Top 20 ASX trades by Sharesight users – February 2024

Welcome to the February 2024 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, trades were led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual stocks, the top trades were led by Woodside Energy (ASX: WDS), which reported a 74% decrease in its FY23 profit; followed by BHP (ASX: BHP), which also saw its half-year profit plummet by 86%.

Top 20 ASX trades February 2024

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

Woodside Energy (ASX: WDS)

• Woodside share price rises despite 74% drop in FY23 profit
• Woodside not looking for another acquisition following failed Santos deal
• Awards a new contract for its ultra-deepwater Mexican development

BHP (ASX: BHP)

• BHP announces 86% drop in half-year profit
• Preparing to expand copper metal production
• BHP’s nickel operations not expected to be profitable before 2030

Pilbara Minerals (ASX: PLS)

• Pilbara vows to put pressure on government over lithium tax breaks
• Shares plummet as Pilbara reports 76% drop in half-year profit, plans to withhold dividend
• Pilbara sees signs of end to lithium price slump

Woolworths (ASX: WOW)

• Woolworths grows half-year profit to almost AU$1 billion
• CEO resigns amid scrutiny over alleged price-gouging tactics
• Share price drops 5% in worst day since May 2022

Westpac (ASX: WBC)

• Westpac share price hits a 52-week high ahead of quarterly earnings report
• Announces AU$1.8 billion quarterly profit
• Plans to sell off RAMS Home Loans

Macquarie Group (ASX: MQG)

• Macquarie profit plummets due to weakness in commodities and global markets business; commodities head to step down
• Share price drops following disappointing earnings report
• Macquarie share price could get a boost from AirTrunk IPO

Whitehaven Coal (ASX: WHC)

• Whitehaven receives green light from QLD government for Winchester South coal mine
• Whitehaven to sell 20% stake in Blackwater metallurgical coal mine
• Share price tumbles as half-year earnings take a nosedive

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 ASX trades by Sharesight users – January 2024