In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. The benchmark index is currently up 1.1% to 6,639.2 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Brickworks Limited (ASX: BKW)
The Brickworks share price is up 2.5% to $19.23 following the release of a trading update ahead of its annual general meeting. While its North American business continues to struggle because of the pandemic, the rest of the business has started FY 2021 strongly. Management revealed that the Building Products Australia business delivered first quarter earnings well ahead of the prior corresponding period.
Mesoblast limited (ASX: MSB)
The Mesoblast share price has continued its incredible run and is up a further 10% to $4.72. This means the biotech company’s shares are now up a massive 39% over the last three trading days. This has been driven by a major announcement on Friday which revealed a potentially lucrative deal with global pharma giant Novartis. The deal could see Mesoblast earn upwards of US$1.25 billion from milestone payments.
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 3.5% to $5.55. Investors have been buying the airline operator’s shares after AstraZeneca announced that its COVID-19 vaccine had performed very strongly. One dosing regimen of its COVID-19 vaccine candidate, AZD1222, had an average efficacy of 90%. Another positive is that this low cost and not-for-profit vaccine option can be stored, transported, and handled at normal refrigerated conditions for at least six months. This makes it much easier logistically than those developed by Moderna and Pfizer. This has sparked hopes of a quicker than expected recovery in the travel market.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price has jumped 12% to $3.18. Investors have been buying the company’s shares this morning after it announced that the United States Food and Drug Administration (FDA) has approved its new drug application for a prostate cancer imaging product. Telix’s prostate cancer imaging product is a radiopharmaceutical targeting Prostate-Specific Membrane Antigen. It uses a Positron Emission Tomography to scan for the disease.
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Returns as of 6th October 2020
Motley Fool contributor James Mickleboro owns shares of TELIXPHARM DEF SET. The Motley Fool Australia owns shares of and has recommended Brickworks. 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.