MENU

3 ASX stocks that beat the market on Wednesday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell 20.2 points, or 0.5% to close at 4,094.2 yesterday, as Europe’s woes continue to dampen enthusiasm for equities.

These three stocks went against the trend and closed up more than 3%.

Cabcharge Australia Limited (ASX: CAB) jumped 7.2% to close at $6.41, continuing its rise of more than 50% since October 2011. Cabcharge holds a virtual monopoly on mobile electronic taxi payment systems, as well as a stake inthe largest private bus and coach operator in Australia. Europe’s issues and a slow-down in China’s growth are unlikely to have any material effect on Cabcharge, possibly why investors have been flocking to the stock. A fully franked dividend yield of near 6% certainly helps too.

Bathurst Resources limited (ASX: BTU) rose 3.5% to close at 44 cents. Despite the rise yesterday, the stock is still trading near one-year lows, having fallen from $1.27. Fears of a slow-down in China’s demand for steel and coking coal have driven many coal-mining stocks down, Bathurst included. Despite the fears, analysts are overwhelmingly bullish on the stock with five out of six analysts rating the stock a ‘buy’ or ‘strong buy’. Bathurst is a New Zealand coal producer, and expects to produce its maiden profit in financial year 2013.

OneSteel Limited (ASX: OST) also climbed 3.5% to close at $1.04 as the stock continues to yo-yo. Just last week the stock fell by 8% in one day. Caught between investors seeking stocks trading at all time lows, investors shorting the stock, and captive to commodities prices, OneSteel is likely to continue its rollercoaster ride for a while yet.

Other notable stocks rising yesterday included Bendigo and Adelaide Bank Limited (ASX: BEN), which rose 2.6% to close at $7.40, and GWA International Limited (ASX: GWA), also up 2.6% to close at $1.99.

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 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!