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Why Catapult, Medical Developments, Panoramic, & Western Areas are pushing higher

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 0.6% to 6,710.7 points.

Four shares that are climbing higher than most today are listed below. Here’s why they are pushing higher:

The Catapult Group International Ltd (ASX: CAT) share price has stormed over 12% higher to $1.99. On Thursday the sports analytics and wearables company announced the appointment of Hayden Stockdale as its new chief financial officer. Mr Stockdale has previously held the same role with SXiQ Digital, United Petroleum, and Interactive. He was also the CEO of ASX-listed mineral sands company Astron Ltd (ASX: ATR). This follows the recent appointment of former Amazon executive Will Lopes as its CEO.

The Medical Developments International Ltd (ASX: MVP) share price has continued its strong run and is up a further 7% to $6.72. The healthcare company’s shares have been on fire this week thanks to a positive development in China. On Thursday it advised that the Chinese National Medical Product Administration has approved the opening of the company’s Investigative New Drug (IND) application for Penthrox.

The Panoramic Resources Ltd (ASX: PAN) share price has jumped 8% to 39.5 cents. This morning Independence Group NL (ASX: IGO) revealed that the Panoramic board has granted its due diligence. The nickel miner made an all-scrip offer to acquire Panoramic Resources earlier this month for the equivalent of 47.6 cents per share.

The Western Areas Ltd (ASX: WSA) share price is up 3% to $2.92. After the market close on Thursday this nickel producer released its annual general meeting presentation. Management believes Western Areas is well-placed to benefit from the increasing demand for nickel. It also notes that nickel deficits are now a reality, which bodes well for prices.

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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 Catapult Group International Ltd and Medical Developments International Limited. The Motley Fool Australia has recommended Catapult Group International Ltd and Medical Developments International 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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