After falling 60.18 points or 1.18% yesterday due to a decline in iron ore prices and decreased hopes of a further interest rate cut, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) recovered today, regaining 88 points. The following companies performed very strongly in today's trading:
Senex Energy Limited (ASX: SXY) and Buru Energy Limited (ASX: BRU) both rallied today, gaining 8.45% and 7.9% respectively, as gas futures prices grew to a 15 week high, according to a US government natural-gas inventory report. In February, Senex announced a record net profit after tax for their 1H13 of $23.4mil, as well as a record net oil production of over 660,000 barrels – an increase of 10% from the same period in 2012.
Mermaid Marine Australia Limited (ASX: MRM) is another energy company that finished the week on a high following the US report. Mermaid's shares have performed very well since mid-December but dipped back to the $3.74 mark in yesterday's trading. Today, shares gained 7.75%. In its half year report, the company impressed investors with its 15% increase in revenue and 18% increase in net profit for the period.
The owner of Amcal, Guardian Pharmacy and other Amcal brands, Sigma Pharmaceuticals Limited (ASX: SIP) gained 5.3% on Friday. Early in February, Sigma –Australia's largest pharmacy-led network with 900 stores nationwide – announced that it had entered into a memorandum of understanding (MOU) with Pharmacy Alliance to open 'at least' 30 new Amcal stores in 2013, "with more in the pipeline". This agreement will provide great benefits to each company, with the aim to also provide customers great outcomes
Sigma Pharmaceuticals yesterday announced a final dividend payment of 2.0c with an ex-dividend date on 19 March, offering a 6.1% yield for the full year.
Foolish takeaway
Whilst strong jobs news has largely decreased the chance of an official cash rate cut for April, the market appears to be cooling off slightly. Now that it is the weekend, us investors too can cool off, put our feet up, and await more news and updates to come next week!
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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 contributor Ryan Newman does not own shares in any of the companies mentioned in this article.
