Why these 4 shares are charging higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) looks like ending the week on a sour note thanks to weak offshore leads and uncertainty surrounding the upcoming Italian referendum. The main index has fallen 41 points, or 0.75%, to 5,468 points.

Gold is the only sector trading in positive territory today, with the biggest drags coming from the consumer staples, materials and information technology sectors.

Four shares that have managed to buck today’s market sell-off, include:

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

Shares of Fisher & Paykel have spiked as much as 5% today after the company announced that it has been successful in overturning an injunction granted to ResMed Inc. (CHESS) (ASX: RMD) that was preventing the sale of some of Fisher & Paykel’s products in Germany. The company has now resumed sales into the country and the CEO is confident of further legals wins in the near term. On the flip-side, today’s news has seen the shares of ResMed fall around 3.7%.

Vocus Communications Limited (ASX: VOC)

Vocus has been crucified this week, but it looks as though bargain hunters are stepping up to the plate today to send the shares up 2.4%. The shares are undoubtedly cheap if the company is able to meet its recently issued earnings guidance, but some sections of the market are likely to remain sceptical until the company announces its first half results in February 2017.

Virtus Health Ltd (ASX: VRT)

Virtus Health shares are enjoying their second consecutive day of strong gains today after the specialist fertility company announced another European acquisition. The company will purchase a Danish clinic for $16.5 million which management believes will be earnings accretive over FY17. Virtus has previously flagged its intentions to increase its presence abroad and investors are clearly happy with the latest deal, sending the shares 3.5% higher today.

Resolute Mining Limited (ASX: RSG)

Resolute Mining is one of the best performing gold miners today, despite the spot gold price falling 0.5% to $US1,167.55/oz overnight. Its shares have gained more than 4.7% today, most likely as a result of investors positioning themselves ahead of this weekend’s Italian referendum. Today’s gains also suggest an element of bargain hunting as the Australian gold sector has crashed around 25% since the US election.

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Motley Fool contributor Christopher Georges owns shares of Fisher & Paykel Healthcare Limited, ResMed Inc., and Vocus Communications Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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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