It has been a volatile start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) with a number of ups and downs so far today. But in afternoon trade the benchmark index has pushed higher and is up 0.2% to 6,188 points.
Four shares that have climbed more than most today are listed below. Here's why they have started the week on a high:
The Bubs Australia Ltd (ASX: BUB) share price has risen 4% to 76.5 cents after the goat milk infant formula and baby food company announced its entry into the post-infant nutrition market with the launch of several new products. According to the release, the company has launched an innovative range of eight toddler snacks certified organic by Australian Certified Organic. These snacks will be ranged in Coles Group Ltd (ASX: COL) supermarkets nationally from May 2019.
The Buddy Platform Ltd (ASX: BUD) share price has rocketed 23% higher to 7.5 cents after the Internet of Things company provided an update on its debt financing and LIFX acquisition. According to the release, the company has entered into a term sheet with the LIFX majority seller to defer a portion of the cash consideration due to them in order to meet the requirement that the acquisition complete on or before March 29.
The Fluence Corporation Ltd (ASX: FLC) share price has pushed 3% higher to 37.5 cents after announcing the commercial launch of its SUBRE submerged membrane aerated biofilm reactor (MABR) solution. SUBRE is available in two configurations: as a retrofit upgrade and as a new greenfield plant. Management advised that it has already received orders for SUBRE from its Jamaican partner Engineering and Technology Associates, Inc.
The Fortescue Metals Group Limited (ASX: FMG) share price has climbed almost 4% to $6.73 after low grade iron ore prices surged to multi-year highs on Friday. According to Metal Bulletin, the price of 58% fines rose 1.5% to US$70.38 a tonne. This rally appears to have been caused by a decline in steel prices last week, leading to increased demand for the cheaper 58% fines from steel producers in order to support margins.
