Yesterday’s top 3 ASX 200 climbers


The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) managed to rise just 0.2% to close at 4,132.4 yesterday on speculation of further stimulus from the US central bank.

Despite the flattish market, these three stocks beat the index by more than 4% yesterday.

BlueScope Steel Limited (ASX: BSL) rose 6.6% to 32.5 cents, as the stock continues to recover from a 52 week low of 25.5 cents, set in early June 2012. The company is reducing its debt and selling off non-core assets, as it tries to recover from multiple headwinds, including a high Australian dollar, cheap imported steel, a potential $201m tax bill and high levels of debt.

CuDeco Limited (ASX: CDU) was up 4.9% to $3.24. The copper miner expects to start production in 2012/2013 from its Rocklands Group Copper Project in Queensland. According to the company, it’s one of the richest copper mines in the world, and due to the high occurrence of cobalt, a “world class copper cobalt deposit”.  The company is targeting a profit of between $270m and $650m per year, assuming a copper price of A$4 per pound (currently trading around A$3.8) and depending on its ore grades. With plenty of cash in the bank, CuDeco could be one to watch.

Bathurst Resources Ltd (ASX: BTU) put on 4.7% to 45 cents, continuing its daily yo-yo performance. The coal producer is still trading close to one-year lows as it faces more than a few obstacles. Slowing demand from China for coking coal, and environmental action in New Zealand are just two of the headwinds the company needs to overcome.

Other stocks rising include Southern Cross Media Group Limited (ASX: SXL) up 4.6% to $1.26 and APN News & Media Limited (ASX: APN), up 4.3%.

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Motley Fool contributor Mike King doesn’t own shares in any companies mentioned. The Motley Fool‘s purpose is to help the world invest, better. Take Stock is The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it’s still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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