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Why these 4 ASX shares surged higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a third consecutive day of declines and is down 0.3% to 5,951 points.

Four shares which have managed to defy the market are listed below. Here’s why they have surged higher today:

The Aveo Group (ASX: AOG) share price has climbed 3.5% to $2.74 on the day of its annual general meeting. Investors appear pleased that the retirement living company reaffirmed its full-year earnings per share growth guidance of approximately 8%.

The Cynata Therapeutics Ltd (ASX: CYP) share price is 3% higher to 66.5 cents after the stem cell and regenerative medicine company provided an update on the progress of the clinical trial of its Cymerus mesenchymal stem cell product. According to the release, Cynata has completed the enrolment of the first cohort of participants in its ground-breaking trial.

The DuluxGroup Limited (ASX: DLX) share price is up 4.5% to $7.88 following the release of its full-year results. For the year ended 30 September 2017, Dulux reported a 9.6% increase in net profit to $142.9 million on sales of $1,780 million. Investors appear pleased by this result and management’s positive outlook for FY 2018.

The XERO FPO NZX (ASX: XRO) share price is heading in the right direction again and is up 3.5% to $29.57 despite there being no news out of the accounting software company. But after a sharp decline over the last few trading days, investors appear happy to be able to snap up shares at a cheaper price.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Xero. 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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