The Pushpay Holdings Ltd (ASX: PPH) share price has rocketed up by 224.2% since its year to date low point on 16 March. The question for growth investors is, of course, can this company that provides donor management systems continue surging in value? If so, by how much?

The target market

Based in New Zealand and operating predominantly in the United States, Pushpay sells donor management tools to faith-based organisations, nonprofits, and education providers. So the entire company is set up to help facilitate donations and therefore assist organisations to fund charitable works. This is what initially sparked my interest in the Pushpay share price. 

The company operates through two primary verticals: a donor management system, including applications, and the Church Community Builder platform, the latter being a leader in church management systems. The Church Community Builder provides insights into congregations and helps drive engagement. It also provides scheduling functions for voluntary work.

Pushpay currently has over 10,000 customers and, during the height of COVID-19 lockdowns, its revenues actually increased. 

Pushpay’s financial position

At its annual meeting on 18 June, Pushpay announced it had achieved an amazing US$5 billion in total processing volumes for the year ended 31 March 2020. In addition, the company increased operating revenue by 33% to US$127.5 million while increasing its gross margin from 60% to 65%. That is an impressive margin. Moreover, the company has increased its sales by an average 45% per year over 4 years.

Over the past two years, Pushpay has delivered a positive return on equity (ROE). That is, the net income divided by the shareholders equity, or the total assets minus debt. The average ROE for the past two years has been 38.2%.

Of the company’s total revenues ~$91.9 million came from processing, while ~$35 million came from subscriptions. Both of these revenue streams contain large recurring revenue content. 

The Pushpay share price

As a growth company, the Pushpay share price is currently trading at a price to earnings ratio of >90. The share price has risen ~42% per year, on average, for 4 years. Furthermore, the company only generated its first profit in FY19. 

Foolish takeaway

Personally, I think the Pushpay share price still has a long runway ahead of it. The company has managed to eke out a profit over a relatively short period of time and has built a company based largely on recurring revenue streams. 

On its current growth rate, I expect Pushpay to process more than $5 billion in total transactions in FY21. While it is presently focused on the church sector in the US, which is a very large sector, I feel there is still significant growth opportunities for the company to realise through other donation-driven organisations. 

I believe it’s very possible the Pushpay share price could double two or three more times from its current value over the next 3 – 5 years. 

More reading

• 10 high quality ASX shares to buy in FY 2021
• Why Xero and these ASX tech shares just hit record highs
• 3 high quality ASX shares I would buy if there were another market crash
• 3 star ASX shares to buy for the rest of 2020
• Australian businesses are running out of cash

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Good news will be in short supply on our market today. But feedback from Brisbane-based credit union CUA could shine a ray of hope for coronavirus-afflicted ASX banking stocks.

The S&P/ASX 200 Index (Index:^AXJO) 1.8% in early trade. Rising fears of a second wave of COVID-19 cases as the world records 500,000 deaths and 10 million infections will give market bears the upper hand today.

Those desperately searching for some sliver of good news may be encouraged by what Australia’s largest customer-owned lender told the Australian Financial Review.

V-share bank recovery?

CUA undertook a survey of its borrowers. Its chief executive Paul Lewis said more than three-in-five of its customers on COVID-19 assistance are ready to restart payments now.

That’s encouraging as it supports hope of a V-shape economic bounce back given that we are only at the half-way mark for the pandemic assistance packages offered by banks and the government.

Banks offered its customers affected by the pandemic lockdown to defer loan repayments for six months until October.

Bad debt a big thorn in the side

But the move also heightened worries about bad debts when the government’s wage assistance ends at the same time as the loan relief program.

This is one key reason why the Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), Australia and New Zealand Banking GrpLtd (ASX: ANZ) and National Australia Bank Ltd. (ASX: NAB) share prices have tumbled.

The findings by CUA stand in contrast to the feedback that NAB received a few weeks ago. As reported back then, NAB’s boss Ross McEwan said as many as 90% of its customers on loan deferral can’t restart paying their mortgages.

Emerging from the COVID-19 freeze

But as the Australian economy is continuing to emerge from the COVID-19 deep freeze (apart from Victoria), perhaps things are looking brighter now.

However, before you get too excited, there are some caveats to CUA’s upbeat findings. Firstly, credit unions tend to have more conservative lending practices. This means their borrowers tend to be in better financial shape heading into the crisis.

Further, its borrowers are usually older. This is important as the massive job losses have hit younger Australians harder as they are concentrated in industries most affected by the lockdowns, such as hospitality.

CUA also has limited exposure to small business lending, unlike the big four – particularly NAB. Some economists are predicting a wave of small business closures when the government’s JobKeeper and JobSeeker programs end on September 24.

Foolish takeaway

Bad debt is a bigger issue for ASX banks than for credit unions, although it’s the Big Four that wields the market power.

The big banks can outprice smaller lenders as they have a funding advantage and the balance sheet strength (assuming bad debts don’t lift significantly from forecasts).

I believe coming out of the crisis, the big four will have the upper hand. That’s why I own shares in all the big banks.

Now all they have to do is to get through this shorter-term volatility.

More reading

• Are Coles and Woolworths shares back in the buy zone?
• Tassal and 2 more ASX 200 shares to watch this week
• ASX 200 Weekly Wrap: ASX retreats as confidence wanes
• ASX beware: RBA warns on bank loan deferrals
• The best placed ASX stocks for the August reporting season

Motley Fool contributor Brendon Lau owns shares of Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank Limited, and Westpac Banking. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Jumbo Interactive Ltd (ASX: JIN) share price has returned from its lengthy suspension and is sinking notably lower this morning.

At the time of writing the lottery ticket seller’s shares are down 9% to $10.39.

Why is the Jumbo share price sinking lower?

Investors have been selling Jumbo’s shares this morning after it announced a new 10-year reseller agreement with Tabcorp Holdings Limited (ASX: TAH).

According to the release, Jumbo and Tabcorp have extended their reseller agreements for New South Wales, Victoria, South Australia, Northern Territory, ACT, and Tasmania (as well as international jurisdictions) until July 2030.

However, given the enlarged scale of Jumbo and the fundamental value of Tabcorp’s lottery licences to it, these agreements will come at a cost.

Jumbo has agreed to pay an upfront extension fee of $15 million for the 10-year term and a service fee of 4.65% of the ticket subscription price.

The latter will be introduced in phases, initially with a service fee of 1.5% in FY 2021. After which, its service fees will increase to 2.5% in FY 2022, 3.5% in FY 2023, and then 4.65% thereafter. Though, should the value of its ticket sales be in excess of $400 million for each applicable financial year, it will pay a pay a service fee of 4.65% on ticket sales beyond that amount.

Western Australia update.

Jumbo also revealed that it is in discussions with Lotterywest in relation to arrangements for its Western Australian customers. These represented approximately $33 million or 10.5% of ticket sales in FY 2019.

Though it warned that there is no guarantee that these discussions will result in any agreement being reached with Lotterywest. Furthermore, if an agreement with Lotterywest cannot be reached, Jumbo will seek alternative options for maximising the value of its Western Australia customer base.

FY 2020 guidance.

Jumbo has reaffirmed its guidance for FY 2020 despite a lower than expected number of large jackpots.

It expects to report ticket sales of $335 million to $341 million and revenue of $68.5 million to $69.9 million. In respect to earnings, it is forecasting earnings before interest, tax, depreciation, and amortisation (EBITDA) of $38.7 million to $40 million and net profit after tax in the range of $24.4 million to $25.3 million.

More reading

• Tassal and 2 more ASX 200 shares to watch this week
• Share price winners and losers of the pandemic
• 5 things to watch on the ASX 200 on Monday
• Where to invest $5,000 in an irrational market
• 5 things to watch on the ASX 200 on Wednesday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The A2 Milk Company Ltd (ASX: A2M) share price has had an impressive run in the last 5 years.

Shares in the Kiwi dairy group have rocketed 2,710.8% over that time to $18.27 per share. That means $10,000 invested 5 years ago would be worth more than $271,000 today.

Many investors would look at the a2 Milk share price and think that its growth potential is already gone. But could the dairy group’s value continue to soar this year?

Why the a2 Milk share price may continue to climb

I think conditions in the Australian and New Zealand dairy market remain quite tough. Farmgate milk prices are low and competition is as fierce as ever.

However, a2 Milk shares have continued to climb in 2020 and are up 27.8% for the year. Despite some strong sales to start the year, I think the real growth potential is in international expansion.

a2 Milk is looking to expand its iconic brand into Canada, which could open up a whole new market. While the Kiwi dairy group has had a lot of success in Asia, North America could provide a real sales boost if it can capture market share.

That could mean the a2 Milk share price heads higher if this is converted into higher earnings.

That being said, I’m not bullish enough to be buying in at $18.27 per share, particularly given the uncertainty around international trade right now.

Have any other ASX shares seen the same growth?

A2 Milk isn’t the only ASX growth share to rocket higher over this period. The Polynovo Ltd (ASX: PNV) share price has rocketed 2,700.0% to $2.52 per share.

The Aussie biotech company has gone from strength to strength in recent years, much like a2 Milk.

I think Polynovo has some strong growth prospects as it looks to expand its NovoSorb product into other healthcare and cosmetic markets.

While no one knows where Polynovo and A2 Milk shares are headed in 2020, I think both companies are well-positioned for more growth in the short to medium-term.

More reading

• 10 high quality ASX shares to buy in FY 2021
• Where to invest $5,000 into ASX shares in July
• Brokers name 3 ASX 200 shares to buy today
• ASX 200 down 1.8%: CSL announces new acquisition, Qantas to raise $1.9bn
• 3 star ASX shares to buy for the rest of 2020

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Up 2,700% in 5 years: can the a2 Milk share price continue to climb? appeared first on Motley Fool Australia.

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Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW) shares have been outperforming in 2020.

While the S&P/ASX 200 Index (ASX: XJO) is down 11.7% this year, Coles and Woolworths shares have climbed 13.1% and 0.6%, respectively.

There are fears over a second coronavirus wave right now, particularly in Victoria. We saw ASX supermarket shares rocket higher earlier in the year, so will this time be any different?

Will ASX supermarket shares soar again?

I’m of the opinion that we won’t see the same share price surges that we saw in February.

For one, I just don’t think there will be the same level of panic buying this time around. While both Coles and Woolworths have introduced new buying restrictions, there are more options available to Aussies right now.

Restaurants and cafes are starting to re-open, which means more people can eat out now compared to March. That could mean that supermarket sales don’t reach the same heights but Coles and Woolworths shares could still climb higher.

What’s good about Coles and Woolworths shares?

While I don’t think we’ll see more surges, we could still see the Aussie supermarket shares finish the year strongly.

A recent SCA Property Group (ASX: SCP) trading update suggested strong turnover from its supermarket tenants up to 31 May 2020. That could be good news for Coles and Woolworths shares in the short to medium-term.

On top of that, Woolworths is working on some impressive automation projects with Qube Holdings Ltd (ASX: QUB). The new automated logistics centre could be a game-changer for operational efficiency for the supermarket giant.

Foolish takeaway

While panic buying may not return in 2020, that doesn’t mean supermarket shares won’t be worth buying.

If we see more share market volatility, the relatively steady earnings for the Aussie supermarkets could make Coles and Woolworths shares welcome portfolio additions.

More reading

• Tassal and 2 more ASX 200 shares to watch this week
• ASX 200 Weekly Wrap: ASX retreats as confidence wanes
• Why Fortescue and these ASX dividend shares could be top income options
• 3 ASX shares to own for the next 10 years
• Top brokers name 3 ASX shares to sell next week

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Shopping Centres Australasia Property Group, and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Investing in the best ASX growth shares at the right price can create some great returns if you choose well.

Not many businesses are destined to be top performers over the long-term. I think it’s quite tough to identify those businesses which will go on to become Australia’s next mid-caps. Or even large caps eventually.

I think these are some of the best ASX growth shares to invest in for the next 12 months and beyond:

Share 1: Bubs Australia Ltd (ASX: BUB)

Bubs is one of the most exciting consumer ASX growth shares in my opinion. It sells a range of goat milk products. The infant formula business is growing impressive. In the quarter to 31 March 2020, infant formula revenue rose 137% compared to the prior corresponding period and represented 58% of that quarter’s gross sales. I think that was a very impressive result.

Chinese revenue is similarly growing at a fast pace, rising 104% in the last quarter. But ‘other market’ revenue rose almost 20 times compared to the prior corresponding period and represented 12% of gross sales in the quarter. There was significant growth in Vietnam. There is more to Asia than just China. 

Bubs is distributed across a variety of retailers in Australia like Coles Group Limited (ASX: COL), Woolworths Group Ltd (ASX: WOW), Amazon, Chemist Warehouse and Baby Bunting Group Ltd (ASX: BBN). I think Bubs is doing a good job of raising its brand profile.

I think the international expansion aspect makes this a very exciting ASX growth share.

Share 2: City Chic Collective Ltd (ASX: CCX)

City Chic describes itself as a global omni-channel retailer specialising in plus-size women’s apparel, footwear and accessories. After making acquisitions, it now runs several brands including City Chic, Avenue and Hips & Curves.

Not only does the retailer operate over 90 stores across Australia and New Zealand, but it also has a website in the US, marketplace and wholesale partnerships with major US retailers and a wholesale business with European and UK partners.

Store closures and lower margins because of COVID-19 were not ideal for the ASX share, but it managed to achieve 57% online sales growth during the store closure period, despite already having a high level of online sales.

The company has agreed reduced rent with a large majority of its landlords and it is also eligible for jobkeeper in Australia and the wage subsidy in New Zealand. This will help with costs. 

On 19 March 2020 the company announced it had achieved strong comparable sales growth of 8.6% for the financial year to date. As COVID-19 impacts lessen, I think City Chic’s growth will rebound.

Share 3: BWX Ltd (ASX: BWX)

BWX is a leading natural beauty business with a number of different brands including Sukin, Andalou Naturals, Nourished Life and Mineral Fusion.

It was a really tough year in 2018 for the ASX share, but the company seems to be turning things around. In the FY20 result it grew total revenue by 23% to $84.1 million. That included 43% revenue growth of Sukin, 15% growth for Andalou Naturals, 28% growth for Mineral Fusion and 5% growth for Nourished Life.

FY20 half-year earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 40%, excluding the effects of AASB 16 Leases. Reported EBITDA rose 63% and statutory net profit after tax (NPAT) rose by 63%.

It has exited 16 markets to concentrate on certain areas for growth. For example, Sukin is now selling across around 1,000 US distribution points including 330 USA Target stores. Mineral Fusion was recently launched in 770 USA Target stores. Andalou Naturals is being rolled out in Australia with new retail partners. A bigger distribution network should lead to more sales.

At 31 December 2019, the ASX share had a net cash position of $14 million, up from $12 million a year ago. It even declared an interim dividend of 1.3 cents per share.

BWX looks like it’s now on the right path and continues to grow internationally with rising profit margins.

Foolish takeaway

I think each of these ASX growth shares could beat the market in FY21 and deliver impressive growth. It’s hard to pick a favourite, though I’d go for Bubs if I had to choose one. I think it could grow its revenue and profit the most (in percentage terms) over the next year and five years. I also believe it could be the least affected if COVID-19 affects Australia and China again. 

More reading

• 10 high quality ASX shares to buy in FY 2021
• Where to invest $5,000 into ASX shares in July
• 3 top ASX shares to buy for growth investors in July
• Share price winners and losers of the pandemic
• Australian businesses are running out of cash

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended BUBS AUST FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Last week was another rollercoaster for ASX shares as the S&P/ASX 200 Index (ASX: XJO) slumped 0.65% lower to 5,904.10 points.

It was a difficult week as investors around the world begin to fear a second wave of COVID-19 and more economic damage. ASX gold and mining shares led the gainers for the week, while travel shares were smashed.

Last week I was watching Transurban Group (ASX: TCL), Afterpay Ltd (ASX: APT) and Southern Cross Media Group Ltd (ASX: SXL).

The Afterpay share price slumped 2.9% lower as investors start to pull back from the recent buying rush. Transurban shares fell 4.4% lower while the Southern Cross Media share price closed the week down 5.0%.

Below are the 3 ASX 200 companies on my watchlist for what could be another rollercoaster week for Aussie shares.

3 ASX 200 shares to watch this week

The first company I’ve got my eye on this week is Tassal Group Limited (ASX: TGR).

Tassal is a Tasmanian-based salmon farming company with strong supply channels in both Australia and abroad. The Tassal share price fell 6.4% last week as seafood prices continue to fall based on oversupply fears.

While current market dynamics are tough, I think there is still strong long-term potential for the ASX 200 aquaculture share. That’s especially the case if we see import restrictions and more reliance on domestic produce.

I’m also eyeing off Tabcorp Holdings Limited (ASX: TAH) this week as Aussie sports are returning in full swing.

Tabcorp is an ASX 200 wagering share with a strong presence in horse racing and sports betting. Given we’re seeing sports like the AFL and NRL return to our screens, I think Tabcorp could see an uptick in revenue in the current market.

Of course, other gaming facilities remain closed or restricted, which means earnings may be soft. However, after a 3.5% share price drop last week, I wouldn’t be surprised to see Tabcorp recover some of those losses.

My final ASX 200 share to watch right now is Saracen Mineral Holdings Limited (ASX: SAR).

The Saracen share price led the way last week as it rocketed 13.6% higher to $5.36 per share. That will no doubt please shareholders with the gold miner up 61.9% for the year.

Given the significant outperformance over its peers, I think we could see a bit of a correction in the Saracen share price in the week ahead.

More reading

• Are Coles and Woolworths shares back in the buy zone?
• ASX 200 Weekly Wrap: ASX retreats as confidence wanes
• 3 ASX share price trends to watch next week
• The best placed ASX stocks for the August reporting season
• 3 of the best blue chip ASX 200 shares to buy in July

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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More reading

• Are Coles and Woolworths shares back in the buy zone?
• 3 top ASX growth shares to buy for FY21
• Tassal and 2 more ASX 200 shares to watch this week
• ASX 200 Weekly Wrap: ASX retreats as confidence wanes
• Here are the 10 most shorted shares on the ASX

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The S&P/ASX 200 Index (ASX: XJO) retreated 0.65% last week as global fears over a second wave of the coronavirus pandemic set in.

ASX 200 shares had been enthusiastically rallying in recent months, partly a result of jubilation over the relaxing of COVID-19 restrictions and hopes of a rapid ‘return to normal’ for the economy. But a new surge in cases last week in Victoria, as well as a spike in infection rates across the United States and the United Kingdom, have resulted in old fears boiling to the surface. Last week marked the ASX 200’s second week of losses out of the past 9 weeks of trading.

ASX travel shares lashed the market

It shaped up to be a rather dramatic five days on the ASX boards last week. We finally learned the future of Virgin Australia, with US-based private equity firm Bain Capital emerging triumphant from the administration process as the airline’s new master. Aussie investors might not be too familiar with Bain, but it was notably founded by former US presidential candidate Mitt Romney back in 1984.

In other news, Qantas Airways Limited (ASX: QAN) finally bowed to the inevitable and launched a capital raising program – its first since the coronavirus pandemic began. Qantas shares were placed in a trading halt on Thursday when the announcement was made. Friday saw a return to trading when the company announced that $1.36 billion had been raised from institutional shareholders at a cost of $3.65 per share. Existing retail shareholders also have the opportunity to participate in the program. Qantas shares plunged 9.5% during Friday’s trade to end the week at $3.81.

It was perhaps fortuitous timing for Qantas. ASX travel shares were amongst the hardest hit last week over coronavirus concerns. Webjet Limited (ASX: WEB) shares were down more than 15% over the week. Corporate Travel Management Ltd (ASX: CTD) didn’t fare any better, with its shares down nearly 19% for the week.

Meanwhile, ASX blue chips were the shares holding the fort. CSL Limited (ASX: CSL) shares were up 1.6% for the week, with 2 of the big four ASX banks, Wesfarmers Ltd (ASX: WES) and Coles Group Ltd (ASX: COL) also posting weekly gains.

How did the markets end the week?

It was a week of volatility on the ASX 200 last week, with frequent, large swings in intra-day trading occurring. Monday and Tuesday saw this volatility in play but only recorded 0.03% and 0.2% gains respectively. Wednesday backed up Tuesday with another 0.2% gain, but then Thursday brought a nasty 2.5% loss. Friday saw this loss reverse somewhat with a 1.49% gain. But it wasn’t enough to offset the rest of the week. In the end, the ASX 200 started last week at 5,942.6 points and concluded at 5,904.1 points – putting the week’s loss at 0.65%.

Meanwhile, the All Ordinaries (INDEXASX: XAO) had a slightly worse time last week, starting at 6,061.6 points and finishing up at 6,011.8 points for a 0.82% loss.

Which ASX 200 shares were the biggest winners and losers?

It’s that time of the report where we put the kettle on and have a gossip over last week’s best and worst performers. As always, we’ll start with the losers:

Worst ASX 200 losers	% loss for the week
Mesoblast Limited (ASX: MSB)	(19.81%)
Corporate Travel Management Ltd (ASX: CTD)	(18.85%)
oOh!Media Ltd (ASX: OML)	(15.32%)
Perenti Global Ltd (ASX: PRN)	(14.25%)

It was a dramatic week on the wrong side of the ASX last week, with some big double-digit losses. Mesoblast took out the wooden spoon though. This ASX biotech company’s shares took a dive, despite no major news out of the company. It’s possible investors were just taking some profits off the table after Mesoblast’s incredible run over the past 3 months. As at 19 June, the company’s shares were up more than 270% since 23 March.

We’ve already discussed the woes of ASX travel shares like Corporate Travel Management, whilst Ooh!Media shares have been under selling pressure ever since the company gave investors a less than uplifting trading update earlier in the month. The outdoor advertising business has been struggling since the onset of the pandemic which resulted in deep cuts to advertising expenditure across the economy.

Let’s now take a look at the winners from last week:

Best ASX 200 gainers	% gain for the week
Western Areas Ltd (ASX: WSA)	21.97%
Saracen Mineral Holdings Limited (ASX: SAR)	13.56%
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)	10.23%
Sandfire Resources Ltd (ASX: SFR)	9.83%

Last week’s winners’ list was dominated by ASX resources shares. The gold medal went to Western Areas, a nickel miner based in South Australia. The company released some positive results from its Western Gawler project, which seems to have been the catalyst for these strong gains.

ASX gold miner Saracen came in at second place. Gold prices have been on the rise in recent weeks (reaching 8-year highs), which has resulted in higher valuations for most gold miners. Sandfire Resources, which produces gold as well as copper, was likely experiencing buying pressure for similar reasons.

What is this week looking like for the ASX 200?

In my view, it’s likely to be (yet another) week dictated by the trajectory of the coronavirus. If signs emerge that the virus looks to be heading towards a ‘second wave’ (particularly in Victoria), then the markets might possibly continue to shed value.

Also worth keeping an eye on is the turbulence over in the US. Like it or not, the US markets play a huge role in dictating the direction of our own ASX. And there has certainly been a lot of tumult across the Pacific. Several US states, including Florida and Texas, are reimposing lockdown restrictions (after initially easing off) in response to a spike in infection rates. This could well lead to pessimism on the US markets as well as our own.

So before we embark on another week, here’s a quick look at how the major ASX blue chip shares are looking:

More reading

• Are Coles and Woolworths shares back in the buy zone?
• Tassal and 2 more ASX 200 shares to watch this week
• Here are the 10 most shorted shares on the ASX
• Why Fortescue and these ASX dividend shares could be top income options
• Fisher & Paykel Healthcare share price on watch after COVID-19 drives record profit result

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited, Newcrest Mining Limited, and Telstra Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited, Macquarie Group Limited, Telstra Limited, and Webjet Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Transurban Group, Wesfarmers Limited, and Woolworths Limited. The Motley Fool Australia has recommended oOh!Media Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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