IHL, TPW, LFS: 3 ASX All Ordinaries shares that jumped over 7% yesterday

July 22, 2022 09:18 AM AEST | By Ashish

IHL, TPW, LFS: 3 ASX All Ordinaries shares that jumped over 7% yesterday — Image source: ©Miflippo | Megapixl.com

Highlights

The ASX 200 ended in the red after trading on a weak note for most part of the session on Thursday.

The ASX All Ordinaries index gained 0.62% or 43.20 points to end at 7,018.40 points.

There were a few shares which managed to rise as high as 14%.

Australian shares finished Thursday on a robust note, mainly boosted by last hour buying. While the benchmark ASX 200 index traded in the red for most part of the session, it ended 0.52% or 35.10 points higher to end the day at 6,794.30 points. Similarly, the ASX All Ordinaries, which is the oldest index of shares in Australia, gained 0.62% or 43.20 points to end at 7,018.40 points. Despite the erratic movement on the index during the day, there were a few shares which managed to rise as high as 14%.

Here we see why these three ASX All Ordinaries shares leapt more than 7% on Thursday.

Incannex Healthcare Ltd (ASX:IHL)

Incannex Healthcare develops medical cannabinoid products. The share price of IHL ended with a gain of 14.29% at AU$0.24 on Thursday after a positive price-sensitive announcement.

The company informed the ASX that it had received an approval from the ethics committee for a phase one clinical study which involved its proprietary anti-inflammatory drug IHL-675A. The approval was granted by the Bellberry Human Research Ethics Committee (HREC).

Temple & Webster Group Ltd (ASX:TPW)

Temple & Webster is an Australia-based online retailer of furniture and homewares. The share price of TPW closed on Thursday with a gain of 8.43% at AU$3.86 despite no major news coming out of the company.

While the company has not released any major price-sensitive news in the last three months, the latest rise in share price may be on account of recent gains in retail and consumer cyclical shares.

Latitude Group Holdings Ltd (ASX:LFS)

Latitude Group Holdings operates in the instalments and lending business sector. On Thursday, the share price of LFS ended with a gain of 7.59% at AU$1.70.

While the ASX-listed firm didn’t release any price sensitive update yesterday, its shares may have gained on account of the recent announcement by the company that it had abandoned its plan to merge with Humm Group Ltd (ASX:HUM).

“In light of the current major disruption in financial markets, Latitude and Humm have mutually agreed to terminate the proposed sale of humm consumer finance (HCF) to Latitude,” LFS said.

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