3 ASX 200 shares defying Friday’s falls to leap higher

A group of happy office workers throw papers in the air and cheer after seeing the Latrobe Magnesium price skyrocket 38%A group of happy office workers throw papers in the air and cheer after seeing the Latrobe Magnesium price skyrocket 38%

The S&P/ASX 200 Index (ASX: XJO) is ending a rough week in the red, but some of the shares that call the index home are managing to buck its downwards trend.

These three ASX 200 shares are shaking off the market’s struggles to record gains of up to 3% on Friday. We take a look at what’s keeping them in positive territory.

Right now, the ASX 200 is down 1.12%. That leaves it around 4.1% lower than it was at the end of last week.

3 ASX 200 shares pushing higher on Friday

James Hardie Industries (ASX: JHX)

The James Hardie share price is in the green on Friday despite its sector coming in as the ASX 200’s second worst performer. The stock has gained 1.87% to trade at $34.94 at the time of writing.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) has slipped 1.33%.

James Hardie is the only constituent of the sector posting a gain. Interestingly, the company’s US listing fell 3.11% overnight.

There’s been no announcements from the company. However, news of its Prattville manufacturing plant hit headlines overnight.

The Alabama facility – where the company produces fibre cement building solutions – will undergo an expansion, the state’s Governor Kay Ivey announced earlier this week.

“The growth project will double the size of the Alabama facility, permitting a large-scale expansion of its manufacturing capacity,” the Governor said.

Breville Group Ltd (ASX: BRG)

ASX 200 consumer discretionary share Breville is also gaining on Friday. It’s currently trading at $18.21, 1.11% higher than its previous close.

The gain follows the release of an update on the company’s acquisition of LELIT and an insight into its financial year 2022 performance.

The acquisition is on track to be completed at the start of July. Meanwhile the company’s expecting to meet its previously issued guidance for this financial year.

Xero Limited (ASX: XRO)

The final ASX 200 share posting a gain today is tech favourite Xero. The company’s stock is currently 3.32% higher, trading at $82.37. That’s despite no news having been released by the company on Friday.

However, as The Motley Fool Australia reported earlier today, analysts have been impressed by its move to raise prices.

The accounting software provider will increase the prices it charges subscribers in mid-September.

The post 3 ASX 200 shares defying Friday’s falls to leap higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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