Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher

Afterpay Ltd (ASX:APT) and Hansen Technologies Limited (ASX:HSN) are two of four ASX shares charging higher on Wednesday…

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A fit man flexes his muscles, indicating a positive share price movement on the ASX market

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is pushing higher once again. At the time of writing, the benchmark index is up 0.25% to 6,787.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Afterpay Ltd (ASX: APT)

The Afterpay share price is up almost 9% to $116.50. Investors have been buying Afterpay and other tech shares this morning following a strong rebound on the tech-focused Nasdaq index overnight. In addition to this, this morning Afterpay revealed that it has now completed its acquisition of Pagantis. This means that its European expansion can now begin.

Gold Road Resources Ltd (ASX: GOR)

The Gold Road share price has jumped over 8% to $1.15 following the release of its full year results. The gold miner reported a net profit after tax of $80.8 million for FY 2020. This compares to a loss of $4.7 million a year earlier. This strong form allowed the company to declare its maiden dividend of 1.5 cents per share.

Hansen Technologies Limited (ASX: HSN)

The Hansen share price is shooting 14% higher to $4.78. This follows the release of a trading update after the market close on Tuesday. That update revealed that the billing technology company has been performing better than expected. So much so, management has upgraded its guidance for FY 2021. It now expects revenue of $316 million to $326 million in constant currency, with an underlying EBITDA margin of 37% to 39%. A large new contract win has led to the outperformance.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price has surged 10% higher to $1.65. The catalyst for this was a solid rise in the gold price overnight after bond yields started to soften. It isn’t just Silver Lake that is rising today. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a sizeable 4.4%.

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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 AFTERPAY T FPO and Hansen Technologies. The Motley Fool Australia has recommended Hansen Technologies. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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