With another week come and gone, this week’s a little more special than most. Why? Well, both the S&P/ASX200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO)(ASX: XAO) breached their all-time highs – not something that happens every day. The ASX200 started the week at 6,712 points, but finished yesterday at 6,846 – a weekly gain of 2%.
Here are some of the shares that made waves this week.
Westpac Banking Corp (ASX: WBC)
Having the title of Australia’s most hated bank seems to be Westpac’s fate these days. WBC shares ended the week at $24.53, which is remarkably close to where the shares started off on Monday ($24.50).
In the ongoing disaster that Westpac is going through, this week the bank announced that its CEO Brian Hartzer would be ‘moving on’. On top, investors will now be able to withdraw from its capital raising program in the light of WBC shares’ recent plunge. I’m not sure where the pain will end for our oldest bank, but it doesn’t appear to be soon.
CSL Ltd (ASX: CSL)
A perennial favourite of investors makes the list as once again the CSL share price has reached a new record high. Although CSL shares closed the week off at $283.75, it’s new PB is now $287, which it hit soon after open yesterday.
CSL’s lucky shareholders are now up 53% for the year so far, with many brokers now tipping the CSL share price to hit the $300 mark in the near future.
Virgin Money UK Plc (ASX: VUK)
Formally CYBG PLC (ASX: CYB), Virgin Money UK shares make this list after banking an eye-watering 24.54% gain yesterday on the release of its results for the financial year ending September 30. Despite the company reporting a 7% drop in profits, it was clear the markets were expecting a lot worse and sent this stock soaring. Virgin Money shares ended the week at $3.35 after starting the week at $2.72.
With stocks making new all-time highs and the markets at a record level, it’s certainly been an interesting week on the ASX.
Will markets continue this run or will things pull back next week? Make sure to tune into Motley Fool and find out!
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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 has no position in any of the stocks mentioned. 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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