The Motley Fool

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

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its strong morning gains but is still higher in afternoon trade. At the time of writing the index is up 0.1% to 5,835.9 points.

Four shares that have climbed more than most today are listed below. Here’s why they have started the month on a high:

The BHP Billiton Limited (ASX: BHP) share price has pushed 3% higher to $33.23 after the mining giant announced that it has completed the sale of its onshore shale assets. As a result, management has advised that it will conduct a US$10.4 billion shareholder return program. This will be achieved through the combination of an off-market buy-back and a special dividend.

The Credit Corp Group Limited (ASX: CCP) share price is up 5% to $20.00. This morning the debt collector lifted its guidance ahead of its annual general meeting. Credit Corp now intends to purchase $170 million to $190 million in debt over FY 2019, compared to its original guidance of $150 million to $170 million. This has led to management forecasting an FY 2019 profit of $19 million, which would represent growth of 18% on the prior corresponding period.

The Corporate Travel Management Ltd (ASX: CTD) share price has bounced 7.5% higher to $21.57. The short seller target was given a boost today when Morgan Stanley released a broker note confirming that it has retained its overweight rating and $35.00 price target on the corporate travel specialist’s shares. While I agree that it is a buy, I feel it might be best to let the dust settle before investing.

The NEXTDC Ltd (ASX: NXT) share price has jumped 6.5% higher to $6.25 despite there being no news out of the data centre operator. But with NEXTDC’s shares falling heavily in October along with the rest of the tech sector, I suspect bargain hunters have been swooping in today.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.


Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management 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.