MENU

Why these 4 ASX shares stormed higher today

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.

Missed these gains? Then don't miss out on these top growth shares in 2018.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.