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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. At the time of writing the benchmark index is up 3.3% to 5,908.2 points.
Four shares that are climbing more than most today are listed below. Here's why they are charging higher:
The Afterpay Ltd (ASX: APT) share price is up almost 9% to $55.88. This is despite there being no news out of the payments company today. At one stage the Afterpay share price hit a new record high of $55.93. And as I mentioned here earlier, one leading broker still believes its shares can go higher from here.
The Super Retail Group Ltd (ASX: SUL) share price has returned from its trading halt and jumped 8.5% higher to $8.48. This morning Super Retail raised $158 million through an institutional entitlement offer at an 8% discount of $7.19 per share. Management believes this equity raising will allow the company to continue to execute its strategy and pursue strategic growth initiatives. Super Retail also released a trading update which revealed that like for like sales rebounded strongly in May.
The Uniti Group Ltd (ASX: UWL) share price is back from its trading halt and up 7.5% to $1.66. This morning the growing telecommunications completed an institutional entitlement offer and raised approximately $152 million at $1.40 per share. These funds will be used to part-fund the acquisition of its larger rival Opticomm Ltd (ASX: OPC).
The Viva Energy Group Ltd (ASX: VEA) share price has jumped 15% higher to $1.75. This morning the fuel retailer released a trading update which included its guidance for the first half. Viva Energy expects its underlying net profit after tax (on a replacement cost basis) to be in the broad range of $20 million to $50 million. This appears to have been better than the market was expecting given the tough trading conditions it is facing.
