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

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week and is down 0.8% to 6,159.2 points in afternoon trade.

Four shares that have defied the market and climbed higher today are listed below. Here’s why they have started the week on a high:

The Amaysim Australia Ltd (ASX: AYS) share price has surged 5.5% higher to $1.08 despite there being no news out of the telco company. The Amaysim share price has now climbed over 9% since Wednesday of last week. Investors may believe its shares are in bargain territory after losing almost half of their value in 2018.

The Atlas Iron Limited (ASX: AGO) share price has zoomed 7% higher to 4.6 cents after the iron ore producer released a notice of variation of offer. According to the notice, Hancock Prospecting has lifted its offer price to 4.6 cents per share and extended the period under which the offer remains open for acceptance until October 12.

The Lynas Corporation Ltd (ASX: LYC) share price has bounced back from an horrific week with a solid 2.5% gain to $1.64. Last week the rare earths producer’s shares were crushed after reports claimed that Malaysian authorities were reviewing its operations in the country. This led to many investors fearing that regulators could shut down its Lynas Advanced Materials Plant (LAMP). Lynas’ LAMP is one of the largest and most modern rare earths separation plants in the world.

The Pilbara Minerals Ltd (ASX: PLS) share price was up almost 3% at one stage before giving back its early gains. At the time of writing the lithium miner’s shares are up 1% to 91 cents. This morning Pilbara Minerals advised that the loading of its maiden shipment of spodumene concentrate from the Pilgangoora Lithium-Tantalum Project in Western Australia commenced in Port Hedland on Sunday and is expected to depart shortly, bound for the company’s off-take partners in north Asia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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