Why these 4 ASX shares are pushing higher today

It has been another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.7% to 6,130.1 points.

Four shares that have defied the market today are listed below. Here’s why they are pushing higher:

The Asaleo Care Ltd (ASX: AHY) share price has risen over 3.5% to 76.2 cents despite there being no news out of the personal care product company. However, with its shares trading close to a multi-year low, some investors appear to see a lot of value in them at these levels.

The Australian Mines Limited (ASX: AUZ) share price has continued its solid run and is up almost 7% to 4.7 cents. Last week the nickel, cobalt and scandium company’s shares fell to a new low for 2018. Two consecutive days of gains could be a sign that some bargain hunters feel this is an attractive price to buy its shares at.

The Orocobre Limited (ASX: ORE) share price has surged 7.5% higher to $4.52. Yesterday the lithium miner announced the appointment of Martin Perez de Solay as its new chief executive officer and managing director after an extensive global search by recruitment specialist Egon Zehnder. Mr Perez de Solay will take on these roles after the upcoming annual general meeting and a transition period with the current managing director and CEO. Investors appear to be pleased that the new CEO will be based in Argentina and intends to utilise his extensive operational expertise and in-country knowledge for the maximum benefit of shareholders.

The Senex Energy Ltd (ASX: SXY) share price has risen 2.5% to 52.3 cents. As well as receiving a boost from rising oil prices, Senex was a share named in a broker note out of Citi this morning. According to the note, the broker has retained its buy (high risk) rating and 56 cents price target on the energy producer’s shares.

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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.

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