The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to finish the week on a high. In afternoon trade the benchmark index is up 0.7% to 6,211.7 points.
Four shares that have climbed more than most today are listed below. Here's why they are ending the week with a bang:
The Bellamy's Australia Ltd (ASX: BAL) share price has climbed 3% higher to $11.07 despite there being no news out of the infant formula and baby food company. At one stage today the company's shares were as much as 5.5% higher before giving back these gains. I suspect that some investors believe that its SAMR accreditation isn't too far away.
The Eclipx Group Ltd (ASX: ECX) share price is up 4.5% to 76.2 cents. The fleet management company's shares dropped by over 50% on Thursday after a shockingly bad trading update and news that merger talks with McMillan Shakespeare Limited (ASX: MMS) had broken down. One broker that believes the selling was overdone is Macquarie. A note out of the bank reveals that its analysts feel the selloff is a buying opportunity and have an outperform rating and $1.06 price target on its shares.
The FlexiGroup Limited (ASX: FXL) share price has climbed almost 3% to $1.40. After the market close on Thursday the financial services company announced the pricing of $300 million asset-backed securities. Management said: "This transaction will give flexigroup substantial headroom to grow our receivables book through the launch of our new Buy Now Pay Later product, humm, and to service the increased demand that we are seeing for our products on a daily basis."
The Helloworld Travel Ltd (ASX: HLO) share price is up 2% to $4.42. The catalyst for this gain appears to be a positive broker note out of Ord Minnett. According to the note, the broker has a buy rating and $6.14 price target on the integrated travel company's shares. It believes that the recent share price decline caused by a political scandal is a buying opportunity for investors.
