In afternoon trade the S&P/ASX 200 index is on course to record a very disappointing decline. At the time of writing the index is down 2.3% to 6,446.6 points.
Four shares that have not let that hold them back today are listed below. Here's why they have pushed higher:
The Evolution Mining Ltd (ASX: EVN) share price is up over 2% to $5.27. Thanks to the rise in the gold price due to the market selloff, Evolution's shares have managed to push higher today despite the release of a mixed full year result this morning. The gold miner posted a 13% decline in full year underlying net profit after tax.
The St Barbara Ltd (ASX: SBM) share price is up 2.5% to $3.76 after the gold price surged higher overnight. Concerns that the U.S. could be about to fall into a recession led to investors selling risk on assets and scrambling into risk off assets like gold and the gold miners. At the time of writing the S&P/ASX All Ords Gold index is up a sizeable 1.8%.
The Super Retail Group Ltd (ASX: SUL) share price has climbed 3.5% to $8.99 after the retailer released a solid full year result. Super Retail delivered a 5.4% increase in sales to $2.71 billion and a 5% lift in normalised net profit after tax to $152.5 million. This allowed the company to lift its full year dividend to 50 cents per share. Looking ahead, management revealed that it has had a positive start to the new financial year.
The Treasury Wine Estates Ltd (ASX: TWE) share price has stormed over 4% higher to $17.79 following the release of a strong full year result. In FY 2019 the wine company posted a 17% increase in net sales revenue to $2,831.6 million and 25% increase in EBITS to $662.7 million. A key driver of the result was the impressive performance of its China business. Management also reiterated its FY 2020 EBITS growth guidance of 20%.
