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.
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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 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.