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Highlights:
- The benchmark S&P/ASX 200 index has been buzzing in the green territory since today morning. It had gained 74.50 points at 2:45 PM AEST.
- Today, ten out of eleven significant sectors were in green (as at 2:45 PM AEST).
- Materials sector was the top performing sector so far with a rise of more than 2%.
Australian stock market’s benchmark index, S&P/ASX 200 (NDEXASX:XJO) gained 74.50 points to 6,968.70 points on Monday, 12 September 2022 (as at 2:45 PM AEST). ASX stocks were likely taking cues from the US stock market that ended on a strong note on Friday (9 September 2022).
In the last five trading sessions, ASX 200 has gained 118.20 points. In the last six months, it has dropped 2.50%, and in the last one month, it has fallen 0.88% (as of 2:58 PM AEST). The yearly fall is around 6.13%, and on a year-to-date basis, the index has lost 6.18%.
Around the same time, ASX 200 VIX (INDEXASX:XVI) was up 10.08%. It is a real-time volatility index that provides insight into the expected level of volatility.
Along with the ASX 200 index, 10 out of 11 sectors were in green (at 2:45 PM AEST). Materials was the best performing sector with a surge of 2.29%. Industrial sector was the worst performing one with a drop of 0.18%.
Today, in this article, Kalkine Media has discussed performances of some ASX50-listed stocks. These feature BHP Group Limited, Rio Tinto Limited, CSL Limited, Telstra Corporation Limited, and Fortescue Metals Group Ltd.
BHP Group Limited (ASX:BHP)
Shares of BHP Group are shining today. The stock is likely following its benchmark index and the broader market movement.
At 2:59 PM AEST, Materials was the top performing sector. It recorded a rise of 2.19% to 16,235.20 points.
BHP shares recorded a rise of 3.56% at 2:42 PM AEST to trade at AU$39.44 per share. In the past five days, it has surged 3.48%. In a year, the share price has dipped 4.91%.
Rio Tinto Limited (ASX:RIO)
Image source: © Rafaelhenriquepress | Megapixl.com
On Monday, Rio Tinto shares were also registering significant gains. No significant update was shared the company today that could push the share prices higher. However, the group was in the news recently as it has regularly provided updates on the Turquoise Hill deal.
On 6 September 2022, Rio informed the market that it had entered into a definitive agreement to acquire 100% interest in Turquoise Hill. The best and final offer proposed by Rio was C$25.68 per share.
On the development, Jakob Stausholm, CEO, Rio commented, “This transaction will simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the You Tolgoi project.”
Rio was spotted trading 1.85% higher from its previous close at AU$96.11 per share (at 2:44 PM AEST). Including today’s gain, the share price has risen by 4.23%. In 12 months, it has dropped by nearly 10%.
CSL Limited (ASX:CSL)
CSL shares underperformed the broader market today as it entered the red zone during the early trading hours while ASX 200 was heading north.
Worth mentioning here is that CSL’s full-year financial results were not positive. In the last 12 months, the company’s EBITDA dropped 5%, with a 14% drop in impairment, amortisation and depreciation. Net profit after tax dipped 6%, and earnings per share sank 8%.
Despite the fall in net profit after tax, the company maintained its full-year distribution of US$2.22 per share.
At 2:48 PM AEST, CSL’s share price was trading at AU$296.20 per share, 0.82% down from its previous close. CSL share price has gained 12.53% in the last six months, and it grew by 0.09% on a year-to-date basis.
Telstra Corporation Limited (ASX:TLS)
Shares of Telstra are heading north today, although the company did not share any price-sensitive news recently. The shares align with its benchmark index, ASX 200 Communication (INDEXASX:XTJ), which was 0.45% up at 3:12 PM AEST to 1,427.50 points.
Telstra’s revenue has been dipping for the past many years. As of June 2019, it was AU$25.25 billion. By June 2020, it dropped to AU$23.71 billion; in June 2021, it was AU$21.55 billion. In June 2022, it declined to only AU$21.27 billion.
Despite the fall in revenue this year, the company has increased its yearly distribution from AU$0.080 dividend per share to AU$0.085 dividend per share. The rise came as the company completed its Telstra2022 strategy.
At 2:52 PM AEST, Telstra was trading at AU$3.94 apiece, 0.51% higher than the previous close. This communication stock gained 1.55% in the last five trading sessions and lost 6.64% on year-to-date basis.
Fortescue Metals Group Ltd (ASX:FMG)
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Image source: © Viewimage | Megapixl.com
Following the broader market, Fortescue's share price is surging today.
Talking about the short-term growth of the group. The company expects to report iron ore shipments of 187 – 912mt. The estimation also includes 1mt from Iron Bridge.
Looking at the long-term growth prospects and the green leg of the organisation, Fortescue Future Industries (FFI) has a lot to offer. FFI’s goal is to create a global portfolio of clean hydrogen-producing hubs.
FFI is expecting to produce 15mt of green hydrogen annually by 2030. Already, it has clients to purchase its production. For instance, E.ON, a European energy company, is looking to buy around 5mt of green hydrogen annually by 2030.
Fortescue's share price gained 3.40% today to trade at AU$18.42 apiece (at 2:55 PM AEST). Including today’s gain, Fortescue’s share price recorded a rise of nearly 10% in the last five trading sessions and dropped 7.23% on a year-to-date basis.
