The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to put yesterday's decline behind it and is higher by 0.3% to 5,961 points in afternoon trade.
Four shares climbing more than most today are listed below. Here's why they have stormed higher:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price is up 5% to $7.42 following the release of a trading update at its annual general meeting. For the first four months of FY 2018 a2 Milk has delivered an impressive 68.9% increase in revenue on the prior corresponding period. This growth appears to have convinced the market that it deserves to trade at a premium.
The Bellamy's Australia Ltd (ASX: BAL) share price has followed a2 Milk higher and is up almost 5% to $11.76. Investors appear to believe that the infant formula company will also be a big winner from the growing demand for Australian/New Zealand infant formula from Chinese consumers.
The Monadelphous Group Limited (ASX: MND) share price has climbed 3.5% to $18.43 after the mining services company released its annual general meeting presentation. According to the release, a surge in activity is expected to deliver half-year sales revenue growth of over 30% on the prior corresponding period. This is, however, expected to moderate in the second-half of FY 2018.
The Swift Networks Group Ltd (ASX: SW1) share price is up almost 6% to 45 cents after it won three major lithium miner contracts to provide telco services and entertainment content. According to the release, Swift will provide a broad suite of world-class content and connectivity to up to 825 end users at new and existing camps in Western Australia for initial periods of up to three years. I think Swift will be one to watch in 2018.
