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Why Appen, Cooper Energy, Fortescue, & Netwealth shares surged higher today

The S&P/ASX 200 index is on course to finish the week on a positive note. In afternoon trade the benchmark index is up 0.6% to 6,654.5 points. 

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:

The Appen Ltd (ASX: APX) share price is up 4% to $26.51. The catalyst for this has been a strong gain by the technology-focused Nasdaq index last night after the United States and China agreed to hold trade talks next month. Appen isn’t the only tech share on the rise today. The S&P/ASX 200 Info Tech index is up 2.5% this afternoon.

The Cooper Energy Ltd (ASX: COE) share price has surged 7% higher to 62.7 cents after revealing a new gas field discovery within the Waarre C formation reservoir. This is the first new Otway Basin gas field discovery from offshore drilling in 11 years. Cooper Energy’s managing director David Maxwell described the Annie gas discovery as a solid and promising result from the first well in its exploration program.

The Fortescue Metals Group Limited (ASX: FMG) share price is up 3% to $8.51 after successfully completing its US$600 million offering of senior unsecured notes. The proceeds from the bond offering will be used for the partial repayment of the outstanding US$1.4 billion 2022 syndicated term loan facility. Management also revealed that it is currently in negotiations with existing term loan lenders for the extension of term loan maturities of US$600 million on the same terms and conditions.

The Netwealth Group Ltd (ASX: NWL) share price has climbed 5% to $8.36. The catalyst for today’s gain has been the September 2019 Quarterly Rebalance of the S&P/ASX Indices. According to the announcement, the investment platform provider is one of six new additions to the benchmark S&P/ASX 200 index. Its shares will be added to the index on September 23.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Netwealth. The Motley Fool Australia owns shares of Appen 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.