Why APM, Block, Breville, and Superloop shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to start the week with a strong gain. At the time of writing, the benchmark index is up 1.1% to 6,612.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

APM Human Services International Ltd (ASX: APM)

The APM share price is up 9.5% to $3.20. This morning this human services provider announced the establishment of an $810 million syndicated multi-currency revolving corporate facility. These funds will be used to close a previous loan facility, which management expects to result in annual pre-tax interest savings of $15 million.

Block Inc (ASX: SQ2)

The Block share price is up 4% to $91.80. Investors have been buying this payments company’s shares following an equally solid rise from its NYSE listed shares on Friday evening. That was driven by a rebound in the tech sector. The local tech sector is also rising today, with the S&P ASX All Technology index up 1.45% this afternoon.

Breville Group Ltd (ASX: BRG)

The Breville share price is up 5% to $19.03. This morning the appliance manufacturer announced the completion of the LELIT acquisition. Breville is paying a total of $140 million in cash and shares to acquire the premium prosumer home coffee equipment company. Key members of the LELIT management team, including the founders, have joined Breville and its integration is underway.

Superloop Ltd (ASX: SLC)

The Superloop share price is up 4.5% to 73.2 cents. The catalyst for this was news that the telco is planning to undertake an on-market buyback. Superloop intends to buy back upwards of 10% of its issued share capital. This follows the divestment of the company’s assets in Hong Kong and Singapore in April, which generated cash proceeds of $125 million.

The post Why APM, Block, Breville, and Superloop shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• What’s pushing APM Human Services shares 9% higher today?
• These are the 10 most shorted ASX shares
• The Block share price plummeted 28% in June. Here’s why
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and SUPERLOOP FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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