The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing day and is down 0.7% to 6,215.2 points in afternoon trade after President Trump slapped tariffs on US$200 billion of Chinese imports.
Four shares that have defied the market and pushed higher are listed below. Here’s why they are climbing higher today:
The Amaysim Australia Ltd (ASX: AYS) share price has bounced back from yesterday’s heavy decline with a 2% gain to 94 cents. The junior telco company’s shares came under heavy selling pressure yesterday after its energy business was hit with ACCC proceedings. Amaysim Energy’s discounts and savings have allegedly contravened the false or misleading conduct provisions of Australian Consumer Law.
The Flight Centre Travel Group Ltd (ASX: FLT) share price is up 4% to $64.78 after the travel agency was the subject of a broker note out of Morgan Stanley. According to the note, the broker has retained its equal-weight rating but lifted its price target all the way from $54.00 to $68.00. The broker appears to believe that its shift into the corporate market has been a success and that it is poised to beat earnings expectations in FY 2018.
The LiveHire Ltd (ASX: LVH) share price has zoomed 7.5% higher to 46.7 cents despite there being no news out of the talent technology company. On Tuesday LiveHire’s shares tumbled to a 52-week low and some investors appear to have seen value at this level. I’m not a big fan of the company and believe investors should stay clear of it until it proves that it has a profitable business model.
The Nearmap Ltd (ASX: NEA) share price has continued its positive run and is up 4% to $1.41 a day after the release of its preliminary results. One broker that was impressed was Morgan Stanley. According to a broker note out of the investment bank, its analysts have retained their overweight rating and lifted the price target on Nearmap’s shares to $1.80 following the results release.
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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 and has recommended Flight Centre Travel Group Limited and Nearmap Ltd. 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.