Why Air NZ, Bega Cheese, Fisher & Paykel Healthcare, & Galaxy are pushing higher

Bega Cheese Ltd (ASX:BGA) and Galaxy Resources Limited (ASX:GXY) shares are two of four jumping higher on Friday…

| More on:
high share price

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) looks set to end the week with a day in the red. At the time of writing, the benchmark index is down 0.55% to 6,600.3 points.

Four shares that haven't let that hold them back today are listed below. Here's why they are pushing higher:

Air New Zealand Limited (ASX: AIZ)

The Air New Zealand share price is up over 2% to $1.76. This morning the airline operator announced that it has been awarded four months of additional cargo flights under the New Zealand Government's International Air Freight Capacity (IAFC) scheme. This comes after the government announced Phase Two of the IAFC scheme which runs from 1 December 2020 through to 31 March 2021.

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price has surged 8% higher to $5.48. This follows the completion of its institutional placement and the institutional component of its entitlement offer. Bega Cheese raised $284 million at a 9.1% discount of $4.60 per new share. These funds will be used to acquire Lion Dairy & Drinks for $534 million. This will add popular brands such as Dare, Farmers Union, Yoplait yoghurts, Pura milk, and Juice Brothers juices to its portfolio.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is up 2.5% to $31.55. This could be in response to a broker note out of Goldman Sachs. Its analysts were impressed with the medical device company's half year results. The broker retained its buy rating and bumped its price target higher to $37.60. Goldman notes that high-flow therapy continues to build momentum and it sees an attractive penetration runway ahead.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has jumped 7.5% higher to $2.10. Investors have been buying the lithium miner's shares after it successfully raised a total of $124 million from institutional investors at $1.70 per new share. The proceeds from the offer will be applied to Sal de Vida Stage 1 and fund pre-development activities to progress James Bay to a construction ready status.

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

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

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »