The Australian sharemarket has defied the dismal lead set by international equity markets overnight with Australian shares trading generally higher today.
The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to deliver a 0.6% rise to trade at 5453 points after briefly falling below the 5400 point threshold earlier in the session, giving investors a much-needed chance to catch their breaths.
Here are five stocks that are performing particularly strongly today…
Kathmandu Holdings Ltd (ASX: KMD) has been the market's top performing stock, rising an incredible 25% to $1.562 per share. The New Zealand-based retailer confirmed that a takeover offer was imminent after fellow retail business, Briscoes Group, increased its shareholding in the business to 19.9%. The stock hasn't traded this high since March.
Tassal Group Limited (ASX: TGR), a leading Australian salmon producer, rose 6.4% to trade at $3.32 after it extended its retail supply agreement with Woolworths to supply its stores in Queensland, New South Wales and Western Australia for a further three years. Tassal will also supply to Aldi through De Costi Seafoods. You can read more about that arrangement here.
Qantas Airways Limited (ASX: QAN) shares took off after the airliner reported its traffic and capacity statistics for the month of May. The company said that its revenue seat factor was 75.7%, which represents an increase of 2.3% compared to the same month last year, while group domestic yields had also increased. The shares flew 4.2% higher as a result.
CuDeco Limited (ASX: CDU) shares rose a staggering 21.4%, climbing to their highest price since January before entering a trading halt at around 11:00am (Sydney time). The mining and exploration company requested the trading halt after shareholders voted to not approve the capital raisings proposed by the company – a decision obviously applauded by the market. The shares will likely reopen on Thursday in normal trading conditions.
oOh!Media Ltd (ASX: OML) staged a 4.5% increase with the shares rising to $2.57, despite the absence of any company-specific news. oOh!Media listed on the ASX late last year and has generated excellent shareholder returns in the time since and with reasonable growth anticipated for out-of-home advertising, that trend could certainly continue for the foreseeable future.
