Why ALS, BlueScope, FlexiGroup, & Perpetual shares are charging higher

BlueScope Steel Limited (ASX:BSL) and FlexiGroup Limited (ASX:FXL) shares are two of four charging notably higher on Thursday…

| More on:
Green dollar sign rocket on the back of a man.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In late morning trade on Thursday the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and looks set to end its winning streak. The benchmark index is currently down 0.4% to 6,505.2 points.

Four shares that are not letting that hold them back are listed below. Here's why they are charging higher:

ALS Ltd (ASX: ALQ)

The ALS share price is up 8% to $10.23 a day after the release of its half year results. The catalyst for this appears to have been a positive reaction to its results from a number of brokers. One that was particularly positive was Macquarie. In response to the release, the broker has retained its outperform rating and lifted the price target on its shares to $10.65.

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price has stormed 5.5% higher to $17.78. This follows the release of its updated guidance for the first half of FY 2021. According to the release, underlying earnings before interest and tax (EBIT) is expected to be approximately $475 million for the half. This includes the contribution made from the recent industrial warehouse property sale. The new guidance represents a rise of 80% over the second half of FY 2020.

FlexiGroup Limited (ASX: FXL)

The FlexiGroup share price has jumped 9% higher to $1.17. Investors have been buying the financial services company's shares after it announced a deal with Mastercard for its bundll buy now pay anywhere product. In addition to this, the company revealed that it expects its first half cash net profit after tax to be ahead of the $34.5 million it achieved in the prior corresponding period.

Perpetual Limited (ASX: PPT)

The Perpetual share price is up 4% to $31.41. This appears to have been driven by a broker note out of Morgan Stanley. In response to the completion of its acquisition of Barrow Hanley, the broker has retained its overweight rating but trimmed its price target on the fund manager's shares to $42.50.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended FlexiGroup 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.

More on Share Gainers

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the week this Monday.

Read more »

Crude oil barrels rocketing.
ETFs

Why did the BetaShares Crude Oil ETF just spike 4%?

This ETF is attracting buyers in today's seller's market.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why BWP, Metcash, Resolute Mining, and SHAPE shares are pushing higher today

These shares are starting the week on a positive note. But why?

Read more »

Workers at the port joyfully jump high in the air with shipping containers in the background.
Industrials Shares

$10,000 invested in Austal shares a year ago is now worth…

Austal is an Australian shipbuilding company founded in 1988 that builds ships for the US Navy.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Betr, Centuria Capital, GR Engineering, and Mach7 shares are pushing higher

These shares are having a good finish to the week. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX gave up an afternoon lead to close lower today.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Clarity Pharmaceuticals, Kelsian, Life360, and Syrah shares are rising today

These shares are pushing higher on Thursday. But why?

Read more »