Concerns that President Trump is on the brink of starting a global trade war has led to the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) selling off sharply during trade on Friday. In afternoon trade the benchmark index is down a sizeable 2.1% 5,810 points.
While the vast majority of shares on the ASX have dropped lower today, some have managed to defy the market. Here are four shares ending the week with a move higher:
The Animoca Brands Corporation Ltd (ASX: AB1) share price has pushed 5% higher to 6.1 cents after announcing the launch of its Crazy Defense Heroes mobile game in the Americas and Europe on IOS devices. The game has been very successful in the Asia, ANZ, and Africa markets, and management is optimistic it will succeed in these new markets.
The Beadell Resources Ltd (ASX: BDR) share price is up 2.5% to 8.5 cents. While not all gold miners have moved higher today, a few small miners have benefited as investors bet on the gold price moving higher after President Trump shocked global markets by announcing plans to place a tariff on US$50 billion of imports from China.
The Silver Chef Limited (ASX: SIV) share price has jumped 6% higher to $3.71 despite there being no news out of the equipment funding provider. Prior to today, Silver Chef’s shares were down 53% over the last 12 months. This could mean bargain hunters are swooping in now.
The Vista Group International Ltd (ASX: VGL) share price is up almost 1% to $2.70 after the film industry software solutions company announced that it has terminated its French market distribution agreement with Côté Ciné Group. According to the release, the company has decided to address France directly. It intends to build on its sales and delivery capabilities to take advantage of the opportunities the significant cinema market offers.
Missed these gains or suffered from today's meltdown? Then buy these shares whilst they are cheap would be my advice.
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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 Vista Group Int'l. 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 Scott Phillips.