Australian shares have defied international concerns and crashing commodity prices with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) trading just 0.2% lower late in the session. Earlier, the index crashed as much as 1.6% but has since rebounded in a recovery led by the nation’s biggest miners.
Here are four stocks that are delivering the goods for investors today…
Fortescue Metals Group Limited (ASX: FMG) is trading 3% higher, despite a crushing 10% fall in the iron ore price overnight. It’s possible that investors are speculating that iron ore has been sold off too heavily over the last 10 trading sessions and are thus positioning their portfolios for a sudden rebound.
Newcrest Mining Limited (ASX: NCM) rose 1.9% following a 0.6% rise in the price of gold overnight, according to the Fairfax press. Gold is often seen as a ‘safe haven’ amongst investors during times of elevated economic uncertainty, which could explain Newcrest’s strong performance today.
Webjet Limited (ASX: WEB) lifted another 5.3% higher today, following yesterday’s incredible 11.1% rally. The company announced 41% growth in Total Transaction Value (TTV) for the six months ended 30 June 2015, compared to the prior corresponding period. In addition, the company also reaffirmed its guidance of $27 million earnings before interest, tax, depreciation and amortisation (EBITDA) for the year, giving investors a burst of confidence for its future potential.
Orthocell Ltd (ASX: OCC) has risen 5.3% after the bio-therapeutic company announced it has received an Australian Research Council grant of $430,000 to further investigate tendon tissue and develop novel therapies. The group is focused on regenerating mobility for patients by developing products for a variety of tendon, cartilage and soft tissue injuries.
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