The Australian sharemarket is a bloodbath today as investors becoming increasingly concerned about the Greek debt crisis.
With Saturday seen as the last possible opportunity for an agreement; investors have responded by selling the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices down a massive 1.5% each.
While very few stocks have managed to avoid the carnage, these four are bucking the trend…
Woolworths Limited (ASX: WOW) is one of the few blue-chips in the black today following speculation that the embattled retailer could be the target of one of the biggest takeovers in corporate history. News Corp published an article that suggested it could be in the sights of a private equity firm, sending the shares flying 3.8% to $27.39.
Newcrest Mining Limited (ASX: NCM) also finds itself in the black with its shares trading 1.3% higher. Although most other gold miners have fallen today as a result of another fall in the shiny metal's price overnight, Newcrest has managed to recover some of its value following a heavy sell-off over the last month. The shares now trade at $13.06 per unit.
Retail Food Group Limited (ASX: RFG) has gained 0.7% despite the absence of any news. Retail Food Group's shares have been hammered over the last four months, falling nearly 30% in that time, largely due to a market update provided in June which included an $18.5 million non-cash write-down. Investors could certainly view its recent weakness as an ideal buying opportunity.
Slater & Gordon Limited (ASX: SGH) is trading 1.4% higher for the day following yesterday's hammering. The stock plummeted more than 17% after it was announced that the United Kingdom's financial watchdog, the Financial Conduct Authority, would launch a probe into the activities of Quindell Plc. Slater & Gordon recently acquired part of Quindell's business for $1.2 billion, and investors are obviously petrified of what the investigation might uncover.
