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Which ASX 200 shares were the best performers this week?

It’s TGIF time once again, and investors with shares in these 3 S&P ASX 200 index (ASX: XJO) stocks have something to celebrate this weekend.
The post Which ASX 200 shares were the best performers this week? appeared first on The Motley Fool Australia. –

top asx shares represented by investor kissing piggy bank

It’s TGIF time once again, and investors with shares in a select 3 S&P/ASX 200 Index (ASX: XJO) companies have something to celebrate this weekend.

Here are the 3 ASX 200 shares that outperformed all others this week.

Monadelphous Group Limited (ASX: MND) – up 9.44%

The best ASX 200 performer of the week was Monadelphous, which recorded a 9.44% share price gain. Its shares are now trading for $12.41.

The company released no new news this week, although it was on our radar last Friday after it settled a lawsuit with Rio Tinto outside of court. Perhaps, that’s been driving its share price this week.

Rio Tinto launched proceedings against Monadelphous in August last year, claiming $493 million in damages. The charges related to a fire that began at Rio Tinto’s iron ore processing plant in Cape Lambert during maintenance procedures managed by Monadelphous.

Luckily for Monadelphous, the charges were dropped, and its share price seems to be rejoicing.

Megaport Ltd (ASX: MP1) – up 9.48%

The Megaport share price enjoyed a positive week, up 9.48% to close today at $13.51.

Most of the software-defined network service provider’s share gains came after it released its quarterly report. The report showed consistent growth across all of Megaport’s metrics, including its monthly reoccurring revenue, which increased by 8% quarter-on-quarter (QoQ). 

Within its results, Megaport announced it gained 74 new corporate customers in the quarter ending March 31.

Hub24 Ltd (ASX: HUB) – up 7.8%

Finally, the third-best performing share price in the ASX 200 this week is Hub24. Its gains also seem to have been brought about by its quarterly results. Currently, the Hub24 share price trading at $25.50, up 7.8%.

Hub24 announced a 41% increase to its cash flow in the quarter just been, with the company raking in $1.9 billion. During the 2021 financial year, its average monthly net inflows were $556 million, up 35% from last financial year’s monthly average.

It also announced it now owns 33% of Easton Investments Ltd (ASX: EAS) shares.

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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. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd and MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Which ASX 200 shares were the best performers this week? appeared first on The Motley Fool Australia.

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