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Why these 4 ASX shares have surged higher today

After a terrible start to the day the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back in afternoon trade and is down just 0.3% to 5,853 points.

Four shares which have defied the market and climbed higher today are listed below. Here’s why they have jumped higher:

The Galaxy Resources Limited (ASX: GXY) share price has surged higher by 8% to 46.5 cents. News that global investment management giant Blackrock has become a substantial shareholder with a 5.6% stake appears to be the catalyst for today’s gain. I think the lithium miner is one of the better options in the materials sector and could be worth a closer look today.

The Hydroponics Company Ltd (ASX: THC) share price has jumped 4% to 40 cents after the diversified cannabis company announced a 22% increase in revenue to $1.1 million for its wholly owned Crystal Mountain/Dragon Vision business. Management believes its hydroponics division is on target to achieve its forecast of over $5 million in revenue for 2017.

The Incitec Pivot Ltd (ASX: IPL) share price has jumped 3.5% to $3.82 following the release of its half-year results. In early trade Incitec Pivot’s shares were lower by almost 5% after a mixed half, but as the day goes on the market appears to have warmed to its results and improving outlook.

The Resolute Mining Limited (ASX: RSG) share price is up 4% to $1.19 today. Resolute is one of a number of gold miners climbing higher today despite the gold price remaining stable at US$1,228 an ounce. As I’m reasonably bearish on the gold price, I would suggest investors stay away from the gold miners for the time being.

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Top 3 ASX Blue Chips To Buy In 2017

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

But knowing which blue chips to buy, and when, can 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 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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