A number of ASX 200 shares are scheduled to trade ex-dividend on Wednesday.

This means that today is the final day for investors to buy these shares if they want to receive their upcoming dividend payments.

The following ASX 200 shares are going ex-dividend tomorrow:

Breville Group Ltd (ASX: BRG)

Last month, this appliance manufacturer released its half-year results and declared a 15 cents per share fully franked interim dividend. This will be paid to eligible shareholders later this month on 27 March. Interestingly, Breville's chair, Lawrence Myers, just loaded up on the company's shares prior to them trading ex-dividend. He snapped up 30,000 shares on-market for a total consideration of approximately $578,000.

Eagers Automotive Ltd (ASX: APE)

This auto retailer giant had another strong year in FY 2022. This allowed the company to declare a record fully franked final dividend of 49 cents per share last month. This is scheduled to be paid at the very end of the month on 31 March.

Inghams Group Ltd (ASX: ING)

Things haven't been going as well for this poultry producer. Last month, it was forced to slash its fully franked interim dividend by 30% to 4.5 cents per share. This will be paid to eligible shareholders on 6 April.

TPG Telecom Ltd (ASX: TPG)

This telco giant was on form in FY 2022 and delivered a solid full-year result last month. This meant that TPG was able to increase its fully franked final dividend by almost 6% to 9 cents per share. This is scheduled to be paid to its shareholders next month on 13 April.

The post 4 ASX 200 shares trading ex-dividend on Wednesday appeared first on The Motley Fool Australia.

It's been a wild journey for TPG Telecom Ltd (ASX: TPG) shares over the past few years. Acquisitions, court hearings, and attempted deals with their biggest competitor. If the telecommunications industry was your thing, you could almost make a movie from the twists and turns that TPG has traversed in recent times.

Once upon a time, I was a shareholder in TPG — impressed with its rise to prominence in a competitive market. The company held a spot in my portfolio for close to four years, commencing in April 2017.

I decided to sell out of my holding completely once all the dust settled on its merger with Vodafone. At that point, TPG was at the largest, and arguably, most competitive position in its history.

What was the thinking behind this decision?

Where it began

To understand why I eventually hit sell on my TPG shares, I need to explain why I originally invested in the underdog.

At the time, I was still green in terms of my investing experience. As with most newcomers, the speculative neck of the woods is where curiosity first led me.

However, I soon got a taste for value-orientated companies. Businesses that were proven, profitable, and showed promise for delivering shareholder returns exceeding that of the S&P/ASX 200 Index (ASX: XJO).

In my search, I stumbled upon a company I had heard of before, TPG. My partner — who lived in Sydney back then — was a TPG customer. She opted for NBN internet with them over the other big names, such as Telstra Group Ltd (ASX: TLS) and Optus, due to their cheaper pricing.

To my excitement, I found that TPG — despite undercutting its competition — was growing its net profits after tax (NPAT) at an incredible rate. Earnings were $207.5 million at the end of the first half of FY17. Comparatively, the company's first-half NPAT was $90.1 million only three years prior, as shown below.

In my eyes, here was a company that could deliver a competitive service at a cheaper price thanks to its growing participation in industry consolidation. Additionally, word on the street then was that TPG had plans to expand its successful campaign against the incumbents in the 5G mobile market.

It ticked my boxes: a history of a proven strategy, signs of competitive advantage, room for further growth, and an invested CEO steering the ship (founder David Teoh).

Why I sold my TPG shares

Fundamentally, the unravelling of my original investment thesis is what prompted me to sell my TPG shares in April 2021 for $6.10 apiece.

Firstly, the telecom provider's plans of delivering a low-cost 5G mobile network began to crumble in 2019 amid a ban on Huawei infrastructure. The China-made devices were intended to underpin TPG's competitive small-cell network.

Fortunately, TPG has managed to still tap into the opportunity through the merger with Vodafone Hutchinson Australia. However, I was concerned that Vodafone might come with some unwelcomed baggage given a series of $100 million-plus losses prior to the deal.

Furthermore, the entrepreneurial spark of David Teoh was extinguished on 26 March 2021 when the founder decided to resign.

Simply put, most of the factors that played into my justification for buying were now gone — or at minimum, far murkier than before. Feeling unconfident, it seemed only reasonable to sell my TPG shares and reassess my options.

Time to take another look?

Including dividends, TPG delivered a 15.2% total return over my holding period. Since selling, shares in the telco giant have netted a 12% loss after dividends.

I'm not going to claim that I knew the share price was going to fall, because I didn't. I was more at odds with the likelihood of TPG shares outperforming the Aussie benchmark over the next five years.

When I sold, I was not convinced that this Aussie internet provider could unlock enough value to beat an equal investment in something like a Vanguard Australian Shares Index ETF (ASX: VAS).

Credit where it is due, TPG has been growing its earnings and dividends while keeping debt under control, as pictured above. As a result, shares in the company now offer a respectable dividend yield of 3.6% at a 65% payout ratio.

If the second-largest internet provider is able to continue to steadily grow earnings by chipping away at the market share of Telstra and Optus, I'd consider making a spot for TPG shares in my portfolio again.

However, the competitive pressures from new retail service providers and emerging low Earth-orbiting (LEO) satellites leave me with reservations.

In conclusion, I believe I made a reasonable investment decision at the time. As famed investor Peter Lynch once said, "Know what you own, and know why you own it."

Following the changes at TPG, I personally no longer knew a solid reason for owning a piece of the company.

The post Was I dumb to sell my TPG shares? appeared first on The Motley Fool Australia.

Reporting season is mercifully coming to an end this week.

If you're overwhelmed by all the financial figures, Morgans analyst Andrew Tang has helpfully picked out the best buys based on the latest results announcements.

Here are four of those ASX shares to consider adding to your portfolio:

'Positive earnings momentum is obvious'

TPG Telecom Ltd (ASX: TPG) shares have had a rough time since the company was born out of a merger between Vodafone Australia and TPG.

Since that first day on the ASX in July 2020, the stock price has dropped more than 42%.

But Tang was pleased with the latest report.

"TPG FY22 result was, pleasingly, in line with expectations," Tang said on the Morgans blog.

"Revenue was up 1.5% year-on-year and underlying EBITDA (excluding the gain on tower sales and restructuring costs) was up ~4% year-on-year to $1,793 million."

As well as hitting Morgans' target for the financial year just gone, the future was also positive.

"FY23 guidance is ~3% ahead of consensus," said Tang.

"This was the first time since merging that positive earnings momentum is obvious across the group."

Morgans thus has an add rating on TPG shares.

This business is 'now through the worst'

On the other hand, food and drinks producer Bega Cheese Ltd (ASX: BGA)'s fortunes were downbeat in the latest results.

"BGA's 1H23 result was weak with net profit after tax [NPAT] down 74%," said Tang.

"Margins (especially in the 1Q) were materially impacted by higher milk and other inflationary costs and the lag impact of implementing price rises (didn't take effect until the 2Q)."

The 2023 financial year earnings outlook was downgraded to the lower end of the previously flagged range.

"Rising interest rates will further impact NPAT. We have made large cuts to our forecasts."

Despite all this doom and gloom, Tang has upgraded the stock to a buy.

"While we continue to have concerns about the dairy industry, we think Bega is now through the worst of it," Tang said.

"With low double-digit price rises, further efficiencies, synergy realisation and asset sales, BGA expects a much improved result in FY24."

Tang's team highly rates Bega's new leadership team, expecting it to "deliver improved returns over the coming years".

Bega shares are down more than 26% over the past 12 months.

Economic slowdown is a worry, but this stock is still a buy

Like many technology stocks, online task marketplace Airtasker Ltd (ASX: ART) has seen its shares devastated in recent times.

The stock price has lost a painful 62% over the past year.

Tang felt the latest results showed the business is heading in the right direction.

"Gross merchandise volume growth of +58% on prior comparable period (to ~$132 million) and revenue growth of +57% on prior comparable period (to ~$22 million) was a resilient performance from the local services marketplace, in our view."

There was "some softness" seen on posted tasks due to the slowing economy, admitted Tang.

"We note supply side normalisation (labour) has begun and assisted completion rates and helped underpin Airtasker's GMV growth."

The Morgans team has thus lowered its future expectations, but still rates Airtasker as a buy.

2022 was all the hard work, now sit back for 2023

Petrol station real estate owner Waypoint REIT Ltd (ASX: WPR) reported results that met Tang's expectations, due to its focus last year on selling "non-core assets", capital management, and balance sheet clean-up.

"The portfolio is valued at $2.9 billion across +400 properties with metrics stable," he said.

"Revaluations saw cap rates expand 16 basis points over 2022. Net tangible assets at $3.02."

This compares to Waypoint's share price closing Tuesday at $2.73.

Tang's team sees this year as one of consolidation rather than reform.

"After two years of steady asset sales (~15% of portfolio), 2023 is expected to be less active."

The main feature of any real estate trust, the dividend yield, is expected to remain attractive.

"CY23 distributable EPS guidance to be in line with CY22 which equates to a distribution yield of +6%."

The post 4 ASX shares to grab now after boom results: expert appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) started the week out on the wrong foot, falling 1.12% to close at 7,224.8 points.

And it was the giant S&P/ASX 200 Materials Index (ASX: XMJ) that weighed heaviest. It fell 3.15% following a rough Friday session for commodity prices.

Gold futures price dropped 0.5% to US$1,817.10 an ounce on Friday and iron ore futures dumped 0.1% to US$125.85 a tonne. At the same time, copper futures dumped 2.7% and aluminium futures tumbled 2%.

But not all commodities suffered. The S&P/ASX 200 Energy Index (ASX: XEJ) jumped 0.25% on the back of stronger oil prices.

Brent crude oil and US Nymex crude oil each lifted 1.2% to US$83.16 a barrel and US$76.32 a barrel respectively on Friday.

Looking at today's earnings releases, the Downer EDI Ltd (ASX: DOW) share price plummeted 24% on lower profits and a guidance downgrade, while today's top performer also posted earnings this morning. Let's take a look at how it performed in 2022.

Top 10 ASX 200 shares countdown

TPG Telecom Ltd (ASX: TPG) shares outperformed all other ASX 200 stocks today after the company revealed a 354% increase in full-year profits, coming in at $513 million.

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 have not let that hold them back are listed below. Here's why they are racing higher:

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 4% to $3.56. This follows the release of the ecommerce company's half-year results. Although Kogan's result was very disappointing, investors appear pleased with its trading update. It achieved a return to operating profit in January, which some investors seem to believe suggests that the worst is now behind the company.

Praemium Ltd (ASX: PPS)

The Praemium share price is up almost 7% to 78 cents. This morning, this investment platform provider released its half-year results and reported a 17% increase in revenue to $35.4 million and a 52% jump in EBITDA to $11.4 million. This was underpinned by a 6% lift in funds under administration to $42.7 billion and margin improvements.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is up 5% to $4.96. Investors have been buying this telco's shares following the release of its full-year results. TPG posted a 1.5% increase in revenue to $4.4 billion and a 354% jump in net profit after tax to $513 million. A key driver of the result was its mobile business, which reported a 300,000 increase in subscribers to 5.28 million.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 8% to a 52-week high of $7.42. This follows the release of a roadshow presentation from the semiconductor company. While the company has made a lot of progress with its product development, it has yet to demonstrate that there is sufficient demand for its technology to command a $1.3 billion market valuation. Buyers will be hoping this doesn't turn out to be another meme stock that ultimately crashes and burns.

The post Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher appeared first on The Motley Fool Australia.

The TPG Telecom Ltd (ASX: TPG) share price is in the green on Monday after the company released its full-year earnings.

Shares in the S&P/ASX 200 Index (ASX: XJO) telecommunications provider are currently up 2.22%, trading at $4.825.

TPG share price launches as earnings and dividend bolstered

Here are the key takeaways from the telco's 2022 earnings:

• $4.4 billion of revenue – a 1.5% jump on that of the prior comparable period (pcp)
• $2.1 billion of earnings before interest, tax, depreciation, and amortisation (EBITDA) – a 23.6% increase
• Excluding an accounting gain on the sale of tower assets, EBITDA grew 3.8% to $1.8 billion
• $513 million of net profit after tax (NPAT) – a 354% jump on the pcp
• Excluding customer base amortisation and gains from the sale of tower assets, NPAT was down 1% to $222 million
• 9 cents per share fully franked final dividend declared – a 6% year on year increase

What else happened in 2022?

TPG saw plenty of growth last half, welcoming 300,000 new mobile subscribers – ending the year with 5.28 billion mobile customers – and continuing its 5G rollout faster than expected.

Its average revenue per user also grew 1.9% to $32.40 a month, boosted by higher international roaming levels.

TPG Telecom boasted 2.22 million of fixed customer subscribers at the end of 2022 – flat with the prior year, while its fixed wireless subscribers more than doubled to 171,000.

Looking at its enterprise, government, and wholesale leg, major customer wins included Hungry Jacks, Lifeline, and Freedom Furniture. It booked more than $150 million of total contract value in 2022.

It also delivered $140 million of annualised cost synergies from the 2020 merger of Vodafone Hutchinson Australia and TPG Corporation, offsetting inflationary pressures.

What did management say?

TPG CEO and managing director Iñaki Berroeta commented on the results driving the company's share price today, saying:

These results reflect solid execution of our strategy as we benefited from renewed customer activity throughout 2022. The operational and strategic foundations we have put in place are translating to an improving financial performance, which we expect to gather momentum through 2023.

The ACCC decision not to authorise [a proposed] network sharing agreement was a significant loss for regional Australia and for consumers and businesses. TPG Telecom and Telstra Group Ltd (ASX: TLS) are challenging the decision through the Australian Competition Tribunal.

What's next?

TPG expects to post between $1.85 billion and $1.95 billion of EBITDA for financial year 2023.

That assumes no material change in operating conditions and excludes material one-offs and transformation costs.

TPG share price snapshot

Sadly, today's gains haven't yet proven enough to push the stock back into the longer-term green.

The TPG share price has risen 1% since the start of 2023. Though, it's down 12% over the last 12 months.

For comparison, the ASX 200 has gained 4% year to date and 3% over the last 12 months.

The post TPG share price takes off as full-year profit soars 350% appeared first on The Motley Fool Australia.

The Contact fund managers believe that investor sentiment domestically remains "too negative". They noted that economic uncertainty is not new – there's "always something to worry about and the bear case is often easier to believe."

Higher interest rates are creating "headwinds" for valuations and consumer sentiment, but Contact also pointed to several positive signals including:

• Unemployment at record lows, a "critically important metric"
• Earnings expectations have "moderated significantly", particularly in consumer-facing industries where consensus forecasts now expect a significant reduction in year over year growth
• Cash positions remain above average for a lot of investors, which would help in a market decline

The fund manager thinks that investing in quality businesses for the long term will continue to do well. Contact believes that market multiples are not "excessive by historical standards", particularly in the S&P/ASX Small Ordinaries Index (ASX: XSO) which suffered in 2022.

With that in mind, there were three ASX 200 shares that it pointed to in its latest monthly update.

Ampol Ltd (ASX: ALD)

Ampol describes itself as the nation's leader in transport fuels. It was previously called Caltex Australia. It supplies the country's largest branded petrol and convenience network (with 1,900 branded sites, including around 690 company-operated retail sites), as well as refining, importing and marketing fuels and lubricants. Across its retail network, it serves approximately 3 million customers each week.

It also has a growing presence in New Zealand as the owner of Z Energy Limited. It sells approximately 40% of all fuel volumes across the country. Ampol also owns a 20% equity stake in Seaoil, a fuel company in the Philippines.

Contact said that Ampol recently reported a "solid" quarterly update, which highlighted the "continued improvement in retail shop and fuels profitability". It continues to generate "sound refining margins" as well.

The fund manager said that Ampol is trading on a single-digit price/earnings (P/E) ratio multiple and a fairly high dividend yield. The investment team believe it's "attractively priced".

Deterra Royalties Ltd (ASX: DRR)

Deterra owns royalties, with its key exposure being to iron ore which relies on the BHP Group Ltd (ASX: BHP) mining area C (MAC) royalty. Deterra receives an ongoing royalty of 1.232% of Australian free on board (FOB) revenue from the MAC royalty. Plus, it receives extra revenue for increased annual mine production above a certain level.

Contact said that the ASX 200 share is benefiting from strong iron ore prices, despite the production of mining area C being marginally below expectations.

The fund manager pointed out that Deterra generates "outstanding" returns on capital and offers a "compelling income stream"

TPG Telecom Ltd (ASX: TPG)

TPG is a telco that owns a number of brands including TPG, Vodafone Australia and iiNet.

Contact pointed out that Vodafone Australia announced price increases for its mobile plans.

The fund manager noted that the ASX 200 share's lowest-priced plan had increased by 13% to $45 per month with no additional data.

The investment team also said that the mobile market is now "more rational and operators are delivering average revenue per user (ARPU)". Contact said this bodes well for earnings stability.

The post 3 ASX 200 shares that this fund manager loves at these prices appeared first on The Motley Fool Australia.

After coming tantalisingly close to its all-time high on Friday, the S&P/ASX 200 Index (ASX: XJO) likely disappointed many market watchers by starting the week in the red. The index fell 0.25% today to close at 7,539 points.

Its biggest weight? The S&P/ASX 200 Real Estate Index (ASX: XRE).

The sector fell 1.95% on the eve of the Reserve Bank of Australia's (RBA's) February meeting where it's expected to hike rates once more following last month's unexpectedly stubborn inflation data.

Interestingly, however, the S&P/ASX 200 Energy Index (ASX: XEJ) was today's best-performing sector, rising 0.9% despite lower oil prices.

The price of Brent crude dropped 2.7% on Friday to close the week 7.8% lower at US$79.94 a barrel, while US Nymex crude oil fell 3.3% on Friday, marking a 7.9% week-on-week fall that saw it end at US$73.39 a barrel.

But it wasn't an energy stock that topped the lot today. Let's take a look at the 10 ASX 200 shares posting the biggest gains on Monday.

Top 10 ASX 200 shares countdown

Starting the week out on the best foot was gold mining giant Newcrest Mining Ltd (ASX: NCM).

Its share price soared 9% to close at $24.53 amid a takeover offer from world leader Newmont Corporation (NYSE: NEM).

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.

An ASX 200 dividend stock with a five or ten-year streak of raising their dividends is usually a good sign that you've found a quality income stock. But an ASX 200 dividend stock with a 20-year-plus streak? That's ASX dividend royalty.

That's exactly what the Washington H. Soul Pattinson Co Ltd (ASX: SOL) share price has on offer for income investors today.

Why Soul Patts is a quality ASX 200 dividend stock

I already own Soul Patts shares – in fact, the company is one of my top ASX holdings. But I plan to add far more of this would-be ASX dividend aristocrat to my portfolio in 2023, if the pricing allows it.

I would go one step further and argue that if I had to own just one ASX 200 dividend stock in my portfolio, this would be it.

But let's backtrack a little and get into the weeds of what makes this company such a special ASX dividend share.

So Soul Patts is one of the oldest companies on the ASX 200. It first put down roots way back in 1872, but become the company we know today in 1903. Its first calling was pharmacies, but today, Soul Patts is a bit of a hard company to pigeonhole.

Its primary business is owning large stakes in other investments for the benefit of its shareholders. In this way, it arguably functions closer to a listed investment company (LIC) or a managed fund rather than the typical kinds of companies we see on the ASX.

Soul Patts invests prudently in a large and diversified portfolio of assets. These include a portfolio of blue-chip shares gained in the LIC Milton Corporation acquisition in 2021. But it also includes its large, strategic investments in a handful of ASX shares. 

For example, Soul Patts owns 12.6% of TPG Telecom Ltd (ASX: TPG), 39.9% of New Hope Corporation Limited (ASX: NHC) and 43.3% of Brickworks Limited (ASX: BKW).

The company also owns a stable of unlisted assets, which includes assets ranging from industrial property to swim schools.

An ASX dividend aristocrat?

This diversified investment portfolio has given Soul Patts the unique distinction of being able to fund annual dividend increases every single year since the year 2000. That's throughout both the global financial crisis of 2007-2009, as well as the COVID pandemic.

This is an ASX dividend record unmatched on the ASX 200 or, indeed, on the entire ASX. It's the closest thing the ASX has to a United States-style 'dividend aristocrat', which is a US share that has increased its dividends every year for 25 years.

Back in December last year, Soul Patts announced during its annual general meeting that its total shareholder return (share price gains and dividends) came to an average of 12.5% per annum over the 20 years to 30 November 2022.

That was a good 3.4% per annum above what the ASX All Ordinaries Accumulation Index had achieved over the same period.

So, in conclusion, this is an ASX 200 dividend stock I will never own enough of. I can't wait to add to my position in 2023. If there's a compelling price point, I'll be loading the boat with this top-notch company.

The post 20+ years of growing dividends. Why I plan to buy more of this ASX 200 stock in 2023 appeared first on The Motley Fool Australia.

Reopened borders have been useful for names like Qantas Airways Limited (ASX: QAN), IDP Education Ltd (ASX: IEL), and Auckland International Airport Limited (ASX: AIA).

But, interestingly, the telcos could also benefit from a return of visitors.

Tourists to boost telco profit?

According to reporting by the Australian Financial Review, analysts are suggesting that telcos will benefit from growing travel and migration.

More people in the country using telecommunication services, such as tourists using their phones, could boost the earnings and the share prices of Telstra and TPG.

The AFR quoted JPMorgan analyst Mark Busuttil who said:

Prior to COVID-19, mobile subscriber growth was outpacing population … [but] during the pandemic, the total number of mobile subscribers declined: subscriptions numbers [from company reports] declined 2 per cent in FY21 on flat population growth.

We believe there is still some growth to come from international travel.

Mobile subscriptions per person peaked in 2018; therefore, population growth will be the biggest driver of subscriber gains over the longer term. Beyond FY24, when we expect travel to have fully recovered, we have linked our subscriber forecasts to population growth.

We see postpaid services growing to two-thirds of Australian mobile subscriptions by the end of the decade.

In the near term, we expect Telstra to leverage the company's 5G and network leadership position as well as the Optus data breach to grow its number of postpaid subscribers.

While TPG (Vodafone) has the most identifiable international brand which benefits mobile subscribers as international travel returns, the company's key deficiency, which is network quality, remains.

TPG is lagging behind in the 5G race…which will cause a noticeable speed difference between TPG and the competition.

Valuations and dividend yields

I think it's worthwhile looking at the forecasts for both the FY23 and FY24 numbers.

The Telstra share price is valued at 24 times FY23's estimated earnings and 22 times FY24's estimated earnings, according to projections on Commsec.

With the telco starting to grow its dividend to investors, it could offer an FY23 grossed-up dividend yield of 5.9% and 6.3% for FY24.

Meanwhile, the TPG share price is valued at 35 times FY23's estimated earnings and 24 times FY24's estimated earnings.

TPG could pay a grossed-up dividend yield of 5.5% in FY23 and 6.4% in FY24.

The post Why TPG and Telstra shares could get a big profit boost in 2023 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) soared to its highest point in nine months on Thursday, peaking at 7439.7 points before slipping slightly to close 0.57% higher at 7,435.3 points.

That was despite a poor session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.8% on Wednesday overseas, while the S&P 500 Index (SP: .INX) dropped 1.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slipped 1.2%.

Back home, mining shares led the market higher, with the S&P/ASX 200 Materials Index (ASX: XMJ) rising 1%, driven by iron ore giants and lithium favourites.

The S&P/ASX 200 Health Care Index (ASX: XHJ) also outperformed, gaining 0.9%.

Meanwhile, an 4.7% gain from Viva Energy Group Ltd (ASX: VEA) wasn't enough to stop the S&P/ASX 200 Energy Index (ASX: XEJ) from falling 0.7% alongside oil prices. The black liquid's value slipped around 1% overnight.

So, with all that covered, let's take a look at the 10 shares outperforming all others on Thursday.

Top 10 ASX 200 shares countdown

Shares in Nanosonics Ltd (ASX: NAN) posted the ASX 200's biggest gain today, soaring 8% to close at $5.12.

The company dropped exciting earnings for the first half of financial year 2023 this morning, detailing a 35% jump in revenue and a 39% lift in profits.

These shares made today's biggest gains:

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

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

It was the final session before Christmas, and all through the bourse, ASX shares tumbled. The S&P/ASX 200 Index (ASX: XJO) plummeted 0.63% on Friday to close the week at 7,107.7 points. That marks a 0.57% week on week fall.

Today's slump followed a similarly dire session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1%, the S&P 500 Index (SP: .INX) dropped 1.5%, and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) plunged 2.2% amid the release of positive economic data.

The United States' gross domestic product rose to an annual rate of 3.2% in the third quarter, according to the third estimate from the Bureau of Economic Analysis. The findings sparked fears of further rate hikes, Reuters reports.

It's probably no surprise then that the rate-sensitive S&P/ASX 200 Information Technology Index (ASX: XIJ) led today's downturn. It fell 1.6% with Novonix Ltd (ASX: NVX) coming in as its worst performer.

The S&P/ASX 200 Energy Index (ASX: XEJ) also plunged 1.1% on the back of a rough night for oil prices. Meanwhile, the S&P/ASX 200 Utilities Index (ASX: XUJ) outperformed all other sectors, gaining 0.2%.

Fortunately, however, not all ASX 200 shares were caught up in the sell off.

Top 10 ASX 200 shares countdown

The index's top performing share today was TPG Telecom Ltd (ASX: TPG). Its gains came amid a bullish brokers note tipping it to gain another 11% to trade at $5.50.

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.

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

AGL Energy Limited (ASX: AGL)

The AGL share price is up 1% to $8.23. Investors have been buying this energy company's shares despite there being no news out of it. However, given the market selloff today, safe haven assets like utilities could be in demand with investors.

Retail Food Group Ltd (ASX: RFG)

The Retail Food Group share price is up 10% to 7.6 cents. This morning, this embattled quick service restaurant operator revealed that it has settled its ACCC proceeding. The Donut King, Gloria Jean's, and Michel Patisserie's operator has agreed to pay $8 million to settle.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 1% to 52 cents. This follows news that the drug developer has received a $7.1 million research and development (R&D) tax incentive refund under the Australian Federal Government's R&D Tax Incentive scheme.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is up 2% to $4.89. Investors have been buying this telco's shares following the release of a bullish broker note out of Morgans this morning. According to the note, the broker has upgraded TPG's shares to an add rating with a $5.50 price target. The broker said: "We think the bad news is now priced in and see value at current levels. We upgrade TPG to an Add recommendation (from Hold)." TPG's shares are still down 17% year to date.

The post Why AGL, Retail Food Group, Starpharma, and TPG shares are rising today appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

Liontown Resources Ltd (ASX: LTR)

According to a note out of Macquarie, its analysts have retained their outperform rating and $3.40 price target on this lithium developer's shares. This follows news that the company has signed a binding power purchase agreement with Zenith Energy. The broker believes this is a positive outcome for the company and remains positive on the outlook of the Kathleen Valley project. The Liontown share price is trading at $1.26 on Friday.

Mineral Resources Ltd (ASX: MIN)

A note out of Morgans reveals that its analysts have initiated coverage on this mining and mining services company's shares with an add rating and $94.00 price target. The broker is a fan of Mineral Resources due to its transformation from being primarily leveraged to high-cost/shortlife iron ore operations to low-cost/long-life iron ore and lithium assets. The Mineral Resources share price is fetching $79.30 today.

TPG Telecom Ltd (ASX: TPG)

Analysts at Morgans have upgraded this telco's shares to an add rating with a $5.50 price target. Morgans made the move on the belief that recent share price weakness has created a buying opportunity for investors. Although it was disappointed to see the Telstra Corporation Ltd (ASX: TLS) blocked by the ACCC, its analysts believe the bad news is now priced in. Furthermore, the broker highlights that the Optus hack this year is likely to be a positive for TPG. The TPG share price is trading at $4.83 on Friday.

The post Brokers name 3 ASX shares to buy for Christmas appeared first on The Motley Fool Australia.

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

ASX 200 expected to sink

The Australian share market looks set to end the week in the red after a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 99 points or 1.4% lower this morning. In late trade in the United States, the Dow Jones is down 1.9%, the S&P 500 has sunk 2.4%, and the Nasdaq has crashed 3.1%. Interest rate hike concerns weighed on the market after some strong economic data.

Oil prices tumble

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a bad finish to the week after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 1.15% to US$77.38 a barrel and the Brent crude oil price is down 1.55% to US$80.84 a barrel. Recession fears weighed on global markets.

Blackmores rated neutral

The Blackmores Ltd (ASX: BKL) share price could be fully valued according to analysts at Goldman Sachs. This morning, the broker has retained its neutral rating with a trimmed $75.80 price target. It said: "Despite the opportunity for longer term growth remaining significant, we believe the current share price captures the risk/reward profile of this investment."

Gold price falls

Gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a poor finish to the week after the gold price fell overnight. According to CNBC, the spot gold price is down 1.7% to US$1,794.6 an ounce. Traders were selling gold after US economic data supported the US Federal Reserve's rate hike plans.

TPG shares upgraded

The TPG Telecom Ltd (ASX: TPG) share price could be a buy according to analysts at Morgans. After recent weakness, its analysts believe value has emerged and that investors should be taking advantage. It said: "We think the bad news is now priced in and see value at current levels. We upgrade TPG to an Add recommendation (from Hold)." Morgans has a $5.50 price target on TPG's shares.

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

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

BWX Ltd (ASX: BWX)

The BWX share price is down a further 12% to a new low of 26 cents. Investors have been abandoning the Sukin skincare manufacturer after the release of a shocking business update. BWX has admitted to channel stuffing activities and revealed a growing mountain of debt. As things stand, BWX is going to breach its debt covenants in January if they are not waived. And don't be surprised if class action lawyers are circling the company.

Novonix Ltd (ASX: NVX)

The Novonix share price is down over 6% to a 52-week low of $1.59. This morning, the battery materials technology company appeared to downgrade and delay its production guidance. As of late October, Novonix was on track for synthetic graphite anode materials production of 10,000 tonnes per annum (tpa) in 2023. It now expects to begin production at a rate of approximately 3,000 tpa in 2024, before ramping up to approximately 12,000 tpa in 2028.

Symbio Holdings Ltd (ASX: SYM)

The Symbio share price has crashed 34% to $1.68. Investors have been selling this voice communications software provider's shares after it downgraded its FY 2023 earnings guidance. Symbio now expects FY 2023 EBITDA to be between $26 million and $30 million, which represents a 25% downgrade based on the mid-point of its guidance ranges. Management advised that the company's Communications Platform-as-a-Service (CPaaS) division has been impacted by returns and slow sales progress.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is down 3.5% to $4.61. This has been driven by news that the ACCC has blocked its proposed regional mobile network arrangements with Telstra Group Ltd (ASX: TLS). The competition watchdog believes the "arrangements will likely lead to less competition in the longer term and leave Australian mobile users worse off over time, in terms of price and regional coverage." Telstra has since announced plans to appeal the decision.

The post Why BWX, Novonix, Symbio, and TPG shares are dropping today appeared first on The Motley Fool Australia.

In morning trade, the telco giant's shares are down 0.5% to $4.02.

This compares unfavourably to the ASX 200 index, which is up 1% in early trade.

Why is the Telstra share price falling?

The Telstra share price is underperforming today after the Australian Competition and Consumer Commission (ACCC) blocked the company's proposed regional mobile network arrangements with rival TPG Telecom Ltd (ASX: TPG).

Earlier this year, Telstra and TPG signed a ground-breaking ten-year regional Multi-Operator Core Network (MOCN) commercial agreement.

Under the deal, TPG would gain access to around 3,700 of Telstra's mobile network assets, increasing TPG Telecom's current 4G coverage from around 96% to 98.8% of the population. Whereas Telstra would gain access to TPG's spectrum across 4G and 5G, which will allow it to grow its network and increase capacity.

Telstra estimated that the deal would deliver between $1.6 billion and $1.8 billion of revenue over the initial 10-year term.

ACCC says no

Unfortunately, the deal has been vetoed by the ACCC.

The competition watchdog notes that under the statutory test, it must not grant authorisation unless it is satisfied the proposed arrangements would not be likely to substantially lessen competition, or that the likely public benefits from the arrangements would outweigh the likely public detriments.

However, after an extensive public consultation and investigatory process, it is not satisfied under either of these tests and therefore cannot grant authorisation.

The ACCC's commissioner, Liza Carver, explained that mobile networks are incredibly important and any reduction in competition could negatively impact customers. And while she saw some benefits from the proposed agreement, they were outweighed by competition concerns. She said:

We examined the proposed arrangements in considerable detail. While there are some benefits, it is our view that the proposed arrangements will likely lead to less competition in the longer term and leave Australian mobile users worse off over time, in terms of price and regional coverage.

Mobile networks are of critical importance to many aspects of our lives, including our livelihood, our wellbeing and our ability to keep in touch with friends and family. Any reduction in competition will have very wide-ranging impacts on customers, including higher prices and reduced quality and coverage.

The TPG share price is currently down 2% on the news.

The post Telstra share price lower after ACCC blocks TPG deal appeared first on The Motley Fool Australia.

According to reporting by The Australian, the Australian Competition and Consumer Commission (ACCC) will, three days before Christmas, hand down its final determination on the Telstra and TPG agreement.

Preliminary views

The ACCC released its Statement of Preliminary Views at the end of September 2022.

It said a number of things including:

The ACCC considers that a healthy secondary market for spectrum licences allows spectrum to move to its highest value use and allows for the deployment of new and innovative services over time. This includes situations in which the ACMA (Australian Communications and Media Authority) has imposed allocation limits on the auction of a band on the advice of the ACCC.

However, the ACCC is concerned that very concentrated holdings of spectrum create a disincentive for incumbent licensees to dispose of licences surplus to their technical or commercial requirements and create an incentive to 'lock up' this scarce resource. The ACCC is considering the ways in which the proposed transaction increases the concentration of spectrum holdings through the third-party authorisation, and the impacts this may have over the longer term on industry structure.

Optus suggests that there will be "considerable public detriment flowing from a lessening of price tension in the mobile market as a consequence of TPG's prices being dictated by access costs set by Telstra."

What are Telstra and TPG actually trying to do?

The deal could affect both Telstra shares and TPG shares.

If approved, Telstra would "obtain much of TPG's mobile spectrum" in outer-suburban and regional areas, where approximately 17% of Australians live. Telstra will also obtain 169 of TPG's mobile sites in that area.

TPG would shut down its remaining 556 mobile sites in those areas and acquire mobile network services from Telstra for mobile coverage.

Telstra said that this deal would provide "significant value to Telstra's wholesale mobile revenue, while providing TPG Telecom group's subscribers with 4G and 5G services".

It would allow Telstra to grow its network and increase capacity.

The Telstra CEO at the time, Andy Penn, said:

Similar to monetising our passive infrastructure, it allows Telstra to have an innovative way of monetising some of our active mobile infrastructure, in areas where the population coverage is much smaller and more challenging in terms of returns and further investment and where there are already a number of competitors.

Additional scale from this agreement therefore supports return on invested capital in these areas and makes ongoing investment in the network and innovation more sustainable.

Snapshot of the share prices 

Over the last month, the Telstra share price has gone up around 3% and the TPG share price has gone down 1%.

The post Why all eyes will be on Telstra shares this week appeared first on The Motley Fool Australia.

It's been a pretty depressing day for the S&P/ASX 200 Index (ASX: XJO) so far this Thursday. At the time of writing, the ASX 200 has slipped by 0.5%, leaving the index at just under 7,220 points. But it's been even worse for the Telstra Group Ltd (ASX: TLS) share price today.

Telstra shares have had a disappointing showing. The ASX 200 telco has lost a hefty 0.61% of its value over this session thus far, falling from the $4.08 it closed at yesterday to the $4.06 we are currently seeing.

So why is the Telstra share price so on the nose today that the company's shares are lagging even the ASX 200 Index?

Well, it's not entirely clear. There has been no fresh news or announcement from Telstra itself today. Or indeed since 7 December.

However, there has been a development that could be impacting investor sentiment towards Telstra today.

The Australian Competition and Consumer Commission (ACCC) has just released its latest NBN Wholesale Market Indicators Report. This quarterly report reveals data surrounding the use of the national broadband network (NBN), which Telstra, along with other telcos, onsells to customers.

The latest report covers the three months to 30 September 2022. It shows that, while Telstra remains the market leader in the provision of fixed-line internet services, its market share has fallen.

Telstra falls

Over the quarter in question, Telstra commanded 42.7% of wholesale NBN market share. The next closest provider was TPG Telecom Ltd (ASX: TPG), with a 22.8% market share. Optus came next with 13.4%, followed by Vocus Group with 6.9%. 'Others' made up the remaining 14.2%.

So why is this bad news for Telstra? Well, in the previous report covering the three months to 30 June, Telstra had a 43.3% share, meaning its share of the total market fell 0.6% in just one quarter.

In fact, market share for the largest three providers (Telstra, TPG, and Optus) all fell over the quarter, taken up by smaller providers like Aussie Broadband Ltd (ASX: ABB). The 'big three' had a combined market share of 87.4% in the June quarter, but this fell to 85.8% for the September quarter.

Not exactly inspiring stuff for Telstra and its investors.

So this could be what is dragging on the Telstra share price this Thursday. It's a bit of a dampener for Telstra shares, which have enjoyed a very solid month, rising more than 4.5% since mid-November:

Telstra shares remain down by around 4% year to date. At the current Telstra share price of $4.06, the ASX 200 telco has a (wildly coincidental) trailing dividend yield of 4.06%.

The post Why is the Telstra share price lagging the ASX 200 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:

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is down 4.5% to $9.23. This may have been driven by a couple of broker notes that were released this morning. Analysts at both Citi and Macquarie have downgraded this regional bank's shares to neutral ratings on valuation grounds.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is down 5% to $6.36. This follows news that major shareholder Woolworths Group Ltd (ASX: WOW) has been selling down its stake. Woolworths has agreed to sell 5.5% of the issued capital of Endeavour via a block trade at a price of $6.46 per share. This represents a 3.6% discount to its last close price. The retail giant revealed that it isn't planning to sell any further shares in the short to medium term.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is down 4% to $4.86. Investors have been selling this telco's shares after it was the latest victim of a cyberattack. TPG revealed that its external cyber security advisers has advised that they found evidence of unauthorised access to a Hosted Exchange service which hosts email accounts for up to 15,000 iiNet and Westnet business customers. The company believes the hackers were looking for customers' cryptocurrency and financial information.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down over 2% to 62.7 cents. This morning, UBS responded to Zip's trading update and capital raising by retaining its sell rating and lowly 45 cents price target. This price target implies potential downside of almost 30% for investors from current levels.

The post Why Bendigo Bank, Endeavour, TPG, and Zip shares are dropping today appeared first on The Motley Fool Australia.