The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back yesterday’s gains and is down 0.5% to 6,178.3 points in afternoon trade.
Four shares that have defied the market and pushed higher today are listed below. Here’s why they are climbing higher:
The Fluence Corporation Ltd (ASX: FLC) share price is up 2.5% to 40 cents. This morning the water treatment company announced that it has been awarded a contract to deliver an Aspiral smart packaged MABR technology solution in China. This project will consist of four Aspiral L5 units that will treat wastewater for the town of Baiceng.
The Iluka Resources Limited (ASX: ILU) share price has risen 4.5% to $11.20 after the mineral sands producer’s shares were upgraded to a buy rating by Citi. According to the note, the broker has also increased its price target to $13.70 on the back of higher production expectations and the benefits of better pricing and favourable currency movements.
The Jatenergy Ltd (ASX: JAT) share price has rocketed 19% to 7.5 cents after the infant formula hopeful had its Sunnya’s Neurio branded range of products approved for sale online to Chinese consumers on JD Global’s cross border and JD supermarket platforms: JD.com and JD.hk. While this is a positive, it doesn’t necessarily mean it will generate meaningful sales. I would stay clear of Jatenergy until it has a track record.
The Resolute Mining Limited (ASX: RSG) share price has surged 6% higher to $1.38. Although most gold miners have pushed higher today as investors move to risk off mode, Resolute has climbed more than most after a note out of Citi revealed that it has placed a buy rating and increased price target of $1.80 on its shares. The broker made the move after Resolute released an updated Syama definitive feasibility study which revealed lower operating costs and a longer mine life.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.