After a strong start to the day, in afternoon trade the S&P/ASX 200 index has given back its morning gains. At the time of writing the benchmark index is trading flat at 6,567.2 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 AMP Limited (ASX: AMP) share price has stormed 7% higher to $1.85 after the embattled financial services company announced that it has successfully completed its institutional placement to raise $650 million. The company raised the funds at $1.60 per new share, which was a 7.5% discount to its last close price but a 6.3% premium to the placement's underwritten floor price.
The James Hardie Industries plc (ASX: JHX) share price has rocketed over 14% higher to $21.73. Investors have been buying the building materials company's shares on Friday after it announced a better than expected first quarter result. James Hardie posted a 13% jump in NOPAT to US$90.2 million and a 16% lift in adjusted earnings before interest and tax to US$124.4 million.
The Orocobre Limited (ASX: ORE) share price has jumped higher again and is up a further 9% to $2.97. Most of Australia's leading lithium miners are on the rise on Friday after investor sentiment in the industry improved greatly. The catalyst for this was a positive quarterly update and guidance upgrade by lithium giant Albemarle on Wednesday evening.
The REA Group Limited (ASX: REA) share price is up 4% to $95.34 following the release of the property listings company's full year results. In FY 2019 REA Group posted an 8% increase in revenue to $874.95 million and a 6% lift in net profit from core operations to $295.5 million. The company didn't provide any real guidance for FY 2020, but advised that it expected its key Australian business to benefit from price increases.
