Top 20 ASX trades by Sharesight users – October 2021

Welcome to the October 2021 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, buy trades were led by Vanguard’s Australian Shares (ASX: VAS) and International Shares (ASX: VGS) ETFs. Sell trades were led by Commonwealth Bank (ASX: CBA), which has confirmed its plans to close its financial advice business; followed by Fortescue Metals (ASX: FMG), which has acquired a majority stake in a Dutch renewables business. Overall, it was a varied month for trades on the ASX, with the top 20 trades consisting of ETFs and stocks in the mining, banking, transportation and telco sectors, among others.

Top 20 ASX trades October 2021

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Fortescue Metals (ASX: FMG)

• Fortescue purchases 60% stake in Dutch renewable energy firm
• Threats to commodity drivers put Fortescue shares at risk, says analyst
• Fortescue to power iron ore shipments with green ammonia

BHP (ASX: BHP)

• BHP share price rises as iron ore share price rebounds; broker tips 20% upside
• Reports decline in Australian iron ore shipments
• Announces collaboration with POSCO to develop low-carbon steelmaking tech

Commonwealth Bank (ASX: CBA)

• CBA closes financial advice business
• Discontinues controversial "Dollarmites" program
• Broker tips CBA share price to slide 24% YoY

Flight Centre (ASX: FLT)

• Flight Centre counting on travel rebound as lockdowns lifted; borders soon to reopen
• Share price drops after raising AU$400m in convertibles deal
• Share price falls following Q1 financial results

Whitehaven Coal (ASX: WHC)

• Whitehaven share price falls as China announces new coal industry restrictions
• Releases quarterly report; expects "significant cash generation" over next few months
• Share price down despite promising quarterly results

Woodside Petroleum (ASX: WPL)

• Woodside announces plan to develop AU$1b hydrogen and ammonia plant in Perth
• Further job cuts for Woodside staff amid company restructure
• Share price drops following 27% cut to gas reserves estimate

Aussie Broadband (ASX: ABB)

• Aussie Broadband in talks to buy telco Over The Wire for AU$342m
• NBN bandwidth costs up 137% quarter-on-quarter
• Releases quarterly update; revenue up 11.3%

Pilbara Minerals (ASX: PLS)

• Pilbara finalises deal with POSCO to develop lithium hydroxide conversion facility
• Share price rises following 54% resource upgrade
• Shareholders await Pilbara’s next spodumene auction, hoping for another record-breaker

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Disclaimer: The above article is for informational purposes only and does not constitute a product recommendation, or taxation or financial advice and should not be relied upon as such. Always check with your financial adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

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• Top 20 ASX trades by Sharesight users – September 2021