In afternoon trade the S&P/ASX 200 index is off its lows but is still on course to end the week on a subdued note. At the time of writing the benchmark index is down slightly to 6,712.8 points.
Four shares that haven't let this hold them back are listed below. Here's why they are ending the week with a bang:
The Bubs Australia Ltd (ASX: BUB) share price has charged over 4% higher to $1.24. Today's gain could be attributable to a broker note out of Goldman Sachs. Although the broker did not mention Bubs, its research showed very strong growth in infant formula sales on Chinese ecommerce platforms during the month of June.
The Comet Ridge Ltd (ASX: COI) share price has risen 4.5% to 24 cents following an update on its Galilee Basin seismic project. According to the release, the interpretation of seismic data identifies regional trends and multiple new leads at the project. It also provided confirmation of a closed structure at Lake Galilee, 24km south of Albany.
The Oil Search Limited (ASX: OSH) share price has raced 4% higher to $7.44. This gain appears to have been driven by a rise in the oil price during Asian trade. According to Bloomberg, the WTI crude oil price is up 0.5% to US$60.53 a barrel and the Brent crude oil price has climbed 0.5% to US$66.89 a barrel.
The Sheffield Resources Ltd (ASX: SFX) share price has rocketed 20% higher to 55 cents on Friday. Earlier this week the bulk minerals exploration company provided an update on its world class Thunderbird mineral sands project in the north west of Western Australia. That update revealed that management has updated its ore reserve estimate by 69 million tonnes to 748 million tonnes. This confirms Thunderbird as one of the largest undeveloped zircon-rich mineral sands deposits globally.
