Here’s why these 4 ASX shares are jumping today

It’s been a topsy-turvy day for Australian investors, who have watched the market rise, fall, and then rise again. It’s up 0.7% early in the afternoon however, and the optimism is spreading to most corners of the market. These four ASX shares are performing particularly strongly.

Credit Corp Group Limited (ASX: CCP) shares have risen 10.7% today to $10.97, but traded as high as $11.17 earlier. The receivables management group released its interim results today, reporting a 20% lift in revenue to $112.2 million and a 6% improvement in net profit after tax (NPAT) to $21.2 million. Better yet, it upgraded its outlook for growth in full-year NPAT from 15% to 17%.

Collection House Limited (ASX: CLH), Credit Corp’s rival, has also benefited from the announcement. Its shares have rallied 7%, bouncing off their recent lows to $1.605 per share. The company warned of slower growth late in 2015 while it also flagged fewer purchased debt ledger (PDL) acquisitions, reducing the loans it can actually collect on. Thankfully, the group’s CEO did note that PDL acquisitions for financial year 2016 (FY16) were tracking ahead in December.

Fortescue Metals Group Limited (ASX: FMG) has bounced 5.1% today, its shares now trading at $1.535. The shares hit an equal 52-week low of just $1.44 yesterday, but have risen as a result of a slight gain in the iron ore price overnight, combined with the release of a production report showing cash production costs (C1) of just US$15.80 per wet metric tonne in the December quarter.

Newcrest Mining Limited (ASX: NCM) also released its quarterly production report today, confirming it is on track to meet full-year production guidance despite a number of headwinds during the first half. Its shares are up 2.6% at $13.87, while its earnings results could benefit from a weaker Australian dollar and a stronger gold price since the beginning of the year.

Why These 3 Blue Chip Shares Look Set to Soar in 2016

Discover The Motley Fool's top 3 blue chips for 2016. These 3 'new breed' shares pay fully franked dividends AND offer the very real prospect of significant capital appreciation. Simply click here to gain access to this comprehensive FREE investment report.

No credit card required.

Motley Fool contributor Ryan Newman owns shares of Collection House Limited. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia owns shares of Collection House Limited. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.