Despite a strong start to the session, the ASX has swung into negative territory with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.1% around midday. These four stocks, however, are performing quite strongly.
Treasury Wine Estates Ltd (ASX: TWE) shares reopened for normal trade after the group announced it had successfully raised $368 million in a rights issue to institutions. This will help the company fund the acquisition of 'the majority' of assets from Diageo Wine's US and UK operations. Investors clearly loved the cause, pushing shares to a new record high of $7.52. They've since retreated to $7.33, up 11.6% on their previous closing price.
Senex Energy Ltd (ASX: SXY) gained 3%, or 0.5 cents, to trade at 17 cents per share. As is the case with most other energy corporations, Senex's shares have been hit for six over the last year or so as a result of crashing oil prices. However, the Brent oil price rose 1.5% during the latest session, offering some encouragement to investors in the sector.
Shine Corporate Ltd (ASX: SHJ) shares rose 8% to $2.17, despite the absence of any company-specific news to explain the jump. The legal firm's shares have fallen sharply over the last six months – likely in part due to the controversy surrounding rival Slater & Gordon Limited (ASX: SGH) – and investors may simply be taking the opportunity to buy Shine at a discount.
GBST Holdings Limited (ASX: GBT) shares are up 5% at $4, recovering some of last week's sharp losses. The software provider issued a major profit downgrade which was made worse by the fact that the long-serving managing director had announced his intention to retire shortly beforehand, selling many of his shares in the process. While the company could experience further volatility in the near-term, GBST could be a good pick up for the long run.
