Here’s why these 4 ASX shares have rocketed higher today

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week strongly with a 0.7% gain to 5,356 points. The gain is thanks largely to a strong performance from resources shares due to an increase in energy and metals prices.

I have picked out four shares in particular which have performed incredibly well today. Here are the reasons why:

3P Learning Ltd (ASX: 3PL) has bounced back from last week’s heavy declines with a 5% rise to 72 cents. Last week shareholders of the cloud-based education software provider saw the value of their shares cut down by around a third following the release of a disappointing trading update. The update revealed that full year revenue growth is now expected to fall to between 7% and 9%. Revenue was up 25% in its half-year report, showing a rapid deceleration on top line growth in the second-half. With no news released to market today, it appears bargain hunters have been picking up shares believing the price to have found its bottom.

3P Learning’s share price is now down by around 64% so far in 2016.

BHP Billiton Limited (ASX: BHP) shareholders have seen the mining giant’s share price jump close to 4% to $19.20 thanks to a rise in energy prices. As well as the price of iron ore breaking through US$50 a tonne once again, there were strong rises in oil and copper prices also. BHP Billiton wasn’t alone in rising on the back of this news. Fellow miners Rio Tinto Limited (ASX: RIO), South32 Ltd (ASX: S32), and Fortescue Metals Group Limited (ASX: FMG) all put on strong gains for their respective shareholders today.

BHP Billiton has had a good three months, rising by over 9% during the period.

Liquefied Natural Gas Ltd (ASX: LNG) shares have been on a tear today, rising by almost 13% to 70 cents. Natural gas prices have continued to rise after the release late last week of U.S. inventory data showing that an increase in stockpiles was smaller than expected. According to the Wall Street Journal, natural gas inventories rose by 82 billion cubic feet last week, which was less than the 86 billion cubic feet injection that analysts had expected.

Liquefied Natural Gas shareholders are still nursing a paper loss of around 80% in the last 12 months despite today’s gain.

Newcrest Mining Limited (ASX: NCM) is another miner that has soared today, this time by over 11% to $22.05. Late on Friday night data came out in the United States showing that the US had added just 38,000 jobs to the economy in May. This was far lower than the 162,000 jobs economists were expecting and went some way to ruling out a US rate rise in June or July. Because of this the gold price has surged higher, bringing the share price of gold miners like Newcrest Mining, Resolute Mining Limited (ASX: RSG), OceanaGold Corporation (ASX: OGC), and St Barbara Ltd (ASX: SBM) with it.

Newcrest Mining shareholders are having a great year. Its share price has now rocketed by around 70% so far in 2016.

Finally, if 3PL Learning and resources shares aren't for you then I would recommend checking out these five fantastic shares. Each pays a solid dividend and I believe could provide share price gains for investors in the future.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of 3PLEARNING FPO. 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. I contribute to The Motley Fool as a freelance writer and the thoughts and opinions in this post are my own, not that of The Motley Fool’s.

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