Why A2 Milk, HUB24, Netwealth & Perseus shares are storming higher

These ASX shares are on form on Thursday…

| More on:
share price rise

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) is back on form and charging higher on Thursday. In afternoon trade, the benchmark index is up 1.1% to 7,352.8 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 3.5% to $6.81. This infant formula company's shares were given a boost this week by a positive update from Bubs Australia Ltd (ASX: BUB). That update revealed strong sales growth during the first quarter, which appears to indicate that the worst could be behind the infant formula market.

HUB24 Ltd (ASX: HUB)

The HUB24 share price is up 9% to $31.27. This follows the release of the investment platform provider's first quarter update this morning. According to the release, HUB24 achieved record net inflows of $3 billion for the three months ended 30 September. As a result, at the end of the period, total FUA reached $63.2 billion.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price has jumped 16% to $16.55. As with HUB24, this strong gain has been driven by the release of this investment platform provider's first quarter update. According to the release, Netwealth reported record net inflows of $4 billion for the quarter. This took Netwealth's FUA to $52 billion, which represents an increase of 10.2% for the quarter.

Perseus Mining Limited (ASX: PRU)

The Perseus Mining share price is up almost 10% to $1.70. Investors have been buying the gold miner's shares following the release of an update on exploration activities at its Yaouré Gold Mine on the Ivory Coast. The release reveals that recent results from infill drilling at Yaouré confirm strong potential for further mineral resources beneath the currently operating CMA open pit.

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. owns shares of and has recommended Hub24 Ltd and Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool Australia has recommended A2 Milk and Hub24 Ltd. 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

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.
Share Gainers

Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Share Gainers

3 ASX 300 shares going gangbusters on Wednesday

Investors are bidding up these three ASX 300 shares today. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a huge Tuesday for ASX shares, with the index resetting its record high.

Read more »