After a strong start to the day the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back a good portion of its morning gains and is up 0.1% at 6,173 points in afternoon trade.
Four shares that have climbed more than most today are listed below. Here's why they have started the week with a bang:
The Afterpay Touch Group Ltd (ASX: APT) share price is up a massive 19% to $20.45 after the recommendations of the Senate inquiry into credit and financial services targeted at Australians at risk of financial hardship were made public. None of the recommendations that are applicable to the buy now, pay later industry are expected to be a problem for the Afterpay platform. Rival Zip Co Ltd (ASX: Z1P) has also surged higher.
The Appen Ltd (ASX: APX) share price has rocketed 18% to $22.20 following the release of an impressive full year result from the developer of high-quality, human annotated datasets for machine learning and artificial intelligence. Appen posted underlying EBITDA of $71.3 million for FY 2018, up 153% on the prior corresponding period and 10% ahead of the upgraded guidance given in mid-November.
The Galaxy Resources Limited (ASX: GXY) share price has pushed 5% higher to $2.23 after the lithium miner confirmed it had completed the sale of a package of tenements located on the northern area of the Salar del Hombre Muerto in Argentina to South Korean conglomerate POSCO. Galaxy will receive US$271.6 million in the coming days, bringing its cash balance up towards the US$312 million mark or $436 million in local currency. Galaxy has zero debt on its books.
The Nanosonics Ltd (ASX: NAN) share price has jumped 12% higher to $4.06 following the release of the infection control specialist's half year results. Nanosonics appears to have impressed the market with record first half sales of $40.7 million. This was a 36% increase on prior corresponding period and 33% on the second half of FY 2018. Operating profit before tax came in at $11 million, up 195% on prior corresponding period.
