In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a positive note. At the time of writing the benchmark index is up a sizeable 1.6% to 5,583.4 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
The Afterpay Ltd (ASX: APT) share price has jumped 6% higher to $47.24. This morning the payments company announced that Elana Rubin will become its permanent Chair with immediate effect. Rubin intends to retire from the ME Bank board following its June 2020 meeting, but will remain as a Non-Executive Director on the boards of Telstra Corporation Ltd (ASX: TLS) and Slater & Gordon Limited (ASX: SGH).
The Flight Centre Travel Group Ltd (ASX: FLT) share price has climbed 5.5% higher to $11.92. The prospect of New Zealand opening up its borders to Australian tourists could be behind this gain. It isn’t just Flight Centre on the rise. A number of travel shares have started the week in a very positive fashion.
The TPG Telecom Ltd (ASX: TPM) share price is up 3% to $8.04. The catalyst for this gain appears to have been a broker note out of Morgans this morning. According to the note, the broker has upgraded TPG Telecom’s shares to an add rating with an improved price target of $9.14. It sees a lot of positives in its merger with Vodafone Australia.
The Western Areas Ltd (ASX: WSA) share price has pushed 2.5% higher to $2.28. This morning the nickel producer announced that it has entered into a subscription agreement with Panoramic Resources Limited (ASX: PAN) to acquire up to 19.9% of its rival. Western Areas will pay cash of $28.6 million for the stake in the junior nickel producer. This investment provides Western Areas with exposure to the future restart of the promising Savannah Project.
Missed out on these gains? Then don’t miss out on these dirt cheap shares before they rebound…
5 cheap stocks that could be the biggest winners of the stock market crash
Investing expert Scott Phillips has just named what he believes are the 5 cheapest and best stocks to buy right now.
Courtesy of the crashing stock market, these 5 companies are suddenly trading at significant discounts to their recent highs… creating what could be incredible opportunities for bargain-hungry investors.
Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares to buy now… before the next stock market rally.
More reading
- Should you invest $1,000 in Altium shares today?
- Why these ASX stocks will be under the spotlight on Monday
- Why Afterpay and cohorts could confirm the economy bottomed in April
- How these 3 ASX financial shares have proved their doubters wrong
- How to use ASX shares to become a millionaire
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Flight Centre Travel Group 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 post Why Afterpay, Flight Centre, TPG Telecom, & Western Areas are charging higher appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/2yvwOfJ
Leave a Reply