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3 ASX stocks that beat the market on Friday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell by 0.2% on Friday, to close at 4,285.1 points. Some of the junior resource miners look like they are recovering, after being heavily oversold with news that Chinese authorities have moved to stimulate their economy should help these stocks in the short term. China has lowered the amount of reserves its banks must hold by 0.5 per cent, in an effort to increase capital flowing through its economy.

Mirabela Nickel Limited (ASX: MBN) rose 28.9% to 33.5 cents, after chief Ian Purdy declared the company’s debt position as “rock solid”, and opined the heavy recent selling was “unexplainable”. Mirabela’s share price has fallen 40% in the last week, as investors worry about the company’s ability to keep operations running. Mr Purdy has told the Australian Financial Review that he thinks there’s some irrational trading going on. We Fools know that markets are not always rational.

Ramelius Resources Limited (ASX: RMS) up 10.6% to 52 cents, its second 10% rise in 2 days, after heavy selling in the stock in the last month, as I discussed in this article.

Perseus Mining Limited (ASX: PRU) up 6.3% to $2.52, following a rise of 7.7% on Thursday, another resources stock recovering after seeing its stock price fall from a $4 high back in September 2011, down to as low as $2.12.

Other winners

Energy World Corporation Ltd (ASX: EWC) up 5.6% to close at 47 cents as it revealed further developments on its Sengkang LNG project in Indonesia. Hastings Diversified Utilities Fund (ASX: HDF) was up 4.5% to $2.11, on news that APA Group (ASX: APA) plans to sell the Moomba Adelaide Pipeline System to help win regulatory approval for its bid for Hastings.

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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).Authorised by Bruce Jackson.

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