The S&P/ASX 200 index has followed the lead of U.S. markets and is on course to finish the day deep in the red. In afternoon trade the benchmark index is down 1% to 6,701.3 points.
Four shares that have not let that hold them back today are listed below. Here’s why they have charged higher:
The Credible Labs Inc (ASX: CRD) share price has stormed over 6% higher to $2.19 after the San Francisco-based consumer finance marketplace operator announced that it has entered into a definitive merger agreement with a subsidiary of Fox Corporation. According to the release, the merger agreement will see shareholders receive A$2.21 cash per CDI, which represents A$55.25 per share of common stock in Credible.
The Dacian Gold Ltd (ASX: DCN) share price has climbed 4.5% to $1.00 after the gold miner announced more strong drilling results. According to the result, this confirms that the company has made a high-grade discovery below the historic Morgans North open pit at its Mount Morgans gold operation near Laverton in Western Australia.
The Janus Henderson Group PLC (ASX: JHG) share price has bounced back from its horrific week with a gain of 2.5% to $28.65. The fund manager’s shares were sold off last week after it released its latest assets under management (AUM) update. Although Janus Henderson saw its AUM rise 1% on the prior corresponding period to US$359.8 billion, this was all down to positive market movements. The company actually experienced net outflows of US$9.8 billion over the period.
The Oil Search Limited (ASX: OSH) share price has risen 3% to $7,15 after providing an update on its Papua New Guinea operations. According to the release, the company is encouraged “by the statement made by the Minister for Petroleum, Mr Kerenga Kua, that the PNG Cabinet (National Executive Council) has agreed, in principle, to stand behind the Papua LNG Gas Agreement, which was signed by the PNG Government and the PRL 15 Joint Venture in April 2019.”
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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.