3 ASX stocks that trounced the market on Tuesday

While the market rose over 1%, these stocks achieved 10 times that result 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 May 30, 2012 5:08 pm AEST

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) rose 46.4 points, or 1.1% to close at 4,114 yesterday on the back of renewed optimism that Greece will remain within the Euro.

These three industrial stocks all cleaned the market's clock, closing up more than 10%.

Linc Energy Ltd (ASX: LNC) jumped 14.9% to close at 81 cents, following on from a 15.6% rise on Monday, as buyers may believe they have spotted a bargain, with the share price down from a high of over $3 a year ago. The company recently advised the ASX that it believed the share price, at that time around 61 cents, was multiples below the price that the company estimates it should trade. Looks like investors believe the company as well.

Global Construction Services Limited (ASX: GCS) rose 15 cents, or 12% to close at $1.40. ) The company is currently trading on a P/E of 6.5 and paying a dividend yield of 6.4%, at today's price of $1.36. The group, which provides scaffolding and other construction equipment, has seen its share price hit due to ongoing concerns about Australia's subdued housing market and construction projects delayed or cancelled. It's an unloved sector of the market, and GCS could well be worthy of further research.

United Overseas Australia Limited (ASX: UOS) climbed 10.5% to close at 42 cents. Trading on a P/E ratio of less than 5, and paying a dividend yield of around 5%, this Malaysian investment property owner appeared on this recent screen for value shares that meet Benjamin Graham's criteria. The stock is also trading at less than half its book value. Despite the 10% rise yesterday, UOS still looks cheap. You can also read an update my colleague Peter Phan wrote today on UOS here.

Other notable industrials rising yesterday included two mining services companies, Ausenco Limited (ASX: AAX) up 8% to $3.66 and WDS Limited (ASX: WDS) up 8.3% to close at 45.5 cents. Jetset Travelworld Limited (ASX: JET) rose 7% to close at 38 cents and Vocus Communications (ASX: VOC) rose 6% to finish at $1.845.

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Motley Fool contributor Mike King owns shares in Ausenco and Vocus. The Motley Fool's purpose is to help the world invest, better. Take Stock is The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it's still available. This article contains general investment advice only (under AFSL 400691).Authorised by Bruce Jackson.

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