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Why Brickworks, Lovisa, Nearmap, & Ramsay shares are storming higher

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record its third straight gain. At the time of writing the benchmark index is up 1.7% to 5,081.9 points.

Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:

The Brickworks Limited (ASX: BKW) share price is up almost 4% to $15.82 after releasing its half year results. The building products company posted total revenue of $449 million and an underlying net profit after tax of $100 million for the half. While the latter was a 37% decline on the prior corresponding period, it didn’t stop the company from increasing its interim dividend. It declared a fully franked 20 cents per share dividend, up 5% on the prior corresponding period.

The Lovisa Holdings Ltd (ASX: LOV) share price has zoomed 18% higher to $4.54 after announcing the closure of almost all its stores globally. Effective from today, Lovisa’s stores in Australia, New Zealand and South Africa are now temporarily closed. They join its France, Spain, Malaysia, US and UK stores which have all been closed over the course of the past week. The only market it continues to operate in is Singapore.

The Nearmap Ltd (ASX: NEA) share price has jumped almost 9% higher to 93.5 cents. Investors have been buying the aerial imagery technology and location data company’s shares following the release of an update. Nearmap advised that it continues to provide its services as normal, though its employees are working remotely. The company didn’t touch on its guidance, which appears to indicate that it is on track to achieve it.

The Ramsay Health Care Limited (ASX: RHC) share price has jumped 10% to $55.65 after responding to the elective surgery ban. This morning the private hospital operator confirmed that it is in discussions with Federal and State Governments in Australia regarding the capacity and support it is able to provide as part of the Government’s COVID-19 response.

5 stocks under $5

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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 and has recommended Nearmap Ltd. The Motley Fool Australia has recommended Brickworks and Ramsay Health Care 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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