Although it has given back some of its early gains, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is higher by 0.1% to 5,668 points.
Four shares which have posted strong gains today are listed below. Here's why they are climbing higher:
The Gentrack Group Ltd (ASX: GTK) share price has climbed almost 8% to $4.77 following the release of a trading update. According to the release, management expects to report full-year underlying EBITDA of NZ$24 million in FY 2017. This will be NZ$4 million higher than its previous guidance on 25 May 2017 and a significant increase on the NZ$16.7 million it delivered in FY 2016.
The SYNLAIT FPO NZX (ASX: SM1) share price is up 7% to $5.76 after the dairy processing company announced that it has received CFDA registration for a2 Milk Company Ltd (Australia) (ASX:A2M) infant formula. This means that the latter's infant formula products will continue being sold in China from January 1 2018.
The Wattle Health Australia Ltd (ASX: WHA) share price has jumped 8% to 84 cents after the food company announced the completion of its acquisition of infant formula blender and packer Blend and Pack. In light of this, Wattle Health has now applied for its CFDA registration. While it is too soon for an investment for me, I do think it is one to watch.
The XERO FPO NZX (ASX: XRO) share price is up 4% to $27.86 despite there being no news out of the accounting software provider. This latest gain means that the New Zealand-based tech company's shares have gained over 63% year-to-date. I think it could still be a good buy and hold option for investors despite this strong gain.