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3 ASX All Ordinaries shares that soared more than 10% today

Here’s what drove these shares to rocket higher on Thursday.
The post 3 ASX All Ordinaries shares that soared more than 10% today appeared first on The Motley Fool Australia. –

The All Ordinaries Index (ASX: XAO) recovered from a disastrous 4-session, 4.3% tumble today, recording its first gain of the week with the help of these shares.

They each gained more than 10% today. Impressively, some have managed to chalk up the upwards move without uttering a single word of news.

The All Ordinaries Index gained 1.15% today.

Let’s take a look at what boosted these 3 stocks more than 10% higher.

3 ASX All Ordinaries shares recording massive gains

Stanmore Resources Ltd (ASX: SMR)

The Stanmore Resources share price recorded an 11.88% gain to close at $2.26 on Thursday. In fact, at its highest point, the coal miner’s shares were trading 16.3% higher than their previous close.

Interestingly, there’s been no news from the energy stock today. On top of that, the S&P/ASX 200 Energy Index (ASX: XEJ) recorded a modest rise of just 0.92%.

Though, its best performer was the Whitehaven Coal Ltd (ASX: WHC) share price.

Other coal producing shares, Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC) also recorded notable gains of between 4% and 6%.

The sector’s buoyancy on Thursday might have been due to reporting by Reuters. According to the publication, India has urged its states to increase coal imports in a bid to boost inventories.

The move would likely see already inflated coal prices increase further. That would likely be good news to coal producers’ bottom lines.

City Chic Collective Ltd (ASX: CCX)

Another ASX All Ordinaries share to silently record a gain of more than 10% on Thursday is City Chic.

The clothing retailer’s stock surged 10.22% to close at $3.02. The stock also soared 5.38% on Wednesday on the release of a positive trading update.

Over the 17 weeks between 27 December and 24 April, the company’s total sales increased 25% year-on-year.

AMP Ltd (ASX: AMP)

Finally, All Ordinaries giant, AMP, saw its share price rocket 12.68% on Thursday to $1.16 on the back of more divestment news.

The embattled financial services company announced that it’s found a buyer for the final leg of its Collimate Capital business.

DigitalBridge has agreed to pay up to $699 million for the international infrastructure equity business, $462 million of which will come in the form of an upfront cash payment to AMP.

The news came just a day after AMP announced that it was selling Collimate’s real estate and domestic infrastructure business to Dexus Property Group (ASX: DXS).

AMP is planning to use the funds from the sales to pay off its debt and conduct a capital return.

The post 3 ASX All Ordinaries shares that soared more than 10% today appeared first on The Motley Fool Australia.

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More reading

Here are the top 10 ASX shares today

Here are the 3 most heavily traded ASX 200 shares on Thursday

Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher

AMP share price surges 11% as $699m Collimate deal confirmed

ASX 200 midday update: Coles, Fortescue, and Pilbara Minerals release quarterly updates

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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