The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has fallen 14.6 points, or 0.3%, to 4,490.7 today, despite big falls in global markets overnight. In the US, the Dow Jones Industrial Average fell 0.8%, while the S&P 500 fell 1%, on the back of falling technology stocks.
Most European markets fell, with the UK’s FTSE 100 dropping 0.5%, after European Central Bank chief Mario Draghi said that while Greece was making progress on reforming its economy, “the road ahead is still long and it’s uphill”.
The Australian dollar is currently buying around 102.1 US cents, potentially boosted by a rise in iron ore prices.
These three stocks went against the tide and saw positive gains.
Qantas Airways Limited (ASX: QAN) rose 3.5% to close at $1.33. According to media reports, speculation that the company might demerge its frequent flyer business continues to do the rounds, and that may have had something to do with the rise today. The fact that two Qantas planes almost collided over Darwin last week, didn’t seem to dampen investors’ enthusiasm.
Woodside Petroleum (ASX: WPL) added 1.6% to end at $34.10, as crude oil prices rose overnight. Australia’s largest independent oil and gas producer has seen its share price rise by over 4% since Monday. Japan’s decision last month to phase out nuclear power, could see Australian LNG producers benefit. More than $180 billion has been invested in LNG projects in Australia, which has put us on track to become the world’s largest exporter by 2020.
Senex Energy (ASX: SXY) rose 5.4% to close at 68 cents, after the oil and gas explorer and producer announced that it had had another drilling success at its Snatcher oil field, in South Australia – which is 40% owned by Beach Energy Limited (ASX: BPT). The new well appears to confirm that the Snatcher oil field extends to the north. (In other words, Senex seems to have a decent sized oil field on its hands). Senex is currently targeting oil production of 1 million barrels in 2012/13.
If you are just looking for ASX investing ideas, look no further than our brand new free report: The Motley Fool’s Top Stock for 2012-13. In this free report, Investment Analyst Scott Phillips names his top pick for 2012-13…and beyond. Click here now to find out the name of this small but growing software company with huge potential. But hurry – the report is free for only a limited period of time.
- IMF raises recession risk
- Should I buy BHP Billiton?
- Two top dividend stocks on our radar
- The end of the Australian car industry?
- The iPad mini is coming, 10 million of them
Motley Fool writer/analyst Mike King owns shares in Woodside Petroleum. 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.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
- Why PWR Holdings Ltd could see its share price rise from here – July 21, 2017 12:11pm
- Fortescue Metals Group Limited share price sinks on native title decision – July 20, 2017 4:23pm
- 5 overlooked finance shares to add to your watchlist – July 20, 2017 2:33pm