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Why these 4 ASX shares are thumping the ASX today

The S&P/ASX 200 (Index: ^AJXJO) (ASX: XJO) is trending slightly higher in early afternoon trade, fuelled by modest gains from US markets overnight. Nevertheless, each of the following four companies are trouncing the market, with their share prices up more than 4%.

  1. Village Roadshow Ltd (ASX: VRL) – up 4.16%. The owner of Sea World, Wet’n’wild, Movieworld and more, has seen its share price soar more than 4% today on the back of a positive market announcement yesterday, and a subsequent broker upgrade. In its ASX announcement, Village said it had acquired 80% of UK-based sales promotion consultancy business, Opia. Earlier today, Dow Jones Newswires reported that analysts at Deustche Bank upped their price target on Village shares 9.1% to $7.80.
  2. Flight Centre Travel Group Ltd (ASX: FLT) – up 5%. Flight Centre shares have rallied 14% in the past five days after the travel group announced two positive acquisitions to the market. Yesterday, Flight Centre confirmed its $US28 million investment in Student Universe and announced a 70% acquisition of shares in a holding company that owns BYOjet.com, in an effort to expedite its digital push.
  3. Slater & Gordon Limited (ASX: SGH) – up 8.4%. Slater & Gordon has been in and out of the news every day over the past six months. After making a concerning $1.2 billion acquisition earlier this year, Slater & Gordon was Australia’s largest listed law firm, but thanks to repeated falls (from over $8 to just 59.5 cents) the company is now worth just $315 million. Today’s jump comes a day after the company – perhaps to the surprise of many investors – confirmed it was in compliance with ASX listing rules.
  4. Independence Group NL (ASX: IGO) – up 5.2%. Shares of Independence Group, a nickel, gold, zinc and copper miner, have fallen nearly 50% over the past six months as commodity prices continued their descent. The company did not release any material news today.

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Motley Fool writer/analyst Owen Raszkiewicz owns shares of Slater & Gordon, and has a financial interest in Flight Centre. 

Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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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