Unfortunately the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) hasn't been able to build on yesterday's strong gain and is down 0.4% to 5,705 points in afternoon trade.
Four shares which have defied the market and climbed higher are listed below. Here's why they are higher:
The Avz Minerals Ltd (ASX: AVZ) share price has surged 9.5% higher to 11.5 cents. This morning the mineral exploration company announced that it has signed a memorandum of understanding with Shanghai Greatpower for a potential investment and off-take opportunities from its Manono Lithium Project. Furthermore, the company advised that discussions are on-going with other parties. This potentially puts Avz Minerals in a strong position at the negotiation table.
The Catapult Group International Ltd (ASX: CAT) share price is up 4% to $1.31 despite there being no news out of the sports analytics company. But with its shares down over 46% year-to-date, I feel it is quite likely that bargain hunters are swooping in. While I do think it could be attractive at the current share price, I would wait to see what progress it has made when it next updates the market.
The Family Zone Cyber Safety Ltd (ASX: FZO) share price has jumped 9% to 87.5 cents. This morning the cyber safety company advised that it has signed a deal with Malaysia's largest telco provider. The deal will see Family Zone provide embedded on-device and in-network technologies that Maxis Communications can make available to its 12 million subscribers.
The Healthscope Ltd (ASX: HSO) share price is up 5% to $1.77. Today's gain could be a delayed reaction to yesterday's news that it has successfully offloaded its medical centres to Fullerton Health. Management has divested the medical centres in order to focus on its core hospitals and international pathology operations.
