Why these 4 ASX shares pushed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and climbed almost 0.6% higher to 5,854 points.

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

The Mayne Pharma Group Ltd (ASX: MYX) share price is up almost 3.5% to 67.7 cents. Investors may be a little more optimistic on the pharmaceutical company’s prospects after recent industry feedback indicated that price deflation in the generic drugs market had stabilised. Whilst I’m not a buyer just yet, I will be listening to what management has to say about the industry when it announces its half-year results on February 23.

The Nextdc Ltd (ASX: NXT) share price is higher by almost 3.5% to $6.20. Investors have been fighting to get hold of the data centre operator’s shares amid speculation that it could be a takeover target of Singapore-based investment company Temasek. I can’t say I’m surprised that Temasek might be interested in NEXTDC, I think it is one of the best growth shares on the ASX.

The Pilbara Minerals Ltd (ASX: PLS) share price has jumped 8% to 86 cents after the lithium miner revealed the results of a pre-feasibility study that was assessing the expansion of production at its flagship 100%-owned Pilgangoora Lithium-Tantalum Project. The study outlines a compelling business case for the expansion and estimates life-of-mine revenue of $11.5 billion and life-of-mine project EBITDA of $6.5 billion over an estimated 17-year mine life.

The St Barbara Ltd (ASX: SBM) share price has surged 5% higher to $3.84 following a rise in the gold price. The majority of Australia’s gold miners have pushed higher on Tuesday, leading to the gold index rising over 2% at lunch. At present the gold price is fetching US$1,323, up around US$7 on this time yesterday.

Finally, if you missed these gains then don't miss out on these top shares. I believe they could be next in line to push higher.

Top 3 ASX Blue Chips To Buy In 2018

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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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