Despite a strong rise on Wall Street overnight, the local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has retreated 0.8% and is back below the 5,000 point mark. However, these four ASX shares are somehow managing to buck the trend.
Slater & Gordon Limited (ASX: SGH) shares have risen 7.1% to 75 cents, after hitting a high of 78 cents earlier in the session. The shares have recovered almost 39% since last Thursday, which comes at the same time as its rival, Shine Corporate Ltd (ASX: SHJ), has been forced to review its Work In Progress recovery rates. Slater & Gordon still has issues of its own however and still poses as a risky investment.
AWE Limited (ASX: AWE) shares have skyrocketed 36.7%, taking its share price to 49.2 cents. The junior energy producer announced the sale of one of its assets this morning for roughly $271 million which should put it in a net cash position of around $60 million by the end of March. In other words, it will free the company of debt at a time where oil prices are plummeting.
Newcrest Mining Limited (ASX: NCM) shares have risen 3.7% to $13.58 after the spot gold price jumped to around US$1,120 an ounce, with some predicting a rebound to US$1,200 an ounce in the near future. Investors shouldn't rely too heavily on forecasts however – it could just as easily fall below US$1,000 as it could rally to US$1,200.
Retail Food Group Limited (ASX: RFG) shares have gained another 3% today to trade at $4.52, after sinking as low as $4.09 last week. The shares have fallen heavily since March 2015 but still appear to be well positioned for further earnings and dividend growth. As it stands, the shares are trading on a forecast 5.5% fully franked dividend yield, which may be enticing investors to buy in this low interest rate environment.
