In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.4% to 7,508.7 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price is up 5% to 66.7 cents. This morning, the lithium developer provided an update on its Rincon project in Argentina. Argosy Minerals revealed that it remains on track to start steady-state production by the end of the second quarter of calendar year 2023.
Credit Corp Group Limited (ASX: CCP)
The Credit Corp share price is up 2.5% to $22.20. This follows the release of the debt collection companyâs half year results. Credit Corp reported an 8% increase in revenue to $220.5 million but a 30% decline in profit to $31.8 million. The market appears to have been expecting even worse for its profits.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up 9% to $17.27. Investors have responded positively to the travel agent’s plan to acquire United Kingdom-based luxury travel brand Scott Dunn for $211 million. To support the acquisition, Flight Centre has raised $180 million from institutional investors at a 7.8% discount of $14.60 per new share. Flight Centre also released a solid trading update yesterday.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up over 11% to $1.06. This morning, the biotech company revealed that it has resubmitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for the approval of remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). The resubmission contains substantial new information as required by the FDA.
The post Why Argosy Minerals, Credit Corp, Flight Centre, and Mesoblast shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX 200 share dropped then popped on a 30% profit dive
- ASX 300 lithium share Argosy Minerals soars 6% on imminent production
- Guess which ASX All Ords biotech share is rocketing 13% on FDA news
- Flight Centre share price rockets 15% as ASX 200 travel stock resumes trading
- Flight Centre share price frozen amid $211m âluxuryâ acquisition
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 Flight Centre Travel Group. 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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