3 ASX stocks that slammed the market today

ASX falls 0.3%, but these three added more than 5%

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 November 16, 2012 4:18 pm AEDT

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has dropped 0.3% today, to close at 4,336.8, ending a dismal week, losing 3% and hitting two month lows as the usual suspects, European debt issues and the US Fiscal cliff weigh on investors' minds.

The Australian dollar was down against the US dollar, currently buying 103.2 cents.

These three stocks were the best performers in the ASX 200 index, rising more than 5%.

Buru Energy Limited (ASX: BRU) climbed 8.5% to close at $2.94, after reporting encouraging drilling results at its Ungani North 1 well, located 100kms east of Broome, in the Canning Basin, Western Australia. Buru has teamed up with Japanese giant, Mitsubishi, and last week signed an agreement with the West Australian government to develop a supply project for gas users in WA, a gas pipeline and an LNG project in the longer term.

Ten Network Holdings Ltd (ASX: TEN) added 5.4% to end at 29.5 cents, despite the ad market for free-to-air (FTA) television falling 5% in October, and Ten continuing to lose market share in the FTA market. Ten's ad revenues dropped 22% over the year to just 21%. In contrast, Seven Network holds 43% of the market and the Nine Network holds 36%. As I mentioned earlier this week, there may not be room for three commercial FTA networks, and Ten looks like the odd one out.

Transpacific Industries Group Ltd (ASX: TPI) rose 5.2%, closing at 70.5 cents, after the company announced plans to reduce its debt. Transpacific repurchased $11 million of convertible notes on market, and will redeem another $37.3 million worth on December 7. With $890 million of long-term debt at the end of June 2012, the company has a fair way to go to get its debt back to manageable levels.

If you only invest in one company this year, make it our "Top Stock for 2012-13". Operating in two hot markets — one set to double by 2012, the other predicted to grow 5x over the next five years — this stock is a solid growth play that also boasts strong recurring revenue, zero debt, and lots of cash. Get its name and full research case in this brand-new FREE report.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. 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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