Australian shares are trading mostly higher today thanks to a solid performance from the mining and banking sectors. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has emerged from a "technical correction" to trade 0.6% higher for the day, with a number of Australia's most widely-held companies generating particularly strong returns.
REA Group Limited (ASX: REA) is one such company. After selling the stock down as much as 8% following yesterday's earnings results, investors appear to have come around with the stock trading 6.9% higher today. REA Group reported a strong rise in revenues and an even greater lift in profits, highlighting a significant improvement in earnings margins. The stock is trading at $44.03 today and could be a great prospect for long-term investors.
Flight Centre Travel Group Ltd (ASX: FLT) is also flying higher today with its shares up 6.1%. The lift comes after the group said it had appointed Adam Campbell as its new Chief Financial Officer (CFO). Campbell has spent nearly nine years in senior finance roles with the company and was promoted from his position as CFO of the group's Australian business.
Fairfax Media Limited (ASX: FXJ) is also an unlikely inclusion amongst the market's top performers. The stock has fallen considerably over the last three months, but enjoyed a 6.4% lift following its full-year earnings statement. Although the media group's profit declined compared to the 2014 financial year, the result possibly wasn't as bad as the market expected which would explain today's jump.
Sirtex Medical Limited (ASX: SRX) rose as much as 14.6% early in the session but has since retreated to $32.73 – up 9% for the day. The innovative cancer treatment specialist posted a net profit of $40.3 million on $176.1 million of revenues – a lift of 69% and 36% respectively on the prior year. This was driven by a 19.8% lift in dose sales of its SIR-Spheres and a strong US dollar.
Of the companies mentioned above, Sirtex, REA Group and Flight Centre could all make for reasonable additions to your portfolio. If I had to choose one however, it would be REA Group following its solid earnings results yesterday, and its huge potential to continue expanding over the coming years.
