The ALL ORDINARIES (INDEXASX: XAO) (ASX: XAO) has closed down 0.4% at 5,556.8, for a 1.7% loss for the week. Interestingly, the Australian dollar has also slipped below US 73 cents.
It has been a dismal week for resources stocks – commodities prices continue to crash, as I mentioned earlier today. BHP Billiton Limited (ASX: BHP) dropped 7% this week as investors abandon ship.
However, it wasn't all bad news on the market today. These 5 stocks managed to post strong gains…
Retailer Noni B Limited (ASX: NBL) jumped 28.6%, or 20 cents to 90 cents, despite no official company news, although that was on just two trades worth $126,000. In September 2014, Noni B received a takeover offer at 51 cents per share from Alceon Group, but the offer closed with Alceon holding 77.5% of shares and 281 shareholders holding out.
Netcomm Wireless Ltd (ASX: NTC) soared 11% to 85.5 cents. Migrating from producing consumer routers and broadband devices, Netcomm is moving into machine-to-machine (M2M) communications. The company recently announced that it expect to see $73 million in revenues and $7 million in earnings before interest, tax, depreciation and amortisation (EBITDA) in the 2015 financial year, compared to $5.2 million last year.
1-Page Ltd (ASX: 1PG) added 8.4% to $2.71, and has now gained 117% since the start of this year. The Silicon Valley-based company provides employers with a new and easier way of finding and evaluating candidates for job positions. The company continues to sign up new prospective clients, adding 2 Fortune 100 companies just a few weeks ago.
Senetas Corporation Limited (ASX: SEN) gained 5.7% to close at 18.5 cents. The security hardware company has rocketed 243% higher so far this year. Colleague Matt Joass covered the company in detail in early June here. Soaring profits have helped. The company expects to see profit before tax at least double compared to last year.
While BHP was sinking, its demerged company South32 Ltd (ASX: S32) put in a good day, rising 2.9% to $1.775. Since listing at $2.05, South32 has seen its share price crumble, despite reports that it's a takeover target. The resources company focuses on a diverse portfolio of around 10 commodities, including alumina, energy and metallurgical coal, manganese, nickel, lead and silver. Giant resources company Glencore is reported to be keen on South32, although no offers have arrived just yet.
