These were the best-performing ASX 200 shares in October

The S&P/ASX 200 Index (ASX: XJO) was well and truly back on form in October. The benchmark index roared 6% higher during the month.

As impressive as this was, some ASX 200 shares managed to deliver even stronger gains! Here’s why these were the best performers on the index last month:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price was the best performer on the ASX 200 in October with a 24% gain. This appears to have been driven by a promising update from its US parent which revealed improving sales trends globally. Despite this strong gain, the pizza chain operator’s shares are still down almost 50% in 2022.

Hub24 Ltd (ASX: HUB)

The Hub24 share price wasn’t far behind with a gain of 21.5% last month. Investors were buying this investment platform provider’s shares following the release of a strong quarterly update. According to the release, Hub24 recorded platform net inflows of $3 billion for the three months. This took its total funds under administration to $52.4 billion. This was driven by continued growth in the number of advisers on its platform.

Perseus Mining Limited (ASX: PRU)

The Perseus Mining share price was a strong performer and rose 20.1% in October. This followed the release of a strong quarterly update late in the month. That update revealed production that was well ahead of the market’s expectations. In light of this strong start, analysts at Macquarie suspect that the miner could outperform its production guidance.

Challenger Ltd (ASX: CGF)

The Challenger share price was just a touch behind with a gain of 20% last month. Investors were buying this annuities company’s shares after it released its quarterly update and announced an agreement to divest its banking operations. In respect to its update, Challenger’s Life sales were up an impressive 33% during the first quarter to $2.8 billion. Whereas for the latter, the company has agreed to sell its Australian bank to Heartland Group Holdings Ltd (ASX: HGH) for $36 million.

The post These were the best-performing ASX 200 shares in October appeared first on The Motley Fool Australia.

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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. has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Challenger Limited and Dominos Pizza Enterprises Limited. 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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