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Why these 4 ASX shares are ending the week with strong gains

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.

Missed out on these gains? Then grab these hot stocks before they fly.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Nearmap Ltd. 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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