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

It has been a reasonably good start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). As we approach the close the benchmark index is higher by around 0.2% to 5,541 points despite strong declines in the materials sector.

Four shares which have been putting on particularly strong gains today are as follows:

Ansell Limited (ASX: ANN) shares have rocketed higher by 19% to $23.42 after delivering solid full year results all things considered. Despite the general weakening in the external economic environment and currency volatility, Ansell’s sales and earnings before interest and tax were down just 4%. In addition to this, management’s decision to look into selling its Sexual Health business appears to have been received well by the market. Its sale would complement its strategy of offloading non-core assets to strengthen its core businesses through value-enhancing acquisitions.

Ansell’s shares are now in positive territory in 2016 and up by over 6%.

JB Hi-Fi Limited (ASX: JBH) shares have jumped over 10% to $30.13 following the release of an impressive full-year earnings report. On the top line the retailer reported an 8.3% increase in sales to $3.95 billion, and on the bottom line it was even better with net profit after tax growing 11.5% to $152.2 million. So far in FY 2017 things have got off to a great start according to management. It revealed comparable sales growth for July was up 9.5% with total sales growth up 13.4%.

JB Hi-Fi’s share price has gained a massive 52% in 2016.

Mesoblast limited (ASX: MSB) shares are flying higher for a fifth consecutive trading day, this time by around 11% to $1.79. Investors continue to buy into the beaten down biotech company following news of positive results from a recent clinical trial for refractory rheumatoid arthritis. As promising as the results are, I personally feel it is far too soon to make an investment.

Mesoblast shares are up 52% in the last 5 days.

Orora Ltd (ASX: ORA) shares are up 9% to $3.02 today after the packaging company posted an impressive 23.8% increase in full year underlying net profit after tax. I was impressed to see the company produce such strong growth both at home and in North America despite subdued economic conditions. Even after today’s gains I feel there could be a good long-term investment opportunity in Orora.

Orora’s share price has climbed 34% in 2016.

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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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