In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.25% to 6,973.6 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are racing higher:
Aeris Resources Ltd (ASX: AIS)
The Aeris Resources share price is up 11% to 59 cents. This morning, analysts at Bell Potter retained their buy rating on this copper developer’s shares with an improved price target of 95 cents. This was in response to news that it has discovered a new massive sulphide lens at the Bentley deposit at its 100%-owned Jaguar Operations.
Block Inc (ASX: SQ2)
The Block share price is up over 2% to $91.01. Investors have been buying this payments companyâs shares today after they crashed deep into the red on Friday following a short seller attack from Hindenburg Research. Investors may believe this was an overreaction.
Fineos Corporation Holdings PLC (ASX: FCL)
The Fineos share price is up 4.5% to $1.17. This morning, this core systems provider to the life, accident and health, and employee benefits insurance industries revealed a cost cutting plan. It has identified operating cost reduction opportunities totalling 10 million euros. Pleasingly, management doesnât expect this to impact its growth.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 3.5% to $1.46. The catalyst for this has been speculation that Potentia is planning to make a $1.70 per share takeover offer. Tyro responded to the speculation by advising that no offer has been received. However, it confirmed that takeover talks between the two parties are continuing.
The post Why Aeris, Block, Fineos, and Tyro shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- Why is the Tyro share price smashing the ASX 300 on Monday?
- Why Block, Mincor, Race Oncology, and Weebit Nano shares are sinking today
- Block share price crashes 15% after scathing short seller attack
- 5 things to watch on the ASX 200 on Friday
- The Block share price just plummeted 6%. Here’s why
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 Block and Tyro Payments. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended FINEOS Corporation and Tyro Payments. 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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