Not all ASX 200 shares tumbled lower last week…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –
TheÂ S&P/ASX 200 IndexÂ (ASX: XJO) was well and truly out of form last week. The benchmark index had its worst week in two years, dropping 4.2% to 6,932 points.
Fortunately, not all shares dropped with the market. Hereâs why these were the best performing ASX 200 shares:
Atlas Arteria GroupÂ (ASX: ALX)
The Atlas Arteria share price was the best performer on the ASX 200 last week with a 13% gain. This was driven by news that IFM Global Infrastructure Fund has acquired a 15% stake in the toll road operator with a view of making a takeover proposal. Though, on Friday, the company revealed that it has denied a request from IFM for access to non-public information to help it form a takeover proposal.
Woodside Energy Group LtdÂ (ASX: WDS)
The Woodside share price was the next best performer with a gain of 9.5% over the five days. Investors were bidding energy shares higher last week after oil prices climbed to 13-week highs. This was driven by tight supplies and strong US gasoline demand.
Tabcorp Holdings LimitedÂ (ASX: TAH)
The Tabcorp share price wasnât far behind with a gain of 7.5% last week. Investors were buying this gambling companyâs shares after itÂ settled its Racing Queensland litigationÂ for $150 million. However, thatâs only part of the story. This settlement is conditional upon the commencement of legislation that will implement proposed reforms by the Queensland Government relating to the wagering taxation and racing industry funding model. These reforms will be a very big boost to Tabcorpâs business.
GrainCorp LtdÂ (ASX: GNC)
The GrainCorp share price was on form and charged 6% higher last week. This follows the release of an above average east coast winter crop forecast by ABARES. This went down well with analysts at Macquarie. In response, the broker retained its outperform rating and $11.10 price target on GrainCorpâs shares.
The post These were the best performing ASX 200 shares last week 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 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 Scott Phillips.