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Why Hub24, Sezzle, Telix, and Westpac shares are rising
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn't looked back since. James is part of the CFA Institute's Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
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The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday. In afternoon trade, the benchmark index is up 1.3% to 6,749.4 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
The Hub24 share price is up 14% to $25.20. Investors have been buying this investment platform provider's shares following the release of its quarterly update. According to the release, Hub24 recorded platform net inflows of $3 billion for the three months. This took its total funds under administration to $52.4 billion. This was driven by continued growth in the number of advisers on its platform.
The Sezzle share price is up over 7% to 51 cents. This morning the buy now pay later (BNPL) provider announced that it has entered into a new $100 million credit facility. Management notes that the facility provides Sezzle with greater capacity, improved flexibility, and extends its funding into 2024.
The Telix share price is up 9% to $6.09. Investors have been buying this biopharmaceuticals company's shares after it released promising preliminary data from two separate investigator-initiated studies. These studies were for TLX250-CDx in triple negative breast cancer and non-muscle invasive bladder cancer.
The Westpac share price is up almost 2% to $23.87. This morning Westpac confirmed that it is interested in acquiring payments processor Tyro Payments Ltd (ASX: TYR). The banking giant believes that acquiring Tyro would boost its small business offering. Though, it has warned that there's no guarantee that a deal will be reached.
