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Why ARB, CSR, Japara, & Perseus Mining shares are storming higher today

In afternoon trade the S&P/ASX 200 index has fought back from a heavy decline and is just a fraction lower. At the time of writing the benchmark index is down just a few points to 6,662.4 points.

Four shares that have not let that hold them back are listed below. Here’s why they are ending the week on a high:

The ARB Corporation Limited (ASX: ARB) share price is up 2% to $18.45 following a product update. According to the release, the company has designed and developed a winch capable bumper for the USA Ford Ranger in conjunction with the Ford Motor Company. This co-branded winch compatible bumper will be released at the SEMA show on November 5 and will then be commercially available in 2020. The release also explains that the two parties are working together on other accessories.

The CSR Limited (ASX: CSR) share price is up almost 3.5% to $4.28. This morning the building products company released its half year results. CSR reported a net profit after tax (before significant items) of $71.6 million. Whilst this was down from $89.6 million in the prior comparable period, it was better than some expected.

The Japara Healthcare Ltd (ASX: JHC) share price has climbed over 5% to $1.18 following the release of the Royal Commission into aged care interim report. Although the report was scathing, investors don’t appear to believe it was as bad as expected. The rest of the aged care providers are pushing higher this afternoon.

The Perseus Mining Limited (ASX: PRU) share price has jumped 7.5% higher to 92 cents. Investors have been buying the gold miners again after the spot gold price jumped higher overnight. The precious metal climbed over 1% to beyond the symbolic US$1,500 an ounce mark after the U.S. Federal Reserve cut rates. It isn’t just Perseus climbing higher today. The S&P/ASX All Ords Gold index is up 2.6% at the time of writing.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Limited. 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.

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