8 All Ords shares that soared 10% or more today

There's a real mixed bag in this list — and not a lithium share in sight.

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The Australian share market was on fire today after the United States reported a softer-than-expected inflation number for October.

The implication, of course, is that interest rate rises might finally be working in the world's largest economy, and perhaps the Fed will ease up on further hikes from here.

That's cause for celebration in what has been an incredibly turbulent year for ASX All Ords shares.

Today, the S&P/ASX All Ordinaries Index (ASX: XAO) closed the session up 2.86% and the S&P/ASX 200 Index (ASX: XJO) flew 2.79% to a five-month high of 7,158 points.

But in this valley of green, eight All Ords shares really took off, sprouting more than 10%. The interesting part is there's a real mixed bag in this list — and no lithium shares in sight, which is rare these days.

8 All Ords shares that really flew on Friday

Megaport Ltd (ASX: MP1)

There was no price-sensitive news from Megaport today, so it's likely that NASDAQ momentum carried the ASX tech share 13.57% higher to $6.11. The NASDAQ Composite Index (NASDAQ: .IXIC) leapt 7.3% overnight after the US inflation number was released. It's worth noting that last night Megaport announced that major shareholder, Mitsubishi UFJ Financial Group has raised its stake by 1% to 12%.

Pinnacle Investment Management Group Ltd (ASX: PNI)

There was no news out of Pinnacle today but my colleague Tristan revealed this morning that he rates Pinnacle among the top 3 ASX 200 shares to buy for 2023. Fool Cathryn points out that had Tristan invested $5,000 in Pinnacle shares 10 years ago, he'd be a millionaire today. The Pinnacle share price rose by 12.5% to finish at $9.

Block Inc CDI (ASX: SQ2)

With no price-sensitive news from Block today, it's clear that slowing inflation in the US — and potentially fewer or at least lower interest rate rises by the Fed from here bodes well for the buy now, pay later sector, which relies on consumers and businesses continuing to buy goods and services via their platforms. The Block share price finished up 11.53% to $100.91.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price closed Friday's session at $13.87, up 11.67%. There was no company news today but as we reported last month, Nick Sladen of LSN Capital Partners reckons it's a winner. Sladen said: "We consider the best return opportunities are in those companies that operate in structurally growing industries who can deliver earnings growth despite the difficult economic backdrop." He said Netwealth "is benefitting from market share gains, providing annuity-style revenue, high margins, and strong cash flow. The industry tailwinds support a clear trajectory for growth over the long term." 

St Barbara Ltd (ASX: SBM)

St Barbara shares rose by 10.71% today to 62 cents. That's a relief for shareholders after the gold miner turned in the worst performance of any ASX 200 share in the month of October with a 31.1% decline. As we reported, investors weren't happy with the company's first-quarter update, which saw St Barbara downgrading its full-year production guidance and increasing its all-in sustaining cost guidance.

Pro Medicus Limited (ASX: PME)

A bit over a week ago, my Fool colleague Tony reported that medical imaging company Pro Medicus was ready to rocket again according to Medallion Financial Group advisor Stuart Bromley. We may have had a lift-off today with the Pro Medicus share price soaring 11.45% to finish at $58.50 per share. Bromley reckons Pro Medicus is good for long-term growth and a defensive holding in the short term.

Credit Corp Group Limited (ASX: CCP)

A couple of months ago, my Fool colleague Tony reported that Shaw and Partners portfolio manager James Gerrish considered Credit Corp a risk-reward play attractively priced at about $18. Credit Corp shares screamed past that point today, up 11.2% to $20.35 apiece. Gerrish said: "On 13.7x FY23 earnings Credit Corp is still around fair value in Market Matter's view but… we can easily see ~30% upside…".

WiseTech Global Ltd (ASX: WTC)

The share price of this logistics software provider soared 10.38% to $57.86 today. There's been no news out of WiseTech this month except further notices regarding the founder and CEO's stock sell-down. Richard White offloaded $6.46 million worth of shares on-market between 28 October and 3 November. But this isn't new. White has been selling shares on-market since mid-2020.

Motley Fool contributor Bronwyn Allen has positions in Pro Medicus Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., MEGAPORT FPO, Netwealth, PINNACLE FPO, Pro Medicus Ltd., and WiseTech Global. The Motley Fool Australia has positions in and has recommended Block, Inc., Netwealth, PINNACLE FPO, Pro Medicus Ltd., and WiseTech Global. The Motley Fool Australia has recommended MEGAPORT FPO. 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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