In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of U.S. markets and is down 0.7% to 5,932 points.
Four shares than have defied the market today are listed below. Here's why they climbed higher:
The Blackmores Limited (ASX: BKL) share price is up almost 4% to $134.51 despite there being no news out of the health supplements company. But considering that Blackmores' shares have fallen hard since the release of a disappointing half-year result, I suspect that bargain hunters may have swooped in to buy shares today.
The G8 Education Ltd (ASX: GEM) share price has pushed 2.5% higher to $2.82 thanks to the release of a positive broker note out of Morgans. According to the note, the broker has initiated coverage on the childcare centre operator with an add rating and $3.53 price target. Morgans believes that G8 Education is well positioned to grow organically and through acquisitions in the medium term after favourable regulatory changes. While I agree with Morgans on most points, I think investors would be better off waiting for improvements in occupancy levels before investing.
The Orocobre Limited (ASX: ORE) share price has moved almost 4.5% higher to $6.16. Although there was no news out of the lithium miners today, investor sentiment towards them appears to have shifted positively once again. Although I do think investors ought to keep an eye out for any weakness in lithium prices, I remain positive on the outlook for Orocobre and its peers in the short to medium term.
The Regis Resources Limited (ASX: RRL) share price has risen 2.5% to $4.56. Although many gold miners are up because of investors moving to risk off assets today, Regis was given an additional lift from a broker note out of the Macquarie equities desk. That note revealed that its analysts have upgraded Regis' shares to an outperform rating from neutral with an increased price target of $5.00.
