In afternoon trade the S&P/ASX 200 index is on course to end the week on a positive note. At the time of writing the benchmark index is up 0.15% to 7,114.1 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:
The AMP Limited (ASX: AMP) share price is up 3.5% to $1.88. The catalyst for this solid gain appears to be a positive broker note out of Credit Suisse this morning. According to the note, the broker has retained its outperform rating and $2.00 price target on its shares following its FY 2019 result.
The Magellan Financial Group Ltd (ASX: MFG) share price is up 2.5% to $73.38. Investors have been buying the fund manager’s shares following the release of its half year results on Thursday. Magellan reported a 29% increase in average funds under management to $92.8 billion and a 23% jump in adjusted net profit after tax to $216.8 million.
The National Australia Bank Ltd (ASX: NAB) share price has climbed 2.5% to $27.13. The banking giant’s shares have been strong performers this week following the release of its first quarter update. NAB delivered a 1% increase in cash earnings during the quarter thanks to improvements in its net interest margin. A number of brokers responded positively to its first quarter update. One of those was Citi. It has retained its buy rating and $30.50 price target on the bank’s shares.
The SDI Limited (ASX: SDI) share price has jumped 8% to 94 cents. This morning the dental products company released its half year results and revealed a record profit. Thanks to a combination of solid sales growth and margin improvement, SDI reported an 11.9% increase in profit to $3.5 million. Its Aesthetics and Whitening products were the key drivers of its growth.
These 3 stocks could be the next big movers in 2020
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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 National Australia Bank Limited. The Motley Fool Australia has recommended SDI 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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