Insights

Why Alliance Aviation, Amcor, Core Lithium, and QBE shares are storming higher

These ASX shares are having great days…
The post Why Alliance Aviation, Amcor, Core Lithium, and QBE shares are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to snap its losing streak. At the time of writing, the benchmark index is up 0.75% to 7,360 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Alliance Aviation Services Ltd (ASX: AQZ)

The Alliance Aviation share price is up 22% to $4.28. Investors have been buying this fly-in, fly-out operator’s shares after it agreed to be taken over by Qantas Airways Limited (ASX: QAN). Australia’s flag carrier airline has offered one Qantas share per Alliance share. This represents a 35% premium to the $3.51 Alliance share price at yesterday’s close and values Alliance at an enterprise value of $919.2 million.

Amcor (ASX: AMC)

The Amcor share price is up 5.5% to $17.66. This follows a positive response to the packaging company’s third-quarter update from brokers. For example, Morgans was pleased with its stronger than expected earnings per share and retained its add rating and lifted its price target on Amcor’s shares to $18.60.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has jumped over 6% to $1.28. A number of lithium miners are charging higher today following a stellar night of trade on Wall Street for lithium miners. This was driven by a very strong quarterly result from Livent. It reported a huge jump in profits, which led to its shares surging 30% higher overnight.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is up over 4% to $12.54 following the release of a performance update. That update revealed that the insurance giant delivered 19% growth in gross written premium during the third quarter. The company also advised that its renewal rate increases averaged 7.9% during the period.

The post Why Alliance Aviation, Amcor, Core Lithium, and QBE shares are storming higher appeared first on The Motley Fool Australia.

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 over ten 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 January 12th 2022

More reading

QBE share price lifts despite potential $100m impact of Ukraine conflict
What will the lithium price be in 2025?
Alliance share price rockets 24% on Qantas takeover news
Top brokers explain why not all ASX lithium shares are created equal
Core Lithium share price gives up early gains to close 5% lower

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 positions in and has recommended Alliance Aviation Services Ltd. The Motley Fool Australia has positions in and has recommended Alliance Aviation Services Ltd. and Amcor Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!