The overall S&P/ASX 200 index raced higher today in morning trade, up 66.7 points to 6083 at the time of writing with stocks from varying sectors leading the way on the gains list.
Bellamy’s Australia Ltd (ASX: BAL) looks to be recovering from its downturn earlier this week to dominate the gains list at the time of writing – up 5% to $17.00.
With no significant news out of the infant formula company of late, Bellamy’s shed some share price dollars alongside other peers in the sector this week, with A2 Milk Company Ltd (ASX: A2M) shares experiencing some volatility since May but A2 will finish the week on a high up 1.8% to $10.85 at the time of writing.
Elsewhere in the sector, Bubs Australia Ltd (ASX: BUB) was placed in a trading halt yesterday upon request as it prepares for a capital raising announcement that has all shareholders on tenterhooks.
Bubs has had a disappointing quarter, with its cash balance dropping from $8.7 million in the previous quarter to $5.6 million.
Wattle Health Australia Ltd (ASX: WHA) has returned to trade after a trading halt was issued on June 12 pending an announcement on June 14 that its entitlement offer was completed and $33.9 million was raised.
Wattle shares are up 2.3% to $1.29 at the time of writing.
In the commodity space, Beach Energy Ltd (ASX: BPT) is sitting pretty on the S&P/ASX 200 gains list – up 3.7% to $1.78 at the time of writing – possibly buoyed by rumours of more acquisition activity in the wind and a favourable drilling report released earlier this month.
Beach shares have zoomed upwards in the past 12 months – rising 196% from its share price of just 60c per share at this time last year.
It’s been a mixed week for oil stocks as global oil prices have been up and down, with Oil Search Limited (ASX: OSH) shares up 1.3% to $8.49 at the time of writing after a less-successful start to the week.
Online employment classifieds platform SEEK Limited (ASX: SEK) is not only near the top of the S&P/ASX 200 gains list at the time of writing – up 3% to $21.81 – but its shares are also at an all-time high despite overall unemployment figures dropping lower over the last quarter on home soil.
Seek has been at the top of its game of late with its share price up almost 30% from its $16.74 share price at this time last year. The gain is attributable to strong performance and full-year net profit guidance expected to be between $225 million and $230 million.
Tech stock peer REA Group Limited (ASX: REA) has also fared well in terms of share pricing in the last 12 months, up slightly to $90.13 at the time of writing after recovering well from its May dip down to $85.81.
Plenty of investors still feel wary of the tech stock space, but most will regret their tentativeness in the future if they ignore emerging players like Bravura Solutions Ltd (ASX: BVS) and ELMO Software Ltd (ASX: ELO) with both zooming ahead in their niche with some pretty impressive growth plans in the pipeline.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended ELMOSFTWRE FPO. The Motley Fool Australia owns shares of A2 Milk and Bravura Solutions Ltd. The Motley Fool Australia has recommended REA Group Limited and SEEK 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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