Why Afterpay, AusCann, Caltex, & Sigma shares are racing higher

The Afterpay Touch Group Ltd (ASX:APT) share price and the Caltex Australia Limited (ASX:CTX) share price are two of four racing higher on Monday…

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In afternoon trade the S&P/ASX 200 index is on course to start the week with a gain. At the time of writing the benchmark index is up 0.3% to 6,730.7 points.

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

The Afterpay Touch Group Ltd (ASX: APT) share price has jumped 8% higher to $32.98. Investors have been buying the payments company's shares after it provided the results and recommendations of its AML/CTF final audit. The report notes historical non-compliance by Afterpay and makes six recommendations. However, the majority of these matters have now been addressed.

The Auscann Group Holdings Ltd (ASX: AC8) share price is up 4.5% to 23 cents. This morning the medical cannabis company announced that it has appointed TGA-licensed Aspen Pharmacare Australia to provide packaging for its medicinal cannabis pharmaceutical products. The agreement with Aspen is for an initial three-year period that can be extended. It will include GMP packaging services for AusCann's proprietary solid hard shell capsules.

The Caltex Australia Limited (ASX: CTX) share price has stormed 7% higher to $29.75. This morning the fuel retailer released a trading update and announced plans to spin off some of its property assets. Caltex intends to undertake an IPO of up to a 49% interest in 250 core Convenience Retail freehold sites. Management believes the proposed IPO will realise significant value for Caltex shareholders.

The Sigma Healthcare Ltd (ASX: SIG) share price has jumped 7% to 71 cents. Investors have been buying the pharmacy chain operator and distributor's shares after it announced a major first-line agreement with My Chemist/Chemist Warehouse Group (MC/CW Group). The agreement is for the supply of fast-moving consumer goods products and is effective from December 1. Management estimates that the agreement will generate $700 million to $800 million in sales during the first full year of operation.

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 AFTERPAY T FPO. 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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