These were the best performing ASX 200 shares last week

Pro Medicus Limited (ASX:PME) and Qantas Airways Limited (ASX:QAN) shares were among the best performers on the ASX 200 last week…
The post These were the best performing ASX 200 shares last week appeared first on Motley Fool Australia. –

High Five, happy, business

U.S. COVID-19 stimulus uncertainty weighed on sentiment last week and led to the S&P/ASX 200 Index (ASX: XJO) dropping lower. The benchmark index lost 9.8 points or 0.2% of its value to end at 6,167 points.

Fortunately, not all shares dropped lower with the market. Here’s why these were the best performers on the ASX 200 last week:

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price was the best performer on the ASX 200 last week with a 12% gain. This appears to have been a delayed reaction to an announcement a week earlier which revealed that the healthcare imaging software provider has signed a milestone contract in Germany. Pro Medicus has signed a seven-year deal with LMU Klinikum worth a total of A$10 million. The contract will see its Visage 7 technology deployed throughout LMU Klinikum’s radiology and subspecialty imaging departments.

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price was on form and charged 9.2% higher over the five days. All of this gain came on the final day of the week after the steel producer released its guidance for the first half of FY 2021. According to the release, BlueScope expects to report underlying earnings before interest and tax (EBIT) of $340 million for the first half. This represents a 30% increase on the second half of FY 2020 and a 12.4% lift on the prior corresponding period.

Qantas Airways Limited (ASX: QAN)

The Qantas share price wasn’t far behind with a gain of 8.1% last week. A reduction in COVID-19 cases in Australia and its annual general meeting presentation appear to have helped drive its shares higher. The latter revealed significant cost cutting plans and management’s belief that it will win a greater share of the domestic market due to Virgin Australia’s new strategy.

Challenger Ltd (ASX: CGF)

The Challenger share price was a positive performer last week and rose 7.9%. This latest gain stretched the annuities company’s month to date gain to a sizeable 25%. A week earlier Challenger released its first quarter update and reaffirmed its guidance for FY 2021. It continues to expect normalised net profit before tax in the range of $390 million and $440 million.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

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

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Pro Medicus 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 last week 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!