Why AnteoTech, Appen, Aussie Broadband, & Tyro shares are charging higher

These ASX shares are starting the week strongly…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 7,484.6 points.

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

AnteoTech Ltd (ASX: ADO)

The Anteotech share price is up 6% to 18 cents. This morning the surface chemistry company announced the signing of a distribution agreement in Turkey with Pera Medikal Anonim Sirketi. This deal is for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test (RDT) in the country.

Appen Ltd (ASX: APX)

The Appen share price is up 4% to $10.93. This is despite there being no news out of the artificial intelligence data services company today. However, with its shares down heavily in 2021, some investors may believe that they have fallen into the bargain bin now. One broker that appears to believe this is the case is Citi. Late last month it put a buy rating and $18.80 price target on its shares.

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price has climbed 4.5% to $4.49. Investors have been buying the broadband provider’s shares after it announced a 10-year deal with VicTrack. This deal will see the two companies swap access to their respective fibre networks. Aussie Broadband expects the agreement to significantly increase the geographic reach of its fibre network, especially into regional Victoria.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is up 6% to $3.99. This appears to have been driven by a positive weekly update and news that the payments company will be added to the ASX 200 at the next rebalance. The latter means that index tracking funds will have to buy its shares. It also brings it onto the radar of fund managers with strict investment mandates.

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Motley Fool contributor 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 and has recommended Appen Ltd, Aussie Broadband Limited, and Tyro Payments. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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