The Motley Fool

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.

Missed these gains? Then don't miss out on these top growth shares which could be next in line to charge higher.

Our Top 3 Blue Chip Shares for 2019 – NOW AVAILABLE!

You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.

So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!

Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!


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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.