The S&P/ASX 200 Index (ASX: XJO) is on course to end the year with a decline on Thursday. In late morning trade, the benchmark index is down 0.3% to 6,661.7 points.
Four shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:
Costa Group Holdings Ltd (ASX: CGC)
The Costa share price is up 2% to $4.16. This morning Vitalharvest Freehold Trust (ASX: VTH) provided an update on its takeover by Macquarie Agricultural Funds Management. Costa leases seven farms from Vitalharvest and has agreed long term deals with Macquarie for them. Investors appear happy with the transaction’s progress.
Galaxy Resources Limited (ASX: GXY)
The Galaxy share price has pushed 3% higher to $2.27. The lithium miner’s shares have been strong performers recently and hit a multi-year high earlier today. Investors have been buying the company’s shares on the belief that lithium demand will increase greatly in the coming years thanks to growing electric vehicle adoption.
Oil Search Ltd (ASX: OSH)
The Oil Search share price has climbed 2% to $3.73. This appears to have been driven by a rise in oil prices overnight after a better than expected inventory draw in the United States. According to CNBC, Brent crude oil futures gained 0.5% to settle at US$51.34 per barrel and U.S. West Texas Intermediate (WTI) crude oil advanced 0.8% to settle at US$48.40 per barrel.
Ramelius Resources Limited (ASX: RMS)
The Ramelius share price has risen 3.5% to $1.68. Investors have been buying the gold miner’s shares after the price of the precious metal pushed higher overnight following further weakness in the US dollar. It isn’t just the Ramelius share price that is advancing this morning. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a decent 1.2%.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- 5 things to watch on the ASX 200 on Thursday
- Is the surging Bitcoin an existential threat to ASX gold miners?
- 5 things to watch on the ASX 200 on Thursday
- ASX 200 up 0.5%: Big four banks rise, Smartgroup guidance, Transurban distribution update
- Here’s how ASX 200 energy shares have performed in 2020 so far
Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Costa, Galaxy, Oil Search, & Ramelius shares are pushing higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3aW4svK
Leave a Reply