The S&P/ASX 200 Index (ASX: XJO) started the week in fine form and charged higher on Monday. The benchmark index rose 0.4% to end at 5,951.3 points.
Four shares that climbed more than most today are listed below. Here’s why they stormed higher:
Abacus Property Group (ASX: ABP)
The Abacus Property share price rose 3% to $2.85. This follows the release of an announcement by the property company this morning. That announcement reveals that Abacus has signed an unconditional agreement to acquire the remaining 75% interest in self-storage company, Storage King.
Amaysim Australia Ltd (ASX: AYS)
The Amaysim share price jumped 11% to 74.5 cents after announcing the sale of its mobile business to Optus. According to the release, the two parties have signed an agreement for a cash consideration of $250 million. This follows the recent sale of its Click Energy business for $115 million. The company intends to return the funds to shareholders. At this time, it estimates that approximately $207.2 million to $225.7 million will be available for distribution to shareholders via a $0.67 to $0.73 per share dividend.
CSR Limited (ASX: CSR)
The CSR share price stormed 5.5% higher to $4.66 following the release of its half year results. The building products company reported a 6% decline in revenue to $1.07 billion. Management advised that this reflected a slowdown in residential construction and lower aluminium prices over the first six months. It appears as though the market was expecting much worse from CSR.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price rocketed 30% higher to $2.16. Investors were buying the pharmaceuticals company’s shares after it announced a strategic commercial partnership with China Grand Pharmaceutical and Healthcare Holdings. The agreement is for its portfolio of Molecularly-Targeted Radiation products. It includes US$25 million up-front non-refundable prepayment to Telix and up to US$225 million in regulatory and commercial milestone payments.
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Motley Fool contributor James Mickleboro owns shares of TELIXPHARM DEF SET. The Motley Fool Australia has no position in any of the stocks mentioned. 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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