ASX Shares that are climbing high today

Australian Stock Markets

Four shares that are climbing more than most today are listed below. Here’s why they are storming higher 

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s decline with a push higher on Tuesday. In afternoon trade the benchmark index is up 0.5% to 6,208.6 points.

The A2 Milk Company Ltd (ASX: A2M) share price has climbed 4% to $10.80 after announcing a variation to its manufacturing and supply arrangements with Synlait Milk Ltd (ASX: SM1).

According to the release, the two parties have signed a new minimum term of five years to 31 July 2023, with an increase in volume of infant formula products over which Synlait has exclusive supply rights.

Synlait will increase its committed production capacity and pricing terms will reflect the commitment from both companies to an ongoing market-competitive pricing regime.

The FlexiGroup Limited (ASX: FXL) share price has pushed 4% higher to $2.27 after being the subject of a positive broker note out of Credit Suisse.

According to the note, the broker has upgraded the financial services company’s shares to an outperform rating with a $2.45 price target on the belief that it has a chance of meeting its earnings forecasts in FY 2018.

The InvoCare Limited (ASX: IVC) share price is up 2% to $14.00 after the funerals company announced yet another acquisition.

It has signed an agreement to buy Lester & Son in Albury-Wodonga. This is the leading funeral business on the New South Wales and Victoria border and is part of the company’s strategy of expanding its presence in regional markets.

The Treasury Wine Estates Ltd (ASX: TWE) share price is up 2% to $17.48.

This week the wine company’s shares were given an overweight rating and $20.00 price target by analysts at Morgan Stanley. The broker believes that the recent China-related selloff has brought the wine company’s share price down to an attractive level.

Why these 4 ASX shares are starting the week on a high

Australian Stock Markets

Four shares that have climbed more than most today are listed below. Here’s why they have started the week on a high:

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is fading but is still on course to make a positive start to FY 2019. At the time of writing it is up 0.1% at 6,201.2 points.

The EBOS Group Ltd (ASX: EBO) share price has surged almost 5% higher to $17.67 after it announced that it has won the tender to act as the exclusive third party distributor of pharmaceutical products to more than 400 Chemist Warehouse and My Chemist stores in Australia.

The five-year deal is expected to generate sales of approximately A$1 billion in the first year of the agreement.
 
The EML Payments Ltd (ASX: EML) share price has jumped 8% higher to $1.52 after entering into a multi-year agreement with UK-based GVC Holdings for the provision of branded reloadable cards for their European online gaming brands.

No financial details have been provided, but management expects the gross debit volume to revenue conversion ratio to be materially in line with other reloadable card programs the group operates.

The Mitula Group Ltd (ASX: MUA) share price has pushed 3.5% higher to 74 cents after its takeover approach moved a step closer to completion. According to today’s release, the shareholders of LIFULL Co have met and approved the issue of shares to Mitula shareholders in connection to the proposed scheme of arrangement.

The scheme remains subject to approval by Mitula shareholders, approval by the Supreme Court of Victoria, and other customary conditions.

The Yancoal Australia Ltd (ASX: YAL) share price has climbed 3.5% to 14.5 cents after the coal miner announced that it has applied for a dual listing on the Hong Kong Stock Exchange.

Management advised that it has applied for the dual listing in the interests of increasing liquidity in its shares and to help further diversify its investor base. It also announced an impending capital raising, though no details were provided.

ASX shares have surged higher today

Australian Stock Markets

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

It has been a disappointing day of trade for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Wednesday. In afternoon trade the index is down 0.5% to 5,983.2 points.

The Bellamy’s Australia Ltd (ASX: BAL) share price has climbed 7% to $16.91 despite there being no news out of the organic infant formula company.

But with its shares down significantly over the last couple of weeks, I wouldn’t be surprised if bargain hunters are swooping in today to pick up shares at a cheaper price.

The Jatenergy Ltd (ASX: JAT) share price has surged 11.5% higher to 14.5 cents after the energy-cum-infant formula company announced plans to open a retail store in China.

Jatenergy will open a store in the new Hui Yue Kid’s City shopping complex in Zhengzhou, China.

The complex has been designed specifically to cater to the mother and baby market, giving the company an opportunity to grow its presence in the lucrative market. A promising development but a touch too soon to invest in my opinion.

The Kogan.com Ltd (ASX: KGN) share price has bounced back from yesterday’s decline with an 8% move higher to $9.08. On Tuesday the ecommerce company’s shares fell hard after eBay announced plans to launch a monthly subscription that gives users free deliveries and returns.

It appears some investors have seized on this selloff to pick up shares at an attractive price.

The Retail Food Group Limited (ASX: RFG) share price has continued its move higher and is up a further 6.5% to 90 cents.

The market has responded well to the embattled food and beverage company’s new CEO appointment.

New CEO, Richard Hinson, has stated that initial turnaround plans have started to see a positive response.

5 things to watch on the ASX on Thursday

Australian Stock Markets

Will Thursday be a much-needed improvement for the Australian share market? Here are five things that could shape today’s trade:

On Wednesday the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) made it three days of declines out of three this week when it dropped 0.15% to 6,032.5 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open 14 points or 0.2% lower on Thursday. This decline comes despite a positive session on Wall Street overnight. The Dow Jones Industrial Average finished the day 0.2% higher, the S&P 500 was up 0.3%, and the Nasdaq was 0.6% higher.

Aristocrat Leisure results.
This morning gaming technology company Aristocrat Leisure Limited (ASX: ALL) is due to release its first-half results and expectations are high.

According to Goldman Sachs, the broker is looking for sales growth of 32% to $1,635 million, EBITA growth of 17% to $704 million, and net profit after tax growth of 14.4% to $312 million.

For the full-year the broker expects net profit after tax of $732 million, compared to the Bloomberg consensus median estimate of $701 million.

The Royal Commission continues.
This morning the Royal Commission continues its focus on small business lending.

Yesterday Bank of Queensland Limited (ASX: BOQ) took to the stand. The Commission heard how a primary school teacher purchased two Wendy’s franchises, only for the regional bank to double her monthly interest payments once it became too late for her to pull out of the contracts. Things didn’t end well, unfortunately.

Federal Reserve in no rush to raise rates.
Bond proxies such as Transurban Group (ASX: TCL) could be given a lift today after the U.S. Federal Reserve said there was no rush to raise rates in its minutes.

The FOMC minutes revealed that the central bank was in no hurry to accelerate the pace of rate hikes even though the economy continues to improve.

A hike next month, however, is very much in play. Yields on 10-year Treasuries dropped below 3%.

Gold miners could move higher.
The FOMC minutes also gave the gold price a much-needed lift to US$1,293 an ounce.

This could put gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) in a position for a positive day of trade. However, the gold price is still trading within sight of its lowest level in 2018.

ASX shares that have charged higher today

Australian Stock Markets

It has been a disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 0.8% to 6,035 points due largely to declines in the telco and resources sectors.

Four shares that have defied the market and charged higher today are listed below. Here’s why they are on the rise:

The BWX Ltd (ASX: BWX) share price has rocketed 36% higher to $5.98 after its CEO and CFO teamed up with Bain Capital to launch a $6.60 takeover approach for the personal care products company.

Judging by the fact that its share price is still trading at a reasonable discount to the offer price, the market doesn’t appear overly certain on a deal being concluded.

The HT&E Ltd (ASX: HT1) share price has charged 6% higher to $2.42 after the outdoor advertising company announced that APN Outdoor Group Limited (ASX: APO) has offered $500 million to acquire its Adshel business.

APN Outdoor believes Adshel’s Street Furniture business would provide an attractive complement to its existing out-of-home product offering.

The James Hardie Industries plc (ASX: JHX) share price has climbed 4.5% to $23.48 after the release of its fourth quarter and full-year results.

According to the release, James Hardie Industries achieved a 12% increase in adjusted group earnings before interest and tax to US$397.5 million for the 12 months ended March 31 2018.

The building supplies company also provided positive guidance for FY 2019.

The Yojee Ltd (ASX: YOJ) share price has zoomed 26% higher to 14.5 cents after the logistics and supply chain management platform provider signed a services agreement with Schenker (Asia Pacific).

The services agreement will see Schenker (Asia Pacific) pay Yojee a fee to commence a project for the implementation of Yojee’s platform into its ecommerce and last mile operations. While it is a positive, I would suggest investors wait to see how things progress.

ASX shares starting to ride high this week

Australian Stock Markets

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and has sunk into the red. At the time of writing the benchmark index is down 0.1% to 6,082 points.

Four shares that have not let that hold them back are listed below. Here’s why they have started the week on a high:

The Kidman Resources Ltd (ASX: KDR) share price is up 4.5% to an all-time high of $2.41. Investors continue to fight to get hold of the lithium miner’s shares after it announced an offtake agreement with Tesla, Inc last week.

This led to Ord Minnett slapping a buy rating and $3.20 price target on the company’s shares.

The Livetiles Ltd (ASX: LVT) share price is 8% higher to 41.5 cents following the release of a positive broker note out of Citi.

According to the note, the broker has initiated coverage of the technology company with a (high risk) buy rating and 56 cents price target. The broker suspects that the strategic relationship with key Microsoft and marketing vendor N3 could prove to be material.

The Vocus Group Ltd (ASX: VOC) share price has surged 6% higher to $2.51 after the embattled telco company announced the appointment of Kevin Russell as its group managing director and CEO.

Mr Russell has worked in the telco industry for over 20 years and held executive roles at both Telstra Corporation Ltd (ASX: TLS) and Optus. He also oversaw the turnaround of Hutchison 3G UK Holdings Limited.

The WiseTech Global Ltd (ASX: WTC) share price has risen 4.5% to $14.44 after the logistics platform provider announced the issue of approximately $100 million worth of shares to a single global institutional investor. Capital Group’s SmallCap World Fund picked up 7,560,153 ordinary shares at a price of $13.30 per share.

Management believes that the issue will support the company’s future growth and I agree. So too does the market judging by its share price rise today.

ASX shares ending the week with a bang

Australian Stock Markets

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is in the red once again. At the time of writing the benchmark index is down 0.15% to 6,084 points.

Four shares that have defied the market and pushed higher are listed below. Here’s why they are ending the week with a bang:

The Codan Limited (ASX: CDA) share price has jumped 7% to $2.94 after announcing a $9.5 million deal between its Minetec business and mining behemoth BHP Billiton Limited (ASX: BHP).


Minetec will supply its Fleet Management System to BHP’s Olympic Dam mine. As a result, full year underlying net profit after tax is now expected to be in the region of $38 million in FY 2018. Think Codan still looks to be good value despite its strong rise over the last 12 months.

The CSL Limited (ASX: CSL) share price has climbed 4% to $182.60 after the biotherapeutics company upgraded its full-year earnings guidance.

Thanks to the strong performance of its core business and a severe northern hemisphere influenza season, CSL now expects full-year net profit after tax in the range of US$1,680 to US$1,710 million, compared to previous guidance of US$1,550 to US$1,600 million.

The Smart Parking Ltd (ASX: SPZ) share price has rebounded almost 33% to 34.5 cents after providing clarity on the sudden termination of both its UK managing director and UK finance director.

The company advised that the two directors “were not operating in good faith and there was evidence they had breached a number of their employment conditions, including in relation to their entitlements and the amount of time they were spending in the business.” Smart Parking’s shares halved in value yesterday when it was first announced.

The Xanadu Mines Ltd (ASX: XAM) share price has stormed 12% higher to 23.5 cents after the copper and gold exploration company experienced significant insider buying.

No less than three of the company’s directors have been buying Xanadu Mines’ shares this week through on-market trades.

ASX: Shares that are climbing higher today

Australian Stock Markets

After a bright start to the day the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has faded and dropped into the red. In afternoon trade the index is down 0.3% to 6,088 points.

Four shares that have defied the market and pushed higher today are listed below. Here’s why they are climbing higher:

The A2 Milk Company Ltd (ASX: A2M) share price has pushed 2% higher to $10.76.

The infant formula and dairy company’s shares were higher in earlier trade but have faded as the day went on.

Investors initially appeared to respond positively to a broker note out of Goldman Sachs declaring the company a buy with a $12.70 price target.

News of a broker downgrade by Citi in the AFR may be weighing on sentiment this afternoon.

The Galaxy Resources Limited (ASX: GXY) share price has raced 7% higher to $3.33 despite there being no news out of the lithium miner.

Almost all lithium miners have pushed higher today after Kidman Resources Ltd (ASX: KDR) announced that it had signed an offtake agreement with Elon Musk’s Tesla, Inc.

The agreement is a take or pay agreement for less than 25% of Kidman’s expected production and lasts for three years. Tesla has two options to extend the agreement by a further three years.

The Rio Tinto Limited (ASX: RIO) share price has climbed 2% to $86.38.

This follows solid gains for the mining giant’s UK-listed shares overnight and was further supported by rising base metal prices and a positive broker note out of Macquarie.

According to the note, the broker has retained its outperform rating and $93.00 price target on Rio Tinto’s shares.

The Sigma Healthcare Ltd (ASX: SIG) share price is up almost 3% to 74 cents.

Investors appear to have responded positively to the pharmacy operator and distributor’s annual general meeting yesterday. Management confirmed its target of delivering on its EBIT guidance of around $90 million in FY 2019.

ASX shares climbing higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to bounce back strongly from yesterday’s decline and is up 0.4% to 6,121.9 points in afternoon trade.
 

Four shares that have climbed more than most today are listed below. Here’s why they are storming higher:

The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price is up 5% to $44.70 despite there being no news out of the pizza chain operator.

But with just six weeks to go until the end of its financial year, investors may believe that no profit warning release means that the company is on track to meet its full-year guidance. I like Domino’s and think it is well worth a closer look.

The Gtn Ltd (ASX: GTN) share price has risen 4.5% to $2.20 after the advertising platform provider announced that major shareholder GTCR Gridlock II has sold 20 million shares to institutional and sophisticated investors through Macquarie Capital. GTCR Gridlock II still holds 89 million or 39.6% of the company’s shares.

The block trade was made at a price of $2.00, just one cent lower than the last close price.

The InvoCare Limited (ASX: IVC) share price has climbed over 4% to $12.36 after the release of a positive broker note out of Citi. According to the note, its analysts have upgraded the funerals company to a buy rating from sell with an improved price target of $14.00.

Citi appears to believe that the company’s Protect and Growth strategy can deliver on its goals.

The Myer Holdings Ltd (ASX: MYR) share price has jumped almost 15% to 43 cents after the release of a better than expected quarterly sales update.

Myer reported a 2.7% drop in total sales to $635.3 million for the 13 weeks to 28 April 2018, with online sales surging 49.4% to $35.9 million. A note out of Citi yesterday had predicted a decline in quarterly sales of almost 5%.

ASX shares surging higher today

Australian Stock Markets

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a bit of an off day on Tuesday. In afternoon trade the benchmark index is down 0.3% to 6,117 points.
Four shares that have defied the market and pushed higher today are listed below. Here’s why they have surged higher:

The Afterpay Touch Group Ltd (ASX: APT) share price has jumped 8% to $7.50 after the payment solutions company announced that it has launched into the U.S. market.

Fashion retail group Urban Outfitters has been named as a launch partner alongside Australian retailers with a U.S. presence such as Lorna Jane, Cotton On, and Showpo.

Looking forward to seeing how well received the Afterpay platform is in the United States.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has surged 7% to $2.87 after the release of an update on the independent review of asset valuations.

As a result of these reviews, certain Student Accommodation assets and private equity assets have reduced in value.

These asset revaluations are expected to lower Blue Sky’s net profit after tax for the year by approximately $7 million.

The EML Payments Ltd (ASX: EML) share price has climbed 9% to $1.32 despite there being no news out of the fintech company.

Its shares are likely to be surging higher on news that the U.S. Supreme Court has overturned a federal ban on sports betting, paving the way for states to legalise it.

EML Payments generates sizeable revenues from the sports betting market, making this a big positive for the company.

The Link Administration Holdings Ltd (ASX: LNK) share price has pushed 5.5% higher to $7.17 after providing an update on the expected impact of legislative changes in superannuation.

According to the release, Link estimates the changes could impact revenue by as much as $55 million. The market appears to have been expecting far worse.

ASX shares ending the week on a high

Australian Stock Markets

Although it has given back some of its early gains, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a gain. In afternoon trade the benchmark index is up 0.1% to 6,126 points.

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:

The Pendal Group Limited (ASX: PDL) share price has climbed a further 5% to $10.26. The shares of Pendal, formerly known as BT Investment Management, have been on a tear since the release of its half-year results on Thursday.

One broker that was impressed was Macquarie. A note out of its equities desk reveals that its analysts have retained their outperform rating and lifted the price target on its shares to $11.00.

The Perpetual Limited (ASX: PPT) share price has pushed 5% higher to $42.75 after the fund manager announced the appointment of a new CEO.

According to the release, Rob Adams will join the company as its new managing director and CEO on September 24. Adams is currently the Head of Pan-Asia at Janus Henderson Group (ASX: JHG).

The REA Group Limited (ASX: REA) share price is up 5% to $88.66 after the real estate listings company released its quarterly update.

Investors appear to be pleased with the company’s 19% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring transactions.

Management advised that the impressive result was driven by the strength of the company’s residential and commercial businesses and the inclusion of the financial services business.

The Super Retail Group Ltd (ASX: SUL) share price is up 2% to $7.87 thanks to the release of a positive broker note out of Ord Minnett.

According to the note, the broker has upgraded Super Retail’s shares to a buy rating with an increased price target of $9.00. I would agree with Ord Minnett and think investors ought to consider buying shares.

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ASX: Shares roaring higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and has edged lower in afternoon trade. At the time of writing the index is down slightly to 6,091.3 points.

Four shares that haven’t let that hold them back are listed below. Here’s why they are surging higher:
The Challenger Ltd (ASX: CGF) share price has climbed almost 5% to $12.47.

This morning the annuities company welcomed reforms included in the Federal Budget that will transform the retirement phase of superannuation.

In addition to this, a note out of Citi reveals that its analysts have upgraded Challenger to a buy rating with a $13.60 price target.

The Clean TeQ Holdings Limited (ASX: CLQ) share price has jumped 8.5% to $1.09.

The market appears to have responded positively to news that non-executive director Stefanie Loader has picked up 50,000 shares through an on-market purchase this week.

Last week the cobalt-focused mineral exploration company’s shares rose strongly after it provided a positive update on the progress it is making at its Sunrise Project.

The Reece Ltd (ASX: REH) share price has rocketed 14% higher to $12.26 after successfully completing its institutional placement and entitlement offer to raise $248 million.

The funds will be used to support the transformational acquisition of U.S. plumbing equipment distributor MORSCO for $1.9 billion. The funds were raised at $10.20 per share.  This has been a great move by management.

The WiseTech Global Ltd (ASX: WTC) share price is up 5.5% to $12.71. The logistic platform provider’s shares have been on fire in May and have now risen 16%.

A broker note out of Citi this week may have been the catalyst for this push higher. Its analysts upgraded WiseTech Global’s shares to a buy rating with a $14.12 price target.

This could mean there’s still plenty more upside for its share price despite this strong run.

ASX shares on rise than most today

Australian Stock Markets

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for another day of solid gains and is up almost 0.4% to 6,107 points.

Four shares that are climbing more than most today are listed below. Here’s why they are on the rise:
The G8 Education Ltd (ASX: GEM) share price is up almost 6% to $2.51 despite there being no news out of the childcare operator.

This latest gain means the G8 Education’s shares have risen 14% since the release of its presentation for the Macquarie Australia conference last week. Investors appear pleased that trading conditions haven’t deteriorated since its last update.

The Gascoyne Resources Ltd (ASX: GCY) share price is up 5% to 55 cents after the gold miner announced that ore commissioning has commenced on the 2.5Mtpa process plant at its Dalgaranga Gold project.

 According to the release, the project contains an estimated 1.3 million ounces of gold. The first gold production is expected in around 10 days.

The IPH Ltd (ASX: IPH) share price has climbed 5.5% to $4.07 after the leading intellectual property services group announced an on-market share buyback program.

According to the release, the company intends to buy up to $40 million worth of shares from May 23 for 12 months. Management has advised that the buyback will not impact its existing dividend policy and reflects confidence in the company’s future performance.

The Platinum Asset Management Limited (ASX: PTM) share price has jumped 7.5% to $6.01. After the market closed on Monday Platinum released its funds under management (FUM) update for April.

According to the update, FUMs grew almost 3% during the month to $28 billion. One broker that liked what it saw was Credit Suisse. According to a note out of the investment bank, it upgraded Platinum to a neutral rating from underperform (sell) following the update.

ASX shares ending the week on a high

Australian Stock Markets

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a strong finish to the week. At the time of writing the index is up 0.3% to 5,927.2 points.

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:

The iSelect Ltd (ASX: ISU) share price has rebounded slightly and pushed 6% higher to 50 cents today. The price comparison company’s shares have been crushed this week after a trading update revealed a sizeable revision to its full-year earnings guidance.

However, news that one of its directors has been buying shares on-market appears to have helped with investor sentiment.

The Nanosonics Ltd. (ASX: NAN) share price has stormed 10.5% higher to $2.50 after the infection control specialist revealed that its second generation trophon platform device has been granted clearance by the FDA.

If all goes to plan, management expects the commercial release of the new trophon2 product in the USA will take place during the first quarter of the 2019 financial year. Nanosonics has been experiencing high levels of short interest lately, which I suspect could have led to a short squeeze today.

The Nextdc Ltd (ASX: NXT) share price is up over 2% to $6.79. The data centre operator’s shares were given a boost today after global tech giants Amazon and Microsoft both reported surging revenues from their cloud hosting businesses.

This could be interpreted as a sign that demand for NEXTDC’s services is also booming. As I said earlier, I think it would be a great buy and hold investment option.

The ResMed Inc. (ASX: RMD) share price has climbed 2.5% higher to $12.97 after the release of its third-quarter results. According to the release, the sleep treatment company delivered an adjusted profit of US$132.5 million on revenues of US$591.6 million for the quarter ending March 31 2018.

This was an increase of 32% and 15%, respectively, on the prior corresponding period. Like NEXTDC, I think ResMed would be another quality buy and hold investment.

Aussie Dollar versus the AUD/USD

AUD/USD has taken a dive to start this week with the largest single-day loss in a month and the steepest three-day plunge since December 2016.

In the process of this collapse, the pair has tentatively fallen through a trendline floor that has guided the pair generally higher since the beginning of 2016. The speculative implications are clear.

However, is this a case of the Aussie Dollar falling apart, the swell from the Greenback or a mix of the two? If you look at the AUD's general performance, the currency was lower against most Monday (the exception being the Yen), but its progress was far more measured and there weren't any other critical technical milestones. 

AUD/USD commands considerable authority over the crosses owing to its liquidity, but there is no guarantee that the Greenback can offer sustained momentum. Perhaps the 1Q CPI update coming up can change that mix, but that is a big 'if'.

Australian shares started the week in a chippier mood with gains on Monday and looks poised to open higher, with futures pointing to the index adding 8 points at the open.  

Prices have found their way higher as earlier Aussie Dollar depreciation factored into calculations while the economy perked up, with PMI surveys pointing to robust momentum in manufacturing- and service-sector activity growth.

ASX battles after tumultuous Wall St trade and starts new quarter on back foot

Australian shares managed to claw back the bulk of early losses on Tuesday to end marginally lower, thanks largely to strong support for the big miners and a takeover offer for gas company Santos.

Monday's news of Chinese retaliation to US trade tariffs rattled global markets, while further sharp losses in big tech names such as Facebook and Intel that night extended recent falls in key Wall Street indices to more than 10 per cent, satisfying the technical definition of a correction.

After sliding sharply in early trade, the benchmark S&P/ASX 200 index battled back through the morning to climb back into the black by lunchtime before ultimately ending the day off 7 points at 5752. The wider All Ordinaries index eased 10 points to 5859 as futures trading pointed to some recovery in New York on Tuesday night.

The major diversified miners provided the bulk of the support for the ASX, as BHP climbed 1.8 per cent to $28.71 and Rio Tinto 2.1 per cent to $74.19. Gold miners were also in favour as the nervous tone in markets pushed the price of the precious metal higher. Newcrest Mining ended the session up 2.3 per cent to $20.01 as the All Ordinaries Gold Index climbed 2 per cent.

Santos's 16 per cent surge to $5.89 provided a further impetus for the local bourses recovery as it returned to trade late Tuesday morning after confirming a $6.50 bid from US consortium Harbour Energy.

Among the major drags on the ASX on Tuesday were further losses in the major banks – including a 1.2 per cent fall in ANZ to $26.55 – while pokies group Aristocrat Leisure dropped 2.7 per cent to $23.41.

Toll road operator Transurban lost 1.7 per cent to $11.23 and Sydney Airport fell 2.1 per cent to $6.57.In other news, the Aussie dollar found some support following the Reserve Bank's widely anticipated decision to hold rates steady at 1.5 per cent for a record 18 straight meetings. The currency fetched US76.9 cents in late trade.

The ASX fell back, Oil producers at it's best

Australian shares fell for the second time in three sessions as another surge in global trade tensions sent investors shying away from equities and as A2 shares fell hard.

The S&P/ASX 200 index fell 42 points, or 0.7 per cent, to 5789 while the All Ordinaries lost 44 points, or 0.7 per cent, to 5899 and the Australian dollar traded at US76.92c.

The losses in Australia came after another steep trade-related drop on Wall Street where speculation that the Trump administration is considering a crackdown on Chinese investments in technologies sent a technology sector already battered by revelations around data practices reeling.

Still, concern over a trade war was enough to batter stock prices in the Australian equity market, with the growth-sensitive resource sector under pressure as the banks also sold off.

Iron ore producer Fortescue Metals fell 4.6 per cent to $4.37, diversified miner BHP lost 1.1 per cent to $28.67, while Rio Tinto fell 1 per cent to $73.39.

Banks under pressure included CBA, down 0.8 per cent at $71.86, ANZ, down 1.1 per cent at $27.10, NAB, down 0.8 per cent at $28.40 and Westpac, down 0.4 per cent at $28.58. Macquarie shares fell 1.2 per cent to $102.81.

A2 Milk plunged 7.5 per cent to $12.06 after it said it's expecting marketing investment in the second half of 2018 to exceed investment made in the first half of 2018 by between NZ$35 million ($33 million) and NZ$40 million due to increased spending in China and the USA.

A2 investors were also eyeing a report in the New Zealand Herald that Nestle has launched a rival infant formula product in China under the brand name Atwo. A2 shares have performed strongly this year, up 63.5 per cent.

Australian asset manager Blue Sky Alternative Investments fell 9 per cent to $10.40 before trading was halted in its shares.

ASX: Four shares that have climbed more than most today

Australian Stock Markets

Four shares that have pushed higher than most today are listed below. Here’s why they have pushed notably higher: 

The Altium Limited (ASX: ALU) share price has climbed 4.5% to $20.84 despite there being no news out of the software-as-a-service company.

But considering its shares took a bit of a tumble yesterday, suspect some investors have taken up the opportunity to buy this quality company’s shares at a more attractive price. It would be a great long-term investment option even after its stellar share price run.

The Blackham Resources Ltd (ASX: BLK) share price has rocketed 43% higher to 7.6 cents after the gold miner released an update on its production.

According to the release, Blackham achieved record monthly gold production of 6,713 ounces during February. Another big positive was its low all-in sustaining cost of A$912 per ounce in February compared to the average realised gold price of A$1,670 per ounce.

The Galaxy Resources Limited (ASX: GXY) share price has bounced back from a series of declines with a 2.5% move higher to $2.99.

Galaxy and the rest of the lithium miners have come under pressure in recent weeks amid concerns over the prospect of an oversupply of lithium in the future. Some analysts believe this will weigh heavily on lithium prices.

The Nufarm Limited (ASX: NUF) share price is up around 2.5% to $8.33 after the crop protection company announced that the European Commission has approved its acquisition of the Century portfolio from Adama Agricultural Solutions of Israel and Syngenta AG of Switzerland. The company expects to complete the acquisition in the next week.

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The benchmark the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has returned to form on Thursday and finds itself up over 0.5% to 5,934 points in afternoon trade.

Why these 4 ASX shares have stormed higher today

Australian Share Markets

The benchmark S&P/ASX 200 (Index: AXJO) (ASX: XJO) has bounced back from four consecutive trading days of declines and is up 1.2% to 5,963 points in afternoon trade.

Four shares climbing more than most today are listed below.

Here’s why they have stormed higher:

The Avz Minerals Ltd (ASX: AVZ) share price has climbed 4.5% to 24 cents following the release of an update on the drilling activities at its Manono lithium project in the Democratic Republic of the Congo.

According to the release, the latest drill hole has intersected 282.95 metres of pegmatite, containing a similar proportion of spodumene reported from two previous drill holes.

This appears to back up predictions that AVZ Minerals is sitting on a lucrative asset.

The Qantas Airways Limited (ASX: QAN) share price has ascended 4.5% to $5.86 despite there being no news out of the company or broker notes that I’m aware of.

Last month, however, there were plenty of bullish broker notes following the release of its strong half-year results.

One that stood out for me was from Citi.

Its analysts labelled Australia’s flag carrier airline as a buy and placed a $7.50 price target on its shares.

I would agree with Citi on this recommendation.

The Vocus Group Ltd (ASX: VOC) share price has pushed almost 6% higher to $2.39.

This morning the telco company announced the appointment of Bob Mansfield AO as its chairman with immediate effect.

Mr Mansfield has previously been the company’s deputy chairman and lead independent director.

The market appears pleased with this decision and rightly so.

He previously served as chairman of Telstra Corporation Ltd (ASX: TLS) and was the founding CEO of Optus.

The Xero Limited (ASX: XRO) share price has bounced back from yesterday’s decline with a 3% gain to $31.81.

The accounting software company’s shares were sold off yesterday after the surprise departure of Rod Drury as its CEO.

Xero’s shares have regained around half of yesterday’s decline.

ASX: These 4 shares have started the week with a bang

Australian Stock Markets

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week and is down 0.65% to 5,891 points in afternoon trade.

Four shares that have defied the market and pushed higher today are listed below. Here’s why they have started the week with a bang:

The Dicker Data Ltd (ASX: DDR) share price has climbed almost 4% to $2.90. This morning Dicker Data released its revenue, earnings, and dividend guidance for FY 2018.

Management expects revenue of $1,380 million and net profit before tax of $42.5 million, a year-on-year increase of 6% for both. Pleasingly, management plans to increase its dividend at a quicker rate of 9.8% and pay a full-year dividend of 18 cents per share.

The Lynas Corporation Ltd (ASX: LYC) share price has jumped almost 6% to $2.22 following the release of the rare earth producer’s half-year results.

Lynas posted revenue growth of 75% to $200.9 million and record earnings before interest and tax of $63 million. This was driven by a 17% increase in total rare earth oxide production to 8,839 tonnes and favourable prices. I thought this was a strong result and can’t say I’m surprised with the move higher today.

The MGC Pharmaceuticals Ltd (ASX: MXC) share price has surged 12% higher to 10 cents after the diversified cannabis company provided an update on its operations.

Although there wasn’t a great deal of new information, investors appear pleased that things are going as planned and the company could be generating meaningful revenues over the next 12 months.

The Myer Holdings Ltd (ASX: MYR) share price has stormed 15.5% higher to 46.2 cents. Although there has been no news out of the department store operator, the volume of shares being traded has been increasing significantly over the last few days.

This has led to further speculation that Myer could be a takeover target. Investors would be better off ignoring the speculation and avoiding Myer’s shares.


These three growth shares have achieved exactly this and could be in the buy zone today.