The benchmark S&P/ASX 200 index has fought back from a heavy decline this morning but is still in the red in afternoon trade. At the time of writing the benchmark index is down 0.1% to 6,705.6 points.
Four shares that haven't let that hold them back are listed below. Here's why they have stormed higher:
The Beach Energy Ltd (ASX: BPT) share price has pushed 4.5% higher to $1.98 after oil prices finished the week on a positive note. Oil prices rose on Friday after Iran seized a British oil tanker, increasing tensions in an already volatile area. The good news for Australia's leading energy producers is that oil futures have continued to trend higher during Asian trade.
The FlexiGroup Limited (ASX: FXL) share price has jumped 10% to $1.82 after the financial services company provided an update on its buy now pay later platform, humm. According to the release, the company has added a total of 2,000 seller locations since May, bringing the total to 15,000 partners. New retailers on the platform include Temple & Webster Group Ltd (ASX: TPW), Bing Lee, Betta Electrical, Williams Sonoma, Pottery Barn, Jaycar, and 1300 Smiles Limited (ASX: ONT).
The Speedcast International Ltd (ASX: SDA) share price has risen over 5.5% to $1.90 despite there being no news out of the provider of remote communications and IT services. However, with Speedcast's shares down significantly this year, it appears as though bargain hunters may believe they have fallen to an attractive level.
The Splitit Ltd (ASX: SPT) share price has charged 8% higher to 54.5 cents after the buy now pay later company announced a major agreement in the Asian market. This morning Splitit announced a three-year partnership agreement with GHL ePayments to offer its instalment solution to more than 2,000 online merchants in Malaysia, Thailand, Indonesia, and the Philippines.
