The S&P/ASX 200 index has returned to form on Friday and is on course to finish the week on a positive note. In afternoon trade the benchmark index is up a decent 0.25% to 6,353.3 points.
Four shares that have climbed more than most today are listed below. Here's why they are ending the week on a high:
The Afterpay Touch Group Ltd (ASX: APT) share price is up almost 4% to $27.87 after the payments company announced the signing of a US$300 million receivables funding facility with Citi to support the expansion of its U.S. business. This receivables funding facility will support in excess of US$4 billion in annual underlying sales in the massive U.S. market.
The Orocobre Limited (ASX: ORE) share price has stormed over 9% higher to $3.78 despite there being no news out of the lithium miner. Investor sentiment in the lithium industry has improved greatly this week after Wesfarmers Ltd (ASX: WES) announced a takeover proposal for Western Australia-based lithium miner Kidman Resources Ltd (ASX: KDR). Wesfarmers believes Kidman and its Mt Holland project will benefit greatly from the global uptake of electric vehicles.
The ResMed Inc. (ASX: RMD) share price has surged 9.5% higher to $16.21 after the sleep treatment specialist released its third quarter update. ResMed posted a 12% increase in quarterly revenue to $662 million, or 15% on a constant currency basis. This was driven by top line revenue growth across all categories of its business.
The Superloop Ltd (ASX: SLC) share price has pushed 5% higher to $1.90 after the independent provider of connectivity services revealed that it received a takeover proposal last month. According to the release, QIC Private Capital has made a non-binding, conditional, and indicative proposal to acquire the company for $1.95 per share. Exclusive due diligence was granted on April 28 and is ongoing.
