In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week in the red. At the time of writing the benchmark index is down 0.4% to 6,647.5 points.
Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:
City Chic Collective Ltd (ASX: CCX)
The City Chic share price has rocketed 14.5% higher to $3.63. Investors have been buying the retailer’s shares after it announced a binding asset purchase agreement to acquire UK-based women’s plus-size clothing retailer Evans for 23.1 million pounds (A$41 million). Management expects the acquisition to complete on 23 December 2020, subject only to payment of the cash consideration.
Kogan.com Ltd (ASX: KGN)
The Kogan share price has jumped 5% higher to $19.01. The catalyst for this appears to be the COVID-19 outbreak in New South Wales. Investors may be betting that the online retailer will be a big winner if consumers are forced to shop online again. In addition to this, Kogan’s shares commenced trading on the ASX 200 index this morning following the quarterly rebalance.
Next Science Ltd (ASX: NXS)
The Next Science share price is up over 5% to $1.25. Investors have been buying the medical device company’s shares after it announced the receipt of CE mark approval for its BlastX product. BlastX is an antimicrobial wound gel that uses the company’s biofilm-disrupting Xbio technology. It works by breaking down the protective layer of biofilm and eliminating the bacteria. After which, it maintains a moist wound environment which allows the healing process to begin.
NIB Holdings Limited (ASX: NHF)
The NIB share price is up almost 4% to $5.83. This gain has been driven by news that the private health insurer has received approval from the Federal Minister for Health to increase its insurance cover premiums for NIB health funds by an average of 4.36% across all products. These changes will come into effect on 1 April 2021. This is a larger than normal increase for NIB. Over the last three years, the company’s average premium increase was 3.55%.
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Returns as of 6th October 2020
More reading
- Here’s what is driving the NIB (ASX:NHF) share price higher today
- Why the Next Science (ASX:NXS) share price is 5% higher today
- Why the City Chic (ASX:CCX) share price is rocketing 15% higher
- 3 fantastic ASX growth shares to buy in 2021
- These are the 7 best ASX retail shares in 2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and Nexus Energy Limited. The Motley Fool Australia has recommended Kogan.com ltd and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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