Here’s why these 4 ASX shares are climbing higher today

It is looking like it’s going to be a disappointing finish to the week, with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down by 1% to 5,309 points in afternoon trading.

These declines are largely across the board, with only the utilities sector posting small gains today. If things stay the same way, the S&P/ASX 200 index will finish the week lower by around 0.2%.

Going against the grain and pushing higher today have been four shares in particular. Here’s why:

Idp Education Ltd (ASX: IEL) shares have rallied by around 3% to a 52-week high of $4.70 today following news that it had been included in the S&P/ASX All Australian 200 Index. As this article explains, shares will often rally when they are included in an index for various reasons such as being bought by index-tracking funds or coming onto the radar of the wider market. IDP Education is a Melbourne-based provider of international student placement services and operates English language schools in South East Asia. It grew half-year net profit after tax by over 19% thanks to strong demand for its services. I believe it is worth keeping a close eye on.

IDP Education shares have climbed almost 38% since listing on the ASX in November last year.

Seven West Media Ltd (ASX: SWM) shares have skyrocketed by 11% to $1.21 today despite no news being released to the market. Of all the media shares available on the ASX, I do think Seven West Media is one of the most attractive. At just 8x estimated FY 2016 earnings, its shares do look cheap. In addition to this, its $22 million investment for a 15% stake in the services marketplace of Airtasker is something that caught my eye. It has been estimated that Airtasker and rival Freelancer Ltd (ASX: FLN) have a total addressable market of $75 billion in gross payment volume. In a few years this could prove to be a smart and profitable investment.

Seven West Media shares are now up by a whopping 54% in 2016.

Virgin Australia Holdings Ltd (ASX: VAH) shares have rallied by almost 4% to 29 cents after it was announced that AIR N.Z. FPO NZ (ASX: AIZ) would divest 19.98% of its 26% stake to China’s Nanshan Group for 33 cents per share. Shareholders of both companies appear to be pleased with the news, with Air New Zealand shares also ticking higher today. Personally, I think it is unwise to make an investment in Virgin Australia purely on the back of this news. The airline industry is a very competitive industry which more often than not is a wealth destroyer for investors.

Virgin Australia’s share price is still down by over 36% so far in 2016.

Warrnambool Cheese & Butter Factory Co. (ASX: WCB) has climbed by 3% to $8.50 despite announcing its plans to raise $142 million through a new share offer at $6.75 per share. The market clearly sees value in the proposal which will be used to repay debt and strengthen its balance sheet so it can invest in strategic capital investment initiatives. These initiatives include a planned capital project to expand capacity to manufacture cheese and other dairy products. With dairy prices looking like they will remain weak for a while yet, I would avoid Warrnambool Cheese & Butter Factory Co. for the time being.

Finally, if you missed out on gains today then I would recommend taking a look at these five fantastic shares for next week. Each pay a strong dividend and I believe could provide share price gains in the months ahead.

Why retirees LOVE these 5 ASX stocks

Discover The Motley Fool's top 5 ASX dividend stock ideas for 2016 to get you started building a more diversified income portfolio that is paying you back! Click here to learn more.

The report is free! No credit card required.

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. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.