The All Ordinaries Index trades higher; here are 5 big gainers

big gainers

The All Ordinaries Index is up by 0.12% in Friday afternoon trade, gaining 7.4 points to 6223.30.

Here are 5 companies amongst the biggest gainers of the day.

REA Group Limited

The REA Group Limited (ASX:REA) share price has jumped $4.42 or 5.24% to trade at $88.72 after earlier reaching a 52-week high of $88.79.

The owner of reported revenue for the 3 months to March 31st 2018 rose by 19% to $186 million and EBITDA for the quarter of $102 million, also jumping 19%.

REQ Group remains on track to deliver the previous FY18 revenue guidance of between $26m – $30m and EBITDA between $7m – $11m.

Perpetual Limited

The Perpetual Limited (ASX:PPT) share price is up just over $2 or 5.07% to $42.56, after jumping over 10% earlier in the day.

Perpetual announced this morning that Rob Adams will be stepping in as the new Managing Director and Chief Executive Officer from 24 September 2018, succeeding Geoff Lloyd who will step down on 30 June 2018.

Mr Adams will be moving over to Perpetual from Janus Henderson Group PLC (ASX:JHC), a global investment management company, where he is Head of Pan-Asia and a member of the Global Executive Committee.

Tabcorp Holdings Limited

The Tabcorp Holdings Limited (ASX:TAH) share price has jumped 17 cents or  3.86% to $4.57.

There is no news out of the gambling and entertainment products company, but in a report in the Australian Financial Review on Thursday, according to Credit Suisse, the Federal Budget tax cuts for low-to-middle-income earners could be positive for consumer companies selling to this segment of the market.

Credit Suisse listed Tabcorp on this list of companies, alongside other such as Domino’s Pizza Enterprises Ltd. (ASX:DMP), JB Hi-Fi Limited (ASX:JBH) and supermarket owners Woolworths Group Ltd (ASX:WOW) and Wesfarmers Ltd (ASX:WES).

Nufarm Limited

The Nufarm Limited (ASX:NUF) share price has is up 28 cents or 3.17% to $9.12.

Nufarm on Tuesday announced that it expects underlying earnings before interest and tax (EBIT) for the twelve months to 31 July 2018 to be approximately 5% above the previous year (FY17 underlying EBIT: $302.3 million). This compares to the guidance of 5 to 10% growth provided at the first half results release.   

Challenging climatic and weather events across Nufarm’s key regions of Australia/New Zealand, Europe and North America are behind the forecast downgrade.  

The dry weather conditions in eastern Australia have also had an impact on integrated grain business Graincorp Ltd (ASX:GNC), its shares dropping 0.9% to $7.75 after reporting an almost 60% decrease in profits in first quarter earnings.

Caltex Australia Limited

The Caltex Australia Limited (ASX:CTX) share price has risen 2.33% to $30.57, after the release an unaudited first quarter trading update.

The service station group announced a $172 million first-quarter profit after tax, up from $161 million in the same period a year ago. The update included a replacement cost of sales operating profit – which removes oil price fluctuations – of $155 million, in line with the prior corresponding period’s $154 million result.

Earlier this year, Credit Suisse listed Caltex as one the companies that it believes are the most likely takeover targets for 2018. 

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