The S&P/ASX 200 Index (ASX: XJO) is starting the week on a subdued note. At the time of writing, the benchmark index is down 0.15% to 8,271.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Deep Yellow Limited (ASX: DYL)
The Deep Yellow share price is up almost 10% to $1.25. This is despite there being no news out of the uranium miner on Monday. Though, it is worth noting that most ASX uranium stocks are racing higher today. This could have been driven by short sellers buying back shares to close positions after some sizeable declines in recent weeks. For example, Deep Yellow shares are still down 18% since this time last month despite today's rebound.
Fleetpartners Group Ltd (ASX: FPR)
The Fleetpartners share price is up 7.5% to $3.18. This follows the release of the vehicle leasing, fleet management, and salary packaging company's full year results this morning. Fleetpartners, formerly known as Eclipx, reported new business writings of $924 million for the 12 months. This represents a 21% increase on FY 2023 and was driven by the strong execution of Strategic Pathways, aided by continuing improvements in the supply of new vehicles. Net profit after tax excluding amortisation was down 1% to $87.7 million but cash earnings per share increased 9%.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is up 3% to $4.84. This has been driven by the release of the coal miner's first quarter update. For the three months ended 31 October, New Hope reported a 41% increase in underlying EBITDA to $304.6 million. This was driven by a combination of production growth, higher realised prices, and lower unit costs at the Bengalla mine. Management also released its guidance for FY 2025 and revealed that it expects to deliver strong growth in production and lower unit costs.
Santana Minerals Ltd (ASX: SMI)
The Santana Minerals share price is up 8% to 54 cents. This morning, this gold miner announced that the New Zealand Parliament has passed the second reading of the Fast-track Approvals Bill. This brings the regulatory process one step closer to becoming law. CEO Damian Spring said: "Straight off the back of our successful PFS release, and its strong financial results, we're encouraged to see advancements in consenting certainty. This development is a significant step in attracting foreign investment and reinvigorating resource banking in NZ. With strong funding and support from key stakeholders, we remain well-positioned to advance the project towards a Final Investment Decision (FID) by mid-2025."
The post Why Deep Yellow, Fleetpartners, New Hope, and Santana shares are storming higher appeared first on The Motley Fool Australia.
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 no position in any of the stocks mentioned. 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.
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