MENU

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

It hasn’t been a great day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) once again. In afternoon trade the index is down around 0.4% to 5,512 points thanks largely to declines in the health care and financial sectors.

But as always there are a few shares which are defying the market and pushing higher. Not least these four shares which have put on strong gains for their respective shareholders today. Here they are:

Burson Group Ltd (ASX: BAP) shares have climbed 5.8% to $6.12 following the release of full year results that revealed a staggering 123% rise in statutory net profit after tax to $43.6 million. Further to this, the automotive parts supplier offered very positive guidance for the year ahead. Management expects strong profit growth of between 25% and 30% in 2017 due to cost savings, new stores, and a full year of trading from recent acquisitions.

Burson Group’s share price has now risen 45% so far in 2016.

Iress Ltd (ASX: IRE) shares rocketed higher by more than 9% to $11.67 after the fintech company reported operating revenues of $194.3 million and net profit of $32.7 million for the six-month period ending June 30 2016. Once again it was the company’s UK business which was the star of the show. Revenues from the UK grew by a fantastic 21% over the prior corresponding period.

Iress shares have risen 26% in the last six months.

Treasury Wine Estates Ltd (ASX: TWE) shares went ballistic this morning and are currently higher by 12.9% to $10.78. Today’s rise is the result of the global wine company reporting a very impressive 131% rise in full year statutory net profit after tax. With demand growing at a strong pace in Asia, I feel Treasury is likely to be one of Australia’s biggest winners from the growing middle class in the region.

Treasury Wine Estates’ share price has rocketed higher by 95% in the last 12 months.

Webjet Limited (ASX: WEB) shares are up a massive 19% to $9.57 after the online travel agency reported bumper full year results which saw revenue rise 30% to $154.5 million and net profit increase 27% to $22.2 million. As well as the impressive results, the market appears very happy with the news that the company has partnered with European travel company Thomas Cook. The agreement will see Thomas Cook transfer around 3,000 hotel contracts to Webjet’s Sunhotels.

Webjet’s share price is up a massive 74% in 2016.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bapcor. 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.

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.