The S&P/ASX 200 Index (ASX: XJO) is having an off day and is trading notably lower in late morning trade. At the time of writing the benchmark index is down 0.8% to 5,380.4 points.
Four shares that are not letting that hold them back are listed below. Here's why they are charging higher:
The Breville Group Ltd (ASX: BRG) share price has jumped 10% to $20.52. This morning Breville completed the institutional component of its equity raising. The appliance maker raised $94 million at $17.00 per new share. This represents a discount of 9.1% to its last close price. The company also released a positive trading update which revealed strong sales growth in the second half. Between January 1 and April 30, Breville's revenue was up 32% on the prior corresponding period. Sales grew 25% in March and 21% in April.
The Graincorp Ltd (ASX: GNC) share price is up 6% to $3.49 following the release of its half year results. For the six months ended March 31, the grain exporter delivered an underlying net profit after tax of $55 million. This was an increase from a $48 million net loss after tax in the prior corresponding period.
The Mesoblast limited (ASX: MSB) share price has jumped 10% to $3.73. Investors have been buying the regenerative medicine company's shares in recent weeks due to promising trials of its allogeneic cell therapy, remestemcel-L. The company is testing its efficacy in treating acute respiratory distress syndrome (ARDS), the most devastating symptom of COVID-19. Phase 2/3 trials are ongoing, with the dosing of some patients commencing last week.
The Newcrest Mining Limited (ASX: NCM) share price is up 4.5% to $29.30. A number of gold miners are pushing higher on Thursday after a solid rise in the gold price overnight. The precious metal rose amid speculation that the Federal Reserve will soon embark on further stimulus. In late morning trade the S&P/ASX All Ordinaries Gold index is up by almost 3%.
