The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a positive note. In afternoon trade the benchmark index is up a solid 0.5% to 5,880.4 points.
Four shares that have climbed 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 is up over 12% to $16.00 following the release of a global business update this morning. Thanks partly to a record month in December, underlying sales in the first half were up 140% on the prior corresponding period to $2.2 billion. Afterpay also reported strong growth in the United States, with underlying sales growing to $260 million in the first half. This compares to ~$115 million of underlying sales at the end of October.
The Appen Ltd (ASX: APX) share price has zoomed 4.5% higher to $15.50. A number of top Australian tech shares have pushed higher on Friday after a positive night of trade for their U.S. counterparts on the Nasdaq. The S&P/ASX 200 Info Tech index is up a solid 1.5% at the time of writing.
The Credit Corp Group Limited (ASX: CCP) share price has climbed 6% to $21.32. The catalyst for this gain appears to have been a broker note out of Morgans this morning. According to the note, the broker has retained its add rating and lifted the price target on its shares to $22.65 ahead of its half year results release at the end of the month.
The Kogan.com Ltd (ASX: KGN) share price has rocketed a further 13% higher to $4.50. Investors have been fighting to get hold of the ecommerce company’s shares following the release of a trading update yesterday. That update revealed that Kogan generated record trading in the peak Christmas period with its Black Friday and Boxing Day sales. This strong performance means the company expects to report a 9.7% increase in first half revenue compared to the prior corresponding period.
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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 and Appen Ltd. The Motley Fool Australia has recommended Kogan.com 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.
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