In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a positive note. At the time of writing, the benchmark index is up 0.6% to 7,037.4 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up over 2.5% to 77.5 cents. This morning the lithium developer announced the purchase of six granted mineral leases that include over 30 historic pegmatite mines. Management notes that the acquisition adds significant value to the Finniss Project, enabling the acceleration of resource and mine-life expansion objectives.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is up 2% to $14.10. This follows the release of the IT distributor’s full year results. For the 12 months ended 31 December, Dicker Data reported a 24.2% increase in revenue to $2,484.5 million and a 28.6% jump in net profit after tax to $73.6 million. This was driven by the digital transformation, which is being accelerated by the adoption of technology as businesses experienced a changing work environment with global and national lockdowns.
GrainCorp Ltd (ASX: GNC)
The GrainCorp share price is up 6.5% to $8.52. Investors have been buying the grain exporter’s shares despite there being no news out of it. However, it appears as though investors may believe GrainCorp will benefit from sanctions being placed on Russia. After all, Russia is one of the world’s largest grain exporters.
InvoCare Limited (ASX: IVC)
The InvoCare share price is up 4.5% to $12.92. This follows the release of the funerals company’s full year results. For the 12 months ended 31 December, InvoCare reported an 11% increase in revenue to $532.5 million and a 51% jump in operating earnings per share to 31.6 cents. This was driven by a recovery in key value drivers and a robust improvement in the mark-to-market valuation of Prepaid Funds Under Management.
The post Why Core Lithium, Dicker Data, GrainCorp, and InvoCare shares are rising appeared first on The Motley Fool Australia.
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More reading
- InvoCare (ASX:IVC) share price jumps as earnings surge 22%
- ‘Significant growth trajectory’: Dicker Data (ASX:DDR) share price rises following strong full year results
- ASX 200 (ASX:XJO) midday update: Zip to buy Sezzle for $491m, GrainCorp storms higher
- ‘Adding significant revenue’: Dicker Data (ASX:DDR) share price edges higher on takeover announcement
- Why is the Dicker Data (ASX:DDR) share price frozen today?
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 and has recommended Dicker Data Limited. The Motley Fool Australia owns and has recommended Dicker Data Limited. 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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