Why Fortescue, Mesoblast, Temple & Webster, and Virgin Money shares are rising

Here are four ASX shares that are rising more than most today

| More on:
Man drawing an upward line on a bar graph symbolising a rising 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

The S&P/ASX 200 Index (ASX: XJO) is on form on Tuesday and pushing higher. In afternoon trade, the benchmark index is up 0.4% to 7,228.8 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Fortescue Ltd (ASX: FMG)

The Fortescue share price is up 2% to $26.38. Earlier today, the iron ore miner's shares hit a record high. Investors appear to believe that the price of the steel-making ingredient will stay higher for longer due to demand in China.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up almost 5% to 28.25 cents. This morning, the biotechnology company confirmed that its CEO, Silviu Itescu, invested $3 million in its institutional placement. Itescu paid 30 cents per new share, which is ahead of current levels. The market appears to believe this is a sign of confidence that the worst could be now behind the company.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is up 3% to $8.65. This may have been driven by a broker note out of Morgan Stanley. Its analysts have retained their overweight rating and lifted their price target on the online furniture and homewares retailer's shares to $9.25. The broker believes the company can hit its $1 billion revenue target in the coming years.

Virgin Money UK (ASX: VUK)

The Virgin Money share price is up 3% to $3.03. This may also have been driven by a bullish broker note. According to a note out of Macquarie, its analysts have upgraded this UK bank's shares to an outperform rating with an improved price target of $3.45. It is feeling more upbeat on the bank's outlook following its results.

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 Macquarie Group and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Temple & Webster Group. 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

rising gold share price represented by a green arrow on piles of gold block
Share Gainers

Here are the top 10 ASX 200 shares today

It was a horrible way to end the trading week today for ASX investors.

Read more »

Female miner smiling at a mine site.
Share Gainers

Up 834% in a year, guess which ASX mining stock is hitting new all-time highs today

The ASX mining stock has gone from strength to strength over the past year.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Fiducian Group, Northern Star, Paradigm, and Santos shares are charging higher

These shares are avoiding the market selloff.

Read more »

Man pointing at a blue rising share price graph.
Financial Shares

How is this ASX 200 financial stock popping 6% today?

This lucky company has just swung into the green in 2024...

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why BHP, Challenger, Rio Tinto, and Telix shares are pushing higher today

These ASX shares are having a strong session. But why?

Read more »

rising gold share price represented by a green arrow on piles of gold block
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 kept up the selling this Wednesday, with another day in the red.

Read more »

Green arrow going up on a stock market chart, symbolising a rising share price.
Share Gainers

Why Bank of Queensland, DroneShield, Evolution Mining, and Lynas shares are storming higher today

These ASX shares are having a very strong session on hump day.

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was mayhem on the markets today, with one of the worst days in a long time for ASX shares.

Read more »