Here’s why these 4 ASX shares are soaring today

Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back some of its early gains, as we approach the close the index is still higher by almost 0.1% to 5,471 points.

Four shares in particular have been having great days and putting on strong gains for their shareholders. Here’s why…

BT Investment Management Ltd (ASX: BTT) shares are up 8% to $9.61 after it announced a surprise increase in funds under management. Both its BTIM business and UK-based JO Hambro business posted increases, taking company-wide funds under management up to $84 billion as of September 30. Many had expected BTIM’s UK business to be negatively impacted by the Brexit, but so far these fears have been largely abated.

McMillan Shakespeare Limited (ASX: MMS) shares have jumped 5% to $12.18 after it announced that its RemServ business had been appointed to the novated leasing panel for the Queensland Government. RemServ will be one of eight organisations which will be authorised to originate and manage novated leases for employees of the Queensland Government for the next three years.

OceanaGold Corporation (ASX: OGC) shares have climbed almost 5% to $3.80 despite there being no news out of the gold miner. Most Australian gold miners have edged higher today despite little movement in the gold price. A spot of weaker-than-expected jobs data out of the US on Friday night may have some traders expecting the US Federal Reserve to hold off raising rates. Doing so is likely to cause the gold price to rise.

UGL Limited (ASX: UGL) shares rocketed 48% to $3.17 after the engineering company received a takeover approach from construction giant Cimic Group Ltd (ASX: CIM). CIMIC has offered $3.15 per share for every share outstanding that it doesn’t already own. Short covering may have driven its share price higher than the offer price. Last week there were around 5.5% of UGL’s shares held short.

Missed out on gains today? Don't worry. These rapidly growing shares could be next in line to bolt higher if you ask me. Catch them whilst you can!

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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