Following yesterday's market rout, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded strongly and in afternoon trade is higher by an incredible 2.6% to 5,293 points.
Although most of the market has jumped higher today, four shares in particular have caught my eye with extremely strong gains. Here they are:
Aconex Ltd (ASX: ACX) shares are up almost 13.2% to $5.93 today. As many believe Donald Trump will reignite the US economy through spending on major infrastructure projects, Aconex's popular cloud collaboration platform for the construction industry could see an uptick in demand. Furthermore, as around one-fifth of the company's revenue comes from the US, a rising dollar is likely to be a boost to top line growth.
BHP Billiton Limited (ASX: BHP) shares have increased an incredible 8% to $24.41 today. Commodity prices rocketed overnight as traders speculated that Trump's infrastructure plans would cause a surge in demand. This led iron ore prices to hit a 12-month high overnight. Fellow miner Fortescue Metals Group Limited (ASX: FMG) has also rocketed on the news.
Computershare Limited (ASX: CPU) shares are up almost 11% to $11.33. As well as getting a lift from the rebound today, Computershare also received buy recommendations from analysts at Citi and Credit Suisse this morning. According to research notes out of the investment banks, their analysts believe the cost cutting the company has undertaken will help it grow earnings at a stronger-than-expected rate.
QBE Insurance Group Ltd (ASX: QBE) shares are higher by 9% to $10.22 after bond yields widened in the United States. As a conservative institutional investor, QBE Insurance has struggled in recent times due to having billions of dollars invested in bonds with dwindling yields. But as low interest rates in the US look likely to end under a Trump administration, bond yields have started to increase. Much to the relief of long-suffering QBE shareholders.
