The S&P/ASX 200 Index (ASX: XJO) is back in form at last on Wednesday and is charging notably higher. The benchmark index is currently up 1.8% to 5,888.6 points.
Four shares that have climbed more than most today are listed below. Here’s why they are racing higher:
The Afterpay Ltd (ASX: APT) share price has stormed 4% higher to $79.71. Investors have been flooding into the tech sector on Wednesday after their U.S. counterparts stormed higher on Wall Street overnight. This has led to the S&P/ASX All Technology Index (ASX: XTX) charging a sizeable 2.8% higher at the time of writing.
The Nufarm Limited (ASX: NUF) share price has jumped 8% to $4.50 following the release of its full year results. Although the agricultural chemicals company reported a statutory net loss after tax of $456 million, its outlook has got investors excited. Nufarm advised that it is emerging from a period of sustained headwinds and positive momentum has continued with good revenue growth from continuing businesses in August.
The PolyNovo Ltd (ASX: PNV) share price is up 2.5% to $2.25. Investors have been buying the medical device company’s shares after it provided an update on its European operations. PolyNovo advised that it has appointed Helsinki based Innova Medical Oy to sell its NovoSorb Biodegradable Temporising Matrix (BTM) product in Finland. NovoSorb BTM is a dermal scaffold for the regeneration of the dermis when lost through extensive surgery or burn. Management expects more European market entries in the near future.
The Sezzle Inc (ASX: SZL) share price has risen 5% to $6.81. This follows the announcement of a partnership with Ally Lending that will give Sezzle merchants and shoppers access to long term financing options. Management believes this complements its existing short-term, interest-free offering, without adding any balance sheet impact to Sezzle. Ally Lending provides monthly fixed-rate instalment-loan products that extend up to 60 months in length and US$40,000 per instalment plan.
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.