Why Accent, AMP, De Grey, & Nuix shares are charging higher

Here’s why Accent Group Ltd (ASX:AX1) and Nuix Ltd (ASX:NXL) are two of four ASX shares charging notably higher on Friday…
The post Why Accent, AMP, De Grey, & Nuix shares are charging higher appeared first on The Motley Fool Australia. –

Chalk-drawn rocket shown blasting off into space

In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small daily decline. At the time of writing, the benchmark index is down 0.15% to 7,045.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Accent Group Ltd (ASX: AX1)

The Accent share price has jumped 6.5% to $2.77. The catalyst for this was news that the retailer has signed an agreement to acquire Glue Store and the wholesale and distribution brands of Next Athleisure for a cash consideration of $13 million. Glue Store operates a network of 21 stores and an integrated online site, with around 500,000 loyalty program members. It currently generates annual sales of approximately $90 million, including $16.6 million of online sales.


The AMP share price is up 1.5% to $1.15. Investors have been buying the financial services company’s shares after it announced demerger plans. AMP revealed that it intends to pursue a demerger of AMP Capital’s Private Markets business. It believes the demerger will create two focused businesses that are better equipped to pursue and allocate capital to distinct growth opportunities.

De Grey Mining Limited (ASX: DEG)

The De Grey Mining share price is up almost 10% to $1.46. Investors have been buying the gold exploration company’s shares following the release of drilling results. According to the release, strong mineralisation has been intersected at its Aquila and Crow sites. In respect to the latter, visible gold was intersected again in the McLeod lode at Crow.

Nuix Ltd (ASX: NXL)

The Nuix share price is pushing 5.5% higher to $4.53. This gain appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating but trimmed its price target to $7.50. Although its guidance downgrade was disappointing, Morgan Stanley remains positive. It feels the global forensic and investigative software market is a structural growth story.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Accent Group and Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Accent, AMP, De Grey, & Nuix shares are charging higher appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!