MENU

Why these 4 ASX shares have started the week with a bang

It certainly has been a positive start to the week for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is up 1% to 5,721 points.

Four shares that have climbed more than most today are listed below. Here’s why they have started the week with a bang:

The Cann Group Ltd (ASX: CAN) share price is up 3.5% to $2.45 after the cannabis company announced that it has secured a Victorian government tender. According to the release, Cann will supply the Victorian Department of Health and Human Services with cannabis plant extract (resin). This cannabis resin will undergo further purification and processing into a Victorian Government medicinal cannabis product, which will be used to expand its compassionate access scheme for children with severe and intractable epilepsy.

The Mayne Pharma Group Ltd (ASX: MYX) share price has climbed 4.5% to $1.10. The catalyst for this gain is likely to be a positive broker note out of Credit Suisse this morning. According to the note, the broker has retained its outperform rating and lifted the price target on Mayne Pharma’s shares to $1.30.

The ResMed Inc (ASX: RMD) share price has continued its positive run and is up a further 3% to $14.68. The sleep treatment company’s shares raced higher on Friday following the release of a strong first quarter result. I think this result demonstrated why ResMed is a great buy and hold option for investors.

The Somnomed Limited (ASX: SOM) share price has rebounded 4.5% to $1.65. Unlike ResMed, this sleep treatment company released a disappointing first quarter result on Friday. Unsurprisingly, this led to its shares being heavily sold off. I suspect that investors believe the selling was overdone and has created a buying opportunity today. However, I would suggest investors stick with ResMed for exposure to the growing market.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

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

Including:

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!