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Why Leigh Creek, LiveTiles, St Barbara, & Webjet shares stormed higher today

asx shares higher

The S&P/ASX 200 Index has fought back from a disappointing start and is pushing higher in afternoon trade. At the time of writing the benchmark index is up almost 0.2% to 6,232 points.

Four shares climbing more than most today are listed below. Here’s why they have stormed higher:

The Leigh Creek Energy Ltd (ASX: LCK) share price has jumped 10.5% to 31.5 cents after the energy producer released details of an interview featuring its executive chair, Justyn Peters. According to the release, the interview outlined the comparative size and monetary value of the company’s recent reserve upgrade, details on an independent company valuation, and management’s next steps towards commercialising its asset.

The LiveTiles Ltd (ASX: LVT) share price has risen 2.5% to 57.5 cents after the intelligent workplace platform provider released an update on its annualised recurring revenue (ARR). According to the release, LiveTiles’ strong growth has continued in the latest quarter and its ARR has now reached $34.5 million. This is an increase of 208% on the prior corresponding period.

The St Barbara Ltd (ASX: SBM) share price has pushed 3% higher to $3.40. As well as getting a boost from a solid rise in the gold price overnight thanks to a weaker U.S. dollar, this morning Element 25 Ltd (ASX: E25) announced that St Barbara has acquired 100% of its Green Dam Project for $0.7 million.

The Webjet Limited (ASX: WEB) share price has surged 4% higher to $15.82 after the online travel agent released an investor presentation ahead of its appearance at the UBS Emerging Companies Conference. Within the presentation Webjet provided more details around its new business unit, Umrah Holidays International, which aims to be a pioneer in the online provision of religious pilgrimage travel services. It also confirmed that it is on track to deliver at least $120 million EBITDA in FY 2019, representing annual growth of 37%.

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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 has no position in any of the stocks mentioned. 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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