Why these 4 ASX shares are climbing higher today

Australian Share Markets

The benchmark S&P/ASX 200 (Index: AXJO) (ASX: XJO) has dropped into the red and is down slightly at 5,940 points.

Four shares that have not let that hold them back are listed below. Here’s why they have climbed higher:

The A2 Milk Company Ltd (ASX: A2M) share price has followed up on yesterday’s stellar gain with a 7% move higher to $12.12.

At one stage the dairy company’s shares were up as much as 22% to an all-time high of $13.78 before profit-taking started to weigh them down.

The catalyst for this is likely to have been a broker note out of Citi which revealed that its analysts had retained their buy rating and increased their price target to $14.00.

The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 11% to $55.50.

This morning the travel agent announced a net profit of $102 million on revenues of $1,370 million.

This was an increase of 37% and 5%, respectively, on the prior corresponding period.

Management also upgraded its full-year profit before tax guidance to between $360 million and $385 million, from $350 million to $380 million previously.

The Qantas Airways Limited (ASX: QAN) share price has soared 6.5% higher to $5.61 after announcing a record half-year profit.

For the six months ended December 31, Qantas delivered a 15% increase in underlying first-half profit before tax of $976 million.

The key drivers of this growth were its Qantas Domestic and Jetstar segments. These two segments delivered double digit earnings growth during the period.

The Webjet Limited (ASX: WEB) share price has surged 16% to $11.98 following the release of a solid first-half result.

 The online travel agent achieved sales of $131.9 million and EBITDA from continuing operations of $41 million.

This was a 52% and 63% increase, respectively, on the prior corresponding period.

This puts the company on track to beat its FY 2018 guidance of more than $3 billion in TTV and EBITDA of at least $80 million.

Why these 4 ASX shares surged higher today

Australian Stock Markets

The benchmark S&P/ASX 200 (Index: AXJO) (ASX: XJO) looks set for another day in the red. 

In afternoon trade the index has sunk lower by 0.4% to 5,830 points.

Four shares that have defied the market and climbed higher are listed below. Here’s why they have surged higher:

The Cochlear Limited (ASX: COH) share price has pushed 3% higher to $176.75.

Although the implantable hearing device manufacturer disappointed the market with its half-year result yesterday, one broker saw enough promise to upgrade its shares.

According to a note out of Citi, its analysts have upgraded Cochlear to a neutral rating from sell and given its shares an increased price target of $175.00.

The Computershare Limited (ASX: CPU) share price is 5.5% higher at $17.40 following the release of its half-year results.

The market appears to be pleased with the company’s 12.4% increase in revenue to $1,123 million and 20% increase in management EBITDA to $289.6 million.

Key drivers of this growth were its US mortgage services operations and an increase in event activity in the stakeholder relationship management business.

The CSL Limited (ASX: CSL) share price has raced 5.5% higher to $149.83.

This morning the biotherapeutics company reported a 35% increase in half-year net profit after tax to US$1.1 billion.

The impressive result was driven by strong sales growth across major product lines and a number of new products being approved during the half.

 I think this demonstrates why CSL is one of the highest quality businesses on the ASX.

The Orora Ltd (ASX: ORA) share price has climbed 3.5% to $3.30 after the packaging company released its half-year results.

Orora delivered a 14.8% increase in net profit after tax before significant items to $105.7 million.

Management pointed to higher volumes in its Glass and Fibre segments as playing a key role in its strong first-half performance.

Whilst I felt this was a strong result, I thought its guidance was a touch soft.

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That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

The aussie property BOOM is almost over.

 THE Aussie property boom is nearing its end, with housing price growth to run in the low single-digits in 2018, a leading economist says. 

THE Australian share market looks set to open higher amid continuing positive sentiment and after better-than-expected produce price index figures boost Wall Street’s Dow and S&P500 indexes. At 0700 AEDT on Wednesday, the share price futures index was up 12 points, or 0.2 per cent, at 6,030.

Meanwhile, the Australian dollar has gained against the US dollar, which also rose on the stronger-than-expected PPI figures. The local currency was trading at 75.59 US cents at 0700 AEDT on Wednesday, from 75.36 on Tuesday.

Boom time for Australian housing market thanks to first-home buyers

THE number of first-home buyers entering the market has jumped across Australia, but two of our major cities remain hard to crack for those trying to break into the market.

THE number of first-home buyers entering the market has increased considerably around the country, but it’s not all good news for Melbourne buyers. 

The number of loans to first home buyers in Victoria has increased by a 33 per cent compared to last year, with a total of 8786 people choosing to buy their first home across the state.

While the number of people entering the market has jumped, in part due to the changes to stamp duty for eligible first home buyers, Melbourne and Sydney remain hard to afford for those trying to enter the market for the first time.

Real Estate Institute of Australia’s quarterly housing affordability report shows an improvement in housing affordability nationally but highlights the issues with Melbourne’s market.

“First-home buyer numbers are strong in NSW with a 57.7 per cent increase for the quarter or 70.9 per cent year on year and very solid in Victoria with 32.2 per cent for the quarter and 33 per cent year on year".

Australian Business Conditions Surge to Highest on Record

Australian Stock Markets

Australian business conditions surged to the highest on record, reinforcing signs of a strengthening labor market and pickup in investment.

 
The sentiment index jumped seven points to 21 in October and was driven by spikes in sales and profitability gauges, according to a National Australia Bank Ltd. survey of more than 400 firms conducted in the last week of the month. The business confidence index was unchanged at a revised 8

Results from the survey indicate that the business sector in Australia is very strong at present, which is having positive spill-overs into the labor market and, to some extent, investment,” the bank said in a statement. “However, fairly restrained levels of business confidence could be telling us something about how firms see the outlook.”

The Australian dollar rose on the report, buying 76.30 U.S. cents at 11:54 a.m. in Sydney from 76.18 before its release.

Australia’s central bank is forecasting that a strengthening labor market will eventually drive wage gains and faster inflation, while Deputy Governor Guy Debelle said that there had been a solid upward trajectory in business investment. Household spending remains a key uncertainty  particularly after retail sales posted the weakest three-month stretch in seven years.

While the survey’s employment conditions were unchanged, the bank said the measure still remained at levels that implied solid growth in employment, which should be sufficient to put more downward pressure on the jobless rate.

But the report came with a caveat: leading indicators suggest the possibility of some pull-back in coming months. The bank said that forward orders had eased slightly and the result was driven by a surprise jump in manufacturing.

Australia non-mining investment on the mend: RBA

Australian Stock Markets

There are increasing signs business investment in Australia is picking up outside the resources sector thanks to growth in services and infrastructure spending, a timely support to the broader economy

 

According to the Deputy Governor, Guy Debelle  of Reserve Bank of Australia (RBA) recent revisions to economic data showed non-mining investment had been stronger than previously thought over the last couple of years. 

Growth has been concentrated in the services sector, including healthcare, telecoms and media. Public spending on infrastructure has also picked up markedly and is spilling over into investment in the private sector, said Debelle. 

That was a timely development as a boom in mining spending that stretches back more than a decade is almost at an end, he added.