The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to continue its positive run and is up a further 0.2% to 5,902 points in afternoon trade.
Four shares which have climbed more than most today are listed below. Here's why they have surged higher:
The Afterpay Touch Group Ltd (ASX: APT) share price has continued its spectacular run and is over 10% higher at $5.19. This morning the payment solutions company released its quarterly business update which revealed that underlying annualised sales are now tracking in excess of $1.5 billion based on its recent monthly performance. Despite its stellar rise, I continue to believe Afterpay is a great long-term investment option.
The Big Un Ltd (ASX: BIG) share price is up 10% to $2.36 after the video technology company announced its plan to launch a channel on Apple TV next month. This is part of management's plan to begin monetizing the 130,000+ hours of video content it has created. I have been very impressed with Big Un's development and think investors should take a closer look at it.
The Brambles Limited (ASX: BXB) share price is up 2% to $9.45 following the release of its first-quarter trading update. The supply chain logistics company reported an 8% increase in sales from continuing operations to $1,374 million. Its shares were notably higher in morning trade but appear to have been weighed down over speculation that Maurice Blackburn is planning to serve it with a class action.
The St Barbara Ltd (ASX: SBM) share price has climbed 11% to $2.97 a day after releasing its quarterly production update. One broker which clearly was impressed was Deutsche Bank. This morning the broker retained its buy rating and increased the price target on the gold miner's shares to $3.20.
