The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a positive start to the week and in afternoon trade is up 0.4% to 5,726 points
Four shares which have had an even better start to the week are listed below. Here’s why they have started the week with strong gains:
The Avz Minerals Ltd (ASX: AVZ) share price has continued its strong run, rising a further 28% to 7.8 cents. As I mentioned earlier, investors have been fighting to get hold of Avz Minerals shares due to the significant potential of its Manono lithium project in the Democratic Republic of Congo. I believe it is certainly worth keeping a very close eye on.
The Fortescue Metals Group Limited (ASX: FMG) share price is up 4% to $5.66 thanks to the iron ore price jumping to a four-month high. According to the Financial Times, Chinese futures have risen as much as 7% on Monday after Chinese data revealed that construction sector activity has climbed to the highest level in over three and a half years.
The Kogan.com Ltd (ASX: KGN) share price has climbed 4% to $2.50. Although there was no news out of the company today, investors appear to be reacting positively to an announcement made at the end of last week which revealed that Kogan will soon start offering insurance products. Whilst I still wouldn’t be a buyer of its shares, I do like the way Kogan has continued to diversify its offering this year.
The Zelda Therapeutics Ltd (ASX: ZLD) share price is up 3% to 7 cents after the medicinal cannabis company advised of an expansion to its breast cancer research collaboration. According to the release, following positive early data which showed that its formulations had anti-cancer effects across different breast cancer cell lines, Zelda and Complutense University have extended the research now to investigate the effect of cannabinoids on cancer stem cell-like cells.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
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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