The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has risen 0.6% to close at 4,531.5, after signs appeared that China’s economy was turning around. With no sign from the US that it was any closer to avoiding its fiscal cliff and weak local economic data, the market did well to rise today. Retail sales and houses prices were flat, while online job ads fell for the eighth straight month.
The Australian dollar has fallen against the US dollar, currently buying 104.1 cents.
These three stocks added more than 4%.
Imdex Limited (ASX: IMD) climbed 8.1% to close at $1.195. Imdex manufactures, sells and rents a variety of drilling fluids, chemicals and down hole instrumentation to the minerals and energy sector. The company has seen its share price hammered since April, falling 62%, over concerns that cancellation and postponement of resource projects could see the company struggle. A recent ASX ‘speeding ticket’ over the falling share price saw the company report that it had no new news, and that its first quarter of 2013 was only down slightly compared to the same period in 2012.
St Barbara Limited (ASX: SBM) added 4.6% to end on $1.71. The gold miner’s share price has become volatile since the end of October, essentially tracking the gold price. After producing over 330,000 ounces of gold in the 2012 financial year, St Barbara has forecast to produce around 380,000 ounces in 2013 from three mines, and has a number of additional projects under development.
Linc Energy Ltd (ASX: LNC) rose 4.4% to close at 72 cents after the company signed an agreement with South African company, Exxaro Resources, to jointly pursue Linc’s underground coal gasification (UCG) as a commercial business in Sub-Saharan Africa. Exxaro is the second largest coal producer in Africa. As part of the agreement, Exxaro will pay Linc fees for the use of the technology, and ongoing royalites on the gas produced.
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Motley Fool writer/analyst Mike King doesn’t own shares in any company 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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