After a strong start to the day, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is just a fraction higher at 5,724 points.
Four shares which haven’t let that hold them back are listed below. Here’s why they are climbing higher today:
The Galaxy Resources Limited (ASX: GXY) share price is up 4% to $2.78 despite there being no news out of the lithium miner. But with lithium demand expected to grow strongly over the next two decades, investors appear to see a lot of long-term potential in the company. I think Galaxy is one of the best shares in the resources sector at present.
The New Hope Corporation Limited (ASX: NHC) share price is up almost 3% to $1.83 following the release of its full-year results. The coal miner posted net profit after tax and non-regular items of $140.6 million, up 362% on the previous year. Looking ahead, management believes New Hope is in a strong position to service the growing needs of electricity producers in expanding Asian markets.
The TPG Telecom Ltd (ASX: TPM) share price has jumped 6.5% to $5.56 following the release of its full-year results. The telco company delivered EBITDA of $835 million, $5 million ahead of the top-end of its guidance range of $820 million to $830 million. Investors appear pleased with this and optimistic on its mobile plans. So much so they have looked beyond weak FY 2018 guidance and a sizeable cut to its dividend.
The Wellard Ltd (ASX: WLD) share price is up 8% to 13.5 cents after the agribusiness company announced the first shipment of beef cattle to China. According to the release, approximately 2,000 cattle will be loaded for the shipment from south east Australia for Rongcheng HCMH Trade and Service.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of TPG Telecom Limited. 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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