Thanks partly to strong gains in the consumer staples and utilities sectors the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is finishing the week with a bang. In afternoon trade the index is up 0.5% to 5,772 points.
Four shares which have had a stunning end to the week are listed below. Here's why they've rocketed higher today:
The Afterpay Holdings Ltd (ASX: AFY) share price is up 5% to $2.27 today after the fintech star announced an agreement with ecommerce giant BigCommerce. The deal will see BigCommerce integrate Afterpay's buy now, receive now, pay later service into its platform. This will allow BigCommerce's 100,000 active online merchants to effortlessly offer Afterpay's service to their customers.
The CSR Limited (ASX: CSR) share price has jumped 5% to $4.85 despite there being no news out of the building products company. Its shares received a slight boost this morning when a research note out of Ord Minnett revealed that its analysts had upgraded CSR from lighten to a hold rating. They believe that rising aluminium prices will give the company a lift.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has climbed 3.5% to $29.88 today despite there being nothing of note out of the company. But with its shares changing hands at 14x estimated FY 2017 earnings according to CommSec, I can't say I'm surprised to see investors snapping up its shares. It may be going through a difficult period now, but I believe it has invested smartly and has set itself up for solid long-term growth.
The Sirtex Medical Limited (ASX: SRX) share price has climbed 3.5% to $17.37 despite the biotechnology company being kicked out of the S&P/ASX 100 (Index: ^AXTO) (ASX: XTO) in the latest quarterly rebalances. Both Sirtex and Blackmores Limited (ASX: BKL) will be removed and replaced with Evolution Mining Ltd (ASX: EVN) and Macquarie Atlas Roads Limited (ASX: MQA) on March 20.
