The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is down a disappointing 0.5% to 6,154.4 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 BWX Ltd (ASX: BWX) share price has climbed 5% higher to $4.20 a day after Bain Capital advised that it would not be going ahead with its $6.60 takeover offer after 12 weeks of due diligence. Investors appear to believe that the personal care products company's shares have fallen to a level that represents a good risk/reward. While I would prefer to see an improvement in its performance before buying, its shares are tempting at these levels.
The Kathmandu Holdings Ltd (ASX: KMD) share price is up 3.5% to $2.96 following the release of its full year results. At one stage the outdoor retailer's shares were up as much as 11% before they gave back gains. In FY 2018 Kathmandu posted an 11.7% lift in sales to NZ$497.4 million and a 32% increase in net profit after tax to NZ$50.5 million. I think its shares look good value even after today's gain.
The Regis Healthcare Ltd (ASX: REG) share price has rebounded from yesterday selloff with a 4% increase to $3.12. The aged care operator's shares had bounced back by as much as 9% in morning trade. I suspect some investors felt that Regis' shares had drifted into bargain territory after sinking following the announcement of a Royal Commission into the sector. I would stay clear of the sector until after the Commission.
The Updater Inc (ASX: UPD) share price has continued its solid run and is up a further 3% to $1.25. The relocation platform provider's shares have rallied strongly in recent days following the release of a business update. According to that release, the Updater platform is expected to handle at least 3 million relocations this year in the United States, up almost 27% on 2017's relocations.
