In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has recovered from a sharp decline in morning trade and is down around 0.1% to 6,174.2 points.
Four shares that have not let that hold them back are listed below. Here’s why they are storming higher:
The Bravura Solutions Ltd (ASX: BVS) share price has climbed 6.5% higher to $4.38 despite there being no news out of the fintech company. Earlier today Bravura Solutions’ shares hit an all-time high of $4.40. Investors appear to have been impressed with its performance in FY 2018 which saw revenue increase 15% to $221.5 million and underlying NPAT jump 27% to $27 million. Despite its strong gain I still think Bravura is worth considering with a long-term view.
The Experience Co Ltd (ASX: EXP) share price has climbed 3% higher to 38 cents. On Tuesday the adventure company’s shares fell to a 52-week low and a level which I felt was very attractive. Experience Co’s shares have come under heavy selling pressure this year after unfavourable weather conditions negatively impacted many of its businesses. I expect a much stronger performance in FY 2019.
The Kidman Resources Ltd (ASX: KDR) share price has stormed over 6.5% higher to $1.21. A number of lithium miners are pushing notably higher today. Many lithium miners have seen their respective share prices fall heavily this year amid concerns that a potential oversupply of the white metal could lead to a significant drop in prices. Some traders may feel that the selloff has been overdone.
The Santos Ltd (ASX: STO) share price has climbed over 2.5% to $6.92 after oil prices surged higher. According to Bloomberg, concerns over the imminent arrival of a major hurricane on the U.S. east coast led to the WTI crude oil price rising 3.5% to US$69.91 a barrel. In London the Brent crude oil price climbed 2.7% to US$79.44 a barrel. Brent crude oil rose strongly after it was revealed that France and South Korea are shunning Iranian crude.
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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 Bravura Solutions Ltd and EXPERNCECO FPO. 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.