Why Cettire, Dexus Industria, Pilbara Minerals, and Zip shares are jumping today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.8% to 7,641.2 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are jumping:

Cettire Ltd (ASX: CTT)

The Cettire share price is up 23% to $3.90. Investors have been buying this online luxury products retailer’s shares following the release of its half year results. Cettire reported a 90% jump in gross revenue to $460.5 million and a 56% increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to $26.1 million.

Dexus Industria REIT (ASX: DXI)

The Dexus Industria share price is up almost 5% to $2.91. This morning, the industrial property company released its half year results and reported like-for-like income growth of 7.3%. Management believes this leaves it “on track to deliver FY24 guidance.” This will mean FFO of 17.1 cents per share and distributions of 16.4 cents per share.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 7% to $3.62. This follows news that the lithium miner has signed an extension to its agreement with China-based lithium converter Chengxin Lithium Group. The agreement will see the company supply an additional 60,000 tonnes for a total of 85,000 of spodumene concentrate in 2024. And for both 2025 and 2026, it will supply 150,000 tonnes of spodumene concentrate.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 14% to 89.5 cents. Investors have been scrambling to buy the buy now pay later provider’s shares amid speculation that it is a takeover target. According to The Australian, there is “talk in the market” that Zip may be the subject of takeover interest after making waves with its profitability goals. Zip advised that it hasn’t received any offers.

The post Why Cettire, Dexus Industria, Pilbara Minerals, and Zip shares are jumping today appeared first on The Motley Fool Australia.

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More reading

• Zip share price rises as investors buy now on takeover talk
• 7 ASX lithium shares going gangbusters today
• Pilbara Minerals share price jumps 5% on material offtake extension
• 4 high-profile ASX REITS charging higher on half-year results
• Cettire share price rockets 40% on ‘exceptional result’

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 Zip Co. The Motley Fool Australia has recommended Cettire. 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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