Why these 4 ASX shares stormed higher today

The Altium Limited (ASX:ALU) share price is one of four storming higher today. Here's why…

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing day amid rising tensions in North Korea. In afternoon trade the benchmark index is down 1% to 5,653 points.

Four shares which have managed to defy the market and climb higher today are listed below. Here's why they have posted strong gains:

The Altium Limited (ASX: ALU) share price has rocketed 11.5% to $9.47 following the release of its full-year results. After the market closed yesterday Altium announced an impressive full-year profit of US$28.1 million on revenues of US$110.87 million. Furthermore, it announced the acquisition of Canadian printed circuit board design business Upverter. Even after its strong gain this year, I still believe Altium is one of the best buy and hold investments on the ASX.

The Blackmores Limited (ASX: BKL) share price has jumped 7.5% to $97.95 despite the health supplements company posting a 42% drop in full-year profit. Investors appear to be pleased that after a strong second-half, management is confident that Blackmores will return to profit growth in FY 2018.

The Reliance Worldwide Corporation Aus P Ltd (ASX: RWC) share price has continued its post-earnings run and is up 3% to $3.77. On Monday the plumbing parts company posted a 26% increase in net profit after tax to $65.6 million. This clearly impressed the market and has led to its shares rising 14% week-to-date.

The Resolute Mining Limited (ASX: RSG) share price is up 6% to $1.12 after the gold price rose sharply after North Korea's most recent missile launch. At present the spot gold price is fetching US$1,316 an ounce, up almost 2% since this time yesterday. The majority of Australia's gold miners are higher on the news.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Blackmores Limited. 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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