3 ASX stocks that beat the market yesterday

Averages don't tell the full story – here's 3 companies that beat the average yesterday

Mike King

Mike King is a Fool.com.au Investment Analyst and Writer. He caught the investing bug more than a decade ago, at a time when the U.S. had invaded Iraq and fear reigned in the markets. His initial success as the markets took off encouraged his passion and thirst for knowledge. With 13 years behind him at one of Australia's largest domestic banks, Mike's passion for stocks led him to join a boutique funds management firm, where he stayed for four years. A seven-year stint in equity research at one of the largest investment banks in the world followed that, giving Mike a thirst to pursue his passion further. Mike holds a Diploma in Applied Finance and Investment and a Graduate Certificate in Financial Planning. His passion is to help retail investors invest better, and that passion was one of his primary reasons for joining The Motley Fool Australia in late 2011. Mike has written thousands of articles since joining, including for Fairfax Media, Yahoo!7, Ninemsn and has also appeared on ABC's The Business. You can see all of Mikes' holdings here

Published April 13, 2012 2:17 pm AEST

The benchmark S&P/ASX 200 index closed up yesterday, rising 0.8% or 34.5 points to 4280.6, following a rally on the Dow Jones Industrial Average Index the previous night. While there were broad rises across the market, the following three S&P/ASX200 stocks showed the strongest gains.

Seven Group Holdings Limited (ASX: SVW) rose 5.4 per cent to $10.34. The diversified operating and investment group includes WesTrac Australia and National Hire Group as well as a 33.2 per cent investment in Seven West Media Limited (ASX: SWM), and a 24.5 per cent investment in Consolidated Media Holdings Limited (ASX: CMJ).

WesTrac yesterday announced that it intended to acquire the distribution and support business formerly operated by Bucyrus in Western Australia, Australian Capital Territory and New South Wales from Caterpillar Inc (NYSE: CAT).

The transaction is valued at around US$400m, and WesTrac estimates annual revenues for the Bucyrus business to be in the range of A$600m to A$650m in 2013 financial year. The acquisition will also complement WesTrac's existing product offering, and increase exposure to the mining sector.

PanAust Limited (ASX: PNA) rose 5.39% to $3.13, and was up a further 3.8% to $3.25 in early trading today. The company is a copper and gold producer, with mining operations in Laos, Thailand and Chile.

The company released its quarterly activities report on the 12^th April 2012, announcing that it was expecting to enter steady state production from its Ban Houayxai Gold-Silver Operation in Laos during the June quarter 2012. Production from PanAust's Phu Kham operation is expected to increase production of copper and gold by 5,000 tons and 7,500 ounces from late 2013. Above budget copper and gold production in the March 2012 quarter provides a solid foundation for the company to meet its guidance for the full year. The company is expecting to produce between 63,000 and 65,000 tons of copper in concentrate, 50,000 to 55,000 ounces of gold and 550,000 to 600,000 ounces of silver.

APN News & Media Limited (ASX: APN) rose 4.8% to $0.87. The company announced on Wednesday 11^th April 2012, that a resolution to seek a stand-alone debt facility of $250m in funding had been passed successfully. The funding allows APN to sell 50 per cent of APN Outdoor to Quadrant Private Equity, and help refinance existing debt. As a result of the deal, APN will receive $190m in cash.

Other notable risers included MacMahon Holdings Limited (ASX: MAH) up 4.6% to $0.79, and Cabcharge Australia Limited (ASX: CAB), up 4.4% to $6.10.

If you are looking for ASX investing ideas, look no further than "The Motley Fool's Top Stock for 2012." In this free report, Investment Analyst Dean Morel names his top pick for 2012…and beyond. Click here now to find out the name of this small but growing telecommunications company. But hurry – the report is free for only a limited period of time.

More reading

Motley Fool contributor Mike King doesn't own shares in any of the companies mentioned. The Motley Fool's purpose is to educate, amuse and enrich investors. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. Click here to be enlightened by The Motley Fool's disclosure policy.

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.