The S&P/ASX 200 index is on course to record a solid gain on Thursday. In afternoon trade the benchmark index is up 0.65% to 6,703.3 points.
Four shares that are climbing more than most today are listed below. Here’s why they are zooming higher:
The James Hardie Industries plc (ASX: JHX) share price has charged 6% higher to $26.23. Investors have been buying the building products company’s shares following the release of a solid half year result. During the six months, James Hardie posted adjusted net operating profit of US$188.8 million. This was a 17% increase on the same period last year.
The National Australia Bank Ltd (ASX: NAB) share price is up 2% to $28.34 following the release of its full year results. In FY 2019 NAB posted a 10.6% decline in cash earnings to $5.1 billion. This led to the bank cutting its final dividend down by 16% to 83 cents a share. The good news, though, was that the bank didn’t announce a capital raising and its final dividend will be fully franked.
The Xero Limited (ASX: XRO) share price is racing higher and is up over 6.5% to $71.99. The catalyst for this was the cloud-based business and accounting software provider’s half year result. For the six months ended September 30, Xero reported an impressive 32% increase in operating revenue to NZ$338.7 million. It also announced that it has now surpassed 2 million subscribers globally. This helped drive its total subscriber lifetime value 37% higher to NZ$5.4 billion.
The Zip Co Ltd (ASX: Z1P) share price has rocketed 17% higher to $4.02 after announcing a strategic agreement with Amazon Commercial Services. The agreement will see Zip offered as a payment option for customers using Amazon.com.au. This makes it Amazon’s first Australian instalment payment option. However, it does come at a slight cost. Zip will issue an affiliate of Amazon warrants to acquire up to 14,615,000 ordinary shares.
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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of National Australia Bank Limited and Xero. 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.