In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a very disappointing note. The benchmark index is down 7.4% to 4,459.6 points at the time of writing.
Four shares that have not let that hold them back are listed below. Here's why they are pushing higher:
The Brainchip Holdings Ltd (ASX: BRN) share price is up 3% to 3.4 cents. This morning the provider of ultra-low power high performance AI technology announced a deal with Socionext. According to the release, the advanced SoC solutions provider for video and imaging systems will offer customers an Artificial Intelligence Platform that includes Brainchip's Akida SoC. Akida is an ultra-low power high performance AI technology.
The CIMIC Group Ltd (ASX: CIM) share price is up 1% to $19.85. Investors have been fighting to get hold of the engineering company's shares in recent days due to takeover speculation. This follows news that HOCHTIEF Group has recently increased its holding in the company to 74.13%. HOCHTIEF is a leading German construction company based out of Essen.
The Newcrest Mining Limited (ASX: NCM) share price is up almost 4% to $22.58. Increasing demand for safe haven assets because of the market volatility appears to have been supporting this gold miner's shares on Monday. This afternoon the spot gold price is up 0.65% to US$1,494.20 an ounce.
The Saracen Mineral Holdings Limited (ASX: SAR) share price is up 3.5% to $3.07. As with Newcrest, increasing demand for safe haven assets like gold and the gold miners appears to be the catalyst for this share price gain. It isn't just Newcrest and Saracen that are pushing higher. At the time of writing the S&P/ASX All Ordinaries Gold index is outperforming the ASX 200 with a decent gain of 1%.
