMG)

Changing track now, let's discuss ASX 300 malt producer United Malt Group. United Malt shares are booming by less than the other companies on this list today, with United Malt shares gaining 0.41% at present up to $4.95 each. Nevertheless, $4.95 is a new 52-week and all-time high for this company.

This move higher could be a consequence of the upcoming merger United Malt is undertaking with the French company Malteries Soufflet. Malteries Soufflet is buying United Malt for $5 a share, so it's no surprise to see the share price tick up closer to that pricing. This gain puts the United Malt share price up 41.8% in 2023 thus far.

The post 5 ASX 300 shares smashing new 52-week highs on Tuesday appeared first on The Motley Fool Australia.

But there are a few ASX All Ords shares that are proving to be lights in the dark today by hitting new 52-week highs. Let's check them out.

Six ASX All Ords shares that just hit new 52-week highs

First up is Paladin Energy Ltd (ASX: PDN). Paladin shares are having another positive, if shaky, day today. The All Ords uranium share touched a new 52-week high of $1.04 just after market open this morning. In late afternoon trade, Paladin is trading at $1.01 a share.

This leaves the Paladin Energy share price up a happy 53.3% year to date.

Paladin's uranium-focused peer Boss Energy Ltd (ASX: BOE) is another All Ords share making waves today. Boss shares are presently enjoying a sizeable 2.29% bounce at $4.47  a share. But earlier this afternoon, Boss climbed up to a new 52-week high of $4.55. Today's strong moves put this energy stock up a whopping 121.7% in 2023 thus far.

Next, we have Emerald Resources N.L. (ASX: EMR). Emerald shares are on fire today, with the company currently sitting on a pleasing gain of 4.12% to $2.655 a share. That's right on this All Ords gold stock's new 52-week (and all-time record) high. The Emerald Resources share price is now up an impressive 124.4% this year.

Let's move on to another All Ords uranium share in Lotus Resources Ltd (ASX: LOT). Lotus Resources is another company having an exceptionally strong session this Tuesday. Right now, Lotus shares are fetching 28.5 cents each, up 3.64% for the day. But just after open this morning, Lotus hit a new 52-week high of 29 cents per share. As it currently stands, Lotus shares are up a rosy 50% in 2023 to date.

Last but not least

Our penultimate All Ords stock worth a look is Monash IVF Group Ltd (ASX: MVF).

Monash is another stock that peaked just after market open this morning, climbing to a new 52-week high of $1.30 a share. This healthcare stock's shares have since cooled a little. But the Monash share price still remains up 1.59% today at $1.275 a share, as well as up 37.6% year to date in 2023 thus far.

Finally, let's take a look at United Malt Group Ltd (ASX: UMG). This company is perhaps our least enthusiastic All Ords stock today, with United Malt shares currently only up by 0.1% (still a win in today's market).

But again, it was in morning trade that this company really shone. Just after the commencement of trading this morning, the United Malt share price hit a new 52-week high of $4.95 a share. Right now, this company is up a happy 41.55% this year.

The post 6 ASX All Ords sharing cracking new 52-week highs on Tuesday appeared first on The Motley Fool Australia.

We've been covering the woes of China's economy for a while here at the Fool. Earlier this month, we discussed the country's latest inflation figures, which showed that consumer prices in July fell for the first time since February 2021, down 0.3% year over year.

Indeed, the Chinese economy has been looking especially vulnerable in 2023. These deflationary figures stand in stark contrast to other major economies. In both Australia and the United States, inflation has been falling to healthier levels from the highs we've seen over the past year or two. That's while economic growth is remaining resilient.

Many economic commentators are now saying that the elusive 'soft landing', where rising interest rates damped inflation without causing a recession, is now a distinct possibility.

But the economic difficulties that China is facing are so dire that they are leading to predictions of a government-backed stimulus package in the not-so-distant future.

These predictions are only escalating following news of another property company in China under pressure.

In late 2021, global markets were rocked by the near-collapse of Chinese property developer Evergrande.

Now, according to Reuters, there are reports the country's largest privately owned property developer, Country Garden, has missed two August bond coupon payments.

According to the report, "another batch of sub-par data this week could force authorities' hand" when it comes to a new stimulus package.

So if China does do down the stimulus path once again, which ASX shares could benefit?

Which ASX shares could win from government stimulus in China?

Well, there's little doubt that the biggest winners would be the major ASX mining shares. Iron ore miners like BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG) have been some of China's largest suppliers of raw commodities for the past decade or two.

Indeed, it was demand from China that helped keep these companies' profits afloat during the COVID pandemic. It was the same during the global financial crisis earlier this century.

As such, the likes of BHP, Fortescue, and Rio would be first in line to benefit from a government stimulus package in China. Especially if it involves infrastructure spending or the property sector.

Diversified miner and China exporter Mineral Resources Limited (ASX: MIN) would also probably benefit as well.

We might also see an improvement in the fortunes of gold shares like Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST). The Chinese government has been a significant customer of these gold producers over the past decade as well, as it has looked to bolster its gold reserves.

Agricultural shares could be a dark horse as well

Depending on the nature of whatever stimulus China does announce, if indeed it does, we could also see Australian food producers profit. If the stimulus finds its way into the hands of Chinese consumers, we could see an uptick in demand for products like wine, beef, seafood, malt, dairy, and other popular Australian produce that Chinese consumers have shown a predilection for in the past.

Of course, China still has trade barriers in place for some of these products, including wine, seafood, and beef. That's despite the Chinese Communist Party removing barley tariffs earlier this year. According to recent reporting in The Guardian, prime minister Anthony Albanese plans on raising the ongoing trade barriers directly with Chinese president Xi Jinping later this year when he visits China.

So, obviously, Australian food producers benefitting from a stimulus package is a bit longer of a bow to draw. But even so, it's worth keeping an eye on the likes of Treasury Wine Estates Ltd (ASX: TWE), United Malt Group Ltd (ASX: UMG), and other ASX agricultural shares if and when a stimulus package is announced.

The post Which ASX shares could benefit from government stimulus in China? appeared first on The Motley Fool Australia.

The worst place to have your money invested today was in the ASX mining sector. The S&P/ASX 200 Materials Index (ASX: XMJ) had a clanger, falling by a significant 1.74%, thanks largely to concerns over the slowing Chinese economy.

Miners were by far the worst performer today, but financial shares certainly weren't helping to lift anyone's mood. The S&P/ASX 200 Financials Index (ASX: XFJ) ended up losing a chunky 0.8% this session.

That was slightly exceeded by ASX healthcare shares, with the S&P/ASX 200 Health Care Index (ASX: XHJ) retreating by 0.88%.

But enough with the red ink. Let's now review the three sectors that eked out a rise during today's tough trading conditions.

Leading the pack was the communications sector. The S&P/ASX 200 Communications Index (ASX: XTJ) ended up rising by a solid 0.81% by market close.

Energy stocks weren't too far behind, with the S&P/ASX 200 Energy Index (ASX: XEJ) rising by a pleasing 0.47%.

ASX tech stocks were our final arena that saw investors come out with a win. The S&P/ASX 200 Information Technology Index (ASX: XIJ) edged higher by 0.13%.

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

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

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

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up over 6% to 41.5 cents. This morning, this lithium developer revealed that its 2,000tpa operation commissioning works have advanced to a 24-hour trial of continuous operations. This has led to the production of ~20 tonnes of battery-quality lithium carbonate product, with product quality of 99.79%.

Galan Lithium Ltd (ASX: GLN)

The Galan Lithium share price is up 8% to 94 cents. This follows the release of the phase one definitive feasibility study (DFS) of the Hombre Muerto West (HMW) project. Management advised that the DFS delivers compelling economics from an initial 5.37ktpa LCE operation at HMW, targeting a high-quality 6% concentrated lithium chloride product in the first half of 2025. Phase 1 has an estimated post-tax net present value of US$460 million with an internal rate of return of 36% and free cash flow of US$54 million per year.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4% to $5.09. Investors have been buying this lithium miner's shares following the release of an update on its mid-stream plans. Management advised that it has made significant progress in the detailed front-end engineering and design (FEED) of a proposed mid-stream demonstration plant. A final investment decision is expected in the very near future.

United Malt Group Ltd (ASX: UMG)

The United Malt share price is up 9% to $4.79. This morning, this maltster announced that it has entered into a scheme implementation deed with Malteries Soufflet. This will see the French maltster acquire United Malt by way of a scheme of arrangement. United Malt shareholders will receive $5.00 per share in cash.

The post Why Argosy Minerals, Galan Lithium, Pilbara Minerals, and United Malt shares are rising appeared first on The Motley Fool Australia.

It followed an equally disappointing session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1% as most of Australia slept, while the S&P 500 Index (SP: .INX) dropped 0.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slumped 0.2%.

The United States market struggled amid reports the nation's government is approaching its debt ceiling, which carries the potential to spark a recession.

But that wasn't the only news perused by investors today. Australia's wage price index (WPI) was found to have risen 0.8% in the March quarter and 3.7% over the year, according to Australian Bureau of Statistics (ABS) data.

That likely saw many let out a sigh of relief as it came in below forecasts, suggesting the Reserve Bank of Australia could hold off on another rate hike for now, Reuters reports.

Leading the Aussie bourse today was the S&P/ASX 200 Information Technology Index (ASX: XIJ), gaining 0.9%. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) weighed heaviest, falling 1%.

But which stock outperformed all others on Wednesday? Let's take a look.

Top 10 ASX 200 shares countdown

The biggest gain on the ASX 200 today was posted by the Lake Resources N.L. (ASX: LKE) share price. The stock rose 5.7% to close at 64.5 cents on Wednesday.

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.

Right now, shares in United Malt are trading 1.61% higher at $4.42 on the release of the company's first-half earnings.

Meanwhile, the ASX 200 is down 0.5%.

Stock in ASX 200 maltster soars despite binned dividend

Here are the key takeaways from United Malt's half-year results:

• Revenue lifted 16% to $756.6 million
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) slumped 17% to $38.3 million
• Underlying EBITDA came in at $52.7 million – a 1% improvement
• Posted an after-tax loss of $13.8 million – down from the prior period's $6 million profit
• Basic earnings per share (EPS) came to a 4.6 cent loss
• Interim dividend scrapped

The company's costs climbed over the six months ended 31 March. It recorded $5.6 million of costs from closing out ineffective currency hedges and exchange rate movements, as well as $2 million of one-off restructuring costs, and $6.8 million of software-as-a-service (SaaS) costs.

Meanwhile, lower demand for beer saw its processing segment's sales disappoint in the first quarter. Though, higher barley prices and improved commercial terms saw the segment's revenue rise 23% to $612.7 million.

What else happened last half?

Of course, the big news from the company last half was the takeover bid posed by Mallteries Soufflet. The French maltster offered $5 per stock to acquire its ASX 200 peer.

United Malt granted the suitor due diligence in March. As foretold in a trading update last month, it realised $3 million of one-off costs associated with the $1.5 billion takeover bid.

Its net debt increased 41% last half to $639.2 million, bringing its net debt-to-EBITDA ratio to 9.8 times. The company has received covenant amendments from its banks to accommodate the temporarily higher ratio.

Meanwhile, its net finance costs more than tripled to $16.4 million on the back of rising interest rates, higher barley inventory costs, and the cost of barley required for its new Inverness facility. The Scottish facility officially kicked off production in late March.  

What did management say?

Commenting on the news seemingly bolstering the ASX 200 stock today, United Malt managing director and CEO Mark Palmquist said:

While the first quarter of FY23 included a continuation of the challenges experienced in the prior year, our financial performance improved markedly during the second quarter.

As we indicated previously, our gross margins have also improved from the progressive implementation of enhanced pricing and commercial terms with our customers which came into effect from 1 January.

We expect this rate of financial improvement to continue into the second half as our contracts better reflect our improved commercial terms.

What's next?

Looking forward, United Malt expected its underlying EBITDA to come in at $140 million to $160 million this financial year.

The ASX 200 stock will return dividends as its earnings improve. It continues to aim to distribute around 60% of its underlying net profit after tax (NPAT) to investors.

Meanwhile, Malteries Soufflet is continuing its due diligence. United Malt will keep investors in the loop on the prospective takeover.

United Malt stock outperforms the ASX 200

The United Malt share price has rocketed 26% since the start of 2023, compared to the ASX 200's 4% lift.

The stock is also trading 11% higher than it was this time last year while the ASX 200 has risen just 1% in that time.

The post This ASX 200 stock is gaining after its dividend was binned. Here are all the details appeared first on The Motley Fool Australia.

As you might expect, many ASX 200 shares are having top days today. In fact, there are at least seven that have just hit new 52-week highs. What a way to start the week.

So let's check out these new ASX 200 high watermarks.

Seven ASX 200 shares hitting new 52-week highs today

First up is United Malt Group Ltd (ASX: UMG) United Malt shares are currently enjoying a 0.95% bump to $4.80 a share. But this morning, this malt producer climbed as high as $4.87, which is the company's new 52-week high point. United Malt shares are now up a whopping 37.4% in 2023 year to date.

Next, we have Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH). Fisher & Paykel shares have had a bouncy day, spending time in both positive and negative territory. Right now, this ASX 200 healthcare share is up by 0.12% at $24.89 each.

But this morning, we saw this company head all the way past $25 to a new 52-week high of $25.02 a share. Year to date, Fisher & Paykel Healthcare is now up a pleasing 16.7%.

ASX 200 travel share Webjet Ltd (ASX: WEB) is also worth a gander today. It's been a long time since Webjet had any ASX news to share with investors. But that hasn't stopped this company from having a stellar start to 2023.

Today, the Webjet share price has soared another 3% to $7.25 a share a present, which is right on the company's new 52-week high. Webjet has now climbed 17.5% in 2023 so far.

Next, let's examine ASX 200 real estate company REA Group Ltd (ASX: REA). REA shares are also enjoying some time in the sun today. The owner of realestate.com has gained a decent 1.42% so far today to $140 a share, but went as high as $141.13 this morning, a new 52-week high. REA shares are now up a happy 28.8% in 2023 to date.

WiseTech Global Ltd (ASX: WTC) is our next ASX 200 share worth a look. This company has gained an impressive 2.75% so far this season to $66.93 at the time of writing. But we saw Wisetech climb as high as $67.25 a share this morning.

Not only is that a new 52-week high for the company, but an all-time high to boot. Wisetech Global shares are now basking in a year-to-date gain of 36%.

The best until last?

Telstra Corporation Ltd (ASX: TLS) is one of the most famous and widely held shares on the ASX 200. So many investors will be popping the champagne today with Telstra's new 52-week high. The telco closed at $4.22 a share last week but shot up to $4.24 just before midday today.

That's the new high watermark for the past 12 months that investors can boast of today. The Telstra share price is now up 6.8% in 2023 to date.

And finally, our next 52-week high to discuss comes from ASX 200 veteran Washington H. Soul Pattinson and Co Ltd (ASX: SOL). This investing house has been on fire of late, putting on a pleasing 5.4% over the past month alone.

This morning, Soul Patts notched up another 52-week high by climbing all the way to $30.63 a share. Right now, investors have cooled their jets a little, with Soul Patts at $30.34 a share. Even so, this ASX institution is now sitting on an 11.9% gain for 2023 so far.

The post 7 ASX 200 stocks smashing new 52-week highs on Monday appeared first on The Motley Fool Australia.

But that couldn't stop some ASX 200 shares from delivering very strong returns last month.

For example, the four shares listed below were the strongest performers on the index over the period. Here's why they smashed the market:

Liontown Resources Ltd (ASX: LTR)

The Liontown share price was the best performer on the ASX 200 in March with a stunning gain of 89.7%. This was driven by news that the lithium developer received and rejected a non-binding takeover proposal from industry giant Albemarle. Management labelled the offer as "opportunistic." So, with Liontown's shares now trading beyond Albemarle's $2.50 per share offer, it seems that investors are betting on an improved proposal being made in the near future.

United Malt Group Ltd (ASX: UMG)

The United Malt share price was on form and raced 33% higher last month. This was also driven by a takeover approach. However, on this occasion, the maltster was receptive of the approach and revealed that it would accept the $5.00 per share offer from rival Malteries Soufflet if it became binding.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price was a strong performer and rose 25.6% last month. Investors were buying the gold miner's shares after the price of the precious metal surged to almost US$2,000 an ounce. This was driven by increased demand for safe haven assets due to the banking crisis and optimism that interest rates won't rise as much as previously expected.

InvoCare Limited (ASX: IVC)

The InvoCare share price wasn't far behind with a gain of 24.4% in March. This funerals company was another takeover target, receiving an unsolicited, preliminary, non-binding indicative offer from private equity giant TPG. It offered to acquire 100% of InvoCare's issued shares for $12.65 cash per share. However, the company's board was not biting and informed TPG that its offer "does not provide compelling value for InvoCare shareholders."

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

The Liontown Resources Ltd (ASX: LTR) share price rocketed on news it had turned down a $5.5 billion takeover bid from international lithium giant Albemarle.

Many of the ASX 200 company's peers also leapt higher – bolstering the S&P/ASX 200 Materials Index (ASX: XJO) to gain 2.2%.

Meanwhile, a $1.5 billion takeover offer posed to United Malt Group Ltd (ASX: UMG) was better received. The maltster has entered an exclusivity deed with French suitor Malteries Soufflet.

Stock in the takeover target led the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) 0.4% higher today.

But it was the S&P/ASX 200 Energy Index (ASX: XEJ) that came in as today's top-performing sector, leaping 4.1%.

On the other hand, the S&P/ASX 200 Health Care Index (ASX: XHJ) underperformed all others, falling 0.9%.

But which share posted the index's biggest gain on Tuesday? Keep reading to find out.

Top 10 ASX 200 shares countdown

Surprise, surprise! Today's top-performing ASX 200 stock was, of course, Liontown.

The lithium hopeful's share price leapt a whopping 68.5% today to close at $2.57 following Albemarle's rejected $2.50 per share acquisition offer.

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.

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

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 8% to $6.77. Investors have been buying this mineral exploration company's shares after it released a mineral resource update. Chalice revealed that drilling and re-modelling have resulted in a ~50% increase in the contained nickel equivalent metal to approximately 3Mt. Impressively, this still only represents 7% of the Julimar Complex strike length.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 15% to 90 cents. This follows news that one of its ASX lithium peers has received a takeover proposal from an industry giant. Investors appear to see this as evidence that ASX lithium shares have been oversold.

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is up 63% to $2.49. As you might have guessed, this is the lithium share that has received a takeover approach. The lithium developer received a non-binding $2.50 per share offer from Albemarle (NYSE: ALB), which has been swiftly rejected by the Liontown board. This is the third approach the company has rejected.

United Malt Group Ltd (ASX: UMG)

The United Malt share price is up 31% to $4.51. This has also been driven by takeover news. However, on this occasion, the maltster is willing to accept the offer from French rival Malteries Soufflet if it becomes binding. It has tabled a $5.00 per share offer, valuing the company at $1.5 billion. This followed three previous offers that were rejected by United Malt.

The post Why Chalice Mining, Core Lithium, Liontown, and United Malt shares are racing higher appeared first on The Motley Fool Australia.

ASX energy stocks and materials stocks are leading the market today. The S&P/ASX 200 Energy Index (ASX: XEJ) is up 3.94% and the S&P/ASX 200 Materials Index (ASX: XMJ) is up 2.27%.

Among the best-performing ASX 200 shares are these three businesses hitting multi-year highs today.

Liontown Resources Ltd (ASX: LTR)

The leader among all ASX 200 shares today is lithium stock Liontown Resources, with its share price up 57.38% to $2.40. In earlier trading, the ASX 200 stock was up by more than 60% and hit an all-time record high of $2.45.

Liontown told the ASX the news today that it has received and rejected a takeover offer from global lithium giant Albemarle (NYSE: ALB).

This is Albermale's third attempt in six months to buy Liontown. It increased its offer price this time around to $2.50 per share. It offered Liontown $2.20 per share on 20 October 2022 and $2.35 per share on 3 March.

Liontown is among the 10 most shorted ASX shares, with 8.7% of its stock shorted by traders.

United Malt Group Ltd (ASX: UMG)

The United Malt Group share price is up by 31.25% at $4.515 per share. In earlier trading, the ASX 200 share hit a new 52-week high of $4.64 per share.

The maltster came out of a trading halt today, releasing its official response to a takeover proposal from French company Malteries Soufflet, which is the second-largest maltster in the world.

Malteries Soufflet is offering to acquire all United Malt Group shares for $5 per share in cash. That's 45% above the United Malt share price at Friday's close.

Brambles Limited (ASX: BXB)

The Brambles share price is currently up 0.07% to $13.51. In earlier trading, the ASX 200 share reached an all-time high of $13.65.

There is no official news relating to the ASX 200 share today. However, as my Fool colleague Tony reports, top broker Wilson's reckons Brambles offers the rare combination of defensive and growth characteristics.

Equity analyst Anna Milne said:

We do think the pricing momentum is going to continue. The focus on profitability is only going to grow over the coming year.

Given all the market volatility, it's around anything that's earning US dollars. So that's a watch for us, but operationally, Brambles is still a buy.

The post 3 ASX 200 shares cracking multi-year highs on Tuesday appeared first on The Motley Fool Australia.

Shares in the S&P/ASX 200 Index (ASX: XJO) maltster were placed in a voluntary trading halt yesterday, pending the company's response to a takeover proposal.

The United Malt share price closed on Friday at $3.44.

Here's what the company released on the takeover offer this morning.

What's happening with the takeover proposal?

The United Malt share price is flying higher after the company reported it's entered into a process and exclusivity deed with French maltster Malteries Soufflet.

Malteries Soufflet is the largest commercial maltster in Europe and the second-largest maltster in the world.

And Malteries Soufflet has submitted a conditional, non-binding, and indicative proposal to acquire all of United Malt's stock for $5.00 per share in cash. That's a heady 45% above the United Malt share price at Friday's close.

If United Malt pays out any dividends before the proposed transaction is completed, the $5.00 per share offer price will be adjusted accordingly.

With 299.18 million United Malt shares outstanding, the deal values the ASX 200 maltster at just under $1.5 billion. On Friday, the company's market cap was quoted at $1.01 billion.

United Malt today reported that Malteries Soufflet and its major shareholder, the InVivo Group, had previously approached it with unsolicited offers to combine the companies. United Malt provided them with limited non-public information on a confidential and non-exclusive basis.

Malteries Soufflet then submitted several confidential, non-binding, and indicative proposals to acquire all of United Malt shares.

On 16 December, Malteries Soufflet offered $4.15 in cash per share. On 6 February, it offered $4.50 in cash per share; on 8 March, it offered $4.90 in cash per share. Then, on 14 March, it submitted the indicative proposals, valuing the United Malt share price at $5.00.

United Malt has granted Malteries Soufflet the opportunity to conduct due diligence on an exclusive basis for a 10-week period.

Should Malteries Soufflet provide a binding proposal for at least $5.00 per share, the United Malt board said it would unanimously recommend shareholders vote in favour of the potential transaction, in the absence of a superior proposal.

United Malt shareholders do not need to take any action at this time, the company advises.

United Malt has also appointed Macquarie Capital as its financial adviser.

United Malt share price snapshot

As you can see in the chart below, today's big boost has put United Malt stock up 33% in 2023.

The post United Malt share price rockets 32% on $1.5 billion takeover approach appeared first on The Motley Fool Australia.

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

ASX 200 expected to rise

The Australian share market looks set to rise again on Tuesday following a solid start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 26 points or 0.4% higher. In late trade in the United States, the Dow Jones is up 0.8% and the S&P 500 is up 0.4%, but the NASDAQ is down 0.3%.

Oil prices jump

Energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a great day after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.2% to US$72.89 a barrel and the Brent crude oil price is up 4.1% to US$78.12 a barrel. Traders were buying oil amid a Kurdistan export halt and banking optimism.

Origin agrees takeover deal

The Origin Energy Ltd (ASX: ORG) share price will be on watch on Tuesday after the energy company accepted a takeover offer from a consortium comprising Brookfield Asset Management and MidOcean Energy. Origin has agreed to a revised deal of $5.78 per share and US$2.19 per share, which implies a total consideration of $8.912 per share. Elsewhere, United Malt Group Ltd (ASX: UMG) could return from a trading halt today with a takeover update of its own.

Gold price falls

It could be a poor day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price dropped overnight. According to CNBC, the spot gold price is down 1.3% to US$1,958.1 an ounce. Improving risk sentiment appears to have softened demand for the safe haven asset.

Dividend payday

A number of popular ASX 200 dividend shares will be rewarding their shareholders with their latest dividend payments on Tuesday. This includes health supplements company Blackmores Ltd (ASX: BKL), steel producer BlueScope Steel Limited (ASX: BKL), and conglomerate Wesfarmers Ltd (ASX: WES). The latter is paying a fully franked 88 cents per share interim dividend.

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

The share will remain frozen until it reveals the details of its apparent suitor and their bid or the market opens on Wednesday, whichever comes soonest.

The United Malt share price last traded at $3.44.

Let's take a closer look at what's going on with the ASX 200 consumer staples share this week.

ASX 200 share frozen amid takeover approach

The United Malt share price has been halted amid "a potential change of control transaction" involving the company.

And the suitor behind what appears to be a takeover bid? That's broadly reported to be European peer Malteries Soufflet.

Malteries Soufflet was itself acquired by agriculture group InVivo in 2021, with global investment firm KKR buying a significant minority stake alongside Bpifrance and Crédit Agricole Group around the same time.

United Malt became the world's fourth largest independent commercial maltster on demerging from GrainCorp Ltd (ASX: GNC) in 2020.

The demerger was intended to create shareholder value by splitting the two businesses into separate ASX 200 agribusiness companies.

However, the United Malt share price has disappointed since. The stock has fallen 16% since it listed. Though, it's jumped 21% since hitting an all-time low of $2.81 in October 2022.

As of Friday's close, the maltster boasts a market capitalisation of around $1 billion.

Goldman Sachs is advising the company's suitor while Macquarie provides advice to United Malt, according to reporting by the Australian Financial Review.

United Malt tipped financial year 2023 to bring a "material increase in earnings" on posting its full-year results in November 2022.

Its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 23.2% last fiscal year to $105.9 million. Meanwhile, its revenue lifted 13.9% to $1.4 billion on the back of higher barley prices.

United Malt share price snapshot

The United Malt share price has underperformed the ASX 200 in recent months.

The stock has fallen 1.4% since the start of 2023. It is also currently 9% lower than it was this time last year.

For comparison, the ASX 200 is trading flat year to date and has dropped 6% over the last 12 months.

The post Guess which ASX 200 stock is on ice following a takeover approach appeared first on The Motley Fool Australia.

It followed a worse fall on Wall Street overnight on the back of the United States Federal Reserve's latest rate hike – bumping interest rates in the nation by 0.25% to between 4.75% and 5%.

The Dow Jones Industrial Average Index (DJX: .DJI) dumped 1.6% amid the move, while the S&P 500 Index (SP: .INX) slumped 1.7%, and the Nasdaq Composite Index (NASDAQ: .IXIC) lost 1.6%.

Back on the ASX, the market rejoiced on earnings releases from ASX 200 staples Brickworks Limited (ASX: BKW) and Washington H Soul Pattinson and Co Ltd (ASX: SOL).

The only sector to post a notable gain was the S&P/ASX 200 Consumer Staples Index (ASX: XSJ), rising 0.1%. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) was the worst performer, falling 1.1%.

But which ASX 200 share outperformed all others on Thursday? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 share was United Malt Group Ltd (ASX: UMG) – gaining 5.5% to close at $3.44.

There was no price-sensitive news from the maltster today. Though, it did announce the commissioning of its Inverness malting facility has kicked off.

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.

United Malt shares hit a high of $3.75 today, up 5.6% amid investors reacting positively to news delivered at the annual general meeting (AGM).

The commercial maltster finished the session on Friday at $3.72, a gain of 4.79%.

The ASX 200 benchmark itself finished down 0.8% to 7,433.7 points.

So, what did the chair of United Malt Group tell shareholders today?

Dividends are back!

United Malt Group chair Graham Bradley AM told shareholders the company expected to recommence paying dividends in FY23.

The ASX 200 share did not pay a final dividend in FY22 due to the company's poor financial performance.

Bradley said:

Looking ahead, your Board expects a progressive recovery in earnings during FY23 and we expect
to resume dividend payments …

While certain challenges remain, several of these headwinds are expected to abate as FY23 progresses.

FY22 net profit after tax (NPAT) came in at $11.6 million, which was 20% down on FY21.

The company blamed resurgent COVID-19 impacts, a severe drought affecting the Canadian barley crop, significant disruption to ocean and rail supply chains, and increased freight and energy costs.

United Malt paid an interim dividend of 1.5 cents per share in FY22. This was equivalent to 40% of the full-year underlying NPAT.

This is well short of the company's dividend payout ratio of approximately 60%.

What is United Malt doing to improve its financial performance?

Bradley said the company was progressing with several initiatives to streamline operations and rejig contracts after "a challenging year" in FY22.

United Malt is progressively re-negotiating prices and improving commercial terms with its largest customers.

Bradley explained that this "will reduce our risk exposure to barley supply, quality and prices and to additional energy costs and freight surcharges".

He said the new pricing terms had been coming into effect since 1 January.

The impact "will flow through to our results from the second, third and fourth quarters of FY23".

He added:

Our first half FY23 results (which we will report in May) will, therefore, reflect a half year when we combine two very different quarters and we will seek to highlight the improvement in the second quarter.

What's the outlook for this ASX 200 share?

Bradley said the company expected "a further step-up in earnings in FY24".

He said the North American crops were good, and the company did not expect to see the same supply or quality problems it experienced in FY22.

He said sea freight and container rates and availability were better, and gas prices were moderating.

The company confirmed earlier guidance of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) (before SaaS costs) of $140 million to $160 million.

This compares with an FY22 EBITDA (before SaaS costs) of $105.9 million, down 23% on FY21.

A potential headwind in FY23 is the possibility of reduced beer demand due to inflation and fears of a recession. Bradley said the company is "carefully monitoring" this aspect.

The post Why this ASX 200 share smashed the market with a 5% rally today appeared first on The Motley Fool Australia.