Why these 4 ASX shares stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s heavy decline and is up 0.8% to 5,837 points in afternoon trade.

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

The A2 Milk Company Ltd (ASX: A2M) share price is up 5% to $13.08 despite there being no news out of the infant formula and dairy company. Investors appear to be swooping in to take advantage of a recent slide in its share price. While its shares are undeniably expensive right now, I think they could be good options for patient investors. But I wouldn’t expect them to replicate the gains they made last year any time soon.

The Catapult Group International Ltd (ASX: CAT) share price has returned to trade and climbed 2.5% higher to $1.21. Yesterday the sports analytics and wearables company announced a $25 million equity raising through a placement of shares with institutional investors. This has been completed successfully at $1.10 per share. The money raised will be used to fund its growth plans. The market appears pleased with this decision judging by today’s move higher.

The IOOF Holdings Limited (ASX: IFL) share price is up 3% to $10.28. This morning the financial services company’s shares were upgraded to a buy rating with an increased price target of $11.50 by UBS. The broker has made the move after IOOF’s share price dropped significantly following its acquisition of ANZ Wealth business late last year. The broker felt the sell off was unwarranted.

The Western Areas Ltd (ASX: WSA) share price has jumped 10.5% to $3.33 after the resources sector bounced back thanks to fears of a trade war subsiding. Today’s push higher could also be related to nickel futures ticking upwards or Morgan Stanley upgrading its nickel forecasts higher. The broker does, however, still think that Western Areas’ shares are overvalued.

Missed these gains? Then don't miss out on these top stocks which I think could be next in line to storm higher.

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 and has recommended Catapult Group International Ltd. The Motley Fool Australia owns shares of A2 Milk. 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 Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!