3 ASX stocks that climbed more than 5% yesterday

Despite the market fall, these three went against the trend

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The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell 0.4% yesterday to close at 4,013.8, as investors punished the big miners over the carbon and mining taxes, which come into effect from this Sunday.

These three stocks are unlikely to be materially affected by either tax, and all managed to rise by more than 5%.

Billabong International Limited's (ASX: BBG) shares recovered 6.3% to close at $1.02, following a 48% fall on Monday. The rise was most likely underpinned by investors hoping a white knight will make a takeover offer for the surfwear group. Majority shareholder, Gordon Merchant has said that he would likely support a takeover offer for the company, should one arise in future, and that he would be willing to accept less than the $4 price tag he wanted back in February.

AP Eagers Limited (ASX: APE) rose 5.4% to close at $3.30. The company operates motor vehicle dealerships for 28 car brands and 12 truck and bus brands, throughout Eastern Australia and Darwin. What you may not know is that the company has paid a dividend every year since listing in 1957. It's just a pity that the company has very thin profit margins and too much debt for my liking — illustrated by 2011's profit of just $40m on revenues of almost $2.4bn, and a net debt to equity ratio of over 100%.

Ainsworth Game Technology (ASX: AGI) saw its share price rise by 10 cents to $2.06, a climb of 5.1%. The poker machine maker has seen its share price rise by more than 350% in the last six months, but is still trading on a prospective P/E ratio of around 8.0, based on consensus forecasts.  By comparison, Aristocrat Leisure Limited (ASX: ALL) currently trades on a prospective P/E of around 13.5, which suggests either Ainsworth is cheap, or Aristocrat is expensive!

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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.

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