The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) soared 2% higher this afternoon, following solid gains from international markets overnight.
However, shares of the following four companies were trouncing the market.
Liquefied Natural Gas Ltd (ASX: LNG) – up 12.7%
An overnight surge in oil prices appears to be the only explanation for the surge in the LNG Ltd share price. Indeed, LNG Ltd did not release any material news today, but is seeking to construct tolling and export facilities which turn natural gas into liquefied natural gas for loading on ships and exportation. However, its two primary facilities, one in Louisiana USA, and another in Nova Scotia Canada, are yet to be built and will cost billions to construct. Recent falls in oil prices potentially threaten the viability of the business. Hence, the LNG Ltd share price has fallen from a 52-week high of $5 to just 62 cents today.
BHP Billiton Limited (ASX: BHP) – up 5.44%
Despite no company-specific news, the 'big Australian' saw its share price rally more than 5% today. Presumably, rising oil prices were the catalyst. BHP shares have sunk more than 48% over the past 12 months on account of crumbling commodity prices. The swift fall in prices culminated with a massive write-down to the carrying value of BHP's US-based oil and gas assets.
Burson Group Ltd (ASX: BAP) – up 9.2%
Do-for-me automotive parts retailer, Burson, saw its share price fly higher today following the release of its first-half financial report. The company reported a 74% increase in revenue and a profit of $8.5 million, up 78% on the prior corresponding period. Burson's results were boosted by the acquisition of Metcash Limited's (ASX: MTS) automotive business, on July 1 2015. The acquired business includes the well-known do-it-yourself automotive parts business, Autobarn.
Slater & Gordon Limited (ASX: SGH) – up 15%
Slater & Gordon shares bounced more than 15% higher today despite no company-specific news. The Slater & Gordon share price has been on a roller-coaster ride over the past year, peaking at $8.07 before falling to just 70 cents today.
