In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its early declines and is just a fraction lower at 5,935.8 points.
Four shares that haven’t let that hold them back today are listed below. Here’s why they are pushing higher:
The Afterpay Touch Group Ltd (ASX: APT) share price has rebounded from yesterday selloff with a 14% rise to $12.93. This morning Afterpay Touch responded to media reports in relation to a proposed Australian Senate inquiry into parts of the finance sector. The fintech company welcomed the opportunity to participate in any industry review and advised that it is supportive of appropriate regulation.
The Eden Innovations Ltd (ASX: EDE) share price has zoomed 18% higher to 11 cents after the clean energy company announced the completion of a joint evaluation of its EdenCrete admixture with the Metropolitan Atlanta Rapid Transit Authority. According to the release, the field trial at the Brady Mobility Facility in Atlanta has been a success. The Authority found that the use of EdenCrete will provide it with significant savings by reducing both the life cycle cost and the frequency of maintenance.
The Insurance Australia Group Ltd (ASX: IAG) share price has climbed 3% higher to $7.21 after being the subject of a positive broker note out of Credit Suisse. According to the note, the broker has upgraded the insurance company’s shares to an outperform rating with a $7.90 price target. Credit Suisse is comfortable with the company’s guidance for FY 2019 and believes a special dividend and share buyback is likely.
The Super Retail Group Ltd (ASX: SUL) share price has risen 2.5% to $9.34. Today’s share price gain is likely to be attributable to a broker note out of Morgans. According to the note, the broker has upgraded the retailer’s shares to an add rating from hold and increased the price target on its shares to $10.44. The broker is expecting Super Retail to deliver more solid growth in FY 2019, allowing it to pay down its debt significantly.
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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, Insurance Australia Group Limited, and 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.