The Australian share market is putting on quite a performance today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) jumping a remarkable 2.16% (124 points) to record a near seven-year high at 5,867.6 points.
The market's rally follows a strong performance from equity markets around the world overnight as a ceasefire between Russia and the Ukraine was reached, while a surging oil price is also boosting investor confidence. Here are four mid-cap stocks that are jumping for joy today.
Shine Corporate Ltd (ASX: SHJ) has risen 4.5% to a new all-time high at $3.24 per share. While the jump could partially be attributed to a document released by the company, which showed that Director Anthony Bellas had purchased a further 30,000 shares (giving him a total of 140,000), investors are likely also hopeful of a strong earnings report following the results delivered by its rival Slater & Gordon Limited (ASX: SGH) earlier in the week.
Domino's Pizza Enterprises Ltd. (ASX: DMP) has also surged 5.2% to a new all-time high after it experienced a brief retreat in yesterday's session. On Wednesday, the stock skyrocketed nearly 22% on the back of an almost flawless earnings announcement, where it reported a 44.2% leap in net profit on the back of a 29.5% lift in revenue. Given its high valuation, investors are clearly confident the company can continue growing strongly over the coming years.
Burson Group Ltd (ASX: BAP) shares jumped by as much as 9.2% earlier in the session, also hitting a new all-time high at $2.74, before retreating slightly to $2.67. Earlier in the week, the company reported a 9.7% increase in pro-forma revenue which resulted in a 14.3% jump in pro-forma net profit after tax. The stock may also be jumping as a result of yesterday's higher unemployment figures. In times of greater uncertainty, consumers tend to hold onto their used cars for longer which will benefit companies like Burson Group.
Sims Metal Management Ltd (ASX: SGM) has been one of the market's top performers today with its shares up 8.6% at $11.53. For the six months ended 31 December 2014, Sims Metal announced a 53% lift in underlying net profit after tax (NPAT), which came despite a 5.7% decline in sales revenue. Investors will also be very happy with its fully franked 16 cent dividend, which comes after its final 10 cent dividend in 2014. Prior to that, the company hadn't paid a dividend since the 2012 financial year.
