The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its good run and is up 0.3% to 5,891 points in early afternoon trade.
Four shares in particular have stood out with strong gains today. Here's why they have climbed higher:
The Beach Energy Ltd (ASX: BPT) share price has jumped 3% to 81 cents today. News that oil prices rallied to a three-week high overnight due partly to supply disruptions in Libya appear to be the reason behind the junior energy company's rise today.
The Myer Holdings Ltd (ASX: MYR) share price has climbed 2.5% to $1.22. I suspect today's rise could be a result of short sellers closing positions over fears that the department store operator could be a takeover target of Premier Investments Limited (ASX: PMV). The retailer recently made a strategic investment in Myer, but advised it does not currently intend to make a takeover offer.
The Navitas Limited (ASX: NVT) share price is up 3% to $4.34 after announcing an 8% jump in student enrolments for the first semester of 2017 across its University Partnerships Division. Whilst this is an impressive jump, I fear the recent loss of key contracts could potentially undo this strong growth.
The Virgin Australia Holdings Ltd (ASX: VAH) share price has jumped just under 3% to 19.5 cents after the airline unveiled its new Economy X service. The service will see Virgin offer domestic economy class passengers more legroom, priority boarding, and additional overhead locker space from May.
