The S&P/ASX 200 index has followed the lead of U.S. markets and is on course to end its positive run. In afternoon trade the benchmark index is down 0.5% to 6,700.6 points.
Four shares that have not let that hold them back are listed below. Here's why they have climbed higher:
The Challenger Ltd (ASX: CGF) share price has continued its positive run and is up a further 4.5% to $7.50. On Wednesday the annuities company's shares raced higher following the release of its first quarter update. Although it reported a disappointing 28% decline in annuities sales over the prior corresponding period, investors were relieved to see that management has reaffirmed its full year profit guidance.
The IOOF Holdings Limited (ASX: IFL) share price has stormed 9.5% higher to $6.97. This morning the financial services company updated the market on its acquisition of ANZ Wealth Pension and Investments business from Australia and New Zealand Banking Group (ASX: ANZ). That update revealed that ANZ has agreed to a revised price of $850 million, down from $975 million. The deal still is still awaiting APRA approval.
The Mesoblast limited (ASX: MSB) share price has charged 3% higher to $1.84. This morning the allogeneic cellular medicines developer announced a new agreement with integrated solutions provider Lonza. According to the release, the two parties have entered into an agreement for the commercial manufacture of Mesoblast's lead cell therapy product candidate, remestemcel-L for pediatric steroid-refractory acute graft versus host disease.
The Nearmap Ltd (ASX: NEA) share price has climbed 2% to $2.92. The aerial imagery technology and location data company's shares have been on fire this week following the release of its annual report. Although the report contained no new information, it reminded investors that it has a massive market opportunity. Despite generating sizeable revenues already in North America, management estimates that it has market penetration of just 1%-2%.
