The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a positive start to the year, notching up a 3.9% gain in January.
While this is impressive, it is nothing compared to some shares on the benchmark index.
The following shares were the best performers on the ASX 200 in January:
The Fortescue Metals Group Limited (ASX: FMG) share price was the best performer on the ASX 200 in January with a gain of 35%. A good portion of this gain came this week when iron ore prices rocketed to almost two-year highs following Vale's dam disaster in Brazil. In response to the disaster, the mining giant advised that it intends to decommission 19 dams that are similar to the one that collapsed at the weekend. This has the potential to cut out as much as 40 million tonnes of iron ore supply.
The Beach Energy Ltd (ASX: BPT) share price was the next best performer in January with a 34% gain. A rebound in oil prices has been the catalyst for this gain. Prices have been on the rise after OPEC agreed to cut its production to prevent a supply glut. In addition to this, a strong second quarter led to management upgrading its full year production guidance this morning.
The Healius Ltd (ASX: HLS) share price has gained 30% so far this year. Investors have been fighting to get hold of shares after Healius, previously known as Primary Health Care Limited (ASX: PRY), revealed that it had received a non-binding indicative $3.25 cash per share acquisition proposal from Jangho Hong Kong Limited. Although the Healius board ultimately rejected the proposal, investors appear to believe that Jangho could return with a better offer.
The Afterpay Touch Group Ltd (ASX: APT) share price surged 28% in January. The driver of this strong gain was the payments company's business update in the middle of the month. That update revealed that the company's strong growth continued in the first half of FY 2019. Underlying sales in the first half came in at over $2.2 billion, up 140% on the prior corresponding period. Playing a key role in this strong growth was the company's performance in the United States. Its U.S. business processed $260 million of underlying sales in the first half. This compares to ~$115 million of underlying sales at the end of October.
