Why Regis Resources, Sayona, Woodside, and Xero shares are pushing higher

These ASX shares are on form on Tuesday…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing, the benchmark index is up 0.2% to 6,624.3 points.

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

Regis Resources Limited (ASX: RRL)

The Regis Resources share price is up 9% to $1.58. Investors have been buying this gold miner’s shares following the release of a production update. That update revealed that Regis had a record quarter for gold production, recording a 20% increase to 123.9k ounces. This means that Regis’ annual gold production came in at 437k ounces. This is up 17% year on year and in line with its guidance of 420k ounces to 475k ounces.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 3% to 15.5 cents. A number of lithium shares are pushing higher today amid improving sentiment in the industry. Sayona’s gain comes despite news that its managing director, Brett Lynch, has sold over 4 million shares through an on-market trade.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up over 3% to $32.32. Investors have been buying energy shares today after oil prices pushed higher again overnight. Traders were bidding oil prices higher amid concerns over supply disruptions in Libya and Norway.

Xero Limited (ASX: XRO)

The Xero share price is up 2% to $80.41 despite there being no news out of the cloud accounting platform provider. However, a number of tech shares are outperforming the market on Tuesday. This has seen the S&P ASX All Technology index rise 1.4% this afternoon. Investors have been buying tech shares after Nasdaq futures rebounded. They were originally pointing to declines tonight but are now indicating that the Nasdaq will open 0.4% higher.

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 Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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