Here’s why these ASX shares are rising strongly today…
The post Why BlueScope, Japara, OZ Minerals, & Temple & Webster 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 record a solid gain. At the time of writing, the benchmark index is up 0.5% to 7,429.6 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
BlueScope Steel Limited (ASX: BSL)
The BlueScope share price is up 4.5% to $24.03. Investors have been buying the steel producer’s shares following the release of its preliminary full year results. That result revealed that BlueScope outperformed its second half EBITDA guidance. This led to the company achieving full year underlying EBITDA of ~$1.72 billion. Management advised that this was driven by both strong demand and pricing.
Japara Healthcare Ltd (ASX: JHC)
The Japara share price has jumped 18% to $1.38. The catalyst for this was news that the aged care operator has received a takeover offer from Calvary. The Catholic not-for-profit organisation has offered $1.40 cash per share. The Japara board has unanimously recommended shareholders vote in favour of the scheme.
OZ Minerals Limited (ASX: OZL)
The OZ Minerals share price has stormed 8% higher to $23.82. Investors have been buying the copper producer’s shares after the release of its second quarter update. OZ Minerals performed strongly during the quarter. This led to management making positive revisions to its FY 2021 guidance. It has increased its gold production guidance and reduced its cash costs guidance.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up 11% to $12.86 following the release of a strong full year result. According to the release, the online furniture and homewares retailer delivered an 85% increase in revenue to $326.3 million and a 141% jump in EBITDA to $20.5 million. This was driven by a strong increase in active customers, repeat use, and increased spending per active customer. The company also revealed that FY 2022 has started strongly, with revenue up 39% between 1 July and 24 July.
The post Why BlueScope, Japara, OZ Minerals, & Temple & Webster are storming higher appeared first on The Motley Fool Australia.
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*Returns as of May 24th 2021
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. owns shares of and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.