Why Afterpay, People Infrastructure, Resolute Mining, & Sydney Airport stormed higher

The Afterpay Touch Group Ltd (ASX:APT) share price and the Sydney Airport Holdings Pty Ltd (ASX:SYD) share price are two of four storming higher on Thursday…

| 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

sdf

The S&P/ASX 200 is on course to continue its solid run on Thursday. In afternoon trade the benchmark index is up 0.3% to 6,665.8 points.

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

The Afterpay Touch Group Ltd (ASX: APT) share price has continued its recovery and is up over 5% to $23.22. Once again, it appears as though bargain hunters have taken advantage of the recent selloff to pick up shares. The payments company's shares have come under pressure this month after it revealed that AUSTRAC has ordered an audit of its compliance with money laundering and terrorism-financing laws.

The People Infrastructure Ltd (ASX: PPE) share price has jumped 5.5% to $3.31 a day after the technology-enabled workforce management company entered into agreements to acquire Queensland-based healthcare staffing agencies First Choice Care and Carestaff Nursing Services. One broker that was pleased with the deal was Ord Minnett. This morning it retained its buy rating and lifted the price target on its shares to $3.50.

The Resolute Mining Limited (ASX: RSG) share price has stormed 8% higher to $1.17 after the gold price raced higher overnight. The catalyst for the precious metal's solid gain was the U.S. Federal Reserve conceding that a rate cut may be necessary in the near term. Resolute isn't the only gold miner on the rise today. The S&P/ASX All Ords Gold index is up an incredible 4.7% at the time of writing.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has risen almost 3% to a 52-week high of $8.15 following the release of traffic figures for the month of May which revealed an increase in both domestic and international passengers. According to the release, the total number of passengers that travelled through Sydney Airport last month grew by 2.4% compared to the prior corresponding period to just over 3.5 million.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended People Infrastructure 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

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »

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

Why Betr, Centuria Capital, GR Engineering, and Mach7 shares are pushing higher

These shares are having a good finish to the week. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX gave up an afternoon lead to close lower today.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Clarity Pharmaceuticals, Kelsian, Life360, and Syrah shares are rising today

These shares are pushing higher on Thursday. But why?

Read more »

Man smiling on top of rocks with mountains in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were in a nervous mood today.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Beach Energy, Boss Energy, Cochlear, and Light & Wonder shares are pushing higher

These shares are having a good time on hump day. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Tuesday session for ASX investors today.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Thinking of selling your CBA shares? This expert says you should hold on

CBA shares are up by about 80% since November 2023.

Read more »