The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and in afternoon trade is up 1.1% to 5,766 points.
Although a large majority of shares on the market have climbed higher today, four shares in particular have made notably strong gains. Here's why:
The Medical Developments International Ltd (ASX: MVP) share price has jumped 6% to $4.99 after the healthcare company announced that it has received another large order for its Penthrox pain management product in the United Kingdom. I've been very impressed with the way the company has grown the green whistle's presence around the world over the last 12 months. This is certainly a company on the rise in my opinion.
The St Barbara Ltd (ASX: SBM) share price is up almost 5% to $2.66. Today's gain appears to be a case of bargain hunters swooping in following a sell-off of the gold miners in the last few days. Prior to today the gold miners index had fallen over 8% in less than a week. But with rate rises potentially just around the corner in the United States, this is an area of the market I would approach with caution.
The South32 Ltd (ASX: S32) share price has rocketed a massive 10% to $2.74. With no news out of the mining giant, today's gain is likely to be attributable to news that Goldman Sachs has added its shares to its conviction buy list. A research note out of the bank reveals that its analysts think recent weakness in its share price has created a buying opportunity.
The Slater & Gordon Limited (ASX: SGH) share price has surged higher by 31% to 9.3 cent despite there being no news out of the embattled law firm. Prior to today Slater & Gordon's share price had fallen almost 70% year-to-date. As tempting as it may be to pick up shares close to its all-time low, I think the sensible thing to do is to give its shares a wide berth.
