In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to keep its impressive run alive and is up a further 0.9% to 6,102 points
Four shares that are climbing more than most today are listed below. Here’s why they are climbing higher:
The Clean TeQ Holdings Limited (ASX: CLQ) share price is up 6% to 99.2 cents after the cobalt-focused mineral exploration company provided an update on the progress it is making towards the Clean TeQ Sunrise Project. Management confirmed that its definitive feasibility study is on course to complete in June and that it is in discussions with numerous parties regarding potential offtake agreements.
The G8 Education Ltd (ASX: GEM) share price has climbed almost 7% to $2.34 after the childcare operator released its presentation ahead of today’s Macquarie Australia conference. The market appears to be relieved to see that G8 Education’s like-for-like occupancy levels have not deteriorated further since its last update. Like-for-like occupancy levels are down circa 2.5% to 3% so far in 2018. While it shares look cheap, I would stay clear of G8 Education until there is a serious improvement in its performance.
The SG Fleet Group Ltd (ASX: SGF) share price has surged 10% higher to $3.64. Like G8 Education, SG Fleet has presented at the Macquarie Australia conference today and won a few new admirers. While the fleet management company didn’t release any new financial information, it painted a reasonably positive picture of the industry.
The Super Retail Group Ltd (ASX: SUL) share price has jumped 8% to $7.55 after the retailer released a trading update ahead of its presentation at the Macquarie Australia conference. According to the release, the company’s Supercheap Auto and Rebel brands have seen like-for-like sales growth accelerate over the last three months. Taking some of the shine of the positive update was its BCF business which continues to struggle. Management has blamed this on unfavourable weather conditions.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Super Retail Group Limited. 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 Scott Phillips.
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