The S&P/ASX 200 index has returned to form on Thursday and is poised to record a solid gain. In afternoon trade the benchmark index is up 0.4% to 6,293.7 points.
Four shares that have climbed more than most today are listed below. Here’s why they have surged higher:
The FlexiGroup Limited (ASX: FXL) share price is 5.5% higher to $1.77. Investors have been fighting to get hold of the company’s shares this week after it released an update on the progress of its buy now, pay later platform, humm. Management revealed that it has added some major retailers to the platform including IKEA, JB Hi-Fi Limited (ASX: JBH) New Zealand, and Myer Holdings Ltd (ASX: MYR).
The Orica Ltd (ASX: ORI) share price has surged 5.5% higher to $19.69 following the release of a better than expected half year result from the commercial explosives company. In the first half of FY 2019 Orica posted sales growth of 12% to $2.8 billion and a 35% increase in underlying net profit to $166.7 million.
The Qantas Airways Limited (ASX: QAN) share price has risen 3.5% to $5.63 after the release of the airline’s third quarter update. Qantas revealed a strong third quarter performance despite the negative impact of the Easter holiday period shifting into the fourth quarter. In light of this solid revenue growth, the company is on track to fully offset the impact of significantly higher fuel costs. Qantas also announced the sale of its terminal at Melbourne Airport to the airport operator.
The Wattle Health Australia Ltd (ASX: WHA) share price is up 3.5% to 78 cents after the healthy products and infant formula company announced that it has signed a US$75 million debt facility term sheet with Gramercy Funds Management. The company signed the debt facility with the U.S. based emerging markets investment manager in order to complete the purchase of a majority stake in Australia-based CNCA certified manufacturing plant Blend and Pack from Mason Group Holdings for US$55 million.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended FlexiGroup Limited. 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. 2019