It has been a reasonable mixed start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index has bounced back from its lows and is down by 0.1% to 5,830 points.
Four shares in particular haven't let that hold them back. Here's why they have surged higher today:
The BT Investment Management Ltd (ASX: BTT) share price has rebounded from last week's heavy decline with a 3% jump to $12.14. BTIM's shares fell sharply last week after the release of a disappointing interim result. Judging by the jump today, some investors appear to believe they have fallen into bargain territory. Whilst I like the company, I would still hold out for a better entry point.
The Fairfax Media Limited (ASX: FXJ) share price has jumped 7.5% to a six-year high of $1.15 after private equity firm TPG came back with an improved offer. According to the release TPG is now offering $1.20 a share for the entire business, compared to the previous offer of 95 cents a share for its best assets.
The Perseus Mining Limited (ASX: PRU) share price is up 3.5% to 30 cents after the gold miner revealed significant results from exploration drilling at its Papara prospect in the Ivory Coast. Management believes the results point to significant additional inventory of mineable, mineralised material being discovered within trucking distance of its Sissingué mine. Great news if you're bullish on the gold price.
The Slater & Gordon Limited (ASX: SGH) share price has jumped 9.5% to 11.5 cents. Today's gain means the law firm's shares have rallied almost 28% since it announced plans to take Watchstone Group Plc to court in an attempt to claim £600 million ($1 billion) back in compensation following the acquisition of its Quindell business in 2015.
