Although it has rebounded from its morning lows, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 0.1% to 5,574.3 points.
Four shares that haven't let that hold them back today are listed below. Here's why they have pushed higher:
The AGL Energy Limited (ASX: AGL) share price has risen almost 3% to $20.18. With no news out of the integrated energy company, I suspect that today's rise could be attributable to investors seeking out alternate safe haven assets after the gold price dropped lower overnight. Investors will often flock to utilities due to their defensive characteristics.
The Creso Pharma Ltd (ASX: CPH) share price has jumped 7% to 36.5 cents after the cannabis company announced that it now has the opportunity to introduce its global CBD derived brands cannaQIX, anibidiol, and cannaDOL to the United States of America's human and animal health markets. This has been made possible following the removal of hemp from the Controlled Substances Act.
The RPMGlobal Holdings Ltd (ASX: RUL) share price has pushed 2.5% higher to 59 cents after the mining software company announced that its wholly owned Russian subsidiary has entered into a full and final settlement agreement relating to an adverse court judgement in Russia. The terms of the settlement are confidential but management does not expect it to result in any additional expenses in FY 2019 due to its insurance coverage. Management said: "This dispute which has been conducted under Russian law has been an illuminating experience for all involved."
The Starpharma Holdings Limited (ASX: SPL) share price is up 3.5% to $1.41 after the biotechnology company announced the signing of a licence for the sales and marketing rights to its VivaGel BV product to ITF Pharma in the United States. According to the release, Starpharma will be eligible to receive up to US$101 million (A$142 million) in regulatory approval and commercialisation milestones in addition to attractive tiered royalties on sales.
