In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to bounce back from yesterday's decline. At the time of writing the benchmark index is up 0.5% to 6,033.3 points.
Four shares that are climbing more than most today are listed below. Here's why they are pushing higher:
The BHP Group Ltd (ASX: BHP) share price is up 3.5% to $39.31. Investors have been buying the mining giant's shares after a positive night of trade for some key commodity prices. Copper, oil, and iron ore prices all recorded gains overnight. According to CommSec, the spot iron ore price was up 45 U.S. cents or 0.4% to US$118.45 a tonne.
The Corporate Travel Management Ltd (ASX: CTD) share price has stormed 4.5% higher to $8.95. This could be in response to a broker note out of Morgans on Wednesday. Its analysts upgraded the travel company's shares to an add rating with a $12.85 price target. This was largely on valuation grounds, but also on the belief that corporate travel markets might be stronger than expected. Morgans' price target implies potential upside of over 43%.
The Harvey Norman Holdings Limited (ASX: HVN) share price is up over 5% to $3.94. This appears to have been driven by the release of a strong full year result by one of its furniture rivals (see below). This appears to indicate that demand for household goods is strong despite the pandemic.
The Nick Scali Limited (ASX: NCK) share price has rocketed 18% higher to $9.06. This follows the release of a very positive full year result from the furniture retailer. Although it posted a 2.1% decline in sales, Nick Scali managed to hold its profits steady at $42.1 million. Looking ahead, management is expecting a very strong first half. It is forecasting its first half profit "to be up by at least 50-60%" compared to the same period last year.
