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Why these 4 ASX shares jumped higher today

It has been another positive day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is up 0.3% to 6,263.2 points.

Four shares that have climbed more than most today are listed below. Here’s why they are jumping higher:

The Afterpay Touch Group Ltd (ASX: APT) share price has rocketed 20.5% higher to $13.61 following the release of a positive business update. According to today’s release, following a strong fourth-quarter the company saw over $2.18 billion of total underlying sales processed through its Afterpay platform in FY 2018. This is an impressive 289% increase on FY 2017. The company also revealed that its U.S. expansion had started well.

The Ainsworth Game Technology Limited (ASX: AGI) share price has jumped almost 8% higher to $1.11 following a surprise guidance upgrade. The company had recently advised that full-year profit before tax (excluding currency movements) was expected to be $36 million in FY 2018. But due to a late order increase from Churchill Downs Incorporated, this is now expected to come in at $39 million.

The Cimic Group Ltd (ASX: CIM) share price has surged 14.5% higher to $49.00 following the release of the infrastructure services company’s half year results. Investors have responded well to the company reporting a 12% increase in net profit after tax to $363 million during the half. This was driven by solid revenue growth across all operating segments. Management provided full-year profit guidance of $720 million to $780 million.

The HUB24 Ltd (ASX: HUB) share price has zoomed 8.5% higher to $13.89 after the fintech company released a trading update. HUB24 reported net inflows of $739 million in the fourth-quarter, which is the second highest on record. This took its funds under administration to $8.3 billion, up 51.2% on June 2017. This latest gain means that HUB24’s shares have now more than doubled in value over the last 12 months.

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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 AFTERPAY T FPO. 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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