It looks set to be yet another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). At time of writing the benchmark index has given back its morning gains and is down 0.6% to 5,698.9 points.
Four shares that have defied the market decline today and pushed higher are listed below. Here's why they are on the rise:
The Beach Energy Ltd (ASX: BPT) share price has rebounded 2% higher to $1.65. The energy producer's shares have bounced back from yesterday's selloff after oil prices recovered slightly. Speculation that OPEC will announce major production cuts for 2019 at its meeting next month led to both WTI and Brent crude oil prices snapping their losing streaks overnight. It is worth noting, however, that oil prices have started to fall again this afternoon according to Bloomberg.
The G8 Education Ltd (ASX: GEM) share price has stormed 10% higher to $2.65 after the childcare centre operator provided a trading update at its annual general meeting. That update revealed that G8 Education has experienced improvements in trading conditions and occupancy levels. While this is positive news, I intend to wait for consistent progress before considering G8 Education as an investment option.
The Lendlease Group (ASX: LLC) share price is up 4% to $13.29. The property and infrastructure company's shares were given a major boost today when Credit Suisse upgraded them to an outperform rating with a $16.20 price target. The broker believes that Lendlease's shares have been oversold and could be an attractive option ahead of its annual general meeting on Friday.
The Regis Resources Limited (ASX: RRL) share price has pushed 3.5% higher to $4.30. Almost all Australian gold miner shares have climbed higher today as investors move to safe haven assets to avoid the market selloff. At the time of writing the S&P/ASX All Ords Gold index is up a sizeable 1.3%.
