ASX Midday Hot Stocks: ANZ, Lynas and Atlas

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) is up slightly, at 5,204.9 in midday trading, after a bumpy ride since the open. News that Australia’s unemployment rate dipped by 0.1% to 5.5% has failed to spur the market higher, with some economists questioning the accuracy of the data (not for the first time this year either).

Here’s why these three stocks are hot right now.

ANZ Bank (ASX: ANZ) has dropped 0.9% to $30.46, as the shares went ex-dividend. ANZ released its half year results on Monday, and declared a 73 cent dividend, payable on July 1. The bank reported a $3.2 billion cash profit and lifted the dividend by 11%. Just what investors looking for yield wanted.

Atlas Iron Limited (ASX: AGO) is being heavily traded, with more than 13 million shares changing hands by midday. Currently trading around $1.00, Atlas has lost close to 3% in trading today. Yesterday, giant miner BHP Billiton reiterated its view that the iron ore price was going to head lower. Smaller miners like Atlas could face problems, as they are much higher cost producers compared to giants like Rio, Vale and BHP.

Lynas Corporation (ASX: LYC) is up 6.7% to 64 cents, most likely still seeing gains following a positive political result for the company in Malaysia. The opposition party had threatened to close Lynas’ rare earths processing plant, but the re-election of the ruling coalition means one less hurdle stands in the company’s way.

In the market for high yielding ASX shares? Get “3 Stocks for the Great Dividend Boom” 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

The Motley Fool’s purpose is to help the world invest, better.  Click here now  for your free subscription to Take Stock, 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.  This article contains general investment advice only (under AFSL 400691). Motley Fool writer/analyst Mike King doesn’t own shares in any companies mentioned.

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.