The S&P/ASX 200 index has followed the lead of U.S. markets and is pushing higher in afternoon trade. At the time of writing the index is up 0.25% to 6,665.5 points.
Four shares climbing more than most today are listed below. Here's why they have raced higher:
The Afterpay Touch Group Ltd (ASX: APT) share price is up almost 7% to $26.07 after the payments company announced changes to its leadership and board. Arguably the biggest change will see co-founder Anthony Eisen become the company's new CEO. Current CEO Nick Molnar will step down to become Global Chief Revenue Officer. Fellow executive David Hancock will leave the company after the role of Group Head was removed.
The Praemium Ltd (ASX: PPS) share price is up over 5% to 41 cents. The fintech company's shares have risen strongly since an announcement last week which revealed that its non-custodial VMA Administration service (VMAAS) has grown its funds under administration to $6 billion in just 18 months. The service was launched to supplement Praemium's market-leading non-custodial Virtual Managed Account solution, which currently manages over $100 billion in assets.
The Wattle Health Australia Ltd (ASX: WHA) share price has returned from a lengthy trading halt and climbed 5% higher to 53 cents. This morning the baby food and infant formula company announced that it has signed a revised debt facility term sheet for net cash funding (before expenses) of up to US$85 million with US-based Gramercy. The funds will be used to acquire independent, nutritional dairy processing and packaging business, Blend and Pack.
The WPP Aunz Ltd (ASX: WPP) share price has stormed 8.5% higher to 51.5 cents after responding to media speculation in relation to the sale of its Kantar business. According to the release, WPP has entered into exclusive discussions with Bain Capital for the sale of a majority shareholding in Kantar, with a headline enterprise value of ~$4 billion.
