In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to post another strong gain. At the time of writing the benchmark index is up a sizeable 1.2% to 6,098.1 points.
Four shares that are climbing more than most today are listed below. Here's why they are storming higher:
The Bellamy's Australia Ltd (ASX: BAL) share price is up 2.5% to $9.31. At one stage the infant formula and baby food producer's shares were up as much as 7.5% despite there being no news out of it today. Investors have been fighting to get hold of the company's shares in recent weeks following the release of bullish broker notes.
The CYBG PLC (ASX: CYB) share price has jumped 18% higher to $3.76 following the release of the UK-based bank's first quarter trading update after the market close on Wednesday. As well as reporting solid lending growth, Clydesdale & Yorkshire Bank said it expects to achieve even greater than expected synergies from its merger with Virgin Money. The bank now expects at least £150 million ($273 million) in savings before the end of FY 2021, which is a 25% increase from prior estimates.
The IDP Education Ltd (ASX: IEL) share price has surged 20% higher to $13.70 following the release of its interim results. In the first half of FY 2019 the education services provider posted an impressive 26% increase in total revenue to $304.3 million and a sizeable 34% lift in net profit after tax to $40.7 million. IDP Education reported further strong growth in Asia during the half.
The South32 Ltd (ASX: S32) share price is up 4.5% to $3.69. Investors have been fighting to get hold of mining shares this month following solid increases in commodity prices. Today's gain means that the diversified miner's shares have now risen by an impressive 14% since the start of the year.
