The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s decline and is up a strong 1.6% to 5,777 points.
Four shares have climbed more than most today are listed below. Here’s why they are higher:
The Ardent Leisure Group (ASX: AAD) share price has jumped over 7% to $2.03. A number of beaten down shares have bounced back strongly today as bargain hunters swoop in. In other news, the Sun Hung Kai Global Opportunities Fund became a substantial shareholder today with a 5.3% stake in the company.
The Beach Energy Ltd (ASX: BPT) share price has climbed 3% to 60.7 cents thanks to a lift in oil prices. According to Reuters, the Brent crude oil price increased almost 2% overnight to US$49.68 a barrel after data revealed that U.S. output had diminished.
The Fastbrick Robotics Ltd (ASX: FBR) share price has jumped 9.5% to 13.7 cents. Investors have been snapping up shares in the company behind the Hadrian-X bricklaying robot after the company announced a partnership with global giant Caterpillar. The two parties will work together to establish how best to offer the technology to Caterpillar’s construction customers. As I said earlier, while I feel it is too soon to invest in the company, I certainly think it is worth keeping a close eye on it.
The Westpac Banking Corp (ASX: WBC) share price is up 3% to $31.31. All of the big four banks have climbed higher today thanks partly to strong gains from U.S. banks overnight. Despite today’s gain, I still see a lot of value in Westpac’s shares. Especially for investors in search of market-beating dividends.
5 stocks under $5
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corp. 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.