Insights

These were the best performing ASX 200 shares last week

Crown Resorts Ltd (ASX:CWN) and Resolute Mining Limited (ASX:RSG) shares were among the best performers on the ASX 200 on Friday…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

A happy smiling kid points his fingers up, indicating a rising share price

Weakness in the tech sector weighed heavily on the S&P/ASX 200 Index (ASX: XJO) last week. This led to the benchmark index falling a disappointing 66.6 points or 0.9% to end the period at 7,014.2 points.

Fortunately, not all shares on the index tumbled lower. Here’s why these were the best performing ASX 200 shares last week:

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price was the best performer on the ASX 200 last week with an 11.1% gain. This gain was driven by the litigation funding provider announcing the settlement of the Wivenhoe class action with the State of Queensland and Sunwater for an aggregate amount of $440 million. Omni Bridgeway will receive a distribution from the settlement of the project costs and the project management fee totalling approximately $30 million.

Crown Resorts Ltd (ASX: CWN)

The Crown Resorts share price was the next best performer with a 7.6% gain. The catalyst for this was news that rival Star Entertainment Group Ltd (ASX: SGR) has tabled a conditional, non-binding, indicative merger proposal. On a pro forma basis, Star’s offer implies a price in excess of $14.00 per Crown share. This was a 15.5% premium to its last close price at the time. Crown revealed that it is considering the offer, along with an improved bid from Blackstone.

Resolute Mining Limited (ASX: RSG)

The Resolute share price wasn’t far behind with a gain of 7.5% over the five days. While the gold miner announced the appointment of a new CEO at the end of the week, this wasn’t the reason for the gain. In fact, the Resolute share price fell almost 2% on Friday following the announcement. The gain may have been due to bargain hunters looking for undervalued options in the gold sector. After all, the Resolute share price is still down 31% year to date even after this gain.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price was on form and charged 7.45% higher last week. All of this gain and more was made on Friday after the coal producer’s shares jumped 9%. This was driven by the release of two positive broker notes that morning. Both Macquarie and Credit Suisse upgraded its shares to an outperform rating on valuation grounds. Macquarie has a $1.70 price target and Credit Suisse has a $1.55 price target.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

The post These were the best performing ASX 200 shares last week appeared first on The 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!