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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).

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