Despite heavy declines in the tech sector the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to push higher on Tuesday. In afternoon trade the index is up 0.2% to 6,290.5 points.
Four shares that have climbed more than most today are listed below. Here's why they are on the rise:
The BHP Billiton Limited (ASX: BHP) share price has climbed almost 2% to $34.81. The mining giant was given a boost overnight after oil prices surged higher on the back of global supply concerns and strong underlying demand. According to Bloomberg, the WTI crude oil price rose 2% to US$70.09 a barrel and the Brent crude oil price climbed 0.8% to US$74.91 a barrel.
The Credit Corp Group Limited (ASX: CCP) share price has surged almost 6% higher to $20.05 following the release of the debt receivables company's full year results. Credit Corp reported net profit after tax of $64.3 million in FY 2018, up 17% year-on-year. This was just ahead of the market expectations for net profit after tax of $63.7 million and appears to have impressed investors.
The Syrah Resources Ltd (ASX: SYR) share price has bounced back from yesterday's heavy decline with a 3% push higher to $3.02. Although Syrah's update yesterday revealed that its graphite production was below expectations and has forced it to downgrade its full-year guidance, Deutsche Bank has held firm with its buy rating and put a price target of $4.20 on its shares.
The Zenitas Healthcare Ltd (ASX: ZNT) share price has pushed almost 7% higher to $1.12. On Monday the growing home care and health services company released its fourth quarter report. Zenitas saw its cash receipts increase to approximately $33 million in the fourth quarter, leading to full year cash receipts of $106.1 million. Management reaffirmed its EBITDA guidance of between $13 million and $13.5 million prior to acquisition costs. I think this makes it one to watch.
