The S&P/ASX 200 Index (ASX: XJO) went up another 3.6% on Wednesday with ASX investors putting some of their coronavirus fears behind them.
What shares helped the ASX rise today?
It’s the shares in the ASX50 that have the biggest influence on the ASX 200 on a day to day basis. Looking at some of those big performers:
The BHP Group Ltd (ASX: BHP) share price rose by 4.3%.
The CSL Limited (ASX: CSL) share price rose by 3.5%.
The Macquarie Group Ltd (ASX: MQG) share price increased by 4.2%.
The Vicinity Centres (ASX: VCX) share price also increased by 11.6%.
Capital raisings start
Some market commentators have said that businesses in weaker positions or the ones facing heavy disruption, will need to raise capital to make sure they survive during this period. Well, that seems to have started.
These raisings are being done at beaten-down prices to make sure they get enough interest.
Oil shares climb
Investors are also liking the prices that oil companies are trading at. Looking at the large end of the ASX:
The Woodside Petroleum Limited (ASX: WPL) share price went up almost 8%.
The Santos Ltd (ASX: STO) share price increased by 9.7%
The Oil Search Limited (ASX: OSH) share price climbed by 12.6% today.
Other businesses relating to commodities also got involved in the rise today such as the Aurizon Holdings Ltd (ASX: AZJ) share price which increased 6.6%.
Some of the best ASX shares to buy today could be these leading growth names.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Webjet Ltd. The Motley Fool Australia has recommended Scentre Group. 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 Scott Phillips.
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