Why these 4 shares are soaring on the ASX today

Credit: Lif

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) traded 1.3% lower today, following mixed leads from international markets overnight. However, the following four ASX shares were powering higher.

Lynas Corporation Limited (ASX: LYC) – up 11%.

Shares of the rare-earths miner leapt 11% today after the group released a statement to the ASX that revealed it had exceeded its production target for the six months to 31 December 2015. The better-than-expected production means the interest on Lynas’ JARE senior loan facility drops from 7% to 6.5% from 1 January 2016.

Bega Cheese Ltd (ASX: BGA) – up 4.55%

Bega Cheese shares flew higher today despite no company-specific news. Shares in the diversified dairy company have risen 55% in three months, coinciding with the surging demand for shares of infant formula makers. In October, Bega inked a deal with Blackmores Limited (ASX: BKL) to produce quality infant formula.

JB Hi-Fi Limited (ASX: JBH) – up 2.4%

In the three days of trading so far in 2016, the JB Hi-Fi share price has risen more than 8%. Coinciding with rival Dick Smith Holdings Ltd (ASX: DSH) entering administration yesterday, shares of fellow electronics retailers like JB Hi-Fi have risen strongly. JB Hi-Fi remains one of Australia’s premier retailers despite fears of digital disruption.

MNF Group Ltd (ASX: MNF) – up 4.23%

MNF Group, formally My Net Fone, rose strongly today despite a broader market selloff and falls in other telecommunications companies’ shares. The Voice over Internet Protocol (VoIP) specialist has seen its share price rise some 1,380% over the past five years.

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Motley Fool writer/analyst Owen Raszkiewicz has no position in any stocks mentioned.

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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