It looks as though the market is going to finish the week off on a positive note, with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) managing to surge more than 1.1% today.
Every sector, except for gold, is in positive territory with the strongest gains coming from the consumer discretionary and energy sectors.
Four shares that have managed to post exceptionally strong gains today, include:
JB Hi-Fi Limited (ASX: JBH)
JB Hi-Fi shares have surged more than 6% today, with investors putting their support behind the company's $870 million acquisition of The Good Guys. The deal is expected to deliver synergies of between $15 million to $20 million and will instantly boost JB Hi-Fi's presence in the home appliance sector. Despite the potential for integration risks, analysts believe the improved buying power of the combined group will also help JB Hi-Fi to lift its market share.
Estia Health Ltd (ASX: EHE)
Shares of Estia Health have shot up by 5% today after the aged care services provider announced a change of CEO. Non-executive director, Nora Barlow, will step in as interim CEO following a string of management changes over the past month including the resignation of the company's founder and chief financial officer. Estia Health has been plagued with numerous issues since the start of the year and this has seen its share price fall by around 55%.
Mantra Group Ltd (ASX: MTR)
Shares of Mantra have surged more than 6.2% today, despite the company not releasing any news to the market. The shares have been on a one-way ticket down for most of the year, but it appears as though some investors may have regained confidence in the company, perhaps in the belief that the worst of the falls are over. Despite today's gains, shares of Mantra have still lost around 35% of their value since the start of the year.
Villa World Ltd (ASX: VLW)
Villa World shares have spiked more than 6.8% today after the home builder announced a $50 million joint venture with Greenfields Development Company. The project will include master planned communities and plans to build 1,500 properties on a 153 hectare site that will be 34 kilometres south of the Brisbane CBD. Villa World expects the joint venture to commence contributing to the company's profit in FY18.
