In late trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small gain. The benchmark index is currently up 0.2% to 6,619.9 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:
Block Inc (ASX: SQ2)
The Block share price is up 3% to $96.15. This follows a similarly positive night of trade on Wall Street for its NYSE-listed shares. Investors may believe the Block share price has been oversold following a 60% decline since the start of the year.
Megaport Ltd (ASX: MP1)
The Megaport share price is up almost 7% to $6.57. A rebound in the tech sector and a bullish broker note out of Goldman Sachs could be behind this gain. In respect to the latter, this week the reiterated its buy rating with a $9.00 price target on the companyâs shares. This implies major upside potential even after todayâs gain.
Navigator Global Investments Ltd (ASX: NGI)
The Navigator Global share price is up 6% to $1.40. This follows the release of the asset managerâs latest asset under management (AUM) update. That update revealed that its AUM grew to US$22.9 billion at the end of June. This was driven by strong growth from its NGI Strategic portfolios, which reported a 9% increase in AUM.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 4% to $5.37. The catalyst for this appears to be a broker note out of Credit Suisse. Its analysts have upgraded their coal price forecasts to reflect stronger than expected prices. It believes this bodes well for Whitehaven Coal, which is the brokerâs top pick in the sector.
The post Why Block, Megaport, Navigator Global, and Whitehaven Coal shares are rising appeared first on The Motley Fool Australia.
3 Stocks for Runaway Inflation
As the world suffers price shocks⦠and the cost of everything seems to be ticking higherâ¦
These 3 ASX stocks could be the answer to runaway inflation. Boasting key qualities companies need to not only survive but actively thrive when costs surge.
Act fast â because in times of inflation, the worst thing you can do is⦠nothing.
Learn More
*Returns as of July 1 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- FY22 was a lousy period for ASX fintech shares. Here’s why
- These were the 5 top performing ASX energy shares of FY22
- ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall
- $264 million! The 10 highest-paid CEOs on the ASX
- Why did ASX coal shares leap 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. has positions in and has recommended Block, Inc. and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/1ZMnzp5
Leave a Reply