Did you see the ASX 100 top 3 gainers for the week?

Insurance, healthcare and energy held the top spots last week.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The last week of February and the end of reporting season had the S&P ASX 100 Index (ASX: ^XTO) ending down 0.6% to 4,485. The Aussie dollar slipped down from $0.8973 to the US$ to finish the week at $0.8922. The week finished with the move by Qantas Airways Limited (ASX: QAN) to slash costs and its workforce with 5,000 jobs expected to be lost.

But we still have our gainers in the ASX 100, and here are the top three for the week.

QBE Insurance Group Ltd (ASX: QBE) shot up 10.1% by week’s end, closing at $12.82. It announced a full year net loss of $254 million, but the market is looking past that and expecting FY2014 and FY2015 to show much improvement. It is implementing its operational transformation, which it estimates will achieve savings of at least US$250 million by the end of 2015.

The share price was in a downward trend from about $30 to $10 between 2007 and 2012, it saw some recovery in 2013 up to about $17.40, before returning to almost $10 again December.

Ramsay Health Care Limited (ASX: RHC) came in second with an 8.76% rise to $48.25 at last trading on Friday. Its half-year net profit of $157.7 million was on the back of all of its segment regions reporting solid performances for the private hospital operator. It achieved a 14% gain in profit on the pcp.

With strong demand for its Australian services, it is planning to develop extensions to existing hospitals in what it refers to as “brownfield development”, committing about $70 million towards this in the past half-year. It is also looking for more growth opportunities in Asia, where it sees great potential in healthcare.

The company’s guidance is for full-year FY2014 net profit to rise 16%-18% on the pcp.

Beach Energy Limited (ASX: BPT) opened the week with Monday’s release of its $160.5 million half-year net profit, up 267% from H1 2013’s $44 million net profit. This was due to the higher oil production levels, especially from its Western Flank area in the Cooper-Eromanga Basins region that is seeing a lot of attention because of its unconventional gas potential.

Its share price was up 7.9% by the close of Friday to $1.64, and hit a 52-week high of $1.70 in mid-week. Oil production was up 59%, and the company’s guidance for H2 2014 was to maintain maximum available capacity for its Western Flank wells.

Foolish takeaway

The earnings season has seen some surprising ups and downs, and it’s the perfect time for investors to go over their favourite stocks’ reports to see what kind of headwinds or tailwinds they have. Look over their long-term performance and judge for yourself if you are seeing substantial growth for revenue and earnings, or if the story is starting to go off course.

Motley Fool contributor Darryl Daté-Shappard does not own shares in any company mentioned. 

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

asx share price competitions represented by businessmen arm wrestling
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

person reading news on mobile phone
⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »