The reporting season was kind to many of Australia's largest and most respected companies. As always, the best share price performance was seen in the blue chips that investors didn't expect much from.
Here are 10 ASX blue chips that smashed the market in February:
Toll Holdings Limited (ASX: TOL) shares rose 44% in February after the company's board recommended accepting a $9.04 takeover offer from Japan Post.
QBE Insurance Group Ltd (ASX: QBE) surged 23% to a one-year high after delivering full-year earnings that slightly missed expectations but offered a glimpse of a brighter 2015.
Macquarie Group Ltd (ASX: MQG) rocketed 22% higher on the back of an incredible 20% leap in full-year profit.
Materials companies also performed admirably with Fortescue Metals Group Limited (ASX: FMG) leading the pack at a 20% improvement over the month as a result of a stronger iron ore price and reasonable earnings for the first half. BHP Billiton Limited (ASX: BHP) also surprised with a 17% rise following better-than-expected earnings and a healthy outlook.
Shareholders of natural gas company APA Group (ASX: APA) were rewarded with a 19% lift in the share price following a $30 million upgrade to full-year profit guidance on the back of improving gas demand on the east coast.
Building products group James Hardie Industries plc (ASX: JHX) reported an 8% drop in net profit for the nine months ended 31 December 2014, but still managed to register an 18% share price rise after management guided to a full-year profit rise.
Shares of financial groups ASX Ltd (ASX: ASX) and AMP Limited (ASX: AMP) rose 17% each after boosting first half profit and increasing the dividends paid to investors. Companies that increase dividends were generally rewarded by investors in search of income above the 3% offered by term deposits.
Finally, Qantas Airways Limited (ASX: QAN) shares rose a further 16% in February to reach $2.90, a 4-year high and a level that looks dangerously risky in this investor's opinion.
The Next Best Option
Why wait for these companies to return to reasonable levels when you could invest in a great company that is expected to rebound in the next six months?
