It has been a good start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is up 0.8% to 5,772 points.
Four shares which have climbed more than most today are listed below. Here’s why they are starting the week with big gains:
The Altium Limited (ASX: ALU) share price is up 4% to $8.55 despite there being no news out of the printed circuit board software provider. Today’s gain means that its shares have now rebounded in full from last week’s decline following the market sell-off.
The Fortescue Metals Group Limited (ASX: FMG) share price has jumped 4.5% to $5.48 after the iron ore price climbed to a two-week high. Increasing steel output in China appears to have traders speculating that demand for iron ore will rise and offset the increased supply which is set to hit the market this year and next.
The Mitula Group Ltd (ASX: MUA) share price has climbed almost 5% to 88.5 cents after the online advertising company released a positive trading update. In the March quarter Mitula delivered a record $8.2 million in revenue, up 30.2% on the previous corresponding period. Impressive growth from this exciting small-cap share.
The Orocobre Limited (ASX: ORE) share price has surged 4.5% to $3.65. A big driver in the market’s gain today has been a rally in the materials sector. The lithium miners have been standouts, with the majority of the industry storming significantly higher.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium. 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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