MENU

Why Rio Tinto Limited is among 4 shares powering higher today

The S&P / ASX 200 closed down around 0.4% today as investors continue to worry about the US / China trade war and potential impact of mid-term elections in the US. However, there are several well known shares heading higher to make for a happy start to the week for their investors. Let’s take a look at what might have been encouraging buyers of some today’s top performers.

The TPG Telecom Ltd (ASX: TPM) share price is up 3.3% to $7.77 today despite the home broadband and mobile phone services provider giving no news to the market. TPG recently announced an agreement to merge with Vodafone Australia in a deal that may be beneficial to both businesses given the potential cost savings. However, the competition regulator the ACCC is yet to approve the deal and approval is far from guaranteed, which is probably why the share price is seeing a lot volatility recently.

The iSentia Group Ltd (ASX: ISD) share price is up 4% to 26 cents today, but still down more than 70% over the course of 2018 alone. The rebound may be the result of bargain hunters buying shares in anticipation of the media monitoring business being able to turn its performance around. As at June 30 2018 the group’s net debt stood at $43.1 million after the disastrous acquisition of the King Content business that sunk its share price. iSentia is forecasting EBITDA in the “low to mid $20m range” for financial year 2019.

The Platinum Asset Management Limited (ASX: PTM) share price bucked the market trend to rise 1.35% to $5.27 today despite the international asset manager revealing no specific news to the market. The Platinum share price is probably rising on hopes the US and China are moving towards a trade deal that would see the removal of some US tariffs. Platinum is heavily exposed to Asian equities, some of which have been battered because of the dispute.

The Rio Tinto Limited (ASX: RIO) share price also moved 1.6% higher to $79.61 today, despite the Pilbara-based iron ore miner not releasing any specific news to the market. The iron ore price has been in an uptrend since August 2018 and shares in Rio have followed it higher. The group is also in the midst of a US$3.2 billion share buy-back that is likely supporting its share price.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Yulia Mosaleva owns shares of TPG Telecom Limited. The Motley Fool Australia owns shares of Platinum Investment Management Limited. The Motley Fool Australia has recommended iSentia Group Ltd and 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 Scott Phillips.

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.