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Why Afterpay, APA, Evolution, & Sonic shares are storming higher

The S&P/ASX 200 Index (ASX: XJO) is on form again on Wednesday and on course to record a decent gain. At the time of writing the benchmark index is up almost 0.4% to 5,976.7 points.

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

The Afterpay Ltd (ASX: APT) share price is up 3% to $60.93. Investors have been buying the payments company’s shares after it released an update on its UK business. According to the update, the Clearpay business has reached 1 million active customers after one year of operation in the country. Pleasingly, management notes that UK customers are using its service more frequently than its US customers were after one year in that market.

The APA Group (ASX: APA) share price has risen over 2.5% to $11.59. Investors have been buying the energy company’s shares after it revealed its distribution plans. APA announced an estimated final distribution of 27 cents per security for the second half. This brings its full year distribution to 50 cents per security, up 6.4% on FY 2019’s payout.

The Evolution Mining Ltd (ASX: EVN) share price has jumped 4% to $5.48. Investors have been buying the gold miner’s shares today after the gold price hit its highest level since late in 2012. Evolution is just one of a number of gold miners charging higher. So much so, the S&P/ASX All Ordinaries Gold index is up 2.5% at the time of writing.

The Sonic Healthcare Limited (ASX: SHL) share price has climbed almost 4% to $30.03. Investors have been buying the healthcare company’s shares after it released a trading update. That update revealed that its performance rebounded strongly in May and June following weakness in March and April. As a result, management revealed that it is in a position to provide guidance again. It now expects its EBITDA to be broadly flat in FY 2020.

These 3 stocks could be the next big movers in 2020

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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 AFTERPAY T FPO and APA Group. The Motley Fool Australia has recommended Sonic Healthcare 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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