It has been a reasonably positive start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has reversed its early decline and is up almost 0.1% to 5,770 points.
Four shares which have climbed more than most today are listed below. Here’s why they have started the week with solid gains:
The Beach Energy Ltd (ASX: BPT) share price has climbed almost 4% to 61.7 cents. Today’s gain is likely to be attributable to a firming of oil prices. Strong demand and a slowdown in U.S. oil production was largely behind the improvement in oil prices last week.
The Family Zone Cyber Safety Ltd (ASX: FZO) share price has jumped 15% to 46 cents after the technology company announced an agreement with Indonesian telecommunications company Telkomsel. The deal will see Family Zone enabling on-device and in-network technologies to launch its innovative parental control suite to Telkomsel’s 165 million subscribers. I believe the company is worth taking a closer look at.
The GetSwift Ltd (ASX: GSW) share price is up 7% to $1.12. Today’s gain is likely to be a delayed reaction to last week’s news that the company had reached the milestone of exceeding 250,000 deliveries per month through its platform. Despite the strong gain in its share price this year, I still believe this exciting tech company has significant upside potential.
The SKY and Space Global Ltd (ASX: SAS) share price is up 5% to 21 cents after the company advised that its 3 Diamonds nano-satellites have successfully completed inter-satellite links testing for data rates up to 2 Mega Symbols Per Second. The satellites are now ready for ground-to-space testing to begin in approximately two weeks, meaning they could be generating revenue in the very near future.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro owns shares of GetSwift Ltd. 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.