Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher

Afterpay Ltd (ASX:APT) and ResApp Health Ltd (ASX:RAP) are two of four ASX shares charging notably higher on Friday. Here’s why…
The post Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher appeared first on The Motley Fool Australia. –

asx shares higher

In late morning trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is trading notably higher. At the time of writing, the benchmark index is up 0.8% to 6,765.3 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is up 4% to $115.34. Investors have been buying Afterpay and other tech shares on Friday after a strong night of trade on the Nasdaq index. Thanks to solid gains by the likes of Amazon, Facebook, and Tesla, the tech-heavy index rose a sizeable 2.5%. This has led to the S&P/ASX All Technology Index (ASX: XTX) rising 2.4% this morning.

Piedmont Lithium Ltd (ASX: PLL)

The Piedmont Lithium share price has stormed 7% higher to 89 cents. This appears to have been driven by improving risk sentiment and rising lithium prices. This led to the Global X Lithium & Battery Tech ETF rising a sizeable 6% during overnight trade. A number of other ASX lithium shares are recording solid gains this morning.

ResApp Health Ltd (ASX: RAP)

The ResApp share price has jumped 14% to 6.6 cents. Investors have been snapping up this digital health company’s shares after it announced a deal with AstraZeneca. According to the release, ResApp has secured a one-year, non-exclusive agreement with AstraZeneca’s Japanese subsidiary to license its cough counting technology for use in a program to support asthma patients in Japan.

Santos Ltd (ASX: STO)

The Santos share price has climbed 2.5% to $7.35. The catalyst for this was a solid rise in oil prices overnight. According to CNBC, the Brent crude oil price rose 2.3% to US$69.46 a barrel and the WTI crude oil price rose 2.5% to US$66.02 a barrel. Crude oil prices climbed as vaccine rollouts bolstered the economic outlook and U.S. fuel stocks reduced.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher appeared first on The Motley Fool Australia.

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