On Thursday the S&P/ASX 200 index finished the day slightly higher, bringing its weekly gain to a reasonable 0.21%.
Four shares that performed notably better that the benchmark index last week are listed below. Here's why they were the best performers on the ASX 200:
The DuluxGroup Limited (ASX: DLX) share price rocketed a massive 28.7% last week after the paint products company received a $9.80 cash per share takeover offer from Japan's Nippon Paint. Dulux's board unanimously recommended the offer to shareholders. They believe the takeover would provide increased opportunity for Dulux to pursue its growth ambitions, leveraging Nippon's global scale and resources to realise significant synergies for the combined entity.
The Eclipx Group Ltd (ASX: ECX) share price has continued its recovery and rebounded a further 15% last week. The fleet management and salary packaging provider's shares have been on fire over the last two weeks despite McMillan Shakespeare Limited (ASX: MMS) announcing that the two parties have agreed to officially terminate merger talks. However, even after two consecutive weeks of strong gains the Eclipx share price is down almost 62% this year.
The Whitehaven Coal Ltd (ASX: WHC) share price was a big mover last week with a gain of 10.4%. A good portion of this gain occurred on Thursday when the company announced that its Winchester South metallurgical coal project was declared a 'Coordinated Project' under the State Development and Public Works Organisation Act 1971. That declaration paves the way for whole-of-government assessment of the project by way of an environmental impact statement.
The Vocus Group Ltd (ASX: VOC) share price climbed a sizeable 8.6% last week despite there being no news out of the telco company. One potential catalyst for the gain was a broker note out of Morgan Stanley. According to the note, the broker retained its overweight rating and $4.00 price target on Vocus' shares. Morgan Stanley believes that improvements in its balance sheet means the company has the flexibility to invest more in its fibre business, potentially accelerating its earnings growth.
