In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded from yesterday’s heavy decline and is up 0.7% to 6,246.3 points.
Four shares that have climbed more than most on Wednesday are listed below. Here’s why they have surged higher:
The BHP Billiton Limited (ASX: BHP) share price has pushed over 3.5% higher to $33.70 following the release of the mining giant’s operational review for the 12 months ended June 30. The market appears to have been impressed with the update and how BHP met or exceeded full year production guidance for petroleum, copper, iron ore, and energy coal. It also met revised guidance for metallurgical coal. I believe this demonstrates why the miner is arguably the best resources share on the ASX.
The Mesoblast limited (ASX: MSB) share price has zoomed almost 11% higher to $1.77 after the innovative cell-based medicines developer announced that it has entered into a strategic alliance with China’s Tasly Pharmaceutical Group for its MPC-150-IM and MPC-25-IC product candidates in China. Tasly, one of China’s largest pharmaceutical companies, will receive exclusive rights and fund all development, manufacturing, and commercialisation activities in China for the product candidates.
The Technology One Limited (ASX: TNE) share price has continued its solid run and is up a further 6.5% to $5.05. The enterprise software company’s shares have risen over 15% in the last two days after announcing changes to its accounting policy for FY 2019. The adoption of these new accounting policies will make the reporting of its fast-growing SaaS business simpler.
The Yojee Ltd (ASX: YOJ) share price has raced 6% higher to 12.2 cents after the logistics and supply chain management platform provider announced a two-year agreement with Riverwood Pte Ltd to provide its logistics software. Riverwood is a Singapore-based provider of customised logistics solutions working with the likes of DHL, FedEx, SingPost, TNT, and Amazon in Singapore.
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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.