Australian shares are trading mostly higher today following a solid run for international equity markets overnight as China's sharemarket regained some composure. While the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) is up 1.1%, these four stocks are generating even stronger returns.
Fortescue Metals Group Limited (ASX: FMG) surged more than 7% earlier in the session to a high of $1.875 and it is still carrying a gain of 5.5% by mid-afternoon. The iron ore miner is benefiting from a 2.1% rise in the iron ore price overnight with the commodity now fetching US$53.45 a tonne, according to the Metal Bulletin.
Retail Food Group Limited (ASX: RFG) recorded a 5.1% gain with its shares trading just below $5.25. The company, which owns brands such as Pizza Capers and Gloria Jean's, has generated enormous returns for investors over the last decade but has fallen considerably in recent months as some investors question its future growth prospects. At its current price however, it seems that others are recognising the fantastic opportunity.
Metcash Limited (ASX: MTS), on the other hand, has developed a reputation for destroying shareholder value. Indeed, its shares are down more than 60% over the last 12 months as it continues to struggle against rivals such as Woolworths, Wesfarmers and Aldi. However, it has recently appointed two new senior executives to guide something of a turnaround. The shares have risen 5% today but remain near a 14-year low price at roughly $1.10.
Catapult Group International Ltd (ASX: CAT) shares jumped 5.9% to trade at $1.35 late in the session. Catapult is a global sports analytics company that creates devices to monitor and track an athlete's performance. It has surged in price since its December initial public offering and, in my opinion, still offers value today.
Prophecy International Holdings Limited (ASX: PRO) is another technology stock generating enormous returns for investors. In fact, the stock is up 5.3% today and 324% since the beginning of 2015. Prophecy sells a software program known as 'SNARE' and recently announced that sales had grown by more than 200% compared to 2014.
