A disappointing finish to the week meant that the benchmark S&P/ASX 200 Index dropped back from its six-month high to finish the week mostly flat at 6181.3 points.
Four shares that didn't let that hold them back are listed below. Here's why they were the best performers on the ASX 200 last week:
The Eclipx Group Ltd (ASX: ECX) share price was the best performer on the ASX 200 last week with an impressive gain of 32%. The fleet management and salary packaging provider's shares stormed higher despite McMillan Shakespeare Limited (ASX: MMS) announcing that the two parties have agreed to officially terminate merger talks. Eclipx even agreed to reimburse McMillan Shakespeare for the $8 million costs incurred during discussions. Some investors appear to believe its shares have fallen too far despite its issues.
The Syrah Resources Ltd (ASX: SYR) share price wasn't far behind Eclipx with a gain of 26.5% last week. Investors were fighting to get hold of the graphite producer's shares after it released a positive first quarter update. During the quarter Syrah achieved production of 48kt, compared to guidance of 45kt. The company also finished the period with cash of US$62 million, which was higher than its guidance of between US$55 million and US$57 million.
The Domain Holdings Australia Ltd (ASX: DHG) share price was on form last week and recorded a 19.5% gain. Speculation that the property listings company is a takeover target appears to have been the driver of this strong share price gain. According to the Sydney Morning Herald, there is speculation that a deal could be arranged before the end of April.
The Afterpay Touch Group Ltd (ASX: APT) share price continued its remarkable run with a gain of 16.5% last week. This means the payment company's shares have now risen an incredible 97% since the start of the year. Last week the company's shares were given a boost after a broker note out of Goldman Sachs revealed that its analysts had retained their conviction buy rating and lifted their price target on its shares from $21.00 up to $27.10. Goldman made the move after revising its valuation approach and upgrading its U.S. forecasts.
