In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued to push higher and finds itself up 0.6% to 6,085 points.
Four shares that are climbing more than most today are listed below. Here’s why these four shares are starting the week with a bang:
The Aumake International Ltd (ASX: AU8) share price is up 21% to 50 cents following the release of its quarterly update. According to the release, the daigou company delivered sales of $5.2 million during the quarter. This sales growth is likely to be given an additional boost over the coming months thanks to its plan to add 20 more retail stores to its network. I think AuMake is one to watch.
The AWE Limited (ASX: AWE) share price has jumped 16% to 98.7 cents after the energy producer revealed yet another takeover approach. Japan’s Mitsui has made a $602 million offer for Awe, equating to 95 cents per share. With its shares now priced above the offer price, it appears investors expect fellow suitor CERCG to come back with an improved offer.
The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has rocketed 31% to 17 cents after the dermatology company revealed positive results from its phase 1B acne treatment study. At one stage its shares had risen as much as 61% before fading. I think the results were very promising and make Botanix well worth a closer look. Especially given the bad reputation of current acne prescription drugs such as Roaccutane.
The Orocobre Limited (ASX: ORE) share price is up over 6% to $7.33. Investors have been fighting to get hold of the lithium miner’s shares after it revealed a $282 million strategic placement with Toyota subsidiary Toyota Tsusho at a price of $7.50 per share. These funds will be used to accelerate an increased Phase 2 expansion at its Olaroz lithium facility in Argentina.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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