Why these 4 ASX shares surged higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from a heavy decline this morning and is 0.2% higher at  5,882.7 points in afternoon trade.

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

The Freedom Foods Group Ltd (ASX: FNP) share price is up 4.5% to $5.40. This morning the diversified food company announced that it will establish a strategic partnership with Theland New Cloud Digimart Co. The partnership will see the two parties work together on the development of Freedom Foods’ Arnold’s Farm range of cereals and snacks in the China market. I think this is promising news and makes Freedom Foods worth a closer look.

The Kidman Resources Ltd (ASX: KDR) share price has continued its stellar run with a further 7.5% gain to $1.50. The lithium miner’s shares have now risen an incredible 45% since this time last week. The catalyst for this gain has been the signing of an offtake agreement with Japan’s Mitsui. This deal complements the company’s existing offtake agreement with electric car giant Tesla.

The Syrah Resources Ltd (ASX: SYR) share price has rocketed 11.5% higher to $1.99 after the graphite miner announced a binding term sales agreement with Qingdao Taida-Huarun New Energy Technology Co. Ltd. The agreement commences immediately and is for 20kt of natural graphite from Syrah’s Balama project in Mozambique by the end of August 2019. This equates to approximately a fifth of its production guidance for FY 2018.

The Worleyparsons Limited (ASX: WOR) share price has stormed 10.5% higher to $15.57 after the release of a series of announcements this morning from the engineering company. Worleyparsons provided the market with an update on its retail entitlement offer and advised that it has been awarded contracts by both Lundin Norway and Conoco Phillips.

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

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