MENU

Why these 4 ASX shares surged higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has built on yesterday’s gain and is up an impressive 0.8% to 6,087 points in afternoon trade.

Four shares which have climbed more than most today are listed below. Here’s why they have surged higher:

The GUD Holdings Limited (ASX: GUD) share price has climbed 6% to $12.99 a day after the release of its half-year results. Today’s gain may be related to a positive broker note out of the Macquarie equities desk which revealed that the broker has upgraded the retail conglomerate to an outperform rating with a $13.50 price target. The broker appears bullish on the company’s automotive segment.

The McPherson’s Ltd (ASX: MCP) share price is up almost 10% to $1.31 following the release of its preliminary half-year results. According to the release, management expects an interim underlying pre-tax profit of $11 million. Whilst this will be flat on the prior corresponding period, it is far better than previous guidance for a 10% to 15% decline in half-year profit.

The Wattle Health Australia Ltd (ASX: WHA) share price is over 8% higher to $2.45. This morning the infant formula and nutritional dairy product company advised that it has received its first order from the Macau market. The order is for the company’s entire dairy nutritional range. Management sees this as a way to expand its distribution footprint internationally and service the lucrative cross border market with China through another distribution channel.

The Xero Limited (ASX: XRO) share price is up 7.5% to $33.81 following reports that National Australia Bank Ltd. (ASX: NAB) will allow payments to be made from inside the accounting software. This will mean that NAB customers can pay an invoice inside Xero by just clicking a button. The deal appears to be a win for both companies in my opinion.

Missed these gains? Then don't miss these top shares which have been tipped to shine 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 has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited and Xero. 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.