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In late morning trade the S&P/ASX 200 Index (ASX: XJO) has fought back from an early decline and is pushing higher. At the time of writing the benchmark index is up 0.2% to 6,034.2 points.
Four shares that are climbing more than most today are listed below. Here's why they are storming higher:
The Lynas Corporation Ltd (ASX: LYC) share price has jumped 12% to $2.43. Investors have been buying the rare earths producer's shares after it announced a contract with the U.S. Department of Defense. According to the release, the contract will see Lynas complete a detailed market and strategy study plus detailed planning and design work for the construction of a Heavy Rare Earth separation facility.
The Northern Star Resources Ltd (ASX: NST) share price has climbed 3.5% to $16.04. Investors have been buying Northern Star's shares after the gold price broke through the US$1,900 an ounce level and hit a record high. Traders were buying the precious metal amid concerns over rising tensions between the United States and China.
The REA Group Limited (ASX: REA) share price has risen over 3% to $110.90. This follows the release of a broker note out of Credit Suisse this morning. Although it has concerns over property volumes because of the pandemic, it expects price increases to support yield growth. And while the broker has retained its neutral rating, it has lifted its price target from $94.50 to $110.30.
The Sezzle Inc (ASX: SZL) share price is up 1.5% to $8.02. Investors have been buying the buy now pay later provider's shares after the release of its second quarter update. During the second quarter, Sezzle delivered underlying merchant sales (UMS) of US$188 million. This was a 57.5% increase on the first quarter and a 348.6% lift on the prior corresponding period. This was driven by strong growth in customer and merchant numbers.
