In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. At the time of writing, the benchmark index is up 1.1% to 7,141.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
BHP Group Ltd (ASX: BHP)
The BHP share price is up 2% to $47.08. This follows confirmation that Woodside Petroleum Limited (ASX: WPL) shareholders have voted in favour of the merger with BHP’s petroleum operations. If all goes to plan, eligible BHP shareholders will be issued one new Woodside share for every 5.534 BHP shares they hold.
Chalice Mining Ltd (ASX: CHN)
The Chalice Mining share price is up 14% to $6.54. Investors have been buying this mineral exploration company’s shares after it revealed that it has received the final outstanding approvals to undertake low-impact exploration drilling at the Hartog-Dampier targets at the Julimar Nickel-Copper-PGE Project. These targets are located to the north of the globally significant Gonneville PGE-Ni-Cu-Co-Au deposit.
IGO Ltd (ASX: IGO)
The IGO share price is up 5% to $11.67. This has been driven by news that the battery materials company has achieved the first and consistent production of battery grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery. IGO described the news as an important milestone for the lithium joint venture between it and lithium giant Tianqi Lithium Corporation. IGO owns 49% of the joint venture.
Life360 Inc (ASX: 360)
The Life360 share price is up 10% to $3.83. A rebound in the tech sector and the release of this location technology company’s annual general meeting update has boosted its shares. That update reveals that the company continues to expect its core Life360 subscription revenue to grow more than 50% in FY 2022.
The post Why BHP, Chalice Mining, IGO, and Life360 shares are storming higher appeared first on The Motley Fool Australia.
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More reading
- Here’s why the Life360 share price has done a 180 today
- ASX 200 midday update: BHP, IGO, and Woolworths charge higher
- Here’s why the Chalice Mining share price is jumping 15% today
- BHP share price higher following Woodside shareholder merger approval
- IGO share price surges 7% higher on lithium update
Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. 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 Scott Phillips.
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