In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1.1% to 7,191.8 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:
Image source: Getty Images
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up 5% to $19.84. Investors have been buying this travel agent's shares amid optimism that the reopening of Australia's international borders will be a boost to its performance. Several other travel shares are charging higher with Flight Centre on Tuesday.
Macquarie Group Ltd (ASX: MQG)
The Macquarie share price is up 4% to $202.08. Investors have been buying the investment bank's shares following the release of its third quarter operational update. Macquarie revealed that it had a record quarter thanks to its market-facing Commodities and Global Markets and Macquarie Capital businesses. Their combined profit contribution was up "substantially" on the prior corresponding period.
Super Retail Group Ltd (ASX: SUL)
The Super Retail share price is up almost 3% to $12.50. This appears to have been driven by a broker note out of Ord Minnett. Its analysts upgraded this retailer's shares to an accumulate rating with a $14.50 price target. The broker believes consumer trends are favourable for Super Retail at present, which could pose upside risk to estimates.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is up 6% to $12.12. Investors have been buying this banking and insurance giant's shares following the release of its half year results. Suncorp reported a net profit after tax of $388 million. Although this was down 20.8% year on year, it was better than the market was expecting. According to a note out of Morgans, its analysts were expecting a first half net profit after tax of $300 million.
