4 shares soaring on the ASX today

The S&P/ASX 200 (index: ^AXJO) (ASX: XJO) climbed above the 5,000 mark today, as heavyweight stocks on the ASX rallied hard. Pushed by the big four banks, energy shares and resources giants, the index closed at 5,021.20, a gain of 2%.

That follows a rally on global markets overnight, where the S&P 500 gained 2.4% and the Dow Jones added 2.1%.

Here are another 4 companies that posted big jumps in their share prices today…

Mesoblast limited (ASX: MSB) saw its share price rocket up 28% to $2.82 and is now up 142% in the past three weeks. The biotechnology company is perceived to have some very strong candidates of regenerative medicine drugs to become commercial products, suggesting the share price could be worth a lot more than today – but that’s only if things go to plan.

Worleyparsons Limited (ASX: WOR) share price jumped 17.4% to $5.05, despite no official news from the company. The company’s share price has now gained more than 35% in the past week, despite recently scrapping its dividend as profit crashed for the first half of the 2016 financial year. Most likely bargain hunters are moving into the energy and resources services company, which is trading on a P/E ratio of under 10x.  However, as other mining services companies have shown, their share prices and earnings can still fall further from here.

Beach Energy Ltd (ASX: BPT) saw its share price climb 11.3% to 64 cents, despite oil prices staying virtually flat overnight. Brent oil prices fell 0.5% to US$36.41 a barrel overnight. The company recently merged with Drillsearch Energy and today released its monthly drilling report that showed a number of promising results – hence the share price gains.

Retail Food Group Limited (ASX: RFG) saw its share price rise 9.5% to $4.86 after hitting 52-week lows under $4.00 in September 2015. Again, there was no official news from the company – but it could be investors who have finally realised Retail Food Group is cheap. Shares are still trading at a very cheap P/E ratio, and paying a fully franked dividend yield of around 5.4% – all for a company generating 15% growth in earnings per share.

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Motley Fool contributor Mike King has no position in any stocks mentioned. You can follow Mike on Twitter @TMFKinga

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 owns shares of Retail Food Group 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.

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