Why AUB, Austal, Core Lithium, and Xero shares are pushing higher

These ASX shares are having a strong finish to the week.

| More on:

Should you invest $1,000 in Alphabet right now?

Before you buy Alphabet shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Alphabet wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

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

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) looks set to end the week in style. In afternoon trade, the benchmark index is up 0.7% to 7,286.1 points.

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

AUB Group Ltd (ASX: AUB)

The AUB share price is up 7% to $27.77. Investors have been buying the insurance broker's shares after it completed an institutional placement. While a capital raising usually sends a share crashing lower, this one has had the opposite effect. Investors appear pleased with an earnings guidance upgrade which accompanied the announcement and the reason behind the capital raising.

Austal Ltd (ASX: ASB)

The Austal share price is up 25% to $1.99. This has been driven by news that the shipbuilder has been awarded a major contract by the US government. The cumulative value of the contract would come to US$3.2 billion (AU$4.8 billion) if all options are exercised. This is a major confidence boost given the recent indictment of three former Austal USA employees by the United States Department of Justice.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 6% to $1.17. This morning, the lithium miner announced that its board has approved the capital expenditure for the early works of the BP33 underground project. Core Lithium expects to spend a total of $45 million to $50 million on the early development of the next proposed mine at the Finniss project.

Xero Limited (ASX: XRO)

The Xero share price is up a further 4% to $106.97. This cloud accounting platform provider's shares have been on fire since the release of its full-year results. They have also been given a boost today from a few bullish broker notes. One of those came from Goldman Sachs, which has retained its buy rating with an improved price target of $130.00.

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Austal and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Aub Group. 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

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »

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

Why Boss Energy, Capstone, Dimerix, and Platinum shares are storming higher today

These shares are having a good finish to the week. Let's find out why.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

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 over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

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

Read more »

Three happy team mates holding the winners trophy.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 continued its good form this Tuesday.

Read more »