Why these 4 shares are rocketing higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) might be trading slightly higher, but these four shares have hit it out of the park today.

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Investors are enjoying another relatively calm session today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) managing to climb around 0.25% midway through the afternoon.

The energy sector has been helped by another rise in the oil price overnight, while investors in the gold sector continue to question whether its great run might have come to an end.

Four shares that are enjoying a particularly strong day, include:

Monadelphous Group Limited (ASX: MND)

Shares of the mining and infrastructure services company have rocketed up more than 6.5% today, despite the company not releasing any news to the market. It appears investors are betting on the idea that oil and commodity prices are poised for a sustained recovery which could create a significant amount of new work for the company. Today's large move is also probably as a result of some short covering, considering Monadelphous is the sixth most shorted stock on the ASX.

BT Investment Management Ltd (ASX: BTT)

After climbing as much as 10% yesterday, shares of BT have climbed another 2.7% today. The move comes on the back of a positive market update that showed a $4.3 billion increase in funds under management during the September quarter. While the increase in funds was certainly welcome news for investors, the update also highlighted the point that BT continues to track along nicely, even with the recent events that have occurred in Britain.

Beacon Lighting Group Ltd (ASX: BLX)

Shares of Beacon Lighting have surged 4.7% today on the back of a positive trading update provided at the company's annual general meeting (AGM). The company disappointed the market earlier in the year with weaker-than-expected sales growth, but first quarter FY2017 sales appear to be improving with the help of new store openings and positive same-store sales growth. Beacon Lighting also flagged its interest in a number of Masters sites.

South32 Ltd (ASX: S32)

South32 is the best performing major mining company today with a share price gain of more than 5%. The shares have now managed to climb around 192% since hitting their 52-week low of 87 cents in January this year. It has been a remarkable turnaround driven primarily by a rally in coal prices and management's determined focus on cost cutting. Whether the rally can be sustained is unclear, but it appears sentiment has certainly shifted across the broader resources sector.

Motley Fool contributor Christopher Georges owns shares of BT Investment Management Limited. 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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