Why Corporate Travel Management, SKYCITY, Vocus, & Westpac are pushing higher

Vocus Group Ltd (ASX:VOC) and Westpac Banking Corp (ASX:WBC) shares are two of four pushing notably higher on the ASX on Thursday…

| More on:

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

The S&P/ASX 200 Index (ASX: XJO) looks set to continue its stellar run on Thursday. In late morning trade the benchmark index is up 1% to 6,003.1 points.

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

The Corporate Travel Management Ltd (ASX: CTD) share price is up 7% to $13.12. This is despite there being no news out of the corporate travel booker. This latest gain means that Corporate Travel Management's shares are now up approximately 200% from their March low.

The SKYCITY Entertainment Group Limited (ASX: SKC) share price has jumped 7% to $2.77. Investors have been buying the casino and resorts operator's shares since the release of an update on Wednesday. That update revealed that its New Zealand operations have performed well since reopening in the middle of May. Investors appear optimistic that the worst is now behind the company.

The Vocus Group Ltd (ASX: VOC) share price is up 3.5% to $3.23. This morning Vocus announced that it has refinanced its debt and reaffirmed its guidance for FY 2020. Vocus expects its earnings before interest, tax, depreciation, and amortisation (EBITDA) to be in the range of $359 million to $369 million. This compares to FY 2019's EBITDA of $360.1 million. Its core Vocus network services business has been performing well. It is expecting the key segment to deliver EBITDA growth of 10% this year.

The Westpac Banking Corp (ASX: WBC) share price has continued its run and is up almost 2% to $18.26. Investors have been buying Westpac's shares despite it releasing an update on its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF ) compliance issues. Australian oldest bank blamed the compliance issues on three primary factors. This includes some areas of AML/CTF risk not being sufficiently understood within Westpac.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Sky City Entertainment Group 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 »