Why these 4 ASX shares are surging higher today

For a second day in a row the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is in the red. In early afternoon trade the benchmark index is lower by 0.5% to 5,317 points.

Despite this there have been four shares in particular which have surged higher today. Here’s why:

Catapult Group International Ltd (ASX: CAT) shares have jumped higher by 4% to $3.39 despite there being no news out of the sports analytics company. With Catapult deriving a significant portion of its revenue from the United States, the strengthening U.S. dollar is likely to benefit the company greatly moving forward. Because of this I think Catapult could prove to be a great buy and hold investment.

OceanaGold Corporation (ASX: OGC) shares are one of the best-performing gold miners today and are up by 7.5% to $3.56. The majority of the gold miners are posting solid gains today after the gold price halted its decline and appeared to find support at US$1,228 an ounce. But with an interest rate hike in December in the United States looking increasingly likely, it may not be long before prices start to drift lower again.

Premier Investments Limited (ASX: PMV) shares have jumped over 6% to $14.04 following news of two broker upgrades this morning. Although the upgrades were only to neutral ratings, the market has reacted positively to the change in sentiment. Whilst I am a huge fan of the owner and operator of the Smiggle and Peter Alexander brands, I would suggest investors hold off making an investment until it provides a trading update at its AGM at the start of next month.

Santos Ltd (ASX: STO) shares have risen 3% to $3.93 despite there being no news out of the oil and gas producer. Today’s increase is all the more surprising considering oil prices fell overnight to three-month lows on supply concerns. According to the Wall Street Journal, traders remain sceptical that a production cut from OPEC will go ahead later this year. If OPEC fails to cut production, I wouldn’t be surprised to see prices drift lower in 2017.

Missed out on gains today? Don't worry, these shares could be next in line to bolt higher in my opinion.

How 1 Man Made 100x His Money After 50

Few know, that as Warren Buffett blew out the candles on his 50th birthday cake, he had just 1% of his current fortune. Think about it: At an age when most give up hope, Buffett was just getting started on the remaining 99% of his fortune. Goes to show you that it's never too late for you to potentially get rich. Which is why we've gathered the strategies we learned from Buffett, distilled them down to 11 simple lessons, and put it in an exclusive report for you to claim. Just click here to learn more about this handy investing guide.

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.

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.