After a terrible start to the month, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has finally managed to put some runs on the board this afternoon with a rise of 0.1% to 5,224 points.
The healthcare and telecommunication sectors are performing strongly today, although the same can't be said for the utilities and consumer discretionary sectors.
Four shares that are getting especially strong investor support today, include:
Mayne Pharma Group Ltd (ASX: MYX)
After trading in an unrelenting downtrend for the past five weeks, shares of Mayne Pharma are finally rebounding today with a gain of 8.2% to $1.71. It appears buyers have finally been pushed into action after the generic drug company announced that it has launched a generic morphine drug formulation into the US market. Adding to the positive investor sentiment today was a note from Credit Suisse that suggested Mayne Pharma could become a future 'market darling'.
BT Investment Management Ltd (ASX: BTT)
Shares of BT Investment Management have risen nearly 5% today after the fund manager released its fourth consecutive record full year profit result. Despite having to contend with subdued global equity markets, the company was still able to increase cash earnings per share by 15% and its full year dividend by 14%. Along with the improved result, investors will undoubtedly be happy with the strong start to FY17, with record funds under management and inflows of $2 billion already funded.
Credit Corp Group Limited (ASX: CCP)
Shares of Credit Corp have spiked around 4% after the debt collection firm upgraded its FY17 guidance at its AGM today. The company now expects to generate net profit after tax (NPAT) of $53 million to $55 million, up from its earlier guidance of $52 million to $54 million. If achieved, this would represent profit growth of between 15% – 20% from FY16. Amazingly, Credit Corp shares have more than doubled over the past 12 months, making it one of the best performing industrial shares on the ASX.
XERO FPO NZX (ASX: XRO)
Shares of Xero have climbed 3.5% today after revealing an impressive surge in first half subscriber numbers. Although the accounting software company still posted a fairly sizeable loss, investors are clearly pleased with the 45% increase in subscriber numbers to 862,000. Xero has also maintained a healthy cash balance of NZ$137.9 million which should allow it to comfortably develop its innovation pipeline and enhance its customer offering.
