The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s heavy decline and is on course to finish the week on a high. In afternoon trade the benchmark index is up almost 0.6% to 6,163.8 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Afterpay Touch Group Ltd (ASX: APT) share price has pushed almost 4% higher to $17.21 despite there being no news out of the fast-growing fintech company. Earlier this week the Daily Mail reported that a Kmart spokesperson had confirmed that the Afterpay service could be available to shoppers from as early as next week. The response on social media has been overwhelmingly positive and I expect it to give its Australian sales a lift.
The iSentia Group Ltd (ASX: ISD) share price has rocketed 11% higher to 37 cents. The media monitoring company’s shares have been on fire this week despite recently being dumped out of the S&P/ASX 300. This latest gain means its shares have climbed 19% just this week, possibly due to bargain hunters sensing that its shares had bottomed after heavy declines.
The Myer Holdings Ltd (ASX: MYR) share price has built on yesterday’s incredible gain and is up a further 4% to 59.2 cents. The department store operator’s shares have been on fire since its CEO John King picked up 100,000 shares through on market trades on Thursday. This, and news that a couple of leading brokers had taken their sell ratings off its shares, appears to have improved investor sentiment and possibly led to some short sellers buying back shares in a hurry.
The Updater Inc (ASX: UPD) share price has jumped 8% to $1.13 after the U.S. based relocation platform provider released a business update. According to the release, the Updater platform is expected to handle at least 3 million relocations this year, up almost 27% on 2017’s numbers. Management also advised that during peak season it was handling 20% of all relocations in the United States.
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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. The Motley Fool Australia has recommended iSentia Group Ltd. 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.