Why AGL, Clover, QBE, & Volpara shares are pushing higher today

AGL Energy Limited (ASX:AGL) and QBE Insurance Group Ltd (ASX:QBE) are two of four ASX shares pushing higher despite the market selloff…
The post Why AGL, Clover, QBE, & Volpara shares are pushing higher today appeared first on The Motley Fool Australia. –

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 6,713.7 points.

Four ASX shares that have not let that hold them back are listed below. Here’s why they are pushing higher:

AGL Energy Limited (ASX: AGL)

The AGL share price is up over 1.5% to $9.60. This morning the energy company announced that it has finalised a new agreement to supply a proportion of the electricity requirement of the Portland Smelter aluminium smelter until July 2026. The agreement will take effect from 1 August 2021 when the existing supply contract ends. AGL advised that the new contract represents a mutually beneficial outcome on commercial terms, for a volume of 275 MW.

Clover Corporation Limited (ASX: CLV)

The Clover share price has jumped 9% to $1.80 despite there being no news out of the specialty ingredients company. However, earlier this week, analysts at UBS upgraded the company’s shares to a buy rating with a $2.00 price target. The broker believes that it could be a good COVID-19 recovery play for investors. Clover’s performance has been hit hard by subdued demand for infant formula ingredients during the pandemic.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price has climbed 3% to $9.95. Investors have been buying the insurance company’s shares after bond yields surged higher during overnight trade in the United States. Rising bond yields are good news for QBE as, like most insurers, the company invests heavily into fixed interest securities like bonds.

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price has risen 2% to $1.32. Investors have been buying this healthcare technology company’s shares following a positive broker note out of Morgans this morning. In response to a recent contract win, Morgans has retained its add rating and lifted its price target to $1.94.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends VOLPARA FPO NZ. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited. The Motley Fool Australia has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why AGL, Clover, QBE, & Volpara shares are pushing higher today appeared first on The Motley Fool Australia.

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