Top 20 ASX trades by Sharesight users – July 2023

Welcome to the July 2023 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 strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS), followed by CSL (ASX: CSL), which has seen its share price plummet throughout July, hitting a new 52-week low. Over the same period, sell trades were led by Pilbara Minerals (ASX: PLS), which despite a brief dip due to plummeting lithium prices, has seen its share price remain relatively stable over the month. Overall, this month’s top trades were largely dominated by index-tracking ETFs as well as stocks in the banking, mining and minerals sectors.

Top 20 ASX trades July 2023

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

CSL (ASX: CSL)

• CSL share price hits new 52-week low
• Slow share price growth for CSL in FY23 but analysts are bullish for FY24
• CSL shares drop as competitor delivers strong trial results

BHP (ASX: BHP)

• BHP posts iron ore record but warns of uncertainty ahead to due to inflation and global economic volatility
• Analysts predict further downside for BHP
• Share price slides despite growing iron ore prices due to unexpected strength of US labour market

Pilbara Minerals (ASX: PLS)

• Pilbara share prices rises following update on mid-stream demonstration plant
• Pilbara CEO dismisses plummeting share prices as disproportionate response to drop in lithium prices
• Share price skyrocketed over 110% in FY23

ANZ (ASX: ANZ)

• ACCC to delay decision on Suncorp-ANZ merger until 4 August
• ANZ share price drops following news of delayed merger
• ANZ shares rise despite narrowing margins

Fortescue Metals (ASX: FMG)

• Reports record iron ore shipments of 192Mt for FY23; forecasts rise in shipments for FY24
• Fortescue share price drops despite record iron ore shipments
• More delays at Iron Bridge magnetite project

Endeavour (ASX: EDV)

• Endeavour shares down 20% in a year
• Endeavour shares tumble as pokies hit with new regulations
• Leading broker reiterates ‘buy’ rating on Endeavour following share price drop

Woodside Energy (ASX: WDS)

• Woodside’s Pilbara LNG export operation could be hit with industrial action
• Share price rises as crude oil exceeds 52-week high
• Q2 revenue down almost 30% compared to Q1, fuelled by lower global commodity prices

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Sharesight users' top 20 ASX trades of FY22/23