In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 7,196.9 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Bendigo and Adelaide Bank Ltd (ASX: BEN)
The Bendigo and Adelaide Bank share price is up 6.5% to $9.63. Investors have been buying this regional bankâs shares following the release of a trading update. Bendigo Bank advised that for the five months ended 30 November, it recorded a 22% increase in unaudited cash earnings after tax to $245 million.
Block Inc (ASX: SQ2)
The Block share price is up 3.5% to $96.76. This follows a solid night of trade for the payments companyâs NYSE listed shares. They were pushing higher on Monday night after the tech sector on Wall Street rebounded. This tech rebound led to the Nasdaq index rising almost 1.3%.
Megaport Ltd (ASX: MP1)
The Megaport share price is up 5% to $7.07. This network as a service providerâs shares are rising on Tuesday after the aforementioned tech rebound on Wall Street spurred on the local tech sector. This has seen the S&P/ASX All Technology Index rise a solid 1% this afternoon.
Starpharma Holdings Limited (ASX: SPL)
The Starpharma share price is up 9% to 55 cents. Investors have been buying this dendrimer products developerâs shares following an update on AstraZenecaâs AZD0466 trial. According to the release, preliminary clinical trial results from the ongoing Phase 1/2 trial in patients with advanced relapsed/refractory leukaemia show that AZD0466 has been well tolerated. AZD0466 utilises Starpharmaâs DEP technology and is being developed by AstraZeneca under its multi-product license.
The post Why Bendigo Bank, Block, Megaport, and Starpharma shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Bendigo Bank share price surges 7% on earnings boost
- 3 incredible ASX tech stocks down over 50% to buy before the next bull market
- Here are the top 10 ASX 200 shares today
- Why Arafura, Megaport, Nitro, and Sayona Mining shares are storming higher today
- Why this one top fund manager is optimistic about 2023, and one little-known IPO that has hit it out of the park
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, Megaport, and Starpharma. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Block. The Motley Fool Australia has recommended Megaport and Starpharma. 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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