In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to snap its losing streak and is 0.1% higher at 6,203.6 points.
Four shares which have climbed more than most today are listed below. Here's why they have stormed higher:
The AVZ Minerals Ltd (ASX: AVZ) share price has continued its recovery and is up a further 15% to 11.5 cents. The lithium focused mineral exploration company's shares have been on a tear since it revealed it has appointed someone to conduct a scoping study at its Manono lithium project in the Democratic Republic of Congo. I intend to stay away from AVZ Minerals as I'm not convinced that the project is viable.
The Cann Group Ltd (ASX: CAN) share price is up a further 8% to $3.24. Cann Group's shares have been on fire this week after it announced the signing of an agreement for the lease and build of its Stage 3 cultivation and GMP manufacturing facility near Melbourne Airport. According to the release, the total business case investment is estimated to be circa $100 million, which the cannabis company will use a combination of debt and equity to fund.
The NIB Holdings Limited (ASX: NHF) share price has stormed almost 7% higher to $5.87 after being the subject of a positive broker note. The private health insurer was upgraded to a buy rating from neutral by Deutsche Bank today with a price target of $6.55. The broker suspects that it could be benefitting from lower claims following recent trading updates in the hospital industry.
The Pro Medicus Limited (ASX: PME) share price has rocketed 13.5% higher to $8.03 after announcing a deal with Mercy Health for its Visage 7 technology. Mercy will standardise Visage 7 Open Archive across its diagnostic imaging business in a deal which is expected to be worth $15 million to Pro Medicus over a seven-year period. Management also advised that it is a transaction-based model with potential upside.
