In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for another disappointing decline. The benchmark index is currently down 0.3% to 5,683 points.
Four shares which have managed to defy the market and climb higher today are listed below. Here’s why they are higher:
The Beach Energy Ltd (ASX: BPT) share price is up 3% to 68 cents. Today’s gain is likely to be attributable to a research note out of Credit Suisse this morning which revealed that its analysts have retained their buy rating and 80 cents price target. The investment bank appears to have been impressed by the energy company’s transformation into a highly profitable business.
The Saracen Mineral Holdings Limited (ASX: SAR) share price is up 2.5% to $1.47. Many of Australia’s leading gold miners have edged higher today after the gold price continued its ascent. Currently the spot gold price is up slightly to US$1,336 an ounce amid rising tensions on the Korean peninsula.
The SKY and Space Global Ltd (ASX: SAS) share price has jumped 8% to 19.5 cents after the communications infrastructure company updated the market on its 3 Diamonds nano-satellites. The company advised that it has successfully completed full capability tests for phone calls, instant message, voice recording, and image transfers through the 3 Diamonds. I think Sky and Space Global is worth keeping a very close eye on.
The Vocus Group Ltd (ASX: VOC) share price has continued its solid run and climbed a further 2% to $2.45, bringing the telco company’s two-day return to almost 8%. I suspect bargain hunters may be snapping up shares after a steep drop in its share price this year.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Vocus Communications Limited. 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.
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