In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is up 0.7% to 5,861 points, .
Four shares which are finishing the week with particularly strong gains are listed below. Here's why they have rocketed higher today:
The DUET Group (ASX: DUE) share price has surged almost 10% to $3.01 after the Foreign Investment Review Board approved the acquisition proposal by the CKI Consortium. Although shareholders will get to vote on the proposal today, it looks to be a mere formality now. The DUET board has unanimously recommended that shareholders vote in favour of the scheme.
The Fortescue Metals Group Limited (ASX: FMG) share price has climbed almost 5% to $5.42 today after iron ore prices rebounded. According to Metal Bulletin the spot price for the benchmark 62% fines rose 1.2% overnight to US$65.36 a tonne. With Chinese futures pointing higher, it looks as though iron ore prices could continue their recovery tonight.
The Iluka Resources Limited (ASX: ILU) share price has jumped higher for a second day in a row, this time by 6% to $8.65. The mineral sands producer's shares have now risen almost 18% in two days following the release of a positive quarterly update. Iluka's shares were given an additional boost today after Ord Minnett upgraded its shares to an accumulate rating with an $8.80 price target.
The Jumbo Interactive Ltd (ASX: JIN) share price has risen sharply again, this time by almost 7% to $2.41. The operator of the OzLotteries website has seen its share price rise 30% in the last five trading sessions amid speculation that lottery disruptor Lottoland could be interested in acquiring the company.
