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Why these 4 ASX shares have started the week on a high

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week strongly and is up 0.3% to 6,061.5 points in afternoon trade.

Four shares that have climbed more than most today are listed below. Here’s why they have started the week on a high:

The Bubs Australia Ltd (ASX: BUB) share price has risen 7% to 91 cents. Investors have been fighting to get hold of the goat milk infant formula and baby food company’s shares after no less than three positive developments last week. This included a long-term supply agreement with a China-based supply chain and service provider New Times Asia, a merchant services agreement with Chinese e-commerce giant Alibaba, and a binding manufacturing agreement with CNCA-accredited infant formula producer Australia Deloraine Dairy. I think Bubs is deserving of a spot on your watchlist, but I wouldn’t be a buyer at this price.

The Catapult Group International Ltd (ASX: CAT) share price is up 3% to $1.24 following the release of a positive broker note out of Morgans. According to the note, the broker has retained its add rating and $1.76 price target on the wearables company’s shares after its received accreditation from FIFA. The broker believes this accreditation could make it easier for Catapult to initiate sales discussions with governing bodies and clubs.

The Danakali Ltd (ASX: DNK) share price has surged 8.5% higher to 71 cents after the potash, nickel, and gold explorer announced a binding take-or-pay offtake agreement with EuroChem Trading. According to the release, EuroChem will take, pay, market, and distribute up to 100% (minimum 87%) of the production from its Colluli Potash Project in Eritrea, East Africa. This project is a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation.

The Superloop Ltd (ASX: SLC) share price is up over 4% to $2.42 after the telecommunications infrastructure company announced the acquisition of the fibre broadband customer base operated on the nbn network by SkyMesh. The $1.5 million deal will add over 10,000 broadband subscribers to Superbb, the newly formed retail broadband division of Superloop.

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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 Catapult Group International Ltd. 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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