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Why these 4 ASX shares are jumping higher today

High

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a much-needed positive day of trade. In afternoon trade the benchmark index is up 0.1% to 6,192.3 points.

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

The Afterpay Touch Group Ltd (ASX: APT) share price has climbed 4.5% higher to $16.71 despite there being no news out of the fintech star. This latest gain means that the Afterpay Touch share price has risen 7.5% since this time last week. Some investors appear to be seizing on recent share price weakness to top up holdings.

The Clean TeQ Holdings Limited (ASX: CLQ) share price has pushed over 4% higher to 50 cents. Earlier this week the metals recovery company advised of encouraging progress towards the development of a graphene-oxide based water filtration membrane. As a result, Clean TeQ is to form an incorporated joint venture with Ionic Industries to further develop and commercialise this opportunity. According to management, the value of the spiral membrane market is expected to grow from US$5.1 billion in 2018 to US$8.2 billion by 2023.

The Mesoblast limited (ASX: MSB) share price has jumped 6.5% to $1.99. The allogeneic cellular medicine developer’s shares have been on fire since last week when it announced strong survival outcomes through Day 180 in children with steroid refractory acute Graft Versus Host Disease treated with its Phase 3 product candidate remestemcel-L. Its shares are up 18% since this time last week.

The St Barbara Ltd (ASX: SBM) share price has bounced back from a heavy selloff and is up 4% to $3.43. Prior to today St Barbara’s shares had fallen almost 16% since the start of the week to a 2018 low. Judging by today’s gain, some investors appear to believe its shares were oversold and in the bargain bin.

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Returns as of 6th October 2020

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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