It certainly has been a disappointing end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down sharply by 1% to 5,819 points.
Thankfully not all shares are ending the week lower. In fact, four shares in particular have managed to put on strong gains today. Here's why:
The Alumina Limited (ASX: AWC) share price has jumped 4% to $1.84. Today's gain is likely to be related to news that the world's second largest aluminium producer Rusal posted a solid first-quarter profit thanks to strong aluminium demand and prices. According to the Financial Times, Rusal expects China to curb production, further boosting prices.
The Jumbo Interactive Ltd (ASX: JIN) share price is up 4% to $2.72 after the company announced that its decade-long lottery reseller agreements with Tatts Group Limited (ASX: TTS) have finally been extended. Furthermore, Tatts has acquired a significant stake in the OzLotteries operator. I believe this is great news for the company and can't say I'm surprised to see its shares hit a new multi-year high.
The Perseus Mining Limited (ASX: PRU) share price has climbed 4% to 29.7 cents after the gold price bounced off recent lows as global markets retreated. The majority of Australia's gold miners have climbed higher today, pushing the gold index up by a solid 2.5%.
The Slater & Gordon Limited (ASX: SGH) share price has rocketed 25% to 11 cents after the embattled law firm announced its plans to file a claim against Watchstone Group in the High Court of England and Wales for approximately £600 million. According to the release the claim is based upon serious allegations against Watchstone and its then senior management. This includes fraud, relating to its purchase of Watchstone's Professional Service Division in 2015.
