In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has returned to form and is racing higher. At the time of writing, the benchmark index is up 0.9% to 7,043.6 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price is up 3% to 32.5 cents. This morning the lithium developer released its second update on its Rincon project in Argentina in as many days. Yesterday it revealed that it has completed the brine systems work, whereas today it has taken delivery of German manufactured dryer/evaporator and vibrator equipment. This is the third update of its kind this month.
Block Inc (ASX: SQ2)
The Block share price is up 5% to $140.53. This follows a positive day of trade in the tech sector after a solid night on the tech focused Nasdaq index. It isn’t just Block’s shares that are rising today. The S&P ASX All Technology index is up by 2% at the time of writing.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 6% to 93.5 cents. This morning the lithium developer released an update on its drilling activities at the Carlton deposit of the Finniss Lithium Project near Darwin. The release notes that eight of the nine holes intersected spodumene bearing pegmatite mineralisation. Management expects this to underpin an upgrade to the mineral resource of the project.
Mineral Resources Limited (ASX: MIN)
The Mineral Resources share price is up 3.5% to $47.45. Investors have been buying this mining and mining services company’s shares following a positive broker note out of Citi. According to the note, the broker has upgraded the company’s shares to a buy rating with a $58.00 price target. This follows an upgrade to Citi’s near term commodity price forecasts.
The post Why Argosy Minerals, Block, Core Lithium, and Mineral Resources are storming higher appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- What’s the difference between lithium hydroxide and spodumene and which ASX shares are involved with each one?
- Here’s why the Core Lithium (ASX:CXO) share price is shooting 9% higher today
- Up 250% in a year, why the Argosy Minerals (ASX:AGY) share price is charging higher today
- Glitch! Why are ASX tech shares getting hammered on Monday?
- Why Block, GQG, Qantas, and Unibail-Rodamco-Westfield are sinking 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 Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/cJzhPr9
Leave a Reply