Why A2 Milk, BHP, Lovisa, and Nickel Industries shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a strong gain. At the time of writing, the benchmark index is up 1% to 6,964.5 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up over 2% to $5.68. This morning the infant formula company revealed that regulators in China have extended the registration of its Chinese label products until February. This registration was due to expire this month. A2 Milk will still have to register its product to new food safety standards by February.

BHP Group Ltd (ASX: BHP)

The BHP share price is up 3.5% to $39.37. Investors have been buying this mining giant’s shares after iron ore and other commodity prices pushed higher on Friday night. Traders were bidding commodity prices higher amid optimism that Chinese demand will increase thanks to stimulus packages.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 3.5% to $24.59. This has been driven by the release of yet another bullish broker note this morning. According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this fashion jewellery retailer’s shares materially to $27.25. Morgan Stanley believes the company can grow its store network quicker than anticipated.

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is up almost 7% to 95.5 cents. Investors have been buying this nickel producer’s shares following the release of an update on its Hengjaya Mine in Indonesia. According to the release, the company has upgraded its mineral resource to 300 million dry metric tons, with an average grade of 1.22% nickel and 0.09% cobalt. This equates to approximately 3,700,000 tons of nickel metal and 270,000 tons of cobalt. This represents a 333% increase to its measured resources.

The post Why A2 Milk, BHP, Lovisa, and Nickel Industries shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Here’s why the Nickel Industries share price is racing 7% higher
• How big will the BHP dividend be in 2023?
• Why is the A2 Milk share price storming 6% higher on Monday?
• A2 Milk share price on watch following China update
• 5 things to watch on the ASX 200 on Monday

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 recommended A2 Milk and Lovisa Holdings Ltd. 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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