Here’s why IGO Ltd (ASX:IGO) and Jumbo Interactive Ltd (ASX:JIN) shares are two of four pushing notably higher on Friday…
The post Why IGO, IPH, Jumbo, & Whitehaven shares are pushing higher today appeared first on Motley Fool Australia. –
In late morning trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is on course to record a disappointing decline. The benchmark index is currently down 0.95% to 5,852.6 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:
The IGO Ltd (ASX: IGO) share price is up 2.5% to $4.50. This follows an announcement by the nickel producer that it is exploring options for its 30% holding in the Tropicana gold mine. It has received unsolicited enquiries regarding the asset and management is now looking into various opportunities to unlock value for shareholders.
The IPH Ltd (ASX: IPH) share price has climbed over 2% to $6.96 despite there being no news out of the intellectual property services company. The IPH share price has been a positive performer this week during the market volatility. Investors may be attracted to its defensive earnings and relatively modest valuation.
The Jumbo Interactive Ltd (ASX: JIN) share price has stormed 4% higher to $14.37. This gain could be in relation to the online lottery ticket seller benefiting from a series of large jackpots recently. In addition to this, with its shares almost halving in value from their 52-week high, investors may believe they are in the bargain bin at present.
The Whitehaven Coal Ltd (ASX: WHC) share price has climbed 3% to 87.2 cents. Investors have been buying the coal miner’s shares after a rise in the thermal coal price overnight. According to CommSec, the spot thermal coal price lifted by 1.9% to US$49.75 per tonne during overnight trade. Bargain hunters may also be swooping in on Friday. Even after today’s gain, the Whitehaven Coal share price is down a massive 75% from its 52 week high.
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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. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why IGO, IPH, Jumbo, & Whitehaven shares are pushing higher today appeared first on Motley Fool Australia.