In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a gain. At the time of writing, the benchmark index is up 0.25% to 7,494 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price 3.5% to 14.5 cents. Investors have been buying this lithium explorer’s shares following the release of an update on its Rincon Lithium Project in Argentina. According to the release, Argosy has secured plant and equipment items for its 2,000tpa lithium carbonate production operation. This means it is on track to complete the construction phase during the first quarter of 2022.
Genworth Mortgage Insurance Australi Ltd (ASX: GMA)
The Genworth Mortgage Insurance Australia share price has jumped 7% to $2.27. This follows the release of the mortgage insurance company’s half year results. Genworth Mortgage Insurance Australia reported a 21.1% increase in gross written premium revenue to $289.7 million and a statutory net profit of $59.4 million. The latter compares to a $90 million net loss in the prior corresponding period.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price has rocketed 18% higher to $11.78. This morning the lithium developer revealed that its Zero Carbon Lithium Project will produce negative carbon emissions. The release explains that Vulcan has found the project will remove 2.9 tonnes of carbon dioxide from the atmosphere for every tonne of lithium hydroxide monohydrate produced.
Zip Co Ltd (ASX: Z1P)
The Zip share price is up a further 2.5% to $7.98. This latest gain means the buy now pay later (BNPL) provider’s shares are up 20% this week. The catalyst for this has been the acquisition of Afterpay Ltd (ASX: APT) by Square. This has sparked hopes that Zip might become a takeover target as well. Particularly given recent speculation that Klarna has been building a strategic position in the company.
The post Why Argosy Minerals, Genworth, Vulcan, & Zip shares are charging higher appeared first on The Motley Fool Australia.
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More reading
- Square earnings, what it means for the Afterpay (ASX:APT) share price?
- Here’s why the Vulcan (ASX:VUL) share price is rocketing 11% higher
- The Zip (ASX:Z1P) share price is zooming higher once more
- Here’s why the Argosy (ASX:AGY) share price is climbing today
- Afterpay share price keeps climbing. RBA surprisingly bullish. Scott Phillips on Nine’s Late News
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. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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