The S&P/ASX 200 (Index: ^AXJO) has had a solid day thanks largely to gains in the financial sector. In afternoon trade the benchmark index is up 0.7% to 5,728 points.
Four shares which have put on strong gains for their respective shareholders are listed below. Here's why they have stormed higher:
The Cimic Group Ltd (ASX: CIM) share price has climbed 5% to $40.65. Today's gain is likely to be attributable to a research note out of Macquarie this morning. Analysts at the bank reiterated their buy rating and placed a $42.10 price target on its shares following the release of a solid half-year result yesterday.
The Family Zone Cyber Safety Ltd (ASX: FZO) share price has jumped 8% to 47.5 cents. This morning the technology company announced a partnership with New Zealand-based online content filtering systems provider Linewize. The deal opens up Family Zone to the parents of 130,000 students using Linewize's systems, plus the broader New Zealand market for parental control software. As I said earlier this week, I think Family Zone is one to watch.
The Ruralco Holdings Ltd (ASX: RHL) share price is up almost 5% to $3.04 after the agribusiness company announced the launch of Australia's largest independent water market trading platform. According to the release, the online platform allows irrigators, governments and agri-corporates to trade a variety of water products in all the major trading zones throughout the country.
The Westpac Banking Corp (ASX: WBC) share price is higher by 3.5% to $31.85. This morning APRA announced the CET1 capital ratio required to meet their unquestionably strong benchmark. Australia's oldest bank believes it is well positioned to meet this new benchmark having proactively taken steps to boost its CET1 capital ratio. At present Westpac has a CET1 capital ratio of 10%, just a touch lower than APRA's target of 10.5% by 2020. Although it isn't as cheap as it was after recent gains, I still see further upside ahead for Westpac's shares.
