Trick or treat? ASX shares that are keeping investors on toes today

Highlights

  • ASX 200 continued to trade in green on Tuesday despite losses in metals & mining shares.
  • The Australian market saw broad-based buying activities, tracking positive cues from Wall Street amid easing inflation fears.
  • Investors would also be closely keeping a tab on the Reserve Bank of Australia’s (RBA) minutes scheduled to be released today. 

ASX 200 continued to trade in green on Tuesday despite losses in metals & mining shares. The Australian market saw broad-based buying activities following firm cues from Wall Street amid easing inflation fears. Investors would also be closely keeping a tab on the Reserve Bank of Australia’s (RBA) minutes scheduled to be released today. Here, we discuss the ASX shares that are keeping investors on move due to their steep rise and fall today:

Lode Resources Ltd (ASX:LDR)

Shares of Lode Resources on Tuesday zoomed a whopping 120% to 33 cents a share following the latest drilling update from the microcap ASX explorer. Lode Resources was upbeat on its positive results from the maiden diamond drill program at its Webbs Consol Silver Project, situated in New South Wales. The explorer said that it found “significant” zinc, lead and copper mineralisation in drill cores. It expects that assays will unveil associated silver mineralisation from the core samples.

Lark Distilling Co Ltd (ASX:LRK)

Shares of Lark surged nearly 10% to an intra-day high of AU$5.60 on Tuesday following an update by whisky producer about its capital raising efforts. According to the ASX update, Lark announced that it had successfully completed the first tranche of its fully underwritten institutional placement. The company said that it had received strong interest from both existing institutional shareholders and new investors.

Brambles Ltd (ASX:BXB)

Brambles’ share price is up on Tuesday after the company released its first-quarter update for FY22. The stock surged as high as 1.5% to an intra-day high of AU$10.55. Highlights from Bramble’s today’s update are as follows:

  • Sales revenue was up 9% from the previous corresponding period at a constant exchange rate.
  • Brambles expects a revenue growth rate of between 5% and 7% throughout FY22.
  • Underlying profit growth of 1-2%, including US$50 million of short-term transformation costs.
  • Dividends to “be in line” with Bramble’s policy of paying out 45-60% of underlying profits.

ASX 200 continued to trade in the green on Tuesday despite losses in metals & mining shares.

Source: © Herrbullermann  | Megapixl.com

Tabcorp Holdings Ltd (ASX:TAH)

Tabcorp shares fell over 2% to an intra-day low of AU$5.08.

Shares of the gaming and wagering giant are in news after the company released a key update regarding its Q122 business activity and planned demerger. Tabcorp’s also announced its unaudited financial performance for the three months ended 30 September 2021.

Group revenue came in 7% lower than the prior quarter, with Keno revenue, in particular, taking a 19% hit on statewide venue closures due to the COVID-19 pandemic.

RELATED ARTICLE: Australia cranks up fight against COVID-19 with two new drugs

RELATED ARTICLE: A look at mid-cap real-estate stocks- CHC, CNI, GOZ

RELATED ARTICLE: Why PharmAust (ASX:PAA) buzzed on the ASX today

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK