In a week where the ASX 200 gained just 0.13%, these 3 shares have gone through the roof.
The post These 3 shares were the biggest gainers of the ASX 200 this week appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) is a fantastic beast, and this week these 3 ASX shares managed to tame it.
And it likely wasn’t an easy feat. While the ASX 200 managed to finish the week in the green, it did so by the skin of its teeth. Since Monday’s open, the ASX 200 has gained just 0.13%.
Let’s take a look at the 3 companies leading the ASX 200 pack this week.
ASX 200’s biggest winners of the week
Iress Ltd (ASX: IRE) – up 19.93%
Much of this week’s gains came to the Iress share price through sheer speculation amid rumours of a big buyer on the hunt – although, it did release genuine news today.
The software company jumped on the brakes when a rumour emerged that investment bank Barrenjoey was looking to buy Iress shares on behalf of a financial sponsor client. The story was published by the Australian Financial Review on Wednesday morning.
Within the hour Iress had released a statement denying the rumour.
Still, the ‘news’ excited the market enough for the Iress share price to close 16.8% higher that day.
Today, Iress announced it has implemented several changes to accelerate its growth trajectory and create greater shareholder value.
The seemingly positive news saw the Iress share price close 1.7% lower than yesterday.
Despite today’s losses, the Iriss share price is sitting pretty at $12.57, having finished last week at just $10.44.
Whitehaven Coal Ltd (ASX: WHC) – up 19.55%
This ASX 200 leader got to into the top 3 without releasing any price sensitive news.
However, the price is coal has been experiencing an astronomical tailwind lately. So much so, that China is pushing back against it by capping the price it’s willing to pay for the commodity.
The Whitehaven Coal share price hit several 52-week highs this week, with yet another being met today.
Currently, one share in Whitehaven will set an investor back $2.11.
Mesoblast Limited (ASX: MSB) – up 18.03%
Mesoblast has made the list of the ASX 200’s best performers despite also not releasing any news this week.
The week’s final broker note on Mesoblast came from Bell Potter, which put a price target of $4.70 on Mesoblast’s shares. That’s 118% more than Mesoblast’s current share price.
Additionally, Mesoblast shares were nearing their lowest point of the last 12-months earlier this week, perhaps spurring some bargain-bin investing.
The Mesoblast share price finished the week at $2.16.
The post These 3 shares were the biggest gainers of the ASX 200 this week appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper 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 Bruce Jackson.