It has been a day of ups and downs for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). But in afternoon trade the benchmark index has bounced back from an earlier decline and is up 0.1% to 6,157.6 points.
Four shares climbing more than most today are listed below. Here's why they have climbed higher on Thursday:
The Afterpay Touch Group Ltd (ASX: APT) share price is on course to end its losing streak and is up 4.5% to $18.42. The payments company's shares have come under pressure since the release of its half years results but appear to have found support on Thursday. One broker that is still a big fan is Ord Minnett. This morning the broker retained its buy rating and lifted its price target on Afterpay Touch's shares to $23.00.
The BINGO Industries Ltd (ASX: BIN) share price is up 15% to $1.67 after the ACCC advised that it would not oppose its acquisition of Dial a Dump Industries. The ACCC made the decision after it accepted a court-enforceable undertaking from BINGO to divest its recycling facility in Banksmeadow, New South Wales. This acquisition is expected to be a key driver of long term growth for the company.
The Ramsay Health Care Limited (ASX: RHC) share price is up 6% to $64.82 following the release of the private hospital operator's half year results. In the first half of FY 2019 Ramsay delivered revenue of $5.1 billion, up 14.9% on the prior corresponding period. Part of this growth was driven by the Capio acquisition. If you exclude this, Ramsay's revenue would have been 6.1% higher than the same period last year. This result appears to have beaten the market's expectations.
The Rio Tinto Limited (ASX: RIO) share price has climbed 2% higher to $96.99. After the market closed on Wednesday the mining giant released its full year results and revealed a 6% increase in earnings per share to 512.3 U.S. cents. This strong performance and its high levels of cash flow allowed the Rio Tinto board to declare a final dividend of 180 U.S. cents per share and a special dividend of 243 U.S. cents per share.
