In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.5% to 9,154.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:
Ampol Ltd (ASX: ALD)
The Ampol share price is up 2% to $28.79. This follows the release of an update on its proposed acquisition of EG Australia. It revealed that the ACCC has competition concerns with 54 EG Australia sites. It adds: “Ampol and EG have an opportunity to respond to the matters raised by the ACCC and, under the current timeframe, the ACCC must issue a determination by 5 June 2026. Ampol remains confident in its position and will continue to work constructively with the ACCC to address the issues identified.”
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 7% to $9.60. This morning, this ASX defence stock announced that it has secured new remote weapon system (RWS) orders valued at approximately $17 million. It notes that the largest component is a US$12 million order for R400 RWS units from an established Middle Eastern government customer. The company also revealed that it has finalised a $100 million two-year secured term loan facility. This will support growth across the business, provide additional working capital, and help fund payments related to the acquisition of MARS.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas share price is up 5% to $20.00. This has been driven by news that Lynas has received a letter from the Malaysian Department of Atomic Energy confirming that the Lynas Malaysia operating licence has been renewed for 10 years. The company’s CEO, Amanda Lacaze, said: “Lynas welcomes the longer licence term which provides greater investment certainty for Lynas and for our rare earths supply chain partners and customers. On behalf of all Lynas employees, we thank the Malaysian Government for its attention to this matter and its support for the rare earths industry in Malaysia.”
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is up 4.5% to $29.60. Investors have been buying Woodside and other ASX energy shares on Monday after war in the Middle East sent oil prices racing higher. According to Bloomberg, in Asian trade, both Brent crude oil and WTI crude oil prices have jumped over 5.5%. Some analysts believe oil prices could creep towards US$100 a barrel if the war drags on.
The post Why Ampol, EOS, Lynas, and Woodside shares are roaring higher today appeared first on The Motley Fool Australia.
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More reading
- 5 of the best ASX 200 stocks to buy and hold in February revealed
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- Santos and Woodside shares surging higher on Monday as oil price in focus amid Iran strikes
- Buy, hold, sell: CSL, TechnologyOne, and Woodside shares
- Ampol updates investors as ACCC narrows focus on EG Australia deal
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.