The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday's decline and finds itself 0.1% higher to 5,762 points today thanks to solid gains in the materials and energy sectors.
Four shares which have made notably strong gains today are listed below. Here's why they have rocketed higher:
The Brickworks Limited (ASX: BKW) share price has jumped 5% to $13.12 today. This morning the building products manufacturer threatened to take its manufacturing overseas if the government did not address soaring energy costs. Its recent gas contract negotiations for supply until 2019 means the company will see prices increase 76% across its east coast operations.
The Origin Energy Ltd (ASX: ORG) share price has climbed 3.5% to $6.58 after the integrated energy company was upgraded to an outperform rating by Credit Suisse. Although I think its planned divestments are a great idea, I'm reasonably bearish on oil prices at the moment. If oil prices tumble down to US$40 a barrel, I fear Origin's share price could fall significantly also.
The Pro Medicus Limited (ASX: PME) share price has risen 8% to $4.69 after the digital medical imaging company announced a major new deal with Primary Health Care Limited (ASX: PRY). The deal will see its Visage RIS product rolled out across 141 of Primary Health Care's diagnostic imaging sites. All in all, the deal is expected to add at least $14.5 million in total to Pro Medicus' top line over a five-year period.
The TPG Telecom Ltd (ASX: TPM) share price has jumped 4% to $6.57 today despite there being no news out of the growing telecommunications company. It appears as though investors may wish to grab hold of its shares ahead of its half-year release next week. Considering how cheap its shares appear right now, I can't say I'm surprised to see them climbing higher.