3 ASX stocks that beat the market yesterday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell by 0.2% on Thursday, to close at 4,157.4. For the week, the index is down 3.2%, with further falls coming on Friday.

The following three stocks managed to rise by 8.8% or more on Thursday.

Paladin Energy Ltd (ASX: PDN) was up 9.4% to close at $1.275, recovering from the 9% fall it suffered on Wednesday, after workers went on strike at its Malawi uranium mine. The company came to an agreement with workers to review salaries in six months’ time, if workers returned to work.

Saracen Mineral Holdings Limited (ASX: SAR) was up 9.3% to close at 47c. Saracen was another stock recovering from a fall the previous day. Saracen fell 10.4% on Wednesday. Did the underlying value of the company fall 10% and then rise 9% in consecutive days? I’d say not, which illustrates how the price of a stock can bear no relation to the performance of the company, and how irrational the market can be.

Regis Resources Limited (ASX: RRL) closed up 8.8% at $3.71, following five days of consecutive falls from $3.94 down to $3.41 on 16th May. Regis is yet another resource stock swinging wildly between big falls and rises on a daily basis. With continued uncertainty in the market, I expect these swings to continue.

Other notable risers include Senex Enrgy Ltd (ASX: SXY), up 8.2% to close at 79 cents, and OneSteel Limited (ASX: OST), up 7.7% to close at $1.05.

If you’re 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

Motley Fool contributor Mike King owns shares in Saracen. 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.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked…

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of The Motley Fool’s Top 3 Blue Chip Stocks for 2019.

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in a specially prepared FREE report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

See the 3 blue chip stocks

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.