Stocks listed on the Australian Securities Exchange (ASX) were mixed on Monday’s trading but five ASX stocks were trending – Bluescope, Resolute Mining, Treasury Wine Estates, G8 Education Limited, and APN Outdoor Group.
Bluescope (ASX:BSL) ended Monday’s trading as top gainer with shares trading 4.02% higher at $12.68 a piece. Bluecope’s stock traded higher after the company announced a $359.1 million net profit after tax for 1H 2017, a $159 million increase from the previous year.
With Bluescope’s sound cash flow position, the company’s board has approved the payment of a fully franked interim dividend of 4 cents per share. The board also approved an on-market share buy-back of up to $150 million.
“The board believes the buy-back achieves an appropriate balance between retaining strong credit metrics, continuing to fund our growth opportunities and returning cash to shareholders,” said Bluescope chairman John Bevan.
Resolute Mining (ASX:Resolute)’s stock also trended Monday and gained 3.92% from last week’s close to $1.855 a share. The company did not make any price sensitive announcement last Monday that can be attributed to the stock’s good performance.
Treasury Wine Estates (ASX:TWE) was one of the top performing ASX stocks on Monday, gaining 3.697% to $12.34 a share. A total of 3.9 million shares exchanged hands even as the company did not issue any price-sensitive statements.
G8 Education Limited (ASX:GEM) reported on Monday a 10.2% revenue increase for the fiscal year 2016 to $778.5 million, with underlying net profit after tax up 7.1% to $93.3 million. The announcement sent GEM’s stock gaining 3.652% to $3.690 a share, making it one of the top ASX stocks for the day.
APN Outdoor Group (ASX:APO)’s stock joined the top 5 ASX stocks Monday after gaining 3.237% to end the day at $6.06 a share. A total of 1.87 million APO shares exchanged hands. – BusinessNewsAsia.com