The ASX All Ordinaries Index (ASX: XAO) contains the top 500 listed companies by market capitalisation. Similar to the S&P 500 Index (NYSE: SPX), it is the index quoted daily on the news to represent the financial health of the country.
Already the index has risen about 16% since mid-June, mirroring the rise of the US market. This past week had some great winners, and here are the top four.
McPherson's (ASX: MCP), marketer of personal care, non-electrical housewares and household consumables, had a stellar week, rising 22% over the past five days. The share price has been trending down since August 2011, finally hitting a bottom in June this year when it gave a falling earnings guidance of the after tax profits from its continuing businesses. Specialist Australian equities fund manager Investors Mutual more than doubled its stake in the company last week, and now holds about 10.2% control. This followed the announcement of two acquisitions for its health & beauty and home appliances divisions.
Maxitrans Industries (ASX: MXI), manufacturer and supplier of semi-trailers and road transport equipment, climbed 15% over the week to $1.21. It more than doubled its net profit after tax in 2013 from $12.5 million to $26.2 million. In mid-October, it and similar vehicle parts maker ARB Corporation (ASX: ARP) both fell suddenly when market sentiment was that the mining slump would have a knock-on effect of less demand for off-road and transport vehicle parts. After the drop, both companies have been rallying in share price.
Maverick Drilling and Exploration (ASX: MAD) had a 14% rise, ending at $0.545 a share. Although based in Australia, this oil company's wells are in Texas, USA. Starting in January 2012, the share price rose from $0.20 to $1.48, only to slide back down over this past year to about $0.30. In October, it announced that four new additional rigs were being set up on its well sites, with the first ones producing by November. This excitement sent the share price up to where it is now.
Australian Infrastructure Fund (ASX: AIX) is a diversified transport infrastructure fund, which specialises in airport assets. Its price flew up 14% to $0.008 per unit. For 2013, the fund paid out a special cash return of about $3.19 per unit, after the sale of its assets in a transaction with the Future Fund. There was a further payment made to security holders in October, and a further meeting will be held possibly in December to discuss remaining net tangible assets and post-restructure activities.
