In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another again. At the time of writing, the benchmark index is up 0.4% to 6,511.9 points.
Four shares that are climbing more than most today are listed below. Here's why they are charging higher:
Douugh Ltd (ASX: DOU)
The Douugh share price has jumped 5% to 37 cents. This follows the release of an announcement this morning which reveals that the neobank has officially launched its app in the US following a successful 18-month trial. The company's app uses artificial intelligence and machine learning to tailor individual financial solutions to a user's personal income and spending data. It aims to help users spend wisely, save more, and accumulate wealth over time.
Mirvac Group (ASX: MGR)
The Mirvac share price is up over 4% to $2.75. Investors have been buying the property company's shares after it was upgraded by analysts at Macquarie. The broker has upgraded Mirvac to an outperform rating with a $2.91 price target. It made the move on the belief that Mirvac will benefit from a recovery in the residential market.
Oil Search Limited (ASX: OSH)
The Oil Search share price has surged 6% higher to $3.95. The catalyst for this appears to have been another rise in oil prices overnight following Moderna's COVID-19 vaccine update. It isn't just Oil Search that is charging higher, a number of other energy shares are recording sizeable gains today. So much so, the S&P/ASX 200 Energy index is up almost 3.5% at the time of writing.
Westpac Banking Corp (ASX: WBC)
The Westpac share price is up 3% to $19.16. As well as getting a boost from the aforementioned COVID-19 vaccine news, Australia's oldest bank was given a lift from a positive broker note. According to a note out of Morgan Stanley, its analysts have upgraded Westpac's shares to an overweight rating with an improved price target of $20.40. It notes that the housing market is improving and is happy with its provisioning.
