Douugh Ltd (ASX:DOU) and Westpac Banking Corp (ASX:WBC) shares are two of four charging notably higher on Tuesday…
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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another again. At the time of writing, the benchmark index is up 0.4% to 6,511.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Douugh Ltd (ASX: DOU)
The Douugh share price has jumped 5% to 37 cents. This follows the release of an announcement this morning which reveals that the neobank has officially launched its app in the US following a successful 18-month trial. The company’s app uses artificial intelligence and machine learning to tailor individual financial solutions to a user’s personal income and spending data. It aims to help users spend wisely, save more, and accumulate wealth over time.
Mirvac Group (ASX: MGR)
The Mirvac share price is up over 4% to $2.75. Investors have been buying the property company’s shares after it was upgraded by analysts at Macquarie. The broker has upgraded Mirvac to an outperform rating with a $2.91 price target. It made the move on the belief that Mirvac will benefit from a recovery in the residential market.
Oil Search Limited (ASX: OSH)
The Oil Search share price has surged 6% higher to $3.95. The catalyst for this appears to have been another rise in oil prices overnight following Moderna’s COVID-19 vaccine update. It isn’t just Oil Search that is charging higher, a number of other energy shares are recording sizeable gains today. So much so, the S&P/ASX 200 Energy index is up almost 3.5% at the time of writing.
Westpac Banking Corp (ASX: WBC)
The Westpac share price is up 3% to $19.16. As well as getting a boost from the aforementioned COVID-19 vaccine news, Australia’s oldest bank was given a lift from a positive broker note. According to a note out of Morgan Stanley, its analysts have upgraded Westpac’s shares to an overweight rating with an improved price target of $20.40. It notes that the housing market is improving and is happy with its provisioning.
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia has no position in any of the stocks mentioned. 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.
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