MENU

3 ASX stocks that trounced the market on Tuesday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) rose 46.4 points, or 1.1% to close at 4,114 yesterday on the back of renewed optimism that Greece will remain within the Euro.

These three industrial stocks all cleaned the market’s clock, closing up more than 10%.

Linc Energy Ltd (ASX: LNC) jumped 14.9% to close at 81 cents, following on from a 15.6% rise on Monday, as buyers may believe they have spotted a bargain, with the share price down from a high of over $3 a year ago. The company recently advised the ASX that it believed the share price, at that time around 61 cents, was multiples below the price that the company estimates it should trade. Looks like investors believe the company as well.

Global Construction Services Limited (ASX: GCS) rose 15 cents, or 12% to close at $1.40. ) The company is currently trading on a P/E of 6.5 and paying a dividend yield of 6.4%, at today’s price of $1.36. The group, which provides scaffolding and other construction equipment, has seen its share price hit due to ongoing concerns about Australia’s subdued housing market and construction projects delayed or cancelled. It’s an unloved sector of the market, and GCS could well be worthy of further research.

United Overseas Australia Limited (ASX: UOS) climbed 10.5% to close at 42 cents. Trading on a P/E ratio of less than 5, and paying a dividend yield of around 5%, this Malaysian investment property owner appeared on this recent screen for value shares that meet Benjamin Graham’s criteria. The stock is also trading at less than half its book value. Despite the 10% rise yesterday, UOS still looks cheap. You can also read an update my colleague Peter Phan wrote today on UOS here.

Other notable industrials rising yesterday included two mining services companies, Ausenco Limited (ASX: AAX) up 8% to $3.66 and WDS Limited (ASX: WDS) up 8.3% to close at 45.5 cents. Jetset Travelworld Limited (ASX: JET) rose 7% to close at 38 cents and Vocus Communications (ASX: VOC) rose 6% to finish at $1.845.

If you’re in the market for some less risky, 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 Ausenco and Vocus. 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.

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.