The local share market has been smashed today following a disastrous night for equities around the world. The Dow Jones and NASDAQ indices fell 1.6% and 2.4% respectively which set the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up for its 1.4% decline.
However, there are a number of stocks which have managed to escape the market's wrath, including these four:
Vocation Ltd (ASX: VET), the embattled education provider, has surprised the market with a thumping 51.9% gain. Earlier in the session, the stock had risen almost 65% after it announced the promotion of its current Chief Financial Officer, Stewart Cummins, to Chief Executive Officer. Vocation said that Cummins has played a key role in the business' strategic review while he said he is confident for its future.
Santos Ltd (ASX: STO) has provided some much-needed energy with its shares up 3.1% to $7.57. Oil prices rose strongly overnight due to concerns related to political instability in Yemen which threatens to impact production in the Middle East.
Fortescue Metals Group Limited (ASX: FMG) has also provided some bounce with its shares up 4.9% to $2.14, even though the commodity's price actually declined marginally overnight. While it's possible that some investors are seeing its current low price as an opportunity to buy, they should know that iron ore prices are expected to decline further, which would put even more pressure on the miner's stock price.
Medibank Private Ltd (ASX: MPL) has also managed to piece together a slight increase, edging 1.3% higher to $2.37. The stock has been stuck in a downwards spiral since the release of its interim financial results late last month. It's possible that some investors were expecting more from Australia's largest health insurer and have sold the stock off to explore other opportunities.