Why Generation Development, Graincorp, Seek, and Treasury Wine shares are storming higher

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

| More on:
Smiling couple looking at a phone at a bargain opportunity.

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.3% to 7,758.7 points.

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

Generation Development Group Ltd (ASX: GDG)

The Generation Development Group share price is up almost 7% to $2.40. This follows the completion of the institutional component of its equity raising. The life insurance company raised approximately $126 million at a 13.3% discount of $1.95 per new share. The proceeds will be used to part fund the remaining 61.9% of Lonsec Holdings that it does not already own. The remaining up-front consideration will be funded through a placement to Lonsec shareholders who have elected to receive fully paid ordinary shares in Generation Development Group in exchange for their equity in Lonsec.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up 3.5% to $9.18. This may have been driven by a bullish broker note out of Bell Potter this morning. Its analysts note that the ABARE June east coast crop forecast has surprised to the upside. This implies another strong cropping outcome for Graincorp in FY 2025, with the initial June forecast implying the fifth largest crop on record. Bell Potter has retained its buy rating on Graincorp's shares with an improved price target on $9.90.

Seek Ltd (ASX: SEK)

The Seek share price is up 3.5% to $23.46. This morning, this job listings company announced the sale of its Latin American assets. Seek has entered into a binding agreement to sell its 98.2% interest in OCC Mexico and its 100% interest in Catho Online to Red Arbor for a cash consideration of US$85 million. In Seek's FY 2024 financial results, the disposals of these assets are expected to result in a net loss on sale after tax of between A$15 million and A$35 million.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 6% to $12.10. This follows the release of an update after the market close on Tuesday. As well as speaking positively about its sizeable opportunity in North America, the wine giant reaffirmed its guidance for FY 2024. It continues to expect mid-high single digit EBITS growth for the year. Management also advised that work to assess the future operating model for the company's global portfolio of Premium brands is continuing. An update will be provided to the market in August.

Should you invest $1,000 in Generation Development Group Limited right now?

Before you buy Generation Development Group 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 Generation Development Group 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

Motley Fool contributor James Mickleboro has positions in Seek and Treasury Wine Estates. 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 Seek and 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 Breville, Clarity, EOS, and TechnologyOne shares are racing higher today

These shares are having a strong session on Tuesday. But why?

Read more »

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

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the week today.

Read more »

A person in a gorilla suit leaps really high holding a banana, nearly doing the splits.
Share Gainers

Up 1,238% in a year, why is this ASX gold stock surging again on Monday?

The ASX gold stock is now well into ten-bagger range and still rising fast today.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why EOS, Gorilla Gold, Lendlease, and OFX shares are charging higher today

These shares are starting the week on a positive note. But why?

Read more »

A woman in a business suit sits at her desk with gold bars in each hand while she kisses one bar with her eyes closed. Her desk has another three gold bars stacked in front of her. symbolising the rising Northern Star share price
Gold

How this ASX All Ords gold stock turned $10,000 into $78,740 in just one year

The ASX All Ords gold miner has raced higher over the year. Let’s find out how.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors enjoyed a happy end to the trading week this Friday.

Read more »

A woman wearing yellow smiles and drinks coffee while on laptop.
Bank Shares

CBA shares top $170. Where to now?

Another day, another record high for CBA shares.

Read more »

Two people jump and high five above a city skyline.
Share Gainers

Why these 5 ASX 200 stocks are racing higher this week

It’s been a stellar week for these five ASX 200 stocks. But why?

Read more »