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Why these 4 ASX shares are starting the week on a high

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is fading but is still on course to make a positive start to FY 2019. At the time of writing it is up 0.1% at 6,201.2 points.

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

The EBOS Group Ltd (ASX: EBO) share price has surged almost 5% higher to $17.67 after it announced that it has won the tender to act as the exclusive third party distributor of pharmaceutical products to more than 400 Chemist Warehouse and My Chemist stores in Australia. The five-year deal is expected to generate sales of approximately A$1 billion in the first year of the agreement.

The EML Payments Ltd (ASX: EML) share price has jumped 8% higher to $1.52 after entering into a multi-year agreement with UK-based GVC Holdings for the provision of branded reloadable cards for their European online gaming brands. No financial details have been provided, but management expects the gross debit volume to revenue conversion ratio to be materially in line with other reloadable card programs the group operates.

The Mitula Group Ltd (ASX: MUA) share price has pushed 3.5% higher to 74 cents after its takeover approach moved a step closer to completion. According to today’s release, the shareholders of LIFULL Co have met and approved the issue of shares to Mitula shareholders in connection to the proposed scheme of arrangement. The scheme remains subject to approval by Mitula shareholders, approval by the Supreme Court of Victoria, and other customary conditions.

The Yancoal Australia Ltd (ASX: YAL) share price has climbed 3.5% to 14.5 cents after the coal miner announced that it has applied for a dual listing on the Hong Kong Stock Exchange. Management advised that it has applied for the dual listing in the interests of increasing liquidity in its shares and to help further diversify its investor base. It also announced an impending capital raising, though no details were provided.

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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 Emerchants Limited. 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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