Why these 4 ASX shares have climbed higher today

The Aristocrat Leisure Limited (ASX:ALL) share price is one of four making strong gains today. Here's what you need to know…

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just managing to keep its head above water and in afternoon trade is up 0.1% to 5,774 points.

Four shares which have outperformed the market today are listed below. Here's why they have climbed higher:

The Auscann Group Holdings Ltd (ASX: AC8) share price has bounced back after recent declines and is up 9% to 49.5 cents. The medicinal cannabis company's shares came under heavy selling pressure in the last few trading days following a $12 million capital raising at 50 cents per share. It appears as though bargain hunters have swooped in today.

The Aristocrat Leisure Limited (ASX: ALL) share price is up 4% to an all-time high of $21.04 following the release of an impressive half-year result. The gaming solutions company reported a 49% increase in half-year NPATA to $272.9 million thanks partly to the impressive performance of its Americas business. Although its shares look expensive at 30x trailing earnings, considering its current growth profile I think it could be worth a closer look.

The Ansell Limited (ASX: ANN) share price has jumped 4.5% to $25.22 after the health and safety protection solutions provider announced plans to offload its Sexual Wellness business for US$600 million and initiate a major share-buyback program. At US$600 million, the deal values the segment at 19x FY 2016 EBIT. I think Ansell has received a good price and I can't say I'm surprised to see its shares jump higher.

The Worleyparsons Limited (ASX: WOR) share price has surged 7% to $12.50 today, bringing its two-day return to a massive 13%. Investors appear to be snapping up shares after management stated that its customers are indicating a return to CAPEX and OPEX growth. This led to Deutsche Bank upgrading its shares to a buy rating with a $13.73 price target. I think Worleyparsons could be a good option for investors looking to gain exposure to the resources sector.

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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