Why Core Lithium, European Lithium, Incannex, and Qantas shares are pushing higher

A couple are shocked and elated at the good news they've just seen on their devices.

A couple are shocked and elated at the good news they've just seen on their devices.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a high. At the time of writing, the benchmark index is up 0.5% to 7,010.7 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up over 6% to $1.29. This morning this lithium developer announced the appointment of its new CEO. According to the release, former Rio Tinto Limited (ASX: RIO) senior leader Gareth Manderson will take the helm on Monday. Manderson has 28 years of experience in the mining and minerals sector.

European Lithium Ltd (ASX: EUR)

The European Lithium share price is up 8% to 8.85 cents. Investors have been buying this lithium explorer’s shares after it announced an agreement with BMW. According to the release, the two parties have entered into a non-binding memorandum of understanding for European Lithium’s first offtake of battery grade lithium hydroxide.

Incannex Healthcare Ltd (ASX: IHL)

The Incannex Healthcare share price is up 22% to 27.5 cents. Management notes that this acquisition adds 22 clinical and pre-clinical research and development projects to the Incannex pipeline. It rather ambitiously estimates that these projects represent aggregate addressable markets of approximately US$400 billion per annum.

Qantas Airways Limited (ASX: QAN)

The Qantas share price is up 2% to $4.65. This may have been driven by a broker note out of UBS this morning. According to the note, the broker has reiterated its buy rating and $6.55 price target on the airline operator’s shares. Its analysts believe that recent weakness has created a compelling buying opportunity for investors.

The post Why Core Lithium, European Lithium, Incannex, and Qantas shares are pushing higher appeared first on The Motley Fool Australia.

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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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