Unfortunately the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) doesn't look likely to make it five days of gains in a row. In afternoon trade the index is lower by over 0.3% to 5,623 points ahead of the early finish.
Five shares which have been going against the grain and climbing higher today are as follows:
Amaysim Australia Ltd (ASX: AYS) shares have climbed 4.5% to $1.95 despite there being no news out of the growing telco company. Despite today's jump, Amaysim's shares are still down 15% year to date. This means they are changing hands at 24x trailing earnings. Although that isn't necessarily cheap, it could prove to be a bargain if the company's proposed broadband service wins a decent share of the market.
Liquefied Natural Gas Ltd (ASX: LNG) shares are up 3.5% to 66.2 cents after the company announced its wholly owned subsidiary Bear Paw Pipeline Corporation had received its environmental assessment approval from Nova Scotia Environment for its natural gas pipeline. A further announcement reveals that one of its directors has been buying shares on market. A real vote of confidence for the company in my opinion.
Mesoblast limited (ASX: MSB) shares have jumped 3.5% to $1.45 after it announced that it has entered into an equity purchase agreement with Mallinckrodt Pharmaceuticals. The agreement will see Mallinckrodt purchase 20 million Mesoblast shares at a price of $1.4761 per share in exchange for an exclusive commercial and development partnership for two of Mesoblast's Tier 1 product candidates.
Shine Corporate Ltd (ASX: SHJ) shares have rebounded strongly from recent declines with an almost 6% jump to 73.5 cents. Rival law firm Slater & Gordon Limited (ASX: SGH) has also climbed 4% today despite there being no news out of either company. Although the prospect of a successful turnaround might be appealing for investors, I would urge them to stay clear of both law firms.
