The S&P/ASX 200 Index (ASX: XJO) is on course to bounce back with a small gain on Tuesday. In afternoon trade, the benchmark index is up 0.3% to 7,250.1 points.
Four ASX shares that are climbing more than most are listed below. Hereâs why they are charging higher:
Ainsworth Game Technology Limited (ASX: AGI)
The Ainsworth Game Technology share price is up over 9% to $1.21. Investors have been buying this gaming technology companyâs shares following the release of an update at its annual general meeting. Management advised that it expects to achieve approximately $18 million in profit before tax pre-currency and one-offs for the six months ending 31 December 2022.
BHP Group Ltd (ASX: BHP)
The BHP share price is up 2.5% to $45.00. The catalyst for this gain appears to have been a rebound in iron ore prices during Asian trade. According to the Singapore Exchange, iron ore futures are up 3% to US$100.40 per tonne. Rio Tinto Ltd (ASX: RIO) shares are rising by a similar margin for the same reason. The potential easing of restrictions in China has boosted prices.
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)
The Fisher & Paykel Healthcare share price is up 10% to $21.18. This follows the release of the medical device companyâs half year results this morning. Although Fisher & Paykel Healthcare reported a 57% decline in net profit after tax to NZ$88.85 million, this was in line with expectations. The prior corresponding period benefited greatly from COVID demand for respiratory care devices.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up 6% to 51 cents. Leo Lithium and a number of other lithium shares are rebounding strongly today after recent declines. This may have been driven by speculation that China may ease COVID restrictions despite soaring cases. China is holding a COVID briefing later today.
The post Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher appeared first on The Motley Fool Australia.
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More reading
- Here’s what’s boosting these ASX 200 mining giants today
- Profit down 57%, share price up 12%. Whatâs with this ASX 200 healthcare stock today?
- Mike Henry has sold $650k of BHP shares in the past week. What’s going on?
- Almost ready to retire? How to generate $70k per year of passive income from ASX dividend shares
- Does an investment in Fortescue shares provide the âhealthiestâ ASX exposure to iron ore?
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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