The 3 best performing stocks on the ASX today

ASX rises just 0.1%, but these three added more than 4.5%

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »