The local sharemarket has found its footing today following three consecutive days in the red. While the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has risen 0.5% these five ASX stocks are soaring higher.
Insurance Australia Group Ltd (ASX: IAG) has surged 6.2% to $5.35 per share after the insurance business scrapped its plans to expand into China on the back of strong shareholder disapproval. The insurer will refocus its attention on its Australian and New Zealand divisions which appears to have won the market's support.
Fortescue Metals Group Limited (ASX: FMG) also regained 6% today with its shares now fetching $2.29. The gain can likely be attributed to the ongoing resilience of iron ore which rose marginally in price overnight, supporting the theory of many investors that the commodities rout may have finally found a floor. I wouldn't be so sure, but one way or another investors are being given a reprieve for now.
EVOLUTION FPO (ASX: EVN) and Beadell Resources Ltd (ASX: BDR) are both jumping on the back of another strong lift in the gold price overnight. The spot gold price gained 1.6% to roughly US$1,187 an ounce as investors around the world continue to pour money into the mineral – which is typically seen as a 'safe haven' against economic distress. The pair rose 7.1% and 7.3% respectively.
Domino's Pizza Enterprises Ltd (ASX: DMP) shares lifted 10.3% to $46.90 after hitting a fresh all-time high of $47.15 earlier in the session. The strong lift came after the company announced it would buy the Pizza Sprint delivery chain in France, expanding its presence within the European continent. It said it would give the company an approximate 330 additional stores in the country.
