Here’s why these 4 ASX shares are soaring today

Credit: Matt Biddulph

After a fairly disappointing week, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to finish the week lower by around 1%. This comes despite the benchmark index being 0.4% higher today at 5,500 points.

Four shares which have been doing their bit today to help push the index higher are as follows:

AngloGold Ashanti Limited (CHESS) (ASX: AGG) is the pick of the gold miners today after jumping over 5% to $5.85. The majority of the gold miners are pushing higher ahead of the all-important US non-farm payrolls data release tonight. According to a poll by Thomson Reuters, many economists are expecting a disappointing result which could further dampen US rate hike hopes. Should this be the case there is a good chance the price of gold may climb a touch higher.

AngloGold Ashanti’s share price is up 220% in 2016.

Mantra Group Ltd (ASX: MTR) shares have had a rollercoaster of a week and are up over 6% to $3.53 today. Hot on the heels of a downgrade to a sell rating by global investment bank Deutsche Bank on Wednesday, today Mantra has been tipped by Morgan Stanley to outperform in the next two months according to a research note. It’s not alone in being bullish on the company with Moelis & Company placing a $4 price target on its shares.

Mantra Group’s share price is down by 30% in 2016.

SG Fleet Group Ltd (ASX: SGF) shares have continued to climb higher, this time by 4% to $4.28. The company’s share price has rocketed this week after it announced plans to acquire UK-based Fleet Hire for £19.6 million plus lease portfolio debt net of cash of £6.1 million. Management expects cash EPS accretion in its first full year of ownership of 4.5%, with further accretion in subsequent years.

SG Fleet’s share price has jumped over 17% in the last 30 days.

Surfstitch Group Ltd (ASX: SRF) shares have jumped over 5% to 20 cents despite there being no news out of the struggling online retailer. With its share price down by over 89% this year and some major changes happening recently in the c-suite, it appears some investors are betting on a turnaround coming. Well these bargain hunters won’t have to wait long. Surfstitch announced this week that it will report its full year results on August 30. I’m sure there will be a lot of interest in this one.

Suftstitch shares are down 11% in the last 30 days.

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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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