Why AVZ, Flight Centre, Fortescue, & Sigma shares are storming higher

These ASX shares are rising on Monday…

| More on:
chart showing an increasing 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

The S&P/ASX 200 Index (ASX: XJO) has started the week on a positive note. In afternoon trade, the benchmark index is up 0.75% to 7,398.5 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are storming higher:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price has jumped 11.5% to 35.7 cents. This morning the lithium developer announced a transaction implementation agreement with Suzhou CATH Energy Technologies (CATH). The agreement will see CATH pay US$240 million in cash for a 24% equity interest in a multi-faceted joint venture to develop the Manono Lithium and Tin Project. CATH will also contribute its pro rata portion of funding for the development of the project.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 7% to $21.22. Investors have been buying Flight Centre and other travel shares today. This appears to have been driven by a positive reaction to New South Wales' roadmap out of lockdown. These plans could be a boost to travel markets.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has risen 4% to $15.98. The catalyst for this was a rebound in the iron ore price on Friday night. According to Metal Bulletin, the spot benchmark iron ore price rose 2.4% to US$111.33 a tonne. Investors appear optimistic that this could mean the worst is over for the iron ore price.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma share price is up 3% to 61 cents. Investors have been buying Sigma's shares after it tabled a takeover offer for rival pharmacy chain operator and distributor Australian Pharmaceutical Industries Ltd (ASX: API). Sigma has offered $1.57 per share in cash and shares. This compares to a $1.55 per share offer from Wesfarmers Ltd (ASX: WES). The API board has granted Sigma due diligence to facilitate a binding offer. It believes the offer is more favourable to shareholders.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Flight Centre Travel Group 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 Gainers

Excited group of friends sitting on sofa watching sports on TV and celebrating.
Share Gainers

Why Boss Energy, Neuren, Strickland, and Vulcan shares are pushing higher today

These shares are having a better day than most today. But why?

Read more »

Woman holding gold bar and cheering.
Gold

Up 200% in 2025, guess which ASX gold stock is surging 11% again today

Investors are sending the ASX gold stock soaring again today. But why?

Read more »

Man with backpack spreading his arms out and soaking in the sun.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a volatile start to the week for the ASX share market...

Read more »

Rising share price chart.
Share Gainers

Why Canyon Resources, Nufarm, Paladin Energy, and WiseTech shares are charging higher today

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

Read more »

Man with rocket wings which have flames coming out of them.
Gold

Guess which ASX gold stock just rocketed 167% on big news!

Investors are sending the ASX gold stock flying higher on Monday. Let’s find out why.

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

Up 34% since April, ASX 300 healthcare stock lifts off again today on new milestone

The ASX 300 healthcare stock has been on a tear since hitting one-year lows in April.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »