Motley Fool Australia

Why these 4 ASX stocks are soaring higher today

rocket

Australian shares have defied international concerns and crashing commodity prices with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) trading just 0.2% lower late in the session. Earlier, the index crashed as much as 1.6% but has since rebounded in a recovery led by the nation’s biggest miners.

Here are four stocks that are delivering the goods for investors today…

Fortescue Metals Group Limited (ASX: FMG) is trading 3% higher, despite a crushing 10% fall in the iron ore price overnight. It’s possible that investors are speculating that iron ore has been sold off too heavily over the last 10 trading sessions and are thus positioning their portfolios for a sudden rebound.

Newcrest Mining Limited (ASX: NCM) rose 1.9% following a 0.6% rise in the price of gold overnight, according to the Fairfax press. Gold is often seen as a ‘safe haven’ amongst investors during times of elevated economic uncertainty, which could explain Newcrest’s strong performance today.

Webjet Limited (ASX: WEB) lifted another 5.3% higher today, following yesterday’s incredible 11.1% rally. The company announced 41% growth in Total Transaction Value (TTV) for the six months ended 30 June 2015, compared to the prior corresponding period. In addition, the company also reaffirmed its guidance of $27 million earnings before interest, tax, depreciation and amortisation (EBITDA) for the year, giving investors a burst of confidence for its future potential.

Orthocell Ltd (ASX: OCC) has risen 5.3% after the bio-therapeutic company announced it has received an Australian Research Council grant of $430,000 to further investigate tendon tissue and develop novel therapies. The group is focused on regenerating mobility for patients by developing products for a variety of tendon, cartilage and soft tissue injuries.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Related Articles…

Latest posts by Ryan Newman (see all)