In afternoon trade the S&P/ASX 200 index is on course to record a solid gain. At the time of writing the benchmark index is up 1.7% to 6,498 points.
Four shares that are climbing more than most today are listed below. Here’s why they are racing higher:
The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price has charged 11% higher to $18.93. This follows the release of an update on its vitiligo ambitions. According to the update, the biopharmaceutical company has received confirmation that the US FDA has designated April 29 to discuss and agree the North American development program for SCENESSE for the pigment loss disorder vitiligo.
The Coles Group Ltd (ASX: COL) share price is up 3% to $15.09. This morning the supermarket operator was the subject of a positive broker note out of Credit Suisse. According to the note, the broker has upgraded its shares from a neutral rating to outperform with an improved price target of $17.80. Credit Suisse sees value in its shares at the current level and appears confident its renewal program will drive its earnings growth over the medium term.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has climbed almost 4% to $32.29. This morning the company announced that it is strengthening its technology roadmap through an investment in Dubai-based TPConnects Technologies. TPConnects Technologies is a company that enhances airline-travel agent connectivity through its next-generation travel technology platform.
The Next Science Ltd (ASX: NXS) share price has jumped 14% to $2.29. Investors have been buying the medical technology company’s shares after it released an update on its Bactisure surgical lavage. According to the announcement, the product has now received its CE mark approval. This means Next Science is allowed to market and sell Bactisure in the European Union. The product will be sold in the region by the global leader in musculoskeletal healthcare, Zimmer Biomet.
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Returns as of 6th October 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group 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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