Why Charter Hall, Coronado Global, Meeka Metals, and Qantas shares are racing higher today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. At the time of writing, the benchmark index is up 0.4% to 8,694.5 points.

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

Charter Hall Group (ASX: CHC)

The Charter Hall share price is up 6% to $20.48. Investors have been buying the integrated diversified property investment and funds management company’s shares after it upgraded its guidance for FY 2026. Charter Hall now expects FY 2026 operating earnings of $1.03 per share, which is up from $1.00 per share previously. The company’s managing director and CEO, David Harrison, said: “Australia continues to attract institutional capital as a stable and highly dependable real asset market. We are seeing increased allocations from existing institutional investors alongside new domestic and offshore inflows seeking diversified exposures. The resilience of unlisted property returns, and inflation hedge characteristics continue to support strong investor demand, with Australia remaining a preferred destination for global capital.”

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global share price is up 20% to 25.7 cents. This has been driven by news that the coal miner has reached an agreement to sell its interest in the Logan Mining Complex located in the United States. While there is only expected to be a nominal cash consideration, management expects the transaction to be free cash flow positive through the elimination of ongoing holding costs and future obligations. Coronado Global’s interim CEO, Gerry Spindler, said: “This transaction represents a further step in streamlining Coronado’s portfolio and focusing on our high-quality core assets. The divestment transfers future obligations associated with Logan while enabling us to prioritise capital and operational focus elsewhere.”

Meeka Metals Ltd (ASX: MEK)

The Meeka Metals share price is up 15% to 13.2 cents. Investors have been buying the gold miner’s shares after it announced that ore development has commenced at Judy North. It notes that the previously unmined Judy North orebody has been accessed from the existing decline with ore development commencing in May and currently ramping up. The good news is that development grade is performing in line with expectations. Meeka’s managing director, Tim Davidson, said: “While Judy North is a new mining area with no previous development history, it clearly displays the same very high gold grades that are typical of the other active mining areas at Andy Well.”

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is up almost 5% to $9.10. Investors have been buying the airline operator’s shares after oil prices pulled back meaningfully. The catalyst for this has been optimism that the US and Iran could be close to signing a peace deal and reopening the Strait of Hormuz.

The post Why Charter Hall, Coronado Global, Meeka Metals, and Qantas shares are racing higher today appeared first on The Motley Fool Australia.

More reading

• Up 122% in a year, why is this ASX All Ords coal stock surging 19% on Monday?
• Guess which ASX 200 share is racing 5% higher after upgrading its earnings guidance
• Charter Hall lifts FY26 guidance as capital inflows surge
• Here’s the dividend forecast out to 2028 for Qantas shares
• 7 ASX shares with strengthened buy ratings this week

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 no position in any of the stocks mentioned. 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.