The S&P /ASX200 (ASX: XJO) is up 0.5% in lunchtime trade today as local investors gain some confidence from a strong finish to trade on Wall Street on hopes the US Fed may delay its rate hiking cycle.
On the local market shares in the technology, finance and healthcare sectors are pacing the index higher, so let’s take a look at some leading blue-chips shares moving higher today.
The Macquarie Group Ltd (ASX: MQG) share price is up 1.5% to $114.50 despite the investment bank releasing no specific news to the market. Macquarie is now forecasting profit growth up to 15% in FY 2019 after it agreed the sale of its interest in the oil and gas company Quadrant Energy. Macquarie shares are rising today, as sentiment improves alongside other major banks on the local stock market.
The Bravura Solutions Ltd (ASX: BVS) share price is 2% to $3.90 today as the ASX’s best technology shares catch a bid on the back of gains on the tech-heavy NASDAQ index in the US. Financial services software business Bravura grew its net profit 27% to $27 million on revenue of $221.5 million in FY 2018. It also managed to pay dividends per share of 9 cents, which puts it on a trailing yield of 2.3%. The company has nearly tripled in value since its November 2016 initial public offering and looks a profitable, junior software business for the watch list.
The Coles Group Ltd (ASX: COL) share price is up 3.6% to $12.53 today despite the supermarkets operator releasing no news to the market. Professional analysts have delivered a wide range of different opinions as to the value of Coles shares, with the stock falling from $13.11 on November 26 to just $11.49 on December 4. The selling the result of some legacy Wesfarmers shareholders choosing to divest minor ownership stakes. The Coles share price is probably rising today on the back of bargain hunters buying in.
The CSL Limited (ASX: CSL) share price is 2.6% to $183.80 as investors continue to digest its investor presentation on its research and development pipeline this week. CSL has around 30 different new treatments in the product pipeline and also reported that a cell-based flu vaccine it sells had been found to be far more effective than more traditional egg-based flu vaccines. The company also has CSL 112 in development, a drug it hopes could spin big profits if it’s successful in helping treat heart attack victims. CSL is guiding for profit growth between 10%-14% in FY 2019.
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Motley Fool contributor Yulia Mosaleva owns shares of CSL Ltd. and Macquarie Group Limited. The Motley Fool Australia owns shares of Bravura Solutions Ltd and COLESGROUP DEF SET. 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.