In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.9% to 7,178.4 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are pushing higher:
BlueScope Steel Limited (ASX: BSL)
The BlueScope share price is up 1.5% to $18.16. Investors have been buying the steel producer’s shares after it upgraded its earnings guidance. Thanks to strong demand, BlueScope has lifted its underlying EBIT guidance for the second half of FY 2022 to between $1.375 billion to $1.475 billion. This compares to its prior guidance of $1.2 billion to $1.35 billion.
Firefinch Ltd (ASX: FFX)
The Firefinch share price is up 5.5% to 96 cents. This morning the gold and lithium explorer released a positive update on the Morila Gold Mine in Mali. That update reveals that the Government of Mali has agreed to extend the establishment convention for the Morila Gold Mine for three years until 16 May 2025. This allows for the ramp-up of activities and gold production at Morila.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is up 5% to $1.11. The catalyst for this was news that the fertility treatment company has signed an agreement to acquire PIVET Medical Centre. It is a provider of fertility services in Cairns and Perth. The deal will see Monash IVF pay an initial up-front cash consideration of $9.4 million on a debt free basis.
South32 Ltd (ASX: S32)
The South32 share price is up 5% to $4.69. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has retained its outperform rating and $6.90 price target on the mining giant’s shares. It believes that South32’s positive near term outlook bodes well for share buybacks.
The post Why BlueScope, Firefinch, Monash IVF, and South32 shares are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Here are the 3 most heavily traded ASX 200 shares on Wednesday
- Top brokers name 3 ASX shares to buy today
- Macquarie reveals 2 sectors where bargain ASX shares still exist
- ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles
- ‘Strong demand’: Bluescope share price strengthens on guidance upgrade
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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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