In afternoon trade the S&P/ASX 200 index is on course to start the week with a gain. At the time of writing the benchmark index is up 0.3% to 6,730.7 points.
Four shares that are climbing more than most today are listed below. Here’s why they are racing higher:
The Afterpay Touch Group Ltd (ASX: APT) share price has jumped 8% higher to $32.98. Investors have been buying the payments company’s shares after it provided the results and recommendations of its AML/CTF final audit. The report notes historical non-compliance by Afterpay and makes six recommendations. However, the majority of these matters have now been addressed.
The Auscann Group Holdings Ltd (ASX: AC8) share price is up 4.5% to 23 cents. This morning the medical cannabis company announced that it has appointed TGA-licensed Aspen Pharmacare Australia to provide packaging for its medicinal cannabis pharmaceutical products. The agreement with Aspen is for an initial three-year period that can be extended. It will include GMP packaging services for AusCann’s proprietary solid hard shell capsules.
The Caltex Australia Limited (ASX: CTX) share price has stormed 7% higher to $29.75. This morning the fuel retailer released a trading update and announced plans to spin off some of its property assets. Caltex intends to undertake an IPO of up to a 49% interest in 250 core Convenience Retail freehold sites. Management believes the proposed IPO will realise significant value for Caltex shareholders.
The Sigma Healthcare Ltd (ASX: SIG) share price has jumped 7% to 71 cents. Investors have been buying the pharmacy chain operator and distributor’s shares after it announced a major first-line agreement with My Chemist/Chemist Warehouse Group (MC/CW Group). The agreement is for the supply of fast-moving consumer goods products and is effective from December 1. Management estimates that the agreement will generate $700 million to $800 million in sales during the first full year of operation.
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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 AFTERPAY T FPO. The Motley Fool Australia has no position in any of the stocks mentioned. 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.