It's been a topsy-turvy day for Australian investors, who have watched the market rise, fall, and then rise again. It's up 0.7% early in the afternoon however, and the optimism is spreading to most corners of the market. These four ASX shares are performing particularly strongly.
Credit Corp Group Limited (ASX: CCP) shares have risen 10.7% today to $10.97, but traded as high as $11.17 earlier. The receivables management group released its interim results today, reporting a 20% lift in revenue to $112.2 million and a 6% improvement in net profit after tax (NPAT) to $21.2 million. Better yet, it upgraded its outlook for growth in full-year NPAT from 15% to 17%.
Collection House Limited (ASX: CLH), Credit Corp's rival, has also benefited from the announcement. Its shares have rallied 7%, bouncing off their recent lows to $1.605 per share. The company warned of slower growth late in 2015 while it also flagged fewer purchased debt ledger (PDL) acquisitions, reducing the loans it can actually collect on. Thankfully, the group's CEO did note that PDL acquisitions for financial year 2016 (FY16) were tracking ahead in December.
Fortescue Metals Group Limited (ASX: FMG) has bounced 5.1% today, its shares now trading at $1.535. The shares hit an equal 52-week low of just $1.44 yesterday, but have risen as a result of a slight gain in the iron ore price overnight, combined with the release of a production report showing cash production costs (C1) of just US$15.80 per wet metric tonne in the December quarter.
Newcrest Mining Limited (ASX: NCM) also released its quarterly production report today, confirming it is on track to meet full-year production guidance despite a number of headwinds during the first half. Its shares are up 2.6% at $13.87, while its earnings results could benefit from a weaker Australian dollar and a stronger gold price since the beginning of the year.
