Two days of solid gains on the ALL Ordinaries (Index: ^AORD) (ASX: XAO) have come to an end, with the market down 1.1%. US markets closed flat overnight after a volatile, rollercoaster ride.
In the Top 20, most stocks finished in the red, dragged down by the big four banks, all down more than 1%.
These 4 stocks posted solid gains…
Prophecy International Holdings Limited (ASX: PRO) share price rocketed up 10% to $2.10. Prophecy is a recently-listed software development company, with products designed to protect IT systems. Shares are up 27% in the past week and 61% in the past three months. News of the hacking of department store retailer David Jones' system today shows how important security is.
Liquefied Natural Gas Ltd (ASX: LNG) ("LNGL") share price jumped 5.2% to $1.40, despite oil prices falling 1.4% overnight. LNGL is developing a liquefied natural gas export plant in the US and has plans for another in Canada, but concerns have been raised over the US project, with two major oil & gas companies deferring their LNG projects, citing lack of buyer demand. LNG has also failed to sign a number of significant deals to indicate the project is on track.
Cedar Woods Properties Limited (ASX: CWP) share price rose 4.6% to $4.30. The West Australian-based property developer has expanded into Victoria and Queensland but has also seen its share price sink by 40% over the past year. At current prices, it looks cheap, with a trailing P/E ratio of under 8x and a fully franked dividend yield of 6.6%. Are bargain hunters jumping on board?
Metcash Limited (ASX: MTS) share price gained 2.3% to $1.11, perhaps as concerns over its demise mellow. As we wrote earlier this week, Metcash is unlikely to disappear, despite intense competition from the two majors, ALDI and Costco, and has plenty of levers to ensure it maintains or even grows its market share.
