The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. In afternoon trade, the benchmark index is up 0.85% to 8,754.3 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are storming higher:
DigiCo Infrastructure REIT (ASX: DGT)
The DigiCo Infrastructure REIT share price is up 22% to $2.89. This morning, the data centre company announced a binding agreement to sell its CHI1 facility in Chicago for US$750 million. This represents a 5% premium to its November 2024 purchase price. The sale is expected to complete in the first quarter of FY 2027. This will take its pro forma net debt to approximately $0.5 billion, while gearing is expected to drop from 36% to 17%. Management intends to redeploy capital into the SYD1 development in Sydney, which it describes as its most compelling growth opportunity. It may also look at returning funds to shareholders.
HMC Capital Ltd (ASX: HMC)
The HMC Capital share price is up 15% to $2.90. This follows the release of a business update from the investment company today. Management advised that fund management earnings are maintaining their growth trajectory and tracking to guidance. As a result, it has reaffirmed its pre-tax operating earnings per share guidance of greater than 40 cents per share. It has also reaffirmed its dividend guidance of 12 cents per share. That represents a 4.1% dividend yield at current prices.
Infratil Ltd (ASX: IFT)
The Infratil share price is up 12% to $11.77. This follows news that its 49.7%-owned data centre business, CDC, has signed Australia’s largest-ever data centre contract. It has agreed a 555MW deal with a US investment grade customer, taking total CDC contracted capacity to over 1 gigawatt. When fully deployed, management estimates that CDC’s total contracted capacity would deliver annualised EBITDA of approximately NZ$2 billion. Infratil’s CEO, Jason Boyes, said: “Today’s announcement underscores Australasia’s opportunity to attract global computing capacity, supported by regional stability, competitive build costs and access to renewable energy.”
Qantas Airways Ltd (ASX: QAN)
The Qantas Airways share price is up over 2% to $8.59. This appears to have been driven by a pullback in oil prices after Donald Trump signalled that progress is being made with a US-Iran peace deal. This would be good news for Qantas, especially given how fuel is the company’s largest expense.
The post Why DigiCo, HMC Capital, Infratil, and Qantas shares are taking off today appeared first on The Motley Fool Australia.
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More reading
- Why is this $10 billion ASX stock racing 12% higher today?
- Why this ASX data centre stock is rocketing over 20% today
- DigiCo Infrastructure REIT slashes debt after Chicago asset sale
- Infratil shares: CDC inks Australia’s largest data centre contract
- Should I buy CBA and Qantas shares this month?
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 HMC Capital. The Motley Fool Australia has recommended HMC Capital. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.