Why Insignia, Light & Wonder, Mesoblast, and Woodside shares are racing higher today

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

| More on:
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

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 out of form and sinking into the red. The benchmark index is currently down 0.8% to 8,142.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is up 3.5% to $2.72. This morning, this financial services company revealed that OnePath Custodians, together with Zurich Australia and ANZ Group Holdings Ltd (ASX: ANZ), have reached an agreement to settle the class action commenced by Slater and Gordon in December 2020 for a total of $50 million. Its OnePath Custodians business will contribute $22 million to the settlement. It notes that the settlement is subject to court approval and is made without any admission of liability or wrongdoing by any of the respondents.

Light & Wonder Inc (ASX: LNW)

The Light & Wonder share price is up 7% to $140.04. This follows the release of an update on the Dragon Train litigation, which caused a selloff last month. Aristocrat Leisure Limited (ASX: ALL) recently secured an injunction against this game, preventing its sale and operation. Management notes that Dragon Train accounts for 2,200 of its 33,000 leased units in North America. It is now working to convert these games and notes that it has not received a single removal request. In light of this, it continues to believe that it will deliver on its 2025 earnings guidance of US$1.4 billion.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up a further 11% to a 52-week high of $1.50. This is despite there being no news out of the biotechnology company. However, it seems that investors are expecting some good news to be released by Mesoblast in the near future. This is likely to be in relation to its remestemcel-L product, which is seeking approval for the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). Mesoblast's shares are now up approximately 50% since this time last month.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 3% to $26.83. Investors have been buying Woodside and other ASX energy stocks on Friday following a jump in oil prices overnight. According to Bloomberg, the WTI crude oil price was up 5.2% to US$73.78 a barrel and the Brent crude oil price was up 5.1% to US$77.65 a barrel. This was driven by fears that Israel could strike Iran's oil industry in retaliation for ballistic missile attacks earlier this week.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Light & Wonder. The Motley Fool Australia has recommended Light & Wonder. 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 with backpack spreading his arms out and soaking in the sun.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing session for investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a nervous hump day session for ASX investors today.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why Collins Foods, DroneShield, Star Entertainment, and Virgin Australia shares are charging higher

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

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors enjoyed a strong recovery day this Tuesday.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

CBA shares hit another all-time high. Can they surpass $200 in 2025?

CBA shares have a tailwind pushing up their price that has nothing directly to do with the bank's business performance.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Alliance Aviation, Cogstate, Collins Foods, and Findi shares are roaring higher today

These shares are having a good session on Tuesday. Let's find out why.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the week this Monday.

Read more »

Crude oil barrels rocketing.
ETFs

Why did the BetaShares Crude Oil ETF just spike 4%?

This ETF is attracting buyers in today's seller's market.

Read more »