In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on form and pushing higher again. At the time of writing, the benchmark index is up 0.2% to 7,407.1 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
CSR Limited (ASX: CSR)
The CSR share price is up 5% to $6.31. This follows the release of the building products company’s half year results this morning. According to the release, for the six months ended 30 September, CSR reported a 6% increase in revenue to $1.1 billion and a 41% lift in EBIT to $132.6 million.
Hipages Group Holdings Ltd (ASX: HPG)
The Hipages share price has jumped 8% to $4.05. The catalyst for this was news that the tradie marketplace has made a key investment. Hipages has acquired a 25% interest in Bricks + Agent for $6.25 million. The release notes that Bricks + Agent is one of Australia’s leading property management technology platforms. It has 360,000 users, a pipeline of almost 500,000 properties under management, and 21,000 tradies on its platform.
NIB Holdings Limited (ASX: NHF)
The NIB share price is up 4.5% to $7.05. This follows the release of the private health insurer’s annual general meeting update. That update revealed that NIB achieved an 8.5% increase in premium revenue to $669.5 million during the first quarter. NIB also reported a 0.6% increase in Australian resident health insurance (ARHI) policies and a 2.4% decline in estimated ARHI claims to $442.5 million.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price has jumped 13% to 94.2 cents. This morning the uranium producer provided an update on the Langer Heinrich Mine restart plan. According to the release, the plan confirms the restart cost estimate of US$81 million and a 17 year mine life. In addition, the company revealed that its life of mine production target has increased to 77.4Mlb of U3O8 from 76.1Mlb.
The post Why CSR, Hipages, NIB, and Paladin Energy shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- 30% jump in profit sees CSR (ASX:CSR) share price spike
- ASX 200 (ASX:XJO) midday update: Zip’s record month, Domino’s crashes
- 5 things to watch on the ASX 200 on Thursday
- 3 fantastic ASX growth shares to buy this month
- Why Aussie Broadband, BlueBet, Hipages, and JB Hi-Fi shares are rising
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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