The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a reasonably positive start to the week and finished the day almost 0.1% higher at 6,345 points.
Four shares that climbed more than most today are listed below. Here's why they started the week on a high:
The Eclipx Group Ltd (ASX: ECX) share price has zoomed 16.5% higher to $2.49 after one of its rivals made an opportunistic takeover approach. Rival SG Fleet Group Ltd (ASX: SGF) made an offer on Sunday valuing Eclipx at $2.52 per share. The board quickly rejected the offer and rightly so in my opinion. Just one month ago Eclipx's shares were trading at $3.34, 32% higher than SG Fleet's offer.
The Hub24 Ltd (ASX: HUB) share price has jumped 9% higher to $13.02 following the release of its full-year results. The market appears to have responded positively to HUB24's underlying net profit after tax growth of 129% to $5.4 million and management's revised targets. It is now targeting funds under administration in the range of $19 billion to $23 billion by June 2021, more than double the current funds on its platform.
The OceanaGold Corp (ASX: OGC) share price has risen almost 3.5% to $3.95. As well as receiving a boost from a rebound in the gold price with the rest of the industry, OceanaGold was given an additional boost from the release of a positive broker note out of Macquarie. The broker retained its outperform rating and $6.00 price target after the miner's drill results suggested that its Haile operation could be expanded meaningfully.
The Superloop Ltd (ASX: SLC) share price surged 6% higher to $2.45 after the company swung from a $1.2 million loss to a reported net profit after tax of $7.1 million in FY 2018. A massive 109% increase in revenue to $125.2 million was driven by the impressive performance of its Superloop business. This business includes fixed line and fixed wireless connectivity solutions for wholesale and enterprise customers and the INDIGO project.
