The S&P/ASX 200 index has shaken off the US-Iran conflict and is on course to record a very strong gain. In afternoon trade the benchmark index is up 0.9% to 6,878.7 points.
Four shares that are climbing more than most today are listed below. Here’s why they are zooming higher:
The Afterpay Ltd (ASX: APT) share price is up 2.5% to $30.84. Investors have been buying tech shares again after rotating back to risk assets following the easing of tensions between the US and Iran. Also supporting Afterpay’s shares has been the release of a positive broker note out of Citi this morning. It believes that the buy now pay later provider had a strong finish to calendar year 2019.
The Catapult Group International Ltd (ASX: CAT) share price has jumped 9.5% higher to $1.85. Investors have been buying the sports analytics company’s shares after it announced a league-wide deal with DIMAYOR for Colombia’s top two football divisions. All teams will use both wearable technology and video analysis products. The landmark three-year deal includes a combined total of 720 Vector X7 and G7 wearable devices.
The Galaxy Resources Limited (ASX: GXY) share price has zoomed 7% higher to $1.13. This follows the release of a production update for the December quarter this morning. According to the release, Galaxy achieved lithium concentrate production volume of 43,222 dry metric tonnes at its Mt Cattlin operation during the quarter. This is at the upper end of its guidance range of 35,000 to 45,000 dry metric tonnes.
The Pro Medicus Limited (ASX: PME) share price has stormed 7.5% higher to $24.00. This is despite there being no news out of the imaging software company. However, prior to today its shares were down 42% from their 52-week high. Some investors may believe they were oversold and are buying shares today.
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James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd and Pro Medicus Ltd. 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.