In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has defied the selling on Wall Street and pushed higher. At the time of writing, the benchmark index is up 0.45% to 6,652.2 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are pushing higher:
Data#3 Limited (ASX: DTL)
The Data#3 share price is up almost 11% to $5.36. Investors have been buying this business technology solutions companyâs shares following the release of a trading update. That update reveals that Data#3 expects to report a full-year profit before tax of $44 million in FY 2022. This is up 19% year on year.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price is up 5.5% to $13.14. This follows the release of a trading update which revealed that the investment platform provider achieved annual net inflows of $13 billion for FY 2022. This was its highest ever annual net inflows and an increase of 32.4% on last yearâs numbers. This led to Netwealthâs funds under administration (FUA) reaching $55.7 billion at the end of June.
New Hope Corporation Limited (ASX: NHC)
The New Hope share price is up 6.5% to $4.28. Investors have been buying New Hope and other coal shares this week after coal prices continued to rise. In addition, the companyâs shares were given a boost from a broker note out of Credit Suisse on Wednesday. Its analysts have retained their outperform rating and $4.90 price target on its shares.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up almost 3% to $2.43. After a poor start to the day, this lithium share is rebounding. Although Pilbara Minerals reported its first decline in the price received from a BMX lithium auction, it is still commanding a price that is materially higher than 12 months ago.
The post Why Data#3, Netwealth, New Hope, and Pilbara Minerals shares are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Here’s why ASX 200 coal shares are firing up today
- Netwealth share price up 6% as annual net inflows reach new record
- ‘Strong FY22 performance’: Here’s why the Data#3 share price just rocketed 14%
- The best and worst ASX All Ords mining shares of FY22
- Pilbara Minerals share price drops on latest BMX lithium auction update
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 positions in and has recommended Netwealth. The Motley Fool Australia has positions in and has recommended Netwealth. 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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