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%.
Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully frankded yield...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- Top analysts name their top 3 ASX blue chip shares for 2019
- Richest man alive issues dire warning
- 3 quality dividend shares to boost your income
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia owns shares of Super Retail Group 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019