The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its solid run and is almost 0.2% higher at 6,140 points in afternoon trade.
Four shares lifting more than most today are listed below. Here’s why they have stormed higher:
The Galaxy Resources Limited (ASX: GXY) share price is up 3.5% to $4.42. Once again the lithium miners are surging higher as investors continue to fight to get exposure to the boom being caused by ever-increasing demand for lithium from electric vehicle battery manufacturers. I expect Galaxy to next update the market on its recent quarterly production at the end of the month.
The Livetiles Ltd (ASX: LVT) share price has jumped 7% to 44.5 cents after announcing a strategic partnership with the Clean Energy Smart Manufacturing Innovation Institute. The partnership will focus on promoting efficiency, growth, and competitiveness in the US$2.2 trillion US manufacturing industry using LiveTiles’ artificial intelligence technology.
The Noni B Limited (ASX: NBL) share price is up 5% to $2.00 after the retailer provided the market with a trading update. According to the update, Noni B has had a strong first-half to the year and expects half-year EBITDA to increase 50% on the prior corresponding period. I’m a big fan of Noni B and think it is one of the best retail shares on the local market.
The Sims Metal Management Ltd (ASX: SGM) share price is 3% higher to $17.38. Today’s gain appears to be related to a positive note out of Goldman Sachs which revealed that the broker has reiterated its conviction buy rating and $17.74 target price on the scrap metal company. Goldman has taken this action after US data pointed to strong ferrous scrap metal exports.
Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia has recommended LIVETILES FPO. 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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