It has been a bumpy ride for the S&P/ASX 200 Index (ASX: XJO) on Thursday. After a number of ups and downs, in late morning trade the benchmark index is down slightly to 6,852.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are racing higher:
Mesoblast limited (ASX: MSB)
The Mesoblast share price is up 4.5% to $2.68 following the release of a trial update. According to the release, the results of a phase three trial indicate that a single injection of rexlemestrocel-L may provide a safe, durable, and effective opioid-sparing therapy for patients with chronic inflammatory back pain due to degenerative disc disease. The study notes that the greatest benefits were seen when administered earlier in the disease process before irreversible fibrosis of the intervertebral disc has occurred.
Newcrest Mining Ltd (ASX: NCM)
The Newcrest share price has climbed 5.5% to $26.61. This follows the release of the gold miner’s half year results this morning. For the six months ended 31 December, Newcrest reported a 21% increase in revenue to US$2.17 billion. Things were even better on the bottom line, with the company reporting a 98% jump in underlying profit to US$553 million. This was driven by a 48% increase in its all-in sustaining cost (AISC) margin to US$842 per ounce.
Sezzle Inc (ASX: SZL)
The Sezzle share price is up 4.5% to $10.97. Investors have been buying the buy now pay later provider’s shares following the announcement of a new receivables funding facility. The US$250 million facility will be used to support the expansion of the company’s business in the United States and Canada. Positively, the new facility also lowers its cost of funding, which will provide a positive effect on Sezzle’s net transaction margin over time.
Telstra Corporation Ltd (ASX: TLS)
The Telstra share price is up almost 3% to $3.26. The catalyst for this was the release of a solid half year result this morning. Investors appear pleased that the Telstra board plans to maintain its 16 cents per share fully franked dividend in FY 2021. Management’s bold growth plans also appear to have caught the eye of investors.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- Why AMP, Ecofibre, Magellan, & Vita shares are sinking today
- Why the Newcrest Mining (ASX:NCM) share price is up 5%
- Here’s why the Sezzle (ASX:SZL) share price is surging 6% higher today
- Why the Vita (ASX:VTG) share price is crashing 31% lower today
- 4 steps to pick winning ASX shares
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Mesoblast, Newcrest, Sezzle & Telstra shares are racing higher appeared first on The Motley Fool Australia.
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