The S&P/ASX 200 index has followed the lead of U.S. markets and dropped lower. At the time of writing the benchmark index is down 0.2% to 6,540.3 points.
Four shares that have defied the market and pushed higher today are listed below. Here's why they are on the rise:
AGL pulls the plug on Vocus deal.
The AGL Energy Limited (ASX: AGL) share price has pushed 2% higher to $19.90 after pulling out of a deal to acquire telco company Vocus Group Ltd (ASX: VOC). Following a short period of due diligence, the energy retailer wasn't convinced that the deal would add value for its shareholders. Judging by the share price gain, AGL's shareholders appear to be pleased with the decision.
Emeco continues its charge.
The Emeco Holdings Limited (ASX: EHL) share price has risen 9% higher to $1.93. The shares of the leading provider of equipment leasing to the earthmoving industry have been on the charge since providing a trading update last week. That update revealed that the company has continued to experience strong demand for its services and expects to deliver operating EBITDA in the range of $211 million to $213 million in FY 2019. This will be an increase of almost 40% on FY 2018's result.
Flinders Mines on fire.
The Flinders Mines Limited (ASX: FMS) share price has been on fire on Monday and is up 36.5% to 7.1 cents. This morning the company announced a board renewal and strategic path forward. In respect to the latter, Flinders has completed an internal review to identify the best path forward to progress the PIOP and unlock value for all shareholders. One of the potential options is the BBIG Project, which is associated with Flinders' largest shareholder, TIO (NZ).
Nanosonics compared to blue chip peer.
The Nanosonics Ltd (ASX: NAN) share price is up over 5% to $5.19 after the infection control specialist was compared to Cochlear Limited (ASX: COH). According to the AFR, the head of Australian equities research at Yarra Capital Management, Katie Hudson, believes Nanosonics shares a number of characteristics with Cochlear. These include a large addressable market, global technology leadership, and dual revenue streams.
