The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has posted strong gains of 1.1% to close at 5,199.8. The Materials and Metals & Mining sectors posted the biggest gains, as the iron ore price recovered to US$130 a tonne, and China posted trade growth of 15.7% for April.
The Australian dollar is steady against the US dollar, buying 101.8 cents.
Here's why these three stocks are hot right now.
Seven West Media (ASX: SWM) rose more than 10%, after the company reported that 2013 financial year earnings would fall by between 2-4%, in line with analysts' forecasts. The market may have been expecting a worse result, as the advertising market faces tough conditions, affecting free-to-air broadcasters and publishers – with Seven West having a foot in both camps.
CSL Limited (ASX: CSL) suffered a 5.2% fall, closing at $59.61, after competitor Baxter failed in a trial to treat Alzheimer's disease. It was seen as a blow for CSL as well as Baxter, with both companies expected to benefit from the potential use of immunoglobulin treatments in Alzheimer's patients. Still, CSL had some good news last week when the US Federal approved CSL's drug Kcentra.
Dyesol Ltd (ASX: DYE) share rose an incredible 109% to 23 cents, after the company announced that had achieved a 'game changing' technical breakthrough by achieving a solid-state Dye Solar Cell (DSC) efficiency of 11.3% at full sun. At levels over 10%, the company's DSC technology becomes grid competitive – the "holy grail" for renewable energy technologies. The company now intends to rapidly move from the laboratory to the production line.
With its legendary, fully franked 28 cent dividend, Telstra is the darling of Aussie investors. Chances are even if you don't own Telstra shares directly, your superannuation fund does. But with its share price skyrocketing over the past year, is Telstra past its prime? Click here to find out whether to buy, sell, or hold Telstra in this brand-new FREE report.
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