Why these 4 ASX shares are racing higher today

The Bellamy's Australia Ltd (ASX:BAL) share price is one of four racing higher on Thursday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its disappointing start to the week and climbed 0.6% to 5,675.7 points.

Four shares that are climbing more than most today are listed below. Here's why they are racing higher:

The Bellamy's Australia Ltd (ASX: BAL) share price has pushed 4.5% higher to $7.53 after Chinese regulators decided not to implement new e-commerce laws on January 1 and chose instead to refine its existing policies. There had been concerns that tough new laws would be put into place that would have impacted the sales of exporters like Bellamy's.

The Cochlear Limited (ASX: COH) share price is up 3% to $167.46 after being the subject of a positive broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the hearing solutions company's shares to an overweight rating with a $175.00 price target. Its analysts appear optimistic on the growth opportunities that the Sycle business it acquired in 2017 provides.

The Noni B Limited (ASX: NBL) share price has zoomed almost 17% higher to $3.00 following the release of a trading update at its annual general meeting. Thanks to the successful integration of brands from Specialty Fashion Group Ltd (ASX: SFH), the retailer advised that it is on course to deliver a stronger EBITDA result in FY 2019 than current consensus estimates. It has provided full year EBITDA guidance of $45 million.

The Primary Health Care Limited (ASX: PRY) share price is up 6% to $2.51 after the healthcare company released a trading update at its annual general meeting. CEO and managing director, Dr Malcolm Parmenter, advised that the company's "results to‐date have been in line with expectations." And with conditions expected to improve in the second half, he has reiterated previous FY 2019 net profit after tax guidance of ~$100 million. This represents growth of approximately 8.3% on FY 2018's underlying result.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear Ltd. 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.

More on Share Gainers

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Pointsbet, Qantas, Serko, and Yandal shares are pushing higher today

These shares are avoiding the market selloff today. But why?

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best performing ASX 200 shares in October

Did you own the best performers on the index last month? Here they are.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors copped another rough session this Thursday.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Resources Shares

Mineral Resources share price rockets 16% on $1.1 billion news!

ASX 200 investors appear thrilled with Mineral Resources' latest news.

Read more »

Shot of a young businesswoman looking stressed out while working in an office.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Wednesday session for ASX investors today...

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors enjoyed anther positive session this Tuesday.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Firefly, Premier Investments, Serko, and Zip shares are roaring higher today

These shares are catching the eye with strong gains on Tuesday. But why are they rising?

Read more »