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3 ASX shares of the week

Well, all in all the ASX had a solid week, banking a slight rise at Friday’s close. The S&P/ASX200 (ASX: XJO) index started the week at 6,669 points but finished up at 6,724 points – a rise of 0.82%.

Here are 3 ASX shares that caught my eye this week.

Xero Limited (ASX: XRO)

The Xero share price went ballistic this week (on Thursday, specifically) after the beloved accounting software provider announced a record half-year revenue of NZ$338.7 million and a subscriber base that now tops 2 million users. Xero’s growth is accelerating and that drove investors into a frenzy, pushing up XRO shares to a record high of $75.97 yesterday. The Xero share price is now up 81% for the year so far.

CSL Limited (ASX: CSL)

CSL makes the list for delivering yet another record high share price this week. This writer’s fingers are sore from writing this same sentence so often through 2019, but CSL doesn’t stop delivering for its shareholders. CSL shares hit $263 for the first time ever earlier this week, and the market ended Friday asking for $261.34 a share. This phenomenal healthcare stock is now up 42% in 2019 so far.

Newcrest Mining Limited (ASX: NCM)

Newcrest makes the list for all the wrong reasons this week, going from $32.64 on Monday to Friday’s closing price of $29.98 – a 5-day drop of 8.1% (ouch).

Sentiment surrounding the yellow metal that Newcrest mines has been the catalyst for this drop. Gold prices were in freefall this week after signs of a US–China trade deal and surging stock prices dampened the appeal of safe haven assets. Nevertheless, even after this drop NCM shares are still up 38% for the year, so Newcrest shareholders can’t complain too much on this news!

Foolish takeaway

In a generally positive week from the share market, we saw new highs, big drops and all of the usual market gyrations. If a US–China trade deal is indeed within inking distance, next week might prove to be a good one, but who know what can happen these days. See you next week!

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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of Xero. 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.

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