The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from a weak start and is now up a solid 0.2% to 5,890 points in afternoon trade.
Four shares that have climbed more than most today are listed below. Here's why they have posted strong gains:
The AMP Limited (ASX: AMP) share price is up 3.5% to $5.21 after the financial services company reported its half-year result. According to the release, underlying group profit increased 114% on the prior corresponding period to $1.04 billion. The main driver of this growth was the return to profit of its Australian wealth protection business. This managed to offset a 2.5% decline in profit from its Australian wealth management business.
The Carnegie Clean Energy Ltd (ASX: CCE) share price has climbed 11% to 4 cents. This morning the clean energy company advised that its subsidiary's joint venture with Lendlease Group (ASX: LLC) has been awarded a $6.8 million contract for the supply, delivery and installation of a 5MW Battery Energy Storage System facility located in Kalbarri for Western Power.
The National Australia Bank Ltd (ASX: NAB) share price is up 2.5% to $28.94 after the banking giant released its quarterly update. That release revealed that NAB's December quarterly cash earnings improved 3% over the prior corresponding period to $1.65 billion as revenue increased by 1%. Whilst I felt this was a reasonably unspectacular result from the bank, I think its shares are quite attractive at the current share price.
The SG Fleet Group Ltd (ASX: SGF) share price has jumped almost 8% to $4.30 despite there being no news out of the fleet management company. Investors appear to believe that its shares have fallen into bargain territory after they fell over 10% from their January high. They could be onto something, Citi slapped a buy rating and $4.85 price target on its shares in December.
