3 ASX stocks that jumped 10% today

ASX puts on modest rise, but these three all added more than 10%

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The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has climbed 0.6% to close at 4,361.4, following mild gains on Wall Street on Friday. The Dow Jones Industrial Average rose 0.4%, while the S&P 500 added 0.5%, on hopes that US politicians will be able to navigate away from the looming fiscal cliff.

The Australian dollar was up against the US dollar, currently buying 103.6 cents.

These three stocks were the best performers in the ASX 200 index, rising more than 10%.

Lynas Corporation Limited (ASX: LYC) jumped 14.4% to 63.5 cents, after the company got good news on two fronts. The rare earths miner and (hopeful?) producer completed the first leg of a $200 million capital raising, which should see it through to when (or should I say if?) it starts production at its Malaysian rare earths refinery in March next year. Today was also the first day of trading after the Malaysian Supreme Court dismissed an appeal that would stop the company from starting up operations.

Iron ore miner, Aquila Resources Limited (ASX: AQA) added 10.7% to close at $2.38, despite recent investor concerns that its West Pilbara flagship iron ore project will be built. News that Kerry Stokes' Iron Ore Holdings (ASX: IOH) has applied for a 20 million tonne a year multi-user port facility at Cape Preston, may have contributed to the rise. Aquila originally wanted to build a port there, but land access issues meant the company had to look elsewhere. News that IOH may now get access to the land is likely to have been seen as positive for Aquila.

Billabong International (ASX: BBG) climbed 10.1% to 81.5 cents, after the head of the company's US business announced that he was stepping down from his role for six weeks while he investigates financing to buy out the company. That's the fourth time this year Billabong has received a change of control submission, as I explained earlier today.

If you only invest in one company this year, make it our "Top Stock for 2012-13". Operating in two hot markets — one set to double by 2012, the other predicted to grow 5x over the next five years — this stock is a solid growth play that also boasts strong recurring revenue, zero debt, and lots of cash. Get its name and full research case in this brand-new FREE report.

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Motley Fool writer/analyst Mike King owns shares in Billabong. 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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