The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish a disappointing week with yet another decline. In afternoon trade the index is down 0.4% to 5,667 points.
Four shares which haven't let that hold them back are listed below. Here's why they are finishing the week with strong gains:
The Freedom Insurance Group Ltd (ASX: FIG) share price has climbed 3.5% to 75 cents after the insurance products company announced the sale of its non-core investment in NobleOak Life for $7 million. Freedom will recognise a profit of approximately $3.3 million before tax on the sale. The proceeds will be used to support its growth strategy. This could be a good time to consider an investment, in my opinion.
The Nextdc Ltd (ASX: NXT) share price is up almost 3% to $4.69. Today's gain is likely to be attributable to news that Asia Pacific Data Centre Group (ASX: AJD) has considered 360 Capital's takeover off, but continues to recommend NEXTDC's offer of $1.87 per share. Despite its strong gain recently, I still think there is significant upside for NEXTDC's shares in the long-term.
The Resolute Mining Limited (ASX: RSG) share price is up 3% to $1.27 today. Almost all of Australia's leading gold miners have posted gains today after the spot gold price reached a 52-week high of US$1,359 an ounce. Demand for the precious metal has increased due to concerns over escalating tensions in North Korea.
The Syrah Resources Ltd (ASX: SYR) share price has continued its strong run with a 9% gain to $3.60. This morning the graphite miner announced that it has signed a binding sales agreement with Jixi BTR Graphite Industrial. According to the release, the agreement is for 30,000 tonnes of graphite from its Balama operation during the first year of production. By my calculation, this equates to approximately 19% to 21% of its planned production for the first year.
