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.
