Which ASX 300 shares are accelerating?
The post Which ASX 300 shares are the major movers today? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is rebounding in positive territory on Wednesday after losing some minor ground yesterday.
During late-afternoon trade, the ASX 300 is up 0.66% to 7,433.8 points. This means that the index is currently 2.07% higher in the past week.
Let’s take a look at which ASX companies are making headlines today.
Worley Ltd (ASX: WOR)
The Worley share price is rocketing 8.77% to $11.41 today.
The engineering company revealed that it has been awarded a services contract by Shell for a low-carbon fuels facility in The Netherlands.
When online, the plant will be able to produce around 820,000 tonnes of low-carbon fuels every year. It is expected to be a key supplier of sustainable aviation fuel (SAF) and renewable diesel from waste products.
Swiss investment firm UBS also revised its outlook on Worley shares by adding 13% on its price target to $13.20.
Codan Ltd (ASX: CDA)
Adding gains to the ASX 300 is the Codan share price, up 7.51% to $13.32.
While there haven’t been any announcements from the metal detection services company, it appears its shares have found the bottom. Codan shares have been on a gradual decline for a number of months.
Since hitting an all-time high of $19.43 in mid-June, the company’s shares have lost approximately 32% in value for investors.
REA Group Ltd (ASX: REA)
Another big mover on the ASX 300 is the REA share price, up 6.08% to $163.91.
The property listings company also hasn’t reported any market-sensitive news since its full-year results in early August.
It’s worth noting that REA shares have gained more than 7% in a week following positive investor sentiment in the company. Its shares are roughly 6% off breaking the record high of $173.11 reached a few months ago.
And which ASX 300 companies are heading the other way?
Whitehaven Coal Ltd (ASX: WHC)
In decline today is the Whitehaven share price, down a sizeable 8.46% to $3.03.
The coal miner’s shares are deep in the red after a sharp pullback in coal prices. Currently, the spot price for thermal coal is fetching US$233.00 a tonne. This represents a decline of 4.27% in the past 5 business days.
Yancoal Australia Ltd (ASX: YAL)
Without surprise, also trailing not far behind is the Yancoal share price, down 7.01% to $3.45.
The energy producer’s shares frequently make the ASX 300 headlines, bouncing from the top gains to the biggest loser.
It’s worth noting that a number of ASX energy sector companies are also freefalling today. The S&P/ASX200 Energy Index (ASX: XEJ) is down 1% to 8,852 points.
Should you invest $1,000 in ASX 300 right now?
Before you consider ASX 300, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and ASX 300 wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.