The S&P/ASX 200 index is on course to record another gain on Thursday. In afternoon trade the benchmark index is up 0.15% to 7,099.4 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
The Goodman Group (ASX: GMG) share price has jumped 5.5% to $16.26. This morning the property company announced a 14.1% increase in first half operating profit to $530.4 million and a 12.9% uplift in operating earnings per share to 28.8 cents. Pleasingly, this strong first half performance led to Goodman upgrading its FY 2020 earnings per share guidance to 57.3 cents. This will be an 11% increase on FY 2019’s result.
The IPH Ltd (ASX: IPH) share price is up 3.5% to $9.84 following the release of its first half results. These were the first results the intellectual property services company has released since the acquisition of rival Xenith IP. And so far so good for the new addition. For the six months ended December 31, IPH posted revenue of $179.3 million. This was a 46% increase on the prior corresponding period and was driven by a 6% lift in like-for-like revenue and the benefits of acquisitions.
The Lynas Corporation Ltd (ASX: LYC) share price has surged 8% higher to $2.28. This follows speculation on the Malaysiakini website relating to the renewal of its Malaysian operating licence. Lynas responded to the speculation, advising that it hasn’t received notification of such a renewal. The company has submitted its licence renewal documentation to the Malaysian Atomic Energy Licensing Board, but continues to await the regulator’s decision.
The National Australia Bank Ltd (ASX: NAB) share price is pushing almost 2% higher to $26.57. This follows the release of its first quarter update this morning. Investors were pleased to see NAB deliver a 1% increase in cash earnings for the December quarter thanks to a slightly higher net interest margin. And although the MLC wealth management divestment may be delayed until after the current financial year, it hasn’t stopped investors from buying its shares today.
The post Why Goodman, IPH, Lynas, & NAB shares are charging higher 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 owns shares of National Australia Bank 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.
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