Why these 4 shares are charging higher today

After two disappointing days, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has managed to stage a small turnaround today with a gain of 0.12% to 5,332 points.

The gold and energy sectors are the clear winners today, although the same can’t be said for the healthcare, consumer discretionary and materials sectors.

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

OFX Group Ltd (ASX: OFX)

After closing nearly 17% lower yesterday, shares of OFX have rebounded more than 7% today on the back of a broker upgrade. Macquarie has raised the shares from neutral to outperform, despite the company reporting weaker-than-expected first half results yesterday. Bargain hunters are also probably stepping up to the plate today considering the shares have fallen around 40% over a period of less than three months.


Autosports Group has enjoyed a nice debut today with its shares opening around 10% higher than their $2.40 offer price. The company owns a portfolio of prestige and luxury car dealerships across Sydney, Melbourne and Brisbane and also operates two specialist collision repair centres. According to its prospectus, the company is forecasting FY17 pro-forma revenue and profit growth of 14% and 39%, respectively.

Mantra Group Ltd (ASX: MTR)

Mantra shares are adding to yesterday’s solid gains with a 3.4% gain today. It appears the market is showing its approval for the appointment of Stephen Hobson as the company’s new chief financial officer (CFO). Mr Hobson has over 20 years of senior financial management experience and was responsible for implementing global business transformation strategies at InterContinental Hotels Group for more than a decade. While this may be a positive move for Mantra, the shares are still trading 36% below their 52-week highs.

Data#3 Limited (ASX: DTL)

Shares of Data#3 have surged nearly 7% after the information technology (IT) company re-affirmed its full year outlook at its AGM today. While IT markets remain competitive, Data#3 appears to be well on track to meet its guidance with first-half profit before tax (PBT) forecast to be in the range of $7 million to $8.5 million, up from $6.1 million in the prior corresponding period. The company also announced the appointment of Chief Executive Officer, Laurence Baynham, to the new position of Managing Director.

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Motley Fool contributor Christopher Georges owns shares of MANTRA GRP FPO and OzForex Group 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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