The S&P/ASX 200 index has continued its positive run and pushed higher again on Thursday. In afternoon trade the benchmark index is up 0.25% to 6,300.4 points.
Four shares that have climbed more than most today are listed below. Here's why they have jumped higher:
The Aristocrat Leisure Limited (ASX: ALL) share price has raced 4.5% higher to $26.77. This morning the gaming technology company was the subject of a positive broker note out of Ord Minnet. According to the note, the broker has retained its buy rating and lifted its price target on the company's shares to $33.25 ahead of its half year results release next week.
The AusCann Group Holdings Ltd (ASX: AC8) share price has jumped almost 7% to 39.5 cents despite there being no news out of the medicinal cannabis company. However, prior to today the company's shares were down 41% year to date. Some investors may believe that the selling has been overdone and has created a buying opportunity.
The AVITA Medical Ltd (ASX: AVH) share price has stormed almost 11.5% higher to 49 cents after the regenerative medicine company announced that the health economic model of the U.S. burn care pathway has been published in the peer-reviewed journal, Advances in Therapy. The model demonstrates that utilising AVITA Medical's RECELL System for the treatment of in-patient burns is cost-saving or cost-neutral and results in a reduced length of hospital stay as compared to the current standard of care.
The Xero Limited (ASX: XRO) share price is up a massive 12% to $60.90 following the release of the business and accounting software company's full year results. In FY 2019 Xero posted a 36% increase in operating revenue to $552.8 million and a 32% lift in Annualised Monthly Recurring Revenue (AMRR) to $638.2 million. This was driven by a 31% jump in total subscribers to 1.818 million and a modest rise in average revenue per user.
