Why AMP, Champion Iron, EOS, & Vulcan shares are storming higher

Here's why AMP Ltd (ASX:AMP) and Vulcan Energy Resources Ltd (ASX:VUL) shares are two of four storming higher today…

| More on:
three building blocks with smiley faces, indicating a rise in the ASX share price

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 early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is having a subdued day. At the time of writing, the benchmark index is flat at 7,094.7 points.

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

AMP Ltd (ASX: AMP)

The AMP share price is up 3.5% to $1.10. This is despite the financial services company revealing that ASIC has commenced civil proceedings against it in the Federal Court. This is in relation to alleged breaches concerning the deduction of life insurance premiums and advice service fees from the superannuation accounts of deceased customers.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price has risen 4% to $6.84 following the release of its full year results. The iron ore miner reported full year revenue of C$1,281.8 million and EBITDA of C$819.5 million. This was up 63% and 136%, respectively, over the prior corresponding period. A strong rise in the iron ore price played a key role in its bumper profit growth.

Electro Optic Systems Hldg Ltd (ASX: EOS)

The Electro Optic Systems share price is up 4% to $4.09. This morning the communications, defence, and space company announced a cooperation agreement with Diehl Defence. This agreement will facilitate greater commercial collaboration between the two companies. They will initially focus on the area of advanced stabilised and remotely operated weapon systems (RWS) for the European and NATO markets.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price is up 3% to $7.36. Investors have been buying the lithium explorer's shares after it provided an update on its pilot lithium extraction plant. According to the release, Vulcan's pilot plant team has achieved target specification for direct lithium extraction (DLE) feed into its pilot plant. This ultimately led to the team achieving a target recovery of greater than 90% for lithium chloride from Upper Rhine Valley brine.

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 Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Contented looking man leans back in his chair at his desk and smiles.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these stocks.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

2 of the best ASX shares to buy in 2025

Bell Potter is feeling bullish on these shares as the new year approaches.

Read more »

A happy man and woman on a computer at Christmas, indicating a positive trend for retail shares.
Share Market News

5 things to watch on the ASX 200 on Tuesday

Will the market give investors a little Christmas present today?

Read more »

Young boy in business suit punches the air as he finishes ahead of another boy in a box car race.
Opinions

Why I think these 2 ASX 300 stocks will beat the market in 2025

I’m very optimistic about a few ASX growth shares.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why EML, GQG Partners, IGO, and Integrated Research shares are sinking today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of…

Read more »

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

Why EOS, News Corp, Polynovo, and Pro Medicus shares are roaring higher today

These shares are starting the week positively. But why?

Read more »

A couple stares at the tv in shock, one holding the remote up ready to press.
Mergers & Acquisitions

Telstra share price climbs amid $3.4b Foxtel sale

Who is buying the Foxtel business? Let's find out.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Share Market News

Brokers say these ASX 200 growth stocks could rise 50% to 70%

Analysts think these shares could be dirt cheap and destined to generate big returns.

Read more »