With just a few hours of trade left in this King’s Birthday shortened trading week, the S&P/ASX 200 Index (ASX: XJO) is up 2.1% since last Friday’s close, with plenty of help from these three surging ASX 200 stocks.
Here’s what’s been stoking investor interest this week.
Super Retail Group Ltd (ASX: SUL)
Super Retail shares closed last Friday trading for $11.32. At the time of writing, shares are changing hands for $12.42. That sees this ASX 200 stock up 9.7% for the week.
The ASX retail giant, whose brands include Supercheap Auto, Macpac, Rebel, and BCF, has finished in the green every day this week.
On Thursday, the company made financial headlines following the release of its new five-year growth strategy.
The company is aiming to increase its store numbers from 790 to more than 900 by 2031.
“Our new group strategy puts the customer at the centre of everything we do as we build our business for its next phase of growth,” Super Retail CEOÂ Paul Bradshaw said.
“This will require deliberate short-term investments in our systems and unlock a sustainable cost advantage over time,” he added.
Super Retail expects the transformation project to cost around $30 million a year for the next three years.
Lendlease Group (ASX: LLC)
The second ASX 200 stock racing higher this week on big news is property developer and investment manager Lendlease.
Lendlease shares closed last Friday trading for $2.46 and are currently swapping hands for $2.84 each. This sees the Lendlease share price up 15.5% for the week.
Lendlease shares have finished in the green every day this week and closed up 4.6% on Thursday following a major leadership announcement.
The company revealed that Tony Lombardo will step down from the top role before the end of the month. Nick O’Neil will take over as CEO and managing director starting on 10 September.
Currently the head of Australian Real Assets at Australian Super, O’Neil has more than 25 years of experience across corporate and investment strategy, M&A, governance, capital markets, and real asset management.
Lendlease also reaffirmed its full-year FY 2026 earnings guidance for its IDC business at 28 cents to 34 cents per share.
Which brings us toâ¦
ASX 200 stock Steadfast Group Ltd (ASX: SDF) leads the pack
Leading the pack higher this week is insurance brokerage company Steadfast Group.
Steadfast shares closed last week at $3.96 and are currently trading for $5.23 each. That puts this ASX 200 stock up an impressive 32.1% over four trading days.
Steadfast shares closed up 36.2% on Wednesday, after the company announced that it had received a conditional, non-binding, and indicative takeover offer from Amwins and Dragoneer.
The consortium is seeking to acquire 100% of Steadfast’s shares for $6 a share. That represents a 51.9% premium to Steadfast’s closing price on Tuesday.
The post 3 ASX 200 stocks leaping higher this week on big announcements appeared first on The Motley Fool Australia.
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More reading
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- Guess which ASX 200 stock is avoiding the selloff and charging higher on big news
- Down 53% in a year, guess which $1.8 billion ASX 200 stock is jumping today on big leadership news
Motley Fool contributor Bernd Struben 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 Steadfast Group and Super Retail Group. The Motley Fool Australia has positions in and has recommended Steadfast Group and Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.