Insights

Why AMP, Bubs, BWX, & Lynas shares are pushing higher

AMP Ltd (ASX:AMP) and BWX Ltd (ASX:BWX) are two of four ASX shares that are pushing higher despite the market selloff on Friday…
The post Why AMP, Bubs, BWX, & Lynas shares are pushing higher 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 on a hugely disappointing note. At the time of writing, the benchmark index is down 2.35% to 6,673.3 points.

Four ASX shares that have defied the selloff are listed below. Here’s why they are pushing higher:

AMP Ltd (ASX: AMP)

The AMP share price is up over 3.5% to $1.45. Investors have been buying the financial services company’s shares after it announced a potential joint venture with Ares Management. The two companies have signed a non-binding Heads of Agreement to form a $2.25 billion joint venture which will see Ares inject up to $1.55 billion in cash into AMP.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has pushed 4% higher to 57.2 cents following its half year results release. The infant formula company reported a 33% decline in revenue to $18.3 million and a loss before tax of $17.1 million.  It appears as though investors were expecting an even worse result. Looking ahead, Bubs is expecting a modest improvement in the second half compared to the first.

BWX Ltd (ASX: BWX)

The BWX share price has jumped 11.5% to $4.48 after reporting its half year results this morning. The personal care products company reported a 0.6% increase in revenue to $84.5 million and a 133.1% jump in net profit after tax to $9.9 million. However, it is worth noting that its profit was boosted by a one-off benefit of $5.8 million. This relates to the final consideration payable under the Egide Compensation Plan to the sellers of the Andalou Naturals business.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 2% to $5.78. Investors have been buying the rare earths producer’s shares after it reported a surge in first half profits. For the six months ended 31 December, Lynas reported a 12.4% increase in revenue to $202.5 million and an 82% jump in EBITDA to $80.6 million. Management also spoke positively about the future, commenting that “Lynas has a unique position in an exciting market.”

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. owns shares of BUBS AUST FPO. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended BUBS AUST FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why AMP, Bubs, BWX, & Lynas shares are pushing 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!