Why did ASX 200 retail shares lead the market last week?

A woman smiles over the top of multiple shopping bags she is holding in both hands up near her face.

ASX 200 consumer discretionary shares led the 11 market sectors last week with a 4.38% gain.

The S&P/ASX 200 Index (ASX: XJO) rose 0.86% amid volatile trading to 8,731.7 points by Friday’s close.

There was a strong 1.62% rally on Friday on fresh hopes of an imminent deal between the US and Iran.

Meanwhile, softer-than-expected inflation data on Wednesday quelled fears of further interest rate hikes ahead.

Annual headline inflation fell to 4.2% in April, down from 4.6% in March, according to the Australian Bureau of Statistics.

That’s why consumer discretionary shares outperformed their peers last week.

Let’s take a look at some individual stock price movements.

Consumer discretionary shares led the ASX sectors last week

The Wesfarmers Ltd (ASX: WES) share price lifted 6.84% over the week to finish at $79.79.

The Lottery Corporation Ltd (ASX: TLC) share price rose 4.43% to $5.42.

The Light & Wonder Inc (ASX: LNW) share price ascended 1.68% to $116.73.

JB Hi-Fi Ltd (ASX: JBH) shares rose by 2.45% to finish the week at $74.49.

Shares in furniture retailer Harvey Norman Holdings Ltd (ASX: HVN) lifted 5.01% to $4.61.

Super Retail Group Ltd (ASX: SUL) shares rose 5.77% to $11.73 apiece.

Lovisa Holdings Ltd (ASX: LOV) shares increased 6.08% to close at $23.22.

ASX 200 travel stock Flight Centre Travel Group Ltd (ASX: FLT) ripped 9.08% to $10.93 per share.

Shares in Premier Investments Limited (ASX: PMV) zoomed 7% higher to $12.53.

Some ASX 200 retail shares did not follow the broader sector trend last week.

Eagers Automotive Ltd (ASX: APE) shares fell 2.61% to $20.89 apiece.

The Guzman Y Gomez Ltd (ASX: GYG) share price eased 0.76% to $19.66.

Shares in gaming technology company Aristocrat Leisure Ltd (ASX: ALL) dipped 0.63% to $50.10.

The Breville Group Ltd (ASX: BRG) share price moderated 0.21% to $28.94.

ASX 200 market sector snapshot

Here’s how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

S&P/ASX 200 market sector Change last week
Consumer Discretionary (ASX: XDJ) 4.38%
Materials (ASX: XMJ) 3.34%
A-REIT (ASX: XPJ) 2.38%
Information Technology (ASX: XIJ) 2.28%
Industrials (ASX: XNJ) 1.95%
Consumer Staples (ASX: XSJ) 0.35%
Healthcare (ASX: XHJ) 0.21%
Financials (ASX: XFJ) (1.18%)
Utilities (ASX: XUJ) (1.56%)
Communication (ASX: XTJ) (2.48%)
Energy (ASX: XEJ) (3.28%)

The post Why did ASX 200 retail shares lead the market last week? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Light & Wonder Inc, Lovisa, Super Retail Group, The Lottery Corporation, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Harvey Norman and Super Retail Group. The Motley Fool Australia has recommended Eagers Automotive Ltd, Flight Centre Travel Group, Light & Wonder Inc, Lovisa, Premier Investments, The Lottery Corporation, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.