In afternoon trade the S&P/ASX 200 index is on course to record a solid gain. At the time of writing the benchmark index is up 0.65% to 6,725.8 points.
Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:
The Appen Ltd (ASX: APX) share price is up 3% to $22.20. A number of tech shares have charged higher on Thursday, leading to the S&P/ASX 200 Info Tech index climbing 1.1%. Appen may be climbing more than most due to its heavy decline in recent weeks. Some investors appear to believe this left its shares trading at an attractive level.
The Brickworks Limited (ASX: BKW) share price is up over 6% to $17.51. Investors have responded very positively to the conglomerate’s full year results release this morning. For the 12 months ended July 31, Brickworks posted a 17% increase in total revenue from continuing operations to $919 million and a a 4% lift in underlying net profit after tax from continuing operations to a record of $234 million. The key driver of its growth was its Property division.
The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has climbed 3% to $23.01 following the release of its full year results. Although the investment house posted a 7.2% decline in adjusted profit from continuing operations to $307.3 million, investors appear to have been expecting an even softer result. Pleasingly, despite the profit decline, it hasn’t stopped the company from increasing its full year dividend to 57 cents per share. This means it has now lifted its dividend each year since 2000.
The Wattle Health Australia Ltd (ASX: WHA) share price has jumped 9% to 43 cents. The junior infant formula company’s shares have been on fire this week thanks to news that Bellamy’s Australia Ltd (ASX: BAL) has received a takeover approach. It appears as though some investors may believe Wattle Health could become a takeover target for other Chinese dairy companies given its sharp share price decline this year. Wattle Health is the company behind the Uganic infant formula range.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Brickworks. 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.