The S&P/ASX 200 Index (ASX: XJO) was on form last week and recorded a decent gain over the shortened week. The benchmark index rose 0.6% over the four days to 7,523.4 points.
While a good number of shares rose with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:
Regis Resources Limited (ASX: RRL)
The Regis Resources share price was the best performer on the ASX 200 last week with a 17.1% gain. There were a couple of catalysts for this strong gain. One was a bullish note out of Credit Suisse, which saw the broker retain its outperform rating and lift its price target to $2.60. The other was a solid rise in the gold price. The latter led to a number of other ASX 200 gold shares recording double digit gains last week such as Northern Star Resources Ltd (ASX: NST).
Webjet Limited (ASX: WEB)
The Webjet share price was a positive performer and rose 8.5% over the four days. This strong gain was driven by a broker note out of Citi and a big improvement in investor sentiment in the travel sector. The former saw Citi upgrade Webjet’s shares to a buy rating with a $6.50 price target. Whereas the latter was driven by bullish comments out of Delta Airlines in the US, which helped drive fellow ASX 200 travel shares Flight Centre Travel Group Ltd (ASX: FLT) and Qantas Airways Limited (ASX: QAN) notably higher as well.
Elders Ltd (ASX: ELD)
The Elders share price wasn’t far behind with an 8.4% gain last week. This was despite there being no news out of the agribusiness company. However, Elders’ shares have been on a roll since the release of its results last month. So much so, they hit a multi-year high last week.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price was on form and charged 6.6% higher over the period. Its shares were given a boost last week from rising uranium prices. As Russia is a key supplier of the chemical element, sanctions have sparked supply fears. This comes at a time when the UK has recently revealed plans to build eight nuclear reactors by 2030.
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.
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More reading
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders Limited, Flight Centre Travel Group Limited, and Webjet 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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