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Why these 4 ASX shares pushed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it two consecutive days of solid gains. In afternoon trade the benchmark index is up 0.5% higher at 6,073 points.

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

The BlueScope Steel Limited (ASX: BSL) share price is up 3.5% to $16.39. Today’s gain is likely to be attributable to a broker note out of Citi following yesterday’s strong half-year result. The broker has retained its buy rating and increased its price target on the steel producer’s shares to $18.60. I think BlueScope is a good option in the materials sector.

The Caltex Australia Limited (ASX: CTX) share price is up 5% to $36.66 following the release of the fuel supplier’s full year results. Caltex reported that its replacement cost operating profit was up 18% to $621 million for the year, just ahead of its FY 2017 profit guidance of $600 million to $620 million. Management also advised that it plans to close its retail franchises by mid-2020 and move those sites into the company’s operations.

The Costa Group Holdings Ltd (ASX: CGC) share price has surged 10% higher to $6.86. This morning the horticulture company reported first-half net profit after tax before self-generating and regenerating assets of $28.6 million, up 14.5% on the prior corresponding period. Thanks to a strong start to the second-half, management has upgraded its full-year profit guidance from “at least 20% growth” to 25% growth.

The Creso Pharma Ltd (ASX: CPH) share price is 6% higher to 93.5 cents after the cannabis company advised that it will launch its cannaQIX human health product in Switzerland and Liechtenstein in March 2018. The cannaQIX product is the first standardised nutraceutical containing organic hemp extract with cannabidiol, vitamins, and zinc aiming to reduce stress and support mental and nervous system functions.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP 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.

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