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

It has been a reasonably flat start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is up marginally to 5,723 points.

Four shares which have managed to outperform the market today are listed below. Here’s why they have started the week with strong gains:

The Blackmores Limited (ASX: BKL) share price has climbed almost 4% to $99.51 despite there being no news out of the health supplements company. But with its shares down 25% over the last 12 months, it is likely that bargain hunters are swooping in today.

The Beach Energy Ltd (ASX: BPT) share price is up 4% to 60 cents. This morning the oil and gas company announced the appointment of Dr Peter Moore as an independent non-executive director. Dr Moore is a geologist with over 35 years of oil and gas industry experience, including executive exploration appointments with oil and gas giant ExxonMobil.

The Fastbrick Robotics Ltd (ASX: FBR) share price has rocketed 16% to 12.2 cents after the robotics company announced a strategic alliance with US-giant Caterpillar Inc. The two companies plan to look into the commercialisation of Fastbrick Robotics’ exciting bricklaying technology. Whilst I think this is great news, I still feel it is a touch too soon to invest.

The Virgin Australia Holdings Ltd (ASX: VAH) share price is up 6% to 17 cents after the airline provided the market with a trading update. According to today’s release, initiatives taken to shore up its balance sheet and improve cash flows have progressed well. So much so the company expects to report a positive free cash flow performance for the 2017 financial year of up to $50 million. Further, Virgin Australia advised that its Velocity business has had a strong second-half.

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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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