In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning streak. At the time of writing the benchmark index is down 1.25% to 5,891.1 points.
Four shares that have not let that hold them back today are listed below. Here's why they are pushing higher:
The Accent Group Ltd (ASX: AX1) share price is up 4% to $1.41 after the release of a trading update. According to the release, despite the pandemic, the footwear-focused retailer expects to deliver a 10% increase in operating earnings in FY 2020. For the 51 weeks ending 21 June, Accent's total sales stood at $923 million. Impressively, digital sales were up 150% between April and 21 June.
The CSL Limited (ASX: CSL) share price is up almost 1% to $294.69. Investors have been buying the biotherapeutics company's shares after it announced the US$450 million acquisition of AMT-061 from Nasdaq-listed gene therapy company, uniQure. The AMT-061 program, which is currently in Phase 3 clinical trials, could be one of the first gene therapies to provide potentially long-term benefits to patients with haemophilia B. One dose of AMT-061 has shown to increase Factor IX plasma levels to a degree that reduces or eliminates the tendency for bleeding for many years.
The Kogan.com Ltd (ASX: KGN) share price is up 0.6% to $15.60 despite there being no news out of the ecommerce company. However, a very positive update from one of its fellow online retailers this morning could have given its shares a boost today.
The Redbubble Ltd (ASX: RBL) share price has jumped 40% to $2.19. This morning the ecommerce company released a trading update which revealed that its sales have been booming over the last few months. Quarter to date, revenue is up 107% on the prior corresponding period. This has led to its operating profit for the 11 months to 31 May increasing 101% to $11.9 million.
