The 3 best performing stocks on the ASX today

ASX rises just 0.1%, but these three added more than 4.5%

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 January 21, 2013 4:41 pm AEDT

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has added just 0.1% today, ending at 4,777.5, a nineteen-month high, after a quiet day on the market. That follows the US Dow Jones Industrial Average hitting a five-year high last week, as investors may have finally realised that the sky is not falling as suspected.

The Australian dollar is flat against the US dollar, currently buying around 105.1 US cents.

These three stocks were the best performers in the ASX 200, rising more than 4.5%.

Ten Network Holdings Limited (ASX: TEN) climbed 9.5% to end at 34.5 cents. The rise could have been spurred by investors looking for beaten-down stocks with turnaround potential. After recently raising capital, which will be used to pay down debt, a fair amount of downside risk has been lifted from the company. A couple of hit shows could be all the company needs to re-cement its place alongside its commercial network competitors, Nine and Seven.

Downer EDI Limited (ASX: DOW) added 4.5%, closing at $4.38. The engineering and infrastructure management services company has been winning contracts recently, and after years of issues with its Waratah train project, now appears to be on track. After suspending dividends in 2011, we could see Downer return to paying dividends in 2013, if analysts' forecasts are correct.

FKP Property Group (ASX: FKP) continues its recent share price run, also rising 4.5% and closed at $1.615. FKP has risen more than 22% over the past five days, as the property company goes through the process of re-inventing itself. A planned float of its retirement assets is in the wings, while FKP is also targeting a reduction in its overheads of 10%.

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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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