MENU

3 ASX stocks that beat the falling market yesterday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) plunged over 2% yesterday, thanks to a poor night on Wall Street, amid worries over French and Greek elections. Just seven stocks in the ASX 200 index managed to post positive gains. Here we take a look at the top three.

Cabcharge Australia Limited (ASX: CAB) rose 25 cents or 4% to close at $6.48, continuing its recent rise. In the last six months, the company’s share price has climbed by over 50%.

There doesn’t appear to be any catalyst for the rise yesterday, with no news or announcements. In March 2012, Cabcharge reported a 58% rise in net profit for the six months to December 2011. The company is virtually untouched by global market gyrations. It appears that investors regard it as a “safe-haven” stock and have piled into it in recent times.

Energy World Corporation Limited (ASX: EWC) rose 1 cent or 2.2% to close at 47 cents. EWC has received three ASX speeding tickets in the last four weeks, regarding falling prices. The company’s shares have fallen over 42% since 20th March 2012. Why the stock rose, who knows, but EWC remains a stock for gamblers only.

Dexus Property Group (ASX: DXS) also rose 1 cent or 1.1% to close at 94 cents and has risen 8% over the past month. Dexus announced earlier this month that it was selling 65 US industrial assets to Blackstone for US$770m, and will undertake a 5% or $200m buy back of shares. The company also announced that it is restructuring its US debt, which will reduce gearing by 6% to 26%.

Four other stocks posting rises were Telecom Corporation of New Zealand Limited (ASX: TEL), Ramsay Health Care Limited (ASX: RHC), BWP Trust Limited (ASX: BWP) and Resolute Mining Limited (ASX: RSG).

If you’re looking in the market for some high yielding ASX shares, look no further than “Secure Your Future with 3 Rock-Solid Dividend Stocks”. In this free report, we’ve put together our best ideas for investors who are looking for solid companies with high dividends and good growth potential. Click here now to find out the names of our three favourite income ideas. But hurry – the report is free for only a limited time.

More reading

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).

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!