MENU

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

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a positive start to the week. In afternoon trade the benchmark index is up almost 0.4% to 6,187.4 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 Harvey Norman Holdings Limited (ASX: HVN) share price has pushed 2% higher to $3.51 after a change of director’s interest notice revealed that Gerry Harvey has been buying more of the retailer’s shares. Last week I wrote about how Mr Harvey had picked up almost $19 million of shares so far this month. This massive total has been added to with the purchase of a further $7.75 million worth of shares on Thursday and Friday of last week. It would seem that Mr Harvey feels that the company’s shares are in the bargain bin after recent declines.

The Metcash Limited (ASX: MTS) share price is up over 3% to $2.83. In recent weeks the wholesale distributor’s shares have been pushing higher and short interest has been on the decline as investor sentiment shifts positively. The catalyst for this is likely to have been its annual general meeting where management provided a reasonably positive outlook.

The Pilbara Minerals Ltd (ASX: PLS) share price has climbed 4% higher to 79.5 cents. This morning the lithium miner announced that it is on track for its first shipment of spodumene concentrate from its Pilgangoora lithium-tantalum project this month after making further strong progress with the production ramp-up. This means that it may not be long until Pilbara Minerals is generating meaningful revenues.

The TPG Telecom Ltd (ASX: TPM) share price has risen almost 3% to $8.63 ahead of the release of its full year results on Tuesday. Investors appears to be expecting the telco company to report a solid result and provide more good news relating to its proposed merger with Vodafone Australia.

OUR #1 dividend pick to grow your wealth now is revealed for FREE here!

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended TPG Telecom 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.