The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a solid start to the week and finds itself up 1% to 5,777 points in afternoon trade.
Four shares doing a lot of the heavy lifting are listed below. Here's why they have started the week with strong gains:
The Bellamy's Australia Ltd (ASX: BAL) share price is up almost 6% to $7.84 despite there being no news out of the infant formula company. This latest gain means its shares have now gained over 16% in the last 30 days and are higher than they were before the disastrous acquisition of Camperdown Powder. I'm still not convinced the drama is over and would suggest investors stay clear of Bellamy's.
The BlueScope Steel Limited (ASX: BSL) share price has climbed 5.5% to $14.10. Today's gain is likely to be attributable to a research note out of Ord Minnett which reveals that its analysts have upgraded the steel producer to an accumulate rating with a $15.00 price target.
The Mantra Group Ltd (ASX: MTR) share price is up 5% to $2.85 after the leading accommodation provider announced the $52.5 million acquisition of the Art Series hotel chain. According to management, the deal is expected to be immediately accretive to earnings. I think Mantra looks attractive at the current share price.
The Super Retail Group Ltd (ASX: SUL) share price is up 4% to $8.58. Although there was no news out of the retailer today, I believe this sizeable gain could relate to bargain hunters snapping up shares. After all, its shares are down 17% year-to-date and provide a generous trailing fully franked 5% dividend.