The S&P/ASX 200 Index (ASX: XJO) is on course to record the smallest of gains on Thursday. In afternoon trade, the benchmark index is up slightly to 8,592.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 4.5% to $1.29. Investors have been buying Beach Energy and other ASX energy stocks today after oil prices surged overnight amid escalating tensions between the US and Iran. This has offset a broker note out of Morgans, which saw its analysts downgrade Beach Energy's shares to a hold rating with a reduced price target of $1.36. It sees potential for the company to disappoint when it releases its next quarterly update.
Meeka Metals Ltd (ASX: MEK)
The Meeka Metals share price is up 14% to 18.2 cents. This morning, the gold developer announced that ore is being fed into its processing plant and commissioning is underway at the Murchison Gold Project. Meeka Metals' managing director, Tim Davidson, said: "With commissioning of processing in June 2025, we achieve an important milestone for the Murchison as we transition from developer to producer status. It rounds out a period of consistent delivery against our development timeline and reflects our focussed actions to bring the project online."
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is up 8% to 65.5 cents. This has been driven by news that the fertility treatment company's CEO, Michael Knaap, has resigned. Monash IVF's CFO and company secretary, Malik Jainudeen, has been appointed as acting CEO. On Wednesday, the company announced a second incident at one of its clinics. On this occasion, a "patient's own embryo was incorrectly transferred to that patient, contrary to the treatment plan which designated the transfer of an embryo of the patient's partner."
Qantas Airways Ltd (ASX: QAN)
The Qantas Airways share price is up 3% to $10.81. This morning, analysts at Morgan Stanley responded positively to Qantas' decision to close its Jetstar Asia business. The broker has retained its overweight rating on the airline operator's shares with an improved price target of $12.00. Elsewhere, Morgans upgraded Qantas' shares to a hold rating with an improved price target of $10.80. This is in line with where its shares are now trading.
The post Why Beach Energy, Meeka Metals, Monash IVF, and Qantas shares are racing higher today 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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