In afternoon trade S&P/ASX 200 index has given back its morning gains and is trading largely flat at 6,663.3 points.
Four shares that haven't let this hold them back are listed below. Here's why they have charged higher today:
The Althea Group Holdings Ltd (ASX: AGH) share price is up over 7% to $1.08 after the cannabis company announced that it has furthered its relationship with independent scientific committee Drug Science. Althea has been selected from a limited number of medicinal cannabis companies to supply its range of products to the committee's Project TWENTY21. This is the UK's first national pilot for medical cannabis which will be officially launched on July 18 and aims to enrol 20,000 patients before the end of 2021.
The Collins Foods Ltd (ASX: CKF) share price is up 2% to $7.82 following the release of its full year results. The quick service restaurant operator reported an underlying net profit of $45 million on revenue of $901.2 million. This was a 15.7% and 16.9% year on year increase, respectively, and driven partly by same store sales growth of 3.7% in Australia.
The Helloworld Travel Ltd (ASX: HLO) share price has risen over 3% to $4.74 after the travel company revealed that its government contract has been extended by a further two years. Helloworld's QBT business will now provide Travel Management Services for the whole of the Australian Government for a two‐year period from July 1 to June 30 2021. The government has the option to extend it by a further year in 2021.
The St Barbara Ltd (ASX: SBM) share price has stormed 6% higher to $3.09 after the spot gold price rose to a multi-year high overnight. The prospect of the U.S. Federal Reserve cutting rates imminently has been behind the precious metal's increase. St Barbara isn't the only gold miner on the rise. The S&P/ASX All Ords Gold index has charged 2% higher this afternoon.
