The S&P/ASX 200 Index (ASX: XJO) has started the week in the red. The index slumped 0.21% on Monday to close at 7,133.6 points.

Fortunately, that was a relatively tame tumble compared to that posted by New York indices on Friday. The Dow Jones Industrial Average Index (DJX: .DJI) fell 0.8%, the S&P 500 Index (SP: .INX) slumped 1.1%, and the Nasdaq Composite Index (NASDAQ: .IXIC) dumped 1% amid recession concerns seemingly spurred by hawkish comments from US Federal Reserve officials.

Today also saw the ASX 200's latest quarterly rebalance take effect. Only two stocks were involved in the December shakeup. St Barbara Ltd (ASX: SBM) was booted from the iconic index, and replaced by Monadelphous Group Limited (ASX: MND).

The S&P/ASX 200 Energy Index (ASX: XEJ) and the S&P/ASX 200 Materials Index (ASX: XMJ) were today's top-performing sectors. They gained 0.5% and 0.4% respectively.

Meanwhile, the S&P/ASX 200 Utilities Index (ASX: XUJ), the S&P/ASX 200 Health Care Index (ASX:  XHJ), and the S&P/ASX 200 Real Estate Index (ASX: XRE) were among the worst performers. They dropped 0.8%, 0.8%, and 1.1% respectively.

But which ASX 200 share dodged today's carnage to post the strongest start to the week? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top performer was none other than Nickel Industries Ltd (ASX: NIC). Its stock rose around 5% despite the company's silence.

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.

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

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

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

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

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

Fundie buys up ASX energy shares

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

Tagdell said:

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

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

Bullish on Woodside and BHP Merger

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

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

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

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

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

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

What else is the fundie buying?

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

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

Tagdell said:

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

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

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

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

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

Despite posting a strong start to Monday's session, the S&P/ASX 200 Index (ASX: XJO) finished the day in the red. As of today's close, the index was down 0.17% at 7,139.3 points.

Leading the fall were many ASX 200 miners. The S&P/ASX 200 Materials Index (ASX: XMJ) closed Monday's session 1.5% lower with Fortescue Metals Group Limited (ASX: FMG)'s 3.8% fall weighing it down.

The tech sector also underperformed, with the S&P/ASX 200 Technology Index (ASX: XIJ) plunging 1.5%. Giants Block Inc (ASX: SQ2) and Xero Limited (ASX: XRO) were among its worst performers.

Though, not all was dire on the Aussie bourse today.

The S&P/ASX 200 Utilities Index (ASX: XUJ) led today's gains, surging 1.8% higher.

The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) also put out a decent gain, lifting 0.9%.

All in all, seven of the index's 11 sectors closed in the green on Monday. But which share rocketed higher to take out today's crown? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 stock was AGL Energy Limited (ASX: AGL). Interestingly, there's been no news from the company since the dramatic outcome of its annual general meeting (AGM) last week.

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.

The S&P/ASX 200 Index (ASX: XJO) recovered from Friday's 0.87% fall, and then some, today. The index closed 1.15% higher at 6,863.5 points.

It followed a strong Friday session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) lifted 2.6% to post its fourth consecutive weekly gain. Meanwhile, the S&P 500 Index (SP: .INX) rose 2.5% and the Nasdaq Composite Index (NASDAQ: .IXIC) gained 2.9%.

Such gains didn't rub off on all ASX 200 sectors today, however. The S&P/ASX 200 Energy Index (ASX: XEJ) slipped 0.4% amid falling oil prices.

The Brent crude oil price fell 1.2% to US$95.77 a barrel on Friday while the US Nymex crude oil price slipped 1.3% to US$87.90 a barrel.

On the other end of the market, the S&P/ASX 200 Information Technology Index (ASX: XIJ) jumped 2.6% despite broad expectations the Reserve Bank of Australia could hike rates by between 0.25% to 0.5% tomorrow.

Mining stocks also had a reasonable day, with the S&P/ASX 200 Materials Index (ASX: XMJ) gaining 0.1%.

All in all, 10 of the ASX 200's 11 sectors closed higher on Monday. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 share was Home Consortium Ltd (ASX: HMC). It gained close to 8% despite only silence from the property group on Monday.

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.

The S&P/ASX 200 Index (ASX: XJO) followed Wall Street into the red on Monday. The index closed 1.4% lower at 6,667.8 points.

Its tumble appeared to follow similar suffering on US markets on Friday after strong employment data stoked expectations of further rate hikes. The Dow Jones Industrial Average Index (DJX: .DJI) fell 2.1% on Friday, as the S&P 500 Index (SP: .INX) plunged 2.8%, and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) plummeted 3.8%.

Unsurprisingly, then, the S&P/ASX 200 Information Technology Index (ASX: XIJ) was one of the market's worst-performing sectors today, dumping 2.6%.

Interestingly, the S&P/ASX 200 Consumer Staples Index (ASX: CSJ) led the way, falling just 0.3%.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) fell 0.9% and the S&/ASX 200 Energy Index (ASX: XEJ) dumped 1.1% despite rising oil prices.

The Brent crude oil price lifted 3.7% to US$97.92 a barrel on Friday, while the US Nymex crude oil price gained 4.7% to US$92.64 a barrel.

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

Top 10 ASX 200 shares countdown

The Sims Ltd (ASX: SGM) share price topped the lot on Monday, gaining 2.2%. That's despite no news having been released by the metal recycling company.

Today's biggest gains were made by these shares:

Our top 10 ASX 200 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 have failed to follow the market higher today are listed below. Here's why they are dropping:

Chorus Ltd (ASX: CNU)

The Chorus share price is down 2% to $6.93. This has been driven by the New Zealand based telecommunications company's shares trading ex-dividend this morning. Eligible shareholders can expect to receive a 16.1 cents per share dividend next month on 11 October.

MA Financial Group Ltd (ASX: MAF)

The MA Financial share price has crashed 20% to $4.05. This was despite there being no news out of the financial company formerly known as Moelis. However, it has responded this afternoon, explaining why it thinks its shares were sold off. It commented: "We note comments made in the media about the potential outcome of the Federal Government's review into the immigration system and its visa programmes including the Significant Investor Visa (SIV)."

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 5% to $1.30. Reports that Potentia is trying to gain support for its $1.27 per share takeover offer appear to be weighing on this payments company's shares. Investors appear to have been betting on a better offer being made, but that is looking less likely based on current speculation.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 8% to $7.97. This is despite there being no news out of the lithium developer. However, it is worth noting that a number of lithium shares are under pressure on Monday. This could be due to profit taking after some strong gains in recent weeks.

The post Why Chorus, MA Financial, Tyro, and Vulcan Energy shares are dropping appeared first on The Motley Fool Australia.

We've seen a number of companies in the S&P/ASX 200 Index (ASX: XJO) turn ex-dividend this week.

And this streak is only set to continue as more ASX 200 shares take away entitlements to their upcoming dividend payments.

On Monday, three ASX 200 shares are set to turn ex-dividend. This means that today will be the final day to lock in recently-declared dividends from these ASX 200 shares. Let's check them out.

Chorus Ltd (ASX: CNU)

To kick things off, Chorus shares will be trading on Monday without an unfranked final dividend of 21 NZ cents.

Shareholders electing not to participate in the company's dividend reinvestment plan (DRP) should see this payment come through on 11 October.

The ASX 200 telco share saw continued growth in demand for fibre broadband in FY22. This helped underlying revenue climb by NZ$4 million to NZ$959 million.

Meanwhile, the company's cost management initiatives partly mitigated inflationary and COVID pressures. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by NZ$3 million to NZ$660 million.

As a result, the company noted it returned to earning more than it was investing in the network for the first time in a decade.

This helped Chorus declare total dividends of 35 NZ cents, up 40% from the prior year. 

What's more, the company has increased its FY23 dividend guidance to 42.5 NZ cents per share. It's also guiding for minimum total dividends of 47.5 NZ cents per share in FY24.

Based on the company's FY23 dividend guidance, Chorus shares are currently trading on a forward dividend yield of 5.4%.

HUB24 Ltd (ASX: HUB)

ASX 200 financials share HUB24 will also be going ex-dividend on Monday, trading without a fully franked final dividend of 12.5 cents.

Investors who own HUB24 shares by the time the market closes today can pencil in a payment date of 14 October. 

The independent specialist platform provider noted it achieved record levels of organic growth in FY22. 

Combined with acquisitive growth from the addition of formerly ASX-listed Class, HUB24 grew revenue by 76% to $190 million.

On the bottom line, underlying net profit after tax (NPAT) surged by 133% to $36 million.

Importantly, the company continued to carve out more market share across the year, increasing its share from 3.9% to 5.1%.

This record performance saw HUB24 double its total dividends in FY22 to 20 cents per share, fully franked.

As a result, HUB24 shares are currently printing a trailing dividend yield of 0.9%, which grosses up to 1.2%.

Perseus Mining Limited (ASX: PRU)

Rounding out this trio of ASX 200 shares going ex-dividend on Monday is gold miner Perseus.

Today will be the last day to lock in Perseus' unfranked final dividend of 1.64 cents, which will be paid on 12 October.

The ASX 200 gold miner delivered a record performance in FY22. Revenue surged by 66% to $1.1 billion while NPAT doubled to $280 million.

This result was underpinned by a 50% increase in gold production to 494,014 ounces (oz), a 6% reduction in all-in sustaining costs which came in at US$952/oz, and a stable average gold sales price of US$1,683/oz.

On the back of this record performance, Perseus declared a bonus dividend of 0.79 cents, which is included in the final dividend. Total dividends in FY22 arrived at 2.45 cents.

This put Perseus shares on a trailing dividend yield of 1.5% at the end of the financial year, ahead of the company's target annual yield of at least 1%.

The post Here are 3 ASX 200 shares going ex-dividend on Monday appeared first on The Motley Fool Australia.

Ask A Fund Manager

The Motley Fool chats with the best in the industry so that you can get an insight into how the professionals think. In this edition, SG Hiscock portfolio manager Hamish Tadgell explains why he'd currently buy three particular ASX shares.

Hottest ASX shares

The Motley Fool: So having said the investment environment has permanently changed in 2022, what are the three best stock buys right now?

Hamish Tadgell: We're bottom-up investors at the end of the day. Our three best ideas coming out of reporting season would be, one, Cooper Energy Ltd (ASX: COE). 

It's an east coast gas producer, well positioned I think to participate in the current structural shortfall in east coast gas, and particularly in Victoria and the energy transition to a lower carbon economy. 

It's had a difficult couple of years with the commissioning of a gas plant — the sole gas plant — which AGL Energy Limited (ASX: AGL) operated for them down in Gippsland. [It] has seen the company not meet its production targets, but we think that's turning the corner. Recently they've taken control of that gas plant. [Cooper] bought it off AGL, and ramping up production, and there's a series of catalysts that we see over the coming 12 months, which I think positions that company very well for a strong re-rating.

MF: For an energy company, the share price hasn't lit the world on fire this year, has it? But that gives it upside?

HT: The backdrop is incredibly attractive. The thematic is incredibly attractive. Now east coast gas prices 12 months ago were probably at $6 to $8. They're now $10 to $15, and we don't see them coming back in a hurry. 

More to the point, we think that Cooper's going to have a lot more gas to sell over the next 12 months than they did the last 12 months as a result of fixing some of the plant problems that they've had.

MF: Your second ASX share to buy?

HT: The second one would be Chorus Ltd (ASX: CNU), which is the NBN equivalent, if you like, in New Zealand. It's a virtual monopoly operating the New Zealand fibre network. It's got some 88% or close to 90% of the fibre market in New Zealand. 

It's clearly benefiting from the strong continuing demand for data and streaming, which was only reconfirmed through COVID and with people working from home and watching more Netflix Inc and all those sorts of things — the demand has been increasing for those services. 

More importantly, the stock's moving from building out the network and the pretty high CapEx over the last four or five years, to [now] becoming an operating asset.

So the CapEx hump, if you like, dropped significantly this year, and we see very strong free cash flow for this stock starting to emerge over this year and the next number of years — and a growing dividend. 

When you look at it, it's trading on a free cash flow yield of 8% to 9% on nine times EV to EBITDA. Look at some similar assets. This is a social infrastructure asset, a high-quality asset. Unity Group, which was recently bought by private equity, sold around 20 times EV to EBITDA. And then I look at something like Transurban Group (ASX: TCL), which again, is a high-quality social infrastructure asset, perhaps a little less regulatory risk, but it trades on 23.5 times. 

[Chorus] trading on nine… looks incredibly cheap to us for what I think will be a very strong, free cash flow and good dividend growing stock over the next number of years.

MF: And your last pick?

HT: I'd say Qube Holdings Ltd (ASX: QUB). It's Australia's largest integrated provider of import, export logistics. And these are highly strategic assets with very strong, sustainable, competitive advantage, long-term contracts and importantly, pricing power, which I think will be increasingly important in the inflationary environment we're in. 

It's proved actually to be a remarkably resilient business over the last 12 months. Its results just last month just showed that despite COVID, inflation, extreme weather events, supply chain disruption, labour issues, and China lockdowns, it's still produced very resilient earnings and growth. 

And more to the point, with the company having recently sold, over the last 12 months, sold out of Moorebank. So it was developing a big industrial park up in New South Wales, and a lot of people were concerned that it was really a property play and they'd overstretched their balance sheet a bit, and concerned about the debt levels. Well, they sold that, returned quite a bit of that capital to shareholders, but also paid down quite a bit of their debt. 

We see them incredibly well positioned to continue to grow over the next couple of years. At the end of the day, Australia is an island — it's dependent upon imports and exports, and this company's the largest provider of those services. And we think it's an incredibly well-managed business, very well diversified, and it's got some good strong growth prospects over the next few years.

MF: It also gives out a dividend, doesn't it?

HT: Yeah, it does. It's not a high dividend — it's probably only 2% or 3% yield, but it's really a growth stock. 

It's, in our mind, a GDP+ type business. The diversification… it's in every part of the economy: retail, mining, agriculture, you think about anything basically that comes in or goes out of Australia, they handle it. So it's a real proxy for the economy, but also [has] been a very good allocator of capital over time and made some very good bolt-on acquisitions.

The post 'Incredibly cheap': Fundie reveals 3 ASX shares he'd buy right now appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) had a rough start to the week, but plenty of shares managed to buck its downwards trend. The Index closed Monday's session 0.95% lower at 7,046.90 points.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) came in as the ASX 200's worst performing sector, falling 1.9% as Star Entertainment Group Ltd (ASX: SGR) released its full-year earnings.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) also fell 1.5% following a dire Friday on Wall Street that saw the Nasdaq Composite Index (NASDAQ: .IXIC) slump 2%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) slipped 0.9% despite rising oil prices and a strong gain from Ampol Ltd (ASX: ALD). The company dropped its half-year earnings today.

The Brent crude oil price rose 0.1% to US$96.72 a barrel on Friday while the US Nymex crude oil price lifted 0.3% to US$90.77 a barrel.

All in all, none of the ASX 200's 11 sectors finished Monday's session in the green.

Still, a few outliners recorded notable gains. Let's take a look at today's top performing ASX 200 share.

Top 10 ASX 200 shares countdown

Today's top performing ASX 200 share was – drum roll please – NIB Holdings Limited (ASX: NHF). The stock lifted 7% after the company dropped its full-year earnings.

Coming in second place was EML Payments Ltd (ASX: EML) on the back of – you guessed it – the release of its earnings, as well as news of an on-market share buyback.

Today's biggest gains were made by these ASX shares:

Our top 10 ASX 200 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 Chorus Ltd (ASX: CNU) share price is lifting 2% higher in morning trade following the release of its FY22 results.

At the time of writing, Chorus shares are swapping hands at $7.13 apiece.

Chorus lifts revenue, earnings in FY22

Key takeouts from the 12 months include:

• Reported revenue came in at $965 million, up from $955 million the year prior
• Earnings before interest and tax (EBIT) of $248 million, up from a FY21 result of $230 million
• Net profit after tax (NPAT) of $64 million ahead of the previous year's $51 million
• Chorus' fibre rollout reportedly now 98% completed
• Declared FY22 dividend of 35 cents per share

What else happened during this period for Chorus?

The company added over 88,000 connections, bringing its total to now sit at 959,000 connections.

Operating expenses came in relatively flat at $299 million which led to underlying EBITDA of $660 million and EBIT of $248 million.

Chorus brought this down to an NPAT of $64 million, a substantial gain from last year's bottom-line result.

The performance was a turnaround for Chorus, with the company returning to "earning more than it was investing in the network for the first time in a decade".

This permitted management to authorise a 35 cents per share dividend in FY22, and increased guidance for the FY23 and FY24 dividends' respectively.

Management commentary

Speaking on the announcement, Chorus CEO, JB Rousselot said:

FY22 was a crossroads year for Chorus with the core elements of our utility-style regulatory framework now settled and the finish line in sight for our 11-year fibre rollout. Our fibre rollout is now 98% complete, and we have just 17,000 premises left to pass by Christmas. We added 88,000 new fibre connections to the network, and overall uptake increased from 65% to 69%.

We were pleased to see strong growth in our major centres of Auckland and Wellington, where uptake increased to 79% and 68%, respectively. During the pandemic, our digital inclusion initiatives focused on student broadband connections, helping seniors with their connected lives, and supporting the charitable sector to embrace digital tools.

What's next for Chorus?

The company expects the following ranges of guidance, per the release:

• EBITDA: $655–$675 million
• Capital expenditure: $410–$450 million
• FY23 dividend: increased to 42.5 cents per share
• FY24 dividend guidance: a minimum of 47.5 cents per share

The Chorus share price is up more than 6% in the past 12 months.

The post Chorus share price lifts as company declares 35 cents per share dividend appeared first on The Motley Fool Australia.

Within the index of top 500 stocks, three ASX All Ordinaries shares have notched up new 52-week highs today.

This ASX All Ordinaries share just hit more than 9-year highs

The first ASX All Ordinaries share hitting more than one-year highs today is Silex Systems Ltd (ASX: SLX).

The technology company is focused on commercialising its laser enrichment technology for uranium production and enrichment for nuclear power, as well as silicon enrichment for silicon quantum computing applications.

Although it slipped into the red in afternoon trade, the Silex share price traded for $3.54 in morning trade. That's the highest level since November 2012.

The most recent price-sensitive news released by the company came out last Wednesday regarding its Zero-Spin Silicon project.

As my Fool colleague Brooke Cooper reported at the time, "A stage 3 demonstration plant has been constructed to verify the commercial production capability for the quantum computing material."

Also trading at 52-week plus highs

Chorus Ltd (ASX: CNU) is another ASX All Ordinaries share notching up 52-week plus highs with no fresh news out in the markets.

Earlier today the New Zealand based telecommunications infrastructure company hit $7.16 per share, the highest price since March 2021.

That gives the company a market cap of some $3.2 billion.

And rounding off the list of ASX All Ordinaries shares hitting one-year plus highs today we have Neuren Pharmaceuticals Ltd (ASX: NEU), which also hit the new milestone without releasing any new price-sensitive news today.

The biopharmaceutical company is up 2.2% at the time of writing and traded as high as $5.25 during the lunch hour. That's the highest price shareholders will have realised since November 2007.

The post 3 ASX All Ordinaries shares hitting new 52-week highs on Wednesday appeared first on The Motley Fool Australia.

By mid-morning, the ASX 200 had fallen around 0.80% to 7,160 points. But by the close of trade, the ASX 200 ended the day up 0.16% to 7,234 points. From the day's low, there was a gain of 1.1%.

Russia optimism

Readers are probably aware of the military build-up in Eastern Europe by Russia with an invasion seemingly possible any day now.

The US President Joe Biden has said he is convinced that Russian President Vladimir Putin had decided to invade Ukraine. Russia has repeatedly denied that it was going to invade Ukraine.

But countries like the USA and Germany have warned of severe sanctions and economic consequences for Russia if it does go ahead with an operation.

So, what's the optimism?

Today, it was reported that US President Joe Biden has agreed in principle to hold a meeting to discuss what's going on with Ukraine. This was proposed by France. But the talks will only go ahead if Russia does not invade Ukraine.

However, the US still believes that Russia is preparing for a large attack very soon. Maxar satellite images show "multiple new field deployments of armoured equipment and troops from Russian garrisons near the border with Ukraine, indicating increased military readiness."

How some ASX 200 shares ended the day

Share prices changes at the big end of the ASX were relatively small.

The BHP Group Ltd (ASX: BHP) share price went up 0.6%, whilst the Commonwealth Bank of Australia (ASX: CBA) share price rose 0.35%. The CSL Limited (ASX: CSL) share price dropped 0.75%.

However, there were a few pieces of news that may have helped drive some businesses higher.

The A2 Milk Company Ltd (ASX: A2M) share price jumped 11% after reporting its FY22 half-year result, with a promising outlook.

A (rejected) takeover approach sent the AGL Energy Ltd (ASX: AGL) share price up 10.6%.

Alcohol retailer and hotels business Endeavour Group Ltd (ASX: EDV) saw its share price jump profit growth in the first half of FY22.

The Chorus Ltd (ASX: CNU) share price rose almost 10% after reporting its result as well.

The post ASX 200 shares stage comeback amid Russia optimism appeared first on The Motley Fool Australia.

In response to its half year results, the New Zealand-based telco's shares jumped 10% to $6.86.

Chorus share price jumps on solid half year update

• Operating revenue up 1% to NZ$483 million
• EBITDA up 5.8% to NZ$347 million
• Net profit after tax jumped 56% to NZ$42 million
• Interim dividend of 14 NZ cents per share
• NZ$150 million share buyback

What happened during the half?

For the six months ended 31 December, Chorus reported a modest 1% increase in revenue to NZ$483 million. Management advised that this was primarily due to gains from its ongoing network optimisation programme.

Things were even better for its earnings, with Chorus' EBITDA rising 5.8% to NZ$347 million and its net profit after tax jumping 56% to NZ$42 million.

In light of this strong performance, management has upgraded its full year EBITDA guidance to the range of NZ$665 million to NZ$685 million. This compares to its previous guidance range of NZ$640 million to NZ$660 million.

But that's not the only thing the company upgraded. Management has also lifted its FY 2022 dividend guidance to 35 cents per share from 26 cents per share. After which, the company expects to pay dividends of at least 40 cents per share in FY 2023 and 45 cents per share in FY 2024.

And the good news doesn't stop there. Also getting investors excited and boosting the Chorus share price is news that the company plans to return NZ$150 million to shareholders via a share buyback.

Management commentary

Chorus' CEO, JB Rousselot, was pleased with the company's performance and particularly the continued broadband growth in fibre areas.

He said: "The continued growth in fibre demand is a testament to the reliability fibre broadband is delivering through the challenges of the ongoing COVID pandemic. We saw the lockdowns and other public restrictions in the first-half ramp up the average data usage on fibre to new record highs of more than 600 gigabytes per month."

"Our fibre rollout is now close to completion with just 30,000 or so premises left to pass. More than 1.3 million homes and businesses have fibre at their doorstep; of these 67 per cent have now chosen to connect. During the first half of the year, we saw fibre connections grow by 47,000 to 918,000, and we're on track to achieve our target of one million fibre connections by the end of the year."

In respect to its dividend, Mr Rousselot notes that with Chorus on the cusp of becoming free cash flow positive and beginning to earn more than it is investing in the network, it has been able to update its dividend guidance for the next three years.

The post Chorus (ASX:CNU) share price jumps 10% today amid guidance upgrade and NZ$150m buyback 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:

Chorus Ltd (ASX: CNU)

The Chorus share price is down 3% to $6.50. This follows the release of the New Zealand Commerce Commission's final decision on its new fibre regulatory regime. The Commission has determined a regulated asset base of NZ$5.425 billion, compared to NZ$5.427 billion in its August draft decision.

CSL Limited (ASX: CSL)

The CSL share price has tumbled 8% to $272.90. This follows the completion of the biotherapeutics giant's institutional placement. CSL raised US$4.5 billion (A$6.3 billion) at an 8.2% discount of A$273.00 per new share following strong support from existing shareholders and new investors. The proceeds will support the acquisition of Vifor Pharma for US$12.3 billion (A$17.2 billion).

Qantas Airways Limited (ASX: QAN)

The Qantas share price is down almost 2% to $4.78. This morning the airline operator released a market update which revealed that it expects to post a loss of $1.1 billion during the first half. Qantas' CEO, Alan Joyce, revealed that that Qantas has faced "one of the worst halves of the entire pandemic." Qantas also warned that its costs would increase in the second half as its employees return to work.

Sims Ltd (ASX: SGM)

The Sims share price has dropped 2.5% to $15.06. Investors have been selling the metals recycling company's shares despite it announcing an acquisition this morning. Sims has agreed to acquire the assets of United States-based metal recycler, Atlantic Recycling Group for US$37 million plus working capital adjustments. This implies an EV/EBITDA multiple of 4.2x on a pre-synergies basis.

The post Why Chorus, CSL, Qantas, and Sims shares are dropping 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:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down over 2.5% to $122.94. This follows a pullback in the Square share price on Friday night after weakness in the US tech sector. As Square's takeover of Afterpay is being made in shares, any fluctuations in the Square share price impacts the value of the offer.

Chorus Ltd (ASX: CNU)

The Chorus share price has fallen 2% to $6.46. The catalyst for this decline has been the New Zealand based telco's shares trading ex-dividend this morning for its 13.9 cents per share final dividend. Eligible shareholders can now look forward to being paid this dividend next month on 12 October.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 1.5% to $28.05. Investors have been selling this banking giant's shares after it was downgraded by analysts at Credit Suisse. According to the note, the broker has downgraded the bank's shares to a neutral rating with a $28.50 price target. The broker made the move largely on valuation grounds after a strong gain.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price has continued its slide and is down a further 5% to $3.57. Investors continue to sell this litigation funder's shares since the release of an update on the Brisbane Flood class action last week. Unfortunately for Omni Bridgeway, the Supreme Court of New South Wales Court of Appeal has found the remaining defendant not liable.

The post Why Afterpay, Chorus, NAB, & Omni Bridgeway shares are dropping 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 fall

The Australian share market looks set to fall on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% lower this morning. This follows a very disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.8%, the S&P 500 drop 0.8%, and the Nasdaq tumble 0.9%. Economic uncertainty led to the Dow recording five consecutive daily declines last week.

Oil prices storm higher

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a strong start to the week after oil prices stormed higher on Friday night. According to Bloomberg, the WTI crude oil price is up 2.3% to US$69.72 a barrel and the Brent crude oil price has risen 2.1% to US$72.92 a barrel. Traders were buying oil on tight US supplies.

Shares going ex-dividend

A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes NZ telco Chorus Ltd (ASX: CNU), healthcare company Healius Ltd (ASX: HLS), and investment platform provider HUB24 Ltd (ASX: HUB).

Gold price falls

Australian gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price dropped on Friday night despite weakness on Wall Street. According to CNBC, the spot gold price fell 0.45% to US$1,792.1 an ounce. Uncertainty over the US Fed's tapering timeline was weighing on the precious metal.

Telstra named as a buy

The Telstra Corporation Ltd (ASX: TLS) share price could be in the buy zone ahead of its strategy day this week. This morning Goldman Sachs reiterated its buy rating and lifted its price target to $4.40. Goldman advised: "Strategically we expect a continuation of the current strategy (simplicity and customer focus, network leadership and improved efficiency) but with a tilt towards growth (such as Energy, Health, FWA, Enterprise 5G)."

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

The Australian telecommunication landscape is dominated by Telstra Corporation Ltd (ASX: TLS), but there are a host of smaller players listed on the ASX that are making their mark on the industry.

The August earnings season gave investors the opportunity to examine the performance of not just Telstra, but ASX telecommunication shares including TPG Telecom Ltd (ASX: TPG), Spark New Zealand Ltd (ASX: SPK), and Chorus Limited (ASX: CNU). 

How have ASX telecommunications shares performed against the market?

Telstra shares have performed strongly this year. The Telstra share price is up 28% year to date, compared to 12.5% for the All Ordinaries Index (ASX: XAO) over the same period.

Shares in Spark are up just 0.73% for the year, trading slightly below levels last seen pre-COVID. The TPG share price, on the other hand, is currently down 6% since January. Similarly, the Chorus share price has fallen 9.2% in 2021. 

Who are the telco winners this earnings season? 

Telstra announced it had reached a turning point in its financial performance and outlook in FY21.

The telecommunications giant delivered results in line with guidance and is projecting earnings growth in FY22. Telstra says it is building financial momentum. It reported strong performance in its mobile business, green shoots in certain growth businesses, and a diminishing impact from the NBN.

Total income decreased 11.6% to $23.1 billion and reported EBITDA decreased 14.2% to $7.6 billion in FY21. Profits, however, increased 3.4% to $1.9 billion.

Shareholders will receive a fully franked final dividend of 8 cents per share, consisting of an ordinary dividend of 5 cents and a special dividend of 3 cents, This brings total dividends for the year to 16 cents per share. 

Telstra is three years into a four-year transformation strategy. The company says it is on track or has delivered around 80% of its targets.

"We have transformed Telstra to become a simpler, more digitally enabled and leaner business," CEO Andrew Penn said.

The company is undergoing a restructure which involves the separation and sale of InfraCo Towers. Up to $1.35 billion of the proceeds will be returned to shareholders in FY22 via an on-market share buyback.

According to Penn, this is a clear demonstration of how the company is creating additional long-term value for shareholders. The remainder of the proceeds from the transaction will be used for debt reduction to ensure Telstra maintains balance sheet strength and flexibility. 

Spark New Zealand reported its half-year results last month which revealed a decline in revenue driven by a loss of roaming revenues. Nonetheless, the phone and internet provider managed to deliver earnings growth at the top end of the guidance range thanks to disciplined costs management.

Revenue declined 0.8% to $3,953 million but Spark New Zealand's earnings grew 1% to $1,124 million. Higher depreciation and amortisation costs and an increase in tax expenses drove a decline in profits, with NPAT falling 8.6% to $384 million. Mobile service revenue grew 0.5%, but the broadband market saw a revenue decline of 1.3% due to continued competitive pressure and slower overall market growth.

Although the New Zealand economic recovery has been stronger than expected, closed international borders are impacting Spark New Zealand through the loss of roaming revenues and lower overall growth in some markets. 

And the losers?

Chorus was another telecommunications provider that experienced a drop in revenue due to softer market conditions. Together with competition from other fibre and wireless networks, this resulted in a $12 million drop in revenue compared to FY20.

Chorus' earnings, however, increased marginally at $649 million compared to $648 million in FY20. This was thanks to tight management of costs and the absence of once-off COVID-19 costs incurred in FY20. Chorus boasted 871,000 active fibre connections at the end of the financial year, up from 751,000 the year before. This is well on the way to Chorus' target of 1 million connections next year. 

The TPG share price dipped on the release of the company's half-year results last month, which revealed an 8% drop in profits. This was impacted by the fact that HY20 profits benefitted from a one-off accounting credit.

The HY21 results reveal the full impact of the Vodafone TPG merger, as the HY20 results only had four days' contribution from TPG Corporation. Reported revenue increased 71% from HY20 to $2.63 billion while TPG's earnings increased 67% to $886 million. The merger synergy program is on track and delivered $38 million in cost synergies during HY21 as part of its $70 million synergy target for 2021. 

What is the outlook for ASX telecommunication shares?

Telstra is predicting a return to growth for its underlying business in FY22. The company has provided full-year guidance for income of $21.6 — $23.6 billion and earnings of $7.0 — $7.3 billion.

The company is continuing to progress the proposed corporate restructure of its organisation, which involves the creation of separate subsidiaries. The restructure is expected to be undertaken by way of a scheme of arrangement, for which shareholder approval should be sought before the end of the year. 

Spark New Zealand has significant infrastructure investments planned for FY22. An additional $25 million is being invested to accelerate the 5G rollout. This will support the company in delivering 90% population coverage by the end of calendar 2023. Spark New Zealand is also exploring shared ownership models for 'passive' components of its mobile network and fibre. Discussions are ongoing in this regard and there is no certainty any transaction will proceed. 

TPG's key strategic focuses for the second half of the year are bringing more fixed customers onto its own infrastructure, improving mobile performance, and achieving its merger cost synergy target. It is on track to reach 85% 5G population coverage in 10 of Australia's largest cities and regions by the end of 2021, supporting future growth in mobile and home wireless. 

Chorus has provided guidance for FY22 earnings of $640 million — $660 million, with total dividends of 26 cents per share. The company is transitioning to a new dividend policy based on a majority pay-out range of free cash flow.

The dividend is temporarily constrained by high capital expenditure related to ultra-fast broadband, however Chorus expects to provide further detail on the dividend outlook in February 2022. 

The post How have ASX telecommunication shares performed during the August 2021 earnings season? appeared first on The Motley Fool Australia.

Thankfully, not all shares dropped with the market. Here's why these were the best performers on the ASX 200 last week:

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price was the best performer on the ASX 200 last week with a gain of 17.5%. Investors were buying the healthcare technology company's shares following the release of a solid full year result. In FY 2021, Pro Medicus reported a 19.5% increase in revenue to $67.9 million and a 33.7% jump in net profit after tax to $30.9 million. Strong demand for its technology from major healthcare institutions has been driving its growth. The Pro Medicus share price is now up 93% year to date.

Kogan.com Ltd (ASX: KGN)

The Kogan share price wasn't far behind with a gain of 15.1%. This is despite there being no news out of the ecommerce company. However, with one of its peers releasing a strong result, investors may be expecting something similar next week from Kogan. That peer was Redbubble Ltd (ASX: RBL), which reported a 58% revenue increase to $553 million. And thanks to operating leverage, Redbubble swung from a loss of $9 million in FY 2020 to a profit of $31 million in FY 2021.

Chorus Ltd (ASX: CNU)

The Chorus share price was on form and jumped 12% over the five days. This followed the release of the NZ Commerce Commission's draft regulatory asset base (RAB) decision for its fibre business. The draft decision values Chorus' fibre network at NZ$5.427 billion. This is important as the value of the network is a key building block in determining the revenues Chorus can earn over the first three years of the new regulatory regime starting 1 January.

Domain Holdings Australia Ltd (ASX: DHG)

The Domain share price was a strong performer and rose 11.1% last week. This was driven by the release of the property listings company's full year results. For the 12 months ended 30 June, Domain reported a 66% increase in net profit to $37.9 million. Domain also revealed that its unique digital audience increased to a record of more than 9 million during the year. This went down well with UBS, which upgraded its shares to a buy rating with an improved price target of $5.70.

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

Today, the S&P/ASX 200 Index (ASX: XJO) fell for its fourth consecutive session. The benchmark index finished down 0.49% to 7,465.5 points. Weighing down the Aussie index on Thursday were the big iron ore miners, such as BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Ltd (ASX: FMG) — both falling more than 5%.

However, as always, the question is: which shares from the top 200 delivered the most green on the ASX today? Here are the ten stocks that delivered gains while the broader market was red:

Top 10 ASX 200 shares countdown today

Looking at the top 200 listed companies, Chorus Ltd (ASX: CNU) was the biggest gainer today. Shares in the New Zealand telco increased 14.16% after announcing the verdict of the New Zealand Commerce Commission on its regulated fibre business. Find out more about Chorus here.

The next best performing ASX share out of the top 200 today was Contact Energy Ltd (ASX: CEN). The energy company's shares climbed 8.43% to $7.85 despite no announcements. Uncover the latest Contact Energy information here.

Today's top 10 biggest gains were made in these ASX shares:

Our top 10 ASX shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays 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 Chorus Ltd (ASX: CNU) share price has soared into the green in afternoon trade on Thursday.

Whereas the S&P/ASX 200 Index (ASX: XJO) is 0.56% in the red, Chorus shares are now exchanging hands at $6.83 apiece, a 13% climb from the open.

Today's gain comes after the New Zealand-based telecommunications infrastructure group provided an announcement earlier. Let's investigate further.

What did Chorus announce?

Chorus advised that New Zealand's Commerce Commission has proposed an "initial regulated asset base (RAB) of $5.427 billion" in regards to Chorus' regulated fibre business.

The Commerce Commission is New Zealand's equivalent to the Australian Securities and Exchange Commission (ASIC).

Recall that in March, Chorus proposed a "conservative starting RAB of $5.5 billion" on its fibre business.

The Commission then used this RAB value to determine its price-quality decision for the "first regulatory period of fibre" back in May.

The decision referenced an annual revenue range of $689 million to $786 million through 2022 to 2024. From the numbers, the Commission's RAB value is around 1.4% behind Chorus' $5.5 billion proposal.

Chorus then made submissions on the draft price-quality decision back in July. It submitted "strong evidence to support changes" to the proposed reductions in allowable operating expenditure.

Under the draft decision announced today, the RAB would commence in January 2022. Chorus stated the Commission's draft RAB contains "core fibre assets of $3.98 billion", alongside a "financial loss asset" of around $1.5 billion.

Moreover, the commission noted in its decision that if "all other aspects" of its decision remain unchanged, then it would "lead to a 2–5% reduction in allowable revenue over the PQP1 period".

The Commission is expected to give its final decision on the RAB in December, as per the release.

What did management say?

Chorus CEO JB Rousselot said:

We welcome this step towards greater certainty for Chorus and our investors. Our aim is to ensure the final RAB reflects the full costs of structural separation required by the public-private partnership with the Government.

We've used a lot of our existing infrastructure and spent billions more to roll out the fibre network over the last decade. It's critical that the true value of our participation in this partnership is recognised so we can keep investing in developing the capability and reliability of fibre broadband for New Zealand.

Chorus share price snapshot

The Chorus share price has had a difficult year to date, posting a loss of 7% since January 1. It has also fallen 5% in the past 12 months.

As a result, these returns have lagged the broad index's return of around 25% over the past year.

The post Why the Chorus (ASX:CNU) share price is rocketing 13% on Thursday appeared first on The Motley Fool Australia.