So far it has been a mixed day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Although it has come off its lows, in afternoon trade the index is largely flat at 5,439 points.
Doing their best to lift the index higher have been four shares in particular. Here's why they are finishing the week with a bang:
a2 Milk Company Ltd (Australia) (ASX: A2M) shares are up almost 4% to $2.06 despite there being no news out of the dairy company. Its shares have come under a reasonable amount of selling pressure in recent days following the Bellamy's Australia Ltd (ASX: BAL) debacle. I believe this has created a buying opportunity for investors.
Crown Resorts Ltd (ASX: CWN) shares have jumped over 2% to $11.61 after investors reacted positively to news that the casino operator has continued to sell down its stake in Melco Crown Entertainment. After the latest sale Crown will hold just 11.2% of Melco Crown, down from 27.4% at the start of the week. The proceeds will be used to service debt, pay a special dividend, and buy back shares.
Orora Ltd (ASX: ORA) shares have surged 5% to $2.93 after brokers responded positively to its acquisition of The Register Print Group. According to management the US-based point of purchase company will provide a 5% per annum boost to sales growth over the next three years. I think Orora is a great buy and hold investment, especially with a weaker Australian dollar. Almost half the company's revenue comes from the North American market.
Orocobre Limited (ASX: ORE) shares have rocketed higher by 9% to $4.28 a day after scoping studies confirmed a 17,500 tonne per annum lithium carbonate expansion for Olaroz Lithium Facility in Argentina. This will double capacity at the mine to 35,000 tonnes per annum with commissioning targeted for late 2018 to early 2019. With lithium demand at extreme highs, this is great news for the miner.
