Why these 4 shares are winning on Melbourne Cup day

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has managed to give back most of yesterday’s gains on the back of weak offshore leads and a sharp drop in oil prices overnight.

The main index is trading around 0.6% lower today with the biggest falls coming from the telecommunications and energy sectors.

Despite the broader market weakness, these four shares are enjoying a particularly strong day:

Resolute Mining Limited (ASX: RSG)

Shares of the gold miner have jumped more than 4% today following the release of a change of director’s interest notice that showed its CEO, John Paul Welborn, recently purchased 80,000 shares worth around $126,000. Although it is not a massive purchase, it is still a positive sign for investors that top-level management believes the shares are currently undervalued and there may be better prospects ahead. Interestingly, the shares have fallen more than 35% since hitting their 52-week highs in mid-September.

Collins Foods Ltd (ASX: CKF)

Shares of Collins Foods are trading more than 3.5% higher today after the company announced plans to expand its operations into Germany. The company will acquire 11 KFC stores for €12.7 million, with the deal expected to be immediately earnings per share accretive. The announcement also highlighted the point that this strategic acquisition will provide Collins Foods with the necessary growth platform for expansion beyond Australia.

APN Outdoor Group Ltd (ASX: APO)

Shares of APN Outdoor have climbed more than 2.3% today after an initial substantial holder notice revealed that Canadian-based investment firm, Mawer Investment Management, has increased its stake in the outdoor advertising company to just over 5%. Mawer has been accumulating shares following the massive drop in the share price earlier in the year and this announcement is probably helping local investor sentiment today.

Blackmores Limited (ASX: BKL)

Despite reporting a disappointing decline in first quarter sales and profits last Thursday, Blackmores shares are enjoying their third straight day of gains today with a rise of 1.2% to $113.47. Investors are clearly looking past the first quarter result on the basis that second quarter sales have started to show improved momentum and that direct sales into China continue to grow at an astonishing pace. Interestingly, the shares have now spiked more than 15% since hitting last week’s 52-week low of $97.91.

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Motley Fool contributor Christopher Georges owns shares of Blackmores Limited and APN Outdoor. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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