The S&P / ASX 200 Index (index: ^AXJO) (ASX: XJO) saw a second day of gains, rising 0.7%, despite falls in the energy and gold sectors of more than 1%.
Many companies obviously did better than the index though. Here’s our view on four of them…
iProperty Group (ASX: IPP) gained 12.4% to $2.82, after REA Group Ltd (ASX: REA) announced that it was increasing its stake in the company from 17.2% to 19.4%. iProperty will issue REA Group 5 million new shares at $3.00 per share, in exchange for REA’s Hong Kong business, squarefoot.com.hk. iProperty now owns both the #1 and #2 property portals in Hong Kong.
Panorama Synergy Limited (ASX: PSY) surged 10.9% higher to 35.5 cents, but shares are still down more than 14% in the past month. As I mentioned earlier this month, Panorama shares have soared 4,775% since October 2013. You can read more about the company here and why investors are going all hot and sweaty over the company.
Capitol Health Ltd (ASX: CAJ) saw its shares rise 7.5% to 57.5 cents. Capitol owns and operates imaging centres in and around Melbourne and is slowly expanding its reach further out. Despite today’s rise, shares in Capitol are still down 8% over the past 5 business days, and some way below its 52-week high of 73 cents. It appears that bargain hunters have jumped in, after recent price falls.
Echo Entertainment Group Ltd (ASX: EGP) has gained 4.4% to $3.54, and is up more than 9% in the past month. The casino operator reported earlier this month that it had sold its Jupiters casino in Townsville for $70 million, as it prepares to focus on its Sydney, Brisbane and Gold Coast casinos. Echo is battling rival Crown Resorts Limited (ASX: CWN) in Sydney and potentially in Brisbane, with a new casino due to be built in the Queensland capital over the next few years.
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Motley Fool writer/analyst Mike King owns shares in iProperty and Capitol Health. You can follow Mike on Twitter @TMFKinga