Thanks largely to gains in the resources sector, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pushed higher on Wednesday. In afternoon trade the index is up 0.1% to 6,069 points.
Four shares climbing more than most today are listed below. Here’s why they have surged higher:
The Creso Pharma Ltd (ASX: CPH) share price is up 6% to 98.5 cents. Almost all of Australia’s pot stocks are climbing higher today after their Canadian equivalents rallied hard overnight. Strong demand for recreational product in California and a new pot stock ETF were behind that rally.
The Fortescue Metals Group Limited (ASX: FMG) share price is one of a number in the resources sector pushing higher today. The iron ore miner’s shares are up 3% to $5.07 this afternoon thanks to a jump in the iron ore price.
The Pushpay Holdings Ltd (ASX: PPH) share price is up 4.5% to $3.97 following the release of a trading update. This morning the payment solutions company advised the market that it has achieved its target of US$100 million in annualised committed monthly revenue three months ahead of schedule.
The Resolute Mining Limited (ASX: RSG) share price has climbed 2% to $1.20 thanks to another rise in the gold price. A weakening U.S. dollar and rising tensions between the United States and North Korea are largely behind the move higher.