Concerns surrounding a number of key political events are keeping some investors on the sidelines today and this has seen the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) fall 0.82% to 5,701 points.
The financials and information technology sectors have been the hardest hit today, with the gold sector finding strong support from safe haven investors.
Four shares that have managed to buck today's trend include:
IDP Education Ltd (ASX: IEL)
Shares of IDP Education have spiked more than 8.2% today after announcing it will acquire Hotcourses, a UK-based digital marketing and online student recruitment company. Under the agreement, the company will pay £30.1 million for the business, along with an additional £4.9 million representing net cash in the business upon completion. The purchase will be funded entirely by a new debt facility and IDP Education expects that it will be earnings per share (EPS) accretive in FY18 (before amortisation of intangibles).
Kogan.com Ltd (ASX: KGN)
Shares of Kogan.com have risen strongly again today following yesterday's better-than-expected trading update. The online electronics retailer beat its own recently issued profit guidance on the back of a strong Christmas trading period and believes it will be able to maintain its strong momentum into the second half of the financial year. The shares have gained 3.7% today and close to 25% since the start of the year.
Regis Resources Limited (ASX: RRL)
Regis Resources is the best performing major gold miner today with its shares rising more than 5%. The spot gold price rose slightly overnight, but as highlighted here it has also rallied strongly over the past month as some investors hedge their bets ahead of a number of key political events. Other notable winners from the gold sector today include EVOLUTION FPO (ASX: EVN) – up 3.2% and Newcrest Mining Limited (ASX: NCM) – up 1.8%.
Blackmores Limited (ASX: BKL)
Shares of Blackmores have managed to rise nearly 1% today, despite the absence of any news from the company. The shares have now risen more than 8% over the past four trading sessions, despite the disappointing market update released by Bellamy's Australia Ltd (ASX: BAL) last Wednesday. Blackmores shares have also been helped by improving sentiment after a Credit Suisse analyst suggested that sales momentum into China had improved across November and into December.
