Why these 4 shares are thumping the ASX today

Brexit has returned to the forefront of investors’ minds today causing the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) to fall more than 1% to 5,173 points.

Every sector, except the gold sector, has suffered today with the financials and energy sectors leading the market lower.

Despite the heavy selling, these four stocks have managed to post solid gains today:

Coca-Cola Amatil Ltd (ASX: CCL)

Coca-Cola Amatil shares have posted a surprising gain of 4.6% today despite no news being released by the company. It appears bargain hunters are taking the opportunity to pick up the shares following a period of relentless selling which started in mid-May. Investors have been concerned with the lack of growth the beverage maker has delivered in recent years and whether or not this may signal a long-term structural issue for the company.

Shares of Coca-Cola Amatil have fallen 7% over the past 12 months.


Evolution Mining is one of the best-performing gold stocks today with its shares increasing by more than 7% to $2.97. It, along with a number of other gold stocks, have made new 52-week highs today with the spot gold price hitting a two-year high overnight. Investors are rushing into the safe haven asset with global markets remaining spooked by Brexit and weak economic data. In addition to higher spot gold prices, Australian gold miners have become some of the most profitable in the world thanks to the falling Australian dollar.

Shares of Evolution Mining have surged more than 140% over the past 12 months.

Mineral Resources Limited (ASX: MIN)

Shares of Mineral Resources have climbed 1.4% higher today after the company announced a 160% increase in its Mt Marion lithium project reserves. Even though its lithium operation is far smaller than its core iron ore operations, the company has seen its share price rise by more than 150% since the start of 2016 as the hype around lithium gathered momentum. Clearly, today’s announcement is good news for investors who will be hoping Mineral Resources will be able to capitalise on the momentum in the lithium price.

Shares of Mineral Resources have gained nearly 47% over the past 12 months.

Adacel Technologies Limited (ASX: ADA)

Adacel Technologies shares have increased by 3.6% today to make a new 52-week high of $3.12. Interestingly, today’s trading volumes are much higher than normal even though the company has not released any news. For those investors unfamiliar with the company, it provides air traffic control and training software that is utilised in airports all around the world. Adacel has upgraded its guidance on several occasions over the past 12 months and it appears momentum investors have really taken a hold of the shares recently.

Adacel Technologies has been one of the best-performing stocks over the past 12 months with a share price gain of 438%.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. 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.

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