The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has recovered well from a very poor start and in afternoon trade sits higher by 0.4% to 5,864 points.
Five shares which have made notably strong gains today are listed below. Here's why they have surged higher:
The Afterpay Holdings Ltd (ASX: AFY) share price is up 3.5% to $2.63 after the payments company announced that a number of retail brands owned and operated by Premier Investments Limited (ASX: PMV) had signed up to use its services. I believe this is a big win for the company and cements its position as the leader in the buy now, pay later space.
The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is up 4.5% to $12.34 today. The market appears to believe that the latest Budget has been a big win for the regional banks at the expense of the Big Four banks. The Bank of Queensland Limited (ASX: BOQ) share price is also up sharply on the news.
The Cimic Group Ltd (ASX: CIM) share price has jumped 4% to a new 52-week high of $40.28 today. The leading construction company's shares were given a lift this morning after it announced that its UGL business had been awarded a $117 million contract to design and build two new solar farms.
The Cleanaway Waste Management Ltd (ASX: CWY) share price has climbed 5.5% to $1.38 despite there being no news out of the waste management company. Today's gain means that its shares have now rocketed over 68% since this time last year following an impressive turnaround after a couple of years of struggles.
