The S&P/ASX 200 Index (ASX: XJO) returned to form last week after Omicron concerns eased. The benchmark index charged 1.5% higher to end the period at 7,353.5 points.
While a good number of shares rose with the market, some climbed more than most. Here’s why these were the best performing ASX 200 shares last week:
Metcash Limited (ASX: MTS)
The Metcash share price was the best performer on the ASX 200 last week with a gain of 13.9%. Investors were buying this wholesale distributor’s shares following the release of a strong half year result. For the six months ended 31 October, Metcash reported a 1.3% increase in revenue to $7.2 billion and underlying profit after tax growth of 13.1% to $146.6 million. Another positive was that Metcash revealed strong sales growth across its businesses so far in the second half.
Mesoblast limited (ASX: MSB)
The Mesoblast share price wasn’t far behind with a gain of 12.5% last week. This appears to have been driven by an update on its DREAM-HF Phase 3 trial of Rexlemestrocel-L in patients with chronic heart failure and low ejection fraction (HFrEF). According to the release, the trial found the greatest benefit from Rexlemestrocel-L is in HFrEF patients with diabetes, ischemia, or both.
St Barbara Ltd (ASX: SBM)
The St Barbara share price was a strong performer and charged 9.8% higher over the five days. Investors were buying gold miners last week after the price of the precious metal rebounded. This led to the S&P/ASX All Ords Gold index rising an impressive 3.4% over the period. For the same reason, the Gold Road Resources Ltd (ASX: GOR) share price rose 9.7% last week.
PointsBet Holdings Ltd (ASX: PBH)
The PointsBet share price was on form and stormed 9.4% higher last week. This gain appears to have been driven by a rebound in the tech sector and particularly in the US gambling industry. For example, the Draftkings share price was up 11% on the Nasdaq from Friday’s close through to Thursday’s close.
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- These were the worst performing ASX 200 shares last week
- Here are the top 10 ASX shares today
- These 3 ASX 200 shares are topping the volume charts on Friday
- ASX 200 (ASX:XJO) midday update: Fortescue CEO steps down, Westpac buyback update
- 2 highly rated ASX 200 shares to buy
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. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3EPVUCP
Leave a Reply