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Afterpay share price up 7%, ASX 200 edges higher

The S&P/ASX 200 Index (ASX: XJO) managed to slightly rise by 0.06% today to 6,418 points.

Australia continues to do well with the coronavirus, though it’s not eliminated from every state yet.

Afterpay Ltd (ASX: APT) share price continues to soar, helping the ASX 200 rise

The buy now, pay later sector continues to perform strongly.

The ASX 200 instalment payment company saw its share price rise another 7.5% to $54.50. The market is becoming even more confident on the company’s future despite the ongoing wider coronavirus issues.

Afterpay wasn’t the only one to rise in the sector. The Zip Co Ltd (ASX: Z1P) share price went up 3.4% and the Sezzle Inc (ASX: SZL) share price went up 7.5%.

Christmas in June for shareholders of Harvey Norman Holdings Limited (ASX: HVN) investors

The Harvey Norman share price rose by 7.3% today after the company made two announcements.

Firstly, the ASX 200 retailer revealed a retail trading update. Australian franchisee total sales are up 17.5% in the FY20 second half to 31 May 2020.

Looking at the company-operated stores overseas sales in this half-year to date in Australian dollar terms, Northern Ireland and Singapore suffered sales declines of 38.2% and 21.7% respectively. New Zealand sales were down 7.3% and Slovenia and Croatia sales were down by 5.5%. Malaysia sales were up 1.3% and Ireland sales were up 25.4%.

In the other announcement, Harvey Norman announced a special fully franked dividend of 6 cents per share to be paid on 29 June 2020.  

Kogan.com Ltd (ASX: KGN) capital raising

The soon-to-be ASX 200 ecommerce business has gone into a trading halt to do a capital raising.

Kogan is looking to raise $100 million from institutional investors and another $15 million from regular investors.

The money will be used to fund potential acquisitions that the company may make where Kogan can utilise its efficiencies and digital model. Two recent acquisitions have been Dick Smith and Matt Blatt.

The raising will be done at a share price of $11.45 per share.

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Sezzle Inc. 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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