3 Australian shares quietly crushing the ASX today

It’s not shaping up to be a pleasant end to the trading week for Australian shares so far this Friday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has tanked by a chunky 0.51%, leaving the index at around 7,742 points.

But that doesn’t mean all Australian shares are losing steam today. So let’s check out three ASX shares that are defying the broader market to push higher.

Three Australian shares bucking the markets today

Block Inc (ASX: SQ2)

Block, the owner of Afterpay (which enabled this US-based tech share to join the ASX) is first up. Block shares are crushing the ASX, with the payments stock currently up 1.98% at $127.68 a share. There’s been no major ASX news out of this company today that might easily explain this move.

However, Block’s Australian shares are actually extensions of the company’s primary US stock. Last night, we saw Block Inc (NYSE: SQ) shares rocket 3.18% to finish up at US$84.05. This continues a trend we’ve seen for the past few months, with Block’s US stock now up almost 88% since September.

It’s likely that this rise on the New York Stock Exchange overnight is what is driving Block’s ASX shares higher today.

Goodman Group (ASX: GMG)

Our next stock is a bonafide Australian share – well, a real estate investment trust (REIT) to be precise. Goodman Group units are also crushing the ASX today, with the REIT up a solid 2% to $31.62 a unit.

There hasn’t been much in the way of news out from Goodman in recent days either. Saying that, this is also an investment that has been delivering returns for investors in spades over the past few weeks. Goodman units are up 10.8% over the past month alone, and up more than 46% over the past six months.

Investors were particularly delighted with the half-year earnings report Goodman put out last month. This included a revelation that the REIT has increased its operating profit by 29% year on year to $1.13 billion. Goodman units have been leaping higher ever since. This goodwill could be what is helping Goodman stave off the market’s bad mood today.

Virgin Money UK plc (ASX: VUK)

Most Australian bank shares are having an awful Friday. That includes Virgin Money’s old owner National Australia Bank Ltd (ASX: NAB). But not Virgin Money itself. This ASX bank share is currently enjoying a healthy 3.42% boost up to $4.08.

Virgin Money has been in the news rather regularly lately, thanks to a takeover offer from the UK-based Nationwide Building Society. As we covered at the time, Nationwide Building Society’s offer of 220 British pence per share for Virgin Money saw the bank jump almost 35% on the ASX.

This morning, Virgin Money released an announcement confirming this offer. This would value Virgin Money stock at approximately $4.25 in Australian dollars. So it’s perhaps no surprise to see this bank climb towards that figure today.

The post 3 Australian shares quietly crushing the ASX today appeared first on The Motley Fool Australia.

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More reading

• Why Block, Core Lithium, Fisher & Paykel Healthcare, and Virgin Money are rising today
• 5 things to watch on the ASX 200 on Friday
• Got $500? 2 top Australian shares to buy and hold
• Why Arafura Rare Earths, Core Lithium, Goodman, and Superloop shares are falling today
• Why bond yields are bruising ASX property shares on Monday

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Goodman Group. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended Goodman Group. 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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