The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has climbed off its lows but is still down 0.1% to 6,051.7 points in afternoon trade.
Four shares that have not let that hold them back are listed below. Here's why they are ending the week with a bang:
The Appen Ltd (ASX: APX) share price has pushed 3% higher to $11.60. This morning S&P Dow Jones Indices released the changes to its S&P/ASX indices that will be effective at the open of trading on June 18, 2018. These changes will see the artificial intelligence and machine learnings dataset provider's shares added to the S&P/ASX 200 later this month. This could open up Appen to fund managers that have previously been unable to buy it due to trading restrictions.
The Bubs Australia Ltd (ASX: BUB) share price has climbed 5% to 84 cents after the goat milk infant formula company announced two positive developments. According to the release, the company has entered into a binding manufacturing agreement with Australia Deloraine Dairy and signed a merchant services agreement with Chinese e-commerce giant Alibaba. The manufacturing deal with Australia Deloraine Dairy allows Bubs to commence the application process for CFDA registration. If granted, the company will be able to sell its product in China.
The Nanosonics Ltd (ASX: NAN) share price has raced 5.5% higher to $3.06. At one stage the infection control specialist's shares had risen to a 52-week high of $3.13. This has been quite a turnaround for Nanosonics. Just seven weeks ago its shares were as low as $2.26 and short interest had risen to high levels.
The Paragon Care Ltd (ASX: PGC) share price is out of its trading halt and up over 4% to 86 cents after announcing a major acquisition in New Zealand. Paragon Care has reached an agreement to acquire REM Systems for a net enterprise value of NZ$54.4 million. REM Systems is a specialised medical distribution company supplying acute care hospitals, day surgeries, allied health clinics, medical practices and veterinary clinics throughout New Zealand and Australia. The deal looks like a good one to me and is expected to be 10% accretive to earnings in FY 2019.
