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In late morning trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is pushing higher. At the time of writing the benchmark index is up 0.1% to 6,128.2 points.
Four shares climbing more than most today are listed below. Here's why they are charging higher:
The A2 Milk Company Ltd (ASX: A2M) share price is up 1.5% to $18.42. This follows the release of an announcement by the infant formula company this morning. That announcement reveals that it has made a non-binding indicative offer to acquire a 75.1% interest in Mataura Valley Milk for NZ$270 million. Mataura Valley Milk is a New Zealand based dairy nutrition business. If everything goes to plan, A2 Milk will look to establish blending and canning capacity at Mataura's facility in the future.
The Coca-Cola Amatil Ltd (ASX: CCL) share price has climbed 3.5% to $9.61. This morning analysts at Credit Suisse upgraded the beverage giant's shares to an outperform rating with an improved price target of $11.25. It made the move after the release of a better than expected half year result earlier this week.
The Star Entertainment Group Ltd (ASX: SGR) share price has jumped 9% to $3.20. This also appears to have been driven by a broker note out of Credit Suisse this morning. The broker has upgraded the casino and resorts operator's shares to an outperform rating with a $3.60 price target. It was pleased with its good cost control. This has led to its analysts upgrading their earnings estimates.
The Suncorp Group Ltd (ASX: SUN) share price has surged 7.5% higher to $9.35. Investors have been buying the insurance and banking giant's shares following the release of its FY 2020 results. Suncorp's cash earnings came in at $749 million in FY 2020, down 32.8% on the prior corresponding period. The market appears to have been expecting a much softer result.
