The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is on course to start the week with a solid gain. In afternoon trade the benchmark index is up 0.5% to 6,094.8 points.
Four shares climbing more than most today are listed below. Here's why they have started the week on a high:
The Automotive Holdings Group Ltd (ASX: AHG) share price has bounced back from Friday's selloff with a 6% gain to $1.73. On Friday the company's share price sank lower after it announced a $226 million non-cash impairment of its businesses. Management advised that the impairment charges relate to the company's Franchised Automotive business and its Refrigerated Logistics business and reflect a more conservative view of its balance sheet given current market conditions.
The Bionomics Ltd (ASX: BNO) share price has rocketed 67% to 20 cents. This morning the biotechnology company announced a promising new development for its key BNC210 drug candidate. Further data analysis of its disappointing Phase 2 Post Traumatic Stress Disorder (PTSD) trial has shown the potential for significant patient benefit when the drug exposure is adequate.
The Breville Group Ltd (ASX: BRG) share price has continued its positive run and is up a further 5% to $14.74. Investors have been fighting to get hold of the appliance maker's shares since the release of a better than expected first half result last week. In the first half Breville posted a 19.7% increase in half year profit after tax to $43.5 million.
The GWA Group Ltd (ASX: GWA) share price has pushed 5% higher to $3.36 following the release of its half year results. Investors have responded positively to news that the supplier of building fixtures and fittings to households and commercial premises achieved a 7.3% increase in net profit from continuing operations excluding transaction costs in the first half.
