The S&P/ASX 200 Index (ASX: XJO) is well and truly back on form on Friday. In morning trade, the benchmark index is up 1% to 7,420.2 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are jumping:
EML Payments Ltd (ASX: EML)
The EML Payments share price is up a further 9% to 99 cents. Investors have been buying this payments company’s shares this week after it announced plans to close down its loss-making PFS Card Services Ireland business. Management advised that it will now be closed to new business and wound down in a professional and orderly manner.
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo Interactive share price is up 6% to $14.77. This appears to have been driven by news that the next Powerball jackpot will be the second largest in history at $150 million. This will be good news for this lottery ticket seller, which clips the ticket on each sale through its platform.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up 16% to 30.75 cents. Investors have been fighting to buy the biotechnology company’s shares today after it was given some positive news from the US FDA. The regulator has granted its allogeneic cell therapy Revascor (rexlemestrocel-L) a Rare Pediatric Disease Designation. This follows the submission of results from the randomised controlled trial in children with hypoplastic left heart syndrome, which is a potentially life-threatening congenital heart condition.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up over 5% to $8.23. This morning, this coal miner released its second quarter update. While managed run-of-mine (ROM) production came in 6% lower quarter on quarter at 5.0Mt, the company reported a 21% increase in total equity sales of produced coal to 3.7Mt for the three months.
The post Why EML, Jumbo, Mesoblast, and Whitehaven Coal shares are jumping today appeared first on The Motley Fool Australia.
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More reading
- Why are Whitehaven Coal shares racing 7% higher on Friday?
- Why are Mesoblast shares rocketing 28% today?
- Why EML, Mount Gibson, Nuix, and Raiz shares are rising today
- Why is the EML share price rocketing 27% on Thursday?
- Why Alumina, Jumbo, Kali Metals, and Silex shares are pushing higher today
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 EML Payments and Jumbo Interactive. The Motley Fool Australia has recommended Jumbo Interactive. 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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