Why Ansell, Elders, Predictive Discovery, and Rio Tinto shares are storming higher

These ASX shares are having a strong session. But why?

| More on:
two people celebrating good news, stock rise, price increase, positive announcement

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 on form again and on course to record another gain. In afternoon trade, the benchmark index is up 0.55% to 7,830.8 points.

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

Ansell Ltd (ASX: ANN)

The Ansell share price is up 7% to $25.53. Investors have been buying this health and safety products company's shares following the completion of a capital raising. Ansell has successfully completed a A$400 million (US$263 million) fully underwritten institutional placement to eligible institutional investors. This was undertaken at a 6% discount of A$22.45 per new share. The proceeds will be used to acquire the Personal Protective Equipment (PPE) business of Kimberly-Clark Corp (NYSE: KMB) for US$640 million (A$970 million). Management expects the acquisition to be mid-to-high single-digit earnings per share accretive pre synergies and low-teens earnings per share accretive including run-rate net cost synergies on a FY 2024 pro forma basis.

Elders Ltd (ASX: ELD)

The Elders share price is up 7% to $7.94. This agribusiness company's shares are rebounding on Tuesday after being sold off yesterday due to a poor trading update. The team at Citi believes the weakness has created a buying opportunity. This morning, its analysts upgraded Elders' shares to a buy rating with an $8.50 price target. Elsewhere, Morgans has upgraded the company's shares to an add rating with a $9.00 price target. This implies potential upside of 13% for investors from current levels.

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is up over 6% to 24.5 cents. This has been driven by the release of further regional drilling results from the company's Bankan Gold Project in Guinea. According to the release, the drilling delivered excellent initial results along strike to the north-east at Sanifolon South. This includes some of the best intercepts so far from Argo, which add to the potential of the Argo Central Trend. Predictive Discovery's Managing Director, Andrew Pardey, said: "We are delighted with the latest exploration results from Argo, which pleasingly includes both follow-up drill holes at promising targets and first-pass results from new areas."

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is up 3.5% to $126.11. This appears to have been driven largely by a strong night of trade for iron ore. According to CommSec, iron ore futures climbed US$2.71 or 2.7% to US$102.68 a tonne. This was driven by hopes of potential measures to bolster the steel industry in China and expectations of a wave of post-holiday restocking from the country's steelmakers.

Should you invest $1,000 in Ampol Limited right now?

Before you buy Ampol Limited 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 Ampol Limited 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

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 recommended Ansell and Elders. 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

Man pointing at a blue rising share price graph.
Share Gainers

Guess which ASX 300 stock just rocketed 17%!

Investors are sending the ASX 300 stock soaring higher on Wednesday. But why?

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Firefly, Kelsian, NAB, and Zip shares are roaring higher today

These shares are having a good time on hump day. Let's find out why.

Read more »

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another tough day for investors this Tuesday.

Read more »

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

Why Dimerix, Evolution Mining, Inghams, and NextDC shares are charging higher today

These shares are rising when many are falling today. But why?

Read more »

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough trading day for ASX stocks this Monday.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why 4DMedical, Gold Road, Syrah, and Tyro shares are racing higher today

These shares are starting the week strongly. But why?

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

2 ASX gold stocks racing higher in Monday's sinking market

Investors are sending these ASX gold stocks flying higher on Monday. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords share just rocketed 19% on BIG news

Investors are sending this ASX All Ords share flying on Monday. But why?

Read more »