The Motley Fool

3 ASX stocks that beat the market last week

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell by 5.6% last week, to close at 4026.5, as ongoing issues in Europe continue to dog the market.

These three stocks managed to top the S&P / ASX 300 Index (Index: ^AXKO) (ASX: XKO) list of risers, although takeover offers certainly help.

Industrea Limited (ASX: IDL) rose 45.6% to close at $1.23, after receiving a takeover offer from US giant General Electric (NYSE: GE), valuing the shares at $1.27. Mining equipment manufacturers appear to be all the rage, with Danish company FL Smidth taking over Ludowici Limited (ASX: LDW) in March 2012, and Essa Australia Limited (ASX: ESS) in 2011. Could Bradken Limited (ASX: BKN) be next?

Hastings Diversified Utilities Fund (ASX: HDF) was up 12.8% to close at $2.38, after receiving two bids for the business. Pipeline Partners Consortium made a bid of $2.38 a share on Tuesday, trumping rival APA Group’s (ASX: APA) bid of $2.06. Investors are obviously hoping for a higher bid, with the share price closing higher than the latest bid.

Buru Energy Limited (ASX: BRU) gained 5.4% to close at $2.75, continuing its strong run over the last 6 months. The share price is up 150% since November 2011, thanks to the first significant oil discovery in the Canning Superbasin of Western Australia since the 1980s. The oil field appears large and therefore has potential to contain significant reserves. Buru holds over 83000 square kilometres over the most prospective parts of the Superbasin. An independent assessment 2 weeks ago estimates that the Valhalla area of the Superbasin could hold up to 15 trillion cubic feet of gas and 432 million barrels of liquids.

Other notable risers for the week included Growthpoint Properties Australia (ASX: GOZ) up 4% to $2.15; Australian Agricultural Company Limited (ASX: AAC) up 2.5% to $1.24 and STW Communications Group Ltd (ASX: SGN) up 2.1% to 96 cents.

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 doesn’t own shares in any companies mentioned. 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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more