In late morning trade the S&P/ASX 200 Index (ASX: XJO) has given back some of its early gains but is still trading higher. At the time of writing, the benchmark index is up 0.2% to 6,723.1 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Accent Group Ltd (ASX: AX1)
The Accent share price is up 3.5% to $2.43. This follows the release of a trading update after the market close on Thursday. That update revealed that the footwear retailer’s strong performance continued over the important holiday period. For the two months to 27 December, the company’s total sales were up 12.3% and like-for-like sales grew 7.4%. Excluding the closure of Auckland, Victoria, and Adelaide stores, like-for-like sales grew 12.3% during the first half.
Afterpay Ltd (ASX: APT)
The Afterpay share price is up 5% to $114.25. Investors have been buying the payments company’s shares following a strong rise on the Nasdaq index overnight. The technology-focused index rose over 2.5% to close above the 13,000 points mark for the first time. The local tech sector has a habit of following the lead of the Nasdaq.
Creso Pharma Ltd (ASX: CPH)
The Creso Pharma share price has jumped a further 5.5% to 28 cents. The catalyst for this was the Democrats winning control of the Senate on Thursday. This is expected to lead to significant policy change in the United States in relation to the decriminalisation of cannabis. Creso Pharma believes it is well-positioned to benefit from any changes to legislation.
Thorn Group Ltd (ASX: TGA)
The Thorn share price is up 3% to 19 cents following the release of a business update. Thorn revealed that initiatives underway in its Radio Rentals and Business Finance divisions are going well. The company’s CEO, Pete Lirantzis, commented: “These initiatives are already reaping tangible results and we expect will deliver enhanced value for all shareholders.”
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Returns as of 6th October 2020
More reading
- Here’s why the Afterpay (ASX:APT) share price is surging higher
- Why the Accent (ASX:AX1) share price will be on watch this morning
- Why the Creso Pharma (ASX:CPH) share price rocketed 47% higher
- 5 things to watch on the ASX 200 on Friday
- ASX 200 rose 1.6%
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Accent Group. 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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