Today’s ASX top stocks: Praemium (PPS ↑12.4%), Macquarie Telecom Group (MAQ ↑11.8%)

Posted: 14 July 2021 12:10 pm
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The 10 biggest movers on the ASX.

The best performing companies on the ASX so far today were Praemium (PPS, up 12.4%) and Macquarie Telecom Group (MAQ, up 11.8%).

Less fortunate are Australia's buy now pay later (BNPL) stocks. Afterpay (APT), Zip (Z1P) and other stocks tumbled after Apple announced it's releasing a new BNPL product with deferred interest-free payments. You can read more about that here.

Biggest movers on the ASX Wednesday 14 July 2021

Investment advisory Praemium (PPS) was the dominant mover on the ASX today. Shares in the company rose 12.4% to $1.09 by midday.

"There were a couple of big announcements on the ASX on Wednesday that triggered PPS share price movement," said Finder's investments editor Kylie Purcell.

"First, Praemium has proposed the sale of its global operations business with strong apparent interest from potential buyers. Such a move could shore up capital and offer better growth opportunities on the home turf."

"It also released strong growth numbers in its quarterly report. For the June 21 quarter, PPS has reported record inflows of $1.2 billion and record total funds under administration (FUA) of $41.7 billion."

Praemium offers managed investment funds and proprietary software typically used in the investment advice sector.

Learn more about investing in Praemium in Finder's full guide.

Second place for market gainers went to Macquarie Telecom Group (MAQ), the telecommunication services company.

It rose 11.8% to reach $61.49.

Find out more about investing in Macquarie Telecom Group in Finder's full guide.

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Here's the full list of today's 10 biggest movers so far.

StockPrice% change
Praemium (PPS)$1.0912.4%
Macquarie Telecom Group (MAQ)$61.4911.8%
Weebit Nano (WBT)$1.9810.6%
4Dmedical (4DX)$1.575.4%
SSR Mining (SSR)$21.924.4%
L1 Long Short Fund (LSF)$2.524.1%
Advance NanoTek (ANO)$3.753.9%
Blackmores (BKL)$74.663.7%
KGL Resources (KGL)$0.573.6%
Syrah Resources (SYR)$1.173.5%

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Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to 11am. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated by 11am on the trading day, but these prices may be subject to minor variation depending on data availability.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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