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.
