Why these 4 ASX shares are surging higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the day with a strong gain thanks largely to the banking sector. In afternoon trade the benchmark index is up 1.1% to 5,934.1 points.

Four shares climbing more than most today are listed below. Here’s why they are surging higher:

The A2 Milk Company Ltd (ASX: A2M) share price is up 8% to $9.77 following the release of a trading update this morning. According to the release, revenue for the first quarter of FY 2019 has been consistent with expectations. Management advised that this reflects continued strong growth in infant formula and milk products. This appears to have quashed concerns that its performance was weakening in China.

The Appen Ltd (ASX: APX) share price has climbed 5% to $11.86 despite there being no news out of the tech company. But following a strong rise by the Nasdaq index on Wall Street overnight, many of Australia’s leading tech shares have rebounded strongly today. I think Appen’s shares are a great option for patient investors that are willing to hold onto them for the long term.

The Challenger Ltd (ASX: CGF) share price is up 4% to $11.15 after the annuities company released its latest assets and funds under management update. According to the release, total assets under management grew to $81 billion during the latest quarter and total funds under management increased by $300 million to $78.2 billion.

The Link Administration Holdings Ltd (ASX: LNK) share price has stormed 5.5% higher to $7.72. This morning the administration services company was the subject of a favourable broker note out of UBS. According to the note, the broker has upgraded its shares from neutral to a buy rating with an improved price target of $8.90. UBS sees value in its longer-term funds administration growth and also its options for capital management.

Missed these gains? Then don't miss these top shares that have been tipped as future market-beaters.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia owns shares of A2 Milk and Appen Ltd. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!