The S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is on course to record a strong gain. In late morning trade the benchmark index is up 0.85% to 6,094.8 points.
Four shares that are climbing more than most today are listed below. Here’s why they are jumping higher:
The Credit Corp Group Limited (ASX: CCP) share price has jumped 11.5% higher to $18.83. This follows the release of its full year results this morning. The debt collector delivered a net profit after tax of $15.5 million. This was a sharp year on year decline and driven by impairments and additional provisioning due to the pandemic. However, excluding one-off adjustments, net profit after tax would have been up 13% to $79.6 million.
The Nufarm Limited (ASX: NUF) share price has surged 7% higher to $4.26. The catalyst for this appears to be a broker note out of UBS this morning. According to the note, the broker has upgraded the agricultural chemicals company’s shares to a buy rating with a $5.19 price target. It feels that its European business could be on the verge of rebounding after some tough times.
The Regis Resources Limited (ASX: RRL) share price is up over 3% to $6.14 following the release of its fourth quarter update. Regis revealed quarterly production of 87,260 ounces, bringing its full year gold production to 352,042 ounces. This helped drive record cash flow from operations of $109 million for the June quarter.
The Temple & Webster Group Ltd (ASX: TPW) share price is up 3.5% to $8.06. Investors have been buying the online homewares company’s shares after the release of its full year results. For the 12 months ended 30 June 2020, Temple & Webster reported revenue of $176.3 million and earnings before interest, tax, depreciation, and amortisation (EBITDA) of $8.5 million. This represents a 74% and 467% increase, respectively, on the prior corresponding period.
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More reading
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- Temple & Webster share price hits record high on stellar FY 2020 growth
- 5 things to watch on the ASX 200 on Tuesday
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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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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 Credit Corp, Nufarm, Regis, & Temple & Webster shares are jumping higher appeared first on Motley Fool Australia.
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