Here’s why these 4 ASX shares are soaring today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) once again looks like it’s going to finish the day lower. Currently the index is down 0.5% to 5,269 points, which brings its week-to-date decline to almost 3%.

But not all shares are finishing the week so poorly. In fact, the following four shares look set to send their respective shareholders into the weekend with a smile. Here’s why they are jumping higher today:

MG Unit Trust (ASX: MGC) shares are up over 7% to $1.14 following the release of its AGM presentation and speeches. Murray Goulburn has come under significant pressure this year due to lower milk intake and prices. But it would appear as though management has been able to convince investors that things will improve. With its shares down 54% this year, it’s about time too.

Medical Developments International Ltd (ASX: MVP) shares are up over 8% to $5.26 after the growing healthcare company announced a major new deal with CSIRO. The two companies aim to manufacture existing pharmaceutical products for a fraction of the price. According to CEO John Sharman if the partnership is successful the suite of manufacturing technologies created is expected to be extremely valuable. Yet another reason to consider an investment in my opinion.

PMP Limited (ASX: PMP) shares are up a massive 35% to 86 cents after the commercial printing company announced its plans to merge with privately owned IPMG Group. Not only does the deal look to be good value, but it could create a real force in the printing industry. The only negative if the deal goes ahead is that during the implementation period, the company will suspend its dividend and buybacks.

South32 Ltd (ASX: S32) shares have jumped over 4% to $2.50 despite there being no notable news out of the miner. In my opinion South32 represents one of the better investment options in the resources sector at this point in time. It has a diversified set of mining assets which I believe put it in a strong position for growth over the next 12 months.

Missed out on gains today? Don't worry, these rapidly growing shares could be next in line to rocket higher if you ask me.

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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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