In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to continue its winning run. At the time of writing, the benchmark index is up 0.25% to 7,534.3 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
BHP Group Ltd (ASX: BHP)
The BHP share price is up almost 3% to $51.93. Investors have been buying BHP and other mining shares today following a rise in base metal and oil prices overnight. This has helped drive the S&P/ASX 200 Resources index 1.6% this afternoon.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 9% to $1.38. Investors have been buying this lithium developer’s shares following the release of drilling results from the Bilatos prospect at its Finniss Lithium Project. According to the release, most holes intersected significant lithium grades and consistent thicknesses of pegmatite in the first drilling.
Tabcorp Holdings Limited (ASX: TAH)
The Tabcorp share price is up 3% to $5.37. This follows the release of a demerger update by the gambling company. Tabcorp intends to spin off its lotteries business with a separate share market listing. Shareholders will be given one new share in the lotteries business for every Tabcorp share they own. The board determined that the demerger is the most certain and timely path to maximise value for shareholders.
Talga Group Ltd (ASX: TLG)
The Talga share price has jumped 19% to $1.70. This morning the battery technology company announced that it has successfully commissioned its electric vehicle anode qualification plant located in Northern Sweden. This is considered to be Europe’s first ultra-low emission battery anode production facility.
The post Why BHP, Core Lithium, Tabcorp, and Talga shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- Talga (ASX:TLG) share price rockets 17% on EV battery news
- ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
- Are these ASX 200 mining shares in trouble?
- The BHP share price is up 4% and close to a record high
- Why is the Core Lithium (ASX:CXO) share price up 6% to a record high?
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 Bruce Jackson.
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