Why Flight Centre, OneVue, Paradigm, & PointsBet shares are charging higher

Flight Centre Travel Group Ltd (ASX:FLT) and PointsBet Holdings Ltd (ASX:PBH) shares are two of four charging higher on Monday…

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The S&P/ASX 200 Index (ASX: XJO) has failed to follow the lead of U.S. markets and is dropping lower on Monday. At the time of writing the benchmark index is down 0.15% to 5,955.9 points.

Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:

The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 7% to $14.15. A number of travel shares have been charging higher on Monday. This appears to have been driven by news that Victoria is relaxing restrictions after a major improvement in COVID-19 infections. Investors may believe the domestic travel market will now recover sooner than expected.

The OneVue Holdings Ltd (ASX: OVH) share price has surged 7% higher to 42 cents. This follows an announcement by Iress Ltd (ASX: IRE) which reveals that it is increasing its takeover offer from 40 cents per share to 43 cents per share. The financial technology company made the move after receiving feedback from OneVue shareholders. This will be Iress’ final offer.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has charged 8% higher to $2.47. This morning the biopharmaceutical company revealed that it has received positive feedback from the European Medicines Agency after its recent scientific advice meeting. Based on this feedback, applications to commence clinical trials in EU member countries can now begin for its Zilosul product. This product is targeting the knee osteoarthritis market.

The PointsBet Holdings Ltd (ASX: PBH) share price has stormed 6% higher to $11.04. This follows the release of an update on the sports betting company’s U.S. operations this morning. PointsBet advised that it has launched retail sports betting operations in the State of Illinois and signed deals with two NFL teams – the Chicago Bears and the Indianapolis Colts.

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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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Pointsbet Holdings Ltd. 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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