The S&P/ASX 200 Index (ASX: XJO) is out of form on Friday and on course to end the week deep in the red. In afternoon trade, the benchmark index is down 1.2% to 6,476.9 points.
Four ASX shares that have not let that stop them from pushing higher today are listed below. Here’s why they are rising:
AGL Energy Limited (ASX: AGL)
The AGL share price is up 3% to $6.80. This appears to have been driven partly by a broker note out of Credit Suisse this morning. According to the note, the broker has upgraded the energy company’s shares to an outperform rating with an $8.20 price target. This follows news that AGL plans to exit from coal 10 years ahead of its previous target.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up over 3% to $7.74. Investors have been buying gold miners today despite the gold price only rising very modestly during Asian trade. This has led to the S&P/ASX All Ordinaries Gold index rising 2.5% today. Demand for safe haven assets could be boosting Northern Star and its peers.
Qualitas Ltd (ASX: QAL)
The Qualitas share price is up 6.5% to $2.30. This morning this alternative real estate investment manager revealed that it has secured a new capital commitment from a global institutional investor to invest $440 million in the Qualitas Construction Debt Fund II. Including the recent Abu Dhabi Investment Authority investment, Qualitas has now raised a total of $1.19 billion in new capital in the first three months of FY 2023.
Rio Tinto Limited (ASX: RIO)
The Rio Tinto share price is up 2.5% to $93.25. This could have been driven by news that the mining giant has started producing spodumene concentrate at a demonstration plant in its Rio Tinto Iron and Titanium facility in Quebec. Spodumene is a mineral used in the production of lithium for batteries.
The post Why AGL, Northern Star, Qualitas, and Rio Tinto shares are pushing higher today appeared first on The Motley Fool Australia.
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More reading
- Guess which under-the-radar ASX energy share has soared 34% in 6 weeks
- Rio Tinto share price smashes ASX 200 amid lithium production news
- Here are the top 10 ASX 200 shares today
- Own Northern Star shares? Here’s some great news about your dividends
- Guess which ASX 200 mining shares are outpacing BHP today
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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