In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to follow the lead of U.S. markets and record a strong gain. At the time of writing the benchmark index is up 0.7% to 6,049.6 points.
Four shares that are climbing more than most today are listed below. Here's why they are racing higher:
The Afterpay Ltd (ASX: APT) share price is up 3.5% to $70.09. A good number of tech shares are charging higher on Thursday along with Afterpay. This follows a very positive night of trade on Wall Street's technology-focused Nasdaq index. It recorded a gain of 1.35% overnight after the U.S. Federal Reserve kept rates on hold at close to zero.
The Fortescue Metals Group Limited (ASX: FMG) share price has climbed 3% to $17.34 following the release of its fourth quarter update. Fortescue shipped 47.3 million tonnes (mt) during the quarter, taking its FY 2020 total shipment to 178.2mt. This means the company has outperformed the top end of management's guidance of 177mt. It is also 6% higher than the previous financial year. In FY 2021 it is aiming to ship 175mt to 180mt.
The Marley Spoon AG (ASX: MMM) share price has rocketed 32% higher to $3.17. Investors have been fighting to get hold of the global subscription-based meal kit provider's shares following its second quarter update. Thanks to a surge in demand due to the pandemic, the company's second quarter revenue came in at 73.3 million euros. This was an impressive 129% increase on the prior corresponding period.
The Splitit Ltd (ASX: SPT) share price is up 3% to $1.41. This morning the buy now pay later provider released its second quarter update and revealed record quarterly merchant sales volume of US$65.4 million. This was an increase of 260% on the prior corresponding period. It led to gross revenue of US$2.4 million, which was a sizeable 460% increase on the same period last year.
