Top ASX 100 gainers of the past week

A South African bid for one of Australia’s leading department stores leads the list.

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Over the past week, the S&P ASX 100 Index (ASX: ^XTO) was flat with a 0.2% rise, hitting a new 52-week high at 4,574 on Thursday. The Aussie dollar closed at 93.9 cents to the US$, up from the 92 cent range partly due to a weaker US$ and an unexpected drop in the unemployment rate. Gold returned to above US$1,300/oz, ending the week at US$1,313/oz.

Here are the top four gainers in the ASX 100 for the past week.

David Jones Limited (ASX: DJS) price: $3.93 (+23.2%)

The department store company received a surprise takeover offer from South Africa’s Woolworths Holdings Limited (Johannesburg: WHL) for $2.15 billion, for a value of $4 a share. Myer Holdings Ltd (ASX: MYR) previously offered a “merger of equals” takeover with no real premium, but that has been trumped.

It may attract other takeover bids and it is always possible that Myer could sweeten their offer.

Regis Resources Limited (ASX: RRL) price: $2.56 (+15.3%)

The gold miner announced in March that the construction phase of its new McPhillamys mine project near Orange, NSW, could be started by 2015 if the $150 million project is approved. The company hopes to complete an environmental impact statement by the end of calendar year 2014.

Interim net profit was down 32% to $45.6 million.

Echo Entertainment Group Ltd (ASX: EGP) price: $2.70 (+14.4%)

The casino operating company announced a 5.7% gain in normalised revenue for the March quarter. The new CEO Matt Bekier said that cost-cutting and marketing initiatives implemented about 18 months ago were finally bearing fruit.

In early February, the share price hit a low of about $2.20, about half the share price in May 2012.

Newcrest Mining Limited (ASX: NCM) price: $10.74 (+8.3%)

The gold miner benefited from gold spot prices going back above US$1,300/oz during the week. In the first half of FY2013, it raised production by 27% and reduced its all-in sustaining cost to US$925/oz.

Its share price is up about 53% since a December low of $6.99.

Foolish takeaway

The David Jones takeover bid will be a hot topic for some time with the South African suitor proposing potential changes that could affect department store retailing, such as increasing private brand goods in the stores and downsizing store floor space.

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

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