In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and is edging higher. At the time of writing, the benchmark index is up 0.1% to 7,546.2 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Beach Energy Ltd (ASX: BPT)
The Beach share price is up 2.5% to $1.58. This may have been driven by a broker note out of Macquarie. Its analysts have upgraded the energy producer’s shares to a neutral rating with a $1.50 price target. The broker was pleased with news that Webuild has been appointed to complete the Waitsia gas plant construction.
Medibank Private Ltd (ASX: MPL)
The Medibank share price is up 2% to $3.03. This morning, this private health insurer announced that it will increase its premiums by an average of 2.96% from April. This is the lowest increase in 22 years. Investors may believe this is a nice balance in the current environment. Medibank has also decided to defer this increase until the start of June.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price is up 2% to $1.20. Investors have been buying this donation technology providerâs shares after it reconfirmed and narrowed its FY 2023 guidance. Pushpay now expects underlying EBITDAF of US$55 million to US$57 million. This compares to its previous guidance of US$54 million to US$58 million.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 5.5% to $8.93. This has been driven by a strong rise in coal prices overnight. According to CommSec, Coal Nymex futures rose 5.3% to US$157.00 a tonne. This news has given a number of other ASX coal shares a major boost today.
The post Why Beach Energy, Medibank, Pushpay, and Whitehaven Coal shares are rising appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX 200 shares today
- Why Beach, Newcrest, Patriot Battery Metals, and Warrego Energy shares are rising
- Top ASX value shares to buy in February 2023
- Did you buy $1,000 of Whitehaven shares 10 years ago? If so, hereâs how much passive income youâve received
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 Pushpay. The Motley Fool Australia has positions in and has recommended Pushpay. 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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