Why these 4 ASX shares have surged higher today

The Hydroponics Company Ltd (ASX:THC) share price is one of four climbing higher today. Here's why…

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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.

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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