It has been a positive start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is up 0.7% to 5,751 points.
Four shares which have had impressive starts to the week are listed below. Here's why they have started with a bang:
The Aconex Ltd (ASX: ACX) share price is up almost 6% to $4.30 despite there being no news out of the software-as-a-service company today. But as I said this morning, I think that with its short interest subsiding, now could be a great time to snap up shares.
The Mantra Group Ltd (ASX: MTR) share price has jumped 17% to $3.78 after the accommodation provider confirmed that it is the subject of a takeover approach. According to the release, hotel group Accor has tabled a cash offer of $3.96 per share. The deal is subject to a number of conditions and shareholders have been advised to take no action just yet.
The St Barbara Ltd (ASX: SBM) share price has climbed 3% to $2.68. St Barbara and the rest of Australia's gold miners are higher today due to the gold price rising strongly on Friday after Russian media outlets reported that North Korea plans to test a missile that could reach the United States. While this news could elevate the gold price in the short-term, I suspect in the long-term it will come under significant pressure as U.S. rates rise.
The Select Harvests Limited (ASX: SHV) share price has rocketed 23% to $5.17. This morning the almond producer revealed that it has rejected a $5.85 cash per share takeover offer from Mubadala Investment Company. Management believes the highly conditional proposal undervalued the company. As tempting as it may be to invest now, there's no guarantee that Mubadala will come back with a better offer.
