The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) is up 0.1% at midday, at 5,217.1, with the Australian dollar staying below parity and currently buying 99.8 US cents. Companies driving the market appear to be those with significant offshore earnings – or those who will benefit from a lower exchange rate.
Here's why these three stocks are hot right now.
Dyesol Limited (ASX: DYE) is continuing its strong run, gaining another 7 cents, or 23% to trade at 37 cents. Last week the company announced that it had achieved a 'game-changing' technical beakthrough, with its solar cells now grid competitive – the holy grail for renewable energy. Additionally, Dyesol's products can be integrated into building products, such as windows, offering a new way of using its technology.
Aurizon Holdings (ASX: AZJ) ex-QR National, shares are up 1.6% on strong volumes to $4.41, after the company left the door open to acquire the remainder of the stake currently held by the Queensland government. Aurizon also announced that it was in talks to sell a minority stake in its rail tracks business, which could generate at least 1.3 billion in cash.
Aristocrat Leisure (ASX: ALL) is up 3.6% to $4.33, driven by the falling Australian dollar. Much of Aristocrat's earnings comes from overseas, with a heavy exposure to the US. Close to half of Aristocrat's revenues come from North America, which is more than double its Australian sales. A falling dollar will boost the company's results.
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