The S&P/ASX 200 Index (ASX: XJO) are on course to start the week with a small decline. In late trade, the benchmark index is down 0.1% to 7,142.5 points.
Four ASX shares that have not let that hold them back are listed below. Hereâs why they are pushing higher:
Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 2.5% to $2.06. Investors have been buying this lithium share thanks to a rebound in the industry and the release of the companyâs ESG report. Management notes that its ESG report reinforces its âvision to be an ESG leader and a globally significant provider of battery minerals for the rapidly growing clean energy market.â
Lovisa Holdings Ltd (ASX: LOV)
The Lovisa share price is up 2.5% to $24.43. This appears to have been driven by a broker note out of UBS. According to the note, the broker has upgraded the jewellery retailerâs shares to a buy rating with an improved price target of $29.00. This follows the release of a stronger than expected trading update last week.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is up 9% to 72.5 cents. This appears to have been driven by recent news that rival David Jones is a takeover target. Investors may believe that Myerâs shares are trading at attractive multiples based on prices being touted for David Jones.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3% to $8.44. Investors have been buying Whitehaven Coal and other coal miners today. This follows a strong end to the week for the coal prices. According to CommSec, the coal Nymex share price rose 3.4% on Friday night. The Whitehaven Coal share price is now up over 200% since the start of 2022.
The post Why Liontown, Lovisa, Myer, and Whitehaven Coal shares are pushing higher appeared first on The Motley Fool Australia.
FREE Beginners Investing Guide
Despite what some people may say – we believe investing in shares doesnât have to be overwhelming or complicatedâ¦
For over a decade, weâve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion âexperts” seem to want to perpetuate – weâve created a brand-new âhow toâ guide.
Yes, Claim my FREE copy!
*Returns as of November 7 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- 2 ASX All Ordinaries shares hitting multi-year highs on Monday
- Leading brokers name 3 ASX shares to buy today
- Is this ASX 200 share the gift that keeps on giving?
- Why is the Lake Resources share price smashing the ASX 200 on Monday?
- Why is the Liontown share price having such a roaring start to the week?
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 Lovisa Holdings Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/Cxgzvdt
Leave a Reply