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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.

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).Authorised by Bruce Jackson.

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