Why these 4 ASX shares posted strong gains today

The National Australia Bank Ltd (ASX:NAB) share price is one of four posting strong gains. Here's what you need to know…

| More on:
a woman

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: ^AXJO) (ASX: XJO) has bounced back from a weak start and is now up a solid 0.2% to 5,890 points in afternoon trade.

Four shares that have climbed more than most today are listed below. Here's why they have posted strong gains:

The AMP Limited (ASX: AMP) share price is up 3.5% to $5.21 after the financial services company reported its half-year result. According to the release, underlying group profit increased 114% on the prior corresponding period to $1.04 billion. The main driver of this growth was the return to profit of its Australian wealth protection business. This managed to offset a 2.5% decline in profit from its Australian wealth management business.

The Carnegie Clean Energy Ltd (ASX: CCE) share price has climbed 11% to 4 cents. This morning the clean energy company advised that its subsidiary's joint venture with Lendlease Group (ASX: LLC) has been awarded a $6.8 million contract for the supply, delivery and installation of a 5MW Battery Energy Storage System facility located in Kalbarri for Western Power.

The National Australia Bank Ltd (ASX: NAB) share price is up 2.5% to $28.94 after the banking giant released its quarterly update. That release revealed that NAB's December quarterly cash earnings improved 3% over the prior corresponding period to $1.65 billion as revenue increased by 1%. Whilst I felt this was a reasonably unspectacular result from the bank, I think its shares are quite attractive at the current share price.

The SG Fleet Group Ltd (ASX: SGF) share price has jumped almost 8% to $4.30 despite there being no news out of the fleet management company. Investors appear to believe that its shares have fallen into bargain territory after they fell over 10% from their January high. They could be onto something, Citi slapped a buy rating and $4.85 price target on its shares in December.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »