MENU

These were the best performing shares on the ASX 200 last week

Thanks to a solid gain on Friday, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) recovered from a selloff on Tuesday to finish the week with a gain of 0.4%.

Four shares that climbed significantly last week are listed below. Here’s why they were the best performers on the ASX 200:

The Appen Ltd (ASX: APX) share price was the best performer on the ASX 200 last week with a 25% gain. Investors were fighting to get hold of the shares of the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence after it released a full year result that smashed expectations. In FY 2018 Appen posted a 153% increase in underlying EBITDA to $71.3 million thanks to the successful acquisition of Leapforce, the accelerating AI market, and the high and growing demand for quality training data.

The BINGO Industries Ltd (ASX: BIN) share price wasn’t far behind with a gain of 24.5%. The waste management company’s shares stormed higher after the ACCC advised that it would not oppose its acquisition of Dial a Dump Industries. The competition watchdog made the decision after accepting a court-enforceable undertaking from BINGO to divest its recycling facility in Banksmeadow, New South Wales. This acquisition is expected to diversify its revenue and be a key driver of long term growth.

The Nanosonics Ltd (ASX: NAN) share price was a strong performer last week with a 15% gain. The infection control specialist impressed the market with a half year result that came in ahead of expectations. In the first half Nanosonics posted record sales of $40.7 million, which was a 36% increase on prior corresponding period and 33% higher than the second half of FY 2018. Operating profit before tax came in at $11 million, up 195% on prior corresponding period. Strong demand for its trophon product was the key driver of its growth.

The Afterpay Touch Group Ltd (ASX: APT) share price recovered from a selloff on Tuesday to finish the week with a gain of 14%. The catalyst for this gain was the conclusion of the Senate inquiry into Credit and Financial Services Targeted at Australians at Risk of Financial Hardship. None of the recommendations that were made are expected to be an issue for the Afterpay platform.

Missed these gains? Then don't miss out on these potential market beating growth shares.

Analyst Picks Out Best Growth Shares to Buy in March

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked...

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now