It has been a positive day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is up almost 0.5% to 6,189.8 points.
Four shares that have climbed more than most today are listed below. Here's why they have stormed higher:
The BHP Billiton Limited (ASX: BHP) share price has climbed 3% to $32.38 after a solid rise in base metal prices. According to Metal Bulletin, the base metals complex shrugged off the escalating US-China trade dispute and pushed higher on the London Metals Exchange. The copper price was a strong performer and closed 2% higher at US$6,086 per tonne.
The Costa Group Holdings Ltd (ASX: CGC) share price has pushed over 4% higher to $6.82 after the release of a positive broker note out of UBS. According to the note, the broker has upgraded Costa Group's shares to a buy rating from neutral with a price target of $8.20. UBS made the move largely on valuation grounds after a meaningful pullback in the Costa Group share price since its disappointing earnings release last month. I think Costa is well worth a closer look.
The Gascoyne Resources Ltd (ASX: GCY) share price has rocketed 20% higher to 30 cents after the gold exploration company provided an update on its drilling at the Tanqueray prospect. According to the release, the drilling intersected ultra-high grade gold mineralisation. The mineralisation contained very coarse visible gold within a quartz rich clay zone. The company is now planning follow-up drilling.
The Liquefied Natural Gas Ltd (ASX: LNG) share price has risen 6% to 63 cents. This gain may be in response to news out of S&P Global Platts which indicated that Asian LNG markets could be set for a tight winter. Shell's head of integrated gas Maarten Wetselaar has predicted that prices will remain elevated until at least March 2019.
