Not all shares are dropping lower with the market on Tuesday…
The post Why a2 Milk, Fortescue, Infomedia, & Talga shares are pushing higher appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) is on course to start the month on a poor note. At the time of writing, the benchmark index is down 0.3% to 7,139.4 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are pushing higher:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up 3% to $5.68. Investors have been buying this infant formula company’s shares after China announced that it will be changing its two-child policy. The Chinese government will now support couples who wish to have a third child in an effort to raise China’s fertility rate. This could be a boost to the infant formula industry in the lucrative market.
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price has risen 2.5% to $22.95. The catalyst for this has been a strong rise in the iron ore price during overnight trade. According to Metal Bulletin, the spot iron ore price climbed 4.4% to US$198.83 a tonne following a rise in Chinese steel prices.
Infomedia Limited (ASX: IFM)
The Infomedia share price has jumped over 12% to $1.52. This morning the software company announced the completion of the acquisition of United States-based e-commerce platform, SimplePart. It also revealed that it expects its revenue to come in between $95 million and $96 million and EBITDA between $19 million to $20 million in FY 2021.
Talga Group Ltd (ASX: TLG)
The Talga share price is up over 2% to $1.62. Investors have been buying the battery materials company following the positive conclusion of its two feasibility studies into the technical and commercial prospects of a Talga Anode Refinery in the UK. According to the release, the studies found that it is technically and economically feasible to refine and produce Talga anodes in the UK.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of May 24th 2021
The post Why a2 Milk, Fortescue, Infomedia, & Talga shares are pushing higher appeared first on The Motley Fool Australia.