MENU

Why these 4 ASX shares have surged higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has dropped 0.4% to 5,734 points. Investors appear to be in a cautious mood ahead of tomorrow’s Dutch election and a potential rate hike in the United States overnight on Thursday.

But despite the index dropping lower, four shares in particular have defied the market and climbed higher today. Here’s why:

The Afterpay Holdings Ltd (ASX: AFY) share price has jumped 5% to $2.31 after the payments company announced that it had signed a two-year contract with department store operator Myer Holdings Ltd (ASX: MYR). The deal will see Afterpay’s buy now, receive now, pay later service rolled out on Myer’s online store from the fourth quarter of FY 2017.

The Fortescue Metals Group Limited (ASX: FMG) share price has surged 5% higher to $6.51 after iron prices rebounded strongly this week. The rebound appears to have been triggered by a report by Reuters that revealed that the Dalian Exchange plans to slash transaction fees for near-month iron ore contracts by as much as 90%. Furthermore, the exchange intends to open up the contracts to foreign traders.

The Stemcell United Ltd (ASX: SCU) share price has rocketed 22% to 50 cents today. The medicine plant extract business saw its share price rise almost 3,000% yesterday after announcing plans to pursue opportunities in the medical cannabis sector. This certainly looks to be as speculative as they come. So it’s probably best giving it a wide berth.

The WiseTech Global Ltd (ASX: WTC) share price is up 4.5% to $5.42 despite there being no news out of the provider of software solutions to the logistics industry. Although its shares are a little on the expensive side, I think this exciting company’s bright future goes some way to justifying the premium. In its recent half-year results the company grew its top line by 46% to $71.1 million.

If you missed out on gains today I wouldn't worry. I'm tipping these hot growth shares to smash the market in 2017. Are they in your portfolio yet?

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.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.