S&P/ASX 200 Index (ASX: XJO) consumer discretionary shares led the 11 market sectors last week with a 3.61% gain.
Meanwhile, the ASX 200 Index drifted 0.73% lower to finish at 8,764.2 points on Friday.
Economic data released last week suggests the Reserve Bank (RBA) may keep interest rates on hold for a while.
Unemployment fell 0.1% to to 4.4% and annual inflation dropped 0.2% to 4% in May, according to the Bureau of Statistics.
Commonwealth Bank of Australia (ASX: CBA) economist Ashwin Clarke said a 1.3% increase in household spending last month “surprised markets to the upside”.
Analysts are pricing in an 81% chance that the RBA will keep interest rates on hold at the next meeting on 11 August.
This is why ASX 200 retail shares outperformed their peers last week.
Let’s take a look at some individual company performances.
Consumer discretionary shares led the ASX sectors last week
The Wesfarmers Ltd (ASX: WES) share price rose 5.81% to finish at $90.74 on Friday.
Shares in gaming technology company Aristocrat Leisure Ltd (ASX: ALL) lifted 6.81% to $58.69.
The Lottery Corporation Ltd (ASX: TLC) share price rose 1.26% to $5.63.
The JB Hi-Fi Ltd (ASX: JBH) share price ascended 4.98% to $81.84 on Friday.
Guzman Y Gomez Ltd (ASX: GYG) shares increased 7.42% to $20.27.
Temple & Webster Group Ltd (ASX: TPW) shares ripped 8.64% to $6.16.
The Harvey Norman Holdings Ltd (ASX: HVN) share price rose 1.04% to $4.88.
Super Retail Group Ltd (ASX: SUL) shares finished the week steady at $13.12.
ASX 200 travel share Flight Centre Travel Group Ltd (ASX: FLT) managed a 0.52% lift to $11.99.
Shares in Premier Investments Ltd (ASX: PMV) rose 2.45% to $14.65.
Myer Holdings Ltd (ASX: MYR) shares rose 6.9% to close the week at 31 cents per share.
The Breville Group Ltd (ASX: BRG) share price inched 0.38% ahead to $31.43.
Not all ASX 200 retail shares followed the trend.
The Light & Wonder Inc (ASX: LNW) share price tumbled 13.68% to $110.78.
Eagers Automotive Ltd (ASX: APE) shares dropped 4.5% to $21.43 apiece.
Lovisa Holdings Ltd (ASX: LOV) shares eased 0.68% to $23.25.
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) | 3.61% |
| Consumer Staples (ASX: XSJ) | 3.26% |
| Utilities (ASX: XUJ) | 2.42% |
| Healthcare (ASX: XHJ) | 1.64% |
| A-REIT (ASX: XPJ) | 1.62% |
| Industrials (ASX: XNJ) | 1.31% |
| Financials (ASX: XFJ) | (0.02%) |
| Communication (ASX: XTJ) | (1.22%) |
| Materials (ASX: XMJ) | (4.06%) |
| Energy (ASX: XEJ) | (4.13%) |
| Information Technology (ASX: XIJ) | (5.19%) |
The post ASX 200 retail shares outperform on growing hopes interest rates have peaked 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, Temple & Webster 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, Myer, Premier Investments, Temple & Webster Group, 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.