3 ASX stocks that smashed the market today

ASX rises 0.7%, but these three added more than 6%

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 February 8, 2013 4:21 pm AEDT

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has jumped 0.7% to close at 4,971.3 as strong Chinese trade data buoyed investors, and despite weak leads from offshore markets overnight.

The Australian dollar has continued its recent slide against the US dollar, currently fetching around US 102.9 cents.

These three stocks were among the best performers in the ASX 200, rising by more than 6%.

Buru Energy Limited (ASX: BRU) climbed 8.9% to finish at $2.46, after the company announced that an independent evaluation group had confirmed 47 trillion cubic feet of gas and a best estimate of 1,177 million barrels of condensate in Buru's Canning Basin resources. Buru believes that the Laurel Formation could rival the Northwest Shelf in size, with both conventional and unconventional gas and oil reserves. If true, that could turn Buru into the largest independent oil and gas company on the ASX.

African gold miner, Gryphon Minerals Limited (ASX: GRY) added 8.5%, ending at 44.5 cents, continuing its yo-yo run of late. The company received a speeding ticket (price query) from the ASX for a large fall in the share price earlier this week. Gryphon couldn't provide an explanation for the price fall, but a bankable feasibility study for its flagship Banfora gold mine, shows the company will need to raise more than $200 million in capital to get the project into operation. Today's price rise may suggest that investors are more comfortable about the company being able to raise the funds.

Senex Energy Limited (ASX: SXY) rose 6.5% to close at 65.5 cents, as the company starts a large fracking program to test shale gas flows from five wells in the Cooper Basin, which the company expects will lead to certification of significant petroleum resources. Senex estimates that its acreage could hold more than 100 trillion cubic feet of gas resources.

Oil, copper, and gold continue to be in high-demand — and their popularity doesn't look to be slowing. We've uncovered three companies poised to benefit from the rising prices of these commodities. Get our brand-new report — "3 High-Risk/High-Reward Resources Stocks" — FREE!

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The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, 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. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned.

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