After opening firmly in negative territory today, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has staged an impressive rebound and is now trading 0.22% higher at 5,333 points.
Four stocks that have made stand-out gains today include:
Incitec Pivot Ltd (ASX: IPL)
Incitec Pivot shares have climbed more than 10.5% today after the company released better-than-expected first-half results. The company booked a $105.6 million write-down on in its Gibson Island fertiliser plant, and underlying net profit fell by just 6.4% to $137.1 million. This was better than some analysts had expected considering the difficult conditions currently being experienced in the fertiliser and explosives markets. Incitec Pivot also confirmed that its US$850 million Louisiana ammonium plant is on budget and on track to begin production in the third quarter. This is expected to generate a significant amount of cash for the company, with the falling Australian dollar being a tailwind for the project.
Despite today's impressive gains, shares of Incitec Pivot have still lost around 19% over the past 12 months.
Macquarie Group Ltd (ASX: MQG)
Shares of Macquarie Group have surged more than 3.8% today, to trade at $69.60 a share. Although the company released a robust full year profit report on Friday, I suspect today's move is more likely the result of the recent decline of the Australian dollar. In FY16, Macquarie Group generated 68% of its total income from international markets and stated that a 10% movement in the Australian dollar is estimated to have around a 7% impact on full year NPAT. Investors can therefore expect to see further share price gains if the Australian dollar continues to fall.
Shares of Macquarie Group have fallen more than 12% over the past 12 months.
Blackmores Limited (ASX: BKL)
Blackmores shares have gained more than 3.8% today to trade at $187 a share. The shares have now rallied more than 25% since the vitamin maker released its third quarter results that showed earnings growth of 145% for the first nine months of FY16. Sentiment in the sector has also improved following the negative reaction to the Chinese government's plans to tighten foreign imports. Other companies exposed to the Chinese consumer like Bellamy's Australia Ltd (ASX: BAL) and a2 Milk Company Ltd (Australia) (ASX: A2M) have also rallied hard today as confidence in the sector appears to be re-emerging.
Blackmores shares have gained 172% over the past 12 months.
iSentia Group Ltd (ASX: ISD)
Despite the absence of any specific company news, shares of iSentia have today gained more than 4.5% to trade at $3.70. The company is the leading provider of media monitoring services in the Asia Pacific region and boasts some of the world's largest enterprises as its customers. The shares traded as high as $4.95 prior to the release of its first half results but were subsequently sold down after they came in below market expectations. Despite this, the company remains an exciting growth story and today's buying appears to be a case of investors looking to pick up the shares at a reasonable valuation.
Shares of iSentia have gained 8.5% over the past 12 months.
