It's fair to say the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) isn't having the best of days. In early afternoon trade the benchmark index is down 0.3% to 5,597 points following heavy declines in the financial and telecommunications sectors.
Not all shares have fallen lower today. Four shares in particular have defied the market with strong gains. Here's why:
Bellamy's Australia Ltd (ASX: BAL) shares have rallied for a second day in a row, this time by 9% to $5.02. The news that UK-based household goods giant Reckitt Benckiser plans to pay a premium to acquire US-based infant formula giant Mead Johnson appears to be the catalyst for the buying frenzy. Whether Bellamy's would be an attractive takeover option for somebody else is questionable, even if its shares have more than halved in value.
Hub24 Ltd (ASX: HUB) shares are up 4% to $4.89 after the growing fintech company reported another stellar quarter. At the end of the second quarter the financial services software provider had increased its retail funds under administration by 75% year-on-year to $4.15 billion. HUB24 could be worth keeping a close eye on.
St Barbara Ltd (ASX: SBM) shares have rocketed 7% to $2.82. Australia's gold miners received a boost overnight when the spot gold price climbed to US$1,232 an ounce. This is over US$100 an ounce higher than its December low and is thanks largely to weakness in the U.S. dollar. How long that weakness stays around is hard to say, but I would consider locking in those gains sooner rather than later.
Transurban Group (ASX: TCL) shares have stormed higher by 6% to $11.00 following the release of its half-year report. The toll road king reported proportional toll revenue of $1.06 billion, up 10.9% on the prior corresponding period. The strong top line growth was driven by an 4.8% increase in average daily traffic. The company also increased its full-year distribution guidance to 51.5 cents per share.
