3 ASX stocks that shook off the gloom on Friday

The market fell, but these three businesses rose more than 2%

Scott Phillips (TMFGilla)

Scott Phillips is The Motley Fool’s Chief Investment Officer in Australia. He is Advisor of The Fool’s flagship investment service, Motley Fool Share Advisor and the Portfolio Manager of Motley Fool Everlasting Income and Premier Portfolio, as well as running our most premium service, Motley Fool Platinum. He is passionate about investing, having managed his own portfolio for over 15 years. A dyed-in-the-wool Fool (in the best way), he has been a member of The Motley Fool since 1999. Scott holds a Bachelor of Commerce (Management) and a Graduate Diploma of Accounting. Before joining The Fool, Scott worked in various Sales and Finance roles in industry, which has allowed him to see the good, bad and the ugly of corporate management close-up. Giving him a great understanding of the way businesses run – and what separates the business wheat from the chaff – Scott wholeheartedly agrees with Warren Buffett when he said he was a ‘better investor because I am a businessman and a better businessman because I am an investor’. Scott left a successful career to follow his passion – helping our members achieve the best possible investment returns, and helping Australians learn to better manage their money. It’s no surprise he ended up at The Motley Fool.

Published June 4, 2012 11:31 am AEST

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) fell 12.4 points, or 0.3% to close at 4,063.9 on Friday, as data on Chinese manufacturing raised fears that China's growth is slowing faster than expected. The Chinese export sector also relies on Europe to buy about a fifth of its output, suggesting any pain in Europe is likely to felt in Australia.

These three stocks went against the trend to beat the market, rising by more than 2%.

Telstra Limited (ASX: TLS) rose 2.5% to close at $3.64, as investors seek stable, high dividend yielding companies. Despite the price rise, Telstra is still trading on a dividend yield of 7.7%, and the company is likely to continue paying a 28 cent dividend annually, at least for the next couple of years. Telstra is also reported to be interested in private-equity owned Nine Entertainment (Nine). Shareholders should be hoping Telstra walks away from Nine, with its enormous debt of $3.8bn. The company recently abandoned talks to buy James Packer's stake in Consolidated Media Holdings Limited (ASX: CMJ).

Ansell Limited (ASX: ANN) closed at $14.50, up 2.1%. The health care sector is generally regarded as a safe haven in volatile markets and investors flocked to Ansell on Friday. Most listed healthcare stocks are unaffected by commodity prices or a slowdown in Chinese growth.

CSL Limited (ASX: CSL) has seen its share price rise 17.3% in the last six months, while Ramsay Health Care Limited (ASX: RHC), shares have risen 19% in the last year, hitting an all-time record high of $22.05 on Friday, before closing at $21.60.

Westfield Group (ASX: WDC) was also up 2.1%, closing at $9.28. The company has seen its share price rise 11.8% in the last six months, compared to the index, which fell 5.2% over the same period. Westfield is another company regarded as a relatively safe stock. With billions of dollars invested in shopping centres globally, Westfield is a favourite amongst analysts tipped to out-perform the general market.

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Motley Fool contributor Mike King owns shares in CSL. 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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