Why is everyone talking about Megaport, Ampol and Northern Star shares on Wednesday?

Megaport, Ampol and Northern Star shares are making waves today.

| More on:

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

Ampol Ltd (ASX: ALD), Megaport Ltd (ASX: MP1) and Northern Star Resources Ltd (ASX: NST) shares are turning heads today.

As we eye the Wednesday lunch hour, two of the ASX 200 heavyweights are charging ahead of the 0.4% gains posted by the S&P/ASX 200 Index (ASX: XJO) while one remains in a trading halt.

Here's what's capturing investor interest.

An old-fashioned news boy stands on a stool and yells through a microphone in an open field.

Image source: Getty Images

Northern Star shares leap on gold resource boost

Northern Star shares are up 5.3% at time of writing, changing hands for $22.15 apiece.

This strong performance follows the release of the ASX 200 gold stock's mineral resource and reserve estimate update.

Northern Star reported that its total mineral resources increased by 18.2 million ounces of gold to 88.9 million ounces, after mining depletion.

And the Aussie gold miner's ore reserves increased by 6.1 million ounces of gold to 28.4 million ounces.

Northern Star shares also look to be catching investor interest, with the miner revealing that it was able to grow its resource at a low-end discovery cost averaging less than $23 per ounce.

Commenting on the growth, Northern Star managing director Stuart Tonkin said:

For the first time, the Hemi Mineral Resources and Ore Reserves have been reported under the Northern Star methodology and economic framework, establishing a consistent, portfolio-wide approach that enhances comparability and underpins future growth opportunities.

Ampol shares gain on ACCC acquisition greenlight

Ampol is also grabbing investor interest today.

Ampol shares are up 2.5% at $34.63 each after the Aussie fuel supplier announced that the Australian Competition and Consumer Commission (ACCC) has approved Ampol's acquisition of fuel and convenience retailer EG Australia.

The company noted that the approval is conditional on Ampol's divestment of 41 sites. Ampol said it has entered into a binding agreement to sell the 41 sites to Metro Petroleum.

Citing its strong balance sheet, Ampol said it will cash settle the scrip component of the purchase price. The seller of EG Australia will receive a net cash consideration of approximately $1.115 billion.

"This transaction is a major step in delivering Ampol's strategy by strengthening our retail network and enhancing our segmented customer offer," Ampol CEO Matt Halliday said.

Ampol expects to complete the acquisition of EG Australia on 30 June.

Which brings us to…

Megaport shares in second day of trading halt

Joining Ampol and Northern Star shares in making waves today we find Megaport.

Shares in the ASX 200 network services company entered a trading halt yesterday and remain frozen today as the company conducts an $827 million capital raising via a fully underwritten entitlement offer.

Today, the company also reported that is has inked four new AI infrastructure contracts valued at $459 million.

Megaport also narrowed its full year FY 2026 revenue guidance range to between $307 million and $315 million.

Motley Fool contributor Bernd Struben 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 Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ASX Share Market News

Man and woman sitting at table with the man looking a bit puzzled at his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wild but ultimately unsuccessful Tuesday for ASX investors.

Read more »

A young boy in a business suit giving thumbs up with piggy banks and coin piles demonstrating dividends and ex-dividend day approaching.
ASX Share Market News

3 oversold ASX 200 shares trading for cheap right now

Do you own any of these ASX 200 shares?

Read more »

Woman and man calculating a dividend yield.
Broker Notes

Buy, hold, sell: REA, Northern Star Resources, Suncorp shares

Two experts share their views on three ASX 200 shares.

Read more »

Two female executives looking at a clipboard together.
Broker Notes

Buy, hold, sell: Centuria Industrial REIT, Endeavour, Wildcat Resources shares

Experts share their views on the lithium miner, hotels operator, and industrial ASX REIT.

Read more »

A distressed young woman reads bad news on her smartphone while standing in a modern indoor setting.
ASX Share Market News

How the KOSPI crash impacted ASX investors

The South Korean market rose 170% in FY26 before crashing 44% last month.

Read more »

Children skipping and jumping up a hill.
ASX Share Market News

Brokers tip these 3 ASX shares to climb another 50% to 66%

These ASX shares are expected to outperform the All Ordinaries index over the next 12 months.

Read more »

A group of five engineers wearing hard hats and some in high visibility vests raise their arms in happy celebration atop a building site with construction and equipment in the background.
Broker Notes

Why this $1.4 billion ASX All Ords mining stock is tipped to jump 30%

A top wealth manager forecasts more than 30% returns from this ASX mining stock.

Read more »

Man analysing data on his laptop.
ASX Share Market News

Buy, hold, sell: Aristocrat, Telstra, ANZ shares

As earnings season continues, Morgans has issued some new ratings on ASX 200 shares.

Read more »