In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has put its recent declines behind it and pushed higher by 0.3% to 5,742 points.
Four shares which have climbed more than most today are listed below. Here's why they have stormed higher:
The Bubs Australia Ltd (ASX: BUB) share price has rocketed almost 19% to 95 cents despite there being no news out of the company. Investors have been fighting to get hold of the infant formula and baby food company's shares in the last few months after it revealed key supply agreements in China. While I think Bubs could have an extremely bright future, its shares do look very expensive now.
The BlueScope Steel Limited (ASX: BSL) share price has bounced back from yesterday's heavy decline and is up almost 5% to $11.55. The steel producer's shares fell over 20% yesterday following the release of its full-year results. Those results revealed that higher-than-expected energy costs undermined recent cost and productivity improvements.
The Monadelphous Group Limited (ASX: MND) share price is up 5% to $14.45 after the mining services company reported its full-year results. Although Monadelphous posted a 14% drop in net profit after tax, investors appear to be pleased with management's positive outlook. Whilst I think the tide may be turning, at 23x earnings I think its shares are overvalued.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has climbed 3.5% to $7.09 after posting a 4.4% increase in half-year profit after tax to $166.6 million thanks largely to an increase in international passenger numbers. This allowed Sydney Airport to upgrade its full-year distribution guidance to 34.5 cents per share.
