In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.5% to 7,100.9 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are charging higher:
BHP Group Ltd (ASX: BHP)
The BHP share price is up 3% to $47.33. This follows a strong night of trade for the mining giantâs shares on Wall Street overnight. Investors appear to have been buying BHP and other miners on the belief that Chinaâs recovery from the pandemic will boost demand for commodities.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up over 6% to $1.18. This follows a rebound in the lithium industry on Friday. In addition, on Thursday, Core Lithium revealed that it has shipped 15,000 dry metric tonnes (dmt) of 1.4% Li2O spodumene Direct Shipping Ore (DSO) from the Finniss Lithium Operation to a customer in China. Core Lithium sold the lithium at a price of $US951 per dmt, which values the shipment at approximately US$14.25 million.
Santos Ltd (ASX: STO)
The Santos share price is up 2% to $7.04. Investors have been buying Santos and other energy shares on Friday after oil prices rebounded overnight. This has led to the S&P/ASX 200 Energy index rising 1.9% this afternoon.
Winsome Resources Ltd (ASX: WR1)
The Winsome share price is up 34% to $1.68. This has been driven by the release of a drilling update from this lithium explorer this morning. According to the release, Winsome Resources reported 1.34% Li2O over 107.6 metres at a hole from the Adina project in Quebec, Canada. This included high-grade intersections of up to 2.21% Li2O over 30.0 metres from 41.0 metres to 71.0 metres.
The post Why BHP, Core Lithium, Santos, and Winsome shares are charging higher appeared first on The Motley Fool Australia.
FREE Investing Guide for Beginners
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of January 5 2023
(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
- ASX 200 lithium shares lead the market higher on Friday
- Why ASX lithium share Winsome Resources is surging 22% today
- Is the party over for these ASX 200 energy shares in 2023?
- Here are the top 10 ASX 200 shares today
- Core Lithium share price higher on China shipment update
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 Scott Phillips.
from The Motley Fool Australia https://ift.tt/KPTAmlL
Leave a Reply