The S&P/ASX 200 Index (ASX: XJO) is sitting low today, with the index having fallen 0.77% at the time of writing. However, a few ASX shares moving higher today are swimming against the tide. Here are three of them:
3 ASX shares rising today
Sonic Healthcare Limited (ASX: SHL)
The Sonic Healthcare share price is up 2.43% today after jumping from a closing price on Friday last week of $32.50 to currently trade at $33.29. Sonic Healthcare is a global healthcare company. It specialises in a number of niches including medicine/pathology, radiology/diagnostic imaging and primary care services. Sonic is based in Sydney.
Recently, Sonic announced a final dividend of 51 cents per share, bringing the total dividend to 85 cents per share for the year. In recent reporting, Sonic provided some solid numbers, with earnings before interest, tax, depreciation and amortisation (EBITDA) coming in higher than anticipated. The Sonic Healthcare share price recently slumped, however now looks set to chase its 52-week high of $38 if it maintains this new bullish course.
Frontier Digital Ventures Ltd (ASX: FDV)
The Frontier Digital Ventures share price continues to enjoy the bullish action it has seen over the last 3 trading sessions. On Thursday last week, Frontier shares moved up more than 8%. On Friday, the price rose 4.2% and today it has moved as much as 11.4% in intraday trade. A heavy pullback around lunchtime has seen much of today’s gains reversed, however we normally see some volatility after a few days of bullish action.
Frontier is a private equity firm specialising in developing and investing in online classified advertising businesses. Investing in the automobile and property advertising niches are some of Frontier’s top choices. Frontier has offices in both Australia and Malaysia.
Recently in early September, Frontier announced that it had partnered with Brazilian digital real estate brokerage platform AoCubo, through its investee business InfoCasas. This is a significant opportunity for Frontier to expand interests into the Brazil market.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price has surged as much as 8.5% in intraday trade today. Coming off the back of a few stagnant and down days in the back half of last week, this is a welcome change for investors.
Whitehaven operates coal mines in New South Wales and Queensland. It is headquartered in Sydney and sells its product (coal) to many international markets. These include buyers located in Japan, Taiwan, Korea, India, China, Malaysia and many others.
The company has had a bad run recently. The Whitehaven share price has been on a downward slope with falling coal prices and and increased regulation from foreign governments. I don’t think Whitehaven has quite hit a turning point yet, but it’s great to see a green day on the market for the company.
It’s always a good idea to pay attention to the shares moving higher today, as it can give you an indication of what the rest of the week might bring. These companies are running out of the gate, so hopefully we will see continued momentum.
glennleese has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Frontier Digital Ventures Ltd. The Motley Fool Australia has recommended carsales.com Limited, Frontier Digital Ventures Ltd, REA Group Limited, and Sonic Healthcare 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 Scott Phillips.
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