The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a reasonably solid start to the week. In afternoon trade the index is 0.2% higher to 5,739 points thanks largely to gains in the materials and telecommunications sectors.
Four shares which have made noticeably strong gains today are listed below. Here’s why they have started the week with a bang:
The Aconex Ltd (ASX: ACX) share price is up almost 7% to $3.79 despite there being no news out of the construction software company today. With its shares down 25% year-to-date, it appears as though investors may now see value in the exciting tech company. I think Aconex represents a fantastic buy and hold investment.
The iCar Asia Ltd (ASX: ICQ) share price has jumped 13% to 26 cents today. The automotive listings company’s shares have now risen over 40% since the release of its full-year results on February 23. Although it was far from an outstanding result, I felt it showed a lot of promise. Each of its key Asian markets saw a significant jump in audience levels.
The Fortescue Metals Group Limited (ASX: FMG) share price has jumped 2.5% to $6.43. Today’s gain is likely to be attributable to the iron ore giant being upgraded to an outperform rating by Credit Suisse. Although the broker expects iron ore prices to fall later this year, its analysts still believe that prices will remain above an average of US$90 a tonne for the first-half of the year. If this proves to be the case then Fortescue could be a great option for investors wanting exposure to the resources sector.
The Yowie Group Ltd (ASX: YOW) share price is up 4.5% to 46.5 cents after the confectionary company provided a positive market update. Management reaffirmed its revenue growth target for FY 2017 to be between 85% to 90% and advised of a slight gain in market share in the United States. Today’s gain is a welcome relief for shareholders. Yowie’s shares have been on a steep slide this year and are down around 27%.
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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.
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