Insights

Why Westpac (ASX:WBC) and this ASX 200 share are smashing the market in 2021

The ASX 200 index is on form this year but these shares are putting it to shame…
The post Why Westpac (ASX:WBC) and this ASX 200 share are smashing the market in 2021 appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) has been in fine form in 2021 and has just hit a new record high.

This means the benchmark index is now up 9.4% year to date. While this is impressive, its pales in comparison to the gains being made by some ASX 200 shares.

Here’s why these two ASX 200 shares are smashing the market in 2021:

Codan Limited (ASX: CDA)

The Codan share price has been the best performer on the ASX 200 in 2021. Its shares are up a massive 66% since the start of the year. Investors have been buying the electronic products company’s shares thanks to its strong performance in FY 2021, promising acquisitions, and asset divestments.

In respect to the former, Codan has been on form thanks to strong demand for metal detectors following the release of new products and the sky high gold price. As for its acquisitions, Codan has recently boosted and diversified its earnings through the acquisition of US-based Domo Tactical Communications for $114 million and Zetron for US$45 million.

Westpac Banking Corp (ASX: WBC)

The Westpac share price has been in stellar form this year, rising 35.7% since the start of the year. It has also declared a fully franked 58 cents per share dividend and traded ex-dividend on 13 May. This strong gain has been driven by improving investor sentiment in the banking sector thanks to the increasingly positive outlook.

And it isn’t hard to see why investors are getting excited about the banks again. In February Westpac released its half year results and revealed a $3.44 billion cash profit. That was up 189% on the prior corresponding period and up 213% over the six months ended 30 September 2020.

The good news is that it may not be too late to invest. Morgans believes the Westpac share price can run a further 12% higher to $29.50.

The post Why Westpac (ASX:WBC) and this ASX 200 share are smashing the market in 2021 appeared first on The Motley Fool Australia.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

2 blue chip ASX shares that could be buys in June

PayPal taking fight to Afterpay (ASX:APT) and ASX banks
Boral (ASX:BLD) share price among the ASX 200’s top performers of 2021
S&P Global gives ASX bank shares the thumbs up

Westpac (ASX:WBC) just made it a bit more expensive to buy a house with higher interest rates

James Mickleboro owns Westpac shares. 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 Bruce Jackson.

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
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!