Why Brambles, Core Lithium, Infomedia, and Qube shares are charging higher

These ASX shares have started the week strongly…

| More on:
A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today

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) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.3% to 7,097.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Brambles Limited (ASX: BXB)

The Brambles share price is up 11% to $11.59. This follows news that the logistics solutions company is having takeover talks with private equity giant CVC Partners. However, the company has stressed that it hasn’t received a proposal yet. Brambles also warned that there is no certainty that the discussions will lead to a binding proposal being received.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 3% to $1.18. Investors have been buying this lithium developer’s shares following a strong night for lithium shares on Wall Street on Friday. For example, lithium giants Albemarle, Sociedad Quimica y Minera de Chile (SQM), and Livent Corp rose 7%, 9.5%, and 12.5%, respectively, during Friday’s session.

Infomedia Limited (ASX: IFM)

The Infomedia share price has jumped 28% to $1.64. This has been driven by the news that the automotive industry software company has received a takeover offer. According to the release, the TA Consortium has offered $1.70 cash per share. This represents a 32.8% premium to the Infomedia share price prior to its trading halt.

Qube Holdings Ltd (ASX: QUB)

The Qube share price is up 6% to $2.95. This morning the logistics company announced the completion of its off-market share buyback. Qube has bought back $400 million of shares at $2.59 per share. This represents 154 million shares, which equates to 8% of its shares outstanding. The buyback price comprises a capital component of $1.61 per share and a dividend component of 98 cents per share.

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. has positions in and has recommended Infomedia. The Motley Fool Australia has recommended Infomedia. 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 boy leaps and flaps his arms as he tries to fly with some birds on the shoreline of the beach.
Share Gainers

5 best ASX All Ordinaries shares in June

Why did these ASX shares fly while the All Ords dropped?

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Share Gainers

Why Austal, Mesoblast, Regis Resources, and Zip shares are charging higher

These ASX shares are ending the week strongly...

Read more »

Three rockets heading to space
Share Gainers

These 3 ASX All Ords shares are delivering double-digit gains on Friday

These stocks have each surged more than 20% today.

Read more »

a man in a green and gold Australian athletic kit roars ecstatically with a wide open mouth while his hands are clenched and raised as a shower of gold confetti falls in the sky around him.
Gold

Why is the Northern Star share price more green than gold on Friday?

It's proving a good day so far for the gold miner, despite the price of the yellow metal falling.

Read more »

Rising arrow on a blue graph symbolising a rising share price.
Share Gainers

Why is the Mesoblast share price leaping 19% today?

Mesoblast reverses course today – for now, anyway.

Read more »

a group of young people dance together with their hands in the air, moving to music.
Share Gainers

What’s propelling the MoneyMe share price 28% higher today?

Investors have rewarded the company handsomely today.

Read more »

a man and a woman sitting in a technology related work environment high five each other while the man wears headphones around his heck and the woman sits in front of a laptop.
Share Gainers

Domestic bliss: Praemium share price surges 18% after international business split

The tech company will now focus on the domestic market.

Read more »

Young woman in yellow striped top with laptop raises arm in victory
Share Gainers

These were the best performing ASX 200 shares in June

These ASX 200 shares defied the market selloff and stormed higher...

Read more »