After a disappointing start to the day, the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has clawed its way back into positive territory and is up 0.1% to 5,714 points in afternoon trade.
Four shares which have done a lot of the heavy lifting are listed below. Here's why they jumped higher:
The G8 Education Ltd (ASX: GEM) share price has jumped 5% to $3.56 a day after the childcare operator held its annual general meeting. With many concerned that its occupancy levels could fall further, the lack of news in that regard yesterday appears to have been taken as a positive. Whilst I like G8 Education, it wouldn't be my first pick in the industry.
The Insurance Australia Group Ltd (ASX: IAG) share price has climbed 3% to $6.41 despite there being no news out of the insurer. Today's gain is likely to be attributable to a research note out of Credit Suisse which revealed that its analysts have upgraded the company's shares to an outperform rating with a $6.90 price target.
The Resolute Mining Limited (ASX: RSG) share price is up 3.5% to $1.16. The majority of Australia's gold miners have jumped higher today thanks to a rise in the gold price overnight. At present the spot gold price is fetching US$1,268 an ounce, up over 4% from its lowest level this month. But with the Fed expected to raise rates in the U.S. in a couple of weeks, these gains may be short-lived.
The Western Areas Ltd (ASX: WSA) share price has jumped almost 5% to $2.24 thanks to a rise in nickel prices. With its shares down sharply in the last few years, Western Areas could be a great option for investors looking for exposure to the resources sector if nickel prices continue to rise.
