The S&P/ASX 200 Index (ASX: XJO) is on course to end the shortened week on a positive note. At the time of writing, the benchmark index is up 0.5% to 6,676.7 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
AVZ Minerals Ltd (ASX: AVZ)
The AVZ Minerals share price has jumped over 17% to 11.5 cents. This follows the announcement of an offtake agreement by the lithium miner this morning. AVZ has signed a strategic, long-term offtake partnership with GFL International, a subsidiary of China’s largest lithium compounds producer, Ganfeng Lithium. GFL has signed on to take 30% of its Manono Project’s initial saleable yearly tonnage.
BrainChip Holdings Ltd (ASX: BRN)
The BrainChip share price has rocketed 29% higher to 42 cents. Investors have been buying the artificial intelligence company’s shares after the release of two announcements. The first revealed that NASA has placed an order for its Akida Early Access Evaluation Kit. Whereas the second announcement reveals that it signed an intellectual property license agreement with Renesas Electronics America.
BSA Limited (ASX: BSA)
The BSA share price is up 3% to 34 cents. The catalyst for this was news that the technical services company has entered an agreement to provide Telstra Corporation Ltd (ASX: TLS) with field operations services in partnership with Kordia Solutions. The agreement has an initial term of three years and is projected to generate around $25 million in revenue in the first year of the contract.
Credit Corp Group Limited (ASX: CCP)
The Credit Corp share price has surged 19% higher to $29.63. This follows the release of an announcement which reveals that it has entered into a binding agreement to acquire the Australian Purchased Debt Ledger (PDL) book of Collection House Group Limited (ASX: CLH). Credit Corp has agreed to pay a total consideration of approximately $160 million plus the provision of a short-term loan of $15 million, which is expected to be fully repaid within 9 months.
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Returns as of 6th October 2020
More reading
- BrainChip (ASX:BRN) share price on watch following major announcements
- Why the BSA (ASX:BSA) share price is on watch today
- Why Brainchip Holdings (ASX:BRN) shares are in a trading halt
- Why the BSA (ASX:BSA) share price has surged 7% higher today
- Why the BrainChip (ASX:BRN) share price is charging higher
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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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