These ASX shares are performing strongly today…
The post Why Afterpay, Challenger, MyDeal, & St Barbara shares are charging higher appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Wednesday. In afternoon trade, the benchmark index is up 0.75% to 7,315.4 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 4% to $119.51. This appears to have been driven by a solid night of trade on the tech-heavy Nasdaq index following the softening of bond yields. It isn’t just the Afterpay share price pushing higher. The S&P/ASX All Technology Index (ASX: XTX) is up a sizeable 2.3% at the time of writing.
Challenger Ltd (ASX: CGF)
The Challenger share price has jumped 8% to $5.93. Investors have been buying the annuities company’s shares after it announced a new major shareholder. This follows the signing of an agreement by US-based retirement services company Athene to acquire a 15% minority interest in Challenger from Caledonia (Private) Investments. Athene paid $6.00 per share, which represents a premium of 9.7% to Challenger’s last close price.
Mydeal.ComAu Pty Ltd (ASX: MYD)
The MyDeal share price is up 7% to 68.5 cents. Investors have been buying the ecommerce company’s shares following the release of its full year sales update. According to the release, MyDeal achieved gross sales of $218.1 million for the 12 months ended 30 June. This represents a 111.1% increase over the prior corresponding period. Management advised that this was driven by an 83.1% increase in customer numbers to 894,225.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up 3% to $1.90. This appears to have been driven by a rise in the gold price overnight. This follows the easing of bond yields on Tuesday night, which has given the precious metal and gold miners a boost. At the time of writing, the S&P/ASX All Ords Gold index is up 1.35%.
The post Why Afterpay, Challenger, MyDeal, & St Barbara shares are charging higher appeared first on The Motley Fool Australia.
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Motley Fool contributor 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 and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.