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Why these 4 ASX shares started the week with a bang

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back strongly from its early decline and is up 0.4% to 5,810 points in afternoon trade.

Four shares that are climbing more than most are listed below. Here’s why they have started the week with a bang:

The Atlas Iron Limited (ASX: AGO) share price is up a massive 42% to 2.7 cents after announcing that it has entered into a binding scheme implementation deed with Mineral Resources Limited (ASX: MIN) in relation to a combination of the two companies. According to the release, Atlas shareholders will receive 1 new Mineral Resources share for every 571 Atlas shares held on the record date.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has climbed 6% to $6.04. Like Friday, Blue Sky’s shares were down sharply initially but have rebounded strongly. The market appears to have responded positively to a letter to shareholders released this morning and further insider buying from directors. According to the release, Elaine Stead picked up approximately $50,000 worth of shares on market on Friday.

The Fastbrick Robotics Ltd (ASX: FBR) share price has zoomed 14% higher to 16.5 cents after the robotics company updated the market on its Hadrian X bricklaying robot. According to the release, everything is going to plan and the company expects to be field testing the technology outdoors by the final quarter of 2018. That field test will see it build a 3-bedroom and 2-bathroom structure known as Build1.

The Macquarie Atlas Roads Limited (ASX: MQA) share price has climbed 4% to $5.87. This morning the toll road company announced plans to internalise management away from Macquarie. Part of the move will see the company drop the Macquarie name and rebrand as Atlas Arteria and change its ASX ticker code to ALX. This isn’t expected to occur until mid-2019.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Scott Phillips.

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