The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a solid start to the week following the release of positive economic data out of the United States on Friday. In afternoon trade the index is up 0.8% to 6,011 points.
Four shares that have climbed more than most today are listed below. Here's why they are starting the week with a bang:
The A2 Milk Company Ltd (ASX: A2M) share price is up over 4% to $12.88 despite there being no news out of the fast-growing infant formula and dairy company. A broker note out of Citi last month revealed that its analysts had upgraded the price target on a2 Milk Company's shares to $14.00. This could be why its shares are still climbing after posting incredible gains in recent weeks.
The Avz Minerals Ltd (ASX: AVZ) share price is up 6% to 25 cents. This morning AVZ Minerals announced that it has signed a memorandum of understating (MOU) with Beijing National Battery Technology Co. for potential investment and off-take opportunities with the company. Last week a MOU was signed with Guangzhou Tinci Materials Technology Co. for the same reasons. Time will tell whether these eventually turn into fully fledged deals for the prospective lithium miner.
The BHP Billiton Limited (ASX: BHP) share price has pushed 2.5% higher to $29.00. With no news out of the mining giant today, I suspect bargain hunters may be swooping in after a spot of share price weakness recently. A lift in the oil price may also have helped.
The BlueScope Steel Limited (ASX: BSL) share price has risen over 3% to $15.82. Last week the steel producer was given a boost when President Trump advised that Australia would be exempt from his tariffs plans. In addition to this, a note out of Ord Minnett this morning reveals that its analysts have given BlueScope an accumulate rating with an $18.00 price target.
