The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a disappointing end to the week. In afternoon trade the benchmark index is down 1.1% to 5,697 points.
Four shares which have managed to defy the market and climb higher are listed below. Here's why they are finishing the week strongly:
The Equus Mining Ltd (ASX: EQE) share price is up 20% to 4.8 cents despite there being no news out of the mining company. This latest gain means that its shares have gained over 65% this week alone. Investors appear to have taken an interest in the company following a positive drilling result in June. As promising as the drilling result was, I feel it may be a touch soon to invest in the company.
The Nearmap Ltd (ASX: NEA) share price has jumped 11.5% to 68 cents following the release of strong preliminary full-year results. According to the release, annualised contract value is expected to be approximately A$40 million, an increase of 16% year-on-year. Nearmap's growing U.S. operations played a key role in the strong result, with its ACV rising from US$1.5 million to US$5.3 million. I think Nearmap is an exciting company and definitely worth taking a closer look at today.
The OrotonGroup Limited (ASX: ORL) share price has climbed 3% to $1.03 thanks largely to rumours that the luxury retailer could be a takeover target. UK-based fund manager Highclere International has sold its entire 7% holding in the retailer for $1.00 a share, but at this point in time it isn't clear who to. Gazal Corporation Limited (ASX: GZL) has been touted as a possible buyer.
The Praemium Ltd (ASX: PPS) share price has surged 17% to 41.5 cents after the investment platform provider updated the market on its fund inflows. According to today's release, Praemium saw record inflows of $554 million across its global platforms and funds during the June quarter. This means that funds under administration have surpassed $6 billion, an increase of 34% on the prior quarter. With growth of this level, I think Praemium could be one to watch.
