The S&P/ASX 200 index has started the week on a mildly disappointing note. In late morning trade the benchmark index is down 0.3% to 7,107.5 points.
Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:
The Brambles Limited (ASX: BXB) share price has surged almost 6% higher to $13.39. This follows the release of its half year results this morning. The logistics company revealed sales revenue growth of 7%, which was at the upper end of its guidance range. This reflected increased price realisation and robust volume growth. Underlying profit increased 5% over the prior corresponding period.
The Caltex Australia Limited (ASX: CTX) share price is up 3.5% to $34.72. Investors have been buying the fuel retailer’s shares after it revealed that takeover talks had advanced. Canada’s Alimentation Couche-Tard appears to have won over the Caltex board with its improved offer of $35.25 cash per share. This morning the company revealed that it has decided to provide Alimentation Couche-Tard with the opportunity to conduct additional due diligence on a non-exclusive basis.
The National Storage REIT (ASX: NSR) share price has risen almost 6% to $2.39. The catalyst for this gain is also a takeover approach. After the market close on Friday, the self-storage giant revealed that U.S. based Public Storage has offered to acquire it for a cash price of $2.40 per stapled security by way of inter-conditional company and trust schemes. This is superior to an offer made recently by GAW Partners. This appears to have sparked hopes of a bidding war between the two suitors.
The Regis Resources Limited (ASX: RRL) share price has stormed 5% higher to $4.50. This morning the gold miner released its interim results and reported a record half year profit. Regis reported a 17% increase in half year net profit after tax to $93.4 million. This was largely due to a jump in the gold price which offset lower sales volumes and higher all-in sustaining costs.
The post Why Brambles, Caltex, National Storage, & Regis shares are charging higher today appeared first on Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended National Storage REIT. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020