Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

| More on:
A young women pumps her fists in excitement after seeing some good news on her laptop.

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 having a strong session on Thursday. In afternoon trade, the benchmark index is up 0.95% to 7,894.8 points.

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

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up a further 13% to 56 cents. Investors have been scrambling to buy the biotechnology company's shares this week thanks to the release of an announcement relating to its remestemcel-L product candidate. Mesoblast revealed that the US Food and Drug Administration (FDA) has advised that there should be sufficient results to support the submission of the company's proposed Biologics License Application (BLA) for its stem cell therapy to treat paediatric patients with steroid-refractory acute graft versus host disease.

Newmont Corporation (ASX: NEM)

The Newmont share price is up over 3% to $53.69. This follows another rise in the gold price overnight on rate cut optimism. It isn't just Newmont that is rising in the gold sector today. A good number of gold miners are recording solid gains. This has led to the S&P/ASX All Ordinaries Gold Index rising 2.6% this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 3% to $3.86. This is despite there being no news out of the lithium miner today. However, it is worth noting that most ASX lithium stocks are storming higher on Thursday. This appears to have been driven by a particularly strong session for lithium stocks on Wall Street overnight.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum Asset Management share price is up 6% to $1.09. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has upgraded the fund manager's shares to a buy rating with an improved price target of $1.20. It said: "The 20% sell off in the shares looks out of touch with the improving risk/return trade outlook, meaning we upgrade our recommendation to BUY."

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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

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

Why Austal, Botanix, DroneShield, and NextDC shares are storming higher today

These shares are starting the week with a bang. But why?

Read more »

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Share Gainers

The Coronado Global share price just surged to a 114% weekly gain. Here's why

Investors have sent the ASX coal stock flying higher in June. But why?

Read more »

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »

Man in an office celebrates at he crosses a finish line before his colleagues.
Share Gainers

4 ASX 200 shares racing ahead of the benchmark this week

ASX investors sent these four stocks soaring 12% to 18% this week. But why?

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why BHP, Coronado Global, EBR Systems, and Whitehaven Coal shares are pushing higher today

These shares are ending the week on a positive note. Let's find out why.

Read more »

a young woman looks happily at her phone in one hand with a selection of shopping bags in her other hand.
BNPL shares

Up 87% since April, why the Zip share price can keep flying higher into 2026

A leading fund manager expects more outsized gains from Zip shares ahead.

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a miserly session for investors today.

Read more »

Happy coal miner.
Share Gainers

Up 75% this week, why is this ASX All Ords stock rocketing again today?

Investors are piling into this ASX 300 stock on Wednesday. But why?

Read more »