Australian investors, rejoice! The S&P/ASX 200 Index (ASX: XJO) is posting a strong gain on Thursday after two weeks of unbearable tumbles and smaller intermittent gains. But some ASX 200 shares are taking today’s uptick a step further.
Three ASX 200 stocks are surging as much as 6% today despite only silence from the companies.
To put their performance into perspective, the index has lifted 1.8% at the time of writing.
Let’s take a look at the ASX favourites posting major gains on Thursday.
3 ASX 200 shares beating the market today
The first ASX 200 share taking off ahead of the broader market is tech favourite Block Inc (ASX: SQ2). The Block share price is lifting 6.1% to trade at $89.79 right now.
Its rise follows a fortnight in which the stock plunged more than 18% compared to the S&P/ASX 200 Information Technology Index (ASX: XIJ)’s 7% tumble.
Also outperforming is the share price of Aussie fund manager Magellan Financial Group Ltd (ASX: MFG). The stock is up 3.3% right now, trading at $11.74.
Like that of Block, the Magellan share price has struggled through September so far. It has dumped 6% since announcing its funds under management (FUM) saw a $1.3 billion outflow over the course of August, seeing its total FUM hit $60.2 billion.
Finally, the New Hope Corporation Limited (ASX: NHC) share price is launching upwards, gaining 6.6% to trade at $6.29.
It’s just the latest gain posted by the ASX 200 coal share, which has now rocketed 14% since the company released its full-year earnings last week.
The coal producer’s profits soared more than 1,100% year-on-year to $983 million, leading the company to declare a 31-cent final dividend and a 25-cent special dividend.
Combined, the offerings represented a 700% increase on financial year 2021’s seven-cent final dividend.
The post 3 ASX 200 shares soundly beating the market on Thursday appeared first on The Motley Fool Australia.
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More reading
- Why is the Woodside share price on the rise today?
- Could this prevent Santos shares from cashing in on gas demand?
- 5 things to watch on the ASX 200 on Thursday
- Here are the top 10 ASX 200 shares today
- Why is the Santos share price all over the pitch on Wednesday?
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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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