The benchmark S&P/ASX 200 index looks set to end its positive run with a sharp decline on Friday. In afternoon trade the index is down 0.5% to 6,652.4 points.
Four shares that haven’t let that hold them back are listed below. Here’s why they are ending the week on a high:
The Altura Mining Ltd (ASX: AJM) share price has rocketed 18% to 13 cents. Investors have been snapping up the lithium miner’s shares after it released an update on its performance during the June quarter. According to the release, June quarter sales will be 38,600 dmt, which represents a strong increase from previous quarters. In addition to this, the company advised that it continues to receive positive feedback from offtake customers regarding the quality of its product.
The Beach Energy Ltd (ASX: BPT) share price is up over 3% to $1.93 after oil prices recorded their largest daily gain of 2019. Oil prices jumped higher overnight following an escalation in tensions between the United States and Iran. The latest incident saw the United States accuse Iran of shooting down one of its drones over international waters.
The Jumbo Interactive Ltd (ASX: JIN) share price has risen 2.5% to $20.29. Today’s gain appears to be in relation to news that Apple has updated its App Store guidelines and will take off gaming apps that are not specifically designed for iOS. One broker that believes Jumbo could benefit from the development is Morgan Stanley. It sees this as a positive for its U.S. ambitions and continues to rate its shares as a buy.
The New Hope Corporation Limited (ASX: NHC) share price has surged over 8.5% higher to $2.77 despite there being no news out of the coal miner. One potential catalyst for this gain could be news of a fire impacting production at a rival coal mine operated by the struggling Griffin Coal.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Jumbo Interactive Limited. 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.