Why these 4 ASX shares are soaring today

It has been another great day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which has gained a further 1.2% today as we approach the market close. Whilst the industrials and utilities sectors have struggled, the financials and consumer staples sectors have stepped up and done a lot of the heavy lifting.

These four shares in particular had a strong day:

Bellamy’s Australia Ltd (ASX: BAL) shareholders will be delighted to see the share price up by almost 7% today. The rally appears to be related to the company’s announcement to the ASX which dismissed concerns over the recent regulatory changes in China. It turns out that all the panic over the changes may have been unnecessary and that the changes will actually be a big benefit to Bellamy’s as this great article explains.

BHP Billiton Limited (ASX: BHP) continues to climb higher and higher. The share price has risen by a further 5.2% today, meaning it is now up by almost 15% this week alone. As we discussed yesterday, the jump in both the oil and iron ore prices would appear to be the catalyst for this good run. Only time will tell whether this is a sign that the worst is now over, but things have started looking promising for shareholders.

GUD Holdings Limited (ASX: GUD) is another strong performer on the ASX today. Its share price has climbed by over 9% following an announcement that it has sold its remaining share in the Sunbeam business to Jarden Consumer Solutions. The deal means that GUD will receive approximately $35 million in cash and mark the end of its unsuccessful foray into small consumer appliances.

Whitehaven Coal Limited (ASX: WHC) has climbed by just under 9% today following an announcement of record high ROM coal production of 5.7Mt for the quarter ending in March. Additionally, coal sales of 5.5Mt for the quarter ending in March were up 48% on the same period last year. This will have delighted its shareholders who were no doubt concerned over the news that former US-based coal giant Peabody Energy has filed for bankruptcy protection.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bellamy's Australia. 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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