4 ASX shares thumping the market today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has plunged 1.6% to 4,999.40 points today, after the ASX’s top financial companies were pummelled. Insurers, banks, and financial services companies were heavily sold off, while just the two big miners in the Top 20 managed to post a gain.

These four companies went against the trend and saw their share prices rise…

Recall Holdings Ltd (ASX: REC) share price rose 7.2% to $8.04 after Iron Mountain agreed to ACCC terms to sell most of its Australian business in return for the acquisition of Recall. Iron Mountain first initiated takeover talks in December 2014, and upped its offer to a cash offer of $8.50 per share limited to a maximum of $225 million or 0.1722 of an Iron Mountain share (currently trading at US$33.91). It now appears highly likely that the deal will go through.

Resolute Mining Limited (ASX: RSG) share price gained 5.6% to $0.57. The jump in the gold miner’s share price may be because CEO and managing director John Welborn purchased 350,000 shares (roughly 53 cents each) over the past week on the market. It’s usually said that directors (insiders) sell their shares for many varied reasons, but only buy for one. With gold trading at around A$1,630 an ounce and miners making a motza, I could see why.

IPH Ltd (ASX: IPH) share price added 5.2% to $6.87, it’s second-consecutive day of rises, after hitting a one-month low of $6.11on March 30. The intellectual property and patents firm had been sold off from a high of $9.43 in late February, with the valuation looking ‘stretched‘ at that point. At today’s price, shares are still trading on a trailing P/E of 31x according to Google Finance, and look expensive on that simple basis. But, if the company can continue delivering earnings growth of 75%, then investors are likely to be rewarded over the long term.

Fantastic Holdings Limited (ASX: FAN) share price rose 4.3% to $1.96 but is still down more than 11% since the start of the year. The cheap and cheerful furniture retailer recently appointed former Woolworths and Dick Smith executive Debra Singh as chief executive officer, but media reports suggest that larger shareholders are pushing for chairman and 40% owner Julian Tertini to take the company private. Ms Singh joined Fantastic in 2013, and media reports suggest an external candidate would not be keen to join a company that was going private.


Looking for more ideas?

Discover The Motley Fool's top 3 blue chips for 2016. These 3 'new breed' shares pay fully franked dividends AND offer the very real prospect of significant capital appreciation. Simply click here to gain access to this comprehensive FREE investment report.

No credit card required.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.