The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a very positive note. In afternoon trade the benchmark index is up 1.95% to 5,307.8 points.
Four shares that are climbing more than most today are listed below. Here's why they are surging higher:
The Afterpay Ltd (ASX: APT) share price is up 7% to $21.28. Investors appear to be buying the payments company's shares in anticipation of a strong update when the market returns on Tuesday next week. A number of its competitors have released their latest numbers this month and revealed further strong growth.
The Mesoblast limited (ASX: MSB) share price has jumped 12% to $2.05 after releasing a trial update. According to the release, Mesoblast's allogeneic mesenchymal stem cell (MSC) product candidate remestemcel-L will be formally evaluated in a randomised, placebo-controlled trial in 240 patients with acute respiratory distress syndrome (ARDS) caused by COVID-19.
The Netwealth Group Ltd (ASX: NWL) share price has climbed 4% to $7.60. This morning the investment platform provider released its March update and revealed record quarterly net inflows. Netwealth experienced $3.2 billion of net inflows during the quarter, bringing its year to date net inflows to $7.6 billion. This offset unfavourable market movements and led to a funds under administration increase of 19.4%.
The oOh!Media Ltd (ASX: OML) share price has rocketed 25% to 79.5 cents. Investors have been buying the media and outdoor advertising company's shares amid speculation rival HT&E Ltd (ASX: HT1) could be about to launch a takeover approach. This follows news that HT&E has snapped up 11 million shares in oOh!Media. Late this morning HT&E confirmed its purchases and revealed that it currently holds a 4.2% equity interest in oOh!media. It commented that it "looks forward to supporting oOh!media as a constructive significant shareholder."
