Why Brickworks, Ioneer, Telix, and Zip shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 6,800.9 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Brickworks Limited (ASX: BKW)

The Brickworks share price is up 2.5% to $20.62. Investors have been buying this building products company’s shares after it announced the launch of the Brickworks Manufacturing Trust and provided a trading update. In respect to the latter, Brickworks expects to report record Property earnings and strong earnings growth from its Building Products operations in both Australia and North America in FY 2022.

Ioneer Ltd (ASX: INR)

The Ioneer share price is up 4% to 51.5 cents. This follows news that the company has signed an offtake agreement with auto giant Ford for lithium from its Rhyolite Ridge Project. The agreement will see Ford’s battery-making joint venture BlueOvalSK snapping up a third of the project’s expected average annual lithium output for five years.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price has continued its ascent with a 7% gain to $7.20. Investors have been buying the radiopharmaceuticals company’s shares this week following the release of a strong quarterly update. Telix reported total revenue of $22.5 million from global sales of its Illuccix product in its first commercial quarter. This is a 10x increase on the previous quarter.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 15% to 89 cents. This appears to have been driven by a positive reaction from a leading broker to the buy now pay later provider’s fourth quarter update. According to a note out of Ord Minnett, its analysts have put an accumulate rating and 90 cents price target on its shares. The broker believes Zip could be profitable by the end of FY 2024.

The post Why Brickworks, Ioneer, Telix, and Zip shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Up 59% this week: Why is the Zip share price surging another 17% today?
• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
• Brickworks share price higher on record earnings, Goodman deal
• Ioneer share price leaps 8% on Ford supply agreement
• Why has the Brickworks share price leapt 10% in a month?

Motley Fool contributor James Mickleboro has positions in TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Brickworks. 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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