It has been a very disappointing end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Following the lead from U.S. markets, the benchmark index is down 1.5% to 5,727 points in afternoon trade.
Four shares which have managed to defy the market today and climb higher are listed below. Here's why they are finishing the week with strong gains:
The Eden Innovations Ltd (ASX: EDE) share price has jumped 26% to 24.5 cents after the clean energy company announced that the Georgia Department of Transport plans to use its EdenCrete admixture in all state-funded repair work over the next 12 months. Whilst I think this is a big win for the company, I still feel it is a little too soon to invest.
The GetSwift Ltd (ASX: GSW) share price is up 5.5% to 95 cents. Investors have been fighting to get hold of the logistics software platform provider's shares this week following a successful capital raising. Management intends to use the funds to accelerate its growth and expand into other verticals. I think GetSwift is a great buy and hold investment option.
The Mineral Resources Limited (ASX: MIN) share price has climbed almost 8% to $10.77 despite downgrading its full-year earnings guidance. Due to weaker iron ore prices, EBITDA is expected to be in the range of $460 million to $480 million. Previous guidance was for EBITDA of between $480 million to $520 million.
The Yancoal Australia Ltd (ASX: YAL) share price has rocketed 40% to 38 cents after Rio Tinto Limited (ASX: RIO) shareholders approved the sale of Coal & Allied to the coal miner. Yancoal aims to complete the acquisition in the third quarter, which will then make it the largest pure-play coal producer in Australia.
