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These ASX shares are ending the week positively.
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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.35% to 7,300.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:
The Coronado share price is up 3% to $1.65. This follows the release of the coal miner’s second-quarter update this morning. Coronado posted quarterly revenue of $728 million, bringing its first-half revenue to $1.49 billion. This was underpinned by a 15.3% increase in run of mine (ROM) coal production to 7.3 million tonnes.
The Flight Centre share price is up almost 2% to $22.08. This morning, the team at Ord Minnett responded positively to the travel agent’s update by upgrading its shares to a buy rating with a $26.75 price target. The broker is feeling a lot more positive about the company’s outlook and has upgraded its estimates accordingly.
The IPD share price is up 3.5% to $4.75. Investors have been buying this electrical market distributor and service provider’s shares after it announced an acquisition. IPD has acquired Perth-based EX Engineering for $10.2 million. EX Engineering specialises in designing, stocking, supplying, modifying and repairing electrical hazardous area equipment.
The Service Stream share price is up 3% to 84.5 cents. This follows news that the essential services company has signed two new agreements. Service Stream expects the agreements to generate approximately $340 million in revenue over their respective terms. One is a five-year agreement with AGL Energy Limited (ASX: AGL) to perform station maintenance at the Loy Yang Power site in the Latrobe Valley.
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 Ipd Group. The Motley Fool Australia has recommended Flight Centre Travel Group and Ipd Group. 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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