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Why a2 Milk, Fortescue, Infomedia, & Talga shares are pushing higher

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.

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More reading

ASX 200 down 0.5%: A2 Milk rises, Woolworths completes Quantium transaction

Why the Infomedia (ASX:IFM) share price is jumping 8% today
Why the a2 Milk (ASX:A2M) share price crashed 23% in May
5 things to watch on the ASX 200 on Tuesday

3 reasons why the A2 Milk (ASX:A2M) share price could still be a buy

The post Why a2 Milk, Fortescue, Infomedia, & Talga shares are pushing higher appeared first on The Motley Fool Australia.

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