For seven successive sessions the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pushed higher. Today it is finishing the week with another solid performance, climbing by 0.4% to 5,433 at the time of writing.
Doing their fair share of the heavy lifting have been four shares in particular. Each has produced a strong finish to the week, much to the delight of their respective shareholders. Here’s why they climbed higher:
BlueScope Steel Limited (ASX: BSL) shares are up over 5% to $8.26 following the release of an earnings update late in the day yesterday. BlueScope reported that preliminary unaudited underlying EBIT for the year ended 30 June 2016 is expected to be around $570 million following a strong second half. Higher margins across its international businesses, as well as a turnaround in Asian steel prices were largely to thank for the strong result.
BlueScope Steel shares are up over 12% in the last two trading days.
Senetas Corporation Limited (ASX: SEN) shareholders will be smiling this weekend after its share price rocketed 33% higher to 12 cents. Today’s gain comes on the back of a positive update which revealed that it expects full year net profit before tax to be between $6.8 million and $7.1 million, beating its previous guidance by between 36% and 42%. The high assurance encryption hardware manufacturer will report its full year earnings on August 26.
Senetas shares are still down by 33% so far in 2016, despite today’s gains.
Structural Monitoring Systems plc (ASX: SMN) shares are higher by almost 6% to $1.89 after it announced a major update with one of the world’s leading aviation original equipment manufacturers. As well as this news the company reported that Boeing has approved its technology for the centre wing box application employed in its Delta/Boeing programme. This now allows all 737-NG operators worldwide to use its comparative vacuum monitoring sensors to replace existing ground-based, time intensive inspection protocols.
Structural Monitoring Systems shares are up over 435% in the last 12 months.
Whitehaven Coal Ltd (ASX: WHC) shares jumped nearly 13% higher to $1.66 after the coal miner reported record coal production for the 2016 financial year. The company revealed full year production was 20.5 million tonnes, which was a 30% increase on the previous year. The coal miner stated that it sold 20.1 million tonnes of coal in FY 2016, an increase of 44% year on year. Of these sales 84% was thermal coal and the remaining 16% was metallurgical coal.
Whitehaven Coal’s share price is up a massive 123% in the last three 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.