In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a tiny gain. At the time of writing, the benchmark index is up a fraction to 7,362.2 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
AMP Ltd (ASX: AMP)
The AMP share price is up 3% to $1.13. This follows the release of the financial services companyâs quarterly update. AMP reported growth in both its bank loan book and its asset under management. The latter grew $2 billion to $126.2 billion for the Australian Wealth Management business.
EML Payments Ltd (ASX: EML)
The EML share price is up a further 19% to 80 cents. Investors have been buying this struggling payments companyâs shares this week after it announced the exit of its CEO and the scrapping of its previously announced strategy. Investors appear to believe this was the right move by EML.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4% to $4.11. This may have been driven partly by the release of a broker note out of UBS on Tuesday. That note saw the broker upgrade this lithium minerâs shares to a buy rating with a $4.60 price target. While UBS has reduced its near term lithium forecasts, it has boosted its long term assumptions.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is up a further 5.5% to $9.39. This pharmaceutical companyâs shares have been on fire this week following the release of its quarterly update. Telix reported first quarter revenue of $100.1 million. This was up massively from $3.7 million a year earlier and 27% from $79 million in the fourth quarter of FY 2022.
The post Why AMP, EML, Pilbara Minerals, and Telix shares are racing higher today appeared first on The Motley Fool Australia.
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More reading
- Why is ASX 200 stock Telix Pharmaceuticals suddenly so hot?
- Capital deities and destroyers: The best and worst at putting money to work among ASX 200 shares
- AMP share price marching higher as net outflows ebb
- Here’s the latest forecast for ASX 200 lithium stocks from UBS
- Here are the top 10 ASX 200 shares today
Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML 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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