Why CSL, Incitec Pivot, Lake Resources, and St Barbara are pushing higher


In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is losing steam and starting to slide lower. At the time of writing, the benchmark index is down 0.4% to 7,012.1 points.

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

The CSL share price is up 3% to $256.98. Investors have been buying this biotherapeutics giant’s shares following reports that the TGA has approved a super flu jab by its Seqirus business for children as young as two years old. The Flucelvax Quad vaccine was the first cell-based seasonal influenza vaccine offered in Australia when it was first approved in 2021. Prior to TGA approval, CSL had distributed 100 million doses globally.

The Incitec Pivot share price is up almost 2% to $3.53. This morning the agricultural chemicals company’s shares were upgraded by analysts at Credit Suisse. According to the note, the broker has put an outperform rating and $3.85 price target on its shares. It believes Incitec Pivot will benefit from higher fertiliser prices.

The Lake Resources share price is up 2% to $1.01. This appears to have been driven by news that the lithium explorer has raised $39 million through an at-the market raise. As per its agreement with Acuity Capital, it has raised the funds through the issue of 40 million shares at 97.5 cents per new share.

The St Barbara Ltd (ASX: SBM) share price is up 8% to $1.53. Investors have been bidding this gold miner’s shares higher today amid speculation it could be a takeover target. Nearby peers Northern Star Resources Ltd (ASX: NST) and Ramelius Resources Limited (ASX: RMS) could reportedly be interested in the beaten down gold miner’s Gwalia underground mine and processing plant.

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