It's been another grand day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which has risen a stunning 1.2%, marking its tenth consecutive day in the black. The local bourse surged past the 5,800 level earlier in the session driven by strong international leads, a recovering oil price and lower borrowing costs passed down by the Reserve Bank yesterday.
While the sharemarket as a whole has performed strongly; its 1.2% rise doesn't even begin to compare to some of the market's individual movers…
Atlas Iron Limited (ASX: AGO), for instance, has risen a remarkable 22.4% today to be trading at 20.2 cents per unit. While a 1.2% rise in the iron ore price will be one of the factors influencing the stock's performance, a lower Australian dollar and the prospect of even lower interest costs will also be driving interest in the stock.
Newsat Limited (ASX: NWT), a junior satellite operator, has jumped 38.5% to 18 cents today, giving it a total gain of 131% since bottoming out at 7.8 cents on Thursday last week. The stock has come under enormous selling pressure recently with the company facing serious financial troubles related to its Jabiru-1 satellite. Newsat remains a highly speculative buy and investors would be wise to give it a wide berth.
Mortgage Choice Limited (ASX: MOC) has extended its gains, rising another 5.2% to complement yesterday's 6.8% jump. The company offers services to help individuals find the best mortgage products to suit their individual needs. The stock rose immediately after the Reserve Bank announced its first interest rate cut since August 2013.
Nearmap Ltd (ASX: NEA) has also risen strongly, jumping just over 8% by mid-afternoon. Despite its enormous promise in the Australian and US markets as a provider of geospatial mapping technology, the stock has been on a downward trend recently having fallen from a high of 83.5 cents to just 55.5 cents yesterday. It appears the market may be catching onto the opportunity.
