The S&P/ASX 200 index has started the week on a mildly disappointing note. In late morning trade the benchmark index is down 0.3% to 7,107.5 points.
Four shares that have not let that hold them back are listed below. Here's why they are charging higher:
The Brambles Limited (ASX: BXB) share price has surged almost 6% higher to $13.39. This follows the release of its half year results this morning. The logistics company revealed sales revenue growth of 7%, which was at the upper end of its guidance range. This reflected increased price realisation and robust volume growth. Underlying profit increased 5% over the prior corresponding period.
The Caltex Australia Limited (ASX: CTX) share price is up 3.5% to $34.72. Investors have been buying the fuel retailer's shares after it revealed that takeover talks had advanced. Canada's Alimentation Couche-Tard appears to have won over the Caltex board with its improved offer of $35.25 cash per share. This morning the company revealed that it has decided to provide Alimentation Couche-Tard with the opportunity to conduct additional due diligence on a non-exclusive basis.
The National Storage REIT (ASX: NSR) share price has risen almost 6% to $2.39. The catalyst for this gain is also a takeover approach. After the market close on Friday, the self-storage giant revealed that U.S. based Public Storage has offered to acquire it for a cash price of $2.40 per stapled security by way of inter-conditional company and trust schemes. This is superior to an offer made recently by GAW Partners. This appears to have sparked hopes of a bidding war between the two suitors.
The Regis Resources Limited (ASX: RRL) share price has stormed 5% higher to $4.50. This morning the gold miner released its interim results and reported a record half year profit. Regis reported a 17% increase in half year net profit after tax to $93.4 million. This was largely due to a jump in the gold price which offset lower sales volumes and higher all-in sustaining costs.
