In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its intraday gains and is fighting to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,256.8 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
BHP Group Ltd (ASX: BHP)
The BHP share price is up 3.5% to $47.85. Investors have been buying this mining giantâs shares after commodity prices rose overnight. The driver of this was the release of very strong economic data out of China, which has sparked hopes that demand could increase majorly.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is up 1.5% to $8.44. Earlier this week, the computer software and hardware distributor revealed that three of its directors have been loading up on shares through on-market trades. With Dicker Dataâs shares falling to a 52-week low on Monday, these directors appear to have seen a buying opportunity.
South32 Ltd (ASX: S32)
The South32 share price is up 5% to $4.69. As with BHP, this is likely to have been driven by a strong night of trade for base metals. As covered here, the copper futures price rose 1.7% and the aluminium futures price climbed 2.3% after data from China showed that manufacturing activity rose at the fastest pace in more than a decade in February.
Winsome Resources Ltd (ASX: WR1)
The Winsome Resources share price is jumping 15% to $2.37. This is despite there being no news out of the lithium explorer. However, investors appear excited by Winesome Resources’ 100%-owned Adina project in Quebec, Canada. It recently released drilling results that âconfirm the high-grade nature of the lithium mineralisation at the Adina Main Zone.â
The post Why BHP, Dicker Data, South32, and Winsome Resources are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Why is the South32 share price surging 5% on Thursday?
- Should I buy BHP shares at $46?
- Why did the BHP share price tumble 9% in February?
- Dicker Data share price falls on FY22 earnings and dividend decline
- Want an income boost? Buy these ASX dividend shares: experts
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 Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. 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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