MENU

The 3 best performing stocks on the ASX today

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has added just 0.1% today, ending at 4,777.5, a nineteen-month high, after a quiet day on the market. That follows the US Dow Jones Industrial Average hitting a five-year high last week, as investors may have finally realised that the sky is not falling as suspected.

The Australian dollar is flat against the US dollar, currently buying around 105.1 US cents.

These three stocks were the best performers in the ASX 200, rising more than 4.5%.

Ten Network Holdings Limited (ASX: TEN) climbed 9.5% to end at 34.5 cents. The rise could have been spurred by investors looking for beaten-down stocks with turnaround potential. After recently raising capital, which will be used to pay down debt, a fair amount of downside risk has been lifted from the company. A couple of hit shows could be all the company needs to re-cement its place alongside its commercial network competitors, Nine and Seven.

Downer EDI Limited (ASX: DOW) added 4.5%, closing at $4.38. The engineering and infrastructure management services company has been winning contracts recently, and after years of issues with its Waratah train project, now appears to be on track. After suspending dividends in 2011, we could see Downer return to paying dividends in 2013, if analysts’ forecasts are correct.

FKP Property Group (ASX: FKP) continues its recent share price run, also rising 4.5% and closed at $1.615. FKP has risen more than 22% over the past five days, as the property company goes through the process of re-inventing itself. A planned float of its retirement assets is in the wings, while FKP is also targeting a reduction in its overheads of 10%.

In the market for high yielding ASX shares? Get three “Rock-Solid Dividend Stocks” in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!

More reading

Motley Fool writer/analyst 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.