Here’s why these 4 ASX shares have surged higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it three days of declines in a row. In afternoon trade the benchmark index is down 0.5% to 5,807 points.

Not all shares have sunk lower today though. Four shares in particular have stood out with strong gains. Here’s why they have jumped higher:

The Brambles Limited (ASX: BXB) share price is up 6% to $10.19 after the supply-chain logistics company released its third-quarter update. Brambles reported better-than-expected sales revenue from continuing operations of US$4,091.0 million for the first nine months of the financial year. This is a 5% increase on the prior corresponding period in constant currency terms.

The Fortescue Metals Group Limited (ASX: FMG) share price has climbed 3.5% to $5.27 despite the iron ore price sliding lower again overnight. According to Metal Bulletin the spot price for the benchmark 62% fines fell 4.6% to US$63.20 a tonne. This has extended iron ore’s decline from its February high of US$94.86 a tonne to over 33%.

The TPG Telecom Ltd (ASX: TPM) share price has bounced back from yesterday’s sharp decline with a 4.5% gain to $5.75. A research note out of UBS may have been the catalyst for today’s jump. Its analysts upgraded the telco company to a buy rating with a $6.70 price target. I would have to agree with UBS on this one, TPG Telecom strikes me as a bargain at the current share price.

The Zelda Therapeutics Ltd (ASX: ZLD) share price has climbed 4% to 12.5 cents after the pot stock announced that it is extending its clinical trial in Chile. As well as insomnia and eczema, the company’s clinical trial will now include autism. Management expects the clinical trial to commence in the second half of the year. If successful the company could be generating revenue in South America as soon as 2018.

As well as TPG Telecom, I think these exciting shares are strong buys at today's prices. Are they in your portfolio?

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

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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.

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