So far it has been a positive day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). At the time of writing the benchmark index is up almost 0.6% to 6,177.9 points.
Four shares that have climbed more than most today are listed below. Here’s why they are pushing higher:
The Macquarie Group Ltd (ASX: MQG) share price has pushed almost 2% higher to $124.72. This morning the global diversified financial group released a presentation and outlook update ahead of presenting at the CLSA Investors’ Forum in Hong Kong. Although Macquarie revealed that it has had a solid start to the year, it has retained its flat guidance for the year ahead. This guidance doesn’t factor in the potential sale of the Quadrant Energy business, though.
The Metro Mining Ltd (ASX: MMI) share price has surged over 8.5% higher to 19 cents. Prior to today the bauxite miner’s shares were within a whisker of their 52-week high and at a level which some investors appear to believe was attractive. Last week management advised that its Bauxite Hills production was on track to meet its 2018 calendar year guidance of 1.90-2.075M wet metric tonnes.
The Whitehaven Coal Ltd (ASX: WHC) share price has climbed 4.5% to $5.04 after the release of a favourable broker note out of Deutsche Bank. According to the note, the broker has upgraded the coal miner’s shares from a hold rating to a buy rating. Deutsche has also lifted the price target on Whitehaven’s shares to $5.70 from $5.40.
The WiseTech Global Ltd (ASX: WTC) share price has stormed almost 7% higher to $22.32 despite there being no news out of the logistics platform provider. WiseTech Global is just one of a number of tech shares that are storming higher today, possibly indicating that investors are swooping in to pick them up after recent declines.
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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 WiseTech Global. 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.