In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing the benchmark index is up 0.5% to 5,890.5 points.
Four shares that have climbed more than most today are listed below. Here’s why they are pushing higher:
The Althea Group Holdings Ltd (ASX: AGH) share price has jumped 11% to 64.5 cents. Investors have been buying the cannabis company’s shares after it announced that its Canada-based Peak Processing Solutions business has obtained its Standard Processing Licence from Health Canada. Management notes that this is a major milestone and means that commercial operations can immediately commence in Canada.
The BrainChip Holdings Ltd (ASX: BRN) share price is up 2% to 66 cents. This morning BrainChip announced that it has validated the Akida Neuromorphic System-on-Chip (NSoC) design with functional silicon. The Akida NSoC is a complex integrated circuit that includes multiple interfaces, Data-to-Event Converters, a CPU complex, on-chip memory, and a neuron fabric to implement a complete neural network with no external components required.
The Rio Tinto Limited (ASX: RIO) share price is up a solid 3% to $103.05. As well as getting a boost from a rise in the iron ore price, this morning Macquarie reiterated its outperform rating and $114.00 price target on the mining giant’s shares. It notes that Rio Tinto is continuing to benefit from strong iron ore prices.
The Starpharma Holdings Limited (ASX: SPL) share price has stormed 7% higher to $1.71. This follows the release of an update on its antiviral nasal spray. According to the release, its SPL7013 spray is virucidal, inactivating more than 99.9% of SARS-CoV-2. This is the virus that causes COVID-19. In light of this, the company is now rapidly advancing development, regulatory, manufacturing, and commercialisation activities.