The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back most of yesterday’s gains and is on course to finish the week on a disappointing note. At the time of writing the index is down 1% to 5,578.5 points.
Four shares that have defied the market and pushed higher today are listed below. Here’s why they are ending the week on a high:
The Bionomics Ltd (ASX: BNO) share price has climbed 6% to 10.5 cents after the biotech company announced the commencement of an experimental phase II clinical trial. In combination with Bristol-Myers Squibb’s nivolumab, Bionomics will trial its cancer drug candidate, BNC105, in patients with metastatic colorectal cancer. The Australasian Gastro-Intestinal Trials Group is sponsoring the trial which is being supported by Bristol-Myers Squibb.
The Healius Ltd (ASX: HLS) share price has pushed a further 1.5% higher to $2.75. Yesterday Healius, formerly known as Primary Health Care, revealed that it has received a non-binding indicative acquisition proposal from Jangho Hong Kong Limited. An indicative offer of $3.25 cash per share has been made, though the Healius board is not yet in a position to recommend it.
The iSelect Ltd (ASX: ISU) share price has risen 5.5% to 77.5 cents despite there being no news out of the price comparison website operator. However, last month Innovation Holdings increased its stake in the company to 22.6% from 19.6%. Investors may believe this is a sign that a takeover approach is coming in the near future. Innovation Holdings is the company behind rival Compare the Market.
The Newcrest Mining Limited (ASX: NCM) share price is up 3% to $23.32. Australia’s gold miners have been on the charge today after volatile markets led to a jump in the gold price overnight. The spot gold price is up 0.7% to US$1,289 an ounce over the last 24 hours. The S&P/ASX All Ords Gold index is up a sizeable 2.3% today.
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.