Insights

These were the best performing ASX 200 shares in September

Boral Limited (ASX:BLD) and SKYCITY Entertainment Group Limited (ASX:SKC) shares were among the best performers on the ASX 200 in September…
The post These were the best performing ASX 200 shares in September appeared first on Motley Fool Australia. –

It was a disappointing month for the S&P/ASX 200 Index (ASX: XJO) in September. A heavy decline at the end of the month led to the benchmark index losing 4% of its value during the period to end it at 5,815.9 points.

Thankfully, not all shares on the index tumbled lower with the market last month. Four ASX 200 shares that surged higher are listed below.

Here’s why they were the best performers on the index in September:

SKYCITY Entertainment Group Limited (ASX: SKC)

The SKYCITY share price was the best performer on the ASX 200 last month with a 21.2% gain. Investors were buying the casino and resorts operator’s shares following the release of its FY 2020 results. Although SKYCITY posted a disappointing decline in normalised earnings, its trading update gave investor sentiment a boost. Management revealed that local gaming in Auckland and Hamilton is now ahead of pre-COVID levels and local gaming in Adelaide is now consistent with pre-COVID 19 levels. As a result, the company is guiding to a return to profit growth in FY 2021.

CSR Limited (ASX: CSR)

The CSR share price was on form in September and charged 16.7% higher. This appears to have been driven partly by a broker note out of Macquarie. According to the note, the broker has an outperform rating and improved price target of $4.60 on the building products company’s shares. It likes CSR due to its strong balance sheet, which it feels will help it navigate tough markets. It is also becoming increasingly bullish on its building products segment and has lifted its estimates accordingly.

Boral Limited (ASX: BLD)

The Boral share price wasn’t far behind with a 13.7% gain over the month. The catalyst for this gain appears to have been a broker note out of Citi. It upgraded the building materials company’s shares to a buy rating on the belief that construction markets are rebounding. In addition to this, it notes that there is a new management team in place and a portfolio review is coming up in October. It has suggested the company could offload its landbank, which could be worth up to $1.23 per share.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven share price finally found some form and charged 12.4% higher in September. A broker note also appears to be the driver of this gain. According to a note of UBS, its analysts retained their buy rating and lofty $2.00 price target on the coal miner’s shares. UBS notes that Whitehaven’s shares have fallen materially this year due to a decline in coal prices. However, it feels investors will be rewarded if they’re patient and coal prices recover. The Whitehaven share price ended the month at $1.04.

These 3 stocks could be the next big movers in 2020

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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sky City Entertainment Group 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.

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

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!