Motley Fool Australia

Why De Grey, Scentre, Splitit, & Temple & Webster shares are pushing higher

Image source: Getty Images

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing the benchmark index is down 0.6% to 5,919.6 points.

Four shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

The De Grey Mining Limited (ASX: DEG) share price has jumped over 7% to $1.53. Earlier this week the gold-focused mineral exploration company announced the completion of its $100 million capital raising. The proceeds from the placement will be used to fund ongoing extension and definition drilling of the Hemi discovery, testing of mineralised intrusions close to Hemi, and early stage project de-risking studies. Investors appear confident De Grey is sitting atop a world class asset.

The Scentre Group (ASX: SCG) share price is up 3% to $2.34. This morning the shopping centre operator announced that it has priced a US$3 billion (A$4.1 billion) subordinated hybrid note issue in the United States market. In light of this, Scentre now has sufficient long-term liquidity to cover all debt maturities to early 2024.

The Splitit Ltd (ASX: SPT) share price is up 2.5% to $1.59. This morning the buy now pay later provider announced a partnership with professional services payment provider QuickFee Ltd (ASX: QFE). The deal will allow clients of accounting and law firms in the US and Australia to pay their fees on credit cards using Splitit’s instalment solution. QuickFee processed more than US$300 million worth of payments in FY 2020.

The Temple & Webster Group Ltd (ASX: TPW) share price has pushed 3% higher to $10.18. This is despite there being no news out of the online furniture and homewares retailer today. However, with Kogan.com Ltd (ASX: KGN) releasing an update on Wednesday and revealing exceptionally strong growth in August, investors may believe that Temple & Webster’s positive form has also continued early in FY 2021.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Kogan.com ltd and Temple & Webster Group Ltd. 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.

Related Articles…