The S&P/ASX 200 Index (ASX: XJO) is on course to bounce back from yesterday’s decline. In late morning trade, the benchmark index is up 0.25% to 6,839.5 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:
Computershare Ltd (ASX: CPU)
The Computershare price is 2% higher at $14.62. This follows the release of its first half results after the market close on Tuesday. The administration services company reported a 3.2% decline in management revenue to $1.1 billion and a 25% decline in net profit after tax to $117.8 million. This was ahead of expectations and led to Computershare upgrading its guidance for the full year.
Insurance Australia Group Ltd (ASX: IAG)
The Insurance Australia Group share price is up 4.5% to $5.28. Investors have been buying the insurance giant’s shares following the release of a better than expected half year result. It reported a 3.8% increase in gross written premiums (GWP) to $6,188 million for the first half. And thanks to lower motor claims, the company delivered a sizeable 33.1% increase in insurance profit to $667 million. And while it posted a statutory loss after tax of $460 million, this didn’t stop the board from declaring a 7 cents per share interim dividend.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 3% to $12.26 following the release of its half year results. For the six months ended 31 December, the gold miner delivered a record underlying half year net profit after tax of $194.4 million. This was up 63% from the prior corresponding period. This was driven by gold sales coming in at the upper end of its guidance range at 480,431 ounces.
PointsBet Holdings Ltd (ASX: PBH)
The PointsBet share price is up 4.5% to $16.64. Investors have been buying the sports betting company’s shares after it announced a multi-year strategic partnership with the NHL. The agreement will see the ice hockey league name PointsBet as an “Official Sports Betting Partner.” As part of the partnership, PointsBet receives rights to use NHL marks and logos, as well as a variety of NHL sponsorship and promotional opportunities for its brand across various linear, digital, and social media assets.
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Returns as of 6th October 2020
More reading
- Here’s why the Northern Star (ASX:NST) share price is climbing today
- Here’s why the PointsBet (ASX:PBH) share price is surging 6% higher
- Why the Insurance Australia Group (ASX:IAG) share price is charging higher
- Computershare (ASX:CPU) share price on watch after better than expected half year result
- 5 things to watch on the ASX 200 on Wednesday
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Computershare, IAG, Northern Star, & PointsBet shares are pushing higher appeared first on The Motley Fool Australia.
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