The S&P/ASX 200 is on course to continue its solid run on Thursday. In afternoon trade the benchmark index is up 0.3% to 6,665.8 points.
Four shares that are climbing more than most today are listed below. Here’s why they have stormed higher:
The Afterpay Touch Group Ltd (ASX: APT) share price has continued its recovery and is up over 5% to $23.22. Once again, it appears as though bargain hunters have taken advantage of the recent selloff to pick up shares. The payments company’s shares have come under pressure this month after it revealed that AUSTRAC has ordered an audit of its compliance with money laundering and terrorism-financing laws.
The People Infrastructure Ltd (ASX: PPE) share price has jumped 5.5% to $3.31 a day after the technology-enabled workforce management company entered into agreements to acquire Queensland-based healthcare staffing agencies First Choice Care and Carestaff Nursing Services. One broker that was pleased with the deal was Ord Minnett. This morning it retained its buy rating and lifted the price target on its shares to $3.50.
The Resolute Mining Limited (ASX: RSG) share price has stormed 8% higher to $1.17 after the gold price raced higher overnight. The catalyst for the precious metal’s solid gain was the U.S. Federal Reserve conceding that a rate cut may be necessary in the near term. Resolute isn’t the only gold miner on the rise today. The S&P/ASX All Ords Gold index is up an incredible 4.7% at the time of writing.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has risen almost 3% to a 52-week high of $8.15 following the release of traffic figures for the month of May which revealed an increase in both domestic and international passengers. According to the release, the total number of passengers that travelled through Sydney Airport last month grew by 2.4% compared to the prior corresponding period to just over 3.5 million.
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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 and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended People Infrastructure 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.