The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finally broke through the 6,000 points mark in early afternoon trade. Although it has slipped a bit since, it is up 0.7% to 5,995 points at the time of writing.
Four shares doing a lot of the heavy lifting are listed below. Here's why they climbed higher:
The Beach Energy Ltd (ASX: BPT) share price is up almost 4% to $1.13. Almost all of Australia's leading energy producers have climbed higher today after oil prices raced to a two-year high. Although Beach Energy isn't my first choice in the industry, I do think it could be a good option for investors looking for exposure to the resources sector.
The Bubs Australia Ltd (ASX: BUB) share price has stormed 9% higher to $1.05 as traders continue to snap up the fledgling infant formula company's shares. Bubs' shares have now gained over 25% since this time last week following its decision to acquire NuLac Foods.
The Fortescue Metals Group Limited (ASX: FMG) share price has climbed almost 5% to $5.03 following a rise in the 58% fines iron ore price overnight. Earlier today I stated that Fortescue is an attractive option for investors at the share price at the time. I believe this remains the case even after today's gain.
The Mayne Pharma Group Ltd (ASX: MYX) share price has rebounded 4% higher to 63 cents despite there being no news out of the pharmaceutical company. However, the shares of global generic drugs giant Teva Pharmaceuticals rocketed higher overnight. This could have been the catalyst for today's gain.
