The Motley Fool

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.

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