The S&P / ASX 200 Index (^AXJO) (ASX:XJO) has closed flat at 5,047.2, with stocks recovering after RBA governor Glenn Stevens hinted that Australian policymakers see no serious impediments to further cuts in the official cash rate to spur on the economy. Markets are now 90% certain a rate cut is coming as early as next week.
Here are the top five best performing stocks in the index.
- Billabong International (BBG.AX) climbed 7.8% to 41.5 cents
- Fleetwood Corporation (FWD.AX) rose 6.5% to $3.91
- Resolute Mining (RSG.AX) added 5.6% to finish at 85 cents
- Medusa Mining (MML.AX) closed up 5.6% at $2.28
- Regis Resources (RRL.AX) finished up 5.1% at $3.49
These stocks were the losers on the day.
- McMillan Shakespeare (MMS.AX) slumped by 6.7% to close at $8.75
- Whitehaven Coal (WHC.AX) ended down 5% at $1.995
- St Barbara (SBM.AX) dropped 5% to 48 cents
- Metcash Limited (MTS.AX) fell 4.6% to $3.50
- Linc Energy (LNC.AX) lost 4.4% to $1.625
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Motley Fool writer/analyst Mike King doesn’t own shares in any companies mentioned.