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Why these 4 ASX shares have started the week with a BANG

It has been a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.3% to 5,757 points.

Despite this, four ASX shares have managed to defy the market and climb higher today. Here’s why:

The MMJ Phytotech Ltd (ASX: MMJ) share price has rocketed a remarkable 29% to 61.5 cents following a positive announcement out of the “pot stock”. Today’s announcement revealed that its cannabidiol extract product is now available for sale throughout all pharmaceutical outlets in Germany. Furthermore, the company has signed a letter of intent with a Danish company to market and distribute its products throughout Scandinavia.

The Perseus Mining Limited (ASX: PRU) share price has surged 12% higher to 34.2 cents. Today’s gain is likely to be a combination of a rally in gold miner shares and the company’s announcement regarding funding. The company has secured US$60 million of debt finance from Macquarie Group Ltd (ASX: MQG) to fund its growth strategy.

The SKY and Space Global Ltd (ASX: SAS) share price has climbed 5% to 20 cents after the exciting technology company announced an agreement with a major South American telecommunications provider. Globalsat and SKY and Space Global will explore a commercial and technical collaboration to provide the latter’s narrow-band satellite communication services to end-users in South and Latin America.

The Ten Network Holdings Limited (ASX: TEN) share price has jumped 8% to 63.2 cents despite there being no news out of the entertainment company. But with its shares down almost a third so far this year even after today’s gain, it would appear as though bargain hunters have swooped in. Whilst it does look cheap at today’s price, I’m not overly bullish on its future. For this reason I would hold off an investment.

Missed out on gains today? Don't worry, I believe these three growth shares could provide investors with strong gains over the next 12 months.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often full franked..

But knowing which blue chips to buy, and when, can often be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

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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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