The S&P/ASX 200 index has followed the lead of U.S. markets and is on course to finish the week with a small gain. At the time of writing the benchmark index is up 0.1% to 6,663.4 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 iSignthis Ltd (ASX: ISX) share price has rebounded from yesterday’s sell off and is up 15% to $1.07. This morning the payments company responded to a highly critical report by shareholder advisory firm Ownership Matters, advising that the report “appears to rely upon a number of inferences and draws unverified conclusions that, in the Company’s opinion, are inconsistent with public disclosures made by the Company on the ASX platform.”
The Nearmap Ltd (ASX: NEA) share price is up 2.5% to $2.56 despite there being no news out of the aerial imagery technology and location data company. However, with its shares falling heavily in recent weeks, some investors appear to believe they are trading at an attractive level. I would have to agree with this view.
The NIB Holdings Limited (ASX: NHF) share price has climbed 3.5% to $7.42 after the private health insurer released a corrected version of its full year results presentation. According to the release, the previous presentation had overstated its claims inflation guidance for FY 2020. While no changes have been made to its profit guidance, I suspect that investors may believe its profit guidance is now more achievable given the lower expected rates.
The Rural Funds Group (ASX: RFF) share price has risen 3.5% to $2.11 after the agriculture-focused real estate property trust advised that Rural Funds Management has issued legal proceedings against short seller Bonitas Research and its principal, Matthew Wiechert. “Court documents filed today in the Supreme Court of New South Wales, contend that the making of the allegations by Bonitas and Matthew Wiechert against RFM and RFF contravened sections 1041D, 1041E, 1041F and 1041H of the Corporations Act 2001 (Cth) and section 12DA of the Australian Securities and Investments Commission Act 2001 (Cth).”
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Returns as of 6th October 2020
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 Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia has recommended Nearmap Ltd. and NIB Holdings Limited. 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.
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