The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back most of yesterday's gains and is on course to finish the week on a disappointing note. At the time of writing the index is down 1% to 5,578.5 points.
Four shares that have defied the market and pushed higher today are listed below. Here's why they are ending the week on a high:
The Bionomics Ltd (ASX: BNO) share price has climbed 6% to 10.5 cents after the biotech company announced the commencement of an experimental phase II clinical trial. In combination with Bristol-Myers Squibb's nivolumab, Bionomics will trial its cancer drug candidate, BNC105, in patients with metastatic colorectal cancer. The Australasian Gastro-Intestinal Trials Group is sponsoring the trial which is being supported by Bristol-Myers Squibb.
The Healius Ltd (ASX: HLS) share price has pushed a further 1.5% higher to $2.75. Yesterday Healius, formerly known as Primary Health Care, revealed that it has received a non-binding indicative acquisition proposal from Jangho Hong Kong Limited. An indicative offer of $3.25 cash per share has been made, though the Healius board is not yet in a position to recommend it.
The iSelect Ltd (ASX: ISU) share price has risen 5.5% to 77.5 cents despite there being no news out of the price comparison website operator. However, last month Innovation Holdings increased its stake in the company to 22.6% from 19.6%. Investors may believe this is a sign that a takeover approach is coming in the near future. Innovation Holdings is the company behind rival Compare the Market.
The Newcrest Mining Limited (ASX: NCM) share price is up 3% to $23.32. Australia's gold miners have been on the charge today after volatile markets led to a jump in the gold price overnight. The spot gold price is up 0.7% to US$1,289 an ounce over the last 24 hours. The S&P/ASX All Ords Gold index is up a sizeable 2.3% today.
