Why these 4 ASX shares have started the week with gains

The ALS Ltd (ASX:ALQ) share price is one of four starting the week with 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 very disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). With almost every sector in the red, in afternoon trade the benchmark index is down 0.6% to 5,718 points.

Four shares which have defied the market and climbed higher today are listed below. Here's why they have started the week with gains:

The ALS Ltd (ASX: ALQ) share price has climbed 5% to $6.94. The testing services company's shares have been on a tear since it announced its full-year results. The result was so strong it led investment bank Citi to upgrade its shares from a sell rating to a buy with a $6.90 price target. After the strong rally, I think ALS shares are fully valued now.

The SMS Management & Technology Limited (ASX: SMX) share price has jumped up 4% to $1.76 after fellow IT services company ASG Group made a non-binding expression of interest valuing it at $1.80 in cash per share. Rival DWS Ltd (ASX: DWS) had hoped to acquire the company for the equivalent of $1.61 per share. I believe there is a reasonable chance DWS will come back with a better offer.

The Ten Network Holdings Limited (ASX: TEN) share price has bounced back from last week's heavy decline with a 13% gain to 19.2 cents. The media company's shares have been on a rollercoaster ride this year, ultimately falling a whopping 80%. The most recent decline is attributable to Lazard Asset Management Pacific Co selling down its substantial stake.

The Vita Group Limited (ASX: VTG) share price has surged 7% to $1.09 despite there being no news out of the retailer. Despite today's gain Vita's shares are still down a remarkable 65% year-to-date. Concerns over its future profitability following a decision by Telstra Corporation Ltd (ASX: TLS) to cut its remuneration by 30% over the next two and half years has weighed heavily on its shares. As cheap as it looks, there are still a lot of unknowns. This makes it one to avoid in my opinion.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Telstra Limited. 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 »