Business
Why Afterpay, Alcidion, Eagers Automotive, & Pacific Smiles are storming higher
In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a positive note. At the time of writing, the benchmark index is up 0.45% to 6,671.5 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The Afterpay share price is up almost 5% to $105.90. Investors have been buying the payments company’s shares after it was added to both the ASX 20 and ASX 50 indices at the December rebalance. When companies are added to new indices it tends to support its share price. This is because it means fund managers with strict investment mandates can now invest and index-tracking funds have to buy shares.
The Alcidion share price has jumped 8% to…
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