Why these 6 ASX shares have stormed higher today

Mining giant BHP Billiton Limited (ASX:BHP) is one of 6 ASX shares storming higher today. Here's why…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday's disappointing decline and at lunch is higher by almost 0.4% to 5,781 points thanks largely to gains from the resources sector.

Six shares which have made notable gains today are shown below. Here's why they've stormed higher:

BHP Billiton Limited (ASX: BHP) shares have jumped almost 3.5% to $26.20 thanks to a jump in base metal prices overnight. According to CommSec the copper price rose 3% to US$5,736 a tonne on the London Metal Exchange after data revealed that Chinese producer prices surged 5.5% year on year. The iron ore price was also up 3% to US$80.10 a tonne.

Freelancer Ltd (ASX: FLN) shares have surged higher by 6% to $1.14. Today's gain means that the operator of the world's largest freelance and crowdsourcing marketplace has seen its share price rally a massive 14% so far this month, despite there being no news out of it. With its full year results due at the end of the month, it would appear as though some investors expect Freelancer to deliver a strong result.

Perseus Mining Limited (ASX: PRU) shares have risen 5% to 40 cents. Most of Australia's leading gold miners have risen today thanks largely to the gold price edging higher. Currently the spot gold price fetches US$1,187 an ounce, which is the highest level it has traded at since early in December. Metals X Limited (ASX: MLX) and Resolute Mining Limited (ASX: RSG) were the other standouts in the industry today.

Sirtex Medical Limited (ASX: SRX) shares have jumped over 4% to $15.76. The liver cancer treatment company's shares have bounced around this week following its dose sales update on Monday. That update revealed year-on-year dose sales growth of 5.6% for the first half of FY 2017. Although this hit the high end of its revised guidance for growth between 4% and 6%, it still falls well short of previous guidance of double-digit growth given in October.

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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »