Why Appen, Endeavour, Imugene, and Treasury Wine shares are pushing higher

These ASX shares are defying market weakness and ending the week with a bang…

| More on:

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 afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.7% to 7,436.9 points.

Four ASX shares that aren't letting that stop them from climbing today are listed below. Here's why they are pushing higher:

Smiling man sits in front of a graph on computer while using his mobile phone.

Image source: Getty Images

Appen Ltd (ASX: APX)

The Appen share price is up 12% to $3.31. Investors have been buying this artificial intelligence data services company's shares despite there being no news out of the company. However, investors appear to be betting that significant investment in artificial intelligence from tech giants in response to the emergence of ChatGPT could underpin increased demand for Appen's services.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is up 2% to $6.79. This may have been driven by a broker note out of UBS. Its analysts have taken their sell rating off the drinks company's shares and upgraded them to a neutral rating with a $6.75 price target. UBS believes regulatory risks are now adequately priced in.

Imugene Limited (ASX: IMU)

The Imugene share price is up 11% to 15 cents. This follows news that the biotech company has been granted a patent in the United States. The patent relates to the company's B-cell activating immunotherapy PD1-Vaxx. It is currently in development for the treatment non-small cell lung cancer.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 2% to $14.41. A broker note out of Morgan Stanley appears to have given this wine giant's shares a boost. Its analysts highlight China's reopening and the easing of trade tensions as potential positives for Treasury Wine. In respect to the latter, Chinese officials have suggested that they could revisit at tariffs imposed on Australian wines.

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 positions in and has recommended Appen. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Evolution Mining, Mesoblast, Nufarm, and Virgin Australia shares are storming higher today

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

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face.
Share Gainers

3 ASX 200 shares tipped to climb another 35%

These shares have helped push the ASX 200 Index higher.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Boss Energy, Macquarie, Nova Minerals, and WiseTech shares are storming higher today

These shares are climbing more than most on Tuesday. What's going on?

Read more »

Green stock market graph with a rising arrow symbolising a rising share price.
Share Gainers

Guess which ASX mining stock is rocketing 80% today on huge Philippines news

This small-cap ASX mining stock is coming close to doubling its value today.

Read more »

Excited couple celebrating success while looking at smartphone.
Share Gainers

Why Monash IVF, Pro Medicus, Telix, and Woodside shares are storming higher today

These shares are starting the week in a positive fashion. But why?

Read more »

Man in a business suit leaps off a boulder in front of a blue sky.
Share Gainers

3 ASX 200 stocks surging 13% to 36% in this shortened trading week

Investors sent these three ASX 200 stocks flying higher following the Easter break. But why?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Amaero, Mesoblast, Telix, and Tivan shares are charging higher today

These shares are ending the week on a high. But why?

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Energy Shares

Up 635% in one year, guess which ASX energy share is rocketing again on Friday

Investors are bidding up this surging ASX energy share again today. But why?

Read more »