In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pushed higher and is on track to make it two consecutive days of gains. At the time of writing the benchmark index is 0.3% higher at 6,056 points.
Four shares which have pushed notably higher today are listed below. Here’s why they are posting strong gains:
The QBE Insurance Group Ltd (ASX: QBE) share price has pushed almost 6% higher to $11.04 despite yesterday’s disappointing trading update. Today’s gain is likely to be related to a positive broker note out of Macquarie which revealed that its analysts have upgraded the insurance giant’s shares to an outperform rating. The broker believes that the negative news flow is out of the way now.
The Santos Ltd (ASX: STO) share price is up 1.5% to $5.25 after providing the market with an update on its activities in FY 2017. The energy company reported production of 59.5 mmboe and sales volumes of 83.4 mmboe. Production was at the upper end of its guidance and sales were ahead of guidance.
The Swift Networks Group Ltd (ASX: SW1) share price has jumped 8% to 46.5 cents following the release of its half-year update. The telecommunications and content solutions provider advised that it expects to report half-year revenue of $10.4 million and EBITDA of $1 million. This will be an increase of 32% and 100%, respectively, on the prior corresponding period. Pleasingly, annual contracted revenues are up 35% since 30 June 2017. I think Swift Networks is worth a closer look.
The Wattle Health Australia Ltd (ASX: WHA) share price is 4% higher at $1.96 after releasing its quarterly update. The baby food and infant formula company delivered a strong increase in cash receipts during the quarter, albeit from a low base. Management also revealed that it expects to gain its CFDA accreditation in the near future, allowing it to commence sales activities in the lucrative China market.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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