The S&P/ASX 200 Index (ASX: XJO) was back on form last week. The benchmark index rose 1.8% over the five days to finish the period at 7,456.9 points.
While a good number of shares climbed higher with the market, some climbed more than most. Here’s why these were the best performing ASX 200 shares last week:
Nufarm Ltd (ASX: NUF)
The Nufarm share price was the best performer on the ASX 200 last week with a gain of 15.4%. This was despite there being no news out of the agricultural chemicals company. However, with a strong full year result expected from Nufarm next week, investors may have been snapping up shares ahead of it. Morgans sees a lot of value in its shares even after this gain. Last month it put an add rating and $6.32 price target on Nufarm’s shares.
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price wasn’t far behind with a 14.8% gain over the five days. Once again, this was despite there being no news out of the health imaging technology company. Though, it is worth noting that prior to last week the Pro Medicus share price had fallen 24% since hitting a record high in late August. Some investors may believe that its shares had been oversold, especially given the recent announcement of a $40 million seven-year deal with Novant Health.
News Corp (ASX: NWS)
The News Corp share price was on form last week and charged 11.6% higher. A good portion of this gain was made on Friday following the release of the media giant’s first quarter update. For the three months ended 30 September, News Corp reported an 18% increase in revenue to US$2.5 billion and a 53% jump in EBITDA to US$410 million. Strong performances from its Digital Real Estate Services segment and Dow Jones media business helped drive the strong result. The latter recorded its highest quarter of revenue and profitability since acquisition.
Charter Hall Group (ASX: CHC)
The Charter Hall share price was a strong performer and charged 11.3% higher over the period. Investors were buying the property company’s shares after it upgraded its post-tax operating earnings per security (OEPS) guidance for FY 2022. Charter Hall now expects OEPS of no less than 83 cents per share this year, which represents a minimum 36% year on year growth rate. This guidance reflects funds under management (FUM) growth and transactional activity to date.
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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