In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a very disappointing note. At the time of writing, the benchmark index is down 1.7% to 7,184.3 points.
Four ASX shares that arenât letting that stop them from climbing today are listed below. Hereâs why they are pushing higher:
APM Human Services International Ltd (ASX: APM)
The APM share price is up almost 2% to $2.22. This morning, this human services company announced a new contract in North America worth $150 million. The new contract will see APM support phase two of the Ontario Employment Services Transformation.
Macquarie Telecom Group Ltd (ASX: MAQ)
The Macquarie Telecom share price is up almost 2% to $59.98. This is despite there being no news out of the telecommunication, cloud computing, cybersecurity and data centre services provider. However, it is worth noting that earlier this week, Goldman Sachs upgraded its shares to a buy rating with a $73.30 price target. It notes that the company is a â[p]ublic sector cloud & cybersecurity leader delivering robust, resilient growth.â
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 2.5% to $10.64. A number of ASX gold shares are rising on Friday, which has taken the S&P/ASX All Ordinaries Gold index 1.4% higher this afternoon. Investors may be switching to safe haven assets given the current market volatility.
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is up 2% to $8.32. With no news out of the company, this could also be down to investors looking to escape the volatility with safe haven assets. Impressively, this means that the Origin share price has defied the odds and hit a 52-week high today despite the market selloff.
The post Why APM, Macquarie Telecom, Northern Star, and Origin shares are rising today appeared first on The Motley Fool Australia.
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More reading
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- This ASX 300 director just loaded up on $2 million worth of her company’s shares
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended APM Human Services International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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