In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and charging higher. At the time of writing, the benchmark index is up 0.8% to 7,051.7 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are racing higher:
Deep Yellow Limited (ASX: DYL)
The Deep Yellow share price is up a further 13% to 86.5 cents. This uranium explorerâs shares have been on fire this week. This appears to have been driven by reports that Japan is considering building new nuclear plants to stabilise its energy supply. This would likely be a big boost to demand for uranium.
IDP Education Ltd (ASX: IEL)
The IDP Education share price is up 6% to $28.50. This follows the release of a strong full year result from the language testing and student placement company. IDP reported a 50% increase in revenue to $793 million and a 159% jump in net profit after tax to $102.6 million. This was driven by record IELTS testing volumes and record student placements.
Pendal Group Ltd (ASX: PDL)
The Pendal share price is up 8% to $5.27. Investors have been scrambling to buy this fund managerâs shares after it received another takeover approach from rival Perpetual Limited (ASX: PPT). The latter has offered one Perpetual share for every 7.5 Pendal shares owned and $1.976 per share. This equated to an offer of $6.54 per share at the time. Though, the Perpetual share price has sunk on the news, lowering the value of the offer.
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 6% to $4.81. Investors have been buying this airline operatorâs shares following the release of its full year results for FY 2022. Although, as expected, the company reported a significant loss, it surprised the market with a $400 million share buyback.
The post Why Deep Yellow, IDP, Pendal, and Qantas shares are soaring today appeared first on The Motley Fool Australia.
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More reading
- Why are ASX uranium shares going gangbusters on Thursday?
- What’s going on with the Qantas dividend in 2022?
- Pendal share price soars 15% on takeover news
- IDP Education share price leaps 11% as revenue surges in FY22
- The Qantas share price just flew 8% higher on $400 million share buyback
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 Idp Education Pty Ltd. 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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