Why these 4 ASX shares are ending the week with a BANG

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it four days of declines in a row. In afternoon trade the index is down 0.6% to 5,840 points.

But not all shares have fallen lower today. These four shares have managed to defy the market and finish the week with a bang:

The Auscann Group Holdings Ltd (ASX: AC8) share price has jumped 16% to 67.5 cents today after the pot stock announced that it had been granted a licence to cultivate medicinal cannabis in Australia. I feel this latest development puts it in a great position to deliver on its aim of becoming a leading producer and supplier of high quality medicinal cannabis to Australian patients.

The CANN GROUP FPO (ASX: CAN) share price has continued to climb higher, this time by 15% to 74 cents. Since debuting on the ASX yesterday, the medicinal cannabis producer’s shares have climbed an incredible 146%. Investors appear to be attracted to its experienced board and management team which include former Nufarm, Graincorp, and Incitec Pivot senior staff. Cann Group holds a licence to both research and cultivate medicinal cannabis in Australia. It could be one to watch.

The Macquarie Group Ltd (ASX: MQG) share price is up 3.5% to $95.12 after the investment bank reported its full-year results. Overall I felt Macquarie performed incredibly well during the year and can’t say I’m surprised to see its shares touch on all-time highs today. A particular highlight was its 7.5% jump in full-year net profit.

The Telstra Corporation Ltd (ASX: TLS) share price has jumped 4% to $4.40 following the ACCC’s decision not to declare mobile roaming. This review was in response to calls for open access to Telstra’s extensive mobile network, which would have reduced its competitive advantage. Even after today’s gain I still rate Telstra as a buy.

If you missed out on gains today don't worry. I think these high-flying blue-chip shares could be next in line for big gains.

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.

Click here to claim your free report.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Telstra Limited. 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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