In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decent gain. At the time of writing, the benchmark index is up 0.6% to 7,397.4 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
AVZ Minerals Ltd (ASX: AVZ)
The AVZ share price is up almost 19% to 70 cents. This appears to have been driven by news that the lithium explorer is being added to the Global Rare Earth/Strategic Metals Index at the December quarterly rebalance. AVZ will join the index along with Ioneer Ltd (ASX: INR) on 17 December. Ioneer shares are up 17% today.
Brickworks Limited (ASX: BKW)
The Brickworks share price is up 3% to $24.54. This follows the release of first half earnings guidance for its Property business. According to the release, management expects to report record Property EBIT in the range $290 million to $310 million for the half. This compares very favourably to Property EBIT of $253 million in the whole of FY 2021.
Charter Hall Group (ASX: CHC)
The Charter Hall share price is up 5.5% to $20.83. Investors have been buying this property company’s shares after it upgraded its earnings guidance for FY 2022 once again. Thanks to a net valuation uplift of ~$3.5 billion for its property portfolio, Charter Hall now expects FY 2022 operating earnings per share of ~105 cents. This is up from its previously upgraded guidance of 83 cents per share.
Senex Energy Ltd (ASX: SXY)
The Senex share price is up 3% to $4.58. This follows news that it has agreed to be acquired by Korean giant POSCO for $4.60 per share. This takeover offer values Senex at approximately $852 million. In addition, Senex intends to pay shareholders a dividend of up to 5 cents per share as part of the agreement.
The post Why AVZ, Brickworks, Charter Hall, and Senex shares are storming higher appeared first on The Motley Fool Australia.
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More reading
- Brickworks (ASX: BKW) share price lifts 3% on record forecast property earnings
- Charter Hall (ASX:CHC) share price pops 5% to record high on earnings upgrade
- ASX 200 (ASX:XJO) midday update: CSL acquisition talks, Charter Hall guidance upgrade
- Senex share price (ASX:SXY) lifts on new $852 million acquisition deal
- Why are AVZ (ASX:AVZ) and Ioneer (ASX:INR) shares rocketing higher?
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 and has recommended Brickworks. The Motley Fool Australia owns and has recommended Brickworks. 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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