Despite the Dow Jones closing 0.94% higher on Friday, and the local futures market pointing to a strong day of trading, the S&P/ASX200 (ASX: XJO) (Index: ^AXJO) fell 0.3% today.
Whilst a strong rally from gold miners wasn't enough to offset a lacklustre day from most of the big banks, supermarkets and miners; these five companies soared, to end the day more than 9% higher.
1. RCG Corporation Limited (ASX: RCG) finished the day up an incredible 44% after being released from a trading halt this morning. The owner of The Athlete's Foot recently announced the acquisition of New Zealand-based Accent Group Limited, which will more than triple RCG's revenue base and give it exclusive rights to a number of popular brands.
2. Premier Investments Limited (ASX: PMV), another successful Australian retailer, announced its half-year results today. Despite a tough economic backdrop, Premier reported revenue growth of 4%, an increase in net profit of 9% and a special dividend of 9 cents per share – in addition to a 21 cents per share interim dividend. Investors were clearly enthusiastic about the report, sending the stock up 11% at close.
3. Beadell Resources Ltd (ASX: BDR) joined a host of fellow ASX-listed gold miners in climbing higher today, finishing up 9% following a recent rally in the U.S. dollar. After falling to a low of 23.3 cents earlier this month, Beadell shares have now rallied nearly 20% higher in the past five trading days.
4. Monadelphous Group Limited (ASX: MND) rose 14.4% today and is up 34% in the past month despite no company specific news and a tough sector outlook. Whilst it may be a case of bargain hunters recognising value in the beaten down mining services sector, investors thinking of speculating on short-term price movements may want to think again. Indeed many prominent forecasters are tipping a slowdown in resources sector spending. Buyer beware.
5. Martin Aircraft Company Ltd (ASX: MJP) skyrocketed an incredible 85% to close the day at $1.24 per share. Since listing on the ASX last month, the jet pack development company has had its share price rise and fall dramatically on a number of occasions. However, with the company not expected to turn its first profit for many years, investors may be wise to hold off buying in, for now.
