The S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) has closed up 0.1% at 4,972.4 points after an early rally fizzled out.
These four companies posted much stronger gains…
Emerchants Ltd (ASX: EML) share price rocketed up 22.8% to $1.24, after the payment services company announced that it has launched its payment card in the United Kingdom with an agreement with British bookmaker bet365. That appears to be a big deal for Emerchants, with bet365 having 21 million customers worldwide.
St Barbara Ltd (ASX: SBM) share price gained 8.1% to $2.07, with investors flocking to ASX-listed gold miners, after the gold price gained 1.4% to US$1,239.35 an ounce. The US Federal Reserve's decision to keep US interest rates lower for longer and continued concern over weak global growth appear to be the major factors behind the gold miner's moves. St Barbara's share price is still down 16% over the past 5 trading days.
Mineral Resources Limited (ASX: MIN) share price gained 5.7% to $5.94, following a big fall last week, after iron ore prices tumbled. Interestingly, iron ore prices slipped 1.2% to US$55.11 per tonne overnight, and the outlook for the commodity is not great, as we wrote here. Some investors may view the current price as cheap and an opportunity, but they may also be taking on much more risk than they think.
Sirtex Medical Limited (ASX: SRX) share price gained 4.6% to $28.23, suggesting shares may have found a bottom, having dropped more than 30% since the start of this year. The medical company produces and distributes Sir-Spheres, a radioactive treatment for liver cancer, but has disappointed the market a number of times this year – on dose sales growth and the loss of a key executive. However, Sirtex is still forecasting high double-digit sales growth for the full 2016 financial year, suggesting investors may have sold out too early.
