Why these 4 ASX shares jumped higher today

Credit: Matt Biddulph

As the week draws to a close the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set for a small decline with the index currently trading down 0.1% at 5271 points. This will mean that after a week of ups and downs the index is likely to finish flat for the week.

Although the overall market was down, a number of shares broke the mould and put on strong gains today. Four shares in particular had a great day, and here’s why:

Corporate Travel Management Ltd (ASX: CTD) shares have jumped 4.5% to $14.92 today in what could be a reaction to the presentation by Flight Centre Travel Group Ltd (ASX: FLT) at an investor conference today. Flight Centre’s management stated that further corporate acquisitions were likely, and this may have possibly stirred up thoughts of a takeover attempt in the future.

This brings Corporate Travel Management’s gains to a massive 42% in the last 12 months.

Eden Energy Ltd. (ASX: EDE) shareholders rejoiced today after a market update sent shares rocketing higher by almost 17% to 28 cents. The clean energy company announced that it has received its first commercial order for its EdenCrete concrete admixture for a new infrastructure project in Georgia, United States. The 7,250 metres squared facility is being constructed at an estimated total project cost of US$38,000,000.

This gain today brings the year-to-date return to a whopping 458%.

Smartgroup Corporation Ltd (ASX: SIQ) shares are on a tear once again, this time climbing by 8% to $5.42. The share price gains are related to a letter from Opposition Leader Bill Shorten to the National Automotive Leasing and Salary Packaging Association. The letter stated that a Shorten government wouldn’t make any changes to salary packaging or Fringe Benefits Tax measures which would otherwise have threatened the company’s existing business model.

Today’s gain now puts the shares into positive territory for the year by around 6%.

Super Retail Group Ltd (ASX: SUL) is another company spending a second day riding high on the ASX. Today it added almost 6% further and brought the share price up to $9.52. In a quarterly update released to the market yesterday the diversified retail giant reported a solid increase in like-for-like sales compared to the same period last year.

After suffering steep declines earlier in the year, these gains mean the share price is now down just 15% year-to-date.

If you missed out on these gains today, don’t despair. I believe this share might just be one to provide your portfolio with an added boost in the next 12 months.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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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