The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has benefited from a strong international lead today in what looks set to become its first two-day rise for the year. The market itself is up 1.1% at 4919 points, but these four ASX shares are generating even greater gains.
BHP Billiton Limited (ASX: BHP) has risen a staggering $1.19 per share or 8.4%, adding billions of dollars onto the miner's market value. The company's London-listed shares jumped more than 10% overnight on improved investor optimism, together with a strong rebound in the oil price. It's been a horror run for BHP shareholders so far in 2016 so the gains are certainly welcome.
Santos Ltd (ASX: STO) is another oil producer that has been hit hard so far in 2016, although its shares have bounced 11.5% today. The company issued its fourth-quarter production report today in which the group's chairman said it "is well placed to withstand an extended period of low oil prices". The shares started the year at $3.68, but soon fell to a low of just $2.48 – their lowest price in more than a decade – and have since rebounded to $2.85.
Medibank Private Ltd (ASX: MPL) is one of the market's stand-out performers today. Its shares rose as much as 20.5% at one point to a new all-time high of $2.70 after the health insurance business upgraded its annual profit targets from "above $370 million" to "above $470 million" – a 27% guidance increase. The shares have since retreated to $2.49, up 11.2% for the day.
Treasury Wine Estates Ltd's (ASX: TWE) share price has lifted 14.6% to $9.05, which is also a fresh high for the group. The company said that based on its unaudited accounts, EBITS (earnings before interest, tax, and SGARA – or self-generating and regenerating assets) for the six-months ended 31 December would be in the range of $140 million to $150 million. That compares to analyst consensus of around $120 million.
