It has been a disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has given back most of yesterday’s gains and is down by 0.8% to 5,726 points.
Four shares which haven’t let that hold them back are listed below. Here’s why they have stormed higher today:
The IOOF Holdings Limited (ASX: IFL) share price has climbed almost 6% to $10.67 after the financial services company announced its full-year results. The market appears to have been impressed with IOOF’s net inflows during the period. The company finished the second-half with net inflows of $4.6 billion, up an impressive 156% on the prior corresponding period.
The Lifehealthcare Group Ltd (ASX: LHC) share price is up 2.5% to $2.41 despite there being no news out of the healthcare specialist. Today’s gain means that Lifehealthcare’s shares have risen 15% in the last three months thanks partly to the strengthening of the Australian dollar. As the company imports medical equipment from specialist U.S. manufacturers, the strong local currency provides it with more purchasing power.
The Mobile Embrace Ltd (ASX: MBE) share price has rocketed 23% to 9.2 cents following the release of a trading update out of the mobile commerce company. After a shaky 12 months, the company has finished on a high by revealing it has met its revised FY 2017 revenue and EBITDA guidance. Whilst this is good news, I’d still stay clear of the company following its disappointing performance this year.
The Wattle Health Australia Ltd (ASX: WHA) share price is up 8% to $1.00 after the health and wellness food company announced the incorporation of a 100% owned Vietnam-based subsidiary. The new subsidiary has been granted a 10 year import and wholesale license which will give Wattle Health access to one of the largest consumer dairy markets in South East Asia. Another great development for the fledgling company.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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.