The Motley Fool

Why these 4 ASX shares have rocketed higher today

After a strong start the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has unfortunately given back its early gains and finds itself down almost 0.1% to 5,757 points in afternoon trade.

Despite this drop there are four shares which have still managed to climb significantly higher during trade today. Here’s why:

Aconex Ltd (ASX: ACX) shares have rallied again, this time by a further 6% to $3.98. The software-as-a-service company’s shares have now climbed around 40% since hitting a low of $2.87 at the start of the month. Its shares may look expensive on paper at 71x estimated FY 2017’s earnings, but I believe the company has strong long-term growth prospects that could make it worthy of sticking with.

Nick Scali Limited (ASX: NCK) shares have climbed 11% to $7.12 after the furniture retailer smashed its guidance when it reported profit after tax growth of 44.7% to $20.5 million. A key highlight in my opinion was the company’s same store sales growth of 10.1%. Pleasingly, management advised that the second half has started just as strongly.

Paladin Energy Ltd (ASX: PDN) has surged higher by 6.5% to 16.5 cents. This brings the uranium producer’s year-to-date return to a staggering 91%. Uranium shares have been on fire this year as prices for the metal rally off their recent 12-year lows. The driver for this has been Japan’s plan to bring more nuclear reactors online and major uranium producer Kazatomprom cutting production by 10% this year.

South32 Ltd (ASX: S32) shares have jumped 5% to $2.69 despite there being no news out of the mining company. Today’s gain is likely to be attributable to further rises in commodity prices. Thanks to its diverse mining operations I believe that South32 is one of the better options in the mining sector for investors.

If you missed out on these gains I wouldn't worry. I believe this high-quality dividend share could provide solid share price gains in the next 12 months.

We’ve just released our #1 dividend pick for 2017. And the winner is...

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you… And all you have to do to discover the name, code and a full analysis is click the link below!

Simply click here to receive your copy of our brand-new FREE report, "The Motley Fool’s Top Dividend Stock for 2017."

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of ACONEX FPO. 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now