The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday's decline and is up a strong 1.6% to 5,777 points.
Four shares have climbed more than most today are listed below. Here's why they are higher:
The Ardent Leisure Group (ASX: AAD) share price has jumped over 7% to $2.03. A number of beaten down shares have bounced back strongly today as bargain hunters swoop in. In other news, the Sun Hung Kai Global Opportunities Fund became a substantial shareholder today with a 5.3% stake in the company.
The Beach Energy Ltd (ASX: BPT) share price has climbed 3% to 60.7 cents thanks to a lift in oil prices. According to Reuters, the Brent crude oil price increased almost 2% overnight to US$49.68 a barrel after data revealed that U.S. output had diminished.
The Fastbrick Robotics Ltd (ASX: FBR) share price has jumped 9.5% to 13.7 cents. Investors have been snapping up shares in the company behind the Hadrian-X bricklaying robot after the company announced a partnership with global giant Caterpillar. The two parties will work together to establish how best to offer the technology to Caterpillar's construction customers. As I said earlier, while I feel it is too soon to invest in the company, I certainly think it is worth keeping a close eye on it.
The Westpac Banking Corp (ASX: WBC) share price is up 3% to $31.31. All of the big four banks have climbed higher today thanks partly to strong gains from U.S. banks overnight. Despite today's gain, I still see a lot of value in Westpac's shares. Especially for investors in search of market-beating dividends.
