The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has responded to yesterday's sharp decline with a solid gain today. In afternoon trade the benchmark index is up 0.2% to 5,696 points.
Four shares which have made notably strong gains today are listed below. Here's why they have soared:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has jumped 3.5% to a new all-time high of $3.64 today despite there being no news out of the fast-growing dairy company. Investors have been fighting to get hold of shares this week following news that China has delayed its new cross border e-commerce laws indefinitely.
The Sigma Pharmaceutical Limited (ASX: SIP) share price is up 3% to $1.23 following the release of a solid full-year result. The company reported a 13% jump in underlying net profit after tax to $66.9 million. At just over 19x underlying earnings and providing a fully franked 4.4% dividend, I think Sigma could be worth a closer look.
The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has climbed 3.5% to $17.33 following the release of its half-year report. Thanks to a number of successful investments the conglomerate reported a 61% rise in revenue to $438 million and a 68% jump in profit to $139 million. A solid result from a high-quality company.
The Zelda Therapeutics Ltd (ASX: ZLD) share price is up 2.5% to 8.4 cents after the medical marijuana company announced that it will conduct clinical trials in Chile in the second-half of 2017. These trials will focus on insomnia and eczema treatments. The two markets combined were estimated to be worth $8 billion in sales last year.
