Last week the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) fell 2.4% to finish it at a two year low of 5,467.6 points.
While the majority of the shares on the benchmark index posted declines, there were a number of exceptions.
These shares were the best performers on the ASX 200 last week:
The Resolute Mining Limited (ASX: RSG) share price was the best performer on the ASX 200 last week with a 10.5% gain. Industry peers Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST), Regis Resources Limited (ASX: RRL), and St Barbara Ltd (ASX: SBM) were not far behind as the gold miners snared the top five after market volatility led to an increase in demand for safe haven assets. The Resolute share price was given an additional boost after it forward sold a further 30,000 ounces of gold at an average price of A$1,783 per ounce with scheduled monthly deliveries of 5,000 ounces between July 2019 and December 2019.
The Medibank Private Ltd (ASX: MPL) share price wasn't too far behind with a 7% rise last week. The catalyst for this gain was a better than expected health insurance premium increase. Medibank and ahm health insurance premiums will increase by an average of 3.3% from April 1 2019. While this will be the lowest average premium increase in 18 years, it is notably higher than what they are likely to get under a Labor government. Labor has promised to cap health insurance premium rises to 2% for two years if it wins the next election.
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price was the next best performer last week with a 5.5% gain despite there being no news out of the medical device company. But with Fisher & Paykel Healthcare's shares trading within touching distance of their 52-week low on Monday, it appears that bargain hunters have swooped in this week on the belief that its shares had been oversold.
