In late morning trade the S&P/ASX 200 Index (ASX: XJO) looks set to end its winning run. At the time of writing, the benchmark index is down 0.3% to 6,861.6 points.
Four ASX shares that have not let that hold them back are listed below. Here’s why they are storming higher:
Douugh Ltd (ASX: DOU)
The Douugh share price is up 13% to 17.5 cents. Investors have been buying the financial wellness app provider’s shares after it revealed a new feature to partly automate saving and bill paying. However, Douugh continues to avoid revealing just how many active users it has on its app.
Macquarie Group Ltd (ASX: MQG)
The Macquarie share price has jumped 7% to $143.95 following the release of its third quarter update. According to the release, Macquarie experienced improvements in trading across its business during the three months ended 31 December. Looking ahead, management advised that it expects to report a full year profit result slightly down on FY 2020.
Starpharma Holdings Limited (ASX: SPL)
The Starpharma share price has stormed 5% higher to $2.05. Investors have been buying the dendrimer product developer’s shares following the release of an announcement relating to its AZD0466 product. According to the release, AstraZeneca has informed Starpharma of its intention to expand the clinical program for AZD0466 to include a multi-centre global Phase 1 study. The study will recruit patients with acute leukaemias.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is up almost 3% to $10.72. This follows the release of the banking and insurance giant’s half year results this morning. For the six months ended 31 December, Suncorp reported a 39.5% increase in half year cash profit to $509 million. And while its net profit after tax was down 23.7% to $490 million, this was driven largely by an asset sale in the prior corresponding period. In October 2019, Suncorp recorded a $293 million gain on the sale of the Capital S.M.A.R.T and ACM Parts businesses.
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Returns as of 6th October 2020
More reading
- Why the Starpharma (ASX:SPL) share price hit a record high today
- Why the Douugh (ASX:DOU) share price is charging 16% higher today
- Here’s why the Macquarie (ASX:MQG) share price is surging 7% higher
- Why the Suncorp (ASX:SUN) share price is in focus
- 5 things to watch on the ASX 200 on Tuesday
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 Starpharma Holdings Limited. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Douugh, Macquarie, Starpharma, & Suncorp shares are storming higher appeared first on The Motley Fool Australia.
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