Why these 4 ASX shares have started the week with BIG gains

The Fortescue Metals Group Limited (ASX:FMG) share price is one of four starting the week with big gains. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »