The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has closed the day virtually where it started. It seems many investors are sitting on the sidelines waiting to see what’s happening with the US Central Bank and whether US interest rates are likely to go up earlier or later.
The US Federal Reserve meets tonight, and a decision on US interest rates is expected early Thursday morning, Australian time.
Still, a flat result for the market doesn’t mean every stock also did nothing. Here are 5 stocks that soared today…
Mirabela Nickel Limited (ASX: MBN) climbed 32% to 16.5 cents, and the nickel miner has seen its share more than triple in the past month alone, despite a number of headwinds, including falling nickel prices. Still, Mirabela appears little more than a speculative punt, having disappointed investors numerous times in the past with dilutive capital raisings and share price falls.
Novogen Limited (ASX: NRT) rocketed up 20.6% to 20.5 cents and has now climbed more than 86% since the start of this year. Today the company announced that one of its drug candidates, Anisina, appears to be a successful anti-cancer treatment. Novogen says it is aiming to bring Anisina into the clinic in 2016 to treat both adults and children.
CTI Logistics Limited (ASX: CLX) gained 15.2% to $1.44, although the company released no news whatsoever. CTI provides transport, logistics, security, quarantine and fumigation services but has been struggling with falling revenues due to exposure to the taper off in the mining boom. As a result, CTI is looking to diversify its business further, and has recently announced that it was about to commence due diligence on a number of opportunities in the eastern states.
Covata Ltd (ASX: CVT) soared 9.2% to 35.5 cents. The data security firm announced today that in conjunction with its partner NSC Global and telco T-Systems, it had executed a contract to distribute its Safe Share product within the T-Systems marketplace and to Deutsche Telekom’s customers more broadly. Around 7,400 clients will be able to subscribe to Covata’s product Safe Share.
Yowie Group Ltd (ASX: YOW) closed 8.9% higher, at 60 cents, after announcing a positive update to the market on its sales and distribution progress in the US market. Colleague Tom Richardson covered the story in more detail here. Needless to say, this is a good story so far for a small Aussie outfit.
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