In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high. At the time of writing the benchmark index is up 0.2% to 6,183.3 points.
Four shares climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Greencross Limited (ASX: GXL) share price has surged over 7% higher to $3.86 despite there being no news out of the integrated pet care company. However, with its shares hitting a 52-week low yesterday, I wouldn’t be surprised if today’s gain was due to bargain hunters swooping in.
The Orocobre Limited (ASX: ORE) share price has pushed 6% higher to $4.07. The majority of Australia’s lithium miners are on the rise again today as investors seize on recent share price weakness. The Orocobre share price has now risen over 13% in the space of just two days. However, it is worth noting that they are still down by almost a third over the last six months.
The Propertylink Group (ASX: PLG) share price is up 7.5% to $1.13 after it received a non-binding indicative proposal from ESR Real Estate. An offer of $1.15 cash per stapled security has been made by ESR, but management has advised securityholders to not take any action at this point. The offer is subject to a number of conditions, including Propertylink not proceeding with the proposal to acquire Centuria Industrial REIT (ASX: CIP). Its shares are down 3% on the news.
The Silver Lake Resources Limited (ASX: SLR) share price has jumped almost 8% to 56 cents after the gold price continued its recovery. The spot gold price is currently fetching US$1.209.10 an ounce, up around 1.5% since the start of the week. A weakening U.S. dollar has largely been behind the recovery in the gold price this week.
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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 Greencross 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.